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Category: Business & Finance

  • Altria and KT&G Partner in Pursuit of Modern Nicotine Growth

    Altria and KT&G Partner in Pursuit of Modern Nicotine Growth

    Altria Group, Inc. and KT&G Corporation announced they have signed a non-binding global collaboration memorandum of understanding (MOU) “to pursue joint growth opportunities in modern oral nicotine, non-nicotine wellness products, and operational efficiency in traditional tobacco.” The partnership builds on Altria’s long-term goal of expanding into adjacent international categories beyond cigarettes, first outlined in 2023.

    The companies said their complementary strengths would accelerate innovation and market expansion. As an initial step, an Altria subsidiary will acquire an ownership interest in Sweden-based Another Snus Factory (ASF), concurrent with KT&G’s purchase of the company, giving both parties a foothold in the LOOP nicotine pouch brand. They also plan to evaluate ways to expand Altria’s on! and on! PLUS oral nicotine products to select markets.

    Beyond nicotine, the collaboration extends into the U.S. wellness and energy space through Altria and KT&G’s Korea Ginseng Corporation, which will jointly explore new product opportunities. The two firms will also work to improve operational efficiency in traditional tobacco businesses, with the aim of strengthening competitiveness and creating transferable capabilities for future international smoke-free ventures.

  • STG Global Finance Files Interim Report, Valentin Officially Departs

    STG Global Finance Files Interim Report, Valentin Officially Departs

    Today (September 22), STG Global Finance B.V. held its general meeting, approving the annual accounts for STG Global Finance B.V. for the financial year 2024. Furthermore, Mette Valentin, senior vice president for legal and public affairs, officially resigned from the management board. Valentin announced her retirement in June after 30 years with STG.

  • Tobacco Tax Hikes No Longer Boosting Revenue, Says Dutch Officials

    Tobacco Tax Hikes No Longer Boosting Revenue, Says Dutch Officials

    The Dutch government’s tobacco tax hikes have stopped generating extra revenue due to cross-border cigarette purchases and declining smoking rates, according to a Ministry of Finance report. A 5-cent tax increase per pack was once projected to add €7 million annually, but that figure is now revised to zero. “At the current level of tobacco excise, further increases are expected to trigger strong behavioral changes that will fully offset any extra revenue,” the report stated.

    Finance officials expect tobacco tax receipts to hold steady at €2.5 billion in both 2025 and 2026, with the current excise duty set at €7.81 per pack and no further hikes planned. Customs data showed that 45% of cigarette packs lacked a Dutch excise stamp last year, up from 15% in 2021, illustrating the scale of cross-border buying. Most were legally purchased abroad, where prices are lower, but over 10% were counterfeit.

    Health officials say the hikes are curbing smoking, as the National Institute for Public Health and the Environment estimates 7% of smokers quit after the most recent increase, while 22% cut back.

  • VooPoo Launches Ultra-Light VMATE i3 Pod

    VooPoo Launches Ultra-Light VMATE i3 Pod

    VooPoo unveiled the VMATE i3, a compact pod system “designed to combine portability with powerful performance.” Weighing just 49.8g, the device features a 1500mAh battery with fast Type-C charging, delivering up to 30W output for both MTL and RDL vaping.

    The VMATE i3 includes a 3mL top-fill, leak-proof cartridge, compatibility with VMATE V2 pods, and a Neon Light Strip to indicate battery levels. With seven color options and enhanced safety protections through GENE AI 2.0, the device emphasizes convenience, reliability, and style.

    VOOPOO said the VMATE i3 is aimed at users seeking a lighter, everyday device without sacrificing endurance.

  • AOI Kenya Loses $183M Tax Case

    AOI Kenya Loses $183M Tax Case

    Alliance One Tobacco Kenya Limited (AOTKL) was ordered to pay the Kenya Revenue Authority (KRA) Sh23.7 billion ($182.8 million) after the High Court dismissed its appeal following a protracted tax dispute, ruling the company’s leaf processing amounted to “manufacturing,” and therefore was subject to excise duties, according to Daily Nation Africa. The ruling comes after years of wrangling over corporate income tax, excise duty, and value-added tax liabilities, with KRA alleging under-declarations and misclassification of tobacco products. According to filings, the revenue body argued that AOTKL reported discrepancies between sales declared for corporate tax versus VAT returns, while also disputing how the company classified stemmed tobacco and semi-processed products.

    “Our operations in Kenya ceased nearly 10 years ago; however, an excise tax matter with the Kenya Revenue Authority remains ongoing in the courts,” said Miranda Kinney, a spokesperson from AOI. “While we respect the judicial process, we strongly disagree with the position taken by the High Court and are pursuing all appropriate avenues of appeal. We remain committed to meeting our regulatory and tax obligations while maintaining transparent, responsible business practices. Given this is an ongoing legal matter, we cannot provide further comment at this time.” 

    According to Kenya Law Reporting, the case was brought before the Tax Appeals Tribunal, which in September 2024 issued a mixed ruling, partly upholding KRA’s claims. AOTKL’s transfer pricing practices also came under scrutiny, with KRA challenging documentation around full-cost mark-up adjustments with related parties. Ultimately, despite some partial relief from the Tribunal, the company has been ordered to settle the liability, making it one of the largest tax recoveries in Kenya’s tobacco sector.

