Cigarette maker Philip Morris International Inc. said it’s seeing signs of recovery in the global economy, but the seller of Marlboro and other brands overseas cautioned that taxes and stringent tobacco regulation remain challenges for future growth. Read more
The government has notified the ban on FDI in cigarette manufacturing, a decision taken by the Union Cabinet on April 8.
“Manufacturing of cigars, cheroots, cigarillos and cigarettes, of tobacco or of tobacco substitutes” have been put under the list of sectors where FDI is prohibited. Read more
Higher selling prices helped boost cigarette maker Philip Morris International Inc.’s first-quarter profit 15 percent, but results missed expectations due to pressure from steep excise taxes in some countries, and the weak economy. Read more
Negotiators have made significant progress on a global pact to halt smuggling and counterfeiting of tobacco products in a week of talks, the World Health Organization (WHO) said on Sunday. Read more