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Category: Business & Finance

  • Foreign Investors Increase Stakes as KT&G Posts Record Sales

    Foreign Investors Increase Stakes as KT&G Posts Record Sales

    KT&G is attracting renewed global investor interest after reporting record first-quarter overseas tobacco sales and continued strength in shareholder returns, according to The Korea Times. Earlier this month, Capital Group acquired a 5.61% stake in the company through its subsidiary, following a similar move in January by BlackRock, which built a position of more than 5%. Foreign investors have posted net purchases of KT&G shares for 22 consecutive trading days since April 9, lifting foreign ownership by nearly one percentage point, as investors increasingly view the stock as a value play supported by solid fundamentals and dividend policy rather than Korea’s semiconductor-heavy market trends.

    KT&G’s share price climbed from the ₩140,000 ($92.40) range in January to around ₩180,000 ($118.80), supported by first-quarter sales of ₩1.7 trillion ($1.1 billion) and operating profit of ₩365 billion ($241 million), up 14.3% and 27.6% year-on-year, respectively. Overseas tobacco sales reached a record ₩560 billion ($370 million), with operating profit from global operations rising 56.1%. Having already met its ₩3.7 trillion ($2.4 billion) shareholder return target for 2024–2027, KT&G plans to announce a new return policy later this year and has pledged to cancel all treasury shares following revisions to Korea’s Commercial Act, moves that analysts say are reinforcing its appeal among long-term institutional investors.

  • BAT Launching Digital and Technology Hub in India

    BAT Launching Digital and Technology Hub in India

    British American Tobacco announced plans to open a new information, digital, and technology (IDT) hub in Fraser Town, Bengaluru, India, as part of efforts to strengthen its global technology footprint and accelerate its transformation into a more agile, data-driven business. The hub will house BAT’s newly created Future Capabilities Centre (FCC), designed to consolidate key digital, data, cybersecurity, artificial intelligence, and platform capabilities in one location to drive innovation and operational efficiency across the group.

    The FCC will create a range of highly skilled roles and tap into Bengaluru’s technology ecosystem to support BAT’s global operations through advanced digital solutions and strategic partnerships. According to Javed Iqbal, BAT’s Interim Chief Financial Officer and Director for Digital and Information, the center will play a critical role in scaling innovation and embedding technology at the core of the company’s operations as it adapts to a rapidly evolving business environment.

  • Bosnia, Industry Cracking Down on €500M Tobacco Black Market

    Bosnia, Industry Cracking Down on €500M Tobacco Black Market

    Authorities and industry representatives in Bosnia and Herzegovina say the illegal tobacco trade is costing the country more than €500 million annually, as cigarettes without excise stamps and cross-border smuggling continue to undermine the legal market and public revenues. Officials from the Indirect Taxation Administration of Bosnia and Herzegovina and the Finance Ministry stressed that coordinated enforcement, stable excise policy, and cooperation with manufacturers such as British American Tobacco and Japan Tobacco International helped reverse a sharp market collapse seen around 2019–2020, when legal cigarette volumes fell from 12 billion to 3.5 billion sticks annually.

    Authorities say improved policy alignment and citizen reporting through the “Stop Smuggling” campaign have since supported revenue recovery, while warning that the shadow market still distorts competition, drains budgets that fund public services, and complicates efforts to align with European regulatory standards. 

  • BAT Stock Surges, Despite Legacy Combustibles Shrinking

    BAT Stock Surges, Despite Legacy Combustibles Shrinking

    Shares of British American Tobacco climbed 13.99% in London trading last week to £48.64 on May 15, as investors reacted to a mix of regulatory, legal, and capital signals. Market attention followed the U.S. Food and Drug Administration authorization of flavored Glas ENDS products, seen as a reference point for how flavored e-cigarettes may fare under the PMTA pathway, even though the decision did not involve BAT’s Vuse brand. Sentiment was further supported after a U.S. court dismissed a sanctions-related criminal case tied to BAT’s prior North Korea compliance matter, confirming the company had fulfilled its deferred prosecution agreement, alongside continued focus on BAT’s planned £1.3 billion 2026 share buyback and growth prospects for its newer nicotine portfolio, including VELO.

    In contrast, BAT Bangladesh reported a 14% year-on-year drop in cigarette volumes and a 34% decline in profit for Q1 2026 amid higher taxes, inflationary pressure, and weaker consumer purchasing power, underscoring the diverging performance between BAT’s legacy combustible markets and investor expectations tied to reduced-risk product expansion.

  • AIR Begins Nasdaq Trading Following SPAC Merger

    AIR Begins Nasdaq Trading Following SPAC Merger

    AIR Limited completed its business combination with Cantor Equity Partners III, resulting in the formation of AIR Global PLC, whose ordinary shares began trading on the Nasdaq Stock Market today (May 18), under the ticker symbol “AIIR.” The transaction, approved by CAEP shareholders on May 12, positions the Dubai-headquartered company known for its Al Fakher brand as the only publicly listed pure-play platform focused on flavored shisha molasses and hookah products. CEO Stuart Brazier said the listing provides access to U.S. capital markets to accelerate international expansion, particularly in AIR’s largest market, the United States, and highlights the global scalability of UAE-founded consumer businesses.

