{"id":657896,"date":"2024-12-29T00:00:00","date_gmt":"2024-12-29T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/29\/regional-escalations-has-cost-egypt-some-usd-7-bn-in-suez-canal-revenues\/"},"modified":"2024-12-29T00:00:00","modified_gmt":"2024-12-29T00:00:00","slug":"regional-escalations-has-cost-egypt-some-usd-7-bn-in-suez-canal-revenues","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/12\/29\/regional-escalations-has-cost-egypt-some-usd-7-bn-in-suez-canal-revenues\/","title":{"rendered":"Regional escalations has cost Egypt some USD 7 bn in Suez Canal revenues"},"content":{"rendered":"

Good morning, all<\/strong>, and welcome to the very last Sunday of the year. <\/strong>We are taking these last few days of the year to reflect back on the year that has passed \u2014 and what a year it has been. We have recaps of what went down on the macro level, on the expansions front, and in the tourism sector this past year. <\/p>\n

^^ All of that and more in the news well, below. <\/p>\n

DATA POINT- <\/p>\n

<\/a> Ongoing regional escalations have cost us some USD 7 bn in Suez Canal revenues this year <\/strong>alone<\/strong>, according to an Ittihadiya statement<\/a>. While the statement doesn\u2019t mention how much the canal made in revenues this year, it says that the figure is 60% lower than 2023\u2019s figure. <\/p>\n

SPEAKING OF THE SUEZ CANAL- <\/strong>The canal has successfully tested a new 10km lane in the southern section of the waterway, according to a statement<\/a>. The trial saw the passage of two ships through the new stretch. Four other ships meanwhile navigated the original eastern canal. <\/p>\n

Details of the upgrade:<\/strong> The extension increases the length of the canal\u2019s two-way section to 82 km \u2014 up from 72 km. \u201cThe extension is set to enhance navigational safety, reduce the impact of winds and currents, and raise the canal\u2019s capacity by an additional 6-8 vessels daily,\u201d Suez Canal Authority head Osama Rabie said.<\/p>\n

IN THE HOUSE- <\/p>\n

<\/a> The House is reconvening today and tomorrow <\/strong>to discuss and vote on the draft Criminal Procedures Law\u2019s articles. MPs preliminary approved the draft Criminal Procedures Law<\/a> earlier this month after weeks of discussions.<\/p>\n

Also on the agenda:<\/strong> MPs will also discuss and vote on four agreements with Italy, Canada, and the African Development Bank. <\/p>\n

WATCH THIS SPACE- <\/p>\n

<\/a> The <\/strong>Mostakbal Misr Agency for Sustainable Development<\/a><\/strong> has secured 1.3 mn tons <\/strong>of wheat<\/strong>, securing Egypt\u2019s supply through June 2025, Reuters<\/a> reports citing two sources it says have knowledge of the matter. The majority of the contracts were sourced from Russia, with shipments already arriving at Egyptian ports and more scheduled for the coming months. <\/p>\n

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Get Enterprise<\/b> daily <\/h4>\n<\/p><\/div>\n

The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n

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PSA- <\/p>\n

WEATHER- <\/strong>Brace for another cold week in Cairo. Today the capital is in for a high of 18\u00b0C and a low of 10\u00b0C, according to our favorite weather app.<\/p>\n

It\u2019s as cold in Alexandria<\/strong>, with a high of 17\u00b0C and a low of 10\u00b0C.<\/p>\n

** DID YOU KNOW that we now cover <\/strong>Saudi Arabia<\/a><\/strong> and the <\/strong>UAE<\/a><\/strong>?<\/strong><\/p>\n

** Were you forwarded this email?<\/strong> Tap or click here<\/a> to get your own copy delivered every weekday before 7am Cairo time \u2014 without charge.<\/p>\n

CIRCLE YOUR CALENDAR- <\/p>\n

Egypt\u2019s first joint-stock ship waste management company will launch mid-January<\/strong>, a little later than originally expected as it works to complete establishment procedures, Al Borsa<\/a> reports. The EGP 100 mn company \u2014 which has received around 60 participation requests thus far \u2014 aims to manage ship waste in Port Said and the Suez Canal. <\/p>\n

Check out our full calendar on the web<\/a><\/strong> for a comprehensive listing of upcoming news events, national holidays and news triggers.<\/p>\n

\n

THE BIG STORY ABROAD- <\/p>\n

It\u2019s a pretty quiet morning in the western press<\/strong> as the news slowdown drags on.<\/p>\n

