EU to scrap import duties on 80% of Armenian products amid Russia trade squeeze
The Council of the European Union has agreed to suspend import duties on a range of Armenian products for two years t...
As U.S. authorities intensify their crackdown on unauthorized e-cigarette products, several vape companies are altering their business models and corporate structures—efforts that are complicating regulatory enforcement.
The U.S. Food and Drug Administration confirmed that it is closely monitoring instances where firms change product labeling or shift operations offshore in order to avoid detection. For example, Chinese vape giant Heaven Gifts has transferred the U.S. operations of its Lost Mary brand to a British Virgin Islands (BVI) firm, Wonder Ladies Limited, after the FDA banned several companies, including those linked to Elfbar, from importing products in 2023. Lost Mary remains widely available in the United States, with its packaging now displaying the BVI firm's name and address.
Similarly, Texas-based Ludicrous Distro, operating as American Vape Company, has ceased selling its own unlicensed Esco Bars and now exclusively distributes unauthorized devices from third parties. A representative from Ludicrous Distro declined to elaborate on the shift, but maintained that the company has consistently sought to comply with evolving FDA policies despite ongoing regulatory confusion.
The FDA’s efforts to restrict unauthorized vaping products have been hampered by funding limitations and recent staff dismissals amid broader federal downsizing initiatives. To date, the regulator has authorized only 34 tobacco- and menthol-flavored vape products - exclusively from major tobacco firms - even as numerous unapproved products, including brands like Elfbar, Lost Mary, and Esco Bars, continue to dominate the U.S. market.
Industry competitors are also taking notice. British American Tobacco has launched complaints with the U.S. International Trade Commission against various vape brands and associated manufacturers, naming several BVI firms - including Wonder Ladies and others tied to Heaven Gifts - as part of alleged unfair competition and patent infringement cases. Representatives from BAT have declined to comment on the matter.
While companies like Heaven Gifts insist that their corporate restructurings are lawful and do not intend to sidestep FDA regulations, critics argue that such maneuvers serve to obscure accountability and protect revenue streams from enforcement actions. A former official at the U.S. Bureau of Alcohol, Tobacco, Firearms and Explosives suggested that distancing vape brands from their manufacturers via offshore entities could become a widespread tactic.
As U.S. regulators grapple with these evolving strategies, the ongoing enforcement challenge highlights the broader difficulties in policing a rapidly changing market where unauthorized products continue to thrive despite stringent rules.
Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan have concluded talks in Bishkek, the capital of Kyrgyzstan, as leaders gather for the Shanghai Cooperation Organisation (SCO) summit.
Leaders of the Shanghai Cooperation Organisation (SCO) have gathered in Bishkek for a summit focused on trade, investment and transport as the group marks 25 years since its creation.
U.S. forces struck two Iranian rocket launchers on Larak Island on Sunday, with Tehran responding by launching ballistic missiles at two U.S. bases in Jordan in the first direct U.S.-Iran military escalation in weeks.
The U.S. has launched a fresh wave of strikes on Iran, targeting Islamic Revolutionary Guard Corps (IRGC) sites as Tehran retaliated against U.S. positions across the region, while Iranian officials said at least five people were killed and dozens wounded at a wedding near Sirik.
Apple is entering a new era as Tim Cook steps down as chief executive after 15 years at the helm, handing the technology giant's leadership to longtime executive John Ternus.
Volkswagen is heading towards a decisive showdown with labour representatives as Germany's largest carmaker weighs sweeping restructuring measures that could lead to factory closures and tens of thousands of job losses.
Online fast-fashion retailer Shein is seeking to raise up to $1.77 billion in a Hong Kong IPO after its valuation fell around 70 per cent from its private-market peak four years ago.
Kazakhstan has received a fresh vote of confidence in its economy after S&P Global Ratings upgraded the country’s credit rating, citing stronger public finances, solid reserves and steady economic growth.
AnewZ Business Europe, a new weekday programme, takes viewers inside companies driving growth and innovation across the continent, with Brickken CEO Edwin Mata joining the programme for its first episode with host Chief Global Editor Guy Shone. The show airs every Friday.
Once associated mainly with Muslim-majority countries, Islamic finance has become a global industry. Its assets reached around $5.98 trillion in 2024, according to ICD-LSEG, as more countries explore Shariah-compliant finance.
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