Here We Go: Suez Canal Workers Go On Strike
by Tyler Durden
And here we go:
Suez Canal Company workers from the cities of Suez, Port Said, and Ismailia began an open-ended sit in today. Disruptions to shipping movements, as well as disasterous econmic losses, are expected if the strike continues. Over 6000 protesters have agreed that they will not go home today once their shift is over and will continue their in front of the company’s headquarters until their demands are met. They are protesting against poor wages and deteriorating health and working conditions.
And just to make sure that there is complete confusion, here’s Bloomberg with an earlier comment:
Egypt’s Suez Canal shipping traffic is operating normally, Mohamed Motair, director of companies at the Suez Canal Authority, said by telephone today.
Update from Reuters:
According to a senior canal official, Egypt’s Suez Canal operating normally, strikes by companies owned by Suez Authority are not involved in Canal operations
Keep an eye on oil, which jumped on the news: