Arab Finance: The first week of May wrapped up with notable economic developments, as Egypt’s non-oil private sector recorded a sharp deterioration in operating conditions in April, with persistent price pressures weighing on both new orders and output.
Here are the top 10 viral news stories of the week:
1-Egypt's non-oil activity shrinks in April as price pressures hit two-year high: PMI
Egypt's non-oil private business has seen a sharp decline in operating conditions last April due to persisting price pressures that weighed on both new orders and output.
2-Egypt imposes 3-month duty on nitrogen-based fertilizer exports
Egypt’s Ministry of Investment and Foreign Trade has imposed a three-month duty on all nitrogen-based fertilizer exports.
3-Egypt's crude steel production up 10.8% in Q1 2026
Egypt's crude steel production rose by 10.8% in the first quarter (Q1) of 2026, reaching approximately 2.89 million tons, accounting for 24% of steel production in the Middle East.
4-Kuwait extends $2B deposit with CBE by one year
Kuwait has extended a $2 billion deposit with the Central Bank of Egypt (CBE) for an additional year.
5-Egypt forecasts FY2026/27 economic growth at 5.4%: Rostom
Minister of Planning and Economic Development Ahmed Rostom outlined economic growth rate estimates for the coming fiscal years (FYs), with the Egyptian economy expected to record a 5.4% growth by the end of FY 2026/2027.
6-SCZONE attracts $16B investments from 28 countries in nearly 4 years
The General Authority for the Suez Canal Economic Zone (SCZONE) attracted $16 billion in investments from 28 countries over the past three years and nine months.
7-EgyptAir receives 1st Boeing 737 MAX under 18-jet lease deal
EgyptAir has received its first Boeing 737-8 Max from SMBC Aviation Capital as part of an 18-aircraft strategic lease agreement.
8-NTRA rolls out lower-cost telecom packages, keeps call tariffs unchanged
The National Telecommunications Regulatory Authority (NTRA) directed telecom companies operating in Egypt to offer new packages for fixed internet and mobile services.
9-EGPC signs MoU with Sonatrach to purchase Algerian crude oil
The Egyptian General Petroleum Corporation (EGPC) signed a memorandum of understanding (MoU) with Algeria’s oil and gas company Sonatrach to purchase Algerian crude oil.
10-EFG Hermes to run Misr Life Insurance's IPO on EGX
The technical committee, held under the supervision of the Sovereign Fund of Egypt (TSFE), selected EFG Hermes as the sole global coordinator and bookrunner for Misr Life Insurance Company's initial public offering (IPO) on the Egyptian Exchange (EGX).
