River Navigation Resumes Between Egypt, Sudan

A boat transports people along the river Nile in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany
A boat transports people along the river Nile in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany
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River Navigation Resumes Between Egypt, Sudan

A boat transports people along the river Nile in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany
A boat transports people along the river Nile in Cairo, Egypt July 2, 2019. REUTERS/Mohamed Abd El Ghany

Sudan’s Wadi Halfa River Port, which borders Egypt, started receiving Egyptian imports on Wednesday through units and river barges transported between the Port and Aswan High Dam.

This comes after a four-month suspension due to the precautionary measures taken by the Sudanese government which closed the crossings and borders to limit the spread of the new coronavirus.

The port received a number of Egyptian imports through the vessels and units that belong to the Egyptian-Sudanese Nile Valley Authority for River Navigation.

The Sudanese government announced in mid-June the resumption of trade exchange with Egypt through Ashkeet border crossing, after nearly a three-month standstill.

Head of the Authority’s office in Wadi Halfa Mahmoud Abd El Motaal said about 2,000 tons of cement have arrived during the past two weeks from the High Dam to Halfa, expecting further 1,500 tons of urea fertilizer to arrive soon through Wadi Halfa port.

The Nile Valley Authority for River Navigation is an Egyptian-Sudanese organization that transports passengers as well as goods. It was established in 1975 as the only international transporter in Nasser Lake.

The volume of trade exchange between Sudan and Egypt is estimated at 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 reach $1.5 billion.



Gold at Near 2-week Low after Trump Announces Israel-Iran Ceasefire

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
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Gold at Near 2-week Low after Trump Announces Israel-Iran Ceasefire

A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT
A goldsmith displays gold ornaments during a gold trade at Hua Seng Heng gold shop in Bangkok, Thailand, 23 June 2025. EPA/RUNGROJ YONGRIT

Gold prices fell to a near two-week low on Tuesday as risk appetite improved after US President Donald Trump said Iran and Israel had agreed to a ceasefire, denting demand for safe-haven assets.

Spot gold was down 0.9% at $3,338.39 an ounce, as of 0526 GMT, after hitting its lowest level since June 11 earlier in the session, Reuters reported.

US gold futures slipped 1.2% to $3,352.60.

"It seems like there's a good bit of geopolitical risk that's exiting the market here near term after, of course, we have signs of de-escalation between the US and Iran," said Ilya Spivak, head of global macro at Tastylive.

Trump announced a complete ceasefire between Israel and Iran, potentially ending the 12-day conflict that saw millions flee Tehran and prompted fears of further escalation in the region.

There was no immediate comment from Israel. While an Iranian official earlier confirmed that Tehran had agreed to a ceasefire, the country's foreign minister said there would be no cessation of hostilities unless Israel stopped its attacks.

Global shares rallied, while oil prices slipped to a one-week low after Trump announced the Iran-Israel ceasefire.

Meanwhile, US Federal Reserve Vice Chair for Supervision Michelle Bowman said on Monday that the time to cut interest rates is approaching amid potential risks to the job market.

Investors await testimony by Fed Chair Jerome Powell before the House Financial Services Committee later on Tuesday. Powell has been cautious about signaling near-term easing.

"The bias for gold prices is higher, but we might see a correction in the near-term and an uptick in the dollar if Powell convinces markets that they're not going to cut more than twice this year," Spivak said.

Gold tends to thrive in a low-interest-rate environment.

Elsewhere, spot silver eased 0.1% to $36.08 per ounce, platinum fell 0.3% to $1,290.67, while palladium slipped 1.3% to $1,062.94.