suez canal
Sisi said Egypt has lost about $6-7 billion in the last 10 months amidst ongoing regional and global repercussions
She said in a press conference that the GDP growth rate recorded 2.4 percent during the last quarter of 2023/2024.
She said in a press conference that the GDP growth rate recorded 2.4 percent during the last quarter of 2023/2024.
She said in a press conference that the GDP growth rate recorded 2.4 percent during the last quarter of 2023/2024.
Since November 2023, over 6,600 vessels have diverted their routes to the Cape of Good Hope, explained the SCA head.
Additionally, six schools for applied technology have been established: three in Port Said Governorate, one in Suez Governorate, one in South Sinai, and one in Ismailia.
Madbouly highlighted Egypt’s focus on its national security capabilities, including military, political, economic, and social security
Oil refining activities decreased by 6.1 percent, influenced by lower production, but started to improve in the months after the fiscal year ended, as dues to foreign partners were settled.
According to the Central Bank of Egypt’s (CBE) latest release on the country’s Balance of Payments (BoP), Egypt recorded a $9.7 billion surplus in the fiscal year 2023/2024, while the current account deficit expanded, registering at $20.8 billion
The Alexandria-based Kased Khair for General Supplies and Contracting Company locally manufactured the floating crane (CC) at the South Korean Shipyard GUESUNG TECH, said the Suez Canal Authority (SCA).
According to an official statement, SCZone's ports handled a total trading volume of 36 million tons during FY2023/2024
The total weight of shipments fell by one third from 1.5 billion tons to one billion tons.
Chairman of the Suez Canal Authority Osama Rabie inspected this week the Suez Canal Aquaculture Company.
The SCA head also highlighted the impact of Red Sea tensions on the maritime transport market, trade movement, and global supply chains
The number of transiting vessels dropped by 11.5 percent, with net tonnage passing through the canal falling by 15.6 percent to close the first 9 months of the fiscal year at 944.9 million tons
In addition to the reduction in ship traffic, there was also a considerable decrease in total tonnage, falling by 68.5 percent in May 2024 to about 44.9 million tons.
In a statement, Maait highlighted the impact of global and regional crises on Egypt's economy, particularly through soaring inflation.
Chairman of the Suez Canal Authority Osama Rabie inaugurated Tuesday in Safaga a factory for building tugboats as a subsidiary of the Red Sea Shipyard.
Egypt is actively overseeing the implementation of 80 port projects, with a total investment of LE 129 billion, in collaboration with 100 private sector companies.
Fitch noted that the direct exchange of strikes between Iran and Israel has raised the risks of an escalation of regional conflict beyond Gaza.
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