Inflation rises again in April

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WHAT WE’RE TRACKING TODAY

IMF team kicks off fifth review of Egypt’s loan program today

Good morning, friends. We kick off this particularly hot week with a busy issue, packed with the latest inflation figure, a whole lot of infrastructure news, and the latest from President Abdel Fattah El Sisi’s trip to Moscow and his meeting with his Russian counterpart.

PSA-

#1- More time to settle tax disputes: Finance Minister Ahmed Kouchouk has issued a decision extending the 13 May deadline for pre-2020 tax dispute requests by three months to 12 August, according to a statement.

You heard it here first: Last week, EnterpriseAM reported that the Finance Ministry is looking into extending the deadline.

REMEMBER- The Finance Ministry is rolling out measures to make it more attractive for businesses to settle disputes dating to before 2020, including by paying a fixed percentage of taxes owed. Businesses will be able to make those payments in four installments over a 12-month period without paying late fees or additional interest charges. This comes as part of a larger push by the Finance Ministry to widen the tax base.

#2- International schools will begin the 2025-2026 academic year on Sunday, 7 September, Education Minister Mohamed Abdellatif said in a statement.

#3- Fustat Hills Parks seeks operators for redevelopment: Local and international companies and consortia have until 3pm on 4 June to submit their qualification bids for the project to rehabilitate, manage, operate, and maintain the Fustat Hills Parks, according to a cabinet statement. The project, spanning 403 feddans, is poised to be among the largest parks in the Middle East and will include tourist, entertainment, hotel, and commercial areas.

WEATHER- Cairo is in for a very hot day, with a high of 40°C and a low of 24°C, according to our favorite weather app. Temps are expected to cool down significantly starting tomorrow, reaching a high of 33°C and a low of 20°C.

It’s a lot cooler in Alexandria, with a high of 32°C and a low of 20°C.

** DID YOU KNOW that we now cover Saudi Arabia and the UAE?

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HAPPENING TODAY-

IMF kicks off fifth review: A team from the International Monetary Fund will hold its first round of meetings with government officials today, kicking off the fifth review of Egypt’s loan program, a senior government source told EnterpriseAM. The team arrived in Cairo late last week and its agenda includes meetings with officials from the central bank, and the finance, investment, and international cooperation ministries.

WATCH THIS SPACE-

#1- Beijing backs Cairo in Suez Canal spat with Trump: China’s Foreign Ministry voiced support for Egypt’s sovereignty over the Suez Canal after US President Donald Trump demanded free passage for US vessels, with spokesperson Lin Jian saying Beijing opposes “any bullying against Egypt,” in an X post.

REMEMBER- Last month, Trump demanded free passage for American military and commercial vessels through the Suez and Panama canals, egregiously claiming that the waterways “would not exist without the United States.” The move appeared more aimed at countering Chinese influence than at addressing transit costs.

#2- Could we see confidence returning to the Suez Canal soon? Suez Canal Authority head Osama Rabie urged global shipping lines to reassess their routes and consider a gradual return to the canal amid improving security conditions in the region. This came during a meeting with representatives of 25 shipping lines, during which Rabie pointed towards the US’ recent ceasefire with Yemen’s Houthis as a sign of reduced maritime risk, a statement reads.

Logistics players respond with cautious optimism: Representatives from major global shipping lines — including Maersk, CMA CGM, and Evergreen — expressed tentative support for resuming Red Sea transits during the meeting, though most agreed that sustained stability is key to restoring confidence and fully returning to the canal. Several industry executives proposed measures to ease cost pressures on operators, including temporary incentives, renegotiating ins. premiums, and expanding ship repair services.

IPO WATCH-

Egypt’s macroeconomic outlook has considerably improved relative to the region at large, but IPO activity needs to pick up pace, EFG Hermes Investment Banking Co-CEO Mohamed Ebeid told Asharq Business. He cited growing foreign interest in Egyptian equities — driven by expectations of currency stability and low valuations — but stressed that limited IPO activity remains a constraint. “We’ve seen too few listings in recent years, especially when compared to Egypt’s historical pace and regional peers,” he said.

Ebeid downplayed the impact of Trump’s tariffs on Egypt, pointing instead to oil prices as the more consequential variable shaping macro priorities across the region. Lower oil prices, he noted, are broadly positive for Egypt, improving the external position and potentially paving the way for further rate cuts.

