Arab Finance: The second week of April witnessed a handful of economic developments in the Egyptian market, including the announcement of expansion plans in the energy sector and priorities of the fiscal year (FY) 2026/2027 budget.

Here’s a list of the top 10 trending news stories of the week ended April 16th:

1- Egypt begins temporary listing of 10 petroleum companies on EGX

Egypt’s Prime Minister Mostafa Madbouly chaired a meeting to review the Ministry of Petroleum and Mineral Resources’ plan to list a number of state-owned companies on the Egyptian Exchange (EGX), with procedures now underway to temporarily list 10 petroleum sector firms.

2- Egypt ranks 3rd in MENA for investment openness: Fitch

Egypt ranks third among 18 markets in the Middle East and North Africa (MENA) region and 27th globally out of 202 markets in terms of investment openness, according to a report by Fitch Ratings reviewed by the Cabinet’s Information and Decision Support Center (IDSC).

3- S&P affirms Egypt at ‘B/B’ with stable outlook

S&P Global Ratings has affirmed Egypt’s sovereign credit rating at ‘B/B’ with a stable outlook, citing a balance between the country’s medium-term growth prospects and reform efforts against rising risks linked to a prolonged regional conflict.

4- Egypt prioritizes health, education in FY2026/2027 budget with increased spending, tax reforms

Egypt’s fiscal year (FY) 2026/2027 budget prioritizes, health, and education spending alongside tax reforms and private sector support, as the government targets improved public services and economic growth, according to the Ministry of Finance.

5- Egypt signs deal to import full output from Cyprus’ Aphrodite gas field

Egypt has agreed to purchase the full production of natural gas from Cyprus’ Aphrodite field under a new set of agreements aimed at strengthening supply and supporting exports.

6- PetroGulf increases Gulf of Suez production to 26,600 barrels per day

Egypt’s Ministry of Petroleum and Mineral Resources announced that PetroGulf has increased its production from fields in the Gulf of Suez to approximately 26,600 barrels per day, marking the highest level since the company’s establishment in 1982.

7- EBRD extends $65M loan to HAU Energy for solar, battery project in Benban

The European Bank for Reconstruction and Development (EBRD) has extended a $65 million construction bridging loan to HAU Energy to support the development of a renewable energy project in Benban, Aswan.

8- Egypt in talks with TotalEnergies on Herodotus Basin gas exploration

Minister of Petroleum and Mineral Resources Karim Badawi held talks with a delegation from TotalEnergies on expanding investments in natural gas exploration in Egypt's Western Mediterranean, with a focus on the Herodotus Basin.

9- Hyde Park Developments launches new phase at Seashore project in Ras El Hekma

Real estate developer Hyde Park Developments has launched the “Shore Residences” phase within its Seashore project in Ras El Hekma, marking a step in its expansion across Egypt’s North Coast.

10- Visa discusses Egypt's 1st AI-powered TradeTech Sandbox

Egypt’s Minister of Investment and Foreign Trade Mohamed Farid Saleh held talks with executives from Visa in Washington, D.C., to expand the company’s investments in Egypt and explore the establishment of the country’s first TradeTech Sandbox aimed at enhancing exports through artificial intelligence technologies.