Egypt’s gross domestic product (GDP) growth rate recorded 4.3% in the second quarter (Q2) of fiscal year (FY) 2024/2025.

Egypt incurs monthly losses estimated at nearly $800 million in Suez Canal revenue due to the current situation in the region

Chairman of the Suez Canal Authority (SCA) Osama Rabie announced the start of the actual operation of the Suez Canal duplication project within the southern sector, enhancing navigation for global trade.

Traffic through the Suez Canal is expected to gradually return to normal by late March, with a full recovery anticipated by mid-2025, provided the ceasefire in Gaza continues.

Revenues from the Suez Canal dropped by over 60% year on year (YoY) in 2024, resulting in an estimated $7 billion loss for Egypt.

The Suez Canal Authority (SCA) announced the successful trial operation of the Suez Canal doubling project in the Bitter Lakes.

SCZone Istithmar, a wholly-owned entity of the General Authority for the Suez Canal Economic Zone (SCZone), has invited for companies to submit prequalification applications for a long-term water purchase agreement.

The Suez Canal Authority (SCA) and the International Chamber of Shipping (ICS) have signed a Memorandum of Understanding (MoU) to continue their ongoing cooperation in training, green transformation, and marketing.

The newly redeveloped Port Tawfiq Walkway, overlooking the Suez Canal, was officially opened on October 26th after being shut down for 13 years.

Egypt’s external debt dropped by more than $15 billion in six months, reflecting the government’s reform efforts, Prime Minister Mostafa Madbouly announced.

Egypt has lost $6 billion in Suez Canal revenues over the past seven to eight months due to escalating geopolitical tensions in the region, President Abdel Fattah El-Sisi stated during the 2024 graduation ceremony of the Police Academy on September 29th.

Suez Canal Bank (CANA) posted a 187.85% year-on-year (YoY) increase in net profits after tax for the first half (H1) of 2024, according to the financial income statement filed to the Egyptian Exchange (EGX) on August 14th.

The Suez Canal Authority's (SCA) affiliate company Canal Mooring & Lights Co. is set to be listed on the Egyptian Exchange (EGX) in early 2025.

The Suez Canal revenues dropped by 23% year on year (YoY) to $7.223 billion during the fiscal year (FY) 2023/2024, compared to $9.399 billion.

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.