The web cable cut across the coast of Egypt has disrupted the internet connection in the middle east and Asian countries since December 19th Friday morning causing a major problem in global economy.communication has been disrupted especially in between Europe to middle east and Asian countries.as the cables to the coast of Egypt act as a major link for internet and phone traffic in between those countries.
It is said the cable was damaged occurred possibly due to underwater earthquake in Taiwan.3 cables were damaged two belongs to the consortium of network companies and the third one is run by RELIANCE GLOBAL COM.
In the global economy where communication and whole business activities are done online through t the world are totally dependent on internet connection is experiencing a major loss.almost all the communication has been cut off or it is very slow which is effecting a lot to many business firms.
Almost all of the finance companies relies upon internet for speedy trading and also for communication through cable has been affected. According to James Blessing A spokesman for (ISP) Internet Service Provider's Association access to all sites will be slow where as some of the companies might lose their data also.The countries which are effected more by this cable cut are India,Bangladesh.mainly the ITE'S and the outsourcing companies.
Information from various sources says that it might took days to recover.But Egypt Minister of communication and information technology said that 80% of the internet service will be up within 48 hours.