{"id":614118,"date":"2024-01-28T00:00:00","date_gmt":"2024-01-28T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/savers-pour-egp-471-bn-into-high-yield-cds-plus-mining-tender-subsea-cable-incoming\/"},"modified":"2024-01-28T00:00:00","modified_gmt":"2024-01-28T00:00:00","slug":"savers-pour-egp-471-bn-into-high-yield-cds-plus-mining-tender-subsea-cable-incoming","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/savers-pour-egp-471-bn-into-high-yield-cds-plus-mining-tender-subsea-cable-incoming\/","title":{"rendered":"Savers pour EGP 471 bn into high-yield CDs. PLUS: Mining tender + subsea cable incoming."},"content":{"rendered":"<p class=\"tag-border-left\">BANKING- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Savers have put away some EGP 471 bn into the newly introduced high-yield <\/strong><strong>certificates of deposit <\/strong>(CDs) from the National Bank of Egypt (NBE) and Banque Misr (BM), <a target=\"_blank\" href=\"http:\/\/tinyurl.com\/4b4kbyn3\" style=\"\" rel=\"noopener\">Youm 7<\/a> reports. Savers have poured some EGP 305 bn in CDs with NBE and EGP 166 bn with BM\u2019s. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Remember:<\/strong> The NBE and Banque Misr <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/ca07962e-49c3-4cb5-ab1d-89a6443c7602\" style=\"\" rel=\"noopener\">introduced<\/a> 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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">TELECOMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Egypt, Jordan to lay out subsea cable:<\/strong> Telecom Egypt inked an agreement with Jordanian telecom service provider <a target=\"_blank\" href=\"https:\/\/naitel.jo\/default.aspx?l=1&pg=1\" style=\"\" rel=\"noopener\">NaiTel<\/a> on Thursday to build a subsea cable \u2014 dubbed Coral Bridge \u2014 linking Sinai\u2019s Taba to the Jordanian coastal city of Aqaba,according to statements from <a target=\"_blank\" href=\"https:\/\/ir.te.eg\/en\/CorporateNews\/PressRelease\/193\/Telecom-Egypt-and-NaiTel-join-forces-to-build-a-new-subsea-cable-Coral-Bridge-between-Egypt-and-Jordan\" style=\"\" rel=\"noopener\">Telecom Egypt<\/a> and the <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02azkn8gKF3fQw7HG1TsPScY61yTg3QtBhmQmL5GtTdKGiniazhvpuKu1caL8MsWdvl\" style=\"\" rel=\"noopener\">cabinet<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Vodafone\u2019s shared services unit wants to scale up:<\/strong><a target=\"_blank\" href=\"https:\/\/www.vodafone.com\/careers\/professional-career-areas\/shared-services\" style=\"\" rel=\"noopener\">Vodafone Intelligent Solutions<\/a> (_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 <a target=\"_blank\" href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02wD1xbMHC1JqTb6guynrpFsxL42sYkowKcJFwcVHfU2PVZKTormiH2Tnd8nqn86gml\" style=\"\" rel=\"noopener\">cabinet readout<\/a>. VOIS currently employs over 9k people in Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">MINING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Mining tender in March?<\/strong> The government is gearing up to launch an international mining tender for three minerals in March, <a target=\"_blank\" href=\"https:\/\/www.asharqbusiness.com\/article\/59612\/%D9%85%D8%B5%D8%B1-%D8%AA%D8%B7%D8%B1%D8%AD-%D9%85%D8%B2%D8%A7%D9%8A%D8%AF%D8%A9-%D8%AF%D9%88%D9%84%D9%8A%D8%A9-%D9%84%D9%84%D8%AA%D9%86%D9%82%D9%8A%D8%A8-%D8%B9%D9%86-3-%D9%85%D8%B9%D8%A7%D8%AF%D9%86-%D9%81%D9%8A-%D9%85%D8%A7%D8%B1%D8%B3\/\" style=\"\" rel=\"noopener\">Asharq Business<\/a> 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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Savers have poured some EGP 305 bn in CDs with NBE and EGP 166 bn with BM\u2019s<\/p>\n","protected":false},"author":1,"featured_media":614119,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,204,576,72,373,248,212,142],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-614118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banking","tag-banque-misr","tag-enterpriseam","tag-mining","tag-national-bank-of-egypt","tag-telecom-egypt","tag-vodafone-egypt","wpautop","entry"],"acf":{"mongo_id":"b349872c-1c9d-4b2b-b7e7-47fc61274acf","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2244.JPG","photo_position":"above","homepage_title":"","full_issue_title":"Savers pour EGP 471 bn into high-yield CDs. PLUS: Mining tender + subsea cable incoming.","related_issue":[614093],"teaser":"Savers have poured some EGP 305 bn in CDs with NBE and EGP 166 bn with BM\u2019s","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/1\/.615b7d56-f932-48a6-a76f-7e640ab57407.