Banks in Egypt record net profits of EGP 433.8bn in Q3 2025
In its latest report, the CBE said net interest income at banks reached EGP 766.842bn, while net operating income rose to around EGP 1.022trn. The Central Bank noted that the ten largest banks accounted for around 78.7% of total banking sector profits, recording approximately EGP 341.421bn. In September 2025, net interest income at the ten largest banks reached around EGP 590.878bn, while net operating income stood at EGP 814.564bn. For the five largest banks, net interest income reached approximately EGP 497.275bn, with net operating income of around EGP 705.852bn and total expenses of about EGP 417.666bn. Among the ten largest banks, the return on average equity recorded 39.1%, with return on average assets at 2.5% and a net interest margin of 5.7%.
Source:Daily News Egypt
December 27, 2025 18:08 UTC
Egyptian market awaits impact of 1% rate cut on savings returns, loans and debt instruments
The Egyptian market is awaiting banks’ return to business, Sunday, following the weekend break, to assess the impact of the Central Bank of Egypt’s (CBE) decision last Thursday to cut interest rates by 1% on returns from savings products and the cost of borrowing. In the first direct response to the decision, interest rates on variable-rate savings certificates and certain loan products linked to the CBE’s interest-rate corridor automatically declined by the same percentage as the cut approved by the central bank. Meanwhile, market participants are closely monitoring the implications of the rate cut for returns on local debt instruments scheduled to be offered by the government this week, as well as the potential impact on foreign investors’ appetite for Egyptian treasury securities. On Sunday, the Ministry of Finance is set to offer two Treasury bill auctions worth a combined EGP 60bn: EGP 20bn in 91-day bills and EGP 40bn in 273-day bills. On Monday, the ministry will offer two Treasury bond auctions worth EGP 37bn—EGP 14bn in two-year bonds and EGP 23bn in three-year bonds—alongside an auction of fixed-return sovereign sukuk worth EGP 5bn with a three-year maturity.
Source:Daily News Egypt
December 27, 2025 18:08 UTC
Netanyahu to meet Trump for Gaza Phase 2 talks amid US frustration over delays
Israeli Prime Minister Benjamin Netanyahu travels to Florida on Sunday for a summit with US President Donald Trump to discuss the second phase of a Gaza ceasefire, amid American frustration that the Israeli leader is slowing the peace process. Phase two of the ceasefire, which remains unsigned by Israel and Hamas, proposes a technocratic Palestinian government overseen by a Trump-led Peace Council. The plan includes an international security presence and the surrender of weapons by Hamas as Israeli troops withdraw. However, Netanyahu has expressed scepticism regarding the disarmament of Palestinian factions and disagreed with US envoys over the plan, according to Axios. While Israeli officials say Trump seeks to be remembered for rescuing hostages, they warned against him accepting a continued Hamas presence.
Source:Daily News Egypt
December 27, 2025 18:08 UTC
Egypt launches solar power plant in Djibouti, expanding renewable energy cooperation
“The solar power plant is more than a power generation project; it is a strategic pillar for improving quality of life, supporting local economic activities and promoting the use of renewable energy,” Al-Wazir said. Djibouti’s Minister of Energy and Natural Resources, Younis Ali Guedi, said the facility is the largest solar power plant completed in a rural area of the country. The Arab Organization for Industrialization carried out on-the-ground execution, while the Egyptian Agency for Partnership for Development provided primary funding and oversight as part of Egypt’s international development cooperation initiatives. The Omar Jagaa solar power plant forms part of a broader initiative to electrify remote rural areas in Djibouti and represents a key component of Egypt’s efforts to share renewable energy expertise with African partners. Al-Wazir said the project paves the way for further cooperation in green energy, local industrial development and technology transfer between Egypt and Djibouti, contributing to sustainable job creation and the development of human capital.