    AIR said it will ring the Nasdaq Opening Bell on May 21 to mark the milestone. The company operates in more than 90 markets and cited industry estimates valuing the global flavored molasses and hookah ecosystem at $15–19 billion with projected mid-single-digit growth through 2030. As part of its growth strategy, AIR plans to open a 70,000-square-foot manufacturing facility in Romania by Q1 2027, expand recently acquired German brand NameLess into new markets, roll out its Crown Switch rechargeable pod system beyond Germany, and advance brand collaborations, including a premium flavor line with Snoop Dogg.

  • VB Distribution Appoints New CEO

    VB Distribution Appoints New CEO

    London-based VB Distribution (Vapes-Bars Ltd) appointed Natalia Gosciniak as Chief Executive Officer as part of an ongoing governance and corporate development program. Gosciniak, who has been involved in shaping the company’s strategic direction and governance framework, will oversee operations, organizational development, and commercial growth. She said the company is investing significantly in infrastructure and operations to support a more sustainable phase of expansion.

    As part of the transition, founder Adam Matliwala will become chairman, focusing on strategic oversight and long-term business development. VB Distribution supplies supermarket, wholesale, convenience, and independent retail partners, reporting more than 50,000 retail shelf placements across the UK and an annual turnover approaching £500 million. The company said the leadership change supports broader governance enhancements tied to its long-term corporate and public market ambitions.

  • Drew Estate Formalizes Innovation Department, Hires New Marketing VP

    Drew Estate Formalizes Innovation Department, Hires New Marketing VP

    Drew Estate’s Jonathan Drew Sann announced he will be filling the company’s newly created position of Chief Innovation Officer, keeping his duties as president of the company but stepping away from his role heading the marketing department. He simultaneously announced the hiring of Andrew Duncan as senior vice president of marketing.

    Sann said the company will now formally recognize an innovation department, which will focus on expanding the company’s business portfolio “around its core strengths in brand development, disruption, and consumer engagement.” The company cited recent initiatives, including the Drew Dominicana factory in the Dominican Republic and the J.Sann & Son retail division, as examples of projects emerging from this effort. CEO Glenn Wolfson said the move is intended to position Sann to focus on long-term strategic and cultural development for the company.

    Duncan joins the company from The Sazerac Company, where he served as global head of brand marketing for the company’s bourbon and American whiskey portfolio, and previously held senior marketing roles at Procter & Gamble. At Drew Estate, Duncan will oversee brand management, consumer engagement, digital marketing, and global creative, and will work with Sann to support the commercialization of innovation initiatives.

  • Mancuso Takes Reins of Altria After Annual Meeting

    Mancuso Takes Reins of Altria After Annual Meeting

    Altria Group, Inc. held its 2026 Annual Meeting of Shareholders today (May 14), where outgoing CEO Billy Gifford addressed shareholder questions and highlighted company priorities. Following the meeting, Sal Mancuso formally succeeded Gifford as chief executive officer, marking a planned leadership transition announced at the end of 2025 after Gifford’s more than 30-year career with the Altria family of companies. Gifford said Mancuso’s decades of leadership experience, including service as chief financial officer, position him well to lead the company forward. A copy of the presentation and a replay of the webcast are available on Altria’s website.

    Shareholders elected all 10 board nominees to one-year terms, ratified the selection of PricewaterhouseCoopers LLP as Altria’s independent registered public accounting firm for 2026, and approved executive compensation on an advisory basis. Following the meeting, Altria’s board declared a regular quarterly dividend of $1.06 per share, payable July 10, to shareholders of record as of June 15, with the same date serving as the ex-dividend date. Final voting results will be disclosed in a forthcoming Form 8-K filing with the U.S. Securities and Exchange Commission.

  • Crowned Heads Entering U.K. Market

    Crowned Heads Entering U.K. Market

    Crowned Heads is set to enter the U.K. market for the first time through a new distribution agreement with Barkers of Harrogate, according to Halfwheel. The Nashville-based cigar company has not yet begun shipments or confirmed a retail launch timeline, but the partnership marks a strategic expansion into a key international market. Barkers, an established distributor representing brands such as Gurkha and Macanudo, will handle distribution, aligning with Crowned Heads’ push to grow its global footprint in the premium cigar segment.

  • Al Fakher’s Nicotine Pouch Line Now Available

    Al Fakher says it has officially entered the nicotine pouch market with eight new products now available on Hookah.com. The company previously announced its intentions to launch a new tobacco-free product line and expand beyond its core hookah business into the fast-growing modern oral category at the Total Products Expo in March. The pouches come in four flavors inspired by the brand’s heritage—Frosty Apple, Spearmint, Mango, and Wintergreen—and are offered in 4 mg and 8 mg strengths, priced at $5.99 per can.

    Al Fakher said the move positions the company to tap into a global category growing at roughly 30% annually, while targeting consumers familiar with its flavor portfolio, particularly those connected to hookah culture.