Top 10 news stories to not miss out on this weekend
Updated 1/10/2025 9:00:00 AMArab Finance: The five-day period ended January 9th, 2025, saw some major news, topped by annual headline inflation hitting 23.4% in December 2024 and net international reserves (NIR) reaching $47.109 billion in the same month.
Below is a bundle of the top 10 news stories that happened in the Egyptian market from January 1st to 9th:
1-Egypt’s annual headline inflation records 23.4% in December: CAPMAS
Egypt's annual headline inflation hit 23.4% in December, compared to 25% in November.
2-Egypt’s NIR rises to $47.109B end-December: CBE
Egypt's net international reserves (NIR) reached $47.109 billion at the end of December.
3-Egyptian exports hit record $40B in 2024: El-Khatib
The Egyptian exports reached $40 billion in 2024 for the first time.
4-Rising cost pressures weigh on Egypt’s non-oil private sector in December: PMI
Egypt's non-oil private business activity retreated in December 2024 due to rising price pressures.
5-Total funding from FRA-supervised entities hit EGP 718B in 10 months
Egypt's non-oil private business activity retreated in December 2024 due to rising price pressures.
6-Egypt welcomes 15.7M tourists in 2024
Egypt has achieved a record number in tourist arrivals in 2024, receiving 15.7 million tourists, despite the region’s geopolitical conditions.
7-Egypt to resume Zohr field development in January: Badawi
Development work at the Zohr natural gas field is set to resume during January.
8-Sidpec plans for hydrogen power plant, new sodium cyanide project
Sidi Kerir Petrochemicals Company (Sidpec) intends to establish a hydrogen-powered plant with a capacity of 14 megawatts in 2025.
9-Orascom Construction Consortium kicks off commercial operations for Egypt’s 650 MW wind farm
Orascom Construction PLC has announced the commencement of commercial operations for 306 MW at the expanded 650 MW 25-year build-own-operate (BOO) wind farm in Ras Ghareb
10-Shalateen plans to explore gold production in Egypt
Shalateen Mineral Resource Company plans to become a producer of gold and precious metals, instead of a gold buyer from individuals and selling it to the Central Bank of Egypt (CBE).