Source:Daily News Egypt
December 27, 2025 17:39 UTC
EGP 25bn project launched to supply electricity to one million feddans in West Minya Plain
Under the agreement, EPS will review technical designs and supervise tendering and implementation works for supplying electricity to the Egyptian Countryside Development Company’s lands in the West Minya Plain. The electricity extension project targets approximately one million feddans of land in the West Minya Plain, at an estimated total cost of EGP 25bn. The first phase, with a capacity of 100 megavolt-amperes (MVA), will cover the areas of South-West West Minya, the western extension of Minya, and West Manfalut and Al-Qusiya. The second phase will extend to Darb Al-Behnasawy, West Minya, and North-West West Minya. Upon completion of all phases, the project’s total capacity is expected to reach around 500 MVA, enabling electricity supply across the entire scope of the 1.5 Million Feddan Project lands in the West Minya Plain.
Source:Daily News Egypt
December 27, 2025 16:37 UTC
From shield to showcase: Egypt’s military envoys briefed on 2026 economic ‘turning point’
Following a series of rigorous fiscal and monetary reforms initiated in March 2024, the Egyptian government is projecting 2026 as a definitive turning point. The Private Sector PivotCentral to Al-Mashat’s briefing was the assertion that Egypt’s growth is no longer a state-funded monolith. Industrial growth has begun to feed into a surge in exports, while the tourism sector is on track to welcome nearly 19 million visitors this year. 430 specific measures covering tax reform, trade, and labor markets. covering tax reform, trade, and labor markets.
Source:Daily News Egypt
December 27, 2025 16:37 UTC
United Bank ranks seventh among top low-income housing financiers in November 2025
United Bank has risen to become the seventh-largest provider of mortgage finance under the low-income housing initiative, with a portfolio worth EGP 2.459bn, according to data released by the Social Housing and Mortgage Finance Fund as at the end of November 2025. The portfolio represents a 2.8% share of total mortgage financing directed to low- and middle-income housing, serving 33,890 beneficiaries nationwide. Fayad added that mortgage finance solutions represent a core focus of the Bank’s strategy. United Bank currently operates across 16 governorates and 12 new cities nationwide, continuously enhancing service quality in terms of speed and efficiency through the adoption of digital transformation tools. United Bank provides mortgage finance services in nine Upper Egypt governorates—Giza, Fayoum, Beni Suef, Minya, Assiut, Sohag, Qena, Luxor and Aswan—as well as four governorates in the Canal region: Port Said, Suez, Ismailia and the Red Sea.
Source:Daily News Egypt
December 27, 2025 16:24 UTC
1% interest-rate cut appropriate to sustain disinflation path: CBE
The Central Bank of Egypt (CBE) said a 1% cut in interest rates is appropriate to maintain a monetary policy stance that anchors inflation expectations and supports the continued downward trajectory of inflation. The MPC said the decision reflects its assessment of inflation developments and the inflation outlook since its previous meeting on 20 November. In global commodity markets, oil prices declined as global supply outpaced demand, while agricultural commodity prices recorded mixed movements. Domestically, the MPC said the CBE’s estimates point to real GDP growth of around 5% in the fourth quarter of 2025, compared with 5.3% in the third quarter. In 2026, inflation is expected to decline further and approach the Bank’s target by the fourth quarter of the year.
Source:Daily News Egypt
December 27, 2025 16:05 UTC
Why the UAE has set its sights on digital finance
With nearly 3 million users— around a third of its population — the United Arab Emirates has the world’s highest cryptocurrency adoption rate, by some estimates. But the Gulf nation doesn’t just want to buy digital currencies — it wants to become a crypto capital. “Our global users now have the assurance that we’re subject to the regulatory oversight of ADGM,” Binance CEO Richard Teng told CNN. Ronit Ghose, head of future of finance at Citi Global Insights. They talk about Bitcoin as ‘digital gold,’ but it’s not — it’s got nothing in common with gold,” said Schiff, who debated tokenized gold and stablecoins at Binance Blockchain Week with Changpeng Zhao, Binance’s co-founder and former CEO.
Source:Egypt Independent
December 27, 2025 15:14 UTC
Why has Israel recognized Somaliland? Experts explain
Israeli Prime Minister Benjamin Netanyahu on Friday officially announced the recognition of the self-proclaimed Republic of Somaliland, a region in the Horn of Africa. Experts warn that the recognition sets a dangerous precedent and lacks international legitimacy. Pressuring EgyptAfrican affairs expert Attia Essawy, said that Israel’s recognition of Somaliland as an independent state sets a a dangerous precedent. He interpreted the recognition as an attempt at pressuring Egypt through neighboring countries and softening its stance on Gaza. Marai noted the strategic cooperation between Ethiopia and Israel in the Red Sea, which Egypt has objected to.
