CAIRO: The head of the Suez Canal Authority (SCA) said he hopes talks will soon yield an agreement with the owner and insurer of a Panamanian container ship that was impounded after it blocked the waterway for six days last month.
In a statement, Osama Rabie, the SCA chairman, expressed hopes that a solution acceptable to all parties will be found.
“The authority is dealing with all the specific requirements of the negotiation with complete flexibility, in full respect for international norms in these sorts of situations,” Rabie said.
The 400-meter Ever Given container ship ran aground and was wedged in the canal for six days last month, halting cargo traffic in the major trading link between Europe and Asia.
Rabie denied claims that the ship’s crew had been arrested, and said that the authority has no objection to crew members leaving or being replaced, provided that a sufficient number of sailors needed to secure the ship is present.
He said that the ship’s captain needs to be present as the guardian of the vessel and its cargo.
The authority has responded to all the requests made by the company regarding the crew, including allowing two crew members to leave the ship and return to their countries for personal reasons, Rabie said.
The ship’s protection and indemnity insurer, UK Club, and its technical manager, Bernhard Schulte Shipmanagement (BSM), have said they are disappointed that the ship is being held, according to Reuters.
UK Club has filed an appeal in an Egyptian court against its detention, citing a lack of supporting evidence for the SCA’s claim.
Suez Canal seeks deal with Ever Given owners
https://arab.news/vny5f
Suez Canal seeks deal with Ever Given owners
- The 400-meter Ever Given container ship ran aground and was wedged in the canal for six days last month, halting cargo traffic in the major trading link between Europe and Asia
- The authority has responded to all the requests made by the company regarding the crew, including allowing two crew members to leave the ship and return to their countries for personal reasons
Egypt’s Sawiris proposed as adidas chairman after brand posts record 2025 results
JEDDAH: Adidas has nominated Egyptian billionaire and board member Nassef Sawiris as its next chairman, succeeding Thomas Rabe.
The move comes as the German sportswear group reported strong 2025 results, with revenue rising 13 percent to a record €24.8 billion ($29 billion) and net income from continuing operations surging nearly 70 percent under CEO Bjorn Gulden.
Rabe, 60, has chaired adidas’ supervisory board since 2020 after joining in 2019. He is also chairman and CEO of Bertelsmann Management SE and CEO of RTL Group.
Cairo-born Sawiris, 65, is an investor and scion of Egypt’s wealthiest family, with an estimated net worth of $9.6 billion, according to Forbes. He runs OCI, one of the world’s largest nitrogen fertilizer producers, and oversees Orascom Construction.
His holdings include nearly 6 percent of adidas through his investment vehicle NNS.
Sawiris’ appointment is subject to shareholder approval at the May 7 annual general meeting. The supervisory board has also proposed extending Gulden’s contract to the end of 2030, following the turnaround he has led since early 2023.
“Following the Annual General Meeting, the Supervisory Board intends to elect Nassef Sawiris as Chairman of the Supervisory Board. He is to succeed Thomas Rabe as Chairman, whose term of office will end as planned at the close of the upcoming Annual General Meeting,” adidas group said in a statement.
“With Nassef Sawiris, the Supervisory Board will win an experienced entrepreneur and investor as Supervisory Board Chairman. Nassef has already accompanied adidas for many years as a Supervisory Board member and has contributed significantly to the strategic development of the company,” Rabe said.
He added that Sawiris’ significant shareholding in adidas through NNS underscores his strong and long-term commitment to the company and alignment with shareholder interests.
Sawiris, deputy chairman of the Supervisory Board since 2025, expressed his delight at the nomination, emphasizing that with vast opportunities in such an attractive industry, it is especially important for him to actively help shape adidas’s future alongside his colleagues and the executive board.
“I greatly appreciate the achievements of Bjorn and his team so far, and I am looking forward to continuing our close collaboration as we jointly guide adidas into its next chapter,” he said, extending thanks to Rabe for his long-standing leadership, the trustful collaboration, and his achievements for the company.
