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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

20 investment banks apply to advise government on offering US dollar-denominated bonds, result to be announced Monday

A senior government source said that 20 investment banks have submitted requests to the Ministry of Finance to act as financial advisors for the governmental offering of US dollar-denominated bonds on international markets. The source said a number of those banks applied earlier for the first offering, including Morgan Stanley, J.P. Morgan & Co., and …

Ahmed Farahat

US dollar shortage threatens NCMP EGP 1.2bn expansion plan

The National Company for Maize Products (NCMP) is considering temporarily suspending its expansion plans worth EGP 1.2bn due to lower production volumes of the company. The lowering production rate is driven by recession in global markets as well as the ongoing US dollar price hikes in the Egyptian market. A senior source at NCMP, who …

Mohamed Ahmed