CIRCLE YOUR CALENDAR-

Calling all real estate developers and investors: Proptech platform Aqarmap is hosting an Egyptian-Saudi real estate summit in Cairo’s Nile Ritz-Carlton on Sunday, 18 May, the company said in a press release (pdf). The event will bring together developers, investors, and policymakers from Egypt and Saudi Arabia to discuss cross-border investment, market trends, and digital transformation in the sector.

Check out our full calendar on the web for a comprehensive listing of upcoming news events, national holidays and news triggers.

THE BIG STORY ABROAD-

India and Pakistan agreed to an immediate ceasefire yesterday that quickly turned out to be fragile, as both sides accused each other of violations and reportedly went back to exchanging fire, with multiple explosions heard around Indian-controlled Kashmir. The US-led talks had been hoped to de-escalate the serious confrontation between the nuclear-armed neighbors.

OVER IN BUSINESS- The UK sealed a trade agreement with the US, exempting the country from tariffs on steel and car exports but preserving the flat 10% reciprocal tariff applying to most goods. The agreement is the first since the tariffs were announced.

Talks are underway for more agreements, including a sit-down with Chinese officials in Switzerland yesterday that US President Trump hailed as “a total reset ... in a friendly, but constructive, manner.” The talks are reportedly set to continue today.

AND- White smoke arises: The Roman Catholic Church elected its first American pope, Pope Robert Francis Prevost (who will be known as Pope Leo), breaking what has been viewed as a long-standing taboo against tapping leaders from a big world power with influence in global affairs.

Somabay Sports Arena steps up as a leading sports destination by welcoming new partnership with S Tennis Academy and expanding its partnership with Oneflow to manage Football Courts and the Aquatics Center. With global training camps, elite facilities, and stunning surroundings, Somabay continues to shape the future of sports tourism on the Red Sea.

Egypt’s inflation rises again in April to sit at 13.9%

Annual headline urban inflation rose for the second month running in April to hit 13.9%, marking 0.3 percentage point increase from the 13.6% recorded in March, according to data from state statistics agency Capmas. On a monthly basis, inflation eased by 0.3 percentage points to 1.3%.

Driving the trend: Food and beverage price inflation, the largest component of the basket of goods and services used to calculate headline inflation, fell 0.6 percentage points to 6.0% in April.

Largely in line with expectations: The inflation reading came in line with forecasts set by experts we spoke to, who saw the figure coming in at 13.4-13.9% as rising energy prices keep the figure elevated. Banking expert Hany Abou El Fotouh cited “recent fuel price hikes and the demand pressure during holiday season,” while HC Securities’ Heba Mounir cited “the favourable base year effect and increasing energy prices.” Meanwhile, Thndr Securities Brokerage’s Chief Equity Strategist Amr El Alfy was more optimistic, predicting the annual figure to come in at 13.4%.

REMEMBER- The Oil Ministry’s fuel pricing committee raised fuel prices by 11.8-14.8% last month, in what was the government’s first fuel price hike since October 2024. Analysts we spoke to last month all agreed that the price hike will add to inflationary pressures — and even push up the headline figure.

What about core inflation? The central bank should release the figure for core inflation later today.

So, what does this mean for interest rates? “The central bank can make a number of decisions when its Monetary Policy Committee (MPC) meets in May without jeopardizing monetary and financial stability, given the widening gap between interest rates and inflation,” Ahly Pharos head of research Hany Genena told EnterpriseAM. “I don’t see the point in postponing the two percentage point rate cut, seeing as inflation will remain close to its current levels until the end of the year.”

ICYMI- Supported by cooling inflation in the first quarter of 2025, the CBE’s MPC cut interest rates by 225 bps in its second meeting of the year last month, in what was the first change to the policy rates since March 2024, following seven consecutive meetings where rates were held steady. It is also the bank’s first rate cut since November 2020.

The news received attention from: Reuters | The National.

