Türkiye Denounces Opposition Calls for a Day of No Shopping 

Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)
Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)
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Türkiye Denounces Opposition Calls for a Day of No Shopping 

Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)
Shoppers walk through the spice bazaar in the Eminonu district of Istanbul on April 1, 2025. (AFP)

Türkiye’s government denounced opposition calls for a mass commercial boycott following the arrest of Istanbul Mayor Ekrem Imamoglu that sparked nationwide protests, describing them on Wednesday as an economic "sabotage attempt".

After the mayor was detained two weeks ago, the main opposition Republican People's Party (CHP) had called for a boycott of goods and services from companies with perceived ties to President Recep Tayyip Erdogan's government.

That call widened on Wednesday to include a halt to all shopping for one day, prompting some shops to close in solidarity with those criticizing the arrest as a politicized and anti-democratic attempt to hurt the opposition's electoral prospects.

Imamoglu is Erdogan's main political rival and the CHP's presidential candidate for any future election.

Trade Minister Omer Bolat said boycott calls posed a threat to economic stability and accused those advocating them of seeking to undermine the government.

They "are an attempt to sabotage the economy and include unfair trade and competition elements. We see this as a futile attempt by circles who consider themselves the masters of this country", Bolat said.

Vice President Cevdet Yilmaz said the calls threatened social harmony and economic stability, and were "doomed to fail".

Several cabinet ministers and pro-government celebrities, including former Germany and Real Madrid soccer midfielder Mesut Ozil, used the hashtag #BoykotDegilMilliZarar ("Not a Boycott, but National Damage") to emphasize their stance.

The calls have been led by CHP chairman Ozgur Ozel, who has encouraged the street protests that have swollen to the largest in Türkiye in more than a decade. Erdogan has called the protests "evil" and said they would not last.

Türkiye’s economy has been hit by a years-long cost of living crisis and series of currency crashes, with growth having slowed and inflation still lofty at 39% in February.

On Tuesday prosecutors launched an investigation into those advocating the boycott calls on social and traditional media.

The Istanbul chief prosecutor's office said it was probing calls that allegedly sought to prevent a segment of the public from engaging in economic activity, citing possible violations of laws against hate speech and inciting public hostility.



Egypt's Revenue from the Suez Canal Plunged Sharply in 2024

FILED - 17 November 2019, Egypt, Ismailia: A container ship sails through the Suez Canal. Photo: Gehad Hamdy/dpa
FILED - 17 November 2019, Egypt, Ismailia: A container ship sails through the Suez Canal. Photo: Gehad Hamdy/dpa
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Egypt's Revenue from the Suez Canal Plunged Sharply in 2024

FILED - 17 November 2019, Egypt, Ismailia: A container ship sails through the Suez Canal. Photo: Gehad Hamdy/dpa
FILED - 17 November 2019, Egypt, Ismailia: A container ship sails through the Suez Canal. Photo: Gehad Hamdy/dpa

Egypt's revenue from the Suez Canal plunged by almost two thirds last year, officials said Wednesday, attributing the sharp drop to regional tensions and wars in the Middle East that have impacted traffic through the key waterway.

The canal is a major source of foreign currency for the Egyptian government, with about 10% of world trade flowing through the waterway in recent years.

The Suez Canal Authority, which runs the waterway, said the canal generated an annual revenue of $3.991 billion in 2024, down from a historic high of $10.25 billion in 2023, according to a statement posted on its Facebook page, The Associated Press said.

Canal traffic has been significantly disrupted after Yemen’s Iran-backed Houthi group started to threaten maritime trade and targeting vessels heading to Israel through the Suez Canal to pressure Israel to stop the war in Gaza, which started on Oct. 7, 2023.

Between November 2023 and January 2024, the Houthis targeted over 100 merchant vessels with missiles and drones, sinking two ships and killing four sailors. The militant group insisted the attacks would continue as long as the wars go on and have devastated shipping through the region.

According to the Egyptian canal authority, only 13,213 ships passed through the canal in 2024, marking a 50% decline compared to the number of ships in 2023, when over 26,000 ships passed through.

Still, canal authority chief Osama Rabie said that the attacks challenge the region but have not prevented Egypt from continuing to provide its navigational and maritime services in the Suez.

The International Monetary Fund reported in March 2024 that the Suez Canal trade dropped by 50% in the first two months of that year, compared to the previous year, citing attacks on vessels in the Red Sea.

Egyptian President Abdel Fattah al-Sisi’s government in 2015 completed a significant expansion of the Suez Canal, adding a second shipping lane and allowing it to handle some of the world’s largest vessels.

The canal, which connects the Mediterranean and the Red seas, was opened in 1869. It serves as a vital artery for global trade — a crucial link for oil, natural gas and cargo. The canal authority operates a system of convoys, consisting of one northbound and one southbound per day.