Israel’s march of destruction continues across Gaza, further violating ceasefire
As complexities pile up in Gaza’s political sphere and on the ground, attention has shifted to the transfer of administration in the Gaza Strip. Meanwhile, Israel continues violating the Gaza ceasefire, with numerous Palestinians being killed alongside an unprecedented escalation in settlement activity and settler attacks on Palestinian property in Jerusalem and the West Bank. Israel’s destruction continuesIsraeli gunfire from armored vehicles and drones, along with artillery shelling, resulted in injuries in Khan Younis in the south and in Nuseirat in central Gaza Strip. Daily demolition operations targeting infrastructure and homes in areas on both sides of the “yellow line” continued in various parts of Gaza. The Gaza Health Ministry said on Saturday that two bodies were recovered and 15 wounded people were admitted to Gaza Strip hospitals in the past 48 hours.
Source:Egypt Independent
February 15, 2026 08:58 UTC
Egypt stresses importance of implementing 2nd phase of Trump plan in Gaza
Egyptian Foreign Minister Badr Abdelatty on Saturday met with Palestinian Prime Minister Mohammad Mostafa to discuss the latest developments in Palestinian territories and ways to implement the second phase of US President Donald Trump’s Gaza plan. During the meeting, held on the sidelines of the African Union Summit in Addis Ababa in Ethiopia, Abdelatty stressed the importance of fully implementing the second phase of the plan. Abdelatty rejected any attempts to separate the Gaza Strip from the West Bank or to undermine Gaza’s unity. They further discussed developments in the Gaza Strip and emphasized the necessity of implementing the requirements for the second phase of Trump’s plan. It will pave the way for the committee to fully assume its responsibilities during the transitional phase, the statement said.
Source:Egypt Independent
February 15, 2026 08:57 UTC
2026 to mark pivotal year for SAIB Bank: CEO Naguib
Afdal Naguib, Chief Executive Officer and Managing Director of SAIB Bank, said 2026 will represent a pivotal and transformative year for the bank as it prepares to finalise and launch its new five-year strategy covering 2026-2030. At the same time, SAIB Bank continued to upgrade the customer experience through integrated and advanced banking solutions tailored to the evolving needs of both individuals and corporate clients. Parallel to this expansion, SAIB Bank increased its investment in electronic channels, particularly by expanding its ATM network to enhance customer accessibility and service speed. Artificial intelligence in credit and fraud monitoringAs part of its forward-looking approach, SAIB Bank intends to expand the use of artificial intelligence in key operational areas. SAIB Bank maintained full compliance with regulatory standards and instructions issued by the Central Bank of Egypt.
Source:Daily News Egypt
February 15, 2026 05:52 UTC
IDB targets broad-based expansion in 2026 following transformational year: CEO Refaie
The bank aims to provide integrated banking services, offer innovative financial solutions and support national development in line with Egypt Vision 2030. By the end of September 2025, IDB recorded pre-tax profits of EGP 1.3bn. These measures ensured sustainable growth and restored the bank’s standing as a competitive national banking institution. At The Global Economics Awards 2025, IDB won two international awards recognising its role in empowering SMEs and strengthening industrial finance. Refaie himself was named “Best Transformational CEO in Banking – Africa 2025” by International Business Magazine, acknowledging his leadership in institutional restructuring and strategic reform.
Source:Daily News Egypt
February 15, 2026 05:52 UTC
HDB’s 2025-2030 strategy: Strong financial performance, digital transformation, and sustainable growth: Ghanem
In this context, the Bank continued to deliver strong financial and operational performance during 2025, driven by the effective execution of its new strategic pillars. This performance was enabled by the Bank’s institutional resilience, optimal resource utilisation, and strong financial position. Ghanem explained that these pillars have allowed HDB to deliver robust financial outcomes and maximise value for all stakeholders through the execution of ambitious plans and strategies focused on continuous development and steady, sustainable growth. This constitutes the first phase of the Bank’s 2025-2030 strategy and builds on the success achieved in previous years. By fully leveraging available opportunities and managing resources effectively to sustainably increase profitability, HDB delivered notable improvements in financial performance.
