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Tobacco firm accused of ‘systemic fraud’

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Tobacco giant Philip Morris Fortune Tobacco Corp. has sought permission to manufacture four variants of its Marlboro products as low-priced cigarettes. AP

The local arm of the manufacturer of Marlboro cigarettes Friday accused its fiercest competitor, homegrown Mighty Corp., of “systematic and endemic fraud” over alleged non-payments of duties on the tobacco leaf and filters that the latter imports.

Posted: October 25th, 2014 in Editor's Pick,Headlines,Latest Business Stories | Read More »

Sin tax sends premium brands beyond poor’s reach

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A vendor sells cigarettes at a supermarket in Quezon City. AFP FILE PHOTO

The enactment of the Sin Tax Reform Law pushed up the prices of cigarettes made by Philip Morris Fortune Tobacco Corp. (PMFTC)—the country’s largest tobacco firm—beyond the reach of those from the lower economic strata.

Posted: November 3rd, 2013 in Editor's Pick,Headlines,Latest Business Stories | Read More »

Philip Morris: No price hike yet

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A vendor sells cigarettes at a supermarket in Quezon City. AFP FILE PHOTO

Cigarette maker Philip Morris Fortune Tobacco Corp. (PMFTC) on Friday appealed to its distributors and retailers to sell its products at pre-sin tax recommended retail prices, saying it has not yet raised the prices of its cigarette products.

Posted: January 5th, 2013 in Latest Business Stories | Read More »

Philip Morris suspends exec who beat traffic enforcer

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Screengrab from Youtube.com

Philip Morris Fortune Tobacco Corp. has suspended Robert Blair Carabuena, who was videoed slapping a traffic enforcer of Metro Manila Development Authority during an altercation on August 11.

Posted: August 16th, 2012 in Latest Business Stories | Read More »

$200-M investment shelved for now–BAT

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British American Tobacco will hold back its investments worth $200 million until the amended version of the excise tax reform law gets passed, company officials said in a briefing Thursday.

Posted: July 12th, 2012 in Headlines | Read More »

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