Egyptian Minister of Petroleum Karim Badawi and Yemen’s Minister of Oil and Minerals Saeed Suleiman Al-Shamasi reviewed investment opportunities in the fields of petroleum and mining.

Sky Tower for Real Estate Development, in which Emaar Misr for Development holds a stake, has signed a strategic partnership agreement with Golden Coast Company.

Chairman of the Suez Canal Authority (SCA) Osama Rabie held virtual talks with A.P. Moller-Maersk Group's CEO Vincent Clerc and other senior executives to explore ways to enhance cooperation.

Six ships linked to the UK and the US have returned to the Red Sea since January 19th, 2025.

Egypt is set to establish three new shipyards in the Suez and Red Sea governorates in partnership with the private sector.

Egypt is set to offer four to five coastal areas along the Red Sea, including Ras Benas, to investors, Prime Minister Mostafa Madbouly said in a press conference.

Madinet Masr is seeking to acquire additional land plots in East and West Cairo, the North Coast, and the Red Sea.

For decades, Egypt's pristine beaches have captivated tourists seeking a taste of paradise. Now, Egyptian tourism officials are setting their sights beyond the allure of traditional beach vacations. Hence, the country is taking steps to elevate the tourism experience and boost economic growth.

Fine Solutions, the away-from-home division of Fine Hygienic Holding, has organized a number of workshops on food safety and hygiene practices for 30 hotels in the Red Sea.

Trade volume through the Suez Canal plummeted by 50% year on year (YoY) in the first two months of 2024, as per data from the International Monetary Fund’s (IMF) PortWatch.

The Suez Canal revenues are likely to decline to $5 billion in 2024 if disruptions at the Red Sea persisted until the end of the year, compared to revenues of $10.25 billion in 2023, Chairman of the Suez Canal Authority (SCA) Osama Rabie said.

The escalating tensions in the Red Sea have weighed on the Egyptian exports of liquefied natural and petroleum gas (LNG and LPG), adding an element of ongoing uncertainty in the country’s export market in the first quarter (Q1) of the year.

Major shipping firms, A.P. Moller-Maersk and Norden, are warning that the security threat in the Red Sea is continuing to escalate, despite the West’s efforts to abate the attacks by Yemen’s Houthis.

Maersk is planning to divert its container ships from the Red Sea - Gulf of Aden to Africa's Cape of Good Hope for the foreseeable future, the Danish shipping giant announced.