Latest news with #SuezCanalCompany
Zawya
22-05-2025
- Business
- Zawya
Egypt: Suez Canal for Technology Settling's standalone profits 48.3% YoY up in 6 months
Arab Finance: Suez Canal Company for Technology Settling recorded an annual jump of 48.38% in standalone net profits after tax to EGP 1.132 billion during the first six months of fiscal year (FY) 2024/2025, the financial results showed. The generated earnings were compared with non-consolidated net profits of EGP 763.289 million in the same six months in FY 2023/2024. Basic earnings per share (EPS) hiked to EGP 12.46 in the September 2024-February 2025 period from EGP 8.40 a year earlier, while the revenues jumped to EGP 1.017 billion from EGP 688.566 million. In another bourse disclosure, the company announced a cash dividend distribution of EGP 11.25 per share. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Independent
13-05-2025
- Business
- Egypt Independent
Suez Canal mulls 15% discount on transit fees, authority chief
The Chairman of the Suez Canal Authority in Egypt, Osama Rabie, on Monday announced that a study is now underway into providing a 15 percent reduction in transit fees for some companies for a specific period. During an interview with Ahmed Moussa's TV show 'Ala Massoulity' (On My Responsibility) on the privately-owned satellite channel Sada al- Balad, Rabie explained that this study aims to encourage more ships to use the Suez Canal. Rabie anticipates the decision to be formally announced in the coming days following Egyptian President Abdel Fattah al-Sisi's approval. He assured that the Suez Canal Authority is constantly working to achieve maximum economic benefit and enhance confidence in the global waterway. The transit of any number of ships through the Suez Canal will be a boon for the Egyptian state, he said. He added that 30 ships currently transit the canal daily for a global French shipping agency, indicating that the canal continues to operate despite regional tensions. Rabie explained that international shipping companies are awaiting a return to calm in the Red Sea region so that ships can resume normal transit through the Suez Canal. Jordan has requested the Suez Canal Company to manufacture a large launch for it, he said, noting that work on implementing this project is currently underway.
Arab Times
29-04-2025
- Politics
- Arab Times
From the Nakba to the present ... Who served Israel?
DO Arabs genuinely want to liberate Palestine? Have they been striving to achieve this goal for 80 years, or has the Palestinian cause merely been used as a justification for actions, crimes, coups, and revolutions by Arabs to change the previously stable regimes? This question calls for a realistic analysis to avoid injustice to anyone. Since the beginning of the project to establish the Israeli state, many movements, organizations, and entities emerged to raise the slogan of 'liberation of Palestine', as a justification for their existence, while they were actually working in the opposite direction. It began with Haj Amin al-Husseini's movement, which aligned itself with Hitler, followed by a series of ideological factions, including communist parties supported by the former Soviet Union. This period also saw nationalist movements, who hid behind the banner of 'Arab unity,' along with groups like the Muslim Brotherhood, the Dawa Party, and other sectarian organizations. Throughout eight decades, these groups have done everything to deepen Arab divisions and attempt to overthrow ruling regimes, while the original slogan faded into obscurity. This reflected the principle established by Jamal Abdel Nasser following his 1952 coup: 'The road to Palestine passes through the overthrow of reactionary regimes.' Nasser's actions led to the separation of Sudan from Egypt, despite Sudan having been under stable governance with growth rates averaging around 5.5 percent. Just ten years later, Egypt plunged into an economic crisis, largely due to the failed decision to nationalize the Suez Canal Company. Military cliques in Iraq, Syria, Sudan, followed by Libya, Yemen, and Algeria, adopted a similar path. They engaged in failed wars, beginning with the Nakba, followed by the Naksa*, and the War of Attrition. Nasser rejected the Rogers Initiative, and before that, the Arab states refused to acknowledge the UN resolution for the partition of Palestine. Tunisian President Habib Bourguiba was accused of treason when he called on the Arab nations to recognize and reconcile with Israel in 1963. During that time, the Shuqairi-Nasser slogan 'Let's throw the Jews into the sea' emerged. Each time, Arab governments, parties, and organizations wasted one opportunity after another. They created fronts of steadfastness and defiance that ultimately failed. Some Arabs relied on the Soviet Union, although it was the first to recognize Israel just seven minutes after its declaration by the United Nations. The Palestine liberation project left Syria mired in internal crises since 1963, severely hampering its economy and development. Iraq descended into a bloodbath, transforming into a vast prison, a situation that persisted until the fall of Saddam Hussein's regime. Yemen was ravaged by division, culminating in the rise of Abdul-Malik al-Houthi, whose actions sparked conflicts that eventually led to international intervention. The Houthis' obstruction of the global trade route in the Bab al-Mandab Strait triggered attacks on Yemen by foreign powers. That is why when Benjamin Netanyahu claimed to have 'begun to change the Middle East,' he was capitalizing on the Arab world's divisions and their preoccupation with sub-issues, while neglecting their shared existence and future. For example, Bashar al-Assad was solely focused on preserving his presidential position. Meanwhile, the Muslim Brotherhood and Hezbollah, acting as mercenaries of Iran, have been actively inciting sectarian conflict. Hassan Nasrallah and Naim Qassem sought to control Lebanon's decision-making process, regardless of the tens of thousands killed in the recent conflict. The losses exceeded ten thousand innocent lives and amounted to over $15 billion, which deepened Lebanon's poverty. These are just some of the disasters caused by organizations, political parties, and coup regimes that insisted on waging futile wars under the guise of grand slogans. Today, Gaza lies in ruins, with the death toll nearing 53,000 and more than 150,000 wounded. Meanwhile, the West Bank is suffering from land erosion due to the ongoing expansion of Israeli settlements. The Palestinian Authority remains constrained by various restrictions, largely because of Hamas's continued control over the Gaza Strip. The Muslim Brotherhood has sought to turn Jordan into a battleground for settling regional disputes, often aligning with Israel's interests. Israel is awaiting the deportation of West Bank residents to Jordan and the announcement of the completion of the 2018 Jewish Nation-State Law. This raises some important questions: Who has served Israel more? Is it the parties and regimes that have exploited the Palestinian cause for their own agendas, or the Arab countries, particularly the Gulf states, that have pursued realistic policies and maintained stability in the face of regional challenges?
