Edita Unlikely to Raise Prices Despite Sugar Price Increase🥐
Edita’s (EFID) chairman Hani Berzi has ruled out the possibility of the company increasing its products’ prices in the coming months, despite the increase in sugar prices.
More Details🧐 Berzi said that the government’s recent decision to raise the prices of subsidized sugar should not affect the company’s current performance, adding that international sugar prices have been rising for the past four months.
Why is this Important🤔 Edita had raised the prices of its Molto products back in October 2021 after international sugar prices rose by 40% during Q4-2021.
Berzi said the company is continuing its expansion plan for this year, pointing out that it’s currently studying the amount it plans on investing in 2022.
SODIC & FBC Investments to Launch First Finnish-British School in MENA Region🏫
SODIC (OCDI) has partnered with Finnish-British investment consortium FBC Investments to establish the MENA region’s first Finnish-British school.
More Details🧐 The school is set to be built over an area of 20,000 square meters in “SODIC East” in East Cairo, by 2023.
The Finnish education system is globally recognized as one of the best in the world. It takes a “phenomenon-based learning” approach, instead of traditional learning models.
Phenomenon-Based Learning❓ Phenomenon-based learning is an instructional approach based on student inquiry & problem-solving. No specific subject is taught. Instead, students investigate & solve their own questions by applying what subjects are relevant to the problem.
Why is this Important🤔 FBC Investments managing director believes the Finnish education system is perfect for developing skills needed for the 21st century & keeping up with the rapidly-changing digital world.
The school will serve more than 8,000 families in SODIC East, in addition to the entire East Cairo area.
Arab Dairy Capital Increase 99.9% Subscribed🧈
Arab Dairy (ADPC) announced that the first phase of its capital increase has been 99.93% subscribed.
More Details🧐 129.91 million shares were subscribed to during the subscription period from December 5, 2021, to January 4, 2022, leaving 86.94 thousand unsubscribed shares.
Why is this Important🤔 ADPC will launch a second phase to subscribe to the remaining shares, pending approval from the FRA.
What else is Clapping👏
Porto Group (PORT) Changes Name to Arab Developers Group
Misr Fertilizers Production Company (MFPC) Appoints Ibrahim Mahgoub as New Chairman & Managing Director
Egypt’s Foreign Reserves Up 0.07% to $40.93 Billion in December 2021
Cloud Stocks Are Off to a Rough Start in 2022🌩
Cloud computing & software-as-a-service (Saas) stocks have been hit hard the past week amid fears of rising interest rates & the economy opening up again.
More Details🧐 With the entry of COVID, organizations of all kinds were forced to transition to the cloud to access remote communication, collaboration & storage tools. E-commerce platform Shopify, video chat service Zoom, & e-signature provider DocuSign were some of the notable winners.
Since mid-November 2021, however, cloud stocks have been plummeting. Shopify & Zoom are each more than 50% below their 52-week highs, while DocuSign is 32% below its 52-week high. The ISE Cloud Computing Index is down 18% since mid-November 2021, while the WisdomTree Cloud Computing Fund is down 28% since mid-November.
Why is this Important🤔 Cloud stocks have been some of the best bets for investors over the past five years. Some analysts are not too worried about the drop & describe it as a buying opportunity, citing strong fundamentals.
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