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00:00Good morning to all of our viewers, and welcome to our show, Before the Bell, on CNBC Arabia.
00:15We have a lot of files that we want to highlight.
00:18We were talking about the global debt that rose in the first quarter of this year,
00:22but I and my colleague, Salah, will also join us in this opening.
00:27Thank you, Noor Saleh, and to our viewers.
00:29We also have a detailed statement regarding the results of the Bank Inglaterra meeting,
00:34in addition to talking about the market value of 50 global companies
00:40that had risen during the coronavirus crisis,
00:44and that was around 1.5 trillion dollars.
00:47We also have data from the Egyptian economy,
00:51and the fluctuation that we saw in the inflation rates in Egypt last April,
00:56which recorded around 32.5%.
00:59This fluctuation is also accompanied by the return of the dollar liquidity to the Egyptian economy
01:05as a result of international funds and the economic reform program.
01:08If we talk in Arabic, Lebanon is currently losing around 1.5 billion dollars
01:15as a result of the economic impacts of the Israeli war on Gaza.
01:32In our news, the President revealed a new report issued by the Institute of International Funding
01:37that the total global debt recorded a record level during the first quarter of 2024
01:44reaching 315 trillion dollars,
01:47which is more than 1.3 trillion dollars higher than the last quarter of last year.
01:55The global debt continues,
01:57and from all sectors, whether large economies or developing countries.
02:01Indeed, Saleh, if we talk about these debts,
02:04which are the main reasons for them,
02:06it is as a result of rising global interest rates,
02:09especially by the central banks.
02:12But the order in which we were talking about remains in the United States,
02:16which is the leader in most countries with debts exceeding 33.4 trillion dollars,
02:23followed by China and then Japan.
02:25Also, the United States was in the first place,
02:28among those whose debts rose significantly compared to the last quarter,
02:33with the first quarter at about 17%.
02:36In addition to Japan, which came in the second place,
02:40with a growth rate of about 4%.
02:42But this time, economies such as India, Brazil, and South Korea
02:48have doubled their debt levels.
02:52Indeed, if we talk about these emerging economies,
02:55especially India, which has seen a surge in its economic growth in the past period,
03:00the main reasons mentioned by the global report in these figures
03:05is that India's debt may reach a size in the coming years
03:10that exceeds India's total local product.
03:13This may also be a result of rising interest rates.
03:16We also have the expansionist projects and plans for India.
03:21In addition to another issue, which is the continuous spending of India
03:25on what is known as environmental and natural disasters,
03:28in addition to economic expansion,
03:30who is the one who presses on India's debt in general
03:34and the pressure on global debt.
03:36But with our expectations for the British Bank meeting,
03:39in addition to a number of central banks,
03:42what is the state of markets and various sectors?
03:46We were talking about expectations for the meeting of the Bank of England,
03:49but according to the economic data,
03:51it is based on market movements,
03:53especially in terms of oil,
03:55and also on the main currencies and gold.
04:00So, our viewers, the most prominent event is the anticipation of the Bank of England decision
04:10in this session, which we will see to what extent there will be,
04:14according to the prices of the markets,
04:16there will be a confirmation of interest rates at 5.25%,
04:20and this confirmation is considered,
04:22which also comes after we have seen there is a kind of sluggishness
04:25in inflation rates in the British economy,
04:28but the extent of the convergence between members of the Monetary Policy Committee
04:31is the main effect.
04:33But the expectations that we have seen,
04:35also for the Economic Cooperation Organization of the British economy,
04:39that there will also be movements,
04:42and also a sluggishness in inflation in the coming year.
04:45We are noticing today the dollar,
04:47in contrast to the sterling,
04:49a kind of calm and sluggishness,
04:51the sluggishness that we have seen in the sterling movement
04:53during the past period.
04:56But the euro, in contrast to the dollar today,
04:59has stable returns of less than 10 points per cent at 1.07.
05:03The most prominent thing we have is the continuation of pressure on the Japanese yen,
05:07which we have seen from government intervention during the past period,
05:10even that there are some sources that mentioned that the Japanese government
05:14has spent nearly 60 billion dollars during the past period
05:18in the process of selling the dollar in order to support the yen.
05:21We are also noticing today the dollar,
05:23in contrast to the sterling movement,
05:25which has stable returns of 105 points per cent.
05:28Moving on to the Asian markets,
05:30and what we are following,
05:32especially from the data of the Chinese trade,
05:34and the achievement of the interest rate in the Chinese trade balance,
05:38and the results of the numbers,
05:40during the month of April,
05:42there were 72.3 billion dollars.
05:45These numbers are less than expected.
05:48But we have seen, despite the growth of exports,
05:53that they are also less than expected.
05:55Even for the imports,
05:57there was a clear growth of 8.4% during the month of April.
06:02We are noticing a kind of discrepancy in the movement.
06:04Composite Index has gained 10 points per cent.
