Philip Morris International, the makers of Marlboro, the world’s best-selling cigarette brand, has won the right to take its case against marketing restrictions and graphic health warnings in the South American country to the World Bank’s arbitration tribunal, ICSID. Read more
A recent conference held by the China Medical Board, a US foundation, on China and the Global Burden of Disease identified smoking as the third greatest risk to health in the country, behind dietary risks and high blood pressure but ahead of China’s deadly environmental pollution about which so much has been written.
Asia is one of the last great global bastions of smoking, with China and Indonesia – the first and fourth most populous countries in the world – setting the regional lead. China alone is home to more than a third of the world’s smokers, puffing away at a rate of more than 2tn cigarettes a year. Read more
Carlos Slim is always on the move: reviewing, restructuring and reinventing his companies.
His latest action in this direction came on Tuesday with his industrial conglomerate, Grupo Carso, exiting its investment in Philip Morris México (PMM). Carso agreed to sell its remaining 20 per cent stake for $700m to Philip Morris International (PMI), which becomes sole owner of PMM. Read more
After years of debate, enhanced tobacco controls are finally coming to Indonesia, one of the world’s least regulated and (surprise, surprise) largest tobacco markets.
But analysts reckon big cigarette companies in Indonesia, from local players such as Gudang Garam to the likes of Philip Morris International and British American Tobacco, need not be too worried. Read more
Promoting its recent World Tobacco Asia conference in Jakarta, UK-based organiser Quartz Business Media was unashamed, noting on its website that “Indonesia is a recognized tobacco-friendly market with no smoking bans or other restrictions and regulations in contrast to neighbouring Asean countries.”
With 61m smokers – that’s 67 per cent of all men and 5 per cent of women – and an average 20-pack costing just Rp12,700 ($1.32), Indonesia is the world’s fourth biggest cigarette market, in addition to being one of the least regulated. Read more
When Russians and Turks spend, they also spend on cigarettes. This year’s surge in Russian and Turkish consumer activity has given a welcome boost to Philip Morris International, the US tobacco group.
As the company warned last month, the financial benefits would have been even greater had it not been for the recent turmoil in emerging market currencies. “Currency headwinds” held the company back, turning a 3.4 per cent gain in operating income before currency adjustments into a 2.7 per cent decline. Expect more such announcements from multinationals active in emerging markets. Read more