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With mandatory pricing + FX pressures, Egypt’s pharma industry is trying to keep its head above water
Manufacturers are looking to produce vitamins and cosmetics to help offset losses
Our net foreign liabilities inch up to new record high
Commercial banks drove the headline figure, with their net foreign assets dropping to a deficit of USD 16.2 bn
Gov’t introduces bookkeeping scheme to account for FX price differentials
The difference between the official and parallel market exchange rates that the rules account for stand at an annual average…
War on Gaza will cut into foreign exchange inflows, spike gov’t expenditure - IMF
Israel’s war on Gaza is “exacerbating an already challenging environment for neighboring countries and beyond,” warns the IMF
Gov’t takes steps towards bringing the real-estate-for-FX scheme to life
Foreigners enrolling in the initiative will be offered residency- and citizenship-related incentives
THIS EVENING: Car import scheme expected to reel in USD 2 bn, FinMin says
Good afternoon, friends and happy Monday. It’s still a relatively slow news week so far, although there are early signs…
Another econ-heavy night on the airwaves
The economy continued to drive the conversation on the airwaves last night. Between the central bank’s Monetary Policy Committee meeting…
Banque Misr becomes the latest bank to lower credit card FX limits. PLUS: Startup financing news, new Heliopolis Housing project, new fintech startup on the block, Egypt + Malta talk energy
The move follows similar movies by NBE, CIB, and ADIB over the last two weeks
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