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08:38 and we also had the results of its transactions in the past period, which rose in the results in 2023 by 8% annually and reached approximately 230 billion Riyals.
08:54 Therefore, what also supported its growth is the largest real estate development in the past year, which was a result of the sale of two pieces of land in the Lusail area,
09:03 in addition to a sum of approximately 19 million Riyals resulting from a share sale of the group in Bima Insurance.
09:09 We are noticing a clear interaction between the company and the company with 1% of profits in this session.
09:14 QNB this time we are noticing a decline of approximately 2.25% after the bank's generalization also agreed to distribute 6 billion Riyals as a cash profit in 2023.
09:26 And we go back to the leading shareholder in the Kuwait market, which is your home, which was able to recover 800 Fils levels in this session,
09:35 which is the first closure of the shareholder at these levels since September 2022.
09:42 The bank was also able to achieve exceptional and historical profits in the history of the bank in 2023,
09:49 and this supported the company's results and actions during the past period, supported by the income of the benefits and performance of the company during this session.
10:09 So, our viewers, we go back this time and focus on the details of the closure of this session, and we noticed a kind of disunity,
10:18 but a clear calmness on the movements of the Abu Dhabi market, and Mr. Wael Mahdi, the trading manager, joins us in guaranteeing the financial documents.
10:25 Welcome to us on the CNBC Arabic screen.
10:28 Welcome.
10:29 We are seeing this huge amount of the results of the companies' actions, but it seems that the reaction of the market is somewhat calm.
10:37 There is no strong reaction that we were expecting from these results.
10:42 From time to time, there is a reaction to the financial results.
10:46 I completely agree with you that the reaction or the price movements, whether at the level of prices or even at the levels of the size of the exchange,
10:55 were not in accordance with the financial results that came.
10:59 The results that were announced, 80% of the results that were announced, whether in the banking sector or the real estate sector,
11:05 came much better than expected, especially in the banking sector, and especially at the end of last week,
11:12 for the real estate and development construction company.
11:15 Both of them came with very good results.
11:17 I think that the reaction in the session today on the construction share reached about 97% at the highest levels and at all.
11:25 This is the first effective response to the construction share, despite the fact that we are waiting for a lot.
11:30 According to the financial results that have been announced so far, the banking sector has the highest excellent financial results.
11:37 Also, the distribution is considered to be a good distribution, sometimes reaching 7%.
11:43 If we compare it with what is given by banks on a 5% dividend.
11:49 Indeed, this is what I would like to ask you about, Mr. Wael. The distribution today, especially for the banking sector in the Dubai market,
11:55 was a clear indication of what are considered historical levels of these distributions.
12:01 In your opinion, to what extent will these distributions be able to attract liquidity and hold these shares for a longer period of time?
12:10 A very good point. I completely agree with you that the reaction will come.
12:15 If it does not come in the time of interest, then with the construction of public institutions and the close investigation of distributions,
12:21 we have seen a positive movement for the distribution of the funds that were announced this year to very low levels.
12:34 Therefore, with the construction of public institutions, I think that we will start with the construction of the Emirates-Dubai National Institute on February 21,
12:41 and then the next week, and then all of Abu Dhabi, the Bank of the East, and some other companies in March.
12:51 Therefore, I think that with the construction of these institutions and the agreement on the distribution of funds,
12:57 we will see a reaction to the markets and we will see liquidity that may attract markets in the next period.
13:04 Mr. Wael, today, if we talk about the middle of liquidity, we are still seeing the market of Abu Dhabi today below the levels of the billion.
13:13 In your opinion, today, the flow and the role of the foreign investor and his entry, and we are at the end of the round of exchanges,
13:20 maybe today or tomorrow, we will also be on the subject of reviewing the MSCI.
13:25 In your opinion, today, how do we describe the role of the foreign investor in the movement?
13:31 In 2023, there was a clear impact on foreign investment, or let's go back to the short term, since 2021,
13:42 and there is a target for stocks in the capital market by foreign investment, and there is a clear liquidity in the past few years.
13:50 There was a correction for the general indicator of the capital market, but foreign investors still keep their positions in the capital,
14:00 especially in the next stocks.
14:03 The two main factors are that there is confidence in the financial results that are being announced gradually,
14:11 and there is also confidence in the financial distributions that are considered good for investors, whether foreign or local.
14:20 Therefore, targeting of the existing stocks, whether in the capital market or even in the Dubai market,
14:25 the Dubai market has seen in the last quarter of 2023, there is a clear entry of foreign investors,
14:30 there is a clear building of financial centers in the existing stocks, and so far we have seen a rapid rise since last October on the Dubai market.
14:39 I think that the Abu Dhabi market, after three years of rapid rise and building centers for foreign investors,
14:49 there was a correction in the second half of 2023, which continues to this day, with the decline in the size of the stocks you mentioned.
14:57 Please, go ahead.
14:58 Thank you, Mr. Wael, and you are the Director of the Financial Securities Insurance Department. Thank you for being with us.
15:08 We will now return to the most prominent statements that CNBC Arabia made on the rise of the government in Dubai.
15:17 Thank you.
15:19 The Dubai Stock Exchange has been in a positive position since the start of the 2020 financial year.
15:25 The Dubai Stock Exchange has been in a positive position since the start of the 2020 financial year.
15:33 The Dubai Stock Exchange has been in a positive position since the start of the 2020 financial year.
15:41 Welcome back to the show.
15:48 We are back this time on the rise of the international government.
