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The change in outlook has been swift. Until the latest tax measures, ITC had ranked among the most favoured large-cap stocks on domestic brokerage lists, supported by steady cash flows from cigarettes and growing contributions from fast-moving consumer goods, hotels and paperboards. That balance has been questioned after the government raised duties on tobacco products, squeezing margins in the company’s most profitable segment.

ITC hit by analyst downgrades after tax move has become a defining theme in market commentary as earnings models are recalibrated. Analysts who turned cautious point to limited scope for further price hikes in cigarettes without risking volume erosion, at a time when consumption growth has already been uneven.

Cigarettes contribute a majority of ITC’s operating profit despite accounting for a smaller share of revenue, making tax changes particularly sensitive. The latest duty increase, structured through a combination of higher specific excise and cess components, has raised the effective tax burden across key cigarette categories. Brokerages estimate that, unless offset by price increases or cost efficiencies, operating margins in the segment could compress by 150 to 250 basis points over the coming quarters.

Some analysts expect ITC to pass on part of the tax through selective price increases, a strategy the company has used in earlier cycles. However, several broker notes highlight a more competitive environment, with illicit trade and regional players limiting pricing power. Volume growth assumptions for the cigarette business have been trimmed, with some forecasts now factoring in flat to marginally negative growth.

The reassessment has translated into rating cuts from buy to hold or equivalent neutral stances. Target prices have also been lowered, reflecting reduced earnings visibility and a narrower valuation premium for the cigarette franchise. A few brokerages have flagged that ITC’s valuation multiple had already priced in regulatory stability, leaving little cushion for adverse policy surprises.

Not all analysts are bearish. A significant portion of coverage has retained positive recommendations, arguing that the market reaction may be overdone. Supporters note ITC’s strong balance sheet, consistent dividend payouts and diversified portfolio as buffers against near-term volatility. The company remains debt-free and continues to generate robust free cash flow, providing flexibility to absorb tax shocks.

Attention has also turned to ITC’s non-cigarette businesses, which management has been positioning as long-term growth drivers. The FMCG segment, covering packaged foods, personal care and agri-branded products, has delivered double-digit revenue growth in several quarters, albeit with thinner margins. Analysts broadly agree that sustained investment is required before this segment can materially offset any slowdown in cigarettes.

The hotels business, demerged earlier into a separate listed entity, has been another focal point. While the demerger unlocked value and allowed sharper capital allocation, it also removed a stable earnings contributor from ITC’s consolidated results. Some analysts argue that the timing has amplified the perceived impact of the tobacco tax, as investors now view ITC more squarely through the lens of its cigarette exposure and FMCG transition.

Market participants are also weighing the broader regulatory backdrop. Tobacco taxation remains a policy lever tied to public health objectives and revenue needs, creating an element of unpredictability. Analysts caution that while steep tax hikes may not be annual, periodic adjustments are likely, keeping long-term risk premiums elevated for cigarette makers.

ITC’s management has yet to signal any immediate strategic shift in response to the tax increase. Past commentary has emphasised disciplined pricing, supply chain efficiencies and portfolio premiumisation to protect margins. The company has also highlighted investments in agri-sourcing and digital distribution to strengthen competitiveness across categories.

For investors, the debate has narrowed to whether the stock’s recent underperformance adequately reflects these risks. Some analysts see value emerging if earnings downgrades stabilise and FMCG margins continue to improve. Others maintain that sentiment will remain cautious until clearer evidence emerges that cigarette profitability can be sustained without sacrificing volumes.

Federal reforms regulating industrial hemp are reshaping the treatment landscape for sleep disorders, anxiety and epilepsy across the United Arab Emirates, as clinicians, researchers and regulators map how low-THC cannabis derivatives can be used safely within a tightly controlled system. The changes sit apart from the country’s framework on medical cannabis, which governs products with higher tetrahydrocannabinol content and remains subject to strict prescription and import rules.

The hemp law permits the cultivation, processing and use of cannabis varieties containing minimal THC, typically below 0.3 per cent, aligning the UAE with regulatory models adopted in several advanced economies. Officials say the objective is to unlock therapeutic and industrial value without opening pathways to recreational misuse. For patients, the most immediate implications are for cannabidiol-based preparations, which are non-intoxicating and increasingly studied for neurological and psychiatric conditions.

The policy shift creates new clinical options for people whose symptoms have proved resistant to conventional therapies. Insomnia and generalised anxiety disorder affect a growing share of the population, while epilepsy continues to pose treatment challenges for a subset of patients who do not respond adequately to standard anti-seizure medicines. Cannabidiol, or CBD, has drawn attention for its calming effects on the central nervous system and its role in reducing seizure frequency in certain epilepsy syndromes.

Specialists caution that hemp products are not a panacea. Evidence is strongest for specific childhood epilepsies, including Dravet and Lennox-Gastaut syndromes, where purified CBD has been shown to reduce seizure burden when added to existing regimens. Research into anxiety and sleep has produced more mixed findings, though small clinical trials and observational studies suggest benefits for sleep onset and stress modulation at carefully titrated doses.

Professor Barnes, a leading authority on cannabis medicine, notes that the global legal landscape has shifted rapidly. Medical cannabis containing higher THC levels is now legal in 71 countries under varying frameworks, reflecting broader acceptance of cannabinoid-based therapies when appropriately regulated. The UAE’s approach, by contrast, draws a bright line between hemp-derived products and medical cannabis, allowing limited therapeutic use while preserving the country’s zero-tolerance stance on recreational drugs.

Regulators emphasise that access will be medicalised rather than commercialised. Hemp-derived therapeutics are expected to move through pharmacy channels and clinical oversight, with product quality, labelling and traceability forming core pillars of compliance. Authorities have indicated that cultivation licences will be tightly issued, with genetics, THC thresholds and testing protocols specified to prevent diversion.

Healthcare providers see an opportunity to expand personalised care. Neurologists and psychiatrists report rising patient interest in non-sedating options that can be integrated with existing treatments. For epilepsy specialists, CBD’s favourable side-effect profile compared with some traditional anti-epileptic drugs is a significant draw, particularly for long-term management. Sleep physicians, meanwhile, are exploring whether hemp-derived formulations can reduce reliance on hypnotics that carry dependency risks.

Industry participants are preparing cautiously. Pharmaceutical distributors and research institutions are investing in clinical studies tailored to regional populations, recognising that dosage, formulation and delivery methods matter as much as legality. Oils, capsules and oral solutions are expected to dominate, given their dosing precision and lower risk profile compared with inhaled products.

Public health experts underline the need for clear guidance to avoid consumer confusion. Hemp products sold globally range from pharmaceutical-grade medicines to wellness supplements of uneven quality. The UAE framework seeks to close that gap by requiring evidence-based claims and physician involvement, reducing the risk of self-medication or exaggerated expectations.

The reforms also intersect with broader innovation goals. By enabling controlled research into cannabinoids, policymakers aim to position the country as a regional hub for life sciences, while maintaining strict ethical standards. Universities and hospitