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Pound’s flotation without imports will significantly increase car prices: El-Goukh
Ahmed El-Goukh, the showrooms manager at El-Ezz Motors, said that the decision to float the Egyptian pound without opening the door for imports and the shortage of foreign currency required for imports will significantly increase car prices in the Egyptian market. El-Goukh expected a substantial increase on all car prices, including used cars. Showrooms have …
Steel prices jump to register EGP 9,250 per local tonne after flotation of pound
It is expected that steel prices will decrease to EGP 5,200 per local tonne and EGP 5,800 per imported tonne once US dollar rate stabilises, says head of Real Estate Investment Division
Real estate developers await stability in prices of construction material following pound’s flotation
The CBE’s decision to float the Egyptian pound is viewed as a positive step for the real estate sector and is expected to promote market stability, say developers
Sugar: one more problem for Egyptians
Since the end of September, Egypt has been facing a remarkable shortage in sugar, pushing the commodity’s price upwards, while creating its very own informal market, and consequently, increasing the suffering of Egyptians. Egypt produced a total of 2.2m tonnes of sugar in 2015 and consumed 3.1m tonnes, creating a shortage of some 900,000 tonnes. …
6 more people detained for calling for protests on 11 November
Arrests are not likely to affect the other calls to protest, especially if these calls are wide-reaching, says lawyer
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 …
TE increases short numbers subscription’s price to EGP 68,800 annually
EGP 46,300 increase in prices compared to last year’s contracts
Samsung increases prices of its mobile devices by 9%-11.3% in October
Price of Note 7 increases to EGP 11,300
The imminent real estate bubble
New Cairo, coastal projects in danger; VAT increases residential units’ prices
Philip Morris Misr announces official list prices post-VAT
The support for the decision comes in the hope that the VAT law will end production shortfalls and price fluctuations
Mobile phone traders launch campaign to increase mobile, top-up card sales
Traders demand a 5% increase in top-up card prices, mobile phones by 10%
Mobile phone prices increase for 3rd consecutive month
Prices of Huawei and Tecno products are up by 11% and 4.5% respectively
No decision to increase metro ticket prices as of yet: Transportation Committee
After Eid holidays, meetings will be held with the Transportation Ministry and the Egyptian Co. for Metro Management & Operation to look into suggestions from both sides, say sources
In Cartoon: Price increases are as bad as walking to the gallows
Tyre prices increase by EGP 100-290, rim prices increase by EGP 440
Sales declined by 65%; global companies offer Chinese alternatives
30% increase in car battery prices over 3 months
The demand on local brands is sharply increasing, followed by Saudi and Korean brands
VAT, depreciation of Egyptian pound could increase real estate prices by 15%-20%
Real Estate Investment Division demands reducing VAT rate on construction contracts from 5% to just 4%
Car dealers conceal inventory of new cars, raising prices by 20%
Egyptian Tax Authority investigates six companies over charges of evasion and selling cars at false prices, says Consumer Protection Agency chairperson
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, …
Is pressure for Egypt’s reform coming from the IMF or from oil prices?
While the IMF conditionality is the focus of the reform agenda, oil prices may be driving government considerations
President seeks to open communication channels with the public
The public should be more familiar with the reasons behind state decisions before their issuance, says Al-Sisi
Parliament’s Health Committee approves ‘two-price policy’ for medication
This solution will overcome the increasing lack of medication in pharmacies, says parliament member
Samsung and Huawei prices up by 11.1%
Galaxy S7 at EGP 10,400 and P9 Plus at EGP 7,500
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 …
High prices, inflation increase not behind CBE’s decision to keep pound’s price against US dollar: analysts
The devaluation of the Egyptian pound against the US dollar is one of the biggest reasons behind the price increase, but not the sole reason
Car prices on the rise by 2-7% alongside application of VAT
AMIC chairperson demands that the government issue the executive regulations of the VAT law to prevent unreasonable price rises A
Motorcycle, bicycle prices rise by 20%, following devaluation of Egyptian pound
Prices of motorcycles and bicycles rose by 20%, due to the increase of the US dollar exchange rate against the Egyptian pound over the past three months, which has negatively affected sales during the summer. Gamal Abdel Nasser, head of the motorcycles division at the Cairo Chamber of Commerce, said that the increase in the …
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 …
Sugar prices stabilise in the local market despite global volatility: Ministry of Supply
The Sugar Committee, headed by Minister of Supply and Internal Trading Khaled Hanafy, decided to maintain the stability of sugar prices in ministry outlets and in private sector markets despite the global volatility of prices in order to provide sugar at low prices for citizens, especially low-income citizens, and to increase its strategic reserves of …
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.