Work is under way to expand the two-way section of the Suez Canal by 10 kilometres, but widening the whole waterway is too expensive to be viable, the chairman of the authority managing the Egyptian waterway said on Tuesday.
Fourteen per cent of the dredging work has been completed to add a second lane to portions of Egypt’s vital waterway, which became blocked by the Ever Given container ship last year, holding up maritime shipping for six days.
Speaking at a press conference on Tuesday, Suez Canal Authority (SCA) Chairman Admiral Osama Rabie said it would be too expensive to add a second lane to all 193km of the canal, which connects the Mediterranean Sea and the Red Sea.
Currently, the majority of the canal's length comprises a single traffic lane, with two bypasses that allow two ships to move in opposite directions.
Mr Rabie said that 11 million cubic metres of sediment had been removed from the canal since expansion efforts started last year.
This year, the SCA will be intensifying its efforts to ensure traffic is not impeded should a blockage occur.
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The Isthmus of Suez with the plan of the Canal of two Seas and of the diverted auxiliary canal of the Nile. From the pilot study of Misters Linant Bey and Mougel Bey, engineers of viceroy of Egypt, 1855. In 1809 topographical data on the Suez Canal was published by French academics in Description de l'Égypte. Contained one of the first maps of the Suez Canal, and formed the basis for an early French plan to construct a canal, later abandoned. Fieldwork was conducted during Napoleon's 1798 – 1801 military campaign in Egypt. Napoleon's surveyers incorrectly believed that the Red Sea was 9 metres higher than the Mediterranean sea, making construction impossible. Roger Viollet Collection / Getty Images -

The inaugural ceremony of the Suez Canal in 1869. Frederic-Auguste Bartholdi pitched the Suez Canal Company on a large copper statue, modelled after the Colossus of Rhodes, of an 80 foot woman wearing Egyptian peasant robes and bearing a torch which would double as a lighthouse. The Suez Canal Company wasn't interested – but the French government and New York state were. Bartholdi's project became the Statue of Liberty. Getty Images -

English statesman and novelist, Benjamin Disraeli, (1804 - 1881) created Earl of Beaconsfield in 1876. In 1876, Ismail Pasha, Khedive of Egypt, declared bankruptcy, and put his controlling stake in the Suez Canal Company up for sale. Disareli, the British prime minister, bought the Khedive's stake. The canal became a major trade route and strategic waterway for Britain, and helped to facilitate the British Empire's conquest and rule over its colonies in India and East Asia. Jabez Hughes / Getty Images -

A picture dated 1869 shows machinery during the construction of the Suez Canal in Egypt. AFP -

An aerial view of the Suez Canal zone near Ismailia, Egypt taken in May 1953. Jim Pringle / AP Photo -

The Egyptian president Gamal Abdel Nasser announcing the nationalisation of the Suez Canal to a crowd of 250,000 people during a celebration of the fourth anniversary of the July 26, 1956 revolution. He also announced that the property of the Universal Suez Canal Company would be sequestrated. Britain, France and Israel launched a combined assault on the Suez Canal and Sinai in a bid to return the waterway to Western control and force Nasser to resign. The invasion was successful, but US pressure leads the three countries to withdraw. Keystone-France / Gamma-Keystone via Getty Images -

An aerial view of the southern entrance of Egypt's Suez Canal taken in 2007. Jack Guez / AFP -

In August 2014, the Government of Abdel Fattah El-Sisi ordered the beginning of construction of the New Suez Canal – which adds a parallel route to part of the canal's length, and widens and deepens some of the existing canal. The $8 billion project, funded by bonds issued to Egyptian citizens, was to be completed in a year, and would see traffic through the canal increase to 97 ships per day by 2023 – up from 49 ships per day currently. Amr Abdallah Dalsh / Reuters -

The first container ship to use the New Suez Canal. The opening of the New Suez Canal, after exactly 12 months of construction work "was an epic," said Admiral Mohab Mamish, chairman of the Suez Canal Authority, in reports. "It was a very hard job. We invited experts of dredging and we had no time to waste and we feel that we have succeeded.” Courtesy NMDC -

