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Category: Business & Finance

  • Elitecon Inks $60M South African Tobacco Supply Agreement

    Elitecon Inks $60M South African Tobacco Supply Agreement

    Elitecon International entered into a Product Supply Framework Agreement with South Africa-based World Class 77 covering potential exports of cut blended tobacco, homogenized tobacco, cigarettes, and fast-moving consumer goods, according to a report in Business Standard. The agreement, signed Sept. 26, establishes an indicative program ceiling of up to $60 million, or approximately ₹574.2 crore, based on a contractual reference rate of ₹95.70 per U.S. dollar.

    The agreement runs through Aug. 31, 2027, and provides a commercial framework for Elitecon’s export supplies to South Africa. The company said the agreement is intended to support the continued development of its international business.

  • Cabbacis Reports $1.3M Loss in 1H 2026

    Cabbacis Reports $1.3M Loss in 1H 2026

    Cabbacis reported a net loss of $1.34 million for the first half of 2026, compared with $735,560 in the same period a year ago, while cash used in operations increased to $726,729 from $479,948. The development-stage tobacco company reported no revenue and said it had $61,220 in total liabilities. Cabbacis is preparing a Premarket Tobacco Product Application for its iBLEND very-low-nicotine cigarettes, which contain about 95% less nicotine than the average U.S. cigarette, and plans to begin a larger U.S. study following a six-week study of 70 adult smokers in Switzerland.

    The company also expanded its portfolio with X95, a very-low-nicotine cigarette made without hemp, and formed a wholly owned subsidiary to handle final processing of its hemp blends. Cabbacis has engaged Moody Capital Solutions to raise up to $7.5 million through a Regulation A offering, with about $1.7 million raised to date, and said proceeds will support product development, FDA filings, manufacturing scale-up, and other corporate purposes. The company said it expects to introduce its products in select international markets beginning in the first half of 2027.

  • IKE Tech Launches Continuous Compliance Platform for Nicotine Products

    IKE Tech Launches Continuous Compliance Platform for Nicotine Products

    IKE Tech LLC announced the launch of IKE 2.0, a platform designed to provide continuous compliance controls for regulated products, initially focusing on the global nicotine category. The platform connects identity verification, product authentication, configurable policy enforcement, and compliance intelligence across the product lifecycle, including after retail sale. The company said the system is designed to verify users, authenticate products, and apply requirements based on factors such as jurisdiction, product, and SKU.

    IKE 2.0 is available through a web platform for manufacturers and brand operators and a configurable consumer application. IKE Tech said the platform uses a Human Identity Token to abstract verified personal information, with biometric processing performed on-device. The company said it is SOC 2 Type II certified and designed for GDPR and CCPA compliance. The platform is covered by 11 issued patents, with additional applications pending.

    The company said its technology was the subject of a standalone component PMTA filed with the FDA in April 2025 for interoperable age-verification technology, which the agency accepted for review in 2025. IKE Tech said a controlled Human Factors Study involving 102 participants prevented underage device activation in all attempted cases, while reporting a 91% adult ease-of-use rating and a user error rate below 1%. The study has not been peer-reviewed.

  • BAT Urges UK Retailers to Respond to Nicotine-Product Consultation

    BAT Urges UK Retailers to Respond to Nicotine-Product Consultation

    British American Tobacco continues to urge UK retailers to respond to the government’s consultation on proposed changes to the packaging, appearance, display, and marketing of tobacco and vape products before it closes Oct. 2. BAT UK and Ireland Commercial Director Tolga Kilic said retailers’ experience should inform the final regulations and urged them to highlight potential operational and financial impacts.

    Kilic cited the government’s impact assessment, which estimates vape retailers could face more than £420 million in cumulative lost profits through 2036 from proposed point-of-sale display restrictions. The consultation also covers product packaging, flavor descriptions, and other measures affecting the sale and presentation of nicotine products.

  • JT to Launch Limited-Edition ‘Seven Star’ Packaging in Japan

    JT to Launch Limited-Edition ‘Seven Star’ Packaging in Japan

    Japan Tobacco (JT) said it will launch limited-edition “Black Edition” packaging for four Seven Star cigarette products in Japan, with advance sales beginning Oct. 5 through the CLUB JT online shop. Nationwide sales at convenience stores and tobacco retailers will begin Oct. 19, with the products available in limited quantities.

    The four products — Seven Star, Seven Star Box, Seven Star 10 Box, and Seven Star 7 Box — will retain their existing tobacco specifications and retail for ¥600 ($3.78) per pack, including tax. The limited-edition packages feature an all-black matte design with a silver Seven Star logo. JT said Seven Star ranked first in brand sales volume in Japan’s domestic cigarette market as of the end of June 2026.

  • JTI Invests $33.6M to Upgrade Factory in Philippines

    JTI Invests $33.6M to Upgrade Factory in Philippines

    JT International Asia Manufacturing Corporation (JTI-AMC) said it invested more than PHP2.1 billion ($33.6 million) to upgrade its manufacturing facility in LIMA Estate, Batangas, including PHP1.9 billion ($30.4 million) for a new Dry Ice Expanded Tobacco (DIET) plant and more than PHP177 million ($2.8 million) to expand its controlled atmosphere (CA) treatment facility. The CA facility became operational in July, doubling the site’s treatment capacity.

    The Batangas factory is the first JTI manufacturing site in Southeast Asia to use DIET technology. JTI-AMC Factory Lead Philippines Amir Vajdi said the investments reflect the company’s confidence in the Philippines and will support the facility’s manufacturing capabilities and technical expertise.

  • Juul Buyers Defend Antitrust Classes

    Juul Buyers Defend Antitrust Classes

    Juul purchasers are defending the certification of several antitrust classes before the U.S. Court of Appeals for the Ninth Circuit in litigation stemming from Altria Group’s 2018 investment in Juul Labs. Plaintiffs argue that differences in purchase volumes, transaction terms, and state laws do not prevent the claims from being resolved on a classwide basis. The Ninth Circuit granted review of the class-certification orders in April.

    The litigation involves three named direct purchasers, seven named indirect purchasers, and five named indirect resellers of JUUL products. In February, U.S. District Judge William Orrick of the Northern District of California granted certification to the direct purchaser class and granted portions of the certification motions filed by indirect purchasers and resellers. The plaintiffs allege that an agreement between Altria and Juul restrained competition in the closed-system e-vapor market and resulted in higher prices; Altria and Juul deny the allegations and maintain that the transaction did not violate antitrust laws or produce anticompetitive effects.

    The Ninth Circuit case includes separate appeals concerning the certified classes, with the U.S. Chamber of Commerce also urging the appeals court to reverse the multistate certification. The Chamber has argued that the district court improperly combined California substantive law with damages laws from 26 other states, while the purchasers maintain that the classes satisfy federal requirements for class actions.

  • PMI Expands Global Services Hub in Philippines

    PMI Expands Global Services Hub in Philippines

    Philip Morris International’s global business services hub in Makati, Philippines, added more than 80 positions as it moved into higher-value services at its 8 Rockwell location. PMI Business Solutions Philippines began operations in 2021 with a focus on finance and information technology services for 20 markets. The hub now employs more than 500 professionals providing 600 services across finance, human resources, IT, commercial services, data analytics, supply chain, project management, and fleet services for 160 markets.

    PMIBS President Harry Tan said the company plans to use artificial intelligence to support more complex services and is focusing on talent development, operational expansion, and AI transformation. Philip Morris Fortune Tobacco Corporation President Zhenya Ivanov reaffirmed PMI’s commitment to the Philippines and PMIBS’ role in the company’s broader transformation and growth. The Makati facility is PMI’s second global business services center and its first in Asia.

  • China’s STMA Gets New Deputy Director

    China’s STMA Gets New Deputy Director

    China’s State Council announced numerous appointments and removals September 20, including naming Zhang Xiaotang as deputy director of the State Tobacco Monopoly Administration (STMA). The STMA has also listed Zhang as a member of its Party leadership group and deputy director.

    Zhang, who holds an MBA and is a senior accountant, served as Party secretary and general manager of Hebei China Tobacco Industry Co. since November 2022. He previously held positions in the STMA’s financial management and supervision department, serving as deputy director from December 2018 and director from November 2019. Yao Laiying was appointed STMA director in April 2026.

  • Pseudonicotine Up, Synthetic Nicotine Down in Korea

    Pseudonicotine Up, Synthetic Nicotine Down in Korea

    Imports of pseudonicotine into South Korea’s surged after the government expanded tobacco regulations to cover synthetic nicotine, according to data from the Korea Customs Service. From April through August 2026, 12,126 kg of pseudonicotine valued at $463,422 was imported, with imports reaching 10,222 kg in April compared with 364 kg when customs began separately tracking the product category in October 2025.

    By comparison, synthetic nicotine imports fell sharply after regulation took effect in April. Imports totaled 231,663 kg from April through August, down from 1.28 million kg in the first three months of 2026. National Assembly member Moon Jin-seok said the shift raises concerns about tax avoidance because pseudonicotine is not currently subject to the same taxation as synthetic nicotine, and called for changes to the legal definition of tobacco.