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Egypt
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Urban & Transport
1/22/2024 5:45:31 PM
Egypt’s Suez Canal has deployed an emergency team to provide maintenance and repairs services for dry bulk vessel ZOGRAFIA, which was targeted in an attack by Houthi rebels in the Red Sea last week, according to a statement by the Suez Canal Authority (SCA).
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Business
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Economy
1/17/2024 2:10:40 PM
The World Trade Organization's chief Ngozi Okonjo-Iweala on Wednesday said she was "less optimistic" about world trade in 2024, pointing to tensions in the Red Sea.
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Egypt
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Urban & Transport
1/16/2024 11:19:31 PM
Osama Rabie, the chairman of Egypt’s Suez Canal Authority (SCA), has stressed that the decision of some shipping companies to reroute from the Suez Canal is a temporary measure driven by security concerns amid the ongoing escalation in the Red Sea.
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Al-Ahram Weekly
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Economy
1/16/2024 9:16:04 PM
Houthi attacks on ships sailing through the Red Sea are disrupting shipping, and the Suez Canal is feeling the brunt, write Ahmed Abdel-Hafez and Niveen Wahish
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War on Gaza
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War on Gaza
1/16/2024 3:08:52 PM
A Greek-owned cargo ship was hit by a missile off Yemen, a maritime risk management company said on Tuesday, following a string of attacks in the Red Sea by Yemen's Houthi rebels, in response to Israel's months-long war on Gaza.
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Business
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Energy
1/15/2024 8:40:11 PM
The world's second largest liquid natural gas (LNG) exporter QatarEnergy suspended LNG shipments via the Red Sea pending “security advice” due to the ongoing escalation in the Red Sea, posing a new challenge to Egypt’s Suez Canal given its close connection to the crucial international trade route.
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Egypt
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Urban & Transport
1/13/2024 8:06:58 PM
Osama Rabie, the head of the Suez Canal Authority (SCA), said in a statement issued Saturday that navigation in the Suez Canal was running smoothly in both directions.
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Egypt
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Urban & Transport
1/12/2024 3:42:10 PM
The ship traffic has decreased 30% in Egypt’s Suez Canal since the beginning of 2024 compared to 2023, due to recent tensions in the Red Sea, Suez Canal Authority (SCA) Chairman Osama Rabie said on Thursday.
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Business
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Economy
1/11/2024 11:28:49 AM
Egypt’s securitization of FX revenue will not affect assets, says Sherif Samy, former chair of Financial Regulatory Authority
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Egypt
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Foreign Affairs
1/10/2024 11:00:15 PM
Egypt’s Prime Minister Mostafa Madbouly discussed the impact of Houthi attacks on shipping in the Red Sea on the Suez Canal with Maersk Group officials, including CEO Vincent Clerc, during a video-conference on Wednesday, the Egyptian Cabinet announced.
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Business
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Economy
1/9/2024 5:00:32 PM
The Egyptian government launched in January a comprehensive eight-direction economic strategy for the period 2024-2030, the document of which tackles several aspects of economy and quality of life.
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Business
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Economy
1/8/2024 2:13:11 PM
Egypt plans to increase its annual foreign currency revenue from exports, tourism, remittances, foreign direct investments (FDIs), the Suez Canal, and outsourcing services to $300 billion in 2030 from around $100 billion, according to a government document released this month.
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Business
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Economy
1/7/2024 6:52:01 PM
Egypt’s Suez Canal revenues jumped by around 19.4 percent to $2.4 billion in the third quarter of 2023 (July-September) compared to $2 billion in the corresponding quarter in 2022, according to data released by the Central Bank of Egypt (CBE).
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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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