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00:00Good morning to you all, before we begin our morning show with the international and Arab news.
00:18The Energy Agency is reducing its expectations for global oil demand in 2024.
00:26I'm Salah and my colleague Sally. Good morning.
00:29Good morning, Salah, and good morning to our viewers who tune in every morning to our show Before the Bell.
00:36Today, we will focus on important technology issues, such as Apple's new releases,
00:42and on the Chinese side's response to an American decision regarding this application.
00:49For details.
01:00First, let's start with the energy sector and what the U.S. Energy Agency has said about its expectations
01:11for production in areas outside the oil-exporting countries and outside the OPEC.
01:18We are also noticing that this is happening in light of the statements made by the U.S.
01:24regarding global oil demand.
01:26There are several factors.
01:27Also, the competition outside the framework of the OPEC-Plus alliance countries,
01:31which we have seen in the past period, in reducing the willingness to produce by the end of the second quarter of this year.
01:37It seems that the U.S. and Brazil are critical of this increase.
01:40On the other hand, some of the major economies in Europe will reduce their demand for oil by 2024.
01:53The Energy Information Administration says that the total global production of crude oil and liquid fuel
01:59will increase by 970,000 barrels per day,
02:04up to more than 100.2 million barrels per day, compared to the previous estimates,
02:10which were talking about an increase of 850,000 barrels per day.
02:15You may notice that the agency sees a new flow of oil, perhaps,
02:20without the traditional markets known as the OPEC.
02:24Indeed, this competition that we find, especially also by the demand that we have seen in the past period,
02:31has reduced the agency's estimates of production of crude oil and liquid fuel in the past year
02:38to more than 101 million barrels per day,
02:41which is more than 101,800,000 barrels per day in the previous period of this year.
02:47Therefore, it is expected that the global consumption of oil and liquid fuel will increase by 920,000 barrels per day.
02:54We have noticed, Salah, that the Asian economies are re-emerging,
02:59especially with the efforts of the Chinese government to support the Chinese economy.
03:04The boom that we have seen in the Indian economy may also spur Asian markets' demand.
03:10Indeed, this boom may increase the demand for oil in general.
03:15The International Energy Agency says that the oil prices in 2024
03:20will remain at $90 per barrel.
03:24But what about the oil movements and the rest of the international markets?
03:28We were talking about oil movements,
03:30but there is still a contradiction between OPEC reports and the Energy Information Administration reports
03:35about the expectations related to global demand.
03:38OPEC says that there will be more flows and more demand.
03:41So it is a contradiction, but what determines the course is really the oil prices,
03:45which we will read the details of now.
03:51OIL PRICES
03:56So, our viewers, this time we are looking at the oil prices,
04:00and we are noticing a reversal of the red line in the reviews,
04:04and also about half of the water point that we are seeing now on Brent oil,
04:09and also on American oil, about half of the water point.
04:12This is the review that also comes in light of the data of the U.S. reserves,
04:17which rose in the past week, and which recorded about 509 million barrels.
04:23Therefore, this confirms the weakness of demand also,
04:26even on gasoline products and other fuel products.
04:30As for the movements that also come in light of the statements that we hear this week
04:36from members and US federal presidents in several states,
04:41and this time as far as the statement of the federal president in Minneapolis,
04:45Neal Kashkari, who said that the U.S. federal government may not need to lower interest rates this year.
04:52This contradiction in these statements had a clear effect on how the movement is,
04:57starting with gold and these statements and their effect.
05:00We are noticing today an increase of a quarter of the water point,
05:04which also goes back to the gains from some of the pressure that we have seen on gold
05:09as a result of the allegations that it is related to lowering interest rates.
05:14But we feel today that the gains are clear after the increases that we have seen
05:19and have touched its highest level in the past two years.
05:22Moving on to the main currencies,
05:24and to see how much the reaction to these statements that we hear has been.
