Israel’s Arkia shifts some flights to Egypt as airspace tightens

Israel’s second-largest airline Arkia Airlines is moving its operations to Egypt’s Taba and Jordan’s Aqaba as restrictions tighten at Ben Gurion Airport, including a 50-passenger per departure cap, effectively shutting down regular aviation activity, the airline said in a statement. To keep routes financially viable, the airline organizes bus shuttle services to Taba International Airport just across the border to continue its routes to Athens, Larnaca, and Batumi.

Apache hits gas in the Western Desert

US energy player Apache has made a new discovery in the Western Desert that would add 26 mmcf/d of gas and 2.7k bbl / d of condensate, according to a statement from the Oil Ministry.

Qalaa Holding sees recovery in revenues in 3Q 2025

Qalaa Holdings’ revenues inched up 2% y-o-y in 3Q 2025 to EGP 38.3 bn, according to the company’s latest earnings release (pdf). However, the company’s bottom line fell 29% y-o-y to EGP 81.4 mn as the company paid off interest from a 2024 debt restructuring agreement with local banks.

The revenue growth was driven by the Egyptian Refining Company (ERC) — which contributed 88% of Qalaa Holdings’ total revenue — as it recovered from a previous maintenance shutdown in 2Q 2025. While ERC’s revenue remained steady, its bottom line jumped 437% y-o-y to EGP 931.7 mn during the same period, thanks to higher refining margins.

When excluding ERC’s revenues, Qalaa’s top line grew 29% y-o-y to EGP 4.5 bn during the quarter, as the rest of its portfolio companies saw “solid growth.”

AAIB posts 20% y-o-y increase in net income in 2025

The Arab African International Bank (AAIB) saw its net income rise 20% y-o-y to USD 362.1 mn in 2025, according to the lender’s latest earnings release seen by EnterpriseAM. Meanwhile, net banking income inched up 2% y-o-y to USD 714.3 mn during the same period.

Lending remained solid, with loans up 27% y-o-y to USD 5.0 bn, with net interest income also up 4% y-o-y to USD 602 mn during the year. The bank’s deposits expanded by 9% y-o-y to USD 14.4 bn.

On a quarterly basis, the bank saw its net income surge 68% y-o-y to USD 106.7 mn, while revenue jumped 28% y-o-y to USD 189.0 mn.

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