Weekly Rundown of Top 10 Trending Headlines

Updated 2/14/2025 9:00:00 AM

Arab Finance: The Egyptian economy witnessed major events during the second week of February, topped by the Financial Regulatory Authority’s (FRA) new investment rules for insurance and reinsurance companies.

Here are the top 10 headlines dominating the news during the week ended February 13th:

1- FRA sets new investment rules for insurance, reinsurance companies

The Financial Regulatory Authority (FRA) has issued decision No. 2 of 2025, outlining new rules and controls for the investment ratios of insurance and reinsurance companies’ funds.

2- Egypt’s annual core inflation hits 22.6% in January: CBE

Egypt’s annual core consumer price index (CPI) inflation recorded 22.6% in January 2025, compared to 23.2% in December 2024, according to the Central Bank of Egypt (CBE) data.

3- Suez Canal traffic expected to return to normal by end-March: Rabie

Traffic through the Suez Canal is expected to gradually return to normal by late March, with a full recovery anticipated by mid-2025, provided the ceasefire in Gaza continues, Asharq Business reported, citing the Head of the Suez Canal Authority (SCA) Osama Rabie.

4- Egypt’s external debt hits $155.2B in Q1 FY2024/25

Egypt’s foreign debt edged up 1.5% quarter-on-quarter (QoQ) to $155.204 billion during the first quarter (Q1) of the current fiscal year (FY) 2024/2025, compared to $152.885 billion at the end of FY2023/2024.

5- IMF to discuss $1.2B tranche for Egypt in coming weeks

The International Monetary Fund (IMF) is expected to discuss a $1.2 billion tranche to Egypt in the coming weeks, following the completion of the Extended Fund Facility’s (EFF) fourth review, the IMF announced.

6- Egypt negotiates €200M from Europe to finance Red Sea power transmission line

Egypt is nearing the conclusion of negotiations with the European Union (EU) and the European Bank for Reconstruction and Development (EBRD) to secure up to €200 million in financing for a new power transmission line in the Gebel El Zeit area on the Red Sea coast.

7- Egypt estimates natural gas reserves in bp's King Mariout discovery at 4T cubic feet

Egypt estimates the initial reserves of bp’s newly announced natural gas discovery in the King Mariout concession in the northern Mediterranean Sea at 3 to 4 trillion cubic feet, unnamed government officials told Asharq Business.

8-Emaar Misr’s Sky Tower partners with Golden Coast for Red Sea tourism project

Sky Tower for Real Estate Development, in which Emaar Misr for Development holds a stake, has signed a strategic partnership agreement with Golden Coast Company.

9- SODIC to launch 550 hotel rooms across 5 new hotels

Sixth of October Development and Investment Company (SODIC) is planning to expand in the hotels sector over the coming period by launching 550 rooms in five new hotels, Ayman Amer, the company's General Manager told Asharq Business.

10- Fawry launches ‘Fawry Business’ to bolster digital transformation in Egypt

Fawry for Banking Technology and Electronic Payment has launched ‘Fawry Business’ to facilitate business operations and enhance efficiency.