Statement issued by the Ministry of Labor:

To unify official holiday dates for all employees across various government sectors...

Minister of Labor: Eid al-Adha holiday for private sector employees from May 26 to May 31, 2026

- The Minister directs the publication and implementation of Eid al-Adha holiday regulations at work and production sites...

Mr. Hassan Radad, Minister of Labor, announced today that the period from Tuesday, May 26, 2026, to Sunday, May 31, 2026, is an official paid holiday for employees covered by the provisions of the Labor Law issued by Law No. 14 of 2025, on the occasion of Eid al-Adha.

The Minister explained that this comes in implementation of Article (129) of the Labor Law, and in light of Prime Ministerial Decree No. (1516) of 2026, which designates this period as an official paid holiday for employees in ministries, government departments, public authorities, local government units, public sector companies, and public business sector companies, while examinations – if any – will continue according to the schedule set by the competent authority.

The Minister emphasized the commitment to standardizing official holiday dates for all employees across various government sectors, whenever possible, to achieve the social and national objectives of official holidays and celebrations. He noted that if work circumstances require an employee to work on these days, the employee is entitled – in addition to their regular pay for those days – to double their pay, or to be granted another day off in lieu of work, upon a written request submitted in their personnel file.

The Minister of Labor directed the heads of the central departments at the Ministry's headquarters and the directors of labor directorates in the governorates to ensure the dissemination of the provisions of the circular issued in this regard to workplaces and production sites, to implement it accordingly, and to emphasize the importance of its enforcement.

The Monetary Policy Committee (MPC) of the Central Bank of Egypt (CBE)
has decided to keep its key policy rates unchanged. The overnight deposit rate, overnight lending rate, and the rate of the main operation remain at 19.00 percent, 20.00 percent, and 19.50 percent, respectively. The discount rate was also maintained at 19.50 percent. This decision reflects the Committee’s assessment of prevailing and forecasted inflation dynamics amid an unfavorable external environment.
Globally, economic activity continues to grow, albeit at a modest pace due to ongoing geopolitical tensions, persistent trade policy uncertainty, and subdued demand conditions. Regarding inflation,
recent upticks have prompted central banks to maintain a cautious policy stance. Within commodity markets, energy prices witnessed heightened volatility, with Brent crude and natural gas rising sharply amid geopolitical tensions affecting energy supply routes. Meanwhile,agricultural commodity prices experienced upward pressures, partly reflecting higher fertilizer costs linked to rising gas prices, as well as elevated trade-related risk premiums. Against this backdrop, the global outlook remains subject to risks, particularly from heightened geopolitical tensions, supply-chain disruptions, and adverse shifts in trade policies.
Domestically, real GDP growth moderated to 5.0 percent in Q1 2026 from 5.3 percent in Q4 2025.
A further slowdown in economic activity is also expected in Q2 2026, driven by the repercussions of the ongoing conflict in the region. As such, the CBE projects real GDP growth to reach around 5.0 percent in FY 2025/26, with economic activity remaining below potential, although expected to converge toward full capacity by H1 2027. Accordingly, the current output gap trajectory indicates that demand-side inflationary pressures are expected to remain limited over the short term, given the prevailing monetary stance over the forecast horizon. Regarding the labor market,
the unemployment rate registered 6.0 percent in Q1 2026 from 6.2 percent in the previous quarter.
Inflation outturns in April 2026 reflected a modest deceleration, with annual headline inflation easing to 14.9 percent from 15.2 percent in March 2026, and annual core inflation declining to 13.8 percent from 14.0 percent over the same period. On a monthly basis, headline inflation
decelerated, driven primarily by a significant decline in food inflation that reversed the seasonal increase in the previous month. The moderation extended to non-food inflation, suggesting that the pass-through from the March 2026 energy price adjustments was transitory, thereby preventing broader inflationary spillovers

Youm7-

The Monetary Policy Committee of the Central Bank of Egypt(CBE) decided at the end of its meeting today, Thursday, to maintain the overnight deposit and lending rates at 19% and 20%, respectively.

The Central Bank uses interest rates as a tool to control inflation—that is, rising prices of goods and services—by lowering interest rates when inflation declines or raising interest rates when the rate of price increases rises.

