<\/p>\n
Sudan Events – Sumaya Sayed<\/strong><\/p>\n Egypt\u2019s Suez Canal revenue plunged by almost half in January, a top official said, after attacks by Yemeni militants on Red Sea vessels forced major shipping firms to avoid the waterway.<\/p>\n Income was about $428 million last month compared with $804 million for the same period in 2023, Suez Canal Authority chief Osama Rabie, said. The number of ships navigating the canal fell 36 percent, he said. Iran-backed Houthi militants in Yemen, who began attacking merchant shipping in response to the conflict in Gaza, are showing no let-up even after the US and allies began air-strikes on Jan. 12 to deter them.<\/p>\n The Suez Canal, the shortest sea route between Asia and Europe, is an important source of foreign currency for Egypt and netted some $10.25 billion in 2023. Before the violence that\u2019s caused firms including A.P. Moller – Maersk A\/S and Hapag-Lloyd AG to divert, the country had been working on expanding the waterway. Sudan Events – Sumaya Sayed Egypt\u2019s Suez Canal revenue plunged by almost half in January, a top official said, after attacks by Yemeni militants on Red Sea vessels forced major shipping firms to avoid the waterway. Income was about $428 million last month compared with $804 million for the same period in 2023, Suez …<\/p>\n","protected":false},"author":3,"featured_media":13634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-13633","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-international"],"_links":{"self":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/13633","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/comments?post=13633"}],"version-history":[{"count":1,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/13633\/revisions"}],"predecessor-version":[{"id":13635,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/posts\/13633\/revisions\/13635"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media\/13634"}],"wp:attachment":[{"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/media?parent=13633"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/categories?post=13633"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sudanevents.com\/index.php\/wp-json\/wp\/v2\/tags?post=13633"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nThe drop is the latest headache for the North African nation that was already wrestling with its worst economic crisis in decades before the Israel-Hamas war erupted in October and threatened to disrupt trade and tourism.<\/p>\n
\n\u201cThis is the first time the Suez Canal is involved in a crisis like this,\u201d Rabie said. \u201cWe used to find every month better than the previous and every year better than the ones before.\u201d
\nEgypt is nearing a deal with the International Monetary Fund that may more than double its current $3 billion rescue package and bring in other partners.<\/p>\n","protected":false},"excerpt":{"rendered":"