suez canal
Mubarak explained that the Suez Canal, a major source of foreign currency for Egypt, used to generate around $750 million per month, but has seen revenues significantly decrease, averaging $300 million per month this year.
The meeting, held at the SCA headquarters in Ismailia, was attended by several members of the SCA board.
SCA Chairman Osama Rabie Outlines Vision for Revenue Growth Beyond Transit Fees
The crossing of the barge took nearly 24 hours and required complex navigational arrangements, the SCA chief says
This meeting addressed the impact of current challenges in the Red Sea region on global supply chains.
The authority also continued that the transiting of warships through the Suez Canal is subject to special procedures.
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
