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FINANCIAL NEWS
Egypt reaches USD8.5bn funding goal for Suez Canal project
16 Sep 2014
(MENAFN) Egypt announced it has raised the USD8.5 billion needed to fund its project of expanding the Suez Canal which aims at expanding trade along what is the fastest shipping route between Europe and Asia, Gulf Business reported.
The Suez Canal project includes the development of 76,000 square kilometers around the canal into an international industrial and logistics hub to attract more ships and generate income.
The new development is expected to boost annual revenues from the Suez Canal, which is operated by the state-owned Suez Canal Authority, to USD13.5 billion by 2023 from the current USD5 billion.
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BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
16 Jun 2025
BBK and CrediMax Offer Exclusive 20% Discount on Turkish Airlines Flights for Cardholders
25 May 2025
BBK strengthens commitment to sports development through strategic partnership with Bahrain Basketball Association
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