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Egypt’s Suez Canal Authority reported that revenues for January 2024 witnessed a massive decrease of 46% compared to the same period in 2023, from $804 million to $428 million. The Authority’s Chairman, Osama Rabie, said in televised statements that 1,362 ships crossed the Canal in January of 2024, compared to 2,155 vessels in January 2023, a 36% drop. Rabie noted that this is the first time the Suez Canal has gone through a crisis, adding that the Authority held many meetings with shipping bodies and companies to reach a solution.

Arguments for American responsibility for the war in Ukraine tend to give undue credit to Russian narratives. An essay in The American Conservative is a case in point. 

ALBAWABA – After a Crude Oil ship operated by the commodities company Trafigura was attacked by the Yemeni Houthis while crossing through the Red Sea la

(Bloomberg) -- Egypt raised interest rates for the first time since August, breaking expectations with a move that might speed up progress on a bigger rescue package with the International Monetary Fund and set the stage for another devaluation.Most Read from BloombergMeta’s $197 Billion Surge Is Biggest in Stock-Market HistoryDonald Trump Loses London Case Against Ex-MI6 Spy Over Kremlin DossierA $560 Billion Property Warning Hits Banks From NY to TokyoThe Most Popular Man in Ukraine Has Become

Even tankers transporting Russian fuels have started to avoid the Suez Canal route to Asia due to rising risks in the region.