dollar crisis

Lufthansa mulls refusing payment in local currency, could pull out of Egypt
Business

Lufthansa mulls refusing payment in local currency, could pull out of Egypt

The German airline Lufthansa is mulling several alternatives to overcome the crisis of its financial dues in Egypt, including a…
Let them eat Kahk: gov’t biscuit subsidies sweeten Eid inflation
Egypt

Let them eat Kahk: gov’t biscuit subsidies sweeten Eid inflation

"A kilo of the best quality Kahk shouldn't be more than 30 pounds," says Hussein Abdullah, a bakery and patisserie…
Government buy-local ads poke fun at Egypt’s ‘foreigner complex’
Egypt

Government buy-local ads poke fun at Egypt’s ‘foreigner complex’

The Trade and Industry Ministry has launched a new advertising campaign aimed at encouraging Egyptians to have more confidence in…
Egypt’s illicit currency traders defy crackdown, spread business abroad
Business

Egypt’s illicit currency traders defy crackdown, spread business abroad

Egypt's efforts to stamp out illicit currency trading is pushing black market dealers to carry out transactions abroad, beyond the…
Pension increase canceled out by consumer inflation
Egypt

Pension increase canceled out by consumer inflation

On May 9, President Abdel Fattah al-Sisi approved a 10 percent increase on all state pensions, a move that benefits…
What devaluation? Egyptian currency traders shrug off black market crackdown
Business

What devaluation? Egyptian currency traders shrug off black market crackdown

Egypt's war on black market currency traders is not going to plan. One month after a devaluation that was supposed…
We will keep basic goods prices stable despite dollar crisis: Sisi
Business

We will keep basic goods prices stable despite dollar crisis: Sisi

Egypt's President Abdel Fattah al-Sisi said on Wednesday he would make sure the price of basic goods does not increase,…
Egypt central bank to keep pound stable say bankers, pound weakens on black market
Business

Egypt central bank to keep pound stable say bankers, pound weakens on black market

Egypt's central bank will keep the pound stable at LE8.78 pounds to the dollar in Thursday's additional foreign currency auction,…
Egypt’s exchange bureaus investigated for hoarding dollars
Business

Egypt’s exchange bureaus investigated for hoarding dollars

Egypt's General Prosecution is investigating around 15 exchange bureaus after the central bank reported them for hoarding dollars and contributing…
Dollar crisis hits pharma industry, causing shortages, possible production halt
Business

Dollar crisis hits pharma industry, causing shortages, possible production halt

Egypt's pharmaceuticals industry is facing a serious shortage of raw materials, as well as serious financial difficulties, as a result…
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