the President of Egypt opens an expansion of the Suez Canal

The project, which cost $8 billion, adds 35 km of new channels on to the existing canal, which opened in 1869, and a further 35 km where existing bodies of water were dredged to make way for larger ships. The Suez Canal Authority claims the expansion will lower waiting times for ships and therefore more than double annual revenue to $13.2 billion by 2023. That increase would reportedly require an approximately 9% annual rise in global trade volume, a boost experts say is unlikely.

More plus video in this UK Guardian article.