Weekend Briefing: Top 10 News Highlights You Might Have Missed
Updated 7/18/2025 9:00:00 AM
Arab Finance: The business and economic landscape has been buzzing over the past five working days, packed with major headlines. These include the International Monetary Fund’s (IMF) expectations for the Egyptian pound (EGP) to US dollar exchange rate, as well as forecasts from Minister of Petroleum and Mineral Resources Karim Badawi that Egypt’s production of gold and silver will reach nearly 640,000 ounces during fiscal year (FY) 2024/2025.
1-IMF expects limited EGP/USD fluctuation, closed official-parallel markets gap
The Egyptian pound (EGP) to US dollar rate is expected to fluctuate within a limited range, with gaps between the official and parallel markets to remain closed.
2-Egypt’s production of gold, silver up 14% YoY in FY2024/25: Badawi
Egypt’s production of gold and silver reached almost 640,000 ounces during fiscal year (FY) 2024/2025, with an increase of about 14% over the previous year.
3-Egypt outlines roadmap to advance green transition via CBMA policy
The Egyptian government rolled out plans to develop a roadmap for implementing the Carbon Border Adjustment Mechanism (CBAM) policy to advance its green transition.
4-CBE returns bank withdrawal cap to EGP 250,000
The Central Bank of Egypt (CBE) issued an official letter to state-based lenders that the maximum daily cash withdrawal limit from branches has returned to its normal level of EGP 250,000, for both individuals and companies, effective on July 15th.
5-Egypt settles $1B in arrears to IOCs: Madbouly
The Egyptian government has paid more than $1 billion of its debts to international oil companies (IOCs) operating in the country.
6-SCZone, Nile Plastic Recycling seal deal for new PET recycling facility in Sokhna Industrial Zone
The Suez Canal Economic Zone (SCZone) and Nile Plastic Recycling Company signed an agreement to establish a new polyethylene terephthalate (PET) recycling facility in the Sokhna Integrated Industrial Zone.
7-Egyptian government grants golden licenses for 3 strategic projects
The Cabinet has granted the golden license to three projects, established by private companies.
8-Bonyan's public offering covered 33.7x
Bonyan for Development and Trade's public offering has been covered approximately 33.7 times.
9-MSMEDA signs EGP 80M financing agreement with Tadbiir to support SMEs
The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) signed a financing deal with Tadbiir for Leasing & Factoring at a value of EGP 80 million.
10-EFG Hermes advises on Nesma & Partners’ acquisition of AYTB
EFG Hermes, an EFG Holding Company, has concluded its advisory role to Nesma & Partners on the acquisition of Al Yusr Industrial Contracting Company (AYTB).
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