Egypt’s Suez Canal revenue rose to a record $5.84 billion in its 2020-21 financial year (July-June), up from $5.72 bln in the previous year, the Suez Canal Authority said on Sunday, reported Reuters.

The ship that blocked the Suez Canal finally left Egypt on Wednesday following an agreement between its owner and Egyptian authorities.

The Egyptian Stock Exchange tumbled on Tuesday after Ethiopia announced the start of the second filling of the Grand Ethiopian Renaissance Dam (GERD)’s reservoir, according to Reuters.

Egypt has been listed by the International Trade Union Confederation as one of the world’s worst ten countries for workers in the world.

Despite the ongoing political differences between Egypt and Turkey, especially in Libya, as evidenced by the second Berlin conference on Libya held June 23, Cairo remains Ankara’s largest trading partner on the African continent.

In Egypt, a huge “New Administrative Capital” is being built, approximately 45km (28 miles) to the east of Cairo, on a swath of desert equal to the size of Singapore.

The owners and insurers of the Ever Given container ship that blocked the Suez Canal in March said on Sunday a formal settlement had been agreed in a compensation dispute, and the canal authority said the vessel would be allowed to sail on July 7.

The owners and insurers of the giant container ship that blocked the Suez Canal for nearly a week earlier this year have reached an agreement in principle over their dispute with canal authorities, representatives from both sides said Wednesday.

An offer from a Ukrainian firm to modernize and operate Egyptian Iron and Steel Company could reverse liquidation plans that have placed the jobs of 7,000 Egyptian workers at risk, the Public Enterprise Minister Hisham Tawfik said this week.

Egypt could lose as much as 72 percent of its farmland when the latest phase of the Grand Ethiopian Renaissance Dam is completed, according to a new study cited in the London-based Al Quds al-Arabi.