Suez Canal revenue hits $39.9 billion over 6 years, despite 2024 slowdown
The Suez Canal generated $39.919 billion in dollar-denominated revenue from 2019 through 2024, despite a sharp…
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Suez Canal
Egypt, France upgrade ties to strategic partnership, discuss Gaza, Nile, regional…
Egyptian President Abdel Fattah El Sisi and French President Emmanuel Macron signed a joint communique in Cairo on…
Suez Canal reports 166 ships diverted from Cape of Good Hope since Feb
The Suez Canal Authority (SCA) announced on Tuesday that 166 ships have shifted their routes to transit through the…
Egypt’s Investment Min. calls for stronger ties with India
Egypt’s Minister of Investment and Foreign Trade, Hassan El-Khatib, participated in the opening session of the…
Sisi: Egypt’s economy showing positive indicators despite challenges
President Abdel Fattah El-Sisi affirmed that Egypt’s economy is showing positive signs, pointing to the recent…
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…
47 ships reroute to Suez Canal in Feb as regional stability improves – chair
A total of 47 ships have changed their routes to transit through the Suez Canal instead of the Cape of Good Hope…
Suez Canal’s dominance unchallenged by new trade routes – SCA
The Suez Canal Authority (SCA) affirmed the canal's vital role in global trade during a meeting Wednesday between…
AICC HUANGHU crosses Suez Canal on maiden voyage, saving 18 days
The Suez Canal welcomed on Thursday the maiden voyage of the AICC HUANGHU, a car carrier transporting 4,202…
Egypt’s SCA eyes Chinese partnership to boost food security
Egypt’s Suez Canal Authority (SCA) seeks to collaborate with Chinese company FAMSUN, aiming to inject new…
Egypt unveils new Suez Canal navigation charts for expanded route
The Suez Canal Authority (SCA) has issued on Monday updated navigation charts, signaling the operational launch of…
Egypt’s Suez Canal Authority head highlights shipping resumption
Egypt's Suez Canal Authority (SCA) head Osama Rabie discussed on Tuesday the resumption of major shipping lines…
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…
Sisi lauds Egypt’s comprehensive cooperation with Russia
Egypt’s President Abdel Fattah El Sisi expressed his appreciation for participating in BRICS summit hosted by…
S&P affirms Egypt rating at B-/B, positive outlook
S&P Global Ratings affirmed Egypt’s sovereign credit ratings at ‘B-/B’ on October 18, 2024, assigning a…
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…
Egypt’s Suez Canal revenues plummet by 64% in Q4
Egypt’s Suez Canal's revenues declined 64 per cent during the fourth quarter of the last fiscal year, according to…
Suez Canal revenue down amid Red Sea unrest
The Suez Canal's annual revenue went down to $7.2 billion in the latest fiscal year, down nearly a quarter, as some…
World shipping costs surge amid market uncertainty
The Drewry World Container Index reported a spot rate of $9,387 on July 11, more than double February's rate but…
Egypt initiates economic reforms amid global challenges – FinMin
Egypt has initiated economic reforms to address challenges and reduce risks from global and regional crises for…
Egypt plans to invest EGP 9.7b in Suez governorate
Egypt’s Ministry of Planning and Economic Development allocates a total of 9.7 billion Egyptian pounds for 189…
IMF head praises Egypt’s measures to tackle economic challenges
Kristalina Georgieva, IMF Managing Director and Chair, highlighted Egypt's macroeconomic challenges exacerbated by…
Israel’s Eilat Port workers at risk of losing jobs due to Red Sea unrest
Half of the workers at Israel's Eilat Port are in jeopardy of losing their jobs due to a significant financial…
S&P Global upgrades Egypt’s outlook to positive
S&P Global Ratings upgraded Egypt’s outlook to positive, maintaining its B-/B long and short-term foreign and…
Asian diesel margins heat up amid supply surplus, sea concerns
Asia’s diesel production margins are under increasing pressure due to an oversupply as major exporters ramp up…
Egypt’s budget initial surplus hits EGP 193b in 8 months
Egypt’s budget has significantly improved in the past eight months, showing an initial surplus of 193 billion…
Egypt’s non-oil activity suffers over Suez Canal disruption
Egypt's private sector activity declined in February, with the Suez Canal freight drop and foreign currency…
Maersk: Red Sea disruptions could extend to H2 of ’24
Maersk, the Danish shipping company, has warned its clients to expect disruptions in the Red Sea to continue into…
MSC to resume Suez Canal transit once tensions ease – CEO
Switzerland's MSC will “immediately” return shipping through the Suez Canal as soon as the security situation…
Egypt’s S. Canal revenue may partially offset Red Sea attacks impact – Maait
Some of the damage caused by the Red Sea attacks on ships to Suez Canal revenue could be offset by prior growth…
TotalEnergies stops navigating Red Sea
TotalEnergies stated that the journey of its ships to Europe has been prolonged since the company stopped sending…
Qatar Energy pauses LNG Red Sea shipping amid attacks
QatarEnergy, world's second largest exporter of liquefied natural gas (LNG), paused Red Sea, a senior source…
Red Sea attacks drive Gas prices up
European gad prices rebounded after a two-day decline due to ongoing attacks on ships in the Red Sea which causes…
Germany’s industrial output drops in November ’23
Germany’s industrial production fell unexpectedly in November, Reuters reported on Tuesday, citing the federal…
Maersk schedules Suez Canal journeys for 30+ container vessels
Denmark's Maersk schedules to sail more than 30 container vessels through Egypt's Suez Canal and the Red Sea…
IFC plans to provide $175mln loan to SCCT
The International Financial Corporation (IFC) is planning on providing the Suez Canal Container Terminal (SCCT)…
AMEA Power plans to build green hydrogen facility in Kenya
Dubai-based renewable-energy company, AMEA Power, plans to build a green hydrogen facility in the Kenyan port of…
Egypt’s Suez Canal makes historic record of $1mln revenues in one hour
Egypt's Suez Canal recorded one million dollars in revenues in one hour, in a historic never seen before record,…
Egypt’s Suez Canal to go green by 2030
Egypt's Suez Canal Authority (SCA) announced on Sunday that it will adopt a sustainable development plan, which…