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Business
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Economy
1/6/2024 7:05:33 PM
Egypt’s current account deficit decreased by 12.1 percent to $2.8 billion during the period between July and September 2023, compared to $3.2 billion a year prior, according to the data released by the Central Bank of Egypt (CBE) on Thursday.
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Al-Ahram Weekly
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Egypt
1/2/2024 8:25:21 PM
The effect of Houthi threats to ships travelling through the Suez Canal has thus far been minimal.
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Business
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Economy
12/28/2023 3:19:58 PM
The Suez Canal Economic Zone (SCZone) signed an agreement with Henneway, a Chinese travel bags manufacturer, to build a factory with up to $50 million in investments in the West Qantara Industrial Zone (WQIZ), according to a cabinet statement on Thursday.
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Business
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Economy
12/26/2023 7:03:42 PM
Egypt’s Suez Canal Economic Zone (SCZone) has received $1.85 billion worth of investments between 1 July and 25 December, the SCZone’s Chairman Walid Gamal El-Din stated on Tuesday, according to a cabinet statement.
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Business
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Economy
12/21/2023 9:11:41 PM
The current disruption of the movement of shipping vessels through the Suez Canal -- due to the conflict in the Bab al-Mandab Strait -- poses a threat to the canal’s revenues and to global trade.
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Business
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Energy
12/20/2023 3:07:59 PM
Egypt signed an agreement with Saudi Arabia’s utility developer ACWA Power to develop a green hydrogen project in the Suez Canal Economic Zone (SCZONE) with investments exceeding $4 billion, according to a Cabinet statement on Wednesday.
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Business
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Economy
12/19/2023 6:45:15 PM
Saudi Arabia’s transportation and logistics company Bahri is exploring a partnership with Egypt’s Alkahera Company for Ferries and Maritime Transport and the Suez Canal Authority (SCA) in shipbuilding and logistic services, according to a cabinet statement on Tuesday.
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Business
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Energy
12/18/2023 10:52:42 PM
Oil prices shot up three percent Monday as more companies suspended shipping through the Red Sea following attacks on vessels by Yemen's Iran-backed Houthi rebels.
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Egypt
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Urban & Transport
12/17/2023 6:33:08 PM
Chairman of the Suez Canal Authority (SCA) Osama Rabie stated on Sunday that 55 ships diverted from the Suez Canal route to the Cape of Good Hope route since 19 November, considering it a small percentage compared to the crossing of 2,128 ships during the same period.
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War on Gaza
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War on Gaza
12/16/2023 9:22:33 PM
Two more major shipping firms, Mediterranean Shipping Company (MSC) and CMA CGM, said on Saturday they were suspending passage through a Red Sea strait vital for global trade, after Yemeni rebel attacks in the area.
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Business
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Economy
12/16/2023 7:54:53 PM
British bank HSBC projected the Egyptian pound to experience devaluation, reaching EGP 40-45 against the US dollar, during the first quarter of 2024, according to a report by the bank on Friday.
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Business
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Economy
12/11/2023 4:48:56 PM
The Suez Canal Economic Zone (SCZONE) has attracted more than $1.7 billion in industrial investments since the beginning of 2023, Ibrahim Abdel-Khalek, Deputy Chairman of SCZONE, said on Monday.
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Business
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Economy
12/7/2023 5:08:45 PM
Egyptian Prime Minister Mostafa Madbouly approved permitting the Suez Canal Authority (SCA) to co-establish Suez Canal for Modern Boats, a joint-stock company, per the decree published in the Official Gazette on Thursday.
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Egypt
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Urban & Transport
12/6/2023 9:39:35 PM
The container ship that sustained malfunction while transiting the Suez Canal earlier on Wednesday has resumed its journey after being repaired, the Suez Canal Authority (SCA) said.
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Business
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Energy
12/5/2023 5:47:40 PM
The Egyptian Suez Canal Economic Zone (SCZone) has recently signed a strategic cooperation agreement with Egypt-based Injazat Company and Chinese CHINT Global, to establish an industrial complex for green energy within the SCZone, covering a substantial area of 2 million square metres, according to a statement on Tuesday.
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Business
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Energy
12/3/2023 5:34:30 PM
The Egyptian Suez Canal Economic Zone (SCZONE) and the Ministry of Electricity and Renewable Energy signed agreements with Norwegian energy company Scatec, and a group of international financial institutions including the African Development Bank (AfDB) and British International Investment (BII) to launch three green energy projects in Egypt.
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Egypt
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Urban & Transport
11/30/2023 1:13:07 PM
Egypt’s Suez Canal Authority (SCA) announced on Thursday that it achieved a significant increase of 20.3 percent with the canal’s revenue reaching $854.7 million in November 2023, compared to $710.3 million in November 2022, showing a difference of $144.4 million.
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Al-Ahram Weekly
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Egypt
11/28/2023 10:10:15 PM
Chair of the Authority for the Suez Canal Economic Zone Waleid Gamal Eldien explains how the authority is providing an enabling environment for conventional and new industries and positioning itself as a hub for renewable energy to Niveen Wahish
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Egypt
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Society
11/12/2023 12:21:11 PM
The weather across Egypt is mostly cloudy on Sunday, setting the stage for imminent rain showers with the possibility of thunder in several regions, including Greater Cairo, the Nile Delta, the North Coast, Suez Canal cities, and Sinai, the Egyptian Meteorological Authority (EMA) predicts.
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Business
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Economy
11/6/2023 2:09:41 PM
The Suez Canal Economic Zone (SCZONE) signed $15.6 billion in agreements with Chinese partners for 11 manufacturing and green hydrogen projects on 4.9 million square metres, SCZONE Chairman Walid Gamal El-Din said in a statement on Sunday.
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