Somali piracy threatens Egypt's economy - 19 Nov 08
- 12 years ago
Pirates prowling the waters off the coast of Africa have struck again four times since Monday.
The world's shipping firms are only able to respond by either paying up millions in ransom, or changing the way they do business.
Many shipping companies are now choosing to avoid the Suez canal, threatening to damage Egypt's economy.
The Suez is the country's third biggest income earner and last month alone it earned the country around $500m.
From Cairo, Amr El Kahky reports.
The world's shipping firms are only able to respond by either paying up millions in ransom, or changing the way they do business.
Many shipping companies are now choosing to avoid the Suez canal, threatening to damage Egypt's economy.
The Suez is the country's third biggest income earner and last month alone it earned the country around $500m.
From Cairo, Amr El Kahky reports.