Trump asks Supreme Court to delay TikTok ban:<\/strong> US president-elect Donald Trump is pushing for the Supreme Court to pause a law requiring TikTok\u2019s Chinese owner, ByteDance, to sell the platform to a US company or face a nationwide ban by 19 January. Trump argued his incoming administration needs time to find a reasonable political resolution. (Reuters<\/a> | BBC<\/a> | CNN<\/a> | Bloomberg<\/a> | The Guardian<\/a>) <\/p>\n","protected":false},"excerpt":{"rendered":"

Good morning, all, and welcome to the very last Sunday of the year. We are taking these last few days of the year to reflect back on the year that has passed \u2014 and what a year it has been. We have recaps of what went down on the macro level, on the expansions front, […]<\/p>\n","protected":false},"author":1,"featured_media":657897,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[7204],"tags":[72,7103,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-657896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today","tag-enterpriseam","tag-suez-canal","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"a273be65-fea6-42f3-83d7-4ed62c5a9e06","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/12\/2402.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Regional escalations has cost Egypt some USD 7 bn in Suez Canal revenues","related_issue":[657894],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/12\/.be816ccf-171f-4b98-a8da-9ae183e88755.mp3"},"yoast_head":"\nRegional escalations has cost Egypt some USD 7 bn in Suez Canal 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\/2024\/12\/29\/regional-escalations-has-cost-egypt-some-usd-7-bn-in-suez-canal-revenues\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Regional escalations has cost Egypt some USD 7 bn in Suez Canal revenues\" \/>\n<meta property=\"og:description\" content=\"Good morning, all, and welcome to the very last Sunday of the year. 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The revenues would mark a slight increase over last year\u2019s USD 5.6 bn.","rel":"","context":"In "Egypt Politics + Economics"","block_context":{"text":"Egypt Politics + Economics","link":"https:\/\/enterpriseam.com\/egypt\/category\/egypt-politics-economics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":600200,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/22\/suez-canal-revenues-rise-to-usd-5-7-bn-in-2018\/","url_meta":{"origin":657896,"position":1},"title":"Suez Canal revenues rise to USD 5.7 bn in 2018","author":"enterpriseam admin","date":"22 January 2019","format":false,"excerpt":"Suez Canal revenues rose to USD 5.7 bn in 2018, up from USD 5.3 bn the previous year, according to Reuters calculations based on government data.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":634144,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/01\/08\/suez-canal-revenues-rise-5-4-in-2017\/","url_meta":{"origin":657896,"position":2},"title":"Suez Canal revenues rise 5.4% in 2017","author":"enterpriseam admin","date":"8 January 2018","format":false,"excerpt":"Suez Canal revenues rose 5.4% y-o-y in 2017 to USD 5.3 bn, up fractionally from USD 5 bn in 2016, Al Borsa reports. The canal saw increased traffic throughout the year with ships carrying heavier cargo loads, Suez Canal Authority head Mohab Mamish said.","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":627945,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/06\/19\/suez-canal-revenues-rise-11-5-y-o-y-during-fy2017-18\/","url_meta":{"origin":657896,"position":3},"title":"Suez Canal revenues rise 11.5% y-o-y during FY2017-18","author":"enterpriseam admin","date":"19 June 2018","format":false,"excerpt":"Also good for the nation\u2019s finances: Record Suez Canal revenues. Suez Canal revenues rose 11.5% y-o-y during FY2017-18 to USD 5.585 bn, up from USD 5.008 bn in FY2016-17, according to the Suez Canal Authority. The canal\u2019s revenues during the current fiscal year mark an all-time high, authority chief Mohab\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":608345,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/18\/suez-canal-transit-fees-to-rise-next-year-plus-news-from-the-fra\/","url_meta":{"origin":657896,"position":4},"title":"Suez Canal transit fees to rise next year. PLUS: News from the FRA","author":"enterpriseam admin","date":"18 October 2023","format":false,"excerpt":"The government now expects canal revenues to rise by more than a third this year to USD 10.3 bn","rel":"","context":"In \"ALSO ON OUR RADAR\"","block_context":{"text":"ALSO ON OUR RADAR","link":"https:\/\/enterpriseam.com\/egypt\/tag\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/10\/887.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":644651,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/30\/ongoing-geopolitical-tensions-continue-to-hurt-suez-canal-revenues\/","url_meta":{"origin":657896,"position":5},"title":"Ongoing geopolitical tensions continue to hurt Suez Canal revenues","author":"enterpriseam admin","date":"30 September 2024","format":false,"excerpt":"Good morning, all. We have a brisk issue for you this morning as the news flow slows down after a particularly busy weekend. BUT BEFORE WE DIVE IN- We have a long weekend ahead: Public and private sector workers will have Sunday, 6 October off in observance of Armed Forces\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/9\/2222.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\/657896","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=657896"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/657896\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/657894"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/657897"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=657896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=657896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=657896"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=657896"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=657896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}