  • Haypp Group Returns ZYN to U.S. Online Portfolio

    Haypp Group Returns ZYN to U.S. Online Portfolio

    Haypp Group announced that ZYN nicotine pouches are once again available for online purchase through its U.S. platforms, Nicokick.com and Northerner.com. According to the company’s press release, the relaunch covers 10 products that received FDA Marketing Granted Orders, offered in 3 mg and 6 mg strengths across flavors such as cinnamon, spearmint, wintergreen, and citrus.

    Peter Grafström, President of Haypp Group U.S., said the move is centered on compliance and adult-only access. “As a responsible online retailer, our priority is ensuring Nicokick and Northerner provide 21 and over consumers with responsible access to tobacco leaf-free alternatives to traditional tobacco products,” he said. The company emphasized its Legal Age Access Only Program and regulatory alignment as key safeguards.

    Haypp said ZYN has been one its top sellers, accounting for 46% of total U.S. sales on Nicokick and Northerner in Q2 2024. With more than 200 smoke-free nicotine alternatives now available across its U.S. e-commerce sites, Haypp says the relaunch reflects both strong consumer demand and the growing role of online retail in the nicotine pouch category.

    For more information, visit Nicokick and Northerner. 

  • Malawi Moves to Protect Forex Gains Beyond Tobacco Season

    Malawi Moves to Protect Forex Gains Beyond Tobacco Season

    Reserve Bank of Malawi (RBM) announced new measures to shield the kwacha and sustain foreign exchange reserves as tobacco sales taper off. RBM spokesperson Boston Maliketi Banda said the strategy aims to reduce Malawi’s reliance on seasonal inflows by formalizing mineral revenue, linking banks with exporters, and cutting the mandatory export surrender requirement from 30% to 25%. An electronic forex tracking system and tighter compliance checks on authorized dealer banks are also being introduced to curb illicit trade.

    The announcement follows a strong mid-year performance, with July’s trade deficit narrowing to $173 million and reserves climbing to $607.7 million, equal to 2.4 months of import cover. Tobacco alone has earned $525.4 million in 24 weeks, but RBM figures show the country’s cumulative trade deficit for January–June reached $1.6 billion, up 15% year-on-year. Economists caution that the gains could quickly erode once the season ends.

    “This is temporary relief,” said Scotland-based economist Velli Nyirongo, warning that without structural reforms and export diversification Malawi risks sliding back into wider deficits.

  • Chinese Tobacco Heading to Dominican to Boost Cigar Exports

    Chinese Tobacco Heading to Dominican to Boost Cigar Exports

    Dominican Tobacco International Ceiba general manager Bob López announced a “landmark collaboration” that will bring Chinese cigar tobacco to a new Dominican factory in Villa González in an effort to produce “cigars with unique flavors, greater consistency, and stronger market differentiation.”

    “By uniting Dominican craftsmanship with Chinese cigar tobacco, we are creating opportunities that not only increase the industry’s international competitiveness but also enrich the diversity of production styles and techniques in the Villa González region,” López said.

    The Chinese tobacco will be sourced from Sichuan, Hainan’s Danzhou Cigar Base, and Tianhe Company, and will be blended with Dominican craftsmanship. Positioned within a free trade zone, the factory is equipped with state-of-the-art infrastructure and large-scale capacity, ensuring compliance with international standards and efficient worldwide distribution.

    According to López, the venture will not only reinforce the Dominican Republic’s position as a leader in premium cigar manufacturing but also expand export opportunities to North America, Europe, and Asia. By fusing tradition with innovation, the project seeks to accelerate the internationalization of new brands, drive economic growth in Villa González, and diversify global cigar offerings. The first production phase is scheduled for early 2026, supported by ongoing recruitment of local talent.

  • Reynolds American Names New Senior CIO

    Reynolds American Names New Senior CIO

    Reynolds American Inc. appointed Dawn-Marie Hutchinson as senior vice president and Chief Information Officer, effective October 1, 2025. In her new role, Hutchinson will oversee technology strategy and operations, including digital workplace, core platforms, data and analytics, cybersecurity, and IT service delivery, while serving on the Reynolds American Leadership Team.

    Hutchinson joined Reynolds’ parent company BAT in 2021 after holding global CISO roles at GSK and Urban Outfitters Group. At BAT, she expanded the global cybersecurity program, launched a Cyber Defense Centre, and transformed governance, risk, and compliance functions. In her new role, she will focus on modernizing IT systems, enhancing operational resilience, and leveraging data and AI across Reynolds’ operating companies.

  • SKE’s ‘Less is More’ Strategy Working in UK

    SKE’s ‘Less is More’ Strategy Working in UK

    SKE says its cautious approach to the UK single-use vape ban is delivering strong results, with its SKE 600 PRO pre-filled pod device exceeding sales expectations. The company, previously a leading single-use vape provider, says it spent a year preparing for the June ban and launched the 600 PRO early to ensure a smooth transition for consumers. By keeping product changes minimal, SKE said, it aimed to make the shift to refillable devices as frictionless as possible, a strategy that has resonated with both retailers and distributors.

    Company executives said that around 14% of vapers are still using stockpiled single-use devices, signaling that gradual change is preferred and highlighting the success of SKE’s “less is more” approach.