Source:Daily News Egypt
February 15, 2026 05:52 UTC
CBE opens 2026 with 100bps rate cut, lowers reserve requirement
The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE) opened 2026 by cutting key interest rates by 100 basis points and reducing the required reserve ratio (RRR) for commercial banks by two percentage points. Global backdrop remains cautiousThe Committee noted that global economic growth continues to recover, supported by relatively favourable financial conditions. According to the committee, the decline in non-food inflation reflects recent exchange rate improvements, subdued demand under restrictive monetary policy, and better-anchored inflation expectations. The reserve ratio cut, it added, aims to preserve the effectiveness of monetary policy transmission to financial markets and the broader economy by managing liquidity conditions within the banking system. The committee affirmed that future decisions regarding the pace of monetary easing will remain data-driven, guided by forecasts, evolving risks, and incoming economic indicators.
Source:Daily News Egypt
February 15, 2026 05:52 UTC
Record 2025 results, digital leap drive Suez Canal Bank’s growth: CEO El-Maghraby
Corporate finance momentum and sector-focused lendingA key driver of the bank’s growth in 2025 was the significant expansion of its corporate finance activities. These transactions reinforced Suez Canal Bank’s position as a key player in structuring and arranging large-scale financing solutions. During the year, Suez Canal Bank launched a modern mobile banking application offering a seamless, secure and user-friendly experience. The bank participated in sponsoring the Central Bank’s NilePreneurs initiative, and 51 start-ups have graduated from Suez Canal Bank’s business incubator, reflecting its commitment to fostering innovation and job creation. El-Maghraby concluded that Suez Canal Bank’s 2025 performance reflects a balanced model that integrates financial strength, digital innovation, sectoral diversification, sustainability and social responsibility, positioning the bank for continued growth and deeper impact in the Egyptian market.
Source:Daily News Egypt
February 15, 2026 05:32 UTC
2026: A defining year in Egypt’s shift toward sustainable, production-led growth
Real GDP growth is projected to range between 4.3% and 4.8% in 2026, signalling a transition from recovery-driven expansion to production-led growth. According to estimates by the Central Bank of Egypt, average annual inflation is expected to ease to around 10.5% in 2026. The industrial sector is poised to become a primary engine of growth in 2026. Fiscal policy in 2026 is characterised by a careful balancing act: containing public spending, enhancing revenue mobilisation, and sustaining growth momentum. In this context, 2026 can be described as a year of economic rebalancing for Egypt – a transition from shock absorption to sustainable growth anchored in production and investment.
Source:Daily News Egypt
February 15, 2026 05:32 UTC
Financial institutions upgrade Egypt’s 2026 outlook on EGP, inflation, and growth
International and domestic financial institutions have revised upward their projections for several key Egyptian economic indicators in 2026, most notably the US dollar-Egyptian pound exchange rate, inflation, and economic growth. The new expected trading range for 2026 now stands between EGP 45 and EGP 49 per dollar, compared with earlier forecasts of EGP 48 to EGP 51. Standard Chartered raised its year-end forecast for the pound to EGP 49 per dollar, from EGP 51 previously. Meanwhile, Al Ahly Pharos projected that the average exchange rate could improve to around EGP 46 in 2026, potentially reaching EGP 45 by year-end. According to S&P, the disinflation process remains constrained by ongoing price pressures in non-food categories and is still vulnerable to domestic and external risks.
Source:Daily News Egypt
February 15, 2026 05:32 UTC
ADIB-Egypt leads Islamic banking market in 2025, reports EGP 12.6bn in net profit
Total assets increased by EGP 87bn, up 33%, reaching EGP 347bn compared to EGP 260.5bn in 2024. Customer deposits rose by EGP 78bn, up 39%, to EGP 278bn, compared to EGP 200bn the previous year. Consolidated net profit after tax reached EGP 12.6bn, compared to EGP 9.02bn in 2024, representing an increase of EGP 3.6bn, or 40%. These accolades reaffirmed its standing as Egypt’s leading Islamic bank and reflected consistent execution and market leadership. For the eighth consecutive year, the bank was named Best Islamic Bank in Egypt by Global Finance magazine.
Source:Daily News Egypt
February 15, 2026 05:32 UTC
Futures contracts: Diversifying financial instruments and building a competitive, transparent market
In a later phase, the market will expand further to include options contracts on both indices and individual equities. Derivatives markets require not only trading platforms but also clearing mechanisms, margin systems, settlement guarantees, and strong supervisory oversight. In markets characterised by volatility — as is often the case in emerging economies — futures contracts can stabilise expectations. Because futures markets incorporate expectations about future economic conditions, they often act as leading indicators for spot markets. If executed with discipline and foresight, Egypt’s derivatives market can become a cornerstone of a more diversified, competitive, and transparent financial ecosystem.
