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.