Egypt's top 10 most talked-about economic headlines to catch up on this weekend
Updated 5/9/2025 9:00:00 AM
Arab Finance: A landmark labor law signed by President Abdel Fattah El-Sisi and a sharp rise in Egypt’s net foreign assets led headlines in a week full of major developments on the economic and diplomatic fronts.
Here’s a look at the top 10 news stories that shaped the scene between May 4th and 8th:
Egyptian President Abdel Fattah El-Sisi signed a new labor law on the occasion of Labor Day.
2-Egypt's net foreign assets hit EGP 750.8B in March
Egypt’s net foreign assets reached EGP 760.839 billion in March 2025, compared to EGP 515.856 billion during February.
3-Egypt’s BoP registers deficit of $502.6M in H1 FY2024/25
Egypt’s balance of payment (BoP) recorded an overall deficit of $502.6 million in the first half (H1) of fiscal year (FY) 2024/2025, compared to $409.6 million in H1 of FY 2023/24.
4-Egypt’s net foreign reserves rise to $48.14B in April: CBE
Egypt's net international reserves (NIR) reached $48.143 billion at the end of April 2025.
5-Egypt’s economy to gradually improve through FY2027/28: Fitch Solutions
Fitch Solutions expects Egypt’s economic indicators to improve gradually during the period from fiscal year (FY) 2024/2025 to FY 2027/2028.
6-Egypt’s April PMI marks strongest decline in business conditions in 2025
Egypt’s headline Purchasing Managers’ Index (PMI) retreated from 49.2 in March 2025 to 48.5 in April, marking the lowest reading in 2025 so far.
7-Egypt, Greece strengthen ties with joint strategic declaration
Egyptian President Abdel Fattah El-Sisi and Greek President Konstantinos Tasoulas signed a joint declaration on the strategic partnership between the two countries as well as agreements to enhance cooperation in various fields.
8-SCZONE, AD Ports sign 50-year deal to develop KEZAD East Port Said
The General Authority of Suez Canal Economic Zone (SCZONE) inked a 50-year renewable usufruct agreement with AD Ports Group to develop the KEZAD East Port Said zone.
9-Egypt, Saudi Arabia sign MoU to boost cooperation in health sector
Khaled Abdel Ghaffar, Egypt's Minister of Health, inked a memorandum of understanding (MoU) with the Saudi Ministry of Health.
10-Al-Ahly Pharos concludes 1st Musharaka Sukuk issuance at EGP 2.8B
Al-Ahly Pharos Investment Banking, the investment banking arm of the National Bank of Egypt (NBE), completed its first-ever Musharaka Sukuk issuance at a value of EGP 2.8 billion.
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