Suez Canal witnesses transit of world’s largest container ship

The Suez Canal traffic statistics for October recorded the return of 229 vessels, marking the highest monthly rate of returning vessels since the beginning of the Red Sea crisis

The Ministry of Petroleum and Mineral Resources has launched a new international bid round for new exploration opportunities in four blocks across the Red Sea.

Minister of Petroleum and Mineral Resources Karim Badawi called on Chevron to expand its investments in Egypt, particularly in the promising areas for oil and gas upstream activities in the Red Sea

The Red Sea coastline, with its pristine beaches, year-round sunshine, and strategic location, emerges as one of Egypt’s most promising frontiers for economic development. As the government seeks to diversify its economy and boost tourism, attracting private sector investment to purchase and develop land along this stretch of coast has become significant. From luxury resorts to integrated tourism hubs, the potential for job creation, foreign revenue inflows, and regional revitalization is immense.

Sky Tower for Real Estate Development, a unit of Emaar Misr for Development, signed a deal with Golden Coast for Hotels, Tourist Villages, and Entertainment to develop an integrated tourism project

CIRA Education has acquired a 51% stake in L'Ecole Française d'Hurghada, marking its first entry into the Red Sea region's international education sector

Red Sea National Petrochemicals Company and China National Chemical Engineering Co., Ltd. (CNCEC) signed a non-binding framework agreement to implement a petrochemicals project in the Suez Canal Economic Zone (SCZone).

Egypt’s Ministry of Finance confirmed that the 174.4 million square meters of land allocated along the Red Sea will be developed, refuting claims that it will be sold.

The Suez Canal Authority (SCA) has announced a 15% discount on transit fees for container ships with a net tonnage of 130,000 tons or more for 90 days.

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.