الثلاثيني المصري يغلق فوق 23400 نقطة لأول مرة في تاريخه
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00:00 Rania Yaqoub, CEO of 3way, we will hear more about the details later.
00:06 Rania, we are still at the top of the list of the second sessions of this week,
00:10 and we have 23,430 points,
00:13 ahead of the Central Bank of Egypt,
00:16 and we will hear from it on Thursday,
00:19 the decision on interest.
00:21 In your opinion, are the profits a preliminary move
00:25 to secure the expected interest from the Central Bank?
00:29 Good evening, Maysa.
00:31 As you mentioned, the main indicator of the Egyptian stock market is rising,
00:38 but let me tell you that this rise is due to the trading operations
00:45 of local investors and institutions,
00:48 with the potential for a critical policy adjustment,
00:52 with the fear of rising inflation rates.
00:55 Let's say that in this case, things are different.
00:59 Geopolitical tensions in the region may be misled by many global indicators.
01:05 We expected that the US federal government would stop the policy of increasing interest,
01:10 but with the recent changes, the rise in oil prices,
01:14 the rise in gold prices, and the tensions in the region,
01:18 the rise in oil prices, especially with the beginning of winter,
01:25 may lead to rising inflation rates,
01:29 which undoubtedly will mislead the Egyptian economy.
01:34 I think that the Central Bank meeting tomorrow
01:38 may be a preliminary move from the Central Bank
01:43 to increase interest rates, even if only by 1% to 1.5% or 2%.
01:48 Because the Central Bank always takes preliminary steps,
01:52 not its decisions on the current indicators.
01:55 If the current study says that we expect inflation rates to continue,
02:00 I think we can see a trend to increase interest rates on the Central Bank's side.
02:06 In your opinion, will there be a difference between inflation
02:10 and maintaining the inflation rate?
02:13 Which are the most important indicators for the Central Bank?
02:17 Which are the most important indicators?
02:20 Will inflation rate or inflation rate be the most important today?
02:24 There are no doubts that there are inflation rates.
02:29 Let's put them in priority.
02:32 Inflation rates are a very important factor in attracting investors to the state.
02:38 But also, the expectation of rising inflation rates will be one of the most important factors.
02:43 Let me tell you that even with the increase in interest rates today,
02:47 it will not affect the currency rates in the market.
02:51 Because everyone knows that with the rise in inflation rates,
02:55 the interest rate is still a negative interest rate on any money that is deposited in banks.
03:00 But there is no doubt that it will have an impact on the state's general balance sheet,
03:05 which increases the balance sheet's deficit due to the rise in the cost of debt.
03:09 But as we said, the idea is that the Central Bank is taking preliminary steps
03:14 based on the expectations of the coming period.
03:18 This may be the basis on which it will make a decision, whether to maintain or increase interest rates.
03:23 Today, we see a clear move on some of the cement prices.
03:27 The decision to reduce the production increase rate for Rania companies.
03:33 How important will it be for these companies?
03:37 And will its financial impact start to appear in the fourth quarter?
03:42 Is it possible to see the demand process in light of these circumstances
03:46 rise again, which will achieve the targets of cement factories?
03:51 Gold is considered a global safe haven.
03:56 Real estate is considered a safe haven on the Middle East.
04:00 Therefore, in light of the rise in inflation rates and expectations of the rising rate in the coming period,
04:06 we see that the demand for the real estate sector has increased.
04:11 This may be reflected in the fact that despite the increase in interest rates and all the obstacles,
04:15 we see that most real estate companies are still able to achieve satisfactory growth rates in revenues and profits.
04:23 So, in my opinion, with the movement of this sector,
04:26 and with the decision that was taken today, this will give a kind of breath to the cement sector.
04:32 And I think it will start to reflect on the results of its work in the first quarter of 2024.
04:38 Finally, the share of tobacco is also today 11% after the Parliament's decision to raise the prices of Rania.
04:45 In your opinion, as a price level, is the share still tempting for the collection process?
04:49 And will we see a greater rise after this decision to increase the prices of cigarettes?
04:56 In fact, the price of cigarettes was less than the price of the deal.
05:02 At that time, the average price was from 19 to 21 pounds, and the deal was made at 28 pounds.
05:09 Today, with the price approaching the deal price,
05:13 and still, let's say that the cigarette company has a different nature, it is considered a sector alone.
05:19 We do not have companies in this sector that are larger than the cigarette company.
05:23 Therefore, I expect that the share or expectations in the future will be to see an increase in the results of the business,
05:31 in revenues, and profits, and this will reflect in another way on the share,
05:35 because in fact today, the company will not bear the taxes,
05:39 it bears the final price that the consumer bears in the end.
05:44 Thank you Rania Yaacoub, President of the Board of Directors of the Reway Company for the circulation of financial documents.
05:48 You were with us from Cairo. Thank you.
05:51 Thank you.
05:51 (whooshing)