EXPANSION-

#1- The National Bank of Egypt (NBE) inaugurated its first Saudi branch in Riyadh on Thursday, after receiving clearance from the Saudi Central Bank to operate in the kingdom, according to a statement (pdf) from the state-owned bank. CEO Mohamed El Etreby said the branch marks a key step in NBE’s international expansion strategy and will focus on corporate banking and trade finance services for companies operating in Saudi Arabia.

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#2- 2M Electric Egypt will invest SAR 200 mn to set up a factory in Saudi Arabia by mid-2026, Commercial Sector Director Ahmed Hassan told Al Borsa. The 6k-sqm facility will produce low- and medium-voltage electrical panels using 100% Egyptian labor and technology. The expansion is part of the company’s plan to tap into Gulf and African markets, aiming to add production lines and grow exports to Tanzania, Kenya, Sudan, and Iraq.

REAL ESTATE-

Hassan Allam Construction will build a new 305-feddan luxury development under a USD 550 mn turnkey contract, covering infrastructure, landscaping, and the building of residential, commercial, and office units, according to a company statement (pdf). The project is being developed by fellow Hassan Allam Holding’s subsidiary Hassan Allam Properties alongside Grova Developments.

ENERGY-

The Suez Canal Authority is mulling setting up a natural gas liquefaction and storage facility to fuel its locomotives, according to an Oil Ministry statement. The proposed project in Port Said would support the authority’s green transformation strategy.

INTERNATIONAL COOPERATION-

The EU unveiled a new Pact for the Mediterranean to strengthen political, economic, and social ties with Southern Mediterranean partners, according to a statement from the EU. The pact aims to create a “Common Mediterranean Space” that is connected, secure, and resilient through projects that promote clean energy, investment, and job creation. The initiative focuses on practical cooperation to support youth, women, and small businesses while also addressing shared challenges such as migration management, maritime security, and infrastructure resilience.

The strategy rests on three pillars — people and innovation, sustainable and integrated economies, and security and migration. Flagship projects include a Mediterranean University to link students across the region, the Trans-Mediterranean Renewable Energy and Clean Tech Initiative (T-MED) to scale up clean energy cooperation, and a regional forum on peace and security. The pact — open to engagement with partners beyond the Southern Mediterranean such as the Gulf and Sub-Saharan Africa — will be endorsed in November 2025. An accompanying action plan outlining participating countries and initiatives is expected in early 2026.

MANUFACTURING-

Local gold trader and manufacturer Avrio Gold plans to launch a new 1k-sqm plant for jewelry and gold bar production in an industrial zone in early 2026, according to a statement from the company seen by EnterpriseAM. The expansion is part of the company’s plan to boost output and strengthen its footprint in Egypt’s gold market, where it also serves as an authorized distributor for several global bullion brands.

EARNINGS WATCH-

Sidi Kerir Petrochemicals’ bottom line fell 20.4% y-o-y in 9M 2025, logging in EGP 1.5 bn, according to an EGX disclosure (pdf). The company's revenues for the period rose 8.9% y-o-y to EGP 10.9 bn.

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