Egypt's Revolt Hits UK Businesses Hard
Ongoing protests and strikes in Egypt have led to some of the country's ports being closed, hitting companies around the world that import Egyptian products.
In London, the British capital, companies selling cotton products rely heavily on suppliers in Alexandria, where factories are shut down.
The uprising against president Hosni Mubarak has also paralysed Egypt's stock market and banking system, as well as many shops and factories. Paul Brennan, Al Jazeera's correspondent in London, said the Egyptian tourist industry has also been badly affected.
"You've got embassies from all around the globe urging their staff to evacuate any citizens who may be on holiday in Egypt, despite the fact that many of the holiday spots are a long way from the trouble in Egypt. "Some 12 per cent of the Egyptian labour force works in the tourism industry, which accounts for around $11.6bn annually. "We also have the Suez Canal, which is operating as normal at the moment but some companies have expressed concern about the impact on it."
Source: Al Jazeera
http://english.aljazeera.net/video/europe/...
In London, the British capital, companies selling cotton products rely heavily on suppliers in Alexandria, where factories are shut down.
The uprising against president Hosni Mubarak has also paralysed Egypt's stock market and banking system, as well as many shops and factories. Paul Brennan, Al Jazeera's correspondent in London, said the Egyptian tourist industry has also been badly affected.
"You've got embassies from all around the globe urging their staff to evacuate any citizens who may be on holiday in Egypt, despite the fact that many of the holiday spots are a long way from the trouble in Egypt. "Some 12 per cent of the Egyptian labour force works in the tourism industry, which accounts for around $11.6bn annually. "We also have the Suez Canal, which is operating as normal at the moment but some companies have expressed concern about the impact on it."
Source: Al Jazeera
http://english.aljazeera.net/video/europe/...
