The massive ship that was wedged in the Suez Canal has been freed. The Ever Given, one of the world's largest container ships, became stuck in the waterway last Tuesday, blocking all traffic in one of the world's busiest waterways. Around 50 ships, carrying everything from consumer products to cars and oil to animals, pass through the Suez Canal each day.
The Ever Given, one of the world's largest shipping vessels, has blocked all traffic in the Suez Canal since running aground.
The stranded mega-container vessel, Ever Given in the Suez Canal, is holding up an estimated $400 million an hour in trade, based on the approximate value of goods that are moved through the Suez every day, according to shipping data and news company Lloyd's List. It could take days, even weeks, to re-float the cargo ship.
Two trains collided on Friday in southern Egypt, causing three passenger cars to flip over, killing 32 people and leaving 66 injured, health authorities said.
The massive container ship that ran aground in the Suez Canal, halting traffic in one of the world's busiest waterways, is still stuck. The ship, called the Ever Given, became horizontally wedged in the waterway following heavy winds. Nearly 19,000 ships passed through the canal during 2020, for an average of 51.5 per day, according to the Suez Canal Authority.
The shipping delays could raise gas prices and impact everything from the clothes and shoes you ordered to gym equipment, electronics, food and energy supplies.
Cargo ship Ever Given is still stuck in the Suez Canal, holdings up billions of dollars in goods as more than 100 vessels await passage.
A cargo container ship that's among the largest in the world has turned sideways and blocked all traffic in Egypt's Suez Canal, officials said Wednesday, threatening to disrupt a global shipping system already strained by the coronavirus pandemic. The Egyptian official said tugboats hoped to refloat the ship and that the operation would take at least two days. Around 10% of the world's trade flows through the waterway and it remains one of Egypt's top foreign currency earners.
Satellite imagery gives another perspective on the developing situation in Egypt's Suez Canal, where a mega container ship was turned sideways and became stuck.
Naguib Sawiris, chairman and CEO of Orascom Investment Holding, weighs in on Turkish President Recep Tayyip Erdogan's recent decision to fire the country's central bank chief.
Goldman Sachs has named the stocks – and countries – it expects to benefit from a jump in crude prices.
The Al-Ula declaration resolves all of the outstanding issues that Qatar and other Arab nations had, said Faisal bin Farhan al-Saud, Saudi's foreign minister.
Outgoing U.S. Energy Secretary Dan Brouillette visited Abu Dhabi to discuss regional energy security with counterparts from the UAE, Bahrain and Israel.
Israel has charged past the U.S. and New Zealand to emerge as the world's best place to be a woman entrepreneur after Covid-19 shook up the annual rankings.
Turkey and Greece are at loggerheads over competing claims to energy reserves in contested Eastern Mediterranean waters.
Egypt's Minister of International Cooperation, Rania Al-Mashat, discusses the resumption of global tourism and its impact on the Egyptian economy.
The lockdown over the country of 1.35 billion, first implemented on March 24, has caused widespread hunger and joblessness.
While the month of May could become the crucial period to assess the quality and quantum of this economic rebound, analysts warn there are still a few red flags to watch out for.
The coronavirus outbreak in the Middle East is likely to remain under control despite the easing of restrictions in recent weeks, as long as strict social distancing continues to be enforced, experts told CNBC.
The global pandemic would have been more difficult for Egypt if not for comprehensive reforms on taxes, budgets and foreign exchange that the country undertook, said Rania al-Mashat, minister for international cooperation.
