Egyptian President Abdel Fattah al-Sisi
Audio By Carbonatix
Events in the Red Sea and regional challenges cost Egypt around $7 billion in revenues from the Suez Canal in 2024, Egyptian President Abdel Fattah al-Sisi said on Thursday.
Egypt lost more than 60% of the canal's revenues in 2024 compared with 2023, Sisi added in his statement, without going into details on the events.
Houthi fighters in Yemen have carried out nearly 100 attacks on ships crossing the Red Sea since November in solidarity with Palestinians in Israel's more than year-old war in Gaza.
The attacks have forced shipping firms to divert vessels from the Suez Canal to longer routes around Africa, disrupting global trade by delaying deliveries and sending costs higher.
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Tags:
DISCLAIMER: The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.
Latest Stories
-
Between faith and rights: A nuanced strategic view on the debate over an Islamic widow’s political ambition
1 minute -
At worst, Baba Jamal should have been fined – Vitus Azeem
7 minutes -
Gender Minister visits the 31st December Women’s Day Care Centre and the Makola clinic
9 minutes -
Ayawaso East NDC primary: Why feed people for votes? Are they your children? – Kofi Kapito
14 minutes -
Ziavi Traditional Area begins funeral rites for Togbega Ayim Kwaku IV
22 minutes -
Photos: Mahama swears in Presidential Advisory Group on Economy
23 minutes -
Ghana intensifies boundary pillar construction with Côte d’Ivoire
23 minutes -
NHIA settles December–January claims worth GH¢400m for service providers
28 minutes -
Mahama warns economic advisers of ‘rough road ahead’ amid debt distress
29 minutes -
EC engages political parties in preparatory meeting for March 3 Ayawaso East by-election
32 minutes -
Forgiveness key to restoring broken relationships – Rev. Daniel Annan
32 minutes -
Joy Prime partners ALM for 2026 African Leadership Awards in Accra
39 minutes -
Retaining Baba Jamal shows NDC condones vote-buying – Vitus Azeem
42 minutes -
AG ordered to disclose Ghana-US deportation agreement to Democracy Hub
46 minutes -
Richard Osei-Anim joins Ishmael Yamson & Associates as Senior Partner to lead AI Global Practice
53 minutes