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Egypt's Suez Canal revenues hit $472.9 million in August Income from the international waterway continues to rise, up 5.3 per cent on the previous month
Revenues for Egypt's Suez Canal rose 7.9 per cent on last year to reach US$472.9 million in August, government figures showed on Saturday. Net income was also up 5.3 per cent month-on-month, against $449.2m in July 2011. The waterway is a vital source of foreign currency in Egypt, along with tourism, oil and gas exports and remittances from Egyptians living abroad. On Thursday an Italian ship laden with engineering equipment paid a record-breaking $2.28m for crossing the waterway.