Egypt Reports 25% Decline in Suez Canal Revenues

Egypt Reports 25% Decline in Suez Canal Revenues

Egypt announced on Tuesday that revenues from the Suez Canal dropped by 25% in the last fiscal year, which ended in June, largely due to ongoing regional tensions. A report from the Central Bank of Egypt revealed that Suez Canal revenues amounted to $6.6 billion, down from $8.8 billion in the p...

Egypt Prioritizes Yemen and Red Sea Security as National Interests

Egypt Prioritizes Yemen and Red Sea Security as National Interests

On September 21, 2024, the Egyptian government emphasized that the security and stability of Yemen, as well as the safety of maritime navigation in the Red Sea, are top priorities for Egypt's national security and for the broader Arab region. This statement was made during a meeting in Wash...

Sisi's Historic Visit to Turkey Marks New Era in Relations

Sisi's Historic Visit to Turkey Marks New Era in Relations

 Egyptian President Abdel Fattah el-Sisi arrived in Ankara on Wednesday, September 4, 2024, for a historic visit marking a significant step towards mending strained relations between the two countries after 12 years of tension. This is Sisi's first visit to Turkey since 2012, following a ...

Sisi Warns of "Extreme Danger" of Israeli Escalation in West Bank

Sisi Warns of "Extreme Danger" of Israeli Escalation in West Bank

Egyptian President Abdel Fattah el-Sisi warned on Thursday, August 29, 2024, of the "extreme danger" posed by the current Israeli military escalation in the occupied West Bank to the region. Sisi's warning came during a meeting in Cairo with a delegation from several US Congressio...

Suez Canal Revenue Plunges 23.5% Due to Red Sea Crisis, Egypt Confirms

Suez Canal Revenue Plunges 23.5% Due to Red Sea Crisis, Egypt Confirms

The Republic of Egypt confirmed on Thursday, July 18, 2024, a 23.5% decline in Suez Canal revenue during the past fiscal year ending in June, reaching $7.2 billion. This downturn is attributed to the ongoing crisis of attacks by the Houthi group, internationally classified as a terrorist organizat...

Suez Canal Revenue Plunges by $2 Billion Due to Houthi Attacks

Suez Canal Revenue Plunges by $2 Billion Due to Houthi Attacks

The Suez Canal Authority announced a significant drop in revenue for the 2023-2024 fiscal year, losing approximately $2.1 billion due to Houthi attacks in the Red Sea. Egyptian media reported on Tuesday, July 16, 2024, that the canal's revenue fell by 23%, reaching a total of $7.223 billion...