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Monday, 25 October 2021

Edita raises Molto price points

Bestselling snack is getting (slightly) more expensive: Edita Food Industries raised the price of Molto by EGP 1 (pdf), and is now selling two ranges of the packaged croissants at EGP 3 and EGP 4, in a bid to improve its bottom line following the global boom in commodity prices. Their EGP 5 croissants were left unchanged.

Other things we’re keeping an eye on this morning:

  • ADIB Egypt gets green light for consumer finance arm: Abu Dhabi Islamic Bank in Egypt has obtained regulatory approval to launch its consumer finance arm, ADI-Consumer Finance, according to a statement.
  • Egypt-Cyprus double taxation treaty ratified: President Abdel Fattah El Sisi has ratified the 2019 agreement between Egypt and Cyprus to eliminate double taxation, according to a decision published in the Official Gazette.
  • Oaks Hotels will debut its brand in Egypt with a 400-room hotel in the new administrative capital by 2025.
  • The tourism and higher education ministries signed an MoU yesterday that will give international students access to the same discounted ticket prices as local students when visiting antiquity sights.
  • Misr Life Ins. signed an agreement with the Agricultural Bank of Egypt to provide its services through the bank’s branches in rural areas.

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