Suez Canal

Egypt Loses $1 Billion from Suez Canal Blockage

Lt. Gen. Oussama Rabie, head of the Suez Canal Authority, said at a press conference on Thursday that the blockage of the Suez Canal by the container ship MV Ever Given imposed a billion dollars in damages on Egypt.

The container ship, the Ever Given, is seen moving at the Suez Canal on March 29, 2021 in Suez, Egypt. Early Monday, the Suez Canal Authority said the angle of the Ever Given, a huge container ship stuck in the canal, had been corrected by 80 percent. The ship ran aground …

Suez Canal Blockage Enters Day Two, May Last Weeks

The closure of the Suez Canal, one of the world’s busiest maritime shipping lanes, continues into its second day after a cargo ship ran aground and completely blocked passage between the Red and Mediterranean Seas. The Suez Canal Authority announced Thursday it was “temporarily suspending navigation” through the canal as maritime traffic backed up on both ends, Agence France-Presse reported.

This photo released by the Suez Canal Authority on Thursday, March 25, 2021, shows a backhoe trying to dig out the keel of the Ever Given, a Panama-flagged cargo ship, that is wedged across the Suez Canal and blocking traffic in the vital waterway. An operation is underway to try …

Egypt Military Seen as Expanding Economic Share

As Egypt braces for austerity reforms, the military has expanded its economic role, at times helping President Abdel Fattah al-Sisi assuage the impact of rising prices on the country’s poor.

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