Egypt's Suez Canal to raise transit fees in 2023

**This is a 60-seconds sample of the video. For the full version, please contact us.**

Egypt's Suez Canal to raise transit fees in 2023

STORY: Egypt's Suez Canal to raise transit fees in 2023 DATELINE: Sept. 18, 2022 LENGTH: 00:01:08 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. Suez Canal Authority (SCA) Chairperson Ossama Rabiee speaking 2. various of vessels crossing the Suez Canal STORYLINE: The Suez Canal's transit tolls will increase by 15 percent for all types of vessels and 10 percent for dry bulk and cruise ships starting next year, the Suez Canal Authority (SCA) announced in a statement on Saturday. The authority said rising energy prices, freight rates, and daily charter rates for ships, predicted to continue next year, are the main reason for raising transit tolls along the vital canal connecting the Mediterranean Sea to the Red Sea. "The (tolls) increase is inevitable and is a necessity in light of the current global inflation, which translates into increased operational costs and the costs of the navigational services provided in the canal," SCA Chairman Ossama Rabiee said in the statement. He said the SCA adjusted the to

  • Product Code
  • ILEA001017989
  • Registered date
  • 2022/9/18 00:00:00
  • Credit
  • Xinhua / Kyodo News Images
  • Media source
  • Xinhua News Agency.All Rights Reserved
  • Media size
  • 1920 × 1080 pixel
  • Deployment size
  • 69.43(MB)*
  • Special instruction

*File size when opened in Photoshop, etc.

Similar Images & Videos

    Tokyo consumer inflation accelerates in May

    STORY: Tokyo consumer inflation accelerates in May SHOOTING TIME: recent footage DATELINE: June 3, 2024 LENGTH: 00:00:39 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo STORYLINE: Core inflation in Tokyo continued to rise in May as utility costs expanded, government data showed. The Tokyo core consumer price index, which excludes volatile fresh food but includes fuel costs, rose 1.9 percent in May from a year earlier, accelerating from a 1.6 percent rise in April, according to the internal affairs ministry. Seen as a leading indicator of nationwide trends in Japan, the Tokyo data released on Friday stood below the Bank of Japan's 2-percent target. The acceleration was largely pushed up by utility costs related to renewable energy promotion, as electricity bills increased for the first time in 16 months by rising 13.1 percent year on year. Meanwhile, prices of food excluding fresh items rose 3.2 percent, unchanged from the previous month. Xinhua News Agency correspondent

      Industrial production costs fall in Italy for 6th consecutive month

      STORY: Industrial production costs fall in Italy for 6th consecutive month SHOOTING DATE: May 30, 2024 DATELINE: May 31, 2024 LENGTH: 00:00:49 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of streets in Rome STORYLINE: Industrial producer prices in Italy fell for the sixth consecutive month, the country's statistics entity reported Thursday, due largely to continued decreases in energy costs. The Italian National Institute of Statistics (ISTAT) said that prices for industrial producers fell by 0.9 percent in April compared to the previous month. Costs were 5.9 percent below their levels from a year earlier. The trend represents a marked turn-around from 2022 and early 2023, when the key index rose nearly every month and when year-on-year increases regularly topped 30 percent due to the spike in energy prices. Overall inflation in Italy has fallen dramatically since October 2023. This decline has been broadly in line with the drop in producer prices. Still, the rate of decrease in producer

        Italy's economy performs well but slowdown expected: IMF

        STORY: Italy's economy performs well but slowdown expected: IMF SHOOTING TIME: May 21, 2024 DATELINE: May 22, 2024 LENGTH: 00:00:49 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of stores in Rome STORYLINE: The International Monetary Fund (IMF) on Monday said that while Italy had good recoveries from economic shocks in recent years, the economy's prospects were only "moderate" going forward. In its annual Staff Concluding Statement, the IMF said that Italy recovered from the back-to-back shocks of the coronavirus pandemic and the spike in energy prices sparked by the Ukraine crisis and that as of the end of the first quarter of this year, its economy was 4.5 percent larger than before the pandemic -- "a stronger performance than in other large euro-area countries," the IMF said in a statement. That growth, the fund said, was fueled by a recovery in tourism, tax credits, and projects funded by European Union (EU) pandemic recovery loans and grants. But the IMF said Italy was unlikely to

          Egypt's Suez Canal rescue teams prevent sinking of cargo ship

          STORY: Egypt's Suez Canal rescue teams prevent sinking of cargo ship SHOOTING TIME: April 23, 2024 DATELINE: April 24, 2024 LENGTH: 00:01:27 LOCATION: Cairo CATEGORY: OTHERS SHOTLIST: 1. various of the Suez Canal rescue teams preventing a cargo ship from sinking (courtesy of SCA) 2. various of photos of the Suez Canal rescue teams preventing a cargo ship from sinking (courtesy of SCA) 3. various of ships passing through the Suez Canal STORYLINE: The Suez Canal rescue teams prevented a cargo ship from sinking before passing through the waterway, the Suez Canal Authority (SCA) said on Tuesday. Twelve crew members on the rescued Tanzanian-flagged LABATROS cargo ship were safe, the SCA said in a statement. An inspection of the vessel's technical conditions is underway to find out what caused the sinking and to contain any possible marine pollution, the statement added. The 3,000-tonne ship was coming from Lebanon and heading to Al-Adabiya Port on the western coast of the Suez Gulf. The Suez Can