Source:Daily News Egypt
February 15, 2026 05:32 UTC
We remain at centre of Egypt’s most significant transactions across multiple fronts: HSBC Egypt CEO
In this exclusive interview with Daily News Egypt, Todd Wilcox, CEO and Deputy Chairperson of HSBC Bank Egypt, discusses the bank’s instrumental role in navigating Egypt’s evolving economic landscape. We were mandated in 2025 for the ninth consecutive sovereign bond issuance in Egypt, having led all public debt issuances since 2020. We are the first and only bank in Egypt to provide our corporate and institutional clients from China with on-the-ground, native Mandarin-speaking relationship managers. At HSBC, we’ve taken a very active role in bridging the gap between potential international investors and key government stakeholders. What’s equally impressive is Egypt’s progress toward becoming a global digital and data hub.
Source:Daily News Egypt
February 15, 2026 05:06 UTC
Japanese firms explore expansion in Egypt’s infrastructure sector after Cairo forum
Japanese companies are looking to expand their footprint in Egypt’s infrastructure sector following high-level discussions at the first Egyptian-Japanese Dialogue Forum on Infrastructure Quality, held in Cairo. The forum was organised by the Egypt-Japan Business Council in cooperation with Japan’s Ministry of Land, Infrastructure, Transport and Tourism and the Japan Africa Infrastructure Quality Center, with senior officials and business leaders from both countries in attendance. According to Ibrahim Elaraby, approximately 150 Egyptian and Japanese representatives took part in the forum, including around 70 Japanese business executives who accompanied the official delegation. On the sidelines of the forum, officials toured the Cairo Metro and the Bashteel Upper Egypt Railway Station. Kawamura praised the operational efficiency and quality of Egypt’s infrastructure projects, reaffirming Japan’s commitment to deepening cooperation and expressing interest in returning to ride the upcoming Japanese-technology Cairo Metro Line 4.
Source:Daily News Egypt
February 14, 2026 18:27 UTC
Egypt reaffirms commitment to African stability at AU summit: FM Abdelatty
Egypt’s Foreign Minister Badr Abdelatty underscored Cairo’s commitment to advancing peace and stability across the continent as he presented the annual report of the African Union Peace and Security Council during the African Union summit in Addis Ababa. Addressing African leaders gathered to discuss conflicts, climate finance and economic development, Abdelatty conveyed greetings from President Abdel Fattah Al-Sisi, who currently chairs the Peace and Security Council for the month. On the sidelines of the summit, Abdelatty met Mafalda Duarte, Executive Director of the Green Climate Fund, to discuss expanding African access to climate finance. In separate meetings with the African Export-Import Bank, the African Development Bank and the African Union Development Agency, Abdelatty emphasized accelerating continental economic integration, boosting intra-African trade under the African Continental Free Trade Area and expanding partnerships to support investment, infrastructure development and private sector growth. Opening the session, Mahmoud Ali Youssouf, Chair of the African Union Commission, called for an end to what he described as the killing of Palestinians, saying the situation in Palestine challenges the global conscience.
Source:Daily News Egypt
February 14, 2026 17:51 UTC
Al-Sisi orders social support package ahead of Ramadan, reviews fiscal reform agenda
Egypt will roll out a new social support package this week to assist vulnerable and low-income groups ahead of the high-demand Ramadan season, the Egyptian Presidency announced on Saturday. During a meeting with Prime Minister Mostafa Madbouly and Finance Minister Ahmed Kouchouk, President Abdel Fattah Al-Sisi directed the government to begin implementing the proposed measures, primarily in the form of direct cash support. In response to rising prices, the government had earlier announced plans to import frozen chicken and sell it at discounted rates. According to the Presidency, the new social package is designed to shield lower-income households from seasonal price pressures during Ramadan. Discussions further covered proposed income increases for state employees, tax facilitation and reform measures for the 2026-2027 fiscal year, and customs adjustments aimed at supporting domestic industry, encouraging investment and curbing smuggling.
Source:Daily News Egypt
February 14, 2026 16:52 UTC