06:07In Japan, there were also some important data,
06:10especially in relation to the decrease in wages,
06:13which recorded nearly 2.5% on an annual basis in March.
06:16Therefore, this decrease, which comes in the month of April,
06:19on an annual basis,
06:21on slight increases of nearly 45 points per cent,
06:25is added to the index.
06:27As for the movement on oil prices,
06:30how it is, in light of the economic data from China,
06:34we are noticing today an increase of 14 points per cent on Brent oil.
06:38Also, for American oil today,
06:42on gains of half a point per cent,
06:44in relation to the continuation of geopolitical tensions.
06:47Even the pressure that we saw yesterday
06:50was in line with the rise of American reserves.
06:53Moving on to gold,
06:55and also what we hear from important statements
06:58from the US Federal President in the United States,
07:01we are noticing that there are also expectations
07:03that the US Federal Reserve may not need
07:06a decrease in interest rates.
07:08This gave some support,
07:11a clear support for the dollar,
07:13and even for the US bonds.
07:15We are noticing gold today on gains of nearly half a point per cent.
07:19Copper also on gains,
07:21and platinum and silver.
07:23These gains come on the main metals,
07:25in light of the positive data that we see from China.
07:29Returning to the future contracts of the US markets,
07:33we are noticing a kind of regression.
07:35Some of the gains achieved by the US index
07:38in the daily gains series recorded by the Dow Jones
07:41is the largest since last December.
07:54Moving on to our headlines,
07:56let's take a look at the Bank of England.
07:58Expectations of stabilizing interest rates
08:00at 25.25,
08:02where investors in Britain are likely to win.
08:05The Bank of England has established
08:07a stabilizing interest rate in its daily meeting.
08:10This is at its highest level
08:12since 16 years,
08:14at 5.25% in its meeting on Thursday.
08:19Markets have already started pricing
08:23a decrease in the Bank of England's interest rate
08:27in September.
08:29There is a situation of division
08:31within the Monetary Policy Committee.
08:34Some see that after stabilizing today,
08:37in the future,
08:38we will be close to some data
08:40indicating a decrease in the interest rate,
08:43while others see that it is too early.
08:45Indeed, Salah,
08:46if we look at the last meeting of the Bank of England,
08:49there were nine members
08:51who were in favor of stabilizing interest rates
08:54in exchange for one member reducing interest rates.
08:57But if we look at these rates,
08:59interest at 5.25% is considered the highest
09:03in almost 16 years.
09:05Therefore, we noticed a slowdown in interest rates
09:08and expectations of continuing
09:10this decrease in interest rates.
09:12As a result, the Monetary Policy Committee
09:14regained greater confidence
09:16in the Monetary Policy Committee of the Bank of England.
09:19Therefore, this matter also supports
09:21confidence in the Monetary Policy Committee
09:23in reducing interest rates,
09:25as well as the expectations of the rating agencies
09:27and international organizations
09:29that we may see more decrease in interest rates.
09:31Therefore, Andrew Bailey,
09:33Bank of England governor,
09:35said earlier
09:37that England now has strong data and evidence
09:40on the issue of inflation
09:42and the approach to the 2% rate.
09:45He also suggested to the Bank of England
09:47what is happening in the United States
09:50in terms of any increase in inflation rates.
09:53But the main reason for this dip
09:56that the British economy witnessed
09:58is the result of a decline in the energy bill,
10:00with the decline in energy prices,
10:02in addition to what the British economy
10:04expects from the elections
10:06and what will happen to the economy
10:08in the coming period.
10:10Especially in the issue of taxes
10:12that the British government wants to reduce.
10:15But there is another news,
10:17and always with the crisis
10:19between the European Union and Russia,
10:21where the countries of the European Union
10:23reached an agreement that the principle
10:25is to use the Russian frozen assets
10:27in the Union,
10:29in order to arm Ukraine.
10:31Russia has warned the European Union
10:33of this,
10:35confirming that the decisions
10:37related to the principles
10:39will have serious consequences.
10:41We use the Russian principles in Europe
10:43to arm Ukraine.
10:45We open a new door.
10:47With all certainty.
10:49Even in light of the losses
10:51that Ukraine recorded
10:53as a result of the destruction
10:55of the infrastructure,
10:57this may be a compensation
10:59for Ukraine after the war
11:01and the use of this money
11:03in the reconstruction of Ukraine.
11:05But also,
11:07the Russian media agency estimated
11:09that the losses of the West
11:11from the principles and investments
11:13may reach about $288 billion.
11:15Moscow also said
11:17that the countries of the European Union
11:19own more than $223 billion
11:21of these principles,
11:23of which $98 billion
11:25is officially owned
11:27by Cyprus.
11:29These principles belong to Europe
11:31and may be exported
11:33for the benefit of Ukraine.
11:35Even Russia is pointing out
11:37that there are also
11:39a number of European and American
11:41principles in Russia.
