Arab Finance: The fourth week of July closed with several notable economic developments. Egyptian authorities said preliminary investigations indicated that a drone caused the July 29 fire aboard two ships at Damietta Port. Meanwhile, the European Commission approved the disbursement of €1.5 billion to Egypt, marking the second payment under the second tranche of its Macro-Financial Assistance (MFA) package.

Here are the 10 most-read news stories from July 26 to 30:

1-Egypt says preliminary investigation links Damietta Port ship fire to drone

Egyptian authorities said preliminary investigations indicate that a drone caused the fire that broke out aboard two ships at Damietta Port on July 29.

2-EU approves €1.5B payment under MFA package for Egypt

The European Commission has approved the disbursement of €1.5 billion, the second payment of the second tranche of its Macro-Financial Assistance (MFA) package to Egypt.

3-Egypt's food exports reach all-time high at $3.7B in H1 2026

 Egypt's food industry exports hit $3.77 billion during the first half (H1) of 2026, marking the highest semi-annual export value in the sector's history.

4-El-Sisi issues law reorganizing Future of Egypt Authority to boost economic development

President Abdel Fattah El-Sisi issued a law reorganizing the Future of Egypt Authority for Sustainable Development after it was approved by the House of Representatives.

5-Egypt’s green public investments hit EGP 215.5B in in FY 2024/25

Egypt implemented EGP 215.5 billion in green public investments during fiscal year (FY) 2024/2025.

6-Egypt rolls out investment reforms as Indian investments hit $1.26B

Minister of Investment and Foreign Trade Mohamed Farid held talks with representatives of 30 Indian companies operating in Egypt to discuss their expansion plans.

7-MRMIA pens deal with Genesis Mining for $930M phosphate project in New Valley

The Mineral Resources and Mining Industries Authority (MRMIA) signed a memorandum of understanding (MoU) with Genesis Mining to develop an integrated mining and industrial project for the exploitation of phosphate ore in New Valley Governorate.

8-Korra Energi plans EGP 405M capital raise through rights issue

Korra Energi’s board of directors has approved a proposal to increase the company’s issued and paid-up capital by EGP 405 million through a rights issue.

9-Eni reaches FID on Cyprus' Cronos gas field, targets 1st shipment via Egypt from 2028

Eni has reached the Final Investment Decision (FID) to develop the Cronos gas field offshore Cyprus, targeting to bring the first Cypriot gas to market in 2028.

10-Siemens opens electrical components, automation solutions factory in Egypt

Siemens has inaugurated a new factory in Egypt dedicated to the production of critical electrical components, protection panels, and automation solutions for industrial and infrastructure applications.