Top 10 Trending Headlines to Go Through This Weekend

Updated 10/27/2023 9:00:00 AM

Arab Finance: The fourth week of October has been packed with newsworthy events, from the S&P Global Ratings’ downgrading its long-term ratings of three Egyptian banks to the government's approving the renewal of issuing of new Samurai bonds worth $500 million that mature in five years.

So, take a look at the most interesting news stories that have been covered from October 22nd to October 26th.

1-Cabinet renews approval on issuance of new 5-year $500M Samurai bonds

The Egyptian cabinet has renewed its approval on the issuance of new Samurai bonds worth $500 million that mature in five years.

2-S&P Global downgrades credit ratings of 3 Egyptian banks to B-

S&P Global Ratings has lowered its long-term ratings of three Egyptian banks, namely the National Bank of Egypt (NBE), Banque Misr, and Commercial International Bank (CIB), to B- from B, with a stable outlook.

3-Israel-Hamas war has economic repercussions for Egypt: Georgieva

The Israel-Hamas war will have economic repercussions for Egypt.

4-Egypt eyes luring $25B FDIs within 5 years: Heiba

Egypt is planning to lure foreign direct investments (FDIs) of $25 billion within five years.

5-Anticipated 5G network licenses to operate in Egypt at 2.6 GHz frequency

Licenses for the fifth generation (5G) mobile communication networks in Egypt will be issued without new frequencies.

6-EBRD to invest $40M in Egypt, others via SPE Capital’s fund

The European Bank for Reconstruction and Development (EBRD) is planning to provide a $40 million equity investment in favor of SPE PEF III, launched by the private equity firm SPE Capital Partners Limited at a total cost of $350 million.

7-Egypt needs to cut food losses by 20-30% to achieve food security: Moselhi

Achieving food security in Egypt necessitates reducing food losses from 20% to 30%.

8-Banque Misr, Etisalat by e& Egypt launch SuperPay e-payment platform

Banque Misr and Etisalat by e& Egypt have launched a new e-payments company, named SuperPay.

9-Value to offer flexible financing solutions to EBI’s customers

Valu has partnered with the Egyptian Banking Institute (EBI), the training arm of the Central Bank of Egypt (CBE), to offer flexible financing solutions to individuals seeking to benefit from EBI’s training programs.

10-GAFI, QNB Alahli ink MoU to promote investments in Egypt

The General Authority for Investment and Free Zones (GAFI) has signed a memorandum of understanding (MoU) with Qatar National Bank Alahli (QNB Alahli) to promote investments in Egypt.