Arab Finance: The final week of March closed with several notable developments. The Egyptian Cabinet approved an increase in the minimum wage by EGP 1,000, while the Ministry of Transport implemented price hikes on train tickets and selected metro fares.
Between March 29th and April 2nd, these were the top 10 news stories that went viral:
1-Egypt to temporarily list 20 state-owned companies on EGX by end-April
The Egyptian government plans to temporarily list 20 companies affiliated with the Ministry of Public Business Sector on the Egyptian Exchange (EGX) by the end of April.
2-Egypt raises minimum wage to EGP 8,000 as of July 1st
The Egyptian Cabinet decided to increase the minimum wage by EGP 1,000 to EGP 8,000 monthly, commencing from July 1st
3-Egypt raises train, metro ticket prices amid global oil crisis
The Ministry of Transport decided to raise prices of train tickets and certain metro fares as of March 27th
4-Egypt imposes 3-year safeguard duties on billet, flat steel imports
Minister of Investment and Foreign Trade Mohamed Farid issued a decree imposing safeguard measures on imports of certain steel products for three years, effective April 1st
5-Egypt, Cyprus sign framework deal at EGYPES to deepen natural gas cooperation
Egypt and Cyprus signed a framework agreement to boost natural gas cooperation on the sidelines of the ninth edition of the Egypt Energy Show 2026 (EGYPES) that kicked off on March 30th in Cairo
6-Cabinet extends closing-hour policy during Coptic holidays
The Egyptian Cabinet approved extended closing hours for public shops, malls, and restaurants from April 10th to 13th during the Coptic holidays
7-bp to invest $1.5B in Egypt natural gas exploration in FY 2026/27
British company bp plans to inject new investments estimated at $1.5 billion in Egypt's natural gas exploration and development during fiscal year (FY) 2026/2027
8-Egypt signs Chevron deal to fast-track Cyprus Aphrodite gas to its infrastructure
The Ministry of Petroleum and Mineral Resources inked an agreement with Chevron to accelerate the development and production of natural gas from the Cypriot Aphrodite field and link it to Egyptian infrastructure.
9-FRA grants 10 companies license to operate in non-banking financial activities
Islam Azzam, the Chairman of the Financial Regulatory Authority (FRA), approved granting licenses to 10 companies in non-banking financial activities to conduct a number of activities under the authority's supervision.
10-Lime partners with Cippo Egypt to expand access to education financing in Egypt
Lime Consumer Finance has signed a partnership with Cippo Egypt, a child development organization, to expand access to education services across the country.