Neric to produce Alexandria Metro trains + new West Port Said Port projects go live

Neric to manufacture 21 Alexandria Metro trains: The National Egyptian Railway Industries Company (Neric) will locally manufacture 21 trains — comprising of 189 train cars — for the Alexandria Metro under a EUR 275 mn 38-month contract signed yesterday between the company and the National Authority for Tunnels (NAT), according to a cabinet statement. The agreement covers spare parts and equipment supplies, as well as 10 years of maintenance, including one major overhaul.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The contract is the latest in a string of agreements between the Transport Ministry and Neric to localize rail manufacturing as part of a broader strategy to turn the country into a regional industrial hub. Neric was tapped in 2022 to produce 40 metro trains for lines 2 and 3 of the Cairo Metro in partnership with South Korean railway equipment manufacturer Hyundai Rotem under a USD 656 mn contract.

More on the way: Neric is also in talks with the Transport Ministry and a global transport firm to locally manufacture 500 train wagons, the statement read without providing any details.

A WHOLE LOTTA NEW PROJECTS IN WEST PORT SAID PORT-

#1- A dry bulk wheat terminal: Prime Minister Moustafa Madbouly inaugurated a EGP 1 bn dry bulk wheat terminal in East Port Said Port, according to a separate statement. The terminal includes eight silos with a 100k tons storage capacity and can handle up to 36 ships annually.

Part of the gov’t silo expansion strategy: The project broke ground in 2021 as part of the state’s ongoing efforts to expand its wheat storage capacity and reduce waste. It was designed to ease pressure on existing port silos in Damietta, Dekheila, Alexandria, and Safaga and was backed by USD 538 mn in food security funding from the UAE, the Saudi Fund for Development, France, and multilateral lenders.

Behind the silos: The silos were set up by Elsewedy Electric subsidiary Rowad Modern Engineering, with the aim of strengthening Egypt’s food security. The project will increase the country’s annual wheat handling capacity by up to 2 mn tons, reduce wheat losses, and speed up ship unloading and storage times, Rowad said in a press release.

East Port Said project up next: Rowad CEO Mohamed Mahlab said the company is building another grain silo project in East Port Said with a capacity of 120k tons. He added that Rowad is looking into setting up similar projects across the Middle East and Africa.

#2- Abbas Berth reopened following upgrade: Madbouly yesterday inaugurated the upgraded Abbas Berth at West Port Said Port after it underwent a EGP 1.8 bn overhaul, according to a statement.

The 670-meter-long revamped berth can now receive vessels at a depth of up to 14 meters — enhancing the port’s operational efficiency. It also comes with a new 18k sqm back area with an 8-ton/sqm load capacity.

#3- A new liquid bulk terminal: Madbouly also inaugurated a EGP 1.6 bn liquid bulk terminal — operated by local chemicals storage player New Horizon Tank Terminal — at West Port Said Port, according to a statement.

The details: The terminal — which spans 15.7k sqm — includes 27 tanks with a total storage capacity of 51.2k cbm. The facility is designed to accommodate liquid bulk vessels with capacities of over 20k tons, and is expected to handle 310k tons annually. The terminal is projected to receive between 48 to 70 vessels each year.

El Sisi concludes Moscow trip with talks on trade, tourism, and Gaza ceasefire

El Sisi, Putin talk boosting cooperation: President Abdel Fattah El Sisi held cooperation-centered talks with his Russian counterpart Vladimir Putin in Moscow on Friday on the sidelines of the May Victory Day Parades, according to an Ittihadiya statement. The talks touched on expanding cooperation in key sectors including energy, food security, mining, agriculture, and industry.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Tourism was also a prominent topic on the agenda: Cairo and Moscow agreed to step up Russian tourism flows to Egypt and promote lesser-known destinations to the Russian market.

Both sides expressed anticipation for the Egyptian-Russian Business Forum set to take place this month, which will focus on priority economic sectors.

Diplomatic issues were also on the table: El Sisi and Putin discussed regional issues — with a focus on Gaza, Syria, Libya, Sudan, and Ukraine. Putin voiced Russia’s full support to Egypt’s Gaza reconstruction plan and Egypt’s efforts to achieve regional stability.

IN A SEPARATE MEETING- El Sisi also held talks with Palestinian Authority President Mahmoud Abbas in Moscow, where the two discussed Egypt’s role in mediating a Gaza ceasefire and pushing for the entry of humanitarian aid, according to a separate Ittihadiya statement. El Sisi reaffirmed Cairo’s full support for the Palestinian cause.

WHAT WENT DOWN AT THE EGYPTIAN-SWISS JOINT COMMITTEE-

Enhancing Egyptian-Swiss ties: Egypt and Switzerland held the first meeting of their joint economic committee in Bern yesterday, according to a statement. Representatives from a handful of ministries were in attendance — alongside their Swiss counterparts — to discuss developing trade and investment ties between the two sides and to showcase investment facilities.

Swiss investors like Egypt: Over 100 Swiss companies have direct investments in Egypt across a number of sectors — pharma, F&B, and logistics.

Egypt’s auto sales edge up 1.8% m-o-m in March

Vehicle sales rose to 10.8k units in March, up slightly from 10.6k in February, according to figures from the Automotive Marketing Information Council (Amic) seen by EnterpriseAM. The figure marks a continued recovery in the auto sales market, which kicked off in February following a 22.0% drop in January.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

The passenger vehicle segment recorded a growth of 2.6% m-o-m in March, with sales reaching 8.4k. Bus sales saw a notable increase, rising 11.4% m-o-m to 686 units. Truck sales, however, experienced a dip, falling 5.2% m-o-m to 1.7k units.

On a yearly basis, total auto sales in March were up 156.5%, with all three segments seeing substantial growth. Passenger car sales rocketed 203.9% y-o-y to 8.4k units, bus sales climbed 31.4% y-o-y, and truck sales jumped 85.7% y-o-y. The total units sold in March 2025 were 10.8k, up from 4.2k in March 2024.

REMEMBER- Auto sales saw a partial recovery last year, growing some 13.2% y-o-y with some 102.2k vehicles sold throughout the year after the market got the chance to catch its breath after a turbulent period triggered by an FX crunch that limited supply in the market and gave distributors leverage to hike prices as they pleased.

A caveat to the numbers: Amic figures are sourced from member distributors, representing the bulk — but not the entirety — of the industry.

Kouchouk appoints real estate tax chief for one-year term

New real estate tax chief appointed: Finance Minister Ahmed Kouchouk has appointed Ahmed El Ashaal as head of the Real Estate Tax Authority for a one-year term, or until the position is permanently filled — whichever comes first — according to a decision published in the Official Gazette. El Ashaal previously held a senior administrative role at the Finance Ministry.

Madbouly orders investigation into adulterated fuel claims

It was a busy night on the airwaves, with the nation’s talking heads bringing us coverage of fuel drama, Takaful and Karama updates, and some startup news.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

Madbouly orders probe into adulterated fuel claims: Prime Minister Moustafa Madbouly addressed the fuel contamination allegations during his weekly presser last week, saying he had instructed Oil Minister Karim Badawi to conduct a full investigation into the claims and make the results public.

The Oil Ministry has received some 681 complaints from across the country related to the alleged adulterated fuel, ministry spokesperson Moataz Atef told El Hekaya’s Amr Adib (watch, runtime: 2:58). So far, the tests conducted showed that samples meet specifications, but investigations are still ongoing..

ALSO ON THE AIRWAVES- Local fintech startup Bokra Holding plans to launch EGP 20 bn in SME-focused financing by the end of the year, founder and CEO Ayman Elsawy told Cairo Weekend’s Zeina Soufan (watch, runtime: 12:26), naming healthcare, agritech, education, and logistics as priority sectors.

That’s not all: The company is also planning to roll out real estate and gold investment funds in real estate and gold metals by 3Q 2025, backed by sharia-compliant debt instruments, Elsawy said, adding that the move aims to tap into Egyptians’ longstanding affinity for gold and real estate as value-preserving assets. The real estate fund will be worth around EGP 2 bn, while the gold fund is expected to launch with a size of EGP 50-100 mn, Elsawy said.

WANT MORE OF ELSAWY? We interviewed the founder and CEO for our My Morning Routine column last month. Check out the interview here.

AND- Private equity outfit Ezdehar is looking to acquire two companies in 4Q 2025 — including one in the ready-made garments industry, Managing Director Emad Barsoum told Cairo Weekend (watch, runtime: 1:12). The firm is targeting USD 70-80 mn in new investments through 1Q 2026.

