The resumption of military actions in the Middle East on July 7 undermined hopes for a decrease in fuel prices observed in July, as international oil prices rose sharply.
Although current prices remain below levels recorded before the ceasefire, the price of Brent crude has significantly increased, rising from approximately $72 per barrel at the beginning of July to $85.
Experts predict that gasoline is likely to show a slight decrease in cost in August, while diesel fuel is expected to become more expensive. If oil prices and the rand exchange rate remain relatively stable until the end of the month, calculations suggest that the price of petrol could drop by 40–50 cents per liter.
The situation with diesel fuel looks less favorable: an increase of about 98 cents for 50ppm fuel and 1.10 rand for 500ppm is forecast. These forecasts are conditional, as the situation in the Middle East remains unstable.
Currently, a liter of 95 unleaded petrol costs 25.23 rand on the coast and 26.11 rand in Gauteng, while 93 unleaded petrol sells for 25.94 rand. The wholesale price of 500ppm diesel fuel is currently 23.91 rand on the coast and 24.78 rand inland, and 50ppm costs 24.41 rand and 25.16 rand, respectively.
According to data from the Central Energy Fund (CEF), although petrol shows an expenditure overrun of 1.14–1.18 rand per liter at present, recent daily data indicates a shortfall of about 50 cents per liter. With current oil prices maintained, these daily shortfalls are likely to continue reducing the monthly average, lowering the expected price decrease to 50 cents or less.
Regarding diesel fuel, although recent daily CEF data shows a shortfall of about 3.00 rand per liter, strong overspending registered earlier in the month should mitigate the overall impact when calculating final fuel prices for August. Based on current trends, this points to a diesel fuel price increase of approximately 98 cents to 1.10 rand per liter.
Further sustained decreases in fuel prices will depend on the resumption of a truce between the US and Iran. Over the past week, the US has resumed airstrikes against Iranian military targets, while Iran continues to threaten shipping in the Strait of Hormuz and strikes other targets in the Middle East.
However, given the rapidly growing economic costs for all parties, there is a willingness to avoid a prolonged war. US officials have stated their readiness for negotiations, and regional mediators continue attempts to resume dialogue, according to Al Jazeera. Nevertheless, as long as the parties continue to exchange strikes, fuel prices are likely to remain elevated in the foreseeable future.
The wealth and asset management firm Neo Group has successfully raised approximately ₹350 crore in a new funding round. The round was led by Peak XV Partners, which was previously the company's first institutional investor.
The agreements stipulate that Neo Group plans to use the raised funds to strengthen its technology platform, expand its network of consultants, and launch new investment products. These steps are being taken amid growing demand for sophisticated wealth management solutions in India.
This capital infusion followed a previous investment of ₹550 crore by TVS Capital, indicating sustained investor confidence in Neo's growth strategy. Although the company has not disclosed its valuation, the deal is expected to close soon.
Neo Group, established to serve Ultra High Net Worth Individuals (UHNIs), High Net Worth Individuals (HNIs), family offices, institutions, and corporations, has become one of India's fast-growing wealth management platforms.
As of June 30, 2026, the company managed client assets worth approximately ₹1.3 lakh crore, including advisory and assets under management, while maintaining a capital base of nearly ₹3,000 crore. Furthermore, it oversees assets with an annual recurring revenue of about ₹50,000 crore and operates in over 30 cities with a staff of more than 850 specialists, including over 150 senior wealth advisors.
Nitin Jain, Chairman and Managing Director of Neo Group, stated that the new funding will help the company invest in personnel, technology, and new product opportunities, as well as expand its presence nationwide. Peak XV Partners noted that the wealth management industry in India is experiencing growing demand for institutional-level advisory services as the base of wealth creators in the country expands. The investment firm highlighted that Neo stands out due to its advisory-based approach, experienced leadership team, and technologically advanced platform, enabling it to effectively capitalize on changing market opportunities.
Headquartered in Mumbai, the company provides a wide range of services covering wealth management, asset management, private markets, fixed income, global investments, insurance, and estate planning. Neo also has an international presence in the United States, aiming to increase its reach among global Indian investors.
Egypt's engineering sector has become one of the country's successful export stories, and officials are now striving to significantly boost this growth. The government has set a goal to increase the volume of engineering goods exports from approximately $6.5 billion in 2025 to $13 billion by 2030, which means doubling the sector's share in global markets within five years.
This plan is the result of joint efforts by the Export Development Fund and the Egyptian Engineering Goods Export Council. Instead of adopting a single policy initiative, a comprehensive plan was developed to change the state's approach to supporting companies that manufacture and ship engineering products abroad.
