Top 10 Must-Read Stories for This Weekend

Updated 2/21/2025 9:00:00 AM

Arab Finance: The third week of February concluded with major events, including the Egypt Energy Show (EGYPES 2025) taking place and Moody’s Ratings maintaining Egypt’s Caa1 long-term foreign and local currency issuer ratings.

The top 10 viral news stories in the week, from February 16th to 20th, are as follows:

1-Moody’s maintains Egypt’s Caa1 rating with positive outlook

Moody’s Ratings has affirmed Egypt’s Caa1 long-term foreign and local currency issuer ratings while maintaining a positive outlook, citing progress in external and fiscal rebalancing.

2-Egypt, Saudi Arabia pen energy cooperation agreement during EGYPES 2025

Egypt and Saudi Arabia signed an agreement to develop an executive plan for energy efficiency cooperation following the opening of the Egypt Energy Show (EGYPES 2025).

3- Egypt approves €12M EU financing for national population strategy

Egypt’s cabinet has approved a draft presidential decree for a €12 million financing agreement with the European Union (EU) to support the second phase of the National Strategy for Population.

4- FRA updates voluntary delisting rules to protect shareholders, ensure market stability

The Financial Regulatory Authority (FRA) has issued resolution No. 46 of 2025, amending resolution No. 11 of 2014, to enhance the rules of the voluntary delisting of listed shares.

5- Madbouly confirms public-sector salary increase to take effect in July

Egyptian Prime Minister Mostafa Madbouly confirmed that wage increases for government employees will take effect in July at the start of the new fiscal year (FY) 2025/2026.

6-Egypt, Cyprus sign 2 agreements to develop natural gas discoveries

Egypt and Cyprus signed two agreements to begin developing Cypriot natural gas discoveries, using Egyptian infrastructure.

7-Trevi launches in Egypt to reshape digital financial landscape

Trevi, an e-payment and loyalty app, has been recently launched in Egypt and is set to transform the country’s digital financial landscape with seamless, secure, and rewarding transactions.

8- eFinance Investment, Visa partner to boost digital financial services in Egypt

eFinance Investment Group has inked a new partnership agreement with Visa during the fintech VISA Connect event, held under the theme of "Mutual Investments Growth Plan," to accelerate the growth of digital financial services in Egypt.

9-Elsewedy Electric to begin supplying building materials for Ras El-Hikma project: Chairman

Elsewedy Electric is expected to start supplying building materials to the Ras El-Hikma project on Egypt’s North Coast within two months, the company’s Chairman Ahmed Elsewedy said.

10-UAE’s Dubizzle Group acquires Egypt-based Hatla2ee

The UAE-based Dubizzle Group has acquired Hatla2ee, a leading online car marketplace in Egypt.