CAIRO: Events in the Red Sea and regional challenges cost Egypt around $7 billion in revenues from the Suez Canal in 2024, Egyptian President Abdel Fattah El-Sisi said on Thursday.
Egypt lost more than 60 percent of the canal’s revenues in 2024 compared with 2023, El-Sisi added in his statement, without going into details on the events.
Houthi fighters in Yemen have carried out nearly 100 attacks on ships crossing the Red Sea since November in solidarity with Palestinians in Israel’s more than year-old war in Gaza.
The attacks have forced shipping firms to divert vessels from the Suez Canal to longer routes around Africa, disrupting global trade by delaying deliveries and sending costs higher.
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Regional challenges cost Egypt around $7 bln of Suez Canal revenues in 2024, El-Sisi says
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Regional challenges cost Egypt around $7 bln of Suez Canal revenues in 2024, El-Sisi says
- Egypt lost more than 60 percent of the canal’s revenues in 2024 compared with 2023, El-Sisi said
Baghdad airport reopens after weather disruption
- A thick fog has blanketed the capital Baghdad and several areas in Iraq, drastically reducing visibility since the early morning hours
BAGHDAD: Baghdad International Airport reopened Thursday after a 12-hour halt due to bad weather, the transport ministry said.
Authorities announced at around 12:30 a.m. (2130 GMT) they had temporarily shut Baghdad airport to air traffic because of poor weather conditions and fog that drastically reduced visibility.
Other airports, Najaf in central Iraq and Sulaimaniyah in the northern Kurdistan region, were also closed.
The transport ministry said at midday Thursday the “airspace has been reopened” at Baghdad and Najaf airports, according to the official INA press agency.
Heavy rains over the past two days caused flooding in several areas in Iraq, particularly in the autonomous Kurdistan region.
Floods in the north killed at least three people, including a child, according to local authorities. A key bridge connecting the northern city of Kirkuk to Baghdad also collapsed.
Authorities hope the heavy rains will help alleviate water shortages in drought-stricken Iraq, after water reserves in artificial lakes hit their lowest levels in the country’s recent history following a dry season.
Iraq, heavily impacted by climate change, has been ravaged for years by drought and low rainfall.
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