05:28We are noticing the euro in exchange for the dollar,
05:30on the dollar index reversals at levels 105.
05:33Therefore, we are also seeing the increases that continue on the dollar in exchange for the yen,
05:38despite the incentives that we have seen by the Japanese government
05:42to lift the reversals that were on the yen after we touched its lowest level in 34 years,
05:47but it remains in this session at levels 155 yen to the dollar.
05:52The Australian dollar today on reversals after the confirmation that we have seen
05:56by the Central Australian Bank of interest rates for the fourth time in a row.
06:01We also return to the movement that we see on the rest of the Asian markets.
06:07We are noticing a kind of convergence,
06:09but the Chinese markets today are moving away from the highest levels they have recorded in six months.
06:14Therefore, there is a kind of calm and light rise at 10 points.
06:19CSI 300 at 13 points.
06:22Light reversals so far in this movement of this session.
06:26The Korean share at a quarter of a point.
06:29We also have the most prominent in China and also in the Japanese markets.
06:34We have seen more than 600 points of reversals in this session,
06:38despite the benefits that were in the past days,
06:41which were in rises that were supported by the pressure and the reversals that were on the yen.
06:47Today's reversals are at 11.16 points on Nikkei.
06:51But the most prominent was that there were business results for a number of companies,
06:55especially in the car sector, if we talk about Toyota,
06:58which grew its profits by more than 78%.
07:01As business profits grew during the first quarter of this year,
07:04the company benefited from the weakness of the yen, in addition to the growth of its sales.
07:08Moving on to the upcoming US markets,
07:11after the highs we have seen on Dow Jones,
07:14which recorded the longest series of profits in 2024.
07:17For the fifth session on the trend,
07:19we are witnessing a kind of convergence and somewhat light reversals.
07:23Stay tuned for the rest of the company's business results.
07:32In our topics,
07:34AstraZeneca's vaccine against the coronavirus is currently being pulled from all corners of the world.
07:42After the company admitted that it could cause rare and dangerous side effects,
07:48and that it is no longer possible to use this vaccine,
07:52this vaccine has been brought to the United States.
07:57This vaccine has been brought to the European Union in Europe in general
08:01and is expected to be brought to Britain and other markets.
08:04There is also a note regarding this news.
08:07There were previous reports that were made by the company
08:10that this vaccine had side effects and also had other dimensions and effects
08:15through the people who received this vaccine.
08:18Therefore, there are some symptoms that appeared on some of the people who received this vaccine.
08:23But the most prominent in some of the statements that the company mentioned
08:28is that the reason for the withdrawal of this product is due to commercial reasons
08:34and not for manufacturing reasons or reasons that are medically related to the details of this vaccine.
08:41It may have arisen from the subject,
08:43especially since there are about 50 people who filed a lawsuit against the company
08:48after the results of this vaccine were generally shown,
08:52and the side effects of this vaccine,
08:55especially for the elderly,
08:57related to causing some blood clots,
09:00as well as a decrease in the number of blood vessels.
09:04But maybe now whoever took this vaccine,
09:08how at least will be its psychological reaction,
09:11especially since the company says there is no need for panic and fear.
09:14The company seems to be calm,
09:16but it seems that the news arouses fear among the people who received this vaccine.
09:22Moving on this time,
09:24we return to the files of the Chinese-American conflict,
09:27and the technology sector is still in control of the war between the two largest economies in the world.
09:33This time, if we are talking about the cancellation of the US Department of Commerce,
09:37some licenses that allow companies to ship goods such as
09:42to manufacture mobile phones.
09:44The breakthrough today is a new production
09:46carried out by Huawei for a mobile computer,
09:49and therefore the specifications include the installation of US industrial licenses.
09:54These licenses that this Huawei computer includes
09:58are what affected the Republican Party in general in the United States,
10:03and they all went to the call for the presentation of these licenses
10:08in the United States to manufacturers in China in general.