At the heart of this strategy is the revision of state support mechanisms for exporters. Hatem El-Nawawi, head of the Export Development Fund, noted that the new approach goes beyond simply providing financial incentives. The Fund intends to help manufacturers prepare for export from the very beginning: meeting international standards, increasing production capacity, and enhancing the competitiveness of their products in foreign markets.
Furthermore, bureaucratic aspects of exports are planned for modernization. Officials are actively promoting the digitalization of export procedures to reduce complexities associated with government paperwork and speed up coordination with exporters. For manufacturers who have long complained about red tape, this aspect may prove as important as any subsidies.
The strategy also relies on existing trade agreements. There are plans to more actively utilize the African Continental Free Trade Area, which provides access to a market of over a billion people, as well as the MERCOSUR agreement, covering major South American economies. Sherif El-Sayyad, chairman of the Engineering Goods Export Council, emphasized that Africa and South America are key directions for achieving the 2030 goal, as these regions have historically not been primary consumers of Egyptian engineering products compared to Europe and the Persian Gulf.
In addition, the strategy provides for closer integration of Egyptian companies into the global supply chain. This includes increasing local production of components instead of relying on imports and shifting the export assortment towards higher value-added goods that are difficult for low-cost competitors to imitate.
These ambitions are supported by the steady growth of Egypt's engineering goods exports over the past two years. In the first half of 2025 alone, the sector reached a record $3.1 billion, and throughout 2025, figures were high across all segments, including electronics, mechanical engineering, and transport equipment, which showed double-digit growth. Early 2026 data indicates sustained momentum, as El-Sayyad pointed to nearly 20% annual growth in the sector during the first four months of the current year.
This track record gives officials confidence in the realism of the 2030 target. The growth has been broad, covering cables, automotive components, home appliances, and industrial equipment, with demand rising not only from traditional partners in Europe but also from countries in the Gulf Cooperation Council, African markets such as Nigeria and Kenya, and more distant destinations, including the USA and China. Officials have also included this sector among seven priority industries under Egypt's Industrial Strategy for 2030.
The $13 billion target for the engineering sector is part of much larger plans. El-Sayyad linked this goal to the government's overall objective of increasing Egypt's total exports to $100 billion by 2030. Achieving these figures depends on numerous external factors, such as global demand, currency stability, and competition from other manufacturing hubs. Nevertheless, thanks to the reform of the support system and the sector's already demonstrated high performance, officials in Cairo believe that all elements are aligning for the engineering sector to become a pillar of the country's export economy in the next five years.
The institutional laundry infrastructure company Quick Clean has successfully raised $14 million in a Series B funding round. The round was led by Stakeboat Capital, with participation from existing investors Alkemi Growth Capital and Blue Ashva Capital.
Quick Clean was founded in 2010 by brothers Anshul Gupta and Ankur Gupta. The company provides Build-Own-Operate (BOO) solutions for local laundry infrastructure for hotels and hospitals. This allows institutions to outsource their laundry operations while keeping the equipment on their premises.
The capital raised will be used by the company to expand its network of local laundries across India. Furthermore, the funds will go towards developing automation and implementing artificial intelligence-based operations, as well as supporting international expansion plans. The company intends to deepen investments in technologies such as predictive maintenance, automation, and sustainable solutions.
Over the next five years, Quick Clean aims to grow its network from the current more than 140 facilities to over 500 local laundry units in the healthcare and hospitality sectors. Expansion into Southeast Asian and Middle Eastern markets is also planned.
Anshul Gupta, founder and CEO of Quick Clean, stated his goal of building the world's largest company in local laundry infrastructure. He added that the latest investment will help the company scale its technology platform and global presence.
Stakeboat Capital explained its decision to support the company by noting that its operational model differs from competitors, and the demand for technologically equipped laundry infrastructure in India's growing hospitality and healthcare sectors is constantly increasing. Alkemi Growth Capital also confirmed its support, highlighting the company's project execution capability and focus on sustainable development.
Currently, Quick Clean manages over 140 local laundry facilities in more than 38 cities, processing over 100,000 kilograms of laundry daily. The company employs over 1500 people and serves hotel brands such as Marriott, Taj, Hyatt, Radisson, and ITC Hotels, as well as medical institutions including AIIMS, Lilavati Hospital, and Bombay Hospital.
The company emphasized that thanks to its technological processes, water consumption is about eight liters per kilogram of processed laundry. This is significantly lower than the industry average of nearly 24 liters, which helps reduce water consumption and carbon emissions for clients.
