Just like rival Blom, Lebanon’s Bank Audi sees a lot of potential for growth from its Egyptian business, particularly on the private banking side, which requires fairly low capital and generates around 12-15% of the bank’s bottom line in the country, Chairman Samir Hanna tells Bloomberg in an interview (watch, runtime: 6:12).

The government does not seem to have a realistic plan for attracting citizens to the new administrative capital, says the Guardian’s Ruth Michaelson. Although the new megacity is meant to leave behind the “ugliness” of crowded Cairo, real estate prices are likely to make it difficult for low-income government employees to relocate. Employees who opt to commute to the new capital — which will house government buildings, and potentially foreign embassies — might also find the cost of taking the monorail too high, Michaelson says, suggesting that the new capital might meet the same fate as “half-empty” satellite cities, “each a failed monument to their developers’ inability to draw the bulk of the population away from downtown Cairo.”

Also worth a skim this morning:

• For the first time since 2011, the Israeli embassy in Cairo celebrated the anniversary of its country’s founding, the Associated Press reports.
• Egyptian archaeologists have unearthed a tomb belonging to a “great army general” of Ramses II at the Saqqara burial complex near Cairo, the Associated Press reports.