Weekend Briefing: Top 10 News Highlights You Might Have Missed

Updated 3/28/2025 9:00:00 AM

Arab Finance: The business and economic landscape has been buzzing over the past five working days, packed with major headlines. From Egypt’s GDP climbing 2.3% in the second quarter (Q2) of fiscal year (FY) 2024/2025 to the cabinet approving the draft budget for the upcoming FY 2025/2026.

As the weekend kicks in, here’s your go-to recap of the top 10 must-know stories from March 23rd to 27th.

1-Egypt’s GDP growth rate hits 4.3% in Q2 FY2024/25: Al-Mashat

Egypt’s gross domestic product (GDP) growth rate recorded 4.3% in the second quarter (Q2) of fiscal year (FY) 2024/2025, up from the 2.3% registered in Q2 of FY2023/2024.

2-Egypt’s Cabinet approves FY2025/26 draft budget with EGP 3.1T in revenues

The Egyptian Cabinet at its latest meeting, chaired by Prime Minister Mostafa Madbouly, approved the draft budget for fiscal year (FY) 2025/2026, with revenues estimated at EGP 3.1 trillion, marking an annual growth rate of 19%.

3-Egypt, IFC join forces to upgrade 11 airports via PPPs

The International Finance Corporation (IFC) penned an agreement with Egypt’s Ministry of Civil Aviation to advise on introducing public-private partnerships (PPP) in 11 airports across Egypt to improve infrastructure, connectivity, and passenger services.

4-CBE likely to cut interest rates in April as inflation drops: NBK

The Central Bank of Egypt (CBE) is expected to start cutting interest rates during its next meeting in April, due to the 12.8% drop in inflation registered in February.

5-FRA mandates real-time data registration for insurance companies

The board of directors of the Financial Regulatory Authority (FRA) issued Decree No. 58 of 2025 regarding obligating insurance companies to register their real-time data on the electronic platform linking them with the authority.

6-InstaPay to charge fees on transactions starting April

The InstaPay app is set to apply transfer fees as of April 1st.

7-Xinfeng to establish $1.65B industrial complex in SCZone

Waleid Gamal El-Dien, Chairman of the General Authority of the Suez Canal Economic Zone (SCZone), inked a deal with XinFeng Egypt to establish an integrated manufacturing complex in Sokhna.

8-Egypt, Saudi Arabia pen agreement for fertilizer plant in Nubaria

Egypt’s Agricultural Research Centre (ARC) signed a deal with Saudi Green Company for Agricultural Development to produce agricultural fertilizer and soil conditioners in the Nubaria region.

9-SCZONE beta launches EBRD-backed one-stop-shop digital services for investors

The General Authority for the Suez Canal Economic Zone (SCZONE) has announced the beta launch of its digital services to enhance the investors’ business.

10-MSMEDA, Banque Misr pen EGP 200M deal to back small businesses

The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) signed an EGP 200 million contract with Banque Misr to back small enterprises and provide working capital.