{"id":654683,"date":"2024-11-06T00:00:00","date_gmt":"2024-11-06T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/"},"modified":"2024-11-06T00:00:00","modified_gmt":"2024-11-06T00:00:00","slug":"eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/","title":{"rendered":"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC"},"content":{"rendered":"

RETAIL-<\/p>\n

Eastern Company hikes prices for the fourth time this year:<\/strong> EGX-listed tobacco giant Eastern Company on Tuesday hiked prices of its cigarettes by up to EGP 5, after the company\u2019s board approved the decision, according to a statement seen by EnterpriseAM. The price of all its 20-cigarette packs, including Cleopatra, now stands at EGP 38.75, while its higher-end Viceroy and Pall Mall now sell for EGP 60 a pack. The Box 10 \u2014 the pack including 10 cigarettes \u2014 now costs EGP 27. This marks the fourth hike the company imposed in 2024, following the latest hike implemented in July<\/a> to comply with the Universal Health Ins. Law, and two other hikes in April<\/a> and February<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

The reason: <\/strong>The increase came in response to the Finance Ministry enacting the law that<\/a>allows companies to raise prices by 12% annually<\/a> without moving into a higher per-pack tax bracket, the head of the Federation of Egyptian Industries\u2019 tobacco division, Ibrahim Imbaby, told EnterpriseAM. <\/p>\n

Eastern attributed the increase to <\/strong>a weakening EGP, higher input costs, and higher transport costs.<\/p>\n

M&A-<\/p>\n

#1- PHD purchases stake in Makor Hotels + Taaleem:<\/strong> Property development giant Palm Hills Developments\u2019 (PHD) general assembly has approved the purchase of a 9.5% stake in Makor Hotels from Mansour-Maghraby Investment and Development Company in a transaction valued at just under EGP 175.6 mn, the company said in an EGX disclosure (pdf)<\/a>. The transaction brings PHD\u2019s total share in Makor Hotels to 69.5%. <\/p>\n

PHD also approved a decision to purchase Palm Hills chairman and group CEO Yasseen <\/strong>Mansour\u2019s entire stake in higher education outfit Taaleem<\/strong> in an EGP 1.9 bn transaction, the statement read. The transaction gives Palm Hills a 29.6% stake in Taaleem<\/a>.<\/p>\n

\n

#2- Al Areej International Investment further reduces stake in Eastern Company:<\/strong> Al Areej International Investment sold another 20 mn shares in tobacco giant Eastern Company on Monday to an undisclosed Emirati buyer at EGP 25 a pop, bringing the total transaction value to EGP 500 mn, A<\/a>l M<\/a>al<\/a> reports, citing sources in the know. This brings down the company\u2019s share in Eastern Company to 2.3% from 2.99% previously, by our math.<\/p>\n

Remember:<\/strong> Al Areej announced on <\/a>Sunday<\/a><\/a> that it had sold some 9 mn shares of its stake in Eastern Company to an undisclosed buyer in an EGP 225 mn transaction, bringing the company\u2019s stake in Eastern to 2.99% from 3.29%. The company holds another 30% stake in Eastern Company through its Global Investments Holding.<\/p>\n

ENERGY-<\/p>\n

The gov\u2019t is looking to work with Emirati IRH to transport LNG overseas:<\/strong> The Oil Ministry and Emirati mining firm International Resources Holding<\/a> (IRH) are in talks over the possibility of collaborating on liquefied natural gas trade and distribution in a bid to transport gas to foreign markets, according to a ministry statement<\/a>. The talks, which came on the sidelines of the ADIPEC 2024 conference in Abu Dhabi, also saw the two parties exploring areas of cooperation in the mining sector.<\/p>\n

Gov\u2019t to launch mining tender, portal:<\/strong> The Oil Ministry is gearing up to launch a tender for mineral exploration in several areas in the Western Desert, Oil Minister Karim Badawi said. The ministry also plans to officially launch a mining portal before the end of the year to stimulate investment in the sector following the portal\u2019s trial launch in July.<\/p>\n

ICYMI-<\/strong> It was reported back in July that the government would launch an international tender<\/a> for mineral exploration in Sinai, the Eastern Desert, and the Western Desert before the end of the year.<\/p>\n

