10 buzzing news stories to power your weekend catch-up

Updated 9/12/2025 9:00:00 AM

Arab Finance: The second week of September brought several notable economic developments in Egypt, ranging from Prime Minister Mostafa Madbouly’s confirmation that the government will not raise electricity prices this month to plans to expand the national airline fleet by nearly 30% in the coming period.

Here are the top 10 headlines to follow this week:

1-No electricity price hike at this moment: Madbouly

Prime Minister Mostafa Madbouly has confirmed that the government has no plans to raise electricity prices this month.

2-Madbouly announces plans to expand airline fleet size by 30%

Egypt plans to boost the size of its airline fleet by nearly 30% in the coming period

3-Egypt’s net foreign reserves reach $49.25B end-August: CBE

Egypt’s net international reserves (NIR) amounted to $49.250 billion at the end of August 2025.

4-Egypt targets economic growth of 7% by 2030: Al-Mashat

Egypt aims to increase its economic growth rate to 7% by 2030, versus a targeted growth of 4.5% set for fiscal year (FY) 2025/2026.

5-Egypt’s annual core inflation retreats to 11.7% in August: CBE

Egypt’s annual core consumer price index (CPI) inflation recorded 10.7% in August 2025, lower than 11.6% last July.

6-Chinese Sailun lays foundation stone for $1B factory in SCZONE

Waleid Gamal El-Dien, Chairman of the General Authority for the Suez Canal Economic Zone (SCZONE), has laid the foundation stone for the Chinese Sailun Group’s factory in the Sokhna Integrated Industrial Zone.

7-EGAS, bp sign MoU to drill 5 new natural gas wells in Mediterranean

The Egyptian Natural Gas Holding Company (EGAS) and bp signed a memorandum of understanding (MoU) to drill five exploratory natural gas wells in the Mediterranean at depths ranging between 300 and 1,500 meters.

8-Emaar Misr’s subsidiary to develop EGP 900B project in Red Sea

Sky Tower for Real Estate Development, a unit of Emaar Misr for Development, signed a deal with Golden Coast for Hotels, Tourist Villages, and Entertainment to develop an integrated tourism project.

9-ACUD eyes EGX listing; final decision pending owners’ approval

The Administrative Capital for Urban Development (ACUD) is ready to go public on the Egyptian Exchange (EGX), but the decision rests with the company's owners.

10-EBRD, GCF, EU sign $50M green financing deal with Suez Canal Bank

The European Bank for Reconstruction and Development (EBRD), Green Climate Fund (GCF), and the European Union (EU) jointly signed their first financing package with Suez Canal Bank at a total value of $50 million (€42.6 million).