Source:Egypt Independent
December 27, 2025 15:14 UTC
Egypt leads regional condemnation of Israel’s recognition of breakaway Somaliland
Egypt has issued a formal condemnation of Israel’s unilateral recognition of the breakaway region of Somaliland, warning that the move constitutes a flagrant violation of international law and threatens the stability of the Horn of Africa. Egypt reiterated its full support for the unity and sovereignty of the Somali state, rejecting any attempts to establish “parallel entities” that contradict international legitimacy. During the discussion, both ministers expressed their complete rejection of Israel’s recognition of the “so-called Somaliland,” affirming their joint support for a unified Somalia. The ministers collectively denounced Israel’s move as a “dangerous precedent” and a threat to the established principles of the UN Charter. Israeli Prime Minister Benjamin Netanyahu and Somaliland President Abdirahman Mohamed Abdullahi signed a joint declaration establishing full diplomatic relations.
Source:Daily News Egypt
December 27, 2025 14:35 UTC
Fake website selling tickets to Grand Egyptian Museum taken down: Tourism Ministry
The Ministry of Tourism and Antiquities announced on Thursday the closure of a fraudulent website claiming to sell tickets to the Grand Egyptian Museum (GEM). In a statement, the ministry explained that as soon as the museum’s administration became aware of the website, all necessary legal measures were taken. Only one official websiteThe CEO of the GEM, Ahmed Ghoneim, stated that the only official and authorized website for purchasing tickets to the museum is visit-gem.com. No other websites are authorized or accredited to sell tickets or provide booking services, he stressed. The museum administration emphasized its ongoing monitoring of the internet to identify any unauthorized websites claiming to be affiliated with the museum and to take legal action against them, such as taking them down.
Source:Egypt Independent
December 27, 2025 14:27 UTC
Egyptian, Norwegian FMs call for Gaza ceasefire stability, transition to Trump plan phase two
Egypt’s Foreign Minister Badr Abdelatty emphasised the need for international efforts to stabilise the Gaza ceasefire and transition to the second phase of the “Trump plan” during a phone call with Norwegian Foreign Minister Espen Barth Eide on Saturday. The Egyptian minister condemned continued settlement expansion and called on the international community to stop the escalation and attacks by settlers against Palestinian civilians. On the situation in Sudan, Abdelatty briefed his Norwegian counterpart on Egyptian efforts within the “Quad Mechanism” to reach a comprehensive ceasefire. Regarding the Horn of Africa, the Egyptian minister expressed full support for the unity and sovereignty of Somalia. Both ministers agreed on the importance of respecting state sovereignty to maintain international stability.
Source:Daily News Egypt
December 27, 2025 14:22 UTC
Egyptian businessman proposes idea to solve nation’s domestic debt crisis
Egyptian businessman Hassan Heikal on Thursday proposed a “grand swap” as a solution to Egypt’s domestic debt woes. He explained that this solution involves transferring state investments to the sovereign wealth fund, with the state owning approximately 70 percent of it. This amount would then be deducted from the state’s outstanding public debt. Heikal explained that this swap would ease the government’s interest burden by transferring debt from commercial banks to the CBE, without impacting the banks’ financial health. The CBE should not be ‘distracted’Economist Khaled Saqr, a former head of a mission at the International Monetary Fund, responded to Heikal’s proposal.
Source:Egypt Independent
December 27, 2025 10:51 UTC
Eight killed in Syria mosque explosion during Friday prayers
At least eight people were killed and 18 others injured in an explosion targeting a mosque in the Syrian city of Homs on Friday, the country’s health ministry said. The state news agency SANA reported that “explosive devices” had been planted in the Imam Ali Ibn Abi Taleb mosque to target worshippers attending Friday prayers. Videos published by the state news agency showed heavy damage to the interior of the mosque and debris strewn across the floor. Security units established a cordon around the mosque while the authorities began investigating and collecting evidence into the incident, the interior ministry said. Survivors of the explosion described scenes of chaos as the blast rocked the mosque as people gathered for Friday prayers.
Source:Egypt Independent
December 27, 2025 10:51 UTC