BANKING-

Savers have put away some EGP 471 bn into the newly introduced high-yield certificates of deposit (CDs) from the National Bank of Egypt (NBE) and Banque Misr (BM), Youm 7 reports. Savers have poured some EGP 305 bn in CDs with NBE and EGP 166 bn with BM’s.

Remember: The NBE and Banque Misr introduced the record-high yield, 12-month CDs earlier this month, offering either a one-time return of 27% upon maturation or monthly payouts at a 23.5% annualized rate.

TELECOMS-

Egypt, Jordan to lay out subsea cable: Telecom Egypt inked an agreement with Jordanian telecom service provider NaiTel on Thursday to build a subsea cable — dubbed Coral Bridge — linking Sinai’s Taba to the Jordanian coastal city of Aqaba,according to statements from Telecom Egypt and the cabinet.

Vodafone’s shared services unit wants to scale up:Vodafone Intelligent Solutions (_VOIS) is planning to expand its operations in the country by 15% annually after teaming up with partners in the public and private sectors, according to a cabinet readout. VOIS currently employs over 9k people in Egypt.

MINING-

Mining tender in March? The government is gearing up to launch an international mining tender for three minerals in March, Asharq Business reported, citing an unnamed government official. The tender will cover an unspecified number of areas for mining mineral raw materials and for phosphate-, sulfur- and potash-bearing minerals.

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