Good morning, all. After a slow start to the week, with all eyes on the grand opening of the Grand Egyptian Museum, the news flow has picked up. Debt news leads the news well, as we follow up on our maiden local sukuk issuance.

PSA-

WEATHER- The temps are dropping in Cairo today, the capital will see a high of 27°C and a low of 19°C, according to our favorite weather app.

It’s a few degrees hotter in Alexandria, which is in for a high of 29°C and a low of 20°C.

FROM THE DEBT MARKETS-

The CBE is holding its second EUR-denominated t-bill auction of the year: The Central Bank of Egypt is looking to raise some EUR 600 mn from auctioning off one-year, EUR-denominated treasury bills, according to the CBE website. The submission deadline for the auction is today at 11am. This follows a successful issuance in August, which saw yields drop a whole 1.25 percentage points to an average of 2.25%.

HAPPENING TODAY-

Attention, aspiring MBA students. The SEED Business School Festival at Dusit Thani Lakeview today will give you the chance to discover Master’s programs, get your application fee waived, and take part in workshops. The event is free to attend, but make sure to register through the SEED Global Education website. The event will run from 4:30-9pm. For more information, check out Newton Education Services’ social media channels.

HAPPENING TOMORROW-

Non-oil private sector activity to break its seven-month streak in the red? S&P Global will release PMI figures measuring non-oil private sector activity for October on Tuesday. Last month’s report saw the country’s headline figure contracting to 48.8, taking us further away from the 50.0 threshold that separates growth from contraction, which it has only passed two times since November 2020.

** DID YOU KNOW that we cover Saudi Arabia and the UAE?

** Were you forwarded this email? Tap or click here to get your own copy delivered every weekday before 7am Cairo time — without charge.

ICYMI- Missed this week’s Inside Industry? In our weekly vertical exploring all things industry and manufacturing, we spoke to Arda Çimen, ‏Badr plant manager at Schneider Electric. Check out the story here.

THE BIG STORY ABROAD-

No single story is dominating today’s headlines, but few are getting top billing:

Israel threatened to increase its attacks against Hezbollah in Lebanon with Israeli Prime Minister Benjamin Netanyahu saying that Israel “shall take whatever action is required” to prevent Hezbollah from opening a new front. Meanwhile, US special envoy Tom Barrack warned that time is running out for Lebanon’s government to enforce the ceasefire deal struck last year, which requires Beirut to disarm Hezbollah, something both Israel and Washington say the group is actively refusing. (Bloomberg | New York Times | Guardian)

ALSO WORTH READING THIS MORNING‑ Top AI labs including Google DeepMind, Anthropic, OpenAI and Microsoft are racing to plug a new security hole in large language models that allows hackers to embed commands in emails or websites and trick the models into spilling confidential data, the Financial Times report.

AND- US envoys are accused of deploying “bully‑boy tactics” to intimidate diplomats from Africa, the Pacific, and the Caribbean into sidelining the UN-backed Net Zero Framework for global shipping, writes the Financial Times.

*** It’s Blackboard day: We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed.

In today’s issue: We take a look at how Egypt’s corporate learning and development scene is being reshaped by economic pressures, rapid tech change, and the rise of artificial intelligence.

Tags: