Fund managers are now looking at Egypt and coming back to the market, our friend Ahmed Badr, MENA CEO at Renaissance Capital, told Bloomberg TV. Badr believes that reforms are buoying the Egyptian market and that it is gaining more depth with a healthy IPO pipeline. Badr also does not see the rising oil prices having a huge effect on Egypt as “reforms counter any impact of rising prices.” He is also positive on the prospects of the EGP during the year. Separately, Badr says he is now bullish on Saudi Arabia on the back of the “reform story” going on at the moment as well as a revitalised consumer spending behaviour and sees the potential for high returns to be made there. Definitely worth a watch this morning, starting from 32:45.