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Savers pour EGP 471 bn into high-yield CDs. PLUS: Mining tender + subsea cable incoming. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/01\/28\/savers-pour-egp-471-bn-into-high-yield-cds-plus-mining-tender-subsea-cable-incoming\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Savers pour EGP 471 bn into high-yield CDs. 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PLUS: Mining tender + subsea cable incoming."}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2244.JPG?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2244.JPG?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/2244.JPG?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":579118,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/25\/its-sayonara-to-high-yield-cds-at-the-end-of-the-month\/","url_meta":{"origin":614118,"position":0},"title":"It\u2019s sayonara to high-yield CDs at the end of the month","author":"enterpriseam admin","date":"25 January 2023","format":false,"excerpt":"Banque Misr and the National Bank of Egypt are pulling their one-year, 25% certificates of deposit after the end of January, according to emailed statements from the two banks. The high-yield savings products were introduced to the market on 4 January ahead of the EGP devaluation to help curb inflation\u2026","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/444.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544961,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/29\/cds-see-egp-260-bn-in-inflows-in-a-week\/","url_meta":{"origin":614118,"position":1},"title":"CDs see EGP 260 bn in inflows in a week","author":"enterpriseam admin","date":"29 March 2022","format":false,"excerpt":"More than a quarter of a tn EGP now invested in CDs: More than EGP 260 bn has been poured into the 18% CDs launched by Banque Misr and the National Bank of Egypt (NBE) last Monday in the wake of the Central Bank of Egypt\u2019s 100-bps rate hike. Savers\u2026","rel":"","context":"In &quot;Also on our Radar&quot;","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":578632,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/09\/newly-introduced-25-cds-see-massive-demand-in-first-two-days-big-two-bag-usd-700-mn-facility\/","url_meta":{"origin":614118,"position":2},"title":"Newly introduced 25% CDs see massive demand in first two days + Big Two bag USD 700 mn facility","author":"enterpriseam admin","date":"9 January 2023","format":false,"excerpt":"The newly released 25% certificates of deposit have raked in almost EGP 100 bn in a matter of days \u2014 and the two state banks offering them have reportedly secured a major loan to meet local demand for hard currency.Savers poured nearly EGP 100 bn into newly introduced record-high yield\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/enterpriseam.com\/egypt\/category\/economy\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/113.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546847,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/bye-bye-18-certificates-of-deposit\/","url_meta":{"origin":614118,"position":3},"title":"Bye-bye, 18% certificates of deposit\u2026","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"NBE, Banque Misr suspend sales of 18% CDs: State-owned National Bank of Egypt (NBE) and Banque Misr will no longer be selling one-year, 18% certificates of deposit (CDs) introduced after the Central Bank of Egypt\u2019s devalued the EGP on 22 March, according to a statement (pdf) from Banque Misr and\u2026","rel":"","context":"In &quot;Banking&quot;","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/410.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":579208,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/01\/30\/egx-gains-high-yield-cds-and-rate-hikes-on-the-airwaves\/","url_meta":{"origin":614118,"position":4},"title":"EGX gains, high-yield CDs, and rate hikes on the airwaves","author":"enterpriseam admin","date":"30 January 2023","format":false,"excerpt":"It was another econ-heavy evening on the talk shows last night, with the talking heads cheering a good day for the EGX yesterday; 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