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Eastern Company reports 17% y-o-y drop in bottomline for 1H FY 2023-24
The company attributed the drop to “decreases in local cigarette sales segment volume by 43% y-o-y”
Gaza truce starts + Global Investment Company nabs 30% of Eastern Company
Good morning friends and HAPPY FRIDAY. We hope that you’re enjoying the milder weather and getting some respite from the…
Egypt sells 30% stake in Eastern Company for USD 625 mn
The Emirati buyer will pay in USD in a boost for the state as it tries to ease the FX…
THIS EVENING: Eastern Company sells 30% stake for EGP 16.4 bn to UAE-based Global Investment Holding
Good afternoon friends and happy Thursday. We have a smattering of privatization updates as our news cycle winds down over…
Tobacco distributors file antitrust complaint against Eastern and its new UAE shareholder
Eastern is allegedly refusing to manufacture their products
Presidential hopeful Yamama isn’t a fan of the IMF or Israel
In an unexpected turn of events, talk shows shifted their attention from Gaza to the new cigarette prices, the upcoming…
Eastern hikes smoke prices by up to 33%
The hike in prices follows recent amendments to to tobacco taxes
New VAT on cigarettes gets final sign off
The new VAT is expected to raise EGP 8 bn
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