In its extraordinary meeting on March 6, 2024, the Monetary Policy Committee decided to raise the overnight deposit and lending rates and the Central Bank's main operation rate by 600 basis points to 27.25%, 28.25%, and 27.75%, respectively. The discount rate was also raised by 600 basis points to 27.75%.

As part of his participation as a guest of honor at the 5th Russian Grain Forum, held in Sochi from May 20-23, 2026, under the theme “The Grain Sector in the Age of Artificial Intelligence: Productivity, Technology, and Exports,” Dr. Sherif Farouk, Minister of Supply and Internal Trade, met with Mr. Kirill Popov, CEO of the National Commodity Exchange (NAMEX), on the sidelines of the forum. The forum was held at the official invitation of Ms. Oksana Lut, Minister of Agriculture of the Russian Federation.

The meeting was also attended by Ambassador Hamdi Shaaban, Ambassador of the Arab Republic of Egypt to the Russian Federation, and Mr. Ahmed Shawky, Commercial Minister Plenipotentiary and Head of the Egyptian Economic and Trade Office in Russia.

The meeting focused on ways to enhance integration between the Egyptian and Russian commodity exchanges, given the distinguished strategic relations between the two countries. NAMEX is the exchange authorized by the Russian Ministry of Agriculture to regulate the trading of grain and agricultural products and plays a pivotal role in developing organized and transparent trading mechanisms in the Russian market. During the meeting, the Minister of Supply emphasized that activating cooperation with the Russian National Commodity Exchange represents a pivotal step in the Egyptian government's efforts to transform its ports into regional logistics hubs for grain storage and trading. He noted that the Egyptian Commodity Exchange serves as a strategic tool for regulating markets, enhancing transparency, and eliminating intermediaries and monopolies, which will positively impact price stability and secure strategic reserves of essential commodities.

For his part, Mr. Kirill Popov expressed his eagerness to strengthen cooperation with Egypt, praising the robust Egyptian-Russian economic relations in the grain trade sector, given that Egypt is one of the most important export destinations for Russian grain. Both sides stressed the importance of continued discussions and coordination at the technical and technological levels between specialists from the Egyptian and Russian commodity exchanges. The meeting also addressed mechanisms for exchanging information and technical and technological expertise in the field of digitizing trading operations, and leveraging Russia's advanced experience in this area, particularly the "Unified Order Book" project that the Russian Exchange intends to launch in the port of Novorossiysk this year. Discussions also focused on cooperation mechanisms for establishing a grain exchange within the BRICS framework, considered a promising platform for developing intra-regional trade in strategic food commodities.

This meeting reflects the Ministry of Supply and Internal Trade's commitment to strengthening strategic partnerships with international financial and commodity institutions and diversifying mechanisms for trading essential commodities, thereby supporting the state's efforts to achieve food security and enhance the efficiency of the domestic trade system.

Both sides also agreed to continue discussions regarding the signing of a memorandum of understanding and joint cooperation between the Egyptian Commodity Exchange and the Russian National Commodity Exchange, which will contribute to activating aspects of joint cooperation and exchanging technical and technological expertise in the coming period.

As part of the coordination with the Future of Egypt for Sustainable Development Authority, the Media Center of the Cabinet published a series of infographics on its official social media platforms highlighting the “New Delta” project, which aims to double production and support the path toward comprehensive development.

In this context, the “New Delta” project is not merely an expansion of agricultural land; rather, it represents an integrated development vision aimed at establishing a productive community that combines agricultural, industrial, and logistics activities, alongside the development of new urban communities attractive to residents. The project is supported by advanced infrastructure and modern irrigation systems. It also seeks to integrate with the old agricultural lands in the Nile Delta, thereby increasing productivity rates and contributing to food security.

The project comes amid challenges related to the decline of old agricultural land due to encroachments during previous periods, population growth, and limited water resources. These challenges prompted the adoption of comprehensive development interventions aimed at expanding agricultural land and maximizing local production to achieve food security. During its implementation phases, the project faced major challenges, which were overcome through the combined efforts of various state entities and the active participation of the private sector, contributing to the application of the latest agricultural methods and improving production efficiency.

