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 ...

Close to 40% of digital transformation initiatives will be supported by AI capabilities.
The digital economy in Asia-Pacific, or APAC, is expected to...
An electronic stock indicator of a securities firm in Tokyo.
As investors come to terms with the impending end of easy...
Maersk is expanding its competitive universe to include different types of companies.
The world’s largest container company will start looking for...
Lloyds Profits Miss Forecasts
Lloyds Banking Group PLC raised its 2017 dividend by 20% and...
Most economists would agree that Italy needs faster economic growth if it is to resolve its public debt  and banking-sector problems in an orderly manner.
Italy’s economy is growing again, but it’s still the worst...
CBs May Top Inflation Targets
Not only will central banks meet their inflation targets, they...
NZ Says Pacific Trade Deal Will Boost GDP
New Zealand estimates a Pacific trade deal would boost its...
Pak Current Account Gap Widens
Pakistan’s current account deficit widened 28.74% on a month-...

Trending

Googleplus