The Latest Breaking News from Suez

Traffic through Suez Canal has slowed, driving the cost of goods up, and impacting the two countries’ economies.

1956 was one of the most turbulent years in the post-war era. Over a period of 12 months, the world witnessed the 20th Congress of the Communist Party of the Soviet Union, the Budapest uprising, the Poznan revolt, the Suez affair and the Algerian war among other events. The Melbourne…

Russian Foreign Minister Sergei Lavrov will kick off a tour of Africa next week that includes Egypt, which he described as Moscow’s “number one” partner in the continent. Russian Foreign Ministry Spokeswoman Maria Zakharova said his trip, from July 24 to 28, will include Egypt, Ethiopia, Uganda and the Republic…

Egypt's Suez Canal recorded $7 billion in revenue for the fiscal year 2021/22, up 20.7% from a year earlier, Suez Canal Authority Chairman Osama Rabea said in a statement on Monday. Egypt's fiscal year runs from July 1 to June 30. The canal is the fastest shipping route between Europe…

Egypt expects the Suez Canal's revenues to reach about $7 billion by the end of the current fiscal year, finance minister Mohamed Maait said on Saturday. Tourism revenues are expected to reach between $10 billion and $12 billion by then, despite the Ukrainian crisis, he added. Egypt's fiscal year runs…

Egypt's Suez Canal recorded its highest monthly revenue to date in April, reaping $629 million in ship transit fees, the authority managing the waterway said on Sunday, as traffic rebounded from the impact of the pandemic. The monthly revenue in April was 13.6% higher than a year ago, canal authority…

Egypt's Suez Canal Authority said on Tuesday it will temporarily increase a surcharge levied on laden crude oil tankers and petroleum products tankers transiting the canal in both directions to 15% of normal dues from 5%, effective May 1. It said that ballast crude oil tankers and petroleum products tankers…