Top 10 Viral News Stories to Revisit This Weekend
Updated 3/7/2025 9:00:00 AM
Arab Finance: The five working days ended on March 6th saw significant developments across Egypt's economy. The non-oil private sector showed further improvement in February, signaling continued recovery. Meanwhile, the Ministry of Petroleum and Mineral Resources announced new investment opportunities, offering seven undeveloped fields in the Mediterranean Sea and six exploratory areas in the Gulf of Suez and the Western Desert.
So, here is a weekly wrap-up of the most important news stories of the week from March 2nd to 6th.
1-Egypt’s non-oil private sector sees continued growth in February: PMI
Egypt's non-oil private sector continued to improve in February, maintaining the positive trend seen at the start of 2025.
2-Petroleum Ministry offers 13 new bidding rounds in Mediterranean Sea, Gulf of Suez
The Ministry of Petroleum and Mineral Resources has offered new investment opportunities in seven undeveloped fields in the Mediterranean Sea and six exploratory areas in the Gulf of Suez and the Western Desert through the Egypt Exploration and Production Gateway (EUG).
3-FRA raises maximum financing limit, insurance coverage for micro-enterprises
The Financial Regulatory Authority (FRA) issued Decrees No. 17 and 18 of 2025 on raising the maximum financing from companies, associations, and non-governmental organizations (NGOs) for micro-enterprises.
4-Egypt allocates EGP 1B in 2024/25 budget to localize automotive industry
The Egyptian government has allocated EGP 1 billion in the fiscal year (FY) 2024/2025 budget to support the Automotive Industry Localization Strategy.
5-Egypt’s economy likely to grow 4% in FY2024/25: Al-Mashat
Egypt’s economy is expected to grow by 4% by the end of fiscal year (FY) 2024/2025 and by 4.5% in the next FY.
6-SCZone pens $28M textile projects in Qantara West Industrial Zone
Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), inked two agreements for new textile projects with combined investments of $28 million.
7-Huawei, Telecom Egypt pen cooperation agreement to enhance digital tech solutions
Huawei, a leading global provider of information and communications technology (ICT) infrastructure, signed a cooperation agreement with Telecom Egypt to improve tech solutions in preparation for the launch of 5G services in Egypt.
8-Al Baraka Capital to launch 3 funds in H2 2025
Al Baraka Capital, a subsidiary of Al Baraka Bank Egypt, plans to launch three new funds during the second half (H2) of 2025.
9-Valu closes EGP 463.3M securitized bond issuance
Valu has concluded its 14th securitized bond issuance at a value of EGP 463.3 million.
10-Banque du Caire, TerraPay to allow seamless remittance digital payouts in Egypt
Banque du Caire has teamed up with TerraPay, a global leader in cross-border payment solutions, to enable digital payouts to all bank accounts and mobile wallets across Egypt.
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