{"id":579382,"date":"2023-02-05T04:00:38","date_gmt":"2023-02-05T04:00:38","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/suez-canal-receives-record-monthly-revenues\/"},"modified":"2023-02-05T04:00:38","modified_gmt":"2023-02-05T04:00:38","slug":"suez-canal-receives-record-monthly-revenues","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/suez-canal-receives-record-monthly-revenues\/","title":{"rendered":"Suez Canal receives record monthly revenues"},"content":{"rendered":"

SUEZ CANAL-<\/strong><\/p>\n

Another record-breaking month for Suez Canal revenues: <\/strong>Suez Canal revenues grew 47% y-o-y in January to an all-time monthly high of USD 802 mn, according to a Suez Canal Authority (SCA) statement<\/a>. Some 2.15k vessels transited the canal last month, up 21.5% y-o-y, according to the figures. The authority is targeting record revenues of USD 8.7 bn<\/a> this year.<\/p>\n

FACT CHECK-<\/strong> The Suez Canal has not been leased: <\/strong>The SCA<\/a> and the ca<\/a>binet<\/a> have denied rumors circulating on social media that they had entered into agreements with foreign companies to manage the Suez Canal for a 99-year period. .The Suez Canal will remain wholly owned by the Egyptian state, and subject to its absolute sovereignty, whether in its management, operation or maintenance,\u201d the cabinet statement read.<\/p>\n

COMMODITIES-<\/strong><\/p>\n

GASC buys Russian wheat in second World Bank-backed tender: <\/strong>State grain buyer GASC bought 535k tonnes of Russian wheat for delivery in late February and early March in last week\u2019s international tender, the Supply Ministry said in a statement<\/a>, without disclosing the price it paid for the grain. Traders were quoted by Reuters<\/a> as saying that GASC bought the wheat in five separate shipments for USD 323-326 per ton on a cost and freight basis.<\/p>\n

This makes a pair:<\/strong> This is GASC\u2019s second international grain tender<\/a> so far this year and the second to be financed through a food security loan from the World Bank, which still needs to greenlight the latest purchase. Both tenders appear to have been awarded<\/a> to Russian suppliers.<\/p>\n

INFRASTRUCTURE-<\/strong><\/p>\n

More AfDB funding for feasibility studies on the <\/strong>Lake Victoria-Mediterranean river<\/a><\/strong>link<\/a><\/strong>: <\/strong>The government is in the process of finalizing an agreement with the African Development Bank (AfDB) for USD 2 mn to fund the second phase of feasibility studies on the proposed Lake Victoria-Mediterranean Sea river transport route, Transport Minister Kamel El Wzir said at an African infrastructure financing summit in Dakar last week<\/a>, according to a ministry statement<\/a>. The government previously said it was seeking some USD 11.7 mn to fund the phase-two studies, which will look into the technical, economic, and environmental aspects of the project. Preliminary studies were funded by a USD 650k grant from the AfDB.<\/p>\n

TELECOMS-<\/strong><\/p>\n

Swedish Transcom opens outsourcing center: <\/strong>Sweden-headquartered outsourcing company Transcom<\/a> has opened a center in Sixth of October\u2019s Smart Village, employing some 650 people, according to a Communications Ministry statement<\/a>. The company wants to expand the center to hire another 1k employees within three years. The ministry is working to attract more FDI to the local outsourcing industry, in December signing agreements<\/a> with 29 multinational firms to up their investments here.<\/p>\n

FINTECH\/NBFS-<\/strong><\/p>\n

Coming to a post office near you:<\/strong> Al Khair Microfinance signed a cooperation agreement with Egypt Post allowing customers to access its microfinance services at post offices across the country, according to an Egypt Post statement<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

SUEZ CANAL- Another record-breaking month for Suez Canal revenues: Suez Canal revenues grew 47% y-o-y in January to an all-time monthly high of USD 802 mn, according to a Suez Canal Authority (SCA) statement. Some 2.15k vessels transited the canal last month, up 21.5% y-o-y, according to the figures. The authority is targeting record revenues […]<\/p>\n","protected":false},"author":1,"featured_media":579383,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[1376,111,214,317,101,159,72,550,7111,7103,6583,563],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-579382","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-african-development-bank","tag-also-on-our-radar","tag-cit","tag-commodities","tag-development-finance","tag-egypt-post","tag-enterpriseam","tag-gasc","tag-infrastructure","tag-suez-canal","tag-transcom","tag-wheat","wpautop","entry"],"acf":{"mongo_id":"73b4f6ef-5b66-44e6-9f6c-5a6171d24ab7","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/2\/75.jpg","photo_position":"above","related_issue":[579362],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/ej-content-files\/.9c569f20-cfda-432a-9483-97b6c7164086.mp3"},"yoast_head":"\nSuez Canal receives record monthly revenues - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/02\/05\/suez-canal-receives-record-monthly-revenues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Suez Canal receives record monthly revenues\" \/>\n<meta property=\"og:description\" content=\"SUEZ CANAL- Another record-breaking month for Suez Canal revenues: Suez Canal revenues grew 47% y-o-y in January to an all-time monthly high of USD 802 mn, according to a Suez Canal Authority (SCA) statement. 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The SCA\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/85.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554164,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/22\/suez-canal-revenues-hit-usd-6-1-bn-so-far-this-year\/","url_meta":{"origin":579382,"position":3},"title":"Suez Canal revenues hit USD 6.1 bn so far this year","author":"enterpriseam admin","date":"22 December 2021","format":false,"excerpt":"Suez Canal revenues are up 13% y-o-y, rising to USD 6.1 bn YTD, Suez Canal Authority boss Osama Rabie said, according to a cabinet statement. The waterway recorded USD 5.61 bn in full-year receipts in 2020.Ever what? The waterway had a record-breaking year in terms of revenues and traffic volumes,\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/453.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549277,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/11\/suez-canal-sees-record-monthly-revenues-in-august\/","url_meta":{"origin":579382,"position":4},"title":"Suez Canal sees record monthly revenues in August","author":"enterpriseam admin","date":"11 September 2022","format":false,"excerpt":"Revenues at the Suez Canal hit an all-time high of USD 744.8 mn in August, the Suez Canal Authority said on Thursday. This is 32% higher than August 2021.Record tonnage + traffic: The large revenues came on the back of record tonnage and a record number of vessels transiting the\u2026","rel":"","context":"In "Suez Canal"","block_context":{"text":"Suez Canal","link":"https:\/\/enterpriseam.com\/egypt\/category\/data\/suez-canal\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547738,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/05\/as-suez-canal-sees-record-revenues\/","url_meta":{"origin":579382,"position":5},"title":"\u2026As Suez Canal sees record revenues","author":"enterpriseam admin","date":"5 July 2022","format":false,"excerpt":"Suez Canal revenues jumped 20% to a record USD 7 bn in FY2021-2022, from USD 5.84 bn the previous year, Suez Canal Authority (SCA) head Osama Rabie said yesterday. The increase came on the back of a 16% rise in the number of ships transiting the canal to 22k, and\u2026","rel":"","context":"In "Infrastructure"","block_context":{"text":"Infrastructure","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/infrastructure\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/115.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579382","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=579382"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/579382\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/579362"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/579383"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=579382"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=579382"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=579382"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=579382"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=579382"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}