Egypt’s top cigarette maker Eastern company raised the prices of some of its popular cheap cigarettes on Wednesday, the company said in a bourse filling. Eastern Company, which supplies 70% of Egypt’s cigarette market, raised the price of three of its low-cost, Cleopatra brand cigarette products by between 4.2 and 17.6%. In October, Eastern Company said it was having problems buying raw materials because of Egypt’s dollar shortage. In a separate note, the Ministry of Finance said in a press release that the company raised its products’ prices on its own accord without any governmental intervention. “The products prices hike is the company’s own decision.

Source: Daily News Egypt July 12, 2017 16:07 UTC