{"id":548322,"date":"2022-08-03T04:00:11","date_gmt":"2022-08-03T04:00:11","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/suez-canal-revenues-hit-record-high-in-july\/"},"modified":"2022-08-03T04:00:11","modified_gmt":"2022-08-03T04:00:11","slug":"suez-canal-revenues-hit-record-high-in-july","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/03\/suez-canal-revenues-hit-record-high-in-july\/","title":{"rendered":"Suez Canal revenues hit record high in July"},"content":{"rendered":"

Record Suez Canal revenues in July:<\/strong> Revenues at the Suez Canal reached a record high of USD 704 mn in July, Suez Canal Authority Chairman Osama Rabie said<\/a> yesterday. This is 32% higher than July 2021. The strong revenues were backed by a rise in tonnage transiting the canal, which hit a record 125.1 mn tons during the month, he said.<\/p>\n

Conditions have been kind to the canal of late:<\/strong> Suez Canal revenues jumped 20%<\/a> to a record USD 7 bn last fiscal year thanks to a global surge in oil prices and freight rates, as well as the crisis in Ukraine making the canal more attractive than other routes.<\/p>\n

IN REAL ESTATE- EGX-listed MNHD reports EGP 400 mn at Elect<\/strong>, its new development at Taj City, since sales opened on 26 July 2022. That represents c. 50% of the development\u2019s first phase, the company said in a statement (pdf)<\/a>. Taj City is a 3.5 mn sqm mixed-use development in New Cairo. \u201cMore than 43% of MNHD\u2019s land bank at Taj City was unlaunched at the close of Q1 2022, leaving significant room for profitable residential and commercial development at the strategically located project,\u201d the company said.<\/p>\n

OTHER THINGS we\u2019re keeping an eye on this morning:<\/strong><\/p>\n