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Stability of monetary policy, simplified government measures attract investment: Infinix

Infinix Corporation, specialised in manufacturing smartphones, is working to develop after-sales services in the Egyptian market and plans to increase the number of its major maintenance centres. Business development manager at Infinix, Ahmed Wagih, told Daily News Egypt in an interview that the economic conditions in Egypt and the scarcity of US dollars have impacted …

Mohamed Alaa El-Din

Motor oil prices increase by 4%, filters by 10%

The prices of automobile oil have increased by 4% in the past few days, and the price of passenger car filters have increased by 10%, both resulting from the increase in the US dollar exchange rate—which affects importing the requirements for production. Sales director at Al Barkah International Ltd for automobile oil trade, Ahmed Mohamed, …

Ahmed Eid

Inflation rate likely to rise next year: experts

Egypt’s core inflation rate climbed to its highest level in seven years in June, underscoring the challenges confronting the government as it grapples with a foreign-currency crunch. Annual core inflation, which excludes volatile items such as food, reached 12.3% in June, up from 12.23% in May and the highest since February 2009, according to the …

Hisham Salah

Car prices continue their journey towards record highs

A new wave of price hikes took place in July for 153 car models from different brands amid anticipation by analysts that the Egyptian pound would be further devaluated by the Central Bank of Egypt. The increase included the German carmakers Opel and BMW, Korea’s Hyundai and Kia, the American Chevrolet, the French brands Renault …

Ahmed Amer

Car prices continue to climb in June

The automotive market has witnessed dramatic prices increase in recent months, driven by the shortage of hard currency required for importing and the high exchange rate on the informal market.

Ahmed Amer