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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)