Chevron wants to increase its presence in Egypt

ENERGY-

#1- Chevron is looking to boost its upstream presence in Egypt as gas output from its Israeli fields climbs toward record levels, according to industry publication Middle East Economic Survey (Mees). Comments from CEO Mike Wirth “alluded to talks with Cairo to take new acreage,” Mees writes. The publication pointed to advanced negotiations between the oil player and the Madbouly government as Chevron eyes a direct award of the West Star block.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

ICYMI- An unnamed government source told Asharq Business last week that the US energy giant pledged no less than USD 120 mn in investment in a new exploration concession after the Oil Ministry approved a new exploration agreement granting it the rights to explore for oil and gas in the West Star concession in the northeast Mediterranean.

Exploration setbacks haven’t dampened interest: Despite pulling out of its Red Sea block in April and a failed wildcat well at the North El Dabaa block earlier this year, Chevron remains bullish on the Eastern Mediterranean. “We’ve got some good exploration acreage in the onshore Egypt area that we brought to the table as well and the expectation is for some exploration wells there in the coming couple of years,” Wirth said in an earnings call this month.

#2- Inching closer to Hurghada’s 20 MW solar power plant: Egypt will ink contracts by mid-2025 with a Japanese consortium — which includes Mitsubishi — to establish a 20 MW solar plant in Hurghada, which will be the country’s last power plant project to be owned by the government, Asharq Business reports, citing a government official. The plant will cost USD 50 mn, fully funded through a soft loan from Japan International Cooperation Agency (JICA), the official added.

BACKGROUND- First announced in 2016, the 20 MW Hurghada solar plant stalled for years before JICA stepped in with a USD 106 mn loan.

EXPANSION-

Azimut to launch KSA asset management arm in 3Q: Asset manager Azimut has received approval from Saudi Arabia’s Capital Markets Authority to launch onshore asset management operations in the kingdom, with the rollout set for the third quarter of this year, the company said in a statement (pdf). The move will mark Azimut’s entry into its 20th international market and will give it access to a pool of more than USD 1 tn in institutional assets and USD 260 bn in retail capital.

SUSTAINABILITY-

Egypt, UAE partner on decarbonization: The Industry Ministry’s Industrial Modernization Center has partnered with UAE’s Industry and Advanced Technology Ministry to advance clean industrial projects across the MENA region under the UAE-led Industrial Transition Accelerator (ITA), according to a statement.

The ITA? Launched at COP28 and backed by the UAE, the ITA seeks to cooperate with regional governments and industry leaders to promote emerging green industries and drum up the needed capital to support decarbonization efforts in heavy-emitting sectors.

TECH-

Introducing the National IPv6 Strategy: The National Telecom Regulatory Authority (NTRA) has launched the National Internet Protocol Version 6 (IPv6) Strategy, which is designed to boost Egypt’s digital infrastructure and ensure the long-term sustainability of internet services amid rising demand from 5G technologies and the Internet of Things, NTRA said in a statement (pdf).

The targets: The strategy aims to prepare Egypt’s public and private digital infrastructure for full IPv6 readiness within three years, with a goal of reaching 80% adoption by 2030. It includes rolling out specialized training programs and public awareness campaigns.

Saudi Arabia led the regional IPO chart in 1Q -EY

MENA markets raised USD 2.4 bn in IPO proceeds across 14 listings last quarter, up from just 10 in 1Q 2024, marking a 106% increase in proceeds, according to EY’s MENA IPO eye report (pdf). IPO activity was heavily concentrated in Saudi Arabia, with only one listing in the UAE, and another in Oman. Despite the narrow distribution and global market jitters, EY sees the region’s IPO pipeline remaining intact.

(Tap or click the headline above to read this story with all of the links to our background as well as external sources.)

KSA tops the charts: The Kingdom was home to 12 out of the 14 IPOs in the region last quarter, raising roughly USD 1.9 bn in proceeds across five main market listings and nine on Tadawul’s parallel market Nomu. Saudi real estate company Umm Al Qura for Development was the region’s highest grossing IPO in 1Q, contributing 22% to overall proceeds from the region, followed by hospital operator Almoosa Health (19%). The largest contributions came from real estate management (28%), health care equipment and services (24%), financial services (21%), and consumer discretionary distribution and retail (17%).

Meanwhile, the UAE saw one IPO in 1Q. The Abu Dhabi Exchange (ADX) was home to the UAE’s first and only IPO so far this year. Software company Alpha Data took a 40% stake to market in March, raising USD 163 mn.

