Posts Tagged ‘business’

Bat Calls for Review of Cigarette Tax

BRITISH American Tobacco Company has faulted the recently introduced tier based excise tax regime on cigarettes saying it is not sustainable for the industry and should be revised. Speaking during the company’s 59th annual general meeting in Nairobi yesterday, the firms management expressed concern over the impact the current excise tax regime could have on its business in the long term. “We need the government to have a clear sustainable position on excise tax. The idea of changing the structure six months after budget reading in December makes it difficult for businesses to forecast,” noted BAT Managing Director Gary Fagan. ... read more >>

Oregon lawmakers aim to limit growth of hookah lounges

SALEM — As Oregon lawmakers and advocacy groups have sought to make the state’s indoor buildings smoke free, they say one type of business was unintentionally exempted from the rules — hookah lounges. Hookah lounges are popular among college-age kids, who frequent the businesses to hang out, study and socialize while smoking flavored tobacco from water pipes. ... read more >>

Bill seeks $1.50 hike in Maine cigarette tax

AUGUSTA, Maine — A bill to increase Maine’s cigarette tax by $1.50 per pack to $3.50 has encountered opposition in the State House from convenience stores, grocers and other businesses that deal with tobacco. The Taxation Committee on Wednesday took up a bill supporters see as a way to help discourage young people from smoking. Money from the tax increase would help fund the operation of a tobacco help line. ... read more >>

Cigarette-making shops start drawing attention

RACINE COUNTY – Some states are looking at make-your-own-cigarettes shops and smelling something foul. The Wall Street Journal reported that New Hampshire sued several retailers, contending they act as cigarette manufacturers and should pay applicable fees. Michigan recently warned shops there that using the machines constitutes manufacturing; it said they must obtain a manufacturer license and meet other requirements or face criminal and civil penalties. Michigan also said retailers could not sell cigarettes without a tax stamp or face penalties. ... read more >>

JTI, КТ&G Said to Eye Bulgaria’s Bulgartabac

Korea’s КТ&G, Japan Tobacco International, Czech and British investment funds have declared interest in the privatization of Bulgaria’s state cigarette producer Bulgartabac Holding. Korean KT&G had voiced interest in the privatization of Bulgartabac as early as during the term of the government of Simeon Saxe-Coburg. KT&G is the largest cigarette and tobacco company in Korea, whose share accounts for 80% of the local market. Over the last ten years the company has been purchasing from Bulgartabac Bulgarian tobacco used in the manufacture of cigarettes. ... read more >>

Philip Morris Int’l CFO Hermann Waldemer talks about the Japanese cigarette market

March’s earthquake and tsunami in Japan offered up an opportunity for Marlboro maker Philip Morris International. Japan Tobacco Inc., the world’s No. 3 tobacco maker, suspended shipments of cigarettes within the country because of disruptions in supply. It planned to halt shipments of all tobacco brands, including the popular Camel and Winston cigarettes, from March 30 to April 10. ... read more >>

Smoking restrictions

Say this for the Macon City Council and its decision to tighten smoking restrictions: The council was bound to anger a lot of people however it voted on the matter, but it didn’t duck the issue. The new ordinance, which goes into effect Sept. 1, will eliminate smoking in bars and nightclubs and just about every other indoor place besides private homes. It also bans smoking outdoors within 10 feet or a reasonable distance of entrances to businesses. Businesses could face fines of up to $500, and repeat offenders could have licenses yanked. ... read more >>

Bringing cigarette-tax stamps back would raise money, fight crime

Legislators are trying once again to curb cigarette smuggling, both into and out of North Carolina, by re-establishing a stamp on cigarette packs. This year, the odds look better than in the past, and that is good. North Carolina has long had one of the lowest state cigarette taxes. Because of that, organized crime and terrorist organizations have bought cigarettes here and resold them illegally in high-tax states. In recent years, cigarettes have also been smuggled into North Carolina, costing the state tax revenue. ... read more >>

Altria Q1 Profit Rises, But Full-year View Unchanged

Marlboro cigarette maker Altria Group, Inc. reported Wednesday higher first-quarter profit, but left its full-year guidance unaltered as it sees the business environment to remain challenging amid high unemployment and economic concerns. Quarterly revenues declined from a year ago, reflecting weak consumer spending and ongoing tobacco-control efforts, including smoking bans. ... read more >>

Growing Tobacco

LAS VEGAS, Nev. — Despite economic turbulence and legislative challenges, tobacco retailers continue to be invested in their stores, according to results of the first NATO-CSP Tobacco Survey, which were revealed during the kickoff session of the NATO Show. According to the survey, sponsored by Swedish Match, 43 percent of the 160 convenience stores and tobacco outlet respondents (representing nearly 11,000 stores) said they increased their store count over the past three years. ... read more >>

Tobacco Rakes in U.S.$220 Million

EXPORTS of processed flue-cured tobacco have so far raked in US$219,7 million since the beginning of the year as China remained the biggest buyer of the country’s golden leaf. The money was raised from the sale of 18,8 million kg sold at an average price of US$5,24. Normally, tobacco bought in any particular year is sent for processing, which, in some cases, includes the stripping off of the stem from the leaf or any other condition that may be prescribed by the buyers. ... read more >>