Weekly Rundown of Top 10 Trending Headlines

Updated 3/21/2025 9:00:00 AM

Arab Finance: From the European Commission’s decision to impose temporary 15.6% anti-dumping duties on Egyptian steel imports to Egypt’s primary surplus surging to EGP 170 billion in the first five months of the current fiscal year, the past week has been marked by key economic developments.

The following are snippets of the top news stories posted from March 16th to 20th.

1-EU to impose anti-dumping duties on HRC steel imports from Egypt

A delegation from the Ministry of Investment will meet with representatives from the European Union (EU) to discuss the recently announced decision by the European Commission to temporarily impose 15.6% anti-dumping duties on Egyptian steel exports.

2-Egypt’s primary surplus hits EGP 170B in 5 months

Egypt achieved a primary surplus of EGP 170 billion from July to November of fiscal year (FY) 2024/25, compared to EGP 60.8 billion during the same period in FY2023/24.

3-Egypt suffers $800M monthly losses in Suez Canal revenues: El-Sisi

Egypt incurs monthly losses estimated at nearly $800 million in Suez Canal revenue due to the current situation in the region.

4-Egypt sets July 3rd for Grand Egyptian Museum opening ceremony

Prime Minister Mostafa Madbouly announced that the opening ceremony of the Grand Egyptian Museum will take place on July 3rd, gathering a number of kings, presidents, and key officials.

5-Egypt, India seek to increase trade exchange to $12B in 5 years

Egyptian Minister of Investment and Foreign Trade Hassan El-Khatib and Indian Minister of Industry and Supply Piyush Goyal agreed to boost trade exchange between Egypt and India to $12 billion over the next five years.

6-EETC, Siemens Gamesa to establish 500-MW wind farm in Gulf of Suez

The Egyptian Electricity Transmission Company (EETC) and Siemens Gamesa Renewable Energy signed an agreement to build a 500-megawatt wind farm in the Gulf of Suez.

7-UAE's ADFD launches $120M hotel project in Egypt

The Abu Dhabi Fund for Development (ADFD) has launched the Sofitel Legend Pyramids Giza project as part of its plans to boost strategic investments in Egypt's tourism sector.

8-Fawry receives Islamic financing license from FRA

Fawry, Egypt’s leading fintech company, announced that its fully owned subsidiary, Fawry MSME Finance, has secured an Islamic financing license from the Financial Regulatory Authority (FRA).

9-EFG Holding approves valU’s listing on EGX

EFG Holding, a leading financial institution in the MENA region, announced that its board has approved the listing of U Consumer Finance S.A.E. (known by its brand name valU) on the Egyptian Exchange (EGX).

10-Madbouly denies Banque du Caire sale rumors

Prime Minister Mostafa Madbouly denied reports claiming the sale of Banque du Caire at a value of $1 billion.