CLIMATE-

Canada’s Borna eyes USD 40 mn decarbonization tech facility: Canada-based clean-tech firm Borna plans to invest USD 40 mn to set up a facility focused on manufacturing flare gas recovery systems, carbon separation technologies, and reinjection solutions for the Egyptian natural gas network, according to a statement by the General Authority of Investments and Freezones. The company aims to help contracted partners tap into Egypt’s carbon market, while also supporting exporters’ compliance with the EU’s Carbon Border Adjustment Mechanism (CBAM).

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BANKING-

Banks to trim rates on high-interest CDs? Banque Misr and the National Bank of Egypt will see their Asset-Liability Committees meet to review interest rates on certificates of deposit (CDs), according to statements seen by EnterpriseAM. The move follows the central bank’s latest interest rate cut.

REMEMBER- The two state-owned lenders cut rates on their CDs last month shortly after the central bank announced its first rate cut in years.

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