egypt economy

Rapid Currency Slide Chokes Business in Egypt

By Lin Noueihed CAIRO, Nov 1 – Business is grinding to a near-halt in Egypt as companies struggle to keep pace with a rapid slide in the black market value of the pound. Factories are halting production, shops are running low on stocks and a sense of panic is spreading. Bassem Hussein, whose company imports,

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Egyptians Losing Patience with Sisi as Economy Deteriorates

By Lin Noueihed CAIRO, Oct 23  – A cartoon which appeared on social media shows a drowning Egyptian, only his hand protruding from the depths, waving for help. The next strips show President Abdel Fattah al-Sisi diving in, taking the drowning man’s watch and turning away. The cartoon captures the mood of desperation and anger among

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Egypt: Our Daily Bread

Egypt’s hive of small, unregulated businesses are keeping the nation afloat By Safa Joudeh A particular brand of urban entrepreneurship is keeping food on the table for millions, as a hard currency crisis has crippled Egypt’s business activity in recent months. Unregulated, untaxed businesses are operating in the shadow of the state, making up a large

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The Egyptian Greetings From Tourism Board

Arbitrary detentions, torture, repression of the press and a failing economy have made Egypt a tinderbox By Janine di Giovanni Photographs by Vinciane Jacquet The day I arrived in Egypt in April, President Abdel-Fattah El Sisi had just given two Red Sea islands, Tiran and Sanafir, to King Salman of Saudi Arabia, who was visiting Cairo to announce billions

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