All the project funds were in Egyptian pounds to avoid reliance on foreign currency and equipment rentals and to support the local economy. Rabie also affirmed that no increase in Suez Canal ...

Egypt is “cautiously optimistic” a ceasefire between Israel and Hamas will eventually translate into a recovery in Suez Canal revenue, which fell at least 60% due to the war, the country’s ...

(Bloomberg) -- Red Sea disruptions — a consequence of Houthi maritime attacks — have cost Egypt at least $7 billion in Suez Canal revenue this year, the country’s presidency said in a ...

Egypt - Suez Canal Authority (SCA) Chairperson Osama Rabie recently met ... This facility was inaugurated by Egyptian President Abdel Fattah Al-Sisi in May 2024.

Egypt has tested a new 10-kilometre (6.2-mile) extension to the Suez Canal as it tries to minimise the impact of currents on shipping and increase the key waterway's capacity. Two ships used the ...

The Houthi attacks on ships in the Red Sea have ceased owing to the ceasefire in Gaza, prompting Egypt to encourage shipping companies to resume sailing through the waterway.

The Suez Canal expansion will cement Egypt's status as a key contributor to world trade, said Dr Sultan bin Ahmed Sultan Al Jaber, UAE Minister of State, and chairman of the coordination office of ...

The planned port could be a response to a long-touted Israeli plan to decouple the international maritime movement from the ...

This stood at about $7 bln, in the outgoing year CAIRO, December 27. /TASS/. Egypt lost more than 60% of Suez Canal revenues, which stood at about $7 bln, in the outgoing year, Chairman and ...

Egyptian President Abdel-Fattah al-Sisi said Thursday that the Suez Canal revenues fell more than 60 percent year-on-year in 2024 amid regional challenges, according to a statement by the Egyptian ...

Egypt - A banking alliance led by Banque Misr, alongside Suez Canal Bank and Al Baraka Bank–Egypt, has successfully secured long-term joint financing of $108m for MAFI for Agricultural Produce ...

Egypt is set to inaugurate a new $8.5 billion extension to the Suez Canal. The project is meant to bolster the credibility of Egyptian President Abdel Fattah Al Sisi and, many hope, boost the ...