Reported 1 day ago
The ongoing conflict in Gaza is anticipated to ease, potentially restoring global shipping traffic through the Suez Canal by 2025, according to the canal's chief. Recent months have seen a drastic 60% drop in traffic due to instability from Houthi rebel attacks. As major shipping lines rerouted via Africa, the Suez Canal Authority suffered a significant loss in toll revenues. However, negotiations between Hamas and Israel may lead to an expected normalization of shipping activities this year, positively impacting Egypt's economy, which relies heavily on canal tolls.
Source: YAHOO