11:43In the case of the Russian principles
11:45in Europe,
11:47we will go to Russia
11:49and export the European properties.
11:51It has an initiative.
11:53But let's go back this time
11:55to the Financial Times.
11:57In the latest report,
11:59it indicates that
12:01$1.5 trillion is the loss
12:03at the end of 2020
12:05for 50 companies that achieved
12:07record profits during the Corona pandemic.
12:09During the Corona pandemic,
12:11many sectors benefited,
12:13especially related to
12:15social media networks
12:17such as companies like Zoom
12:19and e-games.
12:21In this report,
12:23the company that benefited the most
12:25is Tesla.
12:27It seems that Elon Musk
12:29is constantly looking for
12:31a way out.
12:33On the other hand,
12:35some companies
12:37like social media
12:39benefited a lot,
12:41especially e-games.
12:43During the lockdown,
12:45there was a search
12:47for entertainment
12:49inside the house.
12:51But Tesla, in your opinion,
12:53what was its role?
12:55We are always talking about
12:57the luxury sector and
12:59electric cars.
13:01Tesla provided a kind of luxury
13:03for some tech companies.
13:05This supported their will
13:07during the pandemic.
13:09But there may have been losses
13:11in the sales of electric cars
13:13during this period.
13:15Let's talk about news
13:17related to the Lebanese economy.
13:19In our other reports,
13:21we noticed that
13:23cryptocurrency exchanges
13:25in Japan
13:27and Coincheck
13:29are gradually
13:31being established
13:33in Wall Street.
13:35This gives credibility
13:37and openness
13:39through the
13:41cryptocurrency
13:43investment boxes.
13:45This will be the second
13:47step for those
13:49who are interested
13:51in cryptocurrencies.
13:53The Japanese cryptocurrency
13:55stock exchange
13:57completed its first
13:59year in Nasdaq
14:01through the merger
14:03with ThunderBridge.
14:05During the second
14:07and third quarters,
14:09Nasdaq stock exchange
14:11may be strengthened
14:13and more stable.
14:15Although the Japanese-American
14:17alliance
14:19allowed trading
14:21in cryptocurrency
14:23exchanges,
14:25the Japanese
14:27focus on
14:29the American ally
14:31in economic
14:33operations.
14:35Is this a sign of cutting
14:37China's way
14:39to cryptocurrencies?
14:41Yes.
14:43The Japanese
14:45and American
14:47exchanges
14:49in Japan
14:51and Coincheck
14:53are gradually
14:55being established
14:57in Wall Street.
14:59The Japanese
15:01and American
15:03exchanges
15:05in Japan
15:07and Coincheck
15:09are gradually
15:11being established
15:13in Wall Street.
15:15The Japanese
15:17and American
15:19exchanges
15:21in Japan
15:23and Coincheck
15:25are gradually
15:27being established
15:29in Wall Street.
15:31The Japanese
15:33and American
15:35exchanges
15:37in Japan
15:39and Coincheck
15:41are gradually
15:43being established
15:45in Wall Street.
15:47The Japanese
15:49and American
15:51exchanges
15:53in Japan
15:55and Coincheck
15:57are gradually
15:59being established
16:01in Wall Street.
16:03The Japanese
16:05and American
16:07exchanges
16:09in Japan
16:11and Coincheck
16:13are gradually
16:15being established
16:17in Wall Street.
16:19The Japanese
16:21and American
16:23exchanges
16:25in Japan
16:27and Coincheck
16:29are gradually
16:31being established
16:33in Wall Street.
17:03With high
17:05expectations and
17:07growing exports
17:09by 1.5%
17:11in the Arab markets
17:13and market value
17:15exceeding 5.5 billion
17:17Dirhams.
17:19Dubai welcomes
17:21Spenis after
17:23the opening.
17:25In Egypt, the central
17:27equipment for filling and
17:29accounting declares
17:31an increase of 32.5%.
17:33an increase of 32.5%.
17:35This is the most important
17:37issue of the day.
17:47We will now
17:49focus on the
17:51share of the day
17:53that we chose for you
17:55in the American markets
17:57and a technological share
17:59of the day.
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24:05In the other news, there are three Arab countries whose economy has collapsed in the past five years.
24:14And if we are talking about these Arab countries, Sudan, which was damaged, especially from the civil war that was during the past period.
24:21And if Sudan was really suffering from this economy, from high inflation rates, and even for the economic components and interests related to the state budget.
24:32In addition to all of Yemen and Iraq, there are three Arab countries on the top ten list of economies whose growth rates have collapsed in recent years.
24:44So, Salah and our viewers, the minutes separate us from the ringing of a new bell in the Dubai market.
24:50And if we are talking about Spenis, which is considered the second bell in the Dubai market in 2024.
24:56And the Arab CNBC will be with the moment of the ringing of the bell and what follows in detail.
25:01Thank you for watching.
25:03Goodbye.