Egypt’s Suez Canal expects $3.5bn in revenues in H1


RIYADH: Egypt’s Suez Canal is expecting to achieve $3.5 billion in revenues during the first half of 2022, the chairman of the authority, Osama Rabie, said in an interview with Asharq.

Revenues from the canal have increased by around 23 percent in May 2022, compared to the year earlier, to reach $657 million, Asharq reported.

Rabie attributed the high revenues to the growth of the global economy, the continued recovery of global trade, pricing policy and the Canal’s fee rise.

Read more

Oil Updates — Crude climbs after Saudi Arabia hiked prices; Eni, Repsol to ship Venezuela oil to Europe; Production resJune 6, 2022India In-Focus — Shares fall; Factory explosion kills 10; UniCredit considering India as it widens search for buyersJune 6, 2022Egypt, Siemens Mobility to build the world’s 6th largest high-speed rail system
May 29, 2022Saudi deputy defense minister: UN, international pressure needed for Houthis to engage in peace processMay 21, 2022