Weekly Wrap-up of Top 10 Trending Headlines

Updated 5/23/2025 9:00:00 AM

Arab Fiannce: The third week of May was busy and full of market news, with the Egyptian government holding meeting sessions with the International Monetary Fund (IMF) delegation to discuss the fifth review of Egypt’s Extended Fund Facility (EFF).

Here are the top 10 viral news stories wrap-up of the week to revisit this weekend:

1- Egyptian Tax Authority denies plans for additional hikes in tax rates

The Egyptian Tax Authority (ETA) confirms no intentions to raise tax rates or revoke existing exemptions on essential food commodities.

2-CBE relaunches monetary policy report for Q1 2025

The Central Bank of Egypt (CBE) relaunched its quarterly Monetary Policy Report (MPR) for the first quarter (Q1) of 2025 in line with its strategy to implement an inflation-targeting framework and improve its policy transparency.

3-Arab investments in Egypt hit $41.5B in FY2023/24: CAPMAS

Arab investments in Egypt soared to $41.5 billion in the fiscal year (FY) 2023/2024, compared to $7.3 billion in FY2022/2023, as per the Central Agency for Public Mobilization and Statistics (CAPMAS) data.

4-Egypt, IMF discuss latest development on 5th EFF review

The Egyptian government and the International Monetary Fund (IMF) are currently undergoing the fifth review of Egypt’s Extended Fund Facility (EFF), following the conclusion of four previous reviews under the IMF program, Prime Minister Moustafa Madbouly revealed.

5-Egyptian Cabinet greenlights new automotive production incentive program

The Egyptian Cabinet approved a new automotive production incentive program as part of the National Strategy for Localizing the Automotive Industry.

6-Beltone Leasing closes 2nd bond in less than 9 months at EGP 2B

Beltone Holding’s subsidiary Beltone Leasing and Factoring has concluded its second securitization issuance in less than a year, with a total value of EGP 2 billion.

7-Bonyan intends to proceed with IPO on EGX

Bonyan for Development and Trade is planning to proceed with its initial public offering (IPO) and list its shares on the Egyptian Exchange (EGX).

8-Kasrawy, Jetour to establish $123M factory to assemble Jetour models in Egypt

Automakers Kasrawy Group and Jetour inked an agreement to develop a new factory to locally assemble the Jetour T1 and T2 models, with an investment of $123 million.

9-Egypt attracts $8B in Chinese Investment from 2,800 companies

The number of Chinese companies operating in Egypt has reached approximately 2,800, with total investment costs exceeding $8 billion, Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), stated.

10-EGPC, Ieoc Exploration’s daily production of petroleum liquids surpasses 110,000 barrels

The Egyptian General Petroleum Corporation (EGPC) and Ieoc Exploration BV, an Eni affiliated company, announced a total daily production exceeding 110,000 barrels of petroleum liquids through their joint ventures, Belayim Petroleum Company (Petrobel) and Agiba Petroleum Company.