News in brief

Suez Canal revenues will rise, says officialTaiwan’s TMT, one of Asia’s biggest shippers, on Tuesday joined a growing list of firms openly diverting some of their large fleets via the Cape of Good Hope because of fears over piracy in the Gulf of Aden. The increased piracy is expected to hit Egypt’s Suez Canal revenues, one of the top four major foreign currency earners for Egypt. However, officials said on Tuesday that revenue from the Suez Canal should rise at least 17 percent in 2008 compared...