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    Omanyano ovanhu koikundaneki yomalungula kashili paveta, Commisiner Sakaria takunghilile Veronika Haulenga

Suez Canal

4 Results / Page 1 of 1

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Business / Economics

Egypt raises fuel prices as part of IMF-backed reforms

      Egypt announced Thursday a 15-percent increase in petrol prices, part of a reform package requested by the International Monetary Fund to proceed with a $5 billion loan to the cash-strapped government. The Egyptian petroleum ministry said the price hike would come into effect on Friday. The announcement comes ahead of an IMF meeting on Monday to review the April payout package, unlocking $820 million in funds after […]

todayJuly 25, 2024 10

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Opinion Pieces

Houthi militant attacks in the Red Sea raise fears of Somali piracy resurgence

    By Samuel Oyewole, Federal University, Oye Ekiti Renewed attacks on ships by suspected Somali pirates since November 2023 have fuelled fear of a new threat of piracy off the east coast of Africa. The area at risk stretches from the Red Sea to the Gulf of Aden and the Indian Ocean. At least four ships have been hijacked off the Somalia coast since November 2023. Concern has risen […]

todayFebruary 1, 2024 7

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Business / Economics

Transnet confirms no container vessels at SA ports as shipping lines divert

South Africa’s Transnet has confirmed that no container vessels are expected to anchor at SA ports, despite major shipping lines rerouting their vessels via the Cape of Good Hope route due to rebel attacks in the Red Sea region. According to CNN, some 100 ships have been attacked in the last month—about 15 percent of world shipping traffic transits via the Suez Canal.

todayDecember 21, 2023 27

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Business / Economics

Houthi attacks disrupt Red Sea shipping

Analysts warn that recent attacks on commercial ships in the Red Sea by Houthi rebels may raise oil and goods prices. Companies, including Maersk, are diverting shipments via Africa's Cape of Good Hope to avoid the affected route, causing potential delays, as explained by Guy Platten from the International Chamber of Shipping. Meanwhile, the BBC reports that the disruption has led the United States to launch an international naval operation […]

todayDecember 19, 2023 35

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