10:14Huawei said that the suppliers benefited a lot from this company in the United States,
10:22and today most of them are against these decisions.
10:24Indeed, the reaction was this time,
10:27but the breakthrough is waiting for the appearance of this Chinese product
10:31until the release of the current laws.
10:35But we also noticed during the past period
10:37the reaction of the shares movement in the Asian markets.
10:43In the case of any decision related to the presentation of licenses for these decisions,
10:48with its direct impact on the technology stocks in the Asian markets,
10:51the reaction was clear between the two parties.
10:54Of course, the United States, with this presentation since 2019,
10:58it returns the matter to technical reasons in addition to political and security reasons.
11:03You see that these Chinese devices may reveal their data
11:07to the general public of the United States.
11:11But from Huawei to TikTok after the event, now the reaction of the event.
11:16This time, China may not raise TikTok
11:21this time with a judicial call against the United States government
11:24in an attempt to stop the implementation of a bill that was passed in April
11:29in an attempt to force the owner of the Chinese app to sell the app or its presence within nine months.
11:34But Salah, if we were talking about this presence today,
11:38if the President of the United States, Biden, created an account on TikTok,
11:42how does this decision come when you have this account?
11:46TikTok has about 150 million active accounts in the United States.
11:51TikTok's revenue from this application in the US market
11:56exceeded $16 billion annually,
12:00and so there was even a case of cutting and a case of rejection of this matter.
12:06We know that a number of celebrities in this program are earning,
12:11that is, they almost have a desire for this application.
12:14So how do you do this and stop this desire for them?
12:19And perhaps, if the US attempts this time to prepare,
12:24if it is on the level of technology and even on the level of other commercial sectors,
12:28but this conflict remains, despite the visits that we have seen, Salah,
12:32in the last period between US officials to China,
12:35attempts to open the doors.
12:37And this time we find that China, the Chinese president,
12:40went to Europe to visit after five years.
12:42Perhaps this may work on some things,
12:45and also related to commercial conflicts.
12:48But we stay in the technology sector,
12:50and also to the new products,
12:52especially from the big producers and Apple this time.
12:55This time Apple announced its new iPad Pro,
12:59which is the thinnest product of this company,
13:04with a size of 11 inches,
13:07and thus surpassing all thin devices with light weight,
13:12in addition to Apple's reliance on an M4 chip,
13:15which is an amazing leap for the nature of the chips it offers.
13:20But the highlight this time is the content of the device,
13:23on intelligence and artificial intelligence systems.
13:26A lot of Apple is accused that it did not open much on the investment of artificial intelligence.
13:31The current situation that we find today is in the partnership,
13:34especially in relation to the artificial intelligence sector,
13:37and its entry into all sectors.
13:39Today, the entry for the chip will be for the new iPad Pro.
13:43The new iPad Pro is more powerful than the previous models.
13:46We also notice that this new product is four times more powerful than the previous model.
13:55The company mentioned that this display is the most powerful display called OLED,
14:03which is also the same technology used in previous Apple devices,
14:08in the iPhone devices.
14:10The company also made it clear that the screens called Ultra Retain XDR are also about these devices.
14:20This new type of devices is an attempt to integrate developments and enter artificial intelligence effectively.
14:27The price of one device is approximately $999,
14:33with a large storage space, in addition to some improvements in artificial intelligence systems,
14:40but from technology to football.
14:43But in another area, not in the competitive sector,
14:46where Darajot announced to Mazda in France
14:49that the Golden Ball Award,
14:51won by the legendary Argentine footballer Diego Armando Maradona,
14:56which he won in 1986,
15:00will be sold in public auctions.
15:03Of course, it is said that he is the greatest footballer,
15:06but the difference is in the story of this golden ball,
15:09which was stolen from the bank in Naples.
