Egypt’s Suez Canal discusses Red Sea developments with MSC
The Suez Canal Authority (SCA) and MSC Mediterranean Shipping Company have held discussions on the impact of recent…
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Red Sea
Suez Canal successfully tows damaged oil tanker SOUNION
The Suez Canal Authority (SCA) has successfully towed the oil tanker SOUNION through the waterway following an…
Red Sea Resources plans $10m investment in Egypt’s gold exploration
Canada’s Red Sea Resources announced on Wednesday the completion of surface exploration and preliminary drilling in…
Egypt, Colombia discuss biodiversity funding mechanisms
Egypt's Minister of Environment, Yasmine Fouad, held a virtual meeting with Colombia's Minister of Environment,…
Egypt, Somalia elevate ties to strategic partnership
President Abdel Fattah El-Sisi welcomed Somali President Dr. Hassan Sheikh Mohamud to Cairo, marking a significant…
Maersk, Hapag-Lloyd delay Red Sea return
Maersk and Hapag-Lloyd, two of the world's leading shipping companies, stated on Thursday that they do not foresee…
Fitch’s BMI downgrades Egypt’s growth forecast for FY2024/25
Egypt’s economic growth forecast for FY2024/25 has been revised down from 4.2 to 3.7 per cent, Fitch's BMI research…
Oil flow through Red Sea falls by 50% in ’24 – EIA
Oil flows through the Bab el-Mandeb Strait, a key chokepoint at the Red Sea's southern entrance, have fallen by…
China’s port growth slows in Q2 ’24 – Fitch
China’s port activity grew in the second quarter of 2024, albeit at a slower pace than the previous quarter.
Egypt plans massive hotel expansion to boost tourism
Egypt is seeking to add around 200,000 to 250,000 hotel rooms to boost its capacity for 30 million tourists per…