Oman was the only other IPO contributor in the region last quarter. The LNG transport unit of state-backed logistics giant Asyazd Group Asyad Shipping ’s debut of a 20% stake on the Muscat Exchange raised USD 333 mn.

Top performing IPOs: Eleven stocks closed higher on their trading debut, with six — including Umm Al Qura for Development & Construction, Arabian Company for Agricultural and Industrial Investments (Entaj), and Derayah Financial — hitting the 30% daily limit set by regulators. 11 out of 14 IPOs were trading above their IPO prices as of 31 March. Umm Al Qura for Development & Construction posted the strongest performance, with a gain of 60%, followed by Riyadh-based Basma Adeem Medical Company, which recorded a 50% increase.

EY expects more IPO activity from tech firms this year: “In 2025, we can potentially expect to see an increase in IPOs from the technology sector including online retail, fintech, foodtech and classifieds,” the firm’s MENA IPO leader Gregory Hughes said.

What’s in the pipeline? EY says at least 21 more companies are expected to go public across MENA markets this year. Saudi Arabia continues to dominate the pipeline, with 17 firms already cleared by the CMA, while the UAE has three announced IPOs in the works, and Egypt has announced one, the report reads.

MENA stock exchanges delivered mixed results last quarter, with three posting gains and six ending the quarter in negative territory. Boursa Kuwait’s Premier Market Index led regional performance with a strong 10.7% gain, followed by the EGX30, which rose 8%. In contrast, Saudi Arabia’s Tasi recorded a marginal decline of 0.4%. On the weaker end of the spectrum, the MSM General Index in Oman posted the steepest drop, falling 4.6%, while the Qatar Exchange General Index declined 3.2% over the same period.

EGX30	31,772	-0.2% (YTD: +6.8%)
USD (CBE)	Buy 50.56	Sell 50.69
USD (CIB)	Buy 50.57	Sell 50.67
Interest rates (CBE)	25.00% deposit	26.00% lending
Tadawul	11,364	-0.3% (YTD: -5.6%)
ADX	9,626	-0.1% (YTD: +2.2%)
DFM	5,313	0.0% (YTD: +3.0%)
S&P 500	5,660	-0.1% (YTD: -3.8%)
FTSE 100	8,555	+0.3% (YTD: +4.7%)
Euro Stoxx 50	5,310	+0.4% (YTD: +8.5%)
Brent crude	USD 63.91	+1.7%
Natural gas (Nymex)	USD 3.80	+5.7%
Gold	USD 3,344	+1.2%
BTC	USD 103,243	+0.3% (YTD: +10.4%)
S&P Egypt Sovereign Bond Index	867.2	+0.1% (YTD: +11.5%)
S&P MENA Bond & Sukuk	143.4	-0.1% (YTD: +2.5%)
VIX (Volatility Index)	21.90	-2.6% (YTD: +26.2%)

THE CLOSING BELL-

The EGX30 fell 0.2% at Thursday’s close on turnover of EGP 5.9 bn (30.9% above the 90-day average). Regional investors were the sole net sellers. The index is up 6.8% YTD.

In the green: Beltone Holding (+2.2%), Qalaa Holdings (+1.1%), and Emaar Misr (+1.0%).

In the red: Orascom Development Egypt (-2.1%), Egyptalum (-2.1%), and Palm Hills Development (-1.6%).

CALENDAR

MAY

13-14 May (Tuesday-Wednesday): Egypt Facility Management Forum, Cairo, Egypt.

18 May (Sunday): Aqarmap’s Egyptian-Saudi real estate summit, at the Nile Ritz-Carlton.

18-19 May (Sunday-Monday): International Monetary Fund MENA Research Conference, Cairo, Egypt

18-20 May (Sunday-Tuesday): First Arab International Exhibition for Sustainable Development

22 May (Thursday): Central Bank’s Monetary Policy Committee to meet to decide interest rates

25 May (Sunday): Social Education Summit 2025, Cairo, Egypt

30-31 May (Friday-Saturday): Africa Business Summit, London, UK

Egyptian Exporters Association (Expolink) exhibition, Italy

Egyptian-Russian Business Forum

May 2025: Egypt-Singapore Business Forum, Cairo

May 2025: Egyptian-US Investment Forum

JUNE

2-4 June (Monday-Wednesday): Manufacturing and packaging forum ProPak MENA and Fi Africa 2025, Egypt International Exhibition Centre.

