1435
Suez Canal Revenues Rise 12%
World Economy

Suez Canal Revenues Rise 12%

Egypt’s revenues from the Suez Canal totaled $510 million in August, a 12 percent increase from the $455 million generated in the same time last year, according to Egypt’s Information Portal (EIP).
The new figure also represents a 5.8 percent rise from the previous month’s revenues of $482.2 million, Ahram Online reported.
According to Mohab Memish, the head of the canal authority (SCA), revenues reached a substantial $5.3 billion in the fiscal year ending June 2013, the highest revenues since its opening in 1869 and a 5.5 percent increase from the last fiscal year.
The number of vessels passing through the canal this August amounted to 1,577, an 8.8 percent increase from 1,449 vessels in the same period a year earlier, showed the EIP data.
The artificial waterway which connects the Mediterranean Sea and Red Sea is one of the country’s main sources of foreign currency revenue, along with tourism and remittances from Egyptian expatriates.

Short URL : http://goo.gl/PbqAtl

You can also read ...

Qatar Capable of Overcoming Siege Challenges
Qatar affirmed its ability to overcome the challenges of the...
Apple Inc won guarantees from the Trump administration that its lucrative iPhones would ship from China  without being subject to tariffs.
Big companies in the United States from Amazon.com Inc to...
Japan Inflation Inches Higher
Japan’s inflation picked up slightly in June, largely because...
Today, income inequality in the US is greatest among Asians. Asians displaced blacks as the most economically divided racial or ethnic group in the US.
The rich are getting richer and the poor are getting poorer in...
Argentina Making Fiscal Progress
Argentina is “unequivocally” making progress on its goals to...
State-Actors Likely Behind Singapore Cyberattack
State-actors were likely behind Singapore’s biggest ever...
S&P Affirms Russia’s Stable Outlook
Standard & Poor’s said in a statement on Friday that it...
Growing Inflation Looms Large Over India’s Economy
From rising crude oil prices to a poor start to rice-planting...

Trending

Googleplus