CIB hikes Premium CD to 18% ahead of CBE meeting

Good morning, friends.

The Mostakbal Misr story deserves your full attention.

On the real estate front:

And a note on the broader economy:

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Liquidity soak-up continues

CIB has raised the rate on its three-year fixed “Premium” certificate by 50 b ps to 18% annual return website

The move keeps the nation’s largest private-sector lender in step with the state giants — the National Bank of Egypt (NBE) and Banque Misr (BM) — last month

Eyes on the central bank: hiking CD rates by a sharper 125 bps

MEANWHILE- raised EGP 5.7 bn and EGP 2 bn 34% of their assets

No permit, no guests

Owners of furnished rental units who want to rent to tourists have one year to license them with the Tourism Ministry press conference

The terms: last year

REMEMBER- and needs about 250k more rooms

DATA POINT- arrivals jumped 43.5% y-o-y to 5.6 mn

The Financial Regulatory Authority (FRA) licensed a second credit-rating company and two new futures brokers a statement

IN CONTEXT- formed in 2024 selected the duo

Adding Sigma and Aspire widens the broker base for a product still looking for users. have struggled to gain traction CIB and TMG

Culture minister steps down

P rime Minister Mosta fa Madbouly accepted Gihane Zaki’s resignation from her post as culture minister statement appointed

It’s breathable in Alexandria

The big story abroad

The US-Iran c onflict has reignited launched reportedly launched against military targets

Washington also revoked a waiver that allowed Tehran to sell oil openly on global markets.

Iran has not claimed responsibility for the attacks on vessels in the strait reiterated its authority

We’ll be closely watching the Iranian response

Meanwhile, in the world of AI: plans to bankroll

The latest offering from Meta’s AI overhaul is here — an image-generation model. Muse Spark Image

And on Wall Street: saddled with a nine-year backlog

PLUS- USD 50 bn defense agreement spree

*** It’s Hardhat day — your weekly briefing of all things infrastructure in Egypt: