Top 10 News Stories of April's 1st week

Updated 4/6/2025 3:24:00 PM

Arab Finance: The first week of April has witnessed a handful of events in Egypt, despite the Eid El-Fitr holiday, on top of which are the European Parliament’s approval for a €4 billion tranche for the country and US President Donald Trump's announced tariffs on all imports.

Here are the top news stories of the week:

1- EU approves €4B MFA tranche for Egypt

The European Parliament approved the second tranche worth €4 billion of the European Union's (EU) Macro-Financial Assistance (MFA) package for Egypt during its session on April 1^st.

2- Egypt's net foreign assets hit EGP 515.856B in February

Egypt’s net foreign assets (NFAs) hit EGP 515.856 billion in February 2025, higher than EGP 437.261 billion in January, the Central Bank of Egypt (CBE) data showed.

3- Egypt receives $1.2B as 4th tranche of IMF's EFF program

Egypt has received the $1.2 billion fourth tranche of its loan from the International Monetary Fund (IMF) under the Extended Fund Facility (EFF) program.

4- US imposes 10% tariff on goods imported from Egypt

US President Donald Trump announced a 10% baseline tariff on most goods imported to the US, including Egypt, effective April 5th.

5- Egypt’s non-oil private sector declines in March despite cooling inflation

Egypt’s non-oil private sector fell back into contraction in March after experiencing improved business conditions in the first two months of the year.

6- Egypt's auto sales climb 4.3% MoM in February

Automotive sales in Egypt jumped by 4.3% month-on-month (MoM) to 10,600 units in February, up from 10,100 in January, according to data from the Automotive Marketing Information Council (Amic).

7- Transport Ministry offers investment opportunities in 4 dry ports

The Ministry of Transport has announced investment opportunities in four dry ports, namely Sadat, Borg El Arab, Sohag, and Abu Simbel.

8- Ahmed Amawi named as new Head of Egyptian Customs Authority

Prime Minister Mostafa Madbouly has appointed Ahmed Amawi Rubin Youssef as Head of the Egyptian Customs Authority (ECA) at the Ministry of Finance for a one-year term.

9- EGP hits record low of 51.21 per USD

The Egyptian pound has plunged to its lowest level in history against the US dollar on Sunday, April 6th, reaching 51.21 EGP per dollar at several banks.

10- CIRA Education eyes expansion in Saudi market

Cairo for Investment and Real Estate Development (CIRA Education) is exploring opportunities to expand business in the Saudi market.