Good afternoon, folks, and Ramadan Kareem. We hope that the caffeine withdrawal has been gentle as we begin the holy month.

So, when do we eat? Maghrib prayers are at 6:02pm in the capital, and you’ll have until 4:49am tomorrow to hydrate and caffeinate ahead of fajr.

THE BIG STORY TODAY

CIB eases FX transaction limits abroad for the second time in less than a week: CIB has raised the monthly maximum cap on FX transactions abroad to the equivalent of EGP 75k-200k depending on the cardholder’s account type, up from EGP 25k-175k, according to a statement (pdf) from the lender. Egyptians abroad can now also withdraw the equivalent of EGP 3.5k-10k from ATMs abroad every month, up from EGP 2k-6.5k.

There’s also good news for those of you wanting to renew your Netflix subscriptions for Ramadan: CIB also increased the monthly ceiling on FX transactions at home to EGP 50k for all account types, up from EGP 3.5k-12.5k.

The move follows another loosening of FX transactions the bank and others had made atthe end of last week, following instructions from the central bank to gradually lift restrictions on credit card FX transactions as the country adjusts to a new post-float normal and waves goodbye to the parallel market.

THE BIG STORY ABROAD

BTC’s record-high price is getting some ink in the international press this afternoon. After the British Financial Conduct Authority said it would allow the listing of crypto-backed exchanges following The Securities and Exchange Commission’s move to approve ETFs, BTC’s price rose 3% to over USD 72 k, says CNBC. Traders are obligated to maintain UK listings regime requirements, as well as those concerning issuing prospectuses and disclosures to make sure investors are protected and trade goes smoothly. The London Stock Exchange will now approve ETNs starting 2Q — but investments are not open to consumers yet, calling crypto “ill-suited for retail consumers due to the harm they pose.”

** CATCH UP QUICK on the top stories from today’s EnterpriseAM:

  • Inflation unexpectedly up, after easing for four months straight: Annual urban inflation jumped 5.9 percentage points to 35.7% in February from the month before on the back of an unexpected jump in food prices.
  • World Bank, EU to funnel USD 8-9 bn into Egypt: The World Bank is expected to extend around USD 3 bn in financing to Egypt and will also receive some USD 5-6 bn in financing from the European Union.
  • Beltone to acquire 100% of SODIC’s securitization arm: Real estate developer SODIC’s securitization subsidiary — SODIC for Securitization — is set to offload all of its shares to Beltone Financial Holding after its general assembly approved the decision on Thursday.

☀️ TOMORROW’S WEATHER- Expect more sunny skies starting off with a low of 12°C before the mercury climbs up to 27°C and drops back down to 17°C at night, according to our favorite weather app.

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