Weekly Rundown of Top 10 Trending Headlines

Updated 4/18/2025 9:00:00 AM

Arab Finance: The third week of April was highlighted by major development projects and economic events, topped by Fitch asserting Egypt’s ‘B’ rating with a stable outlook. So, have a look at the top news stories of the week.

1- CBE governor says stabilizing EGP/USD exchange rate is incompatible with market-driven policy

Egypt cannot stabilize the EGP/USD exchange rate under the current flexible regime, which remains governed by supply and demand dynamics, according to the Central Bank of Egypt’s (CBE) Governor Hassan Abdalla.

2- Egypt sets EGP 3.6T in financing needs for FY2025/26

Egypt has raised its financing requirements for the upcoming fiscal year (FY) 2025/2026 to approximately EGP 3.6 trillion, marking a year-on-year (YoY) increase of nearly 25%, according to the draft general budget's analytical statement.

3- Fitch affirms Egypt’s ‘B’ rating with stable outlook

Fitch Ratings has affirmed Egypt’s Long-Term Foreign-Currency Issuer Default Rating at ‘B’ with a Stable Outlook, reflecting a combination of macroeconomic stabilization, improved external buffers, and continued policy support despite ongoing structural and fiscal challenges.

4- Egypt grants golden license to all pending Saudi projects: Madbouly

Egypt has granted the golden license to all new Saudi projects, Prime Minister Mostafa Madbouly announced during a meeting with prominent Saudi businessmen in Cairo.

5- SCZone launches digital one-stop shop services to boost investor experience

The Suez Canal Economic Zone (SCZone) has officially launched a set of digital one-stop shop services for investors, in collaboration with the European Bank for Reconstruction and Development (EBRD) and Egypt’s Ministry of Planning and Economic Development and International Cooperation.

6- S&P affirms Egypt's ‘B-/B’ rating, revises outlook to stable amid reform progress

S&P Global Ratings has revised its outlook on Egypt to stable from positive, while affirming the country’s long- and short-term sovereign credit ratings at ‘B-/B’ for both foreign and local currency debt.

7- El-Khatib meets with CEOs of Vodacom, Vodafone Egypt to discuss investment opportunities

Minister of Investment and Foreign Trade Hassan El-Khatib met with Shamil Jozub, CEO of Vodacom Group, and Mohamed Abdallah, CEO of Vodafone Egypt, to review investment opportunities and the potential for collaboration in Egypt’s technology and communications sectors.

8- Beltone secures EGP 10.5B after concluding 2nd capital hike

Beltone Holding has completed its second capital increase, securing EGP10.5 billion with a remarkable 98% subscription coverage.

9- Orascom Construction starts operations of Egypt’s largest wind farm ahead of schedule

Orascom Construction began the commercial operations at the newly expanded 650 MW build-own-operate (BOO) wind farm in Egypt six months ahead of schedule.

10- Madbouly urges local manufacturing for all wind energy projects in Egypt

Prime Minister Mostafa Madbouly has called for the local manufacturing of all equipment and components used in wind energy projects across Egypt, as he toured the 650-megawatt wind farm near Ras Ghareb, the largest of its kind in Africa.