The project reflects the state’s direction toward enhancing food security by increasing the production of strategic crops, reducing the import gap, supporting agro-industrial manufacturing, maximizing added value, and creating numerous job opportunities, all of which drive comprehensive and sustainable development.

The infographics indicated that the “New Delta” is a strategic project aimed at building an integrated productive community and serves as a model for linking agriculture, urban development, and industry. It is considered the largest integrated agricultural development project in modern Egyptian history, extending over an area of 2.2 million feddans, with total project and infrastructure costs amounting to approximately EGP 800 billion.

The infographics explained that the project stretches across strategic corridors connecting the governorates of Matrouh, Beheira, Giza, and Fayoum. Several vital routes pass through it, including the Rod El Farag Axis, Tahya Misr Axis, and the Regional Ring Road, in addition to its proximity to Alamein Road, the dry port in 6th of October City, as well as Sphinx Road and Sphinx International Airport.

The infographics emphasized that the project represents a comprehensive development framework aimed at enhancing food security and attracting investment through expanding agricultural land, establishing new urban and productive communities, and improving the efficiency of water and energy use.

The project enjoys integrated infrastructure designed to create an attractive environment for living and investment. It relies on a massive water system based on three main sources: approximately 10 million cubic meters of surface water daily, 7.5 million cubic meters daily of treated agricultural drainage water — through the New Delta Water Treatment Plant, the world’s largest water treatment facility according to Guinness World Records — in addition to groundwater usage in accordance with sustainability regulations.

Regarding the challenge of providing water for the project, the infographics clarified that the transfer of collected water required reversing the natural geographical slope of the land, an achievement that defied the natural flow path of the water. This necessitated the construction of 28 main pumping stations to secure water delivery, in addition to establishing and lining the northern and eastern routes, each extending 150 kilometers.

As for the electrical infrastructure and road network, the infographics showed that the Ministry of Electricity and Renewable Energy implemented 18 power stations to supply the project, while roads totaling 12,000 kilometers were constructed to serve the project.

The infographics also noted that the “New Delta” represents an important step toward building sustainable economic value through agricultural-industrial integration. “Mostaqbal Misr Industrial City” was established within the project to convert agricultural crops into processed products ready for trade and export. The city includes advanced infrastructure featuring packaging and processing stations, integrated logistics services, water and electricity networks, and modern roads, alongside several industries, most notably sugar, frozen vegetables and fruits, concentrates, and animal feed.

Additionally, the “Sphinx Agricultural Commodities Trading Center” forms part of the “New Delta” project and is considered the largest integrated agricultural commodities market in the Middle East. Spanning 500 feddans, it includes an agricultural commodities exchange, sorting, packaging, and processing stations, specialized markets for vegetables, fruits, legumes, and fish, in addition to refrigerated and frozen warehouses.

This integration between agricultural production, manufacturing, and trade has contributed to providing around 2 million job opportunities, enhancing the project’s economic impact and supporting comprehensive development efforts.

The infographics further stated that the “New Delta” project is a developmental achievement that addresses the critical equation between population growth, limited traditional freshwater resources, and the decline of fertile cultivated land. Egypt’s population increased by 14.5%, reaching approximately 109 million people by mid-2026, compared to 95.2 million in mid-2017. Meanwhile, according to the Ministry of Water Resources and Irrigation, Egypt’s annual water demand reached around 88.6 billion cubic meters, with 65.4 billion cubic meters supplied through renewable water resources, including desalinated water, while approximately 23.2 billion cubic meters are treated and reused.

The Ministry of Agriculture and Land Reclamation also explained that the area of land lost due to encroachments — according to aerial photography in 2017 — amounted to around 90,000 feddans since 2011. This necessitated the reclamation of new lands to compensate for the lost agricultural areas, noting that 800,000 feddans have already been reclaimed within the “New Delta” project.

In a related context, the infographics confirmed that increased production has contributed to stabilizing wheat imports despite population growth. Wheat production rose by 17.6% as a result of reclamation efforts despite the loss of fertile lands, reaching 10 million tons in 2026, compared to 8.5 million tons in 2017.

The infographics also explained that land reclamation serves as a means of maximizing economic returns, reflected in a 13.2% increase in employment in the agricultural sector, reaching 6 million workers in the first quarter of 2026, compared to 5.3 million workers during the same period in 2017. The Ministry of Agriculture and Land Reclamation also confirmed that agricultural exports rose by 102.1%, reaching 9.5 million tons in 2025, compared to 4.7 million tons in 2017.

