Suez Canal revenues surge by 3.6 per cent
Revenue from Egypt’s Suez Canal rose 3.6 per cent in the financial year 2011/2012, ended 30 June, from a year earlier to $5.2 billion, the Suez Canal Authority said.
The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad.
The Suez Canal Authority raised toll fees for all vessels passing through the strategic waterway by three per cent from March this year.
- Trouble getting them, trouble keeping them? Middle East firms challenged in attracting, retaining talent
- Does capitalism provide a solution to terrorism?
- No pain, no gain: Tunisian economy needs three years of tough love before rebounding
- How will MENA economies look in 2015?
- Sanctions face-off: Iran to unveil its corporate side in London next week