            Chinese ductile iron pipes firm to establish new factory in Egypt

            STORY: Chinese ductile iron pipes firm to establish new factory in Egypt SHOOTING TIME: March 27, 2024 DATELINE: March 30, 2024 LENGTH: 00:00:32 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of signing ceremony (Courtesy of the Egyptian Cabinet) STORYLINE: China's Xinxing Ductile Iron Pipes Co., Ltd. has signed a land lease contract with Egypt-TEDA SEZone Development Company to build a new factory in the China-Egypt TEDA Suez Economic and Trade Cooperation Zone. The signing ceremony held on Wednesday was attended by Egyptian Prime Minister Mostafa Madbouly, Suez Canal Economic Zone Chairman Waleid Gamaleldien, and other senior Egyptian officials. The project is planned to cover an area of about 270,000 square meters and produce 250,000 tons of ductile iron pipes per year, said Ma Ye, head of the Egypt project of Xinxing Ductile Iron Pipes Co., Ltd. With an investment of approximately 145 million U.S. dollars, the project is expected to generate nearly 200 million dollars in foreign exc

              Egypt raises fuel prices amid economic reform, transportation cost surge

              STORY: Egypt raises fuel prices amid economic reform, transportation cost surge SHOOTING TIME: Archive DATELINE: March 23, 2024 LENGTH: 00:01:05 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Egyptian Ministry of Petroleum 2. various of fuel stations in Cairo STORYLINE: Egypt announced on Friday it would raise the prices of fuel due to the impact of exchange rate liberalization on the economy and rising transportation costs of petroleum products. The Ministry of Petroleum and Mineral Resources said in a statement that gasoline prices would rise by one Egyptian pound (about 2 U.S. cents) per liter, bringing the price of 80-octane gasoline to 11 pounds, 92-octane gasoline to 12.5 pounds, and 95-octane gasoline to 13.5 pounds. The ministry attributed the price hike to exchange rate liberalization and the rising transportation costs of petroleum products, exacerbated by tensions in the Red Sea. Additionally, diesel prices rose to 10 pounds per liter from 8.25 pounds, and the price of the 12.5

                Chongqing sees increase in export via China-Europe freight train service

                STORY: Chongqing sees increase in export via China-Europe freight train service SHOOTING TIME: March 18, 2024 DATELINE: March 19, 2024 LENGTH: 00:01:09 LOCATION: CHONGQING, China CATEGORY: ECONOMY SHOTLIST: 1. various of China-Europe freight train service 2. SOUNDBITE 1 (Chinese): XU RUNQIU, Marketing manager, Yuxinou (Chongqing) Logistics Co., Ltd. 3. various of containers 4. SOUNDBITE 2 (Chinese): LUO YONG, Chairman of a local new energy company STORYLINE: Thanks to the growth in freight train numbers and the launch of new routes, Chongqing Municipality in southwest China has seen increase in its export via China-Europe freight train service this year. SOUNDBITE 1 (Chinese): XU RUNQIU, Marketing manager, Yuxinou (Chongqing) Logistics Co., Ltd. "We have taken a number of measures together to cater for the export need of local and neighboring companies, and significantly increased the number of Europe-bound trains. In January this year, the volume of Europe-bound cargo increased by about 200 percent compa

                  Italy's inflation remains at 0.8 pct in February

                  STORY: Italy's inflation remains at 0.8 pct in February SHOOTING TIME: March 15, 2024 DATELINE: March 16, 2024 LENGTH: 00:00:58 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of National Statistics Institute (ISTAT) in Italy 2. various of streets in Rome STORYLINE: Italy's inflation rate remained stable at 0.8 percent in February, the same level as in January, the national statistics agency said on Friday. Data released by the National Statistics Institute (ISTAT) showed Italy's consumer price index rose by 0.1 percent in month-on-month terms in February. The index increased by 0.3 percent in January compared to December 2023. ISTAT attributed the low inflation rate to a slowdown in price increases for processed and unprocessed food, transportation services and recreational activities. Regulated and unregulated energy products saw prices drop compared to a year earlier, though by a smaller margin than in January. The Italian government introduced a series of anti-inflation measures betwe

                    Egypt's central bank raises interest rates by 600 bps

                    STORY: Egypt's central bank raises interest rates by 600 bps SHOOTING TIME: earlier footage DATELINE: March 7, 2024 LENGTH: 00:00:57 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Egypt 2. various of an accountant counting banknotes 3. various of the National Bank of Egypt 4. various of Banque Misr STORYLINE: The Central Bank of Egypt (CBE) raised its interest rates by 600 basis points (bps) on Wednesday and said it would allow the exchange rate to be determined by the market in a bid to ensure a smooth transition to a flexible inflation targeting regime. In a statement, the central bank raised the overnight lending rate to 28.25 percent, its overnight deposit rate to 27.25 percent, and the rate of the main operation to 27.75 percent. The CBE decided to accelerate the monetary tightening process in order to fast-track the disinflation path and ensure a decline in underlying inflation. Egypt's annual inflation figures, despite recent declines, are expected to remai

                      Egypt signs renewable energy agreements worth 40 bln USD

                      STORY: Egypt signs renewable energy agreements worth 40 bln USD SHOOTING TIME: Feb. 28, 2024 DATELINE: Feb. 29, 2024 LENGTH: 00:01:28 LOCATION: Cairo CATEGORY: ECONOMY SHOTLIST: 1. various of the signing ceremony (courtesy of the Egyptian cabinet) STORYLINE: Egypt signed on Wednesday seven cooperation agreements with international developers in the fields of green hydrogen and renewable energy in the Suez Canal Economic Zone. The total investments for these projects are expected to exceed 40 billion U.S. dollars over a span of 10 years, the Egyptian cabinet said in a statement. Egyptian Minister of Planning and Economic Development Hala Al-Saeed said that the pilot phase of the agreements involves investments of approximately 12 billion dollars, followed by an additional 29 billion dollars for the first phase. The Egyptian government has been working to transform the country into a regional center for the production and export of green energy. Xinhua News Agency correspondents reporting from Cairo. (XH