The infographics further highlighted that the growth rate of food export values exceeded that of imports. Food exports increased by 139.5%, reaching USD 10.3 billion in 2025, compared to USD 4.3 billion in 2017, while food imports increased by 54.8%, reaching USD 16.1 billion in 2025, compared to USD 10.4 billion in 2017.

The infographics concluded by citing the confirmation of NASA that the “New Delta” project is part of an intensive effort to transform 2.2 million feddans of barren desert west of the Nile Delta into productive agricultural land.

Al MAl-


The latest auction of fixed-rate treasury bonds issued by the Central Bank of Egypt on behalf of the Ministry of Finance resulted in the acceptance of only seven bids, with a total nominal value of EGP 120.9 billion.

According to the data, the lowest accepted yield in this auction was 22.73%, while the highest accepted yield was 23.1%. The weighted average yield and coupon rate remained stable at 23.098%.

Regarding the bids submitted, the data showed strong interest from institutions and investment entities, with approximately 23 bids submitted. The total nominal value of these bids reached EGP 155.665 billion.

The interest rates requested by investors in the submitted bids ranged from a low of 22.73% to a high of 30%, while the weighted average yield for the total value of the bids reached approximately 23.755%, before the Ministry of Finance accepted the bonds at the aforementioned yield levels.

Trading Economics-


European stocks closed sharply higher on Wednesday, the highest in two weeks,The STOXX 50 closed 2.1% higher at 5,975 and the STOXX 600 gained 1.6% to 621. Energy prices pulled back , Consequently, sovereign yields retreated and improved the credit outlook for Eurozone banks, adding some respite to the sector. Santander, BBVA, and Deutsche Bank added close to 4%. Meanwhile, companies in the AI infrastructure sector were surged as the improvement in sentiment joined the tailwinds from Nvidia earnings overnight. ASML soared 6.7% and Infineon jumped 5.1%.

Trading Economics-


The FTSE 100 clawed back early losses to close about 1% up at 10,432 on Wednesday, as investors mulled better-than-expected UK inflation data and weighed a potential resolution to the Middle East conflict. Headline inflation fell to 2.8% in April, below the 3% forecast and the lowest since March 2025, which reduced bets on BoE rate hikes. Regarding geopolitics, President Trump said the conflict would end “very quickly,” with Vice President JD Vance reporting progress in talks with Tehran. Attention turns to first-quarter results from US chip giant Nvidia and the FOMC minutes. Retailer Marks & Spencer was the standout performer, surging 6.6%, on higher annual sales and profit growth forecasts. Babcock (5.3%) was boosted by an upgrade to ‘buy’ from ‘add’ at Peel Hunt. Heavyweight miners rallied as copper prices advanced, with Anglo American, Antofagasta and Glencore all up. Experian dropped 3%, leading losses, as FY2027 revenue guidance disappointed even with a $1 billion share buyback.

Trading Economics-


Frankfurt's DAX 40 gained ground to close about 1.4% firmer at 24,737 on Wednesday, the highest since May 6, in line with other European peers. In equities, Infineon Technologies was the top performer, rising 5%, on AI enthusiasm ahead of Nvidia's earnings release. Other notable gainers included Deutsche Bank (4.3%), MTU Aero Engines (4.1%) and Siemens Energy (3.9%).

Trading Economics-


A majority of Fed officials highlighted that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%, minutes from the FOMC meeting in April 2026 showed. To address the possibility of rate hikes, "many participants indicated that they would have preferred removing the language from the post-meeting statement that suggested an easing bias regarding the likely direction of the Committee’s future interest rate decisions“. However, several participants highlighted that it would likely be appropriate to lower interest rates once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market. The Fed kept the fed funds rate unchanged at the 3.5%–3.75% target range for a third consecutive meeting in April. The decision was not unanimous, and the 8-4 vote marked the first time since October 1992 that four officials dissented against a FOMC decision.

