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FinancialNews


  • 15-07-12

    Egypt's Suez canal reports USD416m revenue in June

    (MENAFN) Egypt's Suez Canal recorded USD415.9 million revenue in June, down from USD434.6 million in the previous month, Reuters reported. This figure represents a USD30 million decline from USD445.2 million generated in the same month a year ago. The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad. Opened in 1869, the Suez Canal is an artificial sea-level waterway in Egypt which connects the Mediterranean Sea and the Red Sea, and it allows water transportation between Europe and Asia without navigation around Africa.

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