By Mohsen Allam The black and white Fiat may soon be a dying breed after rumors say taxis older than 20 years will be banned.

It’s been quite a month. March saw many things take flight: prices, inflation, demonstrations and the CASE. Meanwhile, as Rumormongers are preparing for their summer holidays, the temperature isn’t the only thing that’s heating up.

Deep within the hallways of the Cabinet a fight is allegedly brewing between the Central Bank (CBE) and the Ministry of Investment (MOI). Rumor has it that the disagreement is mainly based on the Central Banks’ desire to move international card payment switches to local ones, making it difficult — if not impossible — to route transactions across the border. In other words, locally issued VISA, Master Card and Diner’s Club cards will be useless outside of Egypt, while foreigners using their plastic in the country would have to switch to the local version of their own card.

MOI is understandably opposed because this will directly affect investment prospects, limiting investors’ ability to transfer cash in or out of the country. Rumor has it that CBE wants to gain more control over what it claims is a very high-risk industry vulnerable to card fraud and identify theft. If this were to be true, those who want to charge may well consider a retreat.

All those Fiat 128 drivers are fearful of rumored new legislation banning cars over 20 years old — previously believed to be 25 years — from the nation’s roadways. Fear not: Word on the street is that some workshops would be able to change the car’s engine and chassis plate number (which includes the production year); that and a little grease on the inspector’s palms would give a classic car the green light. Some garage gossips are claiming that only taxis will be subject to the 20-year-old vehicle ban and even then only in the capital — an unhappy thought for the black-and-white brigade.

A little bird tells us that the vehicle renewal license is also under scrutiny: rumor has it that the renewal fees will be determined by the market price of the car. Whether that means the original purchase price of the car, the current market price or a depreciation-adjusted price, only the crystal ball can say.

Everyone is talking about inflation. Word has it that the Ministry of Social Solidarity will be integrated with the Ministry of Finance for better financial planning. Hungry for more tidbits, the Rumormonger is saying state-owned bakeries are closing their front doors and selling bread out of the back for far more than its subsidized price. A governor of an Upper Egypt governorate allegedly took matters into his own hands by beating up the crooked bakers in front of the bread-buying public. Rumors are also raging that to stop inter-governorate bread smuggling, bread-buyers need to have their IDs and proof of residence before they can buy subsidized bread.

If bread battles weren’t enough, income tax rates are rumored to be going up by 5% in all income brackets; the move would also expand the number of income brackets to accommodate rising incomes. Rumor has it that taxes on the uppermost bracket would skyrocket to 60%. Guess the government is in need of a little mad money for its projects.

The rumor mill has churned out reports that some Upper Egypt governorates are currently without diesel fuel to run their cars and mini-busses, while other governorates are trying to cap vehicle usage by saying a car should not consume more than 12 liters of diesel per day. Those bread smugglers aren’t going to get very far.

The corporate rumor front is abuzz about Orange’s intent to launch a hostile takeover bid for the remaining 40% of Mobinil’s stock. From the other side of the water cooler, Rumormongers say the latest syndicated loan taken by Orascom Telecom (bt100 number 1) and that its subsidiary Mobinil (bt100 number 7) is to be primarily used to buy back shares from Orange to retain a controlling share of OT.

And where would the Rumormonger be without the occasional conspiracy theory. A recent string of accidents involving police vehicles — which led to the deaths of some 50 officers — are rumored to have been deliberate. Some little birds are blaming Islamist terrorists while others believe it was drug smugglers trying to make a fast escape with a carload of contraband. Perhaps it was a band of fresh-baked bread bandits making a break for the border. bt