Ships pass by fishermen in Fayed at Ismailiya near the Suez Canal. (REUTERS/Amr Abdallah Dalsh/Files)
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Egypt's New Suez Canal will open on Aug. 6, its overseer said on Saturday, a project President Abdel Fattah al-Sisi sees as a potent symbol of national pride and a major chance to stimulate an economy suffering double-digit unemployment.Mameesh said the new canal would reduce navigation time for ships to 11 hours from about 22 housing, making it the fastest such waterway in the world. The new and old canals are connected by four small channels.The existing canal earns Egypt around $5 billion per year, a vital source of hard currency.
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