15:1335 years have been hidden for this ball,
15:17and it is due to the theft of a gang in Naples of this golden ball,
15:22which was also the difference in its story,
15:24Salah, that this ball was obtained.
15:27Ronaldo and Maradona also won this ball.
15:32It is also said that on the day of this match,
15:35it was said that the goal that was achieved entered by hand,
15:39and perhaps he said that the hand of God is the one who entered this goal.
15:44It is true that it was stolen years later,
15:46and not during the match,
15:48but the idea of this golden ball is also that
15:52one of the hobbies is to buy tickets,
15:57and he bought it for a very low price,
15:59but two technicians discovered that this ball is the stolen golden ball,
16:04about more than 30 years ago,
16:07and today it will certainly be sold for incredible amounts.
16:10If the initiative is successful,
16:12and also after its disappearance for 35 years,
16:14we will see to what extent this cost,
16:17and to what extent it will work to raise a lot of money in this increase.
16:20True, but it remains one of the greatest football players.
16:23So, from the goal of the stadiums to the goal of the markets,
16:26and what we are also waiting for in our markets today,
16:28and orders before trading after a while.
16:44And to the arrow of the day,
16:46we chose for you this time the American arrow,
16:49this time Walt Disney,
16:51which appears to lose $ 20 billion in the 7th session of May.
16:56But what are the reasons?
16:57Tell us the details of this matter.
16:59Salah, I mean, the results of the company's business,
17:01or maybe also the things related to entertainment.
17:04I mean, in your opinion,
17:05there was a surge in the entry of these entertainment cities to Disney.
17:08True, and this is what appears in the financial data,
17:11and the biggest surge came from a large decline in revenue
17:15in the entertainment sector through the Internet,
17:18and then it pressured the revenues greatly.
17:20Maybe inflation and high prices as well.
17:22It seems that people have moved away from entertainment a lot.
17:25And focus on the basics.
17:26True, on the details.
17:27So, Walt Disney's share ended up in a decline of 10% yesterday.
17:32The levels are the lowest for this share since three months,
17:36and the company has stopped trading
17:38and lost about $ 20 billion from its market value.
17:42The reason goes back to the revenues,
17:44which declined to about $ 22 billion in the financial data,
17:49as a result of the decline of the company's traditional television business,
17:54in addition to the decline in revenue from the entertainment sector through the Internet.
17:59And so it is what went in the 7th session of May for this company
18:03to lose $ 20 billion from its market value.
18:07Let's see the market.
18:17So, viewers, a situation of exchange was in the Gulf markets
18:20during the trading session yesterday,
18:22but the factors are different,
18:23but the results of the company's business are still in the UAE markets.
18:27In addition to the Kuwaiti markets,
18:29the markets are ready to react positively,
18:34especially with the Arab regions in which the indicators are moving.
18:38Indeed, there were also strong movements and strikes in the Qatari market,
18:42but the CNBC Arabic broadcaster network came out on the details
18:45and orders before the trading session.
18:47And now we go to say good morning to you all,
18:51and I start with you, Moammar.
18:53May God bless your morning.
18:54Today, the Qatari indicator reached 9600 points.
18:59We will see to what extent it will be able to hold on to these levels
19:03after the strong strikes in the session yesterday.
19:08Of course, the Qatari market is moving without any data
19:10related to the results of the company's business or even the news of the company.
19:14The striking breath is what is easy on the market.
19:17Speaking of a big recovery,
19:19it seems that this bet has fallen through the last two sessions
19:23in which the indicator has recovered at a record level
19:26and lost a level of 9600 points.
19:29I think we are waiting for the results of the review of yesterday and next week
19:34and the strikes that are blackening the situation now and the process of recycling.
19:39Other than that, we can't talk about any recovery in the Qatari market in reality.
19:43Thank you, Moammar.
19:44From Doha to Kuwait.
19:47Osama, is today's indicator of retreat or decline?
19:52Yes, good morning, Salah and colleagues.
