US Treasury yields hit their highest level since 2002

Good afternoon, ladies and gentlemen, happy October, and congratulations on making it to the weekend. We’ve got a packed issue for you this afternoon to cap off the week.

FIRST UP– MNT-Halan’s Egyptian arm is heading to the EGX. In what is set to be one of the largest IPOs Egypt has seen in years, MNT Tech Holding for Financial Investments is lining up a 20% stake in a fully secondary offering open to institutional and retail investors. We have the full details below in our Big Story Today.

Also on deck: We break down the FRA’s new consumer finance guide — what it actually says and what rights it gives you as a borrower. We also tune into Emmy-favorite DTF St. Louis and take a look at the upcoming Egypt Coffee Festival.

First, the international headlines…

THE BIG STORY ABROAD-

Still getting top billing this afternoon is the flydubai in-flight incident, but markets are also drawing attention as a deepening global bond sell-off pushes US Treasury yields to their highest since 2002. The 10-year Treasury yield rose four basis points to around 5.34%, while the 30-year Treasury yield climbed three basis points to 5.67%. European stocks also dropped, with the Stoxx 600 falling 1.2%. This comes as government borrowing costs from the US to France, Japan, and elsewhere around the world rise to record levels.

^^Read more on: Bloomberg, CNBC, Financial Times, and Reuters.

MEANWHILE- Chinese refiners have suspended oil exports for October, canceling a handful of gasoline and jet fuel shipments and halting exports to all destinations except Hong Kong and Macau. The move comes as oil prices rise and Beijing looks to preserve domestic stocks amidst war-constrained global energy markets.

^^Read more on: CNBC and Reuters.

The future of engineering in the age of AI with Youssef Rizk: What do you risk when you build your business on top of the world’s frontier AI models?

Youssef Rizk, CEO of Windfall and co-founder and CTO of Wondercraft, says, “Look at Google’s graveyard.”

We discuss the present moment in tech and take a pause to ponder the future. Does AI replace people? Or does it add more work?

Listen to the episode on: Apple Podcasts | Spotify | Anghami | YouTube

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

• Egypt’s farm exports are setting records, but growth is running into cold-chain gaps and a quality problem at Europe’s borders that could cap how far it goes. Fresh and processed agricultural exports hit a record USD 11.5 bn in 2025, making up 24% of the country’s total exports and marking a step toward the state’s USD 20 bn agro-export target for 2030;
• The government confirmed the first awards under the new open-sector mining system at this week’s Egypt Mining Forum. The new system drew 403 investment offers from 119 companies for 118 exploration blocks since the system launched in June. The wider offering covered 335 blocks across about 650 sq km, including 261 gold and 74 other mineral zones;
• The Financial Regulatory Authority updated rules for credit and guarantee ins. underwriting and pricing, introducing actuarial pricing floors, binding concentration limits, and mandatory stress testing. Decision 3132 of 2026 applies to property and liability insurers licensed to write credit and guarantee coverage, excluding domestic commercial credit and export credit.

We’re honored to welcome Ahmed M. Sobhy as a guest speaker at the 2026 EnterpriseAM Egypt Forum.

Ahmed Sobhy currently serves as deputy CEO at eFinance Investment Group, overseeing the investment and finance divisions with a focus on the company’s growth and expansion into new business areas.

Prior to this role, Sobhy served as chief investment officer at Banque Misr, leading the bank’s equities and capital markets investments, including a private equity portfolio valued at USD 3 bn, and playing a pivotal role in the bank’s transformation and fintech expansion over nearly six years. Before that, he was Investment Principal at Ezdehar Fund Management, where he led several acquisition and exit transactions, including the strategic minority stake in Dsquares.

Earlier in his career, Sobhy was vice president in the investment banking division at Morgan Stanley & Co., leading M&A transactions exceeding USD 31 bn across the UK, US, and Egypt, and held roles at Swicorp across the MENA region.

Registration is now closed. Thank you to everyone who registered. We look forward to welcoming you on Monday, 5 October.

☀️ TOMORROW’S WEATHER- We’re in for a cool start to the weekend, with temperatures in Cairo tomorrow peaking at just 31°C before reaching a breezy overnight low of 21°C, according to our favorite weather app.