A dredger at work on the New Suez Canal. Courtesy NMDC -

A dredger at work on the New Suez Canal. Courtesy NMDC -

Work on the New Suez Canal continues. Courtesy NMDC -

Yasser Zaghloul, CEO of NMDC. The company worked alongside Belgium’s Jan De Nul and Dutch companies Boskalis and Van Oord on the dredging works. Courtesy NMDC -

Bulldozers and trucks work on a new section of the New Suez Canal in Ismailia, Egypt. Hassan Ammar / AP Photo -

A dredger works on a section of the New Suez Canal during a media tour in Ismailia, Egypt. Hassan Ammar / AP Photo
Despite the Ever Given container ship running aground, the canal posted a record $6.3 billion in profit last year, an increase of nearly 13 per cent from 2020.
Mr Rabie said on Tuesday that several new dredging ships would be joining the ongoing expansion of the canal. He explained that this was being done to ensure that the plan sticks to its intended completion date of July 2023.
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Price, base: Dh69,900
Engine: 2.0-litre turbocharged four-cylinder
Transmission: Seven-speed automatic
Power: 197hp @ 5,500rpm
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Fuel economy, combined: 7.0L / 100km
Emergency
Director: Kangana Ranaut
Stars: Kangana Ranaut, Anupam Kher, Shreyas Talpade, Milind Soman, Mahima Chaudhry
Rating: 2/5
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Gulf Under 19s final
Dubai College A 50-12 Dubai College B
How much do leading UAE’s UK curriculum schools charge for Year 6?
- Nord Anglia International School (Dubai) – Dh85,032
- Kings School Al Barsha (Dubai) – Dh71,905
- Brighton College Abu Dhabi - Dh68,560
- Jumeirah English Speaking School (Dubai) – Dh59,728
- Gems Wellington International School – Dubai Branch – Dh58,488
- The British School Al Khubairat (Abu Dhabi) - Dh54,170
- Dubai English Speaking School – Dh51,269
*Annual tuition fees covering the 2024/2025 academic year
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WOMAN AND CHILD
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Friday
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Al Jazria v Al Wasl, Mohammed Bin Zayed Stadium (8pm)
Saturday
Emirates v Al Ain, Emirates Club Stadium (5pm)
Sharjah v Shabab Al Ahli Dubai, Sharjah Stadium (8pm)
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Sunday, February 3, 2019 - Rome to Abu Dhabi
1pm: departure by plane from Rome / Fiumicino to Abu Dhabi
10pm: arrival at Abu Dhabi Presidential Airport
Monday, February 4
12pm: welcome ceremony at the main entrance of the Presidential Palace
12.20pm: visit Abu Dhabi Crown Prince at Presidential Palace
5pm: private meeting with Muslim Council of Elders at Sheikh Zayed Grand Mosque
6.10pm: Inter-religious in the Founder's Memorial
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9.15am: private visit to undisclosed cathedral
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1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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- Muslim Brotherhood at all levels has repeatedly defended Hamas attacks against Israel, including the use of suicide bombers and the killing of civilians.
- Laying out the report in the House of Commons, David Cameron told MPs: "The main findings of the review support the conclusion that membership of, association with, or influence by the Muslim Brotherhood should be considered as a possible indicator of extremism."
GAC GS8 Specs
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Torque: 400Nm at 1,750-4,000rpm
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OPTA'S PREDICTED TABLE
1. Liverpool 101 points
2. Manchester City 80
3. Leicester 67
4. Chelsea 63
5. Manchester United 61
6. Tottenham 58
7. Wolves 56
8. Arsenal 56
9. Sheffield United 55
10. Everton 50
11. Burnley 49
12. Crystal Palace 49
13. Newcastle 46
14. Southampton 44
15. West Ham 39
16. Brighton 37
17. Watford 36
18. Bournemouth 36
19. Aston Villa 32
20. Norwich City 29

