Top 10 Viral News to Check This Weekend

Updated 10/17/2025 9:00:00 AM

Arab Finance: The second week of October ended with a handful of major economic developments, led by the IMF raising Egypt’s economic growth forecast for fiscal year (FY) 2025/2026.

Here are the top 10 viral news for the week, from October 12th to 16th:

1-Egypt submits new IPO program to IMF: Kouchouk

Egypt has submitted a new state offering program to the International Monetary Fund (IMF) as part of its ongoing economic reform efforts, Minister of Finance Ahmed Kouchouk told Al Arabiya Business.

2-Egypt accredits 1st X-ray gold testing lab in Africa, Middle East

Egypt's Assay and Weights Administration (AWA) has accredited the country's first X-ray laboratory for gold testing and analysis under the directives of Minister of Supply and Internal Trade Sherif Farouk.

3-Cabinet extends building violations reconciliation deadline

The Egyptian cabinet has approved extending the deadline for submitting reconciliation requests for certain building violations to the relevant administrative authorities for an additional six months, starting November 5^th.

4-IMF raises Egypt’s FY2025/26 GDP growth forecast to 4.5%

The International Monetary Fund (IMF) has revised upward its forecast for Egypt’s real gross domestic product (GDP) growth in fiscal year (FY) 2025/2026 to 4.5%, up from its July estimate of 4.1%, according to the IMF’s World Economic Outlook report for October 2025.

5-CBE launches Banking Reform and Development Fund

The Central Bank of Egypt (CBE) has announced the establishment of the Banking Reform and Development Fund and the formation of its board of directors for a four-year term.

6-Infinity Fabric to build $15M yarn, textile factory in Sokhna industrial zone

The General Authority for the Suez Canal Economic Zone (SCZONE) has signed a contract with Infinity Fabric for a yarn and textile manufacturing project in the Sokhna Industrial Zone, with total investments of $15 million.

7-Egypt's Idku plant exports LNG shipment to Italy on Shell's behalf

The Ministry of Petroleum and Mineral Resources announced the export of a liquefied natural gas (LNG) shipment from the Idku liquefaction and export plant on behalf of Shell International via the cargo ship New Nature.

8-Saudi Arabia’s Sumou Holding in talks to acquire Egypt’s Midar for $3.5B

Saudi real estate investor Sumou Holding is in preliminary talks to acquire Egyptian developer Midar for Investment and Urban Development, Al Arabiya Business reported, citing unnamed sources familiar with the matter.

9-Suez Canal Bank, Oliv pen EGP 30M credit facility agreement

Suez Canal Bank and Oliv signed a credit facility agreement valued at EGP 30 million to support Egypt’s small and medium-sized enterprises (SMEs).

10-Bonyan strengthens Grade-A assets with handover of Building A5

Bonyan for Development and Trade (BONY.CA) has successfully delivered Building A5, which is located on South 90 Street, directly opposite the American University in Cairo (AUC).