Trading Economics-


The S&P/TSX Composite Index gained 1.2% to close at 34,162 on Wednesday, posting its biggest advance in nearly three weeks as mining, banking, and technology shares led gains. A pullback in oil prices eased pressure on long-term borrowing costs, supporting heavyweight financial stocks. Royal Bank of Canada rose 1.9%, while TD Bank gained 1.4%, and both BMO and Brookfield advanced 2.3%. Mining stocks also moved higher, with Agnico Eagle adding 2.7% and Barrick rising 3.6% as gold prices increased alongside a decline in Treasury yields. The move followed signs of incoming energy supply from the Middle East, which helped temper expectations of further inflation pressure. In the technology sector, Shopify climbed 3.8% ahead of Nvidia’s earnings release, which investors viewed as a key test of the strength of the AI-driven market rally. Nvidia is expected to report its fastest sales growth in more than a year.

Trading Economics-


The Ibovespa jumped 1.8% to close at 177,356 on Wednesday, marking the benchmark’s biggest daily gain since early April, as easing oil prices and lower bond yields boosted risk appetite. Oil prices retreated after some ships managed to cross the Strait of Hormuz following 80 days of disruption, raising hopes that global supply conditions could gradually normalize. The pullback in crude prices helped ease inflation concerns and pushed bond yields lower, supporting financial stocks and the broader index. Itaْ rose 2.3%, Bradesco gained 2.4%, and Itaْsa advanced 2.7%. Utilities also posted strong gains, with Auren Energia up 2.2%, Sabesp adding 2.1%, and Eneva climbing 4.1%. Other notable performers included Ambev (+2.6%) and Rede D'Or (+2.6%). In contrast, Petrobras fell 3.2% as oil prices declined.

Trading Economics-


Japan’s trade balance swung to a surplus of JPY 301.9 billion in April 2026 from a deficit of JPY 149.5 billion in the same month a year earlier, sharply beating market expectations for a shortfall of JPY 29.7 billion. It was the largest trade surplus since November, as export growth continued to outpace imports. Exports surged 14.8% year-on-year to a near-record JPY 10,507.3 billion, accelerating from an 11.5% rise in March while marking the strongest growth in three months and exceeding the consensus of 9.3%, supported by robust demand from China, the U.S., ASEAN economies, and the EU. Meanwhile, imports increased 9.7% to JPY 10,205.4 billion, easing slightly from March’s 10.9% gain but still exceeding market forecasts of 8.3%. Import demand remained resilient, partly supported by the Japanese government’s sizeable stimulus measures introduced in late 2025. The latest reading marked the third consecutive month of import growth, although it was the softest pace in the sequence.

Trading Economics-


Japan's exports jumped 14.8% yoy to a near-record high of JPY 10,507.3 billion in April 2026, accelerating from 11.5% growth in March while marking the fastest pace in three months and topping market forecasts of 9.3%. It was also the 8th straight month of increase, reflecting resilient global demand despite supply disruptions. Shipments grew to China (15.5%), the U.S. (9.5%), ASEAN (19.9%), the EU (26.9%), and India (8.9%, but shrank to the Middle East (-55.5%). Sales rose for all components: transport equipment (6.0%), notably motor vehicles and car; electrical machinery (28.6%), boosted by chips and IC; machinery (12.5%), led by semicon machinery; others (18.1%), driven by scientific, optical instruments; manufactured goods (15.3%), due to non-ferrous metals; and chemicals (8.8%), notably plastics. Prolonged disruptions to Middle Eastern supply routes, however, could weigh on exports by slowing global demand, particularly in energy-intensive sectors.

Trading Economics-


The benchmark KOSPI surged 8.42% to close at 7,816 on Thursday, rebounding sharply from the previous session as investor sentiment improved on easing geopolitical concerns and strong momentum in the semiconductor sector. At the same time, technology shares led the rally amid sustained optimism surrounding AI-related chip demand and robust export growth. Heavyweight Samsung Electronics jumped 8.33%, while SK Hynix advanced 11.23%. Samsung Electronics also reached a tentative wage agreement with its labor union, averting a planned strike that had raised concerns over disruptions to global chip supply chains. Notable gains were also seen in Hyundai Motor (12.50%), SK Square (13.99%), LG Energy Solution (3.90%), Samsung Electro-Mechanics (12.91%), Doosan Enerbility (7.21%), and Kia Corporation (12.25%).