Kalam Eg.mp4

CNBCArabia

5/20/2024

Transcript

00:00 Rania, welcome to our show.

00:04 The indicators did not hold up today against the morning gains.

00:08 We are now close to 26,600 points and we have penetrated it.

00:12 How can we comment on the performance of the market today,

00:15 especially since the Swedish share was the electric power that supported yesterday's

00:19 high. Today, the profit margin is back.

00:23 Good evening and welcome, Maysa.

00:28 After the rise that began in the Egyptian market with the end of the first session

00:32 yesterday, there was a high session.

00:35 Today, it was normal to receive positive market gains and it was normal to see

00:39 profit margin operations, especially since the Egyptian market has been suffering

00:43 for a month from a situation of fluctuation in movement, a tendency to decline,

00:49 there is a selling pressure on most shares, whether the leading shares or the EGX70 shares.

00:55 Therefore, today, with the beginning of the decline, and let's say it is a decline

01:00 of the indicators from the 24,000 point level, we begin to see a gradual and relative rise

01:06 of the Egyptian market.

01:08 Of course, it supported positive data, whether on the CIP, the acquisition news or

01:14 the acquisition request in the Swedish company, it supported the arrival of shares

01:20 to attractive price areas, and the market was going through a selling saturation stage.

01:25 Therefore, all this made us see a fluctuation, and today I see that the profit margin

01:31 that occurred with the end of the session is considered a very normal thing.

01:34 I am still waiting for the end of the week to say whether this is a fluctuation

01:39 from the support levels or not.

01:41 The castle was also a place of bad omen, after the decision we heard from the

01:45 General Audit Office to ban the participation of ordinary shares and also the excellent

01:50 ones of the Cedatel Capital Partners, and also to ban them from voting in the General

01:56 Audit Office, which was decided on May 30.

01:59 The decision that came from the Financial Audit Office, to what extent does it benefit

02:03 the shareholders in your opinion?

02:05 And will you agree with the castle, after it gave the right to the shareholders to

02:10 participate in the restructuring of their debts?

02:14 Let me tell you how much this decision benefits the shareholders.

02:20 Since the announcement of this deal, it is apparently a deal in the interest of

02:24 the shareholders and in the interest of the future of the company, and it removes the

02:28 debts on the company, but there was a fluctuation among the small investors.

02:35 How will I participate in this deal?

02:38 How will I transfer my money abroad?

02:40 Where will I get dollars from?

02:42 How will I know the company's machine abroad?

02:44 All these are questions we heard from ordinary investors.

02:48 Today, in this framework, I think that the Financial Audit Office has proven in a

02:53 decisive way that it preserves the interests of small investors, from the direction of

02:57 the Authority in the last period to directing the talks and negotiations with the company

03:03 and giving the right to the shareholders and small investors.

03:08 Today, I can participate in this recall of the debt with the Egyptian pound, because

03:14 not all investors will be able to save dollars today.

03:18 I also think that the idea of stopping the ordinary and excellent shares of the

03:23 company's voting will be a very big blow today for small investors.

03:29 The biggest right is that they can make important decisions in the company, and I

03:33 think that in general, this was a positive thing, but it was a blur in not explaining

03:39 the mechanism and the way to participate for small investors.

03:43 We are also seeing today the decision related to the Central Bank.

03:49 The outlook is heading towards the end of the week.

03:52 Is there still a dispute, in your opinion, about the data that have emerged for the

03:57 levels of inflation, about the performance of the Egyptian economy and the ability of

04:03 the Central Bank to change its monetary policy, as expected?

04:07 And how will any decision have an impact on the psychology of investors today?

04:11 Okay, in a very big picture, since the last decisions in March, there is a very clear

04:19 improvement and a different view from the international institutions and from the

04:24 Egyptian investors after the great gap in the prices of the exchange, after the

04:29 central direction to take bold steps.

04:32 Perhaps many of the investors and international institutions were expecting a

04:37 reduction in shares, they were expecting certain movements to make monetary policy,

04:43 but we saw bold and fast movements to solve this crisis, and this may have

04:48 led us to see very fast reflections.

04:50 For example, the security risks on the Egyptian debt have decreased significantly

04:55 from the 857 point levels to the 287 point levels.

04:59 This is a very big reduction and it strengthens the vision and confidence of the

05:04 investors.

05:05 Let's look at the international institutions today and their view of the Egyptian

05:09 economy, which has become mostly based on improving the vision of the Egyptian

05:13 central bank, especially since most of the fears were about the prices of the

05:18 exchange and the investors' concern about the process of converting their profits,

05:22 but with the great gap and the number of dollar monetary inflows, whether because

05:26 of the capital agreement or because of other reasons, because of the investors'

05:30 view, this has given a kind of confidence to the Egyptian economy.

05:33 Despite all these things, I still believe that the coming meeting of the Egyptian

05:38 central bank will lead to a positive profit, especially since the inflation rates are

05:43 still low or stable, but I don't think they have decreased in the way that the

05:48 central bank has reduced the profits.

05:51 Quickly, in short, Rania, today the Minister of Finance stated that the import

05:56 bill has increased to 4 billion a month, the Suez Canal's interest rates will

06:01 decline by 60%.

06:02 How much can this lead to a loss of insurance despite the direct investment

06:07 in the projects that the government announced, including the capital of wisdom

06:11 recently?

06:12 I think that what was announced today was not a surprise, and this has been

06:17 taken over the past few months since the beginning of this year, and we see

06:21 tensions in the Red Sea region, and we expect the Suez Canal's interest rates to

06:26 decrease, so all this is being taken into account in the vision of Egypt or its

06:30 plan for the coming period.

06:32 Thank you Rania Yaqoub, the President of the Three Way Board of Directors for

06:37 Financial Papers.

06:38 You were with us from Cairo.

06:39 Thank you.

06:40 Thank you.

06:41 Thank you.

06:42 Thank you.

06:43 Thank you.

06:44 Thank you.

06:44 (upbeat music)

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