Egypt halts cement plant capacity cuts

Egypt Halts Cement Factory Capacity Reductions
The Egyptian government has decided to indefinitely suspend the decision to reduce cement factory production capacity, aiming to increase supply in the local market after prices rose.
🌍 BRICS Countries Call for Comprehensive IMF Reform
In a move that reflects their growing economic influence, the BRICS countries announced a unified position calling for comprehensive reform of the International Monetary Fund.
The countries emphasized the need to restructure the Fund’s quotas and voting rights to reflect the current global economic reality and provide greater representation to developing countries.
The IMF review meeting scheduled for December 2025 will be crucial to implementing these reforms.
🇪🇬 Egypt’s Non-Oil Private Sector Shrinks
Egypt’s non-oil private sector contracted more rapidly in June 2025, with the Purchasing Managers’ Index (PMI) declining to 48.8 points from 49.5 points in May, as a result of weak demand and a decline in purchasing activity.
This indicates growing economic challenges in Egypt, despite government efforts to overcome the crisis.
🇯🇵 Japan Exports Used Naval Destroyers to the Philippines
Japan has announced the export of used naval destroyers to the Philippines to bolster its deterrence against Chinese naval expansion.
The plan includes six Abukuma-class escort vessels, which have been in service with the Japan Maritime Self-Defense Force for more than 30 years.
🇨🇳 China Imposes Restrictions on Imports of Medical Devices from the EU
In response to European measures imposed last month, China announced restrictions on imports of medical devices from the European Union, exacerbating trade tensions between the two sides.
🚢 Admarine 12 Sinks in the Gulf of Suez
ADES, the owner of the Admarine 12 naval vessel that sank in the Gulf of Suez, announced the disbursement of EGP 5 million in compensation to each family of the deceased or missing.
Eight urgent compensation measures have been identified in coordination with the Ministries of Petroleum and Labor.
💰 The Central Bank of Egypt sells record treasury bills and bonds.
In 2024-25, the Central Bank of Egypt sold EGP 6 trillion in domestic treasury bills and bonds, a 9% increase compared to last year.
These funds will be used to finance the budget deficit and repay maturing debt. The government estimates its borrowing needs for the 2024-25 budget at approximately EGP 3.575 trillion.