19:57I think the picture is not far from what Moammar mentioned.
20:01The market is also lacking real conservative data.
20:06Even the financial data that comes out following the first quarter
20:10does not seem to have a great effect.
20:12The suspension of public associations every day also has no effect.
20:16God, maybe more rectification and pressures.
20:20The two indicators, the public and the first, stand.
20:25In my opinion, there are some points of concern.
20:2826 points only separate the public stock indicator from the decline below 7000 points.
20:35And about 45 points may fall with the first market indicator to below 7600.
20:42And we were hoping that it would recover to 7700.
20:46So I think, yes, the market is in a state of concern.
20:49But if we do not see strong liquidity and strong establishments on the first-class leadership,
20:54the public stock indicator may not be able to recover.
20:57Yes, Osama.
20:58And let's move on to NADA this time.
21:00There is a huge surge in the results of the companies' work.
21:03We were talking about Dana Gas and Taxi Dubai.
21:05Let's see how the interaction with these results is today.
21:11Good morning, Salih and colleagues.
21:13But first, Salih, the situation in the UAE markets is also very different from what Moammar mentioned.
21:18There are a number of types of transactions and strike transactions that appear on many stocks.
21:24And we have seen this during the past period.
21:26Also, the narrow horizontal movements and the variation in the performance of the stocks in the sectors
21:31is a constant case over the past few weeks.
21:34And it does not appear during this week's sessions.
21:37I mentioned the results of the companies' work.
21:39Taxi Dubai rose by 15%.
21:41Dana Gas declined by about 24%.
21:44Of course, each company translates the sector in which it operates.
21:47Dana Gas was affected by the price decline.
21:50As a result, the company's profits declined.
21:52And let's not forget that this company has many open files.
21:55It was targeted by Khormor during the past period.
21:58According to the company's statement this morning,
22:04it may affect Khormor 250 development works.
22:06In contrast, Taxi Dubai has risen by about 4% since the beginning of this year.
22:15Yesterday, both companies were translating the results.
22:19Dana Gas declined by less than 1%.
22:22And Taxi Dubai rose.
22:25We also have many results of the maritime strike transactions.
22:28And many companies will meet today.
22:30Barkin, Amlak, Adnok for distribution, and other companies
22:36that will explain the results of the previous quarter's transactions.
22:39Thank you, Nada.
22:41You were with us from Dubai's financial market.
22:43We have with us Muammar Awad from Qatar's stock exchange.
22:46And Osama Rasheed from Kuwait's stock exchange.
22:57Salah, before we go to the social media platforms,
23:02we will focus on AI.
23:05Elon Musk said that when you are able to talk to everyone,
23:10you will have a great friend.
23:12It is difficult to say whether AI will be a substitute for humans,
23:16especially in times of sadness and happiness.
23:19Will AI provide it?
23:21It may be a window to a bubble, as they say.
23:24Maybe, if you don't trust someone else, you will bubble.
23:27This will lead us to the other news,
23:30which is not far from this topic.
23:33What is the first airline in the world that uses AI?
23:37It seems that the competition is in all fields.
23:39Of course, and this also provides us with the operating costs
23:44and the large number of employees in this sector.
23:48It may also be an opportunity to provide more information
23:51to passengers during flights.
23:53But in the last topic, with our colleague Randa Khasha,
23:57how did Algeria become the third largest economy in the African continent?
24:01Algeria was able to outperform Nigeria
24:04and occupy the third place in several sectors
24:07especially in non-oil sectors, focusing on agriculture and industry.
24:11Of course, it is difficult to specify the reasons for a certain economic recovery,
24:15but CNBC provides this opportunity in a few minutes
24:19to get to know the most important reasons.
24:21So, our viewers, you can follow more details about these news
24:26on our social media sites,
24:28but we come here to the end, before the bell from the Arabian CNBC screen.
24:32Goodbye.
24:36Arabian CNBC