Arab Finance: The first week of March brought further reassurances for Egypt’s economy, as officials confirmed the uninterrupted flow of navigation through the Suez Canal despite regional tensions and stressed that any potential closure of the Strait of Hormuz would not threaten the country’s energy supplies.
1-Navigation through Suez Canal uninterrupted amid regional unrest: Rabie
Osama Rabie, Chairman of the Suez Canal Authority (SCA), confirmed that navigation through the Suez Canal is operating normally in both directions despite regional tensions.
2-Strait of Hormuz closure poses no threat to Egypt's energy supplies: Badawi
Egypt will not be affected by the closure of the Strait of Hormuz.
3-Egypt's non-oil private business activity falls in February as PMI slips to 48.9
Egypt’s non-oil private sector returned to contraction in February after four months of improvement, as weaker demand and rising cost pressures weighed on business activity.
4-Egypt to adopt flexible exchange rate amid regional tensions: Madbouly
The Egyptian government has decided to adopt a flexible exchange rate system as part of its economic reform agenda, ensuring the currency’s value reflects market supply and demand.
5-Egyptian government to announce new minimum wage by end-March
Prime Minister Mostafa Madbouly revealed that the new minimum wage is likely to be announced along with the state budget, scheduled for release at the end of March 2026.
6-Egypt’s NIR reaches $52.745B end-February: CBE
Egypt's net international reserves (NIR) jumped to $52.745 billion at the end of February 2026.
7-EBRD backs aluminium manufacturing in Egypt via €13.7M loan to Alumil Misr
The European Bank for Reconstruction and Development (EBRD) is providing a €13.7 million loan to Alumil Misr for Trade & Industry SAE, the Egyptian subsidiary of Alumil SA.
8-Adidas' supervisory board to propose Nassef Sawiris as chairman
The Supervisory Board of adidas AG agreed to propose the election of Egyptian magnate Nassef Sawiris as Chairman of the Supervisory Board for a three-year term, succeeding Thomas Rabe.
9-TSFE seeks underwriters for Misr Life Insurance's 20% stake offering
The Sovereign Fund of Egypt (TSFE) invited investment banks and specialized financial institutions to submit their technical and financial proposals to act as the underwriter for the offering of up to 20% of Misr Life Insurance Company's shares.
10-KIMA targets EGP 1.5B in profits for FY2026/27
Egyptian Chemical Industries' (KIMA) board of directors has approved the company’s estimated budget for the fiscal year (FY) 2026/2027, targeting a net profit of EGP 1.505 billion.