3 June (Tuesday): S&P Global to release PMI data for May recording non-oil private sector activity

10 June (Tuesday): Capmas expected to publish inflation data for May

MPs approveextension of tax dispute resolution window until 30 June 2025, with potential for further extension

Coficab to complete its USD 88 mn automotive cable and electrical factory in Tenth of Ramadan City

Realme to open smartphone factory

IFC President Makhtar Diop to visit Egypt

JULY

10 July 2025 (Thursday): Monetary Policy Committee’s fourth meeting

15-16 July 2025 (Tuesday-Wednesday): Egypt Mining Forum

July 2025: The first operational trail of Egypt-KSA electricity interconnection line

Etihad Airways to launch twice-weekly flights to Alamein

AUGUST

28 August 2025 (Thursday): Monetary Policy Committee’s fifth meeting.

Tourism Development Authority to waive late payment penalties for land purchases if full installments are paid

SEPTEMBER

Egypt Education Platform (EEP) to launch two new schools in Alexandria and Somabay

Egypt Otsuka’s nutritional products factory in Tenth of Ramadan to begin operations, with exports to Gulf countries expected by January 2026

OCTOBER

2 October 2025 (Thursday): Monetary Policy Committee’s sixth meeting.

NOVEMBER

20 November 2025 (Thursday): Monetary Policy Committee’s seventh meeting.

November: Egypt to join the EU’s Horizon Europe research and innovation program.

DECEMBER

1-4 December: Egypt Defence Expo (EDEX), Egypt International Exhibition Centre.

25 December: (Thursday): Monetary Policy Committee’s eighth meeting.

EVENTS WITH NO SET DATE

1Q 2025: The Egyptian-Italian business forum

1Q 2025: Investment Minister Hassan El Khatib to visit Italy

1Q 2025: Eipico’s biopharma plant to begin operations

1Q 2025: Finance Ministry to launch public consultations on its tax policy document

Mid-2025: EGX launches sustainability index.

2Q 2025: Financial Regulatory Authority (FRA) to introduce derivatives on the EGX

2Q 2025: Safaga Terminal 2 to start operations

1H 2025: EGX launches a sharia-compliant sustainability index.

1H 2025: Digital Financial Identity Company will launch an electronic bank account opening service

1H 2025: The Egyptian-US Investment Forum.

1H 2025: The Egyptian Mineral Resources Authority will relaunch a global tender for gold exploration through Shalateen Mineral Resources company.

3Q 2025: Nasr Automotive begins locally manufacturing passenger cars.

Mid-2025: The Administrative Capital for Urban Developments to roll out the second phase of offering industrial plots to investors

2025: The InterAcademy Partnership assembly

2025: Nile Basin States Summit, Cairo, Egypt

2025: Release of the government’s Startup Charter document

2026

Early 2026: Passenger operations on the New Administrative Capital–Nasr City monorail scheduled to begin.

1Q 2026: Trial operations for the Ain Sokhna–Sixth of October section of Egypt’s first high-speed rail line scheduled to begin.

1 January: European Union’s Carbon Border Adjustment Mechanism (CBAM) to fully come into effect

May 2026: End of extension for developers on 15% interest rates for land installment payments

2027

20 January-7 February: Egypt to host the African Games.

April 2027: Tenth of Ramadan dry port and logistics hub to begin operations.

EVENTS WITH NO SET DATE

2027: Egypt to host EBRD’s annual meetings for 2027.

End of 2027: Trial operations at the Dabaa nuclear power plant expected to take place.

September 2028: First unit of the Dabaa nuclear power plant begins operations.

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IMF team kicks off fifth review of Egypt’s loan program today

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Egypt’s inflation rises again in April to sit at 13.9%

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Neric to produce Alexandria Metro trains + new West Port Said Port projects go live

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El Sisi concludes Moscow trip with talks on trade, tourism, and Gaza ceasefire

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Egypt’s auto sales edge up 1.8% m-o-m in March

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Kouchouk appoints real estate tax chief for one-year term

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Madbouly orders investigation into adulterated fuel claims

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Chevron wants to increase its presence in Egypt

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Saudi Arabia led the regional IPO chart in 1Q -EY

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