Economy of Egypt
Stuck ship in Egypt’s Suez Canal imperils shipping worldwide
A skyscraper-sized cargo ship wedged across Egypt's Suez Canal further imperiled global shipping on March 25 as at least 150 other vessels needing to pass through the crucial waterway idled waiting for the obstruction to clear, authorities said.
Massive cargo ship turns sideways, blocks Egypt’s Suez Canal
A cargo container ship that's among the largest in the world has turned sideways and blocked all traffic in Egypt's Suez Canal, officials said on March 24, threatening to disrupt a global shipping system already strained by the coronavirus pandemic.
Mitsotakis meets Egyptian billionaire businessman Sawiris
Egyptian billionaire businessman Naguib Sawiris has reportedly expressed an interest in investing in Greece.
Sawiris, who is executive chairman of Orascom Investment Holding Group, declared his intentions during a meeting with Greek Prime Minister Kyriakos Mitsotakis at Maximos Mansion on Tuesday.
Egypt, France begin war games in Red Sea
A container ship crosses the Gulf of Suez towards the Red Sea, before entering the Suez Canal, as fishermen work on their nets, near Ismailia port city, northeast of Cairo, Egypt on Oct. 31. (REUTERS / Amr Abdallah Dalsh)
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Egyptian pounds slides further following floatation
The Egyptian pound is trading in banks at around 16 to the dollar, down from the 13-pound peg the Central Bank set as a guiding exchange rate when it floated the currency last week.
Banks were selling the U.S. currency at 16 pounds while buying it at around 15.5 pounds on Nov. 6, the first full business day in Egypt since the Central Bank floated the currency on Nov. 3.
Egypt's Sisi inaugurates 'new Suez Canal'
President Abdel Fattah al-Sisi kicked off a lavish ceremony on August 6 to unveil a "new" Suez Canal, as Egypt sought to boost its economy and international standing by expanding the vital waterway.
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Dacic to attend inauguration of New Suez Canal
Serbian FM and OSCE Chairman-in-Office Ivica Dacic will be Serbia's representative at the ceremony to open the New Suez Canal organized by Egypt on Thursday.
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Tsipras to meet with leaders in Egypt
Greek PM Alexis Tsipras will meet with French President Francois Hollande, Russian Prime Minister Dmitry Medvedev and Egyptian President Fattah Sisi on the sidelines of his official visit to Egypt for the inauguration of the hew Suez Canal Thursday.
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Egypt seeks cash, prestige boost with 'new Suez Canal'
Egypt on August 6 inaugurates a "new Suez Canal" waterway touted as an achievement rivalling the digging of the original, as it seeks to boost both its economy and international standing.
Egypt says 'new Suez Canal' ready for business
Egypt said on July 29 that the "new Suez Canal" was ready for navigation for all kinds of ships, as authorities geared up to launch the shipping route officially next month.
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