MANUFACTURING-<\/p>\n

Minority stakes in two ACDIMA plants up for grabs:<\/strong> State-owned Arab Company for Drug Industries and Medical Appliances (ACDIMA) will offer investors stakes of up to 49% in a pharma raw materials plant with investments estimated at USD 150 mn and a glass production project with investments of at least USD 135 mn, Al Mal<\/a> reports. <\/p>\n

What we know about the pharma project: <\/strong>First announced in September 2023<\/a>, the plant will produce 28 active substances used in the pharma industry. The first phase of the project will see Acdima set up production lines for 21 pharma raw materials and is set to start operations in 2026. The second is scheduled to come online in 2030.<\/p>\n

One step closer to pharma industry localization: <\/strong>The company aims to dedicate 45% of production from the pharma materials plant to ACDIMA subsidiaries and 25% to local companies as part of the government\u2019s wider drug industry localization project, ACDIMA chairperson Olfat Ghorab told Al Mal. The remainder of the plant\u2019s production is set to be exported to neighboring countries, which Ghorab noted will assure the plant\u2019s future profitability.<\/p>\n

LOGISTICS-<\/p>\n

Egypt\u2019s planned ro-ro shipping line with Italy is almost here: <\/strong>The new ro-ro shipping line connecting Damietta Port with Italy\u2019s Port of Trieste will begin operations on 29 November, according to a statement<\/a>. The new line is part of the state\u2019s plan to transform Egypt into a regional hub for transportation, logistics, and transit trade, as well as to open new export markets for Egyptian agricultural commodities in Italy and Europe.<\/p>\n

The government has offered a number of incentives to support the project<\/strong>, including an 88% reduction in port fees and lowering road tolls to a flat rate of USD 100 per truck \u2014 in lieu of USD 300 per imported truck and USD 350 per exported truck.<\/p>\n

AGRICULTURE-<\/p>\n

Phase II of the Egyptian Cotton Project: <\/strong>The Madbouly government and the United Nations Industrial Development Organization (UNIDO) launched the second phase of the Italian Agency for Development Cooperation-funded Egyptian Cotton Project<\/a> which aims to boost sustainability across the local cotton value chain, according to a statement<\/a>. The second phase of the project aims to introduce young cotton farmers to sustainable practices and employ the youth across the cotton value chain. The first phase of the project ran from 2018 to 2021.<\/p>\n

DEBT-<\/p>\n

Misr Petroleum secures EGP 10 bn syndicated loan: <\/strong>State-owned oil company Misr Petroleum secured an EGP 10 bn syndicated loan from nine banks, sources familiar with the matter told Al Mal<\/a>. The syndicate includes the National Bank of Egypt, CIB, QNB Alahli, Arab African International Bank (AAIB), Al Ahli Bank of Kuwait, Midbank, Banque du Caire, EG Bank, and the Agricultural Bank of Egypt.<\/p>\n

ALSO WORTH NOTING- <\/p>\n

#1- El Attal is inching closer to its KSA debut: <\/strong>Real estate player El Attal Holding<\/a> is poised to start setting up<\/a> a new mixed-use project in Saudi Arabia in 1Q 2025 and is set to ink the project\u2019s contracts this month. The project, which will span over a thousand units, is set to encompass commercial, administrative, and entertainment activities. <\/p>\n

#2- Teradix secures USD 140k to fuel Saudi expansion:<\/strong> Disruptech-backed eProcurement solutions startup Teradix<\/a> has secured a USD 140k grant to fuel its expansion into Saudi Arabia. (Press release | pdf<\/a>)<\/p>\n

#3- GASC secures 290k tons of wheat to shore up reserves:<\/strong> State grain buyer GASC has purchased 290k tons<\/a> of Romanian, Ukrainian, and Bulgarian wheat for delivery between next month.<\/p>\n","protected":false},"excerpt":{"rendered":"