15:54 The Minister of Finance of Bahrain, Salman bin Khalifa Al Khalifa, said in a special interview with CNBC Arabia,
16:02 that there are many initiatives to accelerate the economic recovery in the Gulf,
16:07 and added that the plan for economic recovery in Bahrain focuses on six sectors, including tourism and industry.
16:15 Thank God, there is a lot of work being done between the Gulf countries on economic integration
16:23 and on translating the goals of economic integration into specific sectors and even into specific supply chains.
16:34 We see that there are many initiatives, including the initiative for industrial integration,
16:41 which was worked on by the United Arab Emirates, the Republic of Egypt, Jordan and Bahrain.
16:55 Morocco has also joined it.
16:59 This was at a level that was beyond the Gulf.
17:04 But the important work is that there are many initiatives that are being worked on and accelerated
17:10 in terms of economic integration in the Gulf, and we aspire to more.
17:18 The real translation of this is through initiatives for specific sectors and for specific supply chains.
17:27 This is what we talked about today, and the International Government Summit is looking for all these things and more, God willing.
17:32 Bahrain is working on economic development in the last period.
17:35 Which sectors will we focus on in terms of economic participation projects with the countries we mentioned?
17:40 In the Kingdom of Bahrain, the economic recovery plan was launched at the end of 2021,
17:48 and we will focus on six sectors, tourism, logistics, banks, digital services, industry and oil and gas.
18:00 These six sectors have been put together with strategies and plans for all of them,
18:05 and work is being done with the private sector and with partners in the international chain
18:11 to put the investments that have been attracted to the investments and to establish projects.
18:17 At the summit, the CEO of CNBC Arabia, Eand Hatem Dwidar, said that the company has more than 460 AI projects in the UAE.
18:30 He also added that the number of customers currently is 165 million employees,
18:36 and is expected to reach 200 million in the coming weeks.
18:43 In fact, AI is a very important part of the fourth industrial revolution.
18:49 The third industrial revolution was IT, computers, and computers.
18:56 The fourth industrial revolution is the presence of a large amount of information,
19:01 and AI is now a way to transform this information into useful information for all areas of life.
19:10 AI also allows all people to use it.
19:16 Before that, one had to have the ability to program to deal with this amount of information.
19:22 How much do you invest in AI during the current period and what are your goals?
19:27 In fact, we currently have more than 460 projects in the company,
19:32 currently only in the UAE, other than other countries, also related to AI.
19:36 We have appointed a CEO of the AI sector in the company,
19:41 and this is one of the major jobs, to coordinate between different administrations in the applications of AI that we do.
19:48 Of course, the investments that will be available are tens, if not hundreds of millions,
19:54 in the next five years.
19:57 We not only save AI, we use it,
20:01 but we also deliver these applications to all our customers,
20:06 from individuals, companies, and governments.
20:09 How many customers did you have in 2023, and how many targets did you reach in the next period,
20:16 especially since you started at a very large expansion stage in 2013?
20:21 In fact, the number of customers in the last statement was 165 million customers,
20:28 and this is not only the customers we added in the last quarter, which we will announce next week,
20:34 but also the customers of PPF Telecom, which is located in Eastern Europe,
20:40 which we are waiting for the end of acquisition,
20:43 we are waiting for the last approval, God willing, in the coming few weeks,
20:47 and I think we will reach 200 million.
20:51 But we also have customers for Kareem,
20:55 we have customers for Starsplay,
20:58 and maybe in the next period we will start talking as a group,
21:01 because there are customers in these companies,
21:04 in countries that we do not even work in, in the telecommunications sector, only in these areas.
21:08 And from telecommunications to the banks sector this time,
21:13 and what the head of global markets said to the Bank Abu Dhabi Group,
21:17 the first, allowed the government to say that the bank was one of the first banks
21:23 to enter the carbon trading market,
21:25 and also confirmed that the bank has green bonds and is trading at the value of $ 2.9 billion.
21:33 The Bank Abu Dhabi was one of the first banks to enter the carbon and trading market,
21:40 we entered the voluntary and compliance market,
21:44 and thank God, we traded on both markets, on voluntary and compliance.
21:51 Compliance is a market where there are regulators and regulations,
21:57 and we are on three exchanges,
22:00 and this is the last one we have, and we have done our first trade on it.
22:04 Voluntary is a new market, and the name voluntary is a voluntary,
22:09 and the Bank Abu Dhabi is one of the leading banks that are now developing the voluntary market.
22:15 We have seen bonds in the last period,
22:17 what is the value of the bond in the next period?
22:20 Of course, we have seen the green bonds,
22:24 their trading has doubled in size,
22:27 and at the same time, we have seen that this year there is a trend not only for green bonds,
22:32 but also for green bonds and bonds,
22:34 and the Bank Abu Dhabi now has outstanding about $ 2.9 billion,
22:39 and in green bonds and bonds, about $ 350 million.
22:47 What will the carbon market be like in the next period?
22:50 Because some people were saying that the prices are lower than they should be in the current period.
22:56 Of course, everything depends on the regulations and the changes that are in it.
23:01 Of course, we now see that the countries that are the ones that are going to be issued,
23:06 have higher prices, but of course, the regulations are always changing, always changing.
23:11 So, it is a positive thing, and we see a little volatility in the market,
23:17 but of course, it is the market that will shine more in the future,
23:20 and we are optimistic about it, God willing.
23:22 So, our viewers, we come here to the end of the market with the high-risk closures
23:33 for the Gulf markets, except the Abu Dhabi market.
23:36 Thank you for watching.
23:38 Goodbye.
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