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Key point: Nine UK local councils have conducted no investigations or prosecutions against illegal or counterfeit tobacco over the past five years. HMRC estimates illegal tobacco has caused £9.3 billion in tax losses since 2018.
Key point: Russia’s Health Ministry opposes banning nicotine products, saying it would lead to substantial tax revenue losses.
Key point: A Korean investment company reduced its holdings in Philip Morris International, lowering its stake by 5.9%. PMI shares rose by US$0.31 in midday trading.
Key point: The UK discards 5 million disposable vapes every week, creating fire and explosion risks. Retailers and manufacturers should promote recycling and improve product design.
Key takeaway: JPMorgan lowered its price target for Imperial Brands (LON: IMB) from $29.40 to $28.15. The firm currently maintains an Overweight rating on the stock.
Key takeaway: KT&G received a top honor at the 2023 Culture Awards for its investment in culture and the arts and its community-building initiatives, including five cultural and arts projects nationwide.
Key takeaway: Wang Juncheng, general manager of Russian customs clearance company Esuqing, said companies planning to launch compliant products in the Russian market should make full preparations at least three months in advance.
Key takeaway: Malaysia's Minister of Youth and Sports Hannah Yeoh called for immediate regulation of vaping devices; her ministry has also designated its complex as a smoke-free area where vaping is prohibited.
Key takeaway: Wimbledon council in the UK unanimously voted to support a ban on disposable vapes. Councillor David Chambers said vaping products promoted by manufacturers and distributors to attract children are harmful.
Key takeaway: Brazil's highway police and military police jointly busted a vaping product smuggling case involving goods from Paraguay, seizing a total of 965 smuggled vaping devices.
Key takeaway: The Vietnamese government has decided to set the import tax on vaping products at 50%, the same rate as traditional tobacco products, to prevent widespread circulation in the market and further restrict distribution.
Key takeaway: In Glasgow, UK, trading standards officers and police used a sniffer dog named Boo during an operation that uncovered thousands of illegal cigarettes, illegal vaping devices, and tobacco products in four shops.