Tell me – Egyptian actress Ilham Shaheen revealed that the director of the office of former Egyptian President Mohamed Morsi threatened her to agree to meet him, but she refused.
Shaheen said during a television interview, that she “decided to confront the battle with the terrorist Brotherhood on behalf of the artists.”
She added: “The Brotherhood fabricated pictures of her and put her face on scandalous photos, and it was later proven that they were rigged.”
She pointed out, “She obtained a historical ruling to close the (Al-Hafiz) channel for a period of 6 months, and a precedent took place for the first time in the history of Egypt, which is the closure of a channel by court ruling, after she filed more than one case on the channel for insulting her on the channel’s screen, pointing out that the broadcaster who had insulted her accompanied A number of veils on the channel’s screen showed her some forged images that were falsely claimed to be a professor at Al-Azhar, but Al-Azhar University sent to the court evidence that he was not a faculty member and was imprisoned during the Morsi era.
She stressed that “Mohamed Morsi tried to attract the artists and act with politeness with them, but it did not succeed, stressing that the director of Morsi’s office tried to contact her a lot to inform her of Morsi’s desire to meet her.”
She explained that the director of Morsi’s office threatened her, saying: “If we want we, we will answer you,” adding that she said to him, “If you talk to me again, he will report about you,” and his response would be, “You are reporting about who, O Madam, we are the state.”
She stated that she had told Egyptian President Abdel-Fattah El-Sisi after the success of the June 30 revolution, that “she was about to commit suicide” at the time of Chancellor Adly Mansour taking over the country after the Brotherhood was overthrown, pointing out that the Egyptians dazzled the world on June 30.
Mohamed Morsi had assumed his duties on June 30, 2012, and he was removed from his position on June 30, 2013 after demonstrations invaded the country calling for his departure and imprisonment since the date of his isolation, until his death on June 17, 2019, after several charges were brought against him, including communications with Qatar, Hamas, and disclosure. National Security secrets during his presidency
Oil prices rose more than 1% on Friday, to reinforce the gains achieved in the previous session, after it pledged to the middle of OPEC allies to fulfill pledges for the reduction of supplies, dealers said two large for the demand is recovering well.
Futures rose crude measurement global Brent 61 cents or the equivalent of 1.5% to 42.12 per barrel, the highest level in more than a week.
Stepped up crude oil futures-West Texas Intermediate US 60 cents or the equivalent of 1.5% to 39.44 per barrel. Rose rough standard about 2% on Thursday and move towards achieving a weekly gain of about 9%.
Received market support plans for the Kazakh, to compensate for production plus in May about their commitments to reducing supplies. Came promises during a meeting of the committee monitors compliance with the members of the organization of Petroleum Exporting Countries (OPEC) and its allies, known as the group of OPEC+.
Said Jeffrey Halley the local market have OANDA’s prices seem to “follow-up at those levels, as it ignores the oil markets to concerns that revolve around other asset classes at the moment.”
He added, “This indicates that prices are receiving support from the buyers present which is welcome as it means that the demand situation in the world is recovering, with consequent effects on economic growth”.
He said the bank er.The.Z the comments issued by my company oil trading the global Vitol Vitol and Trafigura, on the rebound, oil demand in June, reported by Bloomberg, also provide support to the market.
Over the past week, funds from developed countries lost about $ 12 billion of investments, emerging markets funds lost almost $ 4.5 billion. International investors are withdrawing from their restored value in anticipation of a global economic downturn. Enviable stability is demonstrated by Russian funds, interest in which is supported by positive dynamics in oil prices and upcoming dividend payments.
International investors have stepped out of stocks, according to Emerging Portfolio Fund Research (EPFR). According to Kommersant’s estimates, based on Bank of America data (taking into account EPFR data), for the week ending May 6, customers of all equity funds took away $ 16.3 billion. This result is 2.5 times more than the week-ago indicator and the maximum since the end Martha. At the same time, the main outflow of funds fell on the funds of developed countries. According to EPFR, it exceeded $ 11.7 billion, which is 3.5 times more than a week ago. Most actively, investors withdrew money from US funds – according to EPFR, about $ 9.3 billion was taken from US funds, almost six times more than a week earlier. The outflow from European funds slowed from $ 2.7 billion to $ 1.8 billion.
In less than two months, thanks to massive financial support from the central banks of leading countries, stock indices have recovered a significant part of their losses. So, the S&P 500 index won back 60% of the March fall, and the MSCI EM index – over 40%. According to Valery Vaysberg, Director of the Analytical Department of the Region Group of Companies, global stock markets have achieved the goals of corrective movement and now investors are taking profit.
At the same time, concern about weak macroeconomic data published in various countries is only growing.
In particular, unemployment in the US in April rose to a record 14.7%, that is, 20.5 million people lost their jobs in a month. According to Ravil Yusipov, Deputy General Director of the TFG Management Company, after a quick rebound, many investment houses made statements that the stock market is in the largest discrepancy with the forecasted profit levels and its multiples look unreasonably high. “There is growth in quantitative terms, but the quality of growth is low,” notes Mr. Yusipov.
Prospects for reducing demand from developed economies lead to the withdrawal of investors from the markets of developing countries. According to EPFR, in the reporting week, funds whose investment policy is focused on emerging markets lost almost $ 4.5 billion against $ 3.4 billion a week earlier. The largest outflow of funds in the BRIC countries came from the funds of China ($ 1.5 billion) and Brazil ($ 328 million).
Russian funds stood out from the overall picture, the net inflow of which amounted to $ 16 million per week (a week earlier, $ 5 million was withdrawn from them).
Analysts attribute the interest shown to the recovery in oil prices. According to Reuters, quotes for the nearest Brent oil futures have been holding at $ 30 per barrel for a week already. The cost of Russian Urals oil is around $ 25 per barrel. In addition, investors expect dividend payments for the year for Russian issuers. “The Russian market pretty well experienced the April fall in oil prices, not least due to the expected payment of high dividends for 2019 and the activity of local investors. Forecasts on the profits of the largest issuers, although they suggest a significant decrease, remain positive, which allows counting on dividends for 2020, unlike many foreign companies, ”says Valery Vaysberg.
Further development of the market situation will be determined by the generosity of leading financial regulators. In particular, market participants do not exclude that the US Federal Reserve, following the example of the ECB, may for the first time in history lower its key rate below zero by December this year. This is evidenced by futures on the federal funds rate. “The money wall from global regulators is able to give confidence to investors. Russian stocks remain attractive – oil prices have moved away from the lows, and the securities themselves look cheap as a result of the weakening ruble, ”said Ravil Yusipov. However, according to him, so far “the current inflow into Russian funds looks more like a niche than a long-term trend.”
Analysts at Moody’s credit ratings agency said Friday that the impact of the outbreak of the Corona virus will exacerbate the perceived slowdown in the growth of India’s economy, as the country is expected to record 0% growth in the current fiscal year.
The agency said it expects India not to see growth in fiscal year 2021 and to revive again to 6.6% growth in gross domestic product in fiscal year 2022, while the budget deficit is expected to rise to 5.5% in GDP in fiscal year 2021 compared to a budget estimate at 3.5%.
She added in a report that the spread of Covid-19 disease in the country “will greatly reduce the chances of permanent financial control.”
In November, Moody downgraded the outlook for India’s Baa2 credit rating to “negative” from “stable” due to slowing growth and said it would closely monitor the country’s debt levels.
The Baa2 level is the second lowest investment grade.
Moody’s said that if nominal GDP growth does not return to high levels, the government will face very large restrictions in filling the budget deficit and preventing the increase in the debt burden.
India has so far put in place a stimulus plan of 1.7 trillion rupees ($ 22.53 billion) that provides direct financial transfers and food security measures to support millions of poor people, and a second package focusing on helping small and medium-sized companies is expected soon.
Moody’s stressed that the negative outlook indicates that it is unlikely that a lift will be made in the near term.
“We will probably adjust the outlook for stable if we see a significant increase in the likelihood of financial measures to stabilize and increase their strength over time,” she said.
She added that India’s credit downgrade would likely happen “if we expect its financial measures to weaken significantly.”
Oil prices rose today, Friday, and are heading towards achieving gains for the second week in a row, as more continues Some countries are moving forward with plans to ease the general economic and social isolation measures that have been imposed to stop the spread of the Coronavirus pandemic, and as more crude production ceases.
Brent crude rose 76 cents, or 2.58%, to $ 30.22 a barrel by 1330 GMT, after falling nearly 1% on Thursday.
West Texas Intermediate crude oil gained 78 cents, or 3.31%, to $ 24.33 a barrel, after dropping about 2% in the previous session.
The benchmarks are heading for second week gains after low levels in April, when US oil collapsed below zero, with Brent rising nearly 15% per week and West Texas Intermediate US more than 24%.
But crude is still being pumped into stocks, raising the possibility that any gains stimulated by stronger demand will be curbed.
On the supply side, North American oil companies are slashing production faster than OPEC officials and industry analysts had expected, as they tend to withdraw around 1.7 million barrels per day of production by the end of June.
But US crude inventories at the Cushing Storage Center in Oklahoma State increased by about 407,000 barrels in the week ending May 5, traders said Thursday, based on data from Ginescape.
“The market is still experiencing a large oversupply, but OPEC + cuts and voluntary cuts are helping and modest beginnings of a recovery in demand may be imminent as the easing of public isolation measures begins,” said Jason Jamil, equity analyst at Jeffreys.
OPEC + discounts
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, in what is known as the OPEC + group, began implementing a record supply cut of 9.7 million bpd from May 1.
North American oil companies are slashing production faster than OPEC officials and industry analysts had expected, as they tend to withdraw around 1.7 million barrels per day of production by the end of June.
But US crude inventories at the Cushing Storage Center in Oklahoma State increased by about 407,000 barrels in the week ending May 5, traders said Thursday, based on data from Ginescape.
Today, Australia is the latest country planning to ease restrictions on public isolation, as cases of coronavirus have slowed to a minimal level, aiming to ease restrictions on social separation in a three-stage process.
France, parts of the United States and countries like Pakistan also intend to ease restrictions that have been established to stem the spread of the world’s worst health crisis in a century.
In the United States, the world’s largest consumer of oil and petroleum products, motorists are returning to the roads again with the easing of public isolation measures. Gasoline supplies to the US market increased to nearly 6.7 million barrels per day last week, according to estimates from the US Energy Information Administration.
Skoda managed to launch sales of the fourth-generation bestseller in Europe, but there were problems with other markets.
The world premiere of the Czech rival Toyota Corolla, Honda Civic and Hyundai Elantra took place in November last year. At dealers of European car dealerships, the new Skoda Octavia appeared in early 2020. It was assumed that at the same time, the new product will enter other markets, including the Russian one, but Octavia is late.
Cartoq writes that Skoda has postponed the launch of sales a new liftback in India as early as the beginning of 2021. The reason for this decision is related to the coronavirus pandemic and the need for the government to impose quarantine restrictions.
Note that compared to predecessor Skoda Octavia 2020 looks more “premium.” Designers recycled the grille and optics, as well as endowed the front bumper with a chrome strip, which seems to wrap around fog lights.
Lines on the sides the car gives the silhouette swiftness. The “feed” of the liftback also seems more athletic. One cannot fail to mention attractive rims and LED taillights.
Skoda Octavia “grown” in length and width relative to the current version. In the cabin they found a digital dashboard, three-zone climate control, a multimedia system with a 10-inch touch screen and an electric sunroof.
In the engine range will include 1.0- and 1.5-liter gasoline engines with a capacity of 110 and 150 liters. S., which the Czechs combine with the technology of “soft” hybrid. At the top of the gasoline range is the 190-strong 2.0 TSI. In addition, the Skoda should receive diesel versions. A choice of a 6-speed manual transmission and a 7-speed DSG.
Many model fans wonder when to wait for the new Skoda Octavia 2020 in Russia? Initially, it was expected that the car will go to car dealerships at the beginning of the year, then information appeared on the transfer of the date to the fourth quarter. It is possible that Skoda may again “push” the start of sales at the beginning of next year.
The billionaire Berkshire Hathaway and Ran Buffett incurred a net record loss of about $ 50 billion, as the Corona pandemic destroyed its investment in common stocks, but operating profit increased even as COVID-19 was affected by its business.
Berkshire’s first-quarter net loss was $ 49.75 billion, or $ 30,653 a Class A share, reflecting $ 54.52 billion in losses from investments, especially common stock. A year earlier, net profit was $ 21.66 billion, or $ 13,209 a share.
On the other hand, the quarterly operating profit, which Buffett considers a better performance measure, increased by 6% to $ 5.87 billion, or about $ 3,624 a Class A share of $ 5.56 billion, or about $ 3838 per share.
The accounting base requires Berkshire to report unrealized losses and gains of shares with profits. This causes major fluctuations in the net results of Berkshire that Buffett considers meaningless.
The company resorted to accumulating liquidity and buying shares with very small shares, as the cache recorded 137 billion dollars from 127 billion dollars at the end of 2019, while the company spent only 1.8 billion to buy shares and 1.7 billion dollars to repurchase Berkshire Hathaway shares.
It is noteworthy that the Standard & Poor’s 500 Index fell by 20% in the first quarter, but there were sharp declines in several major holdings in Berkshire including American Express, Bank of America, Bank of Wales Fargo, in addition to four airlines: American and Delta, Southwest, and United.
The company said most of Berkshire’s business was affected by the pandemic, with effects ranging from “relatively slight to severe” to date, and corporate earnings deemed “essential” slowed significantly in April.
Deputy Chairman Charlie Munger told the Wall Street Journal last month that some small businesses in Berkshire could be closed entirely.
Heard Wednesday in the Senate, Anne-Marie Couderc who chairs the Air France KLM group, was very clear. The French government’s announcement of massive aid to Air France was a matter of days. She was right. Friday evening, after a board meeting, the state, which owns 14.3% of the Air France KLM group, unveiled its plan to fly to the rescue of its national airline.
The financial envelope is impressive: 7 billion euros will be contributed to Air France in early May. This support will be provided in two ways: on the one hand, 4 billion euros in bank loans guaranteed by the State at 90%; on the other hand, a shareholder advance by the state of 3 billion, which Bercy will draw from the envelope of 20 billion intended for capital operations voted in the framework of the latest amending finance law.
KLM must also receive aid from the Dutch state. We are talking about 2 to 4 billion. But this plan should not be ready for a few days or even a few weeks.
Air France KLM group loses 25 million euros per day
This intervention by the French state in favor of Air France is anything but a surprise. As early as mid-March, the government claimed it would support its flagship company. On April 8, Bruno Le Maire, put the points on the i: “This is not a boost that Air France will need, it is massive support from the Statesaid the Minister of Economy. And Air France will have this massive support from the state. We want to preserve the airline which is a French industrial flagship at all costs.“
There was an urgent need for the State to keep its promise because, in this period when world transport is almost at a standstill, Air France KLM is playing with its survival like others. “A need for liquidity is expected in the third quarter of 2020”, recognized Anne-Marie Couderc on Wednesday. Because even if Air France has an activity reduced to less than 5% of its usual offer and therefore a tiny turnover, its fixed costs (loans to pay for planes, maintenance, personnel costs despite the use of short-time working…) remain huge. As a result, the Air France KLM group is losing 25 million euros a day.
A scenario seems to be emerging which could be a return to the level of activity from 2019 around 2022
Ben Smith, CEO of Air France KLM
Aid from the French government was all the more expected since many other countries have already drawn their plans to save their companies. Singapore bailed out Singapore Airlines. The Trump administration has developed a package of measures for airlines worth $ 50 billion (25 billion in loans and 25 billion in aid).
This contribution of fresh money will be welcome for Air France because air transport is likely to be in turmoil for a long time. “A scenario seems to be emerging which could be a return to the level of activity from 2019 around 2022”, Air France KLM chief executive Ben Smith said in the Senate on Wednesday. This help, the group also counts on it to be able to participate in the consolidation of the sector which, according to Ben Smith will take place “In the world and in Europe.” Clearly, at the end of the crisis, be able to buy companies in bad shape or enter their capital.
If France has been slow to complete this rescue plan, it is for several reasons. First, it had to coordinate with the Netherlands, also shareholders of the Air France KLM group to the extent of 14.3% and with whom relations on the group’s governance are often troubled.
To convince French banks – two of the largest French banks would miss the rescue of space – and international banks, the French government had to guarantee loans up to 90% rather than 70%. Above all, it must make a commitment now, through the shareholder advance which gives guarantees of a future recapitalization. “The involvement of the banks shows their confidence”, indicates a source close to the file.
Hop! under pressure
In return, Air France has committed to making two copies: an economic plan, which must, according to someone close to the case, “Air France one of the most profitable airlines in its category”, and an ecological plan.
The group’s transformation plan presented in November will be “Accentuated”said Ben Smith on Wednesday. Air France’s domestic network, structurally in heavy losses, could be revised downwards. Among the ideas mentioned, reduce the interregional links provided by Hop! and transfer Air France routes from Orly to Transavia, the group’s low-cost subsidiary.
The company will continue to offset 100% of its carbon emissions on all its domestic flights as it has been doing for a few months
This restructuring will join ecological ambition. For the government, the plane is no longer justified when there is a rail alternative in less than two and a half hours (except to power the hub). The company will also continue to offset 100% of its carbon emissions on all its domestic flights as it has been doing for a few months. And it will continue to renew its fleet at the rate planned with planes that consume less fuel. The government needed this commitment: it would have been difficult to lend billions if its flagship company did not make efforts in this area at a time when air transport’s responsibility for global warming was singled out.
The same advice for all files
Two banks – Crédit Agricole CIB and Citi – and a law firm – Allen & Overy – will support Bercy for all of the major “hot” files of the coming weeks and months.
This “horizontal mandate” relates, from concordant sources, to the implementation of loans guaranteed by the State (PGE) to very large companies, and in particular to groups of the portfolio of the State shareholder, as well as to the deployment of 20 billion euros planned – at this stage – for possible capital transactions and included in the just adopted amending finance law.
The PGE procedure for large groups was released last weekend by Fnac Darty (500 million euros, guaranteed by the State at 70%).
The Air France file, closed on Friday, was much more complex. The company is advised by HSBC bank. The state is also supported by the BDGS cabinet for the occasion.
Amazon France has lost the legal showdown engaged by the SUD union. The e-merchant drew the consequences Friday evening, and decided to extend the closure of its French warehouses until April 28. During this period, he will continue to pay his employees in full.
“The decision rendered today by the Versailles Court of Appeal reinforces the idea that the main issue is not so much security, as the desire of certain trade union organizations to take advantage of a complex consultation process with social and economic committees, says Amazon. The penalty, as specified by the Court of Appeal, could imply that even a tiny rate of accidental treatment of unauthorized products, of the order of 0.1%, could result in a penalty of more than a billion euros per week. Unfortunately, this means that we have no choice but to extend the temporary suspension of the activity of our French distribution centers.“
The Versailles Court of Appeal largely confirmed on Friday the decision rendered in summary proceedings on April 14 by the court of Nanterre. Amazon must restrict the activity of its French warehouses to certain categories of products; while waiting to make up for shortcomings related to employee health security.
This does not prevent Amazon, which had closed all of its warehouses following the first decision, to continue its commercial activity and to deliver its French customers from its warehouses abroad, or when shipping is taken care of by third-party sellers from its marketplace. From Fnac Darty to Cdiscount, most of his rivals have seen no impact from the closure of Amazon’s French warehouses on their own e-commerce activity for the past ten days.
Like the Nanterre court, the appellate court accuses Amazon of gaps in the protection of its employees from the risks associated with Covid-19. It also sanctions him for not having sufficiently consulted the employee representative bodies. The SUD union welcomed the ruling on Friday. “We welcome it. Amazon pays for ignoring alerts from staff, unions, and the Labor Inspectorate. He pays for the fact that he felt that everything had been done to protect employees. The judgment challenges this postulate in a major manner “, says Laurent Degousée, SUD-Solidaires central delegate.
SUD and CFDT lawyers point out that the judgment is all the more significant since it took into account Amazon’s practices at the date of the hearing in the court of appeal and not during the action in the first place.
As a result of these breaches, the court ordered Amazon to review its copy. The e-merchant is ordered to carry out an assessment of the professional risks linked to the Covid-19 epidemic across all of its French warehouses, this time involving staff representatives.
The court of appeal went further than the court in Nanterre, by requiring that the central social and economic committee (CSE) of the company in France be associated with this consultation, as well as the local CSEs of the six sites studied. Amazon has so far only done site by site. The e-merchant will have to implement all the protective measures that are missing.
“A long-awaited stop”
Until the American giant complies with its obligations, the court forced the company to restrict the products received, prepared and shipped to its warehouses. It thus confirms the first instance decision but widens the range of products that Amazon has the right to process in its warehouses, and above all, specifies the list. After the April 14 decision, Amazon said it could not distinguish in detail between authorized and prohibited products. Is a nail clipper an essential product? Faced with this uncertainty which could cost it dearly, Amazon had chosen to close all its warehouses. The court this time ordered Amazon to reduce the activity of its warehouses to high-tech products, computer, office, pet, health and body care, drugstore, grocery and drinks.
The court ruled that Amazon’s actions were not up to the pandemic and had been taken day by day without a master plan
Lionel Vuidard, associate lawyer at Linklaters
The penalty imposed in the event of default has also been reduced, to 100,000 euros per product, instead of 1 million euros. Insufficient, however, in the eyes of Amazon, who believes that the risk of an exorbitant penalty is still too high.
Beyond Amazon, the decision of the Versailles Court of Appeal will be scrutinized by a number of companies. “This judgment was eagerly awaited by our customers, who sometimes say that they have not done any better in terms of employee protection”, notes Lionel Vuidard, associate lawyer at Linklaters. The court did not deny that Amazon had taken numerous protective measures (reorganization of the shift gates, deactivation of the gantry cranes to smooth the passage, freezing, proposed temperature measurement, etc.).
“What is striking is that Amazon has implemented many measures”, Sabrina Kemel, lawyer at FTMS, also notes. But “The court considered that these actions were not up to the pandemic and had been taken day by day without a master plan mastered”, explains Lionel Vuidard. Amazon pays mainly for the gaps in social dialogue within the company. “The CSE should have been consulted on major changes which have changed the organization of work but have not been. However, this does not explain the restriction of activity “, believes the lawyer.