Balanced News: Suez Canal chief seeks to dispel fears over draft Egypt law

The head of the Suez Canal Authority (SCA) Osama Rabie assured Thursday that the strategic maritime passage was “not for sale” following concerns raised in Egypt by a draft law under discussion in parliament. The Suez Canal, which sees the passage of about 10% of world maritime trade and represents one of the first sources of currency for Cairo, represents a true national symbol. Claims were denied by the president of the SCA, indicating that the objective was to attract foreign investment.