Egypt’s President Abdel Fattah Al Sisi signs a document at an event marking the announcement of plans for a major upgrade of the Suez Canal, in Cairo August 5, 2014. Reuters CAIRO—One of the world’s great trading routes, the Suez Canal, is set for the first major expansion in its 145-year history, if a planned multibillion-dollar investment by the Egyptian government goes ahead. Egypt’s President Abdel Fattah Al Sisi this week announced plans for a ‘new’ Suez Canal that will run in parallel to the current waterway, which provides a vital shipping link between Europe and Asia. The Egyptian plan, part of an $8.4 billion project to upgrade the Suez Canal, could raise its capacity to 97 passing ships a day by 2023, up from 49 currently. But while shipping industry executives have welcomed the idea of expanding the Suez Canal to help relieve bottlenecks, there are doubts over […]