Arab Finance: The first week of August witnessed major transactions and updates in the economic sector, led by Emirates NBD Egypt’s deal to take over HSBC Bank Egypt.
Here’s a list of the top 10 news stories to check this week:
1-Egypt's non-oil private sector remains in contraction despite July PMI uptick to 46.8
Egypt’s non-oil private sector contracted for the seventh consecutive month in July 2026, although the headline Purchasing Managers’ Index (PMI) rose to 46.8 from a 41-month low of 46.0 in June, according to the latest report by S&P Global.
2-Emirates NBD Egypt to acquire HSBC Egypt's retail banking business
Emirates NBD Egypt has signed definitive agreements to acquire the retail banking operations of HSBC Bank Egypt, expanding its presence in one of the group's core regional markets.
3-Egypt's net foreign assets rise to EGP 1.378T end-June 2026: CBE
Net foreign assets (NFAs) of Egypt’s banking sector hit EGP 1.1378 trillion at the end of June 2026, an annual climb from EGP 741.834 billion, according to the Central Bank of Egypt (CBE) data.
4-Egypt reviews proposals to transfer ownership of state-owned holding companies
Prime Minister Mostafa Madbouly reviewed proposals to transfer ownership of several state-owned holding companies and their subsidiaries as part of the implementation of Egypt's second State Ownership Policy Document 2026-2030.
5-Egypt’s NIR hit record $56.29B in July: CBE
Egypt’s net international reserves (NIR) rose to a record $56.29 billion at the end of July 2026, exceeding $56 billion for the first time, as per the Central Bank of Egypt (CBE) data.
6-Sukari Gold Mine produces 232,000 ounces in H1 2026
The Sukari Gold Mine, a joint venture between Denver-based gold producer AngloGold Ashanti plc and Egypt, produced 232,000 ounces of gold during the first half (H1) of 2026, keeping the operation on track to meet its full-year production target of 500,000 ounces and match the record output achieved in 2025.
7-FRA grants approvals to 4 companies for non-banking financial activities
The Financial Regulatory Authority (FRA) has granted approvals to four companies for practicing non-banking financial activities.
8-Maridive permits due diligence on Arab Energy Fund's non-binding stake offer
The board of Maridive and Oil Services has agreed to enable the Arab Energy Fund to conduct due diligence after receiving a non-binding offer to acquire a 20% stake in the offshore services provider.
9-PRE Group wins bid to develop EGP 94B mixed-use project in New Zayed City
PRE Group announced that one of its subsidiaries has won a bid to develop an integrated urban project in a prime location in New Zayed City, west of Cairo.
10-Misr El-Gedida expects EGP 250B in revenues from New Heliopolis partnerships
Misr El-Gedida expects to generate more than EGP 250 billion in revenue over the coming years from its strategic partnership portfolio in New Heliopolis City, Managing Director and CEO Sameh El Sayed announced.