The increase came in response to the Finance Ministry enacting the law that allows companies to raise prices by 12% annually<\/p>\n","protected":false},"author":1,"featured_media":654684,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,7106,247,72,550,145,131,373,91,354,83,123,408,7401],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-654683","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-debt","tag-eastern-company","tag-enterpriseam","tag-gasc","tag-logistics","tag-manufacturing","tag-mining","tag-oil-and-gas","tag-palm-hills-developments","tag-real-estate","tag-startups","tag-taaleem","tag-tobacco","wpautop","entry"],"acf":{"mongo_id":"e2690dbd-9664-429f-8843-2e1da460674c","order":"10","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/466.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Eastern Company hikes cigarette prices for the fourth time this year","related_issue":[654666],"teaser":"The increase came in response to the Finance Ministry enacting the law that allows companies to raise prices by 12% annually","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7b6fd877-a526-434d-b2a6-4931824b4017.mp3"},"yoast_head":"\nEastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC\" \/>\n<meta property=\"og:description\" content=\"The increase came in response to the Finance Ministry enacting the law that allows companies to raise prices by 12% annually\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2024-11-06T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC\",\"datePublished\":\"2024-11-06T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\"},\"wordCount\":1170,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1\",\"keywords\":[\"ALSO ON OUR RADAR\",\"debt\",\"Eastern Company\",\"EnterpriseAM\",\"GASC\",\"logistics\",\"Manufacturing\",\"mining\",\"oil and gas\",\"Palm Hills Developments\",\"real estate\",\"startups\",\"Taaleem\",\"tobacco\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\",\"name\":\"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC - EnterpriseAM Egypt\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1\",\"datePublished\":\"2024-11-06T00:00:00+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage\",\"url\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1\",\"contentUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/enterpriseam.com\/egypt\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#website\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"name\":\"EnterpriseAM\",\"description\":\"The State of the Nation\",\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\",\"name\":\"EnterpriseAM\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ent.news\/internal\/240894.svg\",\"contentUrl\":\"https:\/\/ent.news\/internal\/240894.svg\",\"caption\":\"EnterpriseAM\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\",\"name\":\"enterpriseam admin\",\"sameAs\":[\"http:\/\/enterpriseam.testing.projectsarea.com\"],\"url\":\"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC - EnterpriseAM Egypt","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/","og_locale":"en_US","og_type":"article","og_title":"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC","og_description":"The increase came in response to the Finance Ministry enacting the law that allows companies to raise prices by 12% annually","og_url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2024-11-06T00:00:00+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/"},"author":{"name":"enterpriseam admin","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d"},"headline":"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC","datePublished":"2024-11-06T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/"},"wordCount":1170,"publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1","keywords":["ALSO ON OUR RADAR","debt","Eastern Company","EnterpriseAM","GASC","logistics","Manufacturing","mining","oil and gas","Palm Hills Developments","real estate","startups","Taaleem","tobacco"],"articleSection":["Also on our Radar"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/","url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/","name":"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC - EnterpriseAM Egypt","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/#website"},"primaryImageOfPage":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage"},"thumbnailUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1","datePublished":"2024-11-06T00:00:00+00:00","breadcrumb":{"@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#primaryimage","url":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1","contentUrl":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1"},{"@type":"BreadcrumbList","@id":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/06\/eastern-company-hikes-cigarette-prices-for-the-fourth-time-this-year-plus-news-from-palm-hills-misr-petroleum-gasc\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/enterpriseam.com\/egypt\/"},{"@type":"ListItem","position":2,"name":"Eastern Company hikes cigarette prices for the fourth time this year. PLUS: News from Palm Hills, Misr Petroleum, GASC"}]},{"@type":"WebSite","@id":"https:\/\/enterpriseam.com\/egypt\/#website","url":"https:\/\/enterpriseam.com\/egypt\/","name":"EnterpriseAM","description":"The State of the