Top 10 Trending News to Read in December's 1st Week

Updated 12/5/2025 9:00:00 AM

Arab Finance: The first week of December ended with a handful of interesting economic developments in various key sectors, including mining, energy, tourism, financing, and more.

Take a look at the week’s top 10 news stories:

1-Egypt’s non-oil private sector records strong growth in November as PMI hits 5-year high

Business conditions in Egypt’s non-oil private sector improved in November, as cost pressures eased and selling prices rose at a slower pace, with firms reporting the fastest increases in output and new orders in five years, according to the latest S&P Global Egypt Purchasing Managers’ Index™ (PMI).

2-Finance Ministry announces 2nd package of tax incentives to expand tax base

Egypt’s Minister of Finance Ahmed Kouchouk announced the second package of tax incentives, saying it forms part of a wider plan to ease procedures for the taxpaying community.

3-IMF talks expected to move smoothly amid positive economic indicators: Madbouly

Prime Minister Mostafa Madbouly said he expects discussions with the International Monetary Fund (IMF) mission to move forward smoothly, pointing to recent improvements in Egypt’s economic indicators.

4-Egypt’s local currency deposits rise to EGP 9.26T in October: CBE

Total deposits in local currency at banks operating in Egypt increased to EGP 9.264 trillion by the end of October 2025, up from EGP 9.157 trillion at the end of September, according to a report released by the Central Bank of Egypt (CBE).

5-Fitch Ratings sees Egypt’s tourism growth continuing into 2026 with 18.6M visitors: IDSC

The cabinet’s Information and Decision Support Center (IDSC) highlighted a new report from Fitch Ratings projecting continued growth in Egypt’s tourism sector through 2026, building on the strong rebound recorded in recent years and the momentum expected in 2025.

6-Infinity Power breaks ground on 200-MW Ras Ghareb Wind Project after EPC deal with POWERCHINA

Infinity Power, Africa’s largest renewable energy provider, has started construction on the 200-megawatt Ras Ghareb Wind Project in Egypt’s Gulf of Suez after signing an engineering, procurement, and construction (EPC) contract with POWERCHINA Huadong Engineering Corporation Limited (HDEC).

7-Oriental Weavers inaugurates PV solar power plant in 10th of Ramadan City

Oriental Weavers Carpets has inaugurated its second photovoltaic (PV) solar power station with a capacity of 2.6 MWp at Oriental Weavers International in 10th of Ramadan City.

8-Egypt, AngloGold Ashanti discuss new investments in Eastern Desert gold exploration

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi met in London with Managing Director and Vice Chair of the Sukari Gold Mines Hoda Mansour, to discuss further investment by AngloGold Ashanti in the country’s gold mining sector.

9-Petroleum Minister discusses financing cooperation for mining projects with Poynton Stavrianou

Egypt’s Minister of Petroleum and Mineral Resources Karim Badawi discussed cooperation with Poynton Stavrianou to help secure financing for mining projects during a meeting in Perth, Australia.

10-Telecom Egypt to fully repay debts within 4-5 years

Telecom Egypt expects to fully repay its debts within the next four to five years, according to a bourse statement.