Don’t Miss Top Key News in October’s Last Week

Updated 10/31/2025 9:00:00 AM

Arab Finance: October ended with rich updates in Egypt’s economic sector, topped by Fitch Solutions' BMI raising Egypt’s gross domestic product (GDP) growth forecast for fiscal year (FY) 2025/2026.

Here is the list of top important news:

1-Fitch Solutions’ BMI raises Egypt’s GDP FY2025/26 growth forecast

Fitch Solutions’ research arm BMI has revised Egypt’s gross domestic product (GDP) growth forecast for fiscal year (FY) 2025/2026 at 5%, up from 4.7% previously projected in August, according to Enterprise News, citing Ramona Moubarak, Head of MENA Country Risk at Fitch Solutions.

2-Egypt's FY2024/25 economic growth beats expectations at 4.4%: Kouchouk

Egypt’s economic growth for the fiscal year (FY) 2024/2025 surpassed expectations, recording 4.4%, driven by strong performance across manufacturing, tourism, communications, and information technology, Minister of Finance Ahmed Kouchouk revealed.

3-Finance Ministry issues gold, silver commemorative coins honoring Grand Egyptian Museum

Egypt’s Ministry of Finance announced that the Public Treasury and Mint Authority has issued a collection of commemorative coins made of raw gold and silver to document the landmarks of the Grand Egyptian Museum.

4-Egypt secures African consensus on outstanding AfCFTA rules of origin after 4 years of negotiations

Egypt, in its capacity as chair of the Ministerial Council of Trade Ministers of the African Continental Free Trade Area (AfCFTA), has succeeded in reaching African consensus on the long-standing rules of origin for the apparel, textiles, and automotive sectors, following more than four years of negotiations.

5-Egypt completes drilling of Zohr-9 well; Denise W-1X drilling begins

Minister of Petroleum and Mineral Resources Karim Badawi announced the successful completion of drilling the Zohr-9 well in the Zohr natural gas field in the Mediterranean Sea, yielding around 70 million cubic feet of gas per day.

6-Madbouly inaugurates $85M DP World's logistics park in Sokhna

Prime Minister Mostafa Madbouly inaugurated DP World's logistics park during his visit to the Sokhna Integrated Industrial Zone, part of the General Authority for the Suez Canal Economic Zone (SCZONE).

7-SCZONE signs $75M contracts for 3 new projects in Qantara West

The General Authority of the Suez Canal Economic Zone (SCZONE) has signed contracts for three new industrial projects in the Qantara West Industrial Zone, with total investments exceeding $75 million and expected exports surpassing $100 million annually.

8-Beltone Financial resumes trading on EGX after affirming strong financial solvency

Trading on Beltone Financial Holding’s shares has been resumed on the Egyptian Exchange (EGX) during Wednesday’s mid-session, with the company affirming its strong financial solvency.

9-Fawry to offer customers Apple Pay services

Fawry for Banking Technology and Electronic Payment collaborated with Banque Misr to provide its customers with Apple Pay services and help them avoid handing their payment card to someone else.

10-QatarEnergy acquires 40% stake in North Rafah Offshore exploration block in Egypt

QatarEnergy has acquired a 40% participating interest in Egypt’s North Rafah offshore exploration block through a farm-in agreement with Eni, which will remain the operator with a 60% stake.