Suez Canal Authority Chairman Osama Rabie said on Wednesday that the Red Sea crisis did not create a sustainable route to replace the canal, adding that there were positive indicators for the return of stability in the region.
Osama Rabie, Chairman of the Suez Canal Authority, Reuters/Mohamed Abd El Ghany
Suez Canal Authority Chairman Osama Rabie said on Wednesday that the Red Sea crisis did not create a sustainable route to replace the canal, adding that there were positive indicators for the return of stability in the region.
Iran-backed Houthi militants have attacked vessels in the Red Sea area since November 2023, disrupting global shipping lanes by forcing vessels to avoid the nearby Suez Canal and reroute trade around Africa, raising the costs for insurers.
Reporting by Momen Saeed Atallah
Commercial ships still sailing through the Red Sea are broadcasting messages about their nationality and even religion on their public tracking systems to avoid being targeted by Yemen's Houthis after deadly attacks this week by the militia.
Rescuers pulled three more crew members and a security guard alive from the Red Sea on Thursday, maritime security sources said, a day after Houthi militants sank the Greek ship Eternity C and said they were holding some of the crew still missing.
Egypt’s economic growth rebounded strongly in the third quarter of fiscal year 2024/2025, reaching 4.77%, up from 2.2% during the same period last year, according to Prime Minister Mostafa Madbouly.
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