#Suez Canal

IMF, Egypt sees progress on loan program

IMF sees progress on Egypt loan program amid Gaza pressures

IMF spokesperson told a regular news briefing that IMF staff and Egyptian authorities agreed on the main elements of program changes

Red Sea

Retailers demand more action from EU to resolve Red Sea crisis

Retailers calling for firm action include members such as supermarket giants Carrefour, Lidl, M&S, and Tesco

Egypt raises minimum wage by 50% as part of ‘urgent’ package

Egypt raises minimum wage by 50% as part of ‘urgent’ package

The Egyptian pound, fixed at EGP30.85 to the dollar since March, traded on the black market earlier this month as low as EGP71 to the dollar

Business as usual for Suez Canal as Egypt denies suspension

Navigation movement in Egypt’s Suez Canal is regular from both directions, says a top official from that country

suez canal

Shipping traffic through Suez Canal down 20% due to Middle East tensions

The Suez Canal is an important source of dollar revenues for Egypt

ANTONY-BLINKEN-MAHMOUD-ABBAS-STATE-DEPT

Antony Blinken back in the Middle East as Israel crisis rages on: 8 countries on tour list

Blinken’s visit to the region comes amid an escalation to the crisis in the Middle East

red sea

How could Red Sea tensions affect oil and gas shipping?

About 12 per cent of world shipping traffic transits the canal and 4-8 per cent of global LNG cargoes have passed through it in 2023

Egypt seizes Suez Ship ‘Ever Given’ pending $900m compensation

The Suez Canal Authority has said compensation is needed to cover losses of transit fees

Suez Canal authorities say backlog of ships is now cleared

Overall, 422 vessels passed through since the tanker was freed on March 29

Suez Canal reopens to traffic after giant ship is freed, operations to return to normal ‘within days’

Hundreds of vessels carrying everything from oil to livestock were forced to wait in line after the Ever Given became stuck in the canal

Container ship Ever Given is seen at the Suez Canal on March 28, 2021

Giant ship blocking Suez Canal ‘partially refloated’

Ever Given has been stuck since Tuesday, causing a backlog of hundreds of ships and snarling global supply lines

Ever Given grounding: Suez Canal closure highlights marine industry risks

The Suez Canal Authority temporarily suspended navigation in the canal on March 25

Your instant coffee may soon be at risk from Suez blockage

About 12 per cent of global trade goes through the Suez

Oil bounces back as US supply report hints at demand revival

A US inventory report showed domestic fuel consumption is at the highest in four months