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DUBAI: Egypt’s current account deficit narrowed to $13.2 billion in the nine months through March 2025, from $17.1 billion in the same period a year earlier, Egypt’s central bank said on Tuesday.

The bank attributed the slimmer deficit to an 86.6 percent increase in remittances from Egyptians working abroad, as well as a rise in the services surplus due to 23 percent higher tourism revenue.

Oil exports declined by $430.5 million to $4.2 billion, from $4.6 a year earlier, while oil imports increased by $4.8 billion to $14.5 billion, from $9.7 billion.

Egypt has been seeking to import more fuel oil and liquefied natural gas this year to meet its power demands after enduring blackouts during periods of shaky gas supply in the past two years.

Concerns intensified after the supply of natural gas from Israel to Egypt dropped during Israel’s air war with Iran.

Suez Canal revenues declined to $2.6 billion, from $5.8 billion in a year earlier, as revenue from the vital global trade route continued to suffer because of Yemeni Houthis’ attacks on ships in the Red Sea.

The Iran-aligned group says it attacks ships linked to Israel in support of Palestinians in Gaza.

Meanwhile, Egypt’s tourism revenue reached $12.5 billion from July 2024 through March 2025, compared to $10.9 billion in the same period a year earlier.

Remittances from Egyptians working abroad increased to $26.4 billion, from $14.5 billion.

Foreign direct investment hit $9.8 billion, compared to $23.7 billion.

RIYADH: ��������’s delivery sector processed more than 101 million orders in the second quarter of 2025, driven by surging e-commerce demand and ongoing investments in logistics infrastructure, official data showed. 

According to the latest report from the Transport General Authority, Riyadh accounted for 45.04 percent of the total delivery volume, followed by Makkah at 21.17 percent and the Eastern Province with 15.87 percent. 

��������’s delivery and rail sector expansion aligns closely with the National Transport and Logistics Strategy, which aims to position the Kingdom as a global logistics hub by 2030.  

Key NTLS goals include increasing the sector’s gross domestic product contribution to 10 percent, expanding rail networks to 8,080 km, boosting port throughput to 40 million Twenty-foot Equivalent Units annually, and enhancing air cargo capacity beyond 4.5 million tonnes.  

Other regions contributed smaller shares to the total delivery volume in the second quarter, including Al Madinah at 4.65 percent, Asir at 3.56 percent, and Al Qassim at 2.89 percent. 

Northern and less populated areas recorded modest volumes, with Al Baha at 0.21 percent, Northern Borders at 0.54 percent, Najran at 0.66 percent, and Al Jouf at 0.77 percent.  

This growth in delivery activity coincides with broader momentum in ��������’s transport and logistics infrastructure. In the first half of 2025, �������� Railways recorded over 7.9 million passengers across 21,205 passenger train trips, an 8 percent increase from the previous year.  

The rail network also supported the 1446 Hajj season, transporting over 4.3 million pilgrims via the Haramain High-Speed Railway and nearly 5.1 million pilgrims through the Mashaer Train network.  

On the freight side, SAR moved more than 14.9 million tonnes of cargo during the same period, marking a 13 percent year-on-year increase. 

These logistics gains were reinforced by ��������’s active participation in key industry events and strategic partnerships with local and international firms.  

SAR’s involvement in major exhibitions and forums, alongside collaborations with companies such as STC, Lucid, Turkish Airlines, and SDAIA, underscores the Kingdom’s push to elevate transport capabilities and digital integration.  

Additionally, SAR’s recognition through ISO certifications and national quality awards reflects the growing emphasis on service excellence and governance in the sector. 

Supported by regulatory reforms, digital transformation, and infrastructure investment, the National Transport and Logistics Strategy aims to leverage ��������’s strategic location to enhance multimodal connectivity and position the Kingdom among the world’s top ten in the Global Logistics Performance Index.