Top 10 Trending Headlines to Go Through This Weekend

Updated 4/25/2025 9:00:00 AM

Arab Finance: The fourth week of April witnessed national holidays, yet it was heavy and full of interesting economic stories, led by the International Monetary Fund (IMF) raising its forecast for Egypt’s economic growth to 3.8%.

In this regard, have a look at the top news stories of the week.

1- IMF raises Egypt's economic growth forecast for FY2024/25 by 0.2%

The International Monetary Fund (IMF) has raised its forecast for Egypt’s economic growth to 3.8% for the current fiscal year (FY) 2024/2025, up from a previous estimate of 3.6%.

2- SCZone’s revenues grow 40% to EGP 8.6B by end-March

The Suez Canal Economic Zone (SCZone) reported EGP 8.6 billion in revenues by the end of March 2025, marking a 40% increase over the same period of the previous fiscal year (FY) and nearly 10% above budget expectations.

3- Egypt targets 15% increase in 2025 trade with Tunisia

Egypt aims to raise trade volume with Tunisia by 15% this year to reach $485 million, up from $421 million in 2024.

4- Cabinet approves draft law on information exchange for tax purposes

Egypt’s cabinet approves a draft law regulating the mechanism for exchanging information for tax purposes under international agreements, aiming to combat tax evasion and strengthen financial transparency.

5- El-Sisi calls for unified tax on net profit to replace service fees at entities

Egyptian President Abdel Fattah El-Sisi has directed various entities and authorities to replace the fees they charge with a single unified additional tax on net profit, Spokesman for the Presidency Mohamed Ibrahim Abdel Khaleq El-Shennawy announced.

6- NBK expects CBE to cut interest rate by 4% in upcoming meetings

The National Bank of Kuwait (NBK) expects the Central Bank of Egypt (CBE) to slash interest rates by 4% in the next monetary policy committee (MPC) meetings, driven by inflation trends and the need to maintain positive real interest rates.

7- IFC’s investment portfolio in Egypt reaches $2.4B until March

The International Finance Corporation’s (IFC) investment portfolio in Egypt stands at nearly $2.4 billion as of March 2025, in addition to a technical support and advisory portfolio worth $25.7 million.

8- EMRA, AngloGold Ashanti sign agreement to tap gold in Egypt's Eastern Desert

The Egyptian Mineral Resources Authority (EMRA) and AngloGold Ashanti penned a model agreement to exploit gold ore and associated minerals in certain areas of Egypt’s Eastern Desert.

9- EBank inks deal for new headquarters in Arkan Palm’s 205 Development

The Export Development Bank of Egypt (EBank) has signed a contract with Arkan Palm to build a new headquarters inside the 205 Project in Sheikh Zayed City.

10- Tanmeyah, AMAN Holding cooperate to launch new digital channels for financing, payment

Tanmeyah, a subsidiary of EFG Holding, has entered a strategic partnership with AMAN Holding, a Raya Holding subsidiary and fintech group in Egypt.