Arab Finance: The last week of April ended with major events in the economic landscape, topped by announcing new CEO for the General Authority for Investment and Free Zones (GAFI) and the Cabinet extending the remote work system for employees throughout May.
To know more, here’s the list of the top ten news stories during the week:
1-Madbouly appoints Mohamed Awad as GAFI CEO for 1-year term
Prime Minister Mostafa Madbouly issued two decrees appointing Mohamed Awad as CEO of the General Authority for Investment and Free Zones (GAFI) for a one-year term and Iman Mostafa Mansour as Deputy CEO of the authority.
2-Cabinet extends Sunday remote work policy through May 2026
Egypt’s Cabinet, chaired by Prime Minister Mostafa Madbouly, approved the continuation of a remote work system on Sundays for all employees in entities covered under the relevant decree throughout May 2026.
3-MSC Euribia transits Suez Canal for 1st time after weeks of delay near Strait of Hormuz
The giant cruise ship MSC Euribia, one of the world’s largest passenger vessels, made its first transit through the Suez Canal as part of a southbound convoy after passing through the Bab El-Mandeb Strait.
4-El-Sisi reviews progress on Metro Line 4 during Pyramids Station site visit
President Abdel Fattah El-Sisi inspected construction work at the Giza Pyramids Metro Station in Giza Governorate, part of the first phase of the Cairo Metro Line 4, during a site visit on Tuesday, April 28th.
5-Egypt’s unemployment rate falls to 6.3% in 2025
Egypt’s unemployment rate fell to 6.3% in 2025 from 6.6% in 2024, according to figures reviewed during a Cabinet meeting chaired by Mostafa Madbouly.
6-Egypt reviews $400M Ain Sokhna Port terminal proposal as Chinese firms explore new investments
Egypt’s Deputy Prime Minister for Economic Affairs Hussein Eissa met with representatives of several Chinese companies to discuss potential investments across maritime transport, logistics, and manufacturing, including a proposal to establish a container terminal at Ain Sokhna Port with initial investments estimated at $400 million.
7-Talabat Egypt opens MENA’s largest express commerce distribution center
Egypt’s Minister of Communications and Information Technology Raafat Hindi inaugurated the largest express commerce distribution center in the Middle East and North Africa for Talabat Egypt.
8-QNB Egypt finances SAF facility in push for aviation decarbonization
QNB Egypt has participated as a lender in financing a sustainable aviation fuel (SAF) production facility in Egypt.
9-Contact Financial Holding names Manal Hussein as Chairperson
Contact Financial Holding has appointed Manal Hussein as the Chairperson of the Board of Directors, effective on April 28th.
10-Nassef Sawiris closes London family office as UK tax changes drive wealth exits
Egyptian billionaire Nassef Sawiris has closed the London branch of his family office, NNS Group, after giving up his UK residency, according to regulatory filings that point to broader shifts in the country’s wealth management landscape following tax changes.
