11.1 C
London
Monday, September 26, 2022

Egypt’s Suez Canal Records Highest Ever Revenue of $7 Billion

Must read

The Zepto Boys: Competition that Amazon never saw coming

One year old quick commerce player Zepto is making Amazon and Flipkart look like legacy companies with delivery times of more than a...

New Marilyn Monroe Movie ‘Blonde’ Enjoys Victimizing Her Heroine

In 2010 three chest and pelvic X-rays of Marilyn Monroe sold for $45,000. Famous memorabilia will always fetch a pretty penny, but auctioning...

Interpol issues red notice to Terraform founder Do Kwon • londonbusinessblog.com

Interpol has issued a red alert to Do Kwon, urging law enforcement agencies around the world to locate and arrest the Terraform Labs founder...

Disperse, which brings AI-powered data to construction projects, raises $16 million • londonbusinessblog.com

To spreada UK-based construction technology company that provides an artificial intelligence (AI) powered platform to help project managers track work and capture data from...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.

Egypt’s Suez Canal AuthoritySCA) reported record revenue of $7 billion for fiscal year 2021/2022, up 20.7 percent from a year earlier.



“Income is the highest figure on record and is more than a fifth higher than last fiscal year’s $5.8 billion in transit costs,” Xinhua . news agency quoted SCA chairman Osama Rabie as said.

He added that in the fiscal year, which ended on June 30, about 1.32 billion tons of cargo was shipped through the canal.

Ongoing global crises have increased the importance of the Suez Canal in ensuring the sustainability of global supply chains, the SCA chairman added.

The Suez Canal is an important lifeline for global maritime trade as it allows ships to travel between: Europe and South Asia without navigating around Africa, reducing the sea voyage distance between Europe and India by about 7,000 km.

About 12 percent of world trade goes through the artificial channel, which is a major source of hard currency in Egypt

ALSO SEE:

Eknath Shinde wants to ‘breathe’ and spend time with families

India’s 30 major reservoirs plunge to 10-year low after erratic June rainfall

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

The Zepto Boys: Competition that Amazon never saw coming

One year old quick commerce player Zepto is making Amazon and Flipkart look like legacy companies with delivery times of more than a...

New Marilyn Monroe Movie ‘Blonde’ Enjoys Victimizing Her Heroine

In 2010 three chest and pelvic X-rays of Marilyn Monroe sold for $45,000. Famous memorabilia will always fetch a pretty penny, but auctioning...

Interpol issues red notice to Terraform founder Do Kwon • londonbusinessblog.com

Interpol has issued a red alert to Do Kwon, urging law enforcement agencies around the world to locate and arrest the Terraform Labs founder...

Disperse, which brings AI-powered data to construction projects, raises $16 million • londonbusinessblog.com

To spreada UK-based construction technology company that provides an artificial intelligence (AI) powered platform to help project managers track work and capture data from...

Marketing Tech Startup Livewire Raises $4.7M Series A

Sydney startup Livewire, which brings gaming marketing to corporate promotions, has raised $4.7 million in a Series A. The round was led by RealVC, with...