Nation","publisher":{"@id":"https:\/\/enterpriseam.com\/egypt\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/enterpriseam.com\/egypt\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/enterpriseam.com\/egypt\/#organization","name":"EnterpriseAM","url":"https:\/\/enterpriseam.com\/egypt\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/","url":"https:\/\/ent.news\/internal\/240894.svg","contentUrl":"https:\/\/ent.news\/internal\/240894.svg","caption":"EnterpriseAM"},"image":{"@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d","name":"enterpriseam admin","sameAs":["http:\/\/enterpriseam.testing.projectsarea.com"],"url":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"}]}},"featured_image_src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?resize=600%2C400&ssl=1","featured_image_src_square":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?resize=600%2C600&ssl=1","author_info":{"display_name":"enterpriseam admin","author_link":"https:\/\/enterpriseam.com\/egypt\/author\/enterpriseam\/"},"jetpack_featured_media_url":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/466.jpg?fit=%2C&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":549105,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/04\/holy-smokes\/","url_meta":{"origin":654683,"position":0},"title":"Holy smokes","author":"enterpriseam admin","date":"4 September 2022","format":false,"excerpt":"Shifting producer dynamics are shaking up the normally staid cigarette industry on this early September morning.Eastern Company reportedly plans to raise prices of key brands by as much as EGP 1.50-2.00 per pack today, according to Bloomberg Asharq. The maker of Cleopatra and other popular brands last hiked prices barely\u2026","rel":"","context":"In "Manufacturing"","block_context":{"text":"Manufacturing","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/manufacturing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":626581,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/05\/eastern-company-raises-local-cigarette-prices-by-egp-3-25-per-pack\/","url_meta":{"origin":654683,"position":1},"title":"Eastern Company raises local cigarette prices by EGP 3.25 per pack","author":"enterpriseam admin","date":"5 July 2018","format":false,"excerpt":"The Eastern Tobacco Company hiked prices of four of its local cigarette products by EGP 2.00-3.25 per pack, according to a company statement picked up by the local press. The company leaned on the recent hike in fuel prices to justify the increases.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":596020,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/18\/eastern-tobacco-raises-prices-of-some-products\/","url_meta":{"origin":654683,"position":2},"title":"Eastern Tobacco raises prices of some products","author":"enterpriseam admin","date":"18 August 2019","format":false,"excerpt":"Eastern Tobacco raised the prices of its Mundial and Black Label cigarettes by EGP 1, the company said in a bourse filing (pdf). Mundial cigarettes now cost EGP 17.5 per pack and Black Label costs EGP 23 per pack. The increase is due to VAT, the company said.","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":668691,"url":"https:\/\/enterpriseam.com\/egypt\/2025\/07\/20\/el-sisi-ratifies-vat-law-amendments-eastern-company-hikes-cigarette-prices\/","url_meta":{"origin":654683,"position":3},"title":"El Sisi ratifies VAT Law amendments + Eastern Company hikes cigarette prices","author":"enterpriseam admin","date":"20 July 2025","format":false,"excerpt":"PLUS- Egypt engaged with key players in nuclear talks","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2025\/7\/1215.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":647763,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/05\/18\/eastern-company-pmi-agree-on-new-prices-for-cigarette-production\/","url_meta":{"origin":654683,"position":4},"title":"Eastern Company, PMI agree on new prices for cigarette production","author":"enterpriseam admin","date":"18 May 2017","format":false,"excerpt":"The Eastern Tobacco Company will be producing up to 15 bn cigarettes for Philip Morris International at USD 5.8 per 1,000 units and between 15-22 bn cigarettes at USD 6.2 per 1,000 cigarettes, the company said in a regulatory filing (pdf) on Wednesday. Philip Morris will pay Eastern Company in\u2026","rel":"","context":"In "Basic Materials + Commodities"","block_context":{"text":"Basic Materials + Commodities","link":"https:\/\/enterpriseam.com\/egypt\/category\/basic-materials-commodities\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":637791,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/26\/new-cigarette-prices-signed-into-law-officially-come-into-effect\/","url_meta":{"origin":654683,"position":5},"title":"New cigarette prices signed into law, officially come into effect","author":"enterpriseam admin","date":"26 November 2017","format":false,"excerpt":"New cigarette prices signed into law: President Abdel Fattah El Sisi officially signed into law on Thursday the latest tax increase on cigarettes, Al Borsa reports. Fixed tax rates for cigarettes sold for less than EGP 18 now stand at EGP 3.50, while cigarettes costing between EGP 18 and 30\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/654683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=654683"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/654683\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/654666"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/654684"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=654683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=654683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=654683"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=654683"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=654683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}