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00:00I mean Egypt has been one of your top cars of the past. Again we had more voices on the show over the last few days that support that kind of view. I want to get some specific names from you I mean if somebody is looking at equities in Egypt . Which ones are you recommend. I think definitely. So you had the latest IPO or zero which is an early on the education story in Egypt. I think that's definitely a stock to look at because it's a play on the population growth and a very attractive sector consumer names like Jihye Lee and Dumpty are also names to look at in Egypt and the real estate sector as well. If we see a continued fall in inflation and interest rates we should see some pick up and that sector which was the worst performing sector in Egypt last year. So a lot like. And I'm almost sure it would be some of the stocks to look up banks you know in Egypt are obviously an attractive story they continue to post decent earnings growth but banks wouldn't be our top sector in Egypt this year. I think consumers real estate and education are probably the three sectors we'll be focusing again that said it's certainly consistent with what what the other analysts have been saying. I want to go right into the heart of emerging markets and look at Pakistan. You said part of the argument is currency and that will prevail. How much of Pakistan and what part of Pakistan do you want to take on board . I think at the moment we're still on the defensive. So basically preferring banks. But if you see more certainty towards an IMF deal I think it would be time to look at the cyclicals and the Pakistani markets. So where does that leave us then. I mean Pakistan is in there I know we talked about Egypt as well. I mean as you look to perhaps the UAE Qatar and the minor sort of the missing parts of this equation you really feel strongly either way about some of these markets right now you basically debt neutral. I think I think the uber a year. I mean there is definitely a lot of value in Dubai's stocks . That's absolutely clear and clear for everyone to see. So if you're a long term investors I think it would be time to look at Dubai once we got the index inclusion stories in Kuwait and Saudi Arabia. I think a lot of regional money will probably be looking at the UAE because it's by far the most interesting market from a valuation perspective and long term outlook. If I have to put the trade in the UAE this year perhaps longer. More short doc would be my top trader. So that's that's really what one of the things I've going to go because it's an outperformance call basically .

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Egypt Consumer, Real Estate, Education Stocks Favored, EFG-Hermes Says

Mohamad Al Hajj, equities strategist at the research arm of EFG-Hermes Holding, talks about Middle East and Pakistan stocks. He speaks with Yousef Gamal El-Din and (Source: Bloomberg)

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