Remittance flows by region: Where they rose and fell during COVID-19

Despite COVID-19, remittance flows remained resilient in 2020, registering a smaller decline than previously projected, according the World Bank. In a report released Wednesday (May 12, 2021), the bank stated that officially recorded remittance flows to low- and middle-income countries reached $540 billion in 2020, just 1.6% below the 2019 total of $548 billion, according […]

Egypt plans Suez Canal expansion after vessel was grounded

Cairo: Egypt on Tuesday announced plans to widen and deepen the southern part of the Suez Canal where a hulking vessel ran aground and closed off the crucial waterway in March. The head of the Suez Canal Authority, Lt. Gen. Osama Rabie, announced details of the plan in a televised ceremony in the canal’s city […]