Jun 11 2011 |
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Egypt Suez Canal Rev +12% At $2.09B In First 5 Mos Vs Yr Earlier-Report
Saturday, Jun 11, 2011
BEIRUT (Zawya Dow Jones)--Egypt's Suez Canal's revenues rose 12% to $2.09 billion in the first five months of 2011 from nearly $1.87 billion in the year earlier period, pan-Arab Asharq Al Awsat daily reports Saturday citing an official at the Suez Canal Authority , or SCA .
The SCA administration attributed the increase to a growth in world trade, improvements made in the canal, and the discounts offered to some kinds of vessels, the paper reports.
The canal's revenues totaled $436.6 million in May, up 10.5% compared with the same month a year earlier, the daily says.
The Suez Canal is considered a major source of hard currency for Egypt, along with tourism, oil and gas exports, and remittances from Egyptian expatriates, the paper says.
-By Beirut Bureau, Zawya Dow Jones; +961-1-985 757; BeirutZDJ@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
11-06-11 1057GMT
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