Trade Resumes between Sudan, Egypt

Sudan exports livestock and slaughtered meat, as it owns the most fertile lands in the region. AFP
Sudan exports livestock and slaughtered meat, as it owns the most fertile lands in the region. AFP
TT

Trade Resumes between Sudan, Egypt

Sudan exports livestock and slaughtered meat, as it owns the most fertile lands in the region. AFP
Sudan exports livestock and slaughtered meat, as it owns the most fertile lands in the region. AFP

The Sudanese government has announced the resumption of trade with Egypt after nearly a three-month standstill.

Sudan closed its border crossings in March as a precautionary measure against the coronavirus outbreak, effecting exports to Egypt.

According to official reports, Egypt imports some 30 percent of its needs for meat from Sudan. It mainly imports from Sudan livestock, meat, grains, and cotton.

Sudanese authorities announced on Thursday that health measures to import Egyptian goods have been taken.

This announcement was made at the Ashkeet border crossing in the presence of all relevant authorities.

Egypt’s imports of meat and livestock are expected to increase by 36 percent, amounting to 340,000 head of cattle in 2020, and its imports by 60-70 percent of its needs of meat.

Director of Ashkeet crossing Brigadier General Osama Anwar Daoud said he informed Egypt about the approval of Sudan’s Ministry of Infrastructure and Transport to resume the movement of Egyptian goods through the border crossing.

He said he made it clear to Egypt that 20 cargo trucks will be allowed to cross on daily basis as of next Thursday.

The volume of trade exchange between Sudan and Egypt is about one billion dollars annually, and Egyptian investments in Sudan are estimated at $10.1 billion.

The two African countries have been planning to construct roads and railways to facilitate trade and transport through joint border crossings, in line with their attempts to double the volume of trade between them to $1.5 billion.

Director of Wadi Halfa Customs Administration Brigadier General Sir al-Khatim Ahmed Osman affirmed the administration’s willingness to open the Ashkeet crossing for Egyptian goods.

He pointed out only food and consumer items are allowed to enter, while personal belongings and furniture are banned.

According to the precautionary technical requirements, goods shall be unloaded in the neutral zone or the Sudanese driver shall be replaced by an Egyptian driver, Osman noted.

He said health authorities shall also inspect and disinfect vehicles and goods in the neutral zone before entering Ashkeet.



Iraq Raises September Basrah Medium Crude OSP to Asia

Workers walk across pipelines at the Rumaila oil field in Basra, Iraq (Reuters)
Workers walk across pipelines at the Rumaila oil field in Basra, Iraq (Reuters)
TT

Iraq Raises September Basrah Medium Crude OSP to Asia

Workers walk across pipelines at the Rumaila oil field in Basra, Iraq (Reuters)
Workers walk across pipelines at the Rumaila oil field in Basra, Iraq (Reuters)

Iraq has raised the September official selling price (OSP) for Basra Medium crude oil to Asia to minus $4 a barrel against the average of Oman/Dubai quotes from the August OSP of minus $6.50 a barrel, state-owned Iraqi oil marketer SOMO said on Monday, Reuters reported.

Basrah Heavy to Asia was priced at minus $7.30 a barrel to Oman/Dubai quotes, from minus $8.80 a barrel set for August.

Type of North and South European Far East Crude American Market Market Market ($/bbl) Oil ($/bbl) ($/bbl) Basrah ASCI +5.10 Brent Average (Oman Medium (dated)-4.35 & Dubai)-4.00 Basrah ASCI +1.40 Brent Average


Turkish Central Bank Bought $5 billion in Foreign Exchange Last Week, Bankers Say

Central Bank of Türkiye - File Photo/Reuters
Central Bank of Türkiye - File Photo/Reuters
TT

Turkish Central Bank Bought $5 billion in Foreign Exchange Last Week, Bankers Say

Central Bank of Türkiye - File Photo/Reuters
Central Bank of Türkiye - File Photo/Reuters

The Turkish central bank bought $5 billion in foreign exchange last week, with its net reserves increasing $9 billion to $63 billion, bankers said on Monday, Reuters reported.

According to the calculations of four bankers, the central bank's total reserves increased $14 billion last week to $178 billion, while net reserves excluding swaps increased $9.5 billion to $50 billion. The central bank did not comment on the figures.

 

 

 


July US Container Imports Hit Fourth-highest on Record, Descartes Says

FILE PHOTO: Workers move shipping containers at the Port Authority of New York and New Jersey in, Newark, New Jersey, US, September 30, 2024. REUTERS/Caitlin Ochs/File Photo
FILE PHOTO: Workers move shipping containers at the Port Authority of New York and New Jersey in, Newark, New Jersey, US, September 30, 2024. REUTERS/Caitlin Ochs/File Photo
TT

July US Container Imports Hit Fourth-highest on Record, Descartes Says

FILE PHOTO: Workers move shipping containers at the Port Authority of New York and New Jersey in, Newark, New Jersey, US, September 30, 2024. REUTERS/Caitlin Ochs/File Photo
FILE PHOTO: Workers move shipping containers at the Port Authority of New York and New Jersey in, Newark, New Jersey, US, September 30, 2024. REUTERS/Caitlin Ochs/File Photo

US imports of containerized goods in July hit the fourth-highest level for the month, as shippers rushed in goods ahead of unknown US tariff changes, supply chain technology provider Descartes Systems Group said on Monday.

US seaports handled 2.5 million 20-foot equivalent units (TEUs) in July, down 4.3% from the near-record result in July 2025. Through the first seven months of 2026, imports were down 0.9% year over year while remaining ⁠well above pre-COVID pandemic ⁠levels, Descartes said.

In late July, 10% global Section 122 tariffs expired and were replaced by new tariffs of up to 12.5% on imports from 60 countries tied to allegations of forced labor.

Chinese-origin imports rose to 873,129 TEUs ⁠in July, the highest monthly volume in a year.

China sends more goods via container to the US than any other country, even after President Donald Trump has targeted such products with tariffs.

Retailers like Walmart, Amazon.com and Home Depot account for roughly half of all US container imports, Reuters reported.

The traditional peak shipping season tied to their imports of goods for autumn and winter holiday promotions ⁠has ⁠been arriving earlier and over a longer period of time as shippers have responded to a string of supply-chain upheavals ranging from the COVID-19 pandemic and the ongoing US and Israeli war on Iran to rapidly changing US tariff policies.

"The broader trade environment remains unsettled. Elevated Strait of Hormuz risk, changing US tariff measures, tighter Panama Canal draft restrictions, and continued Red Sea disruption are influencing freight costs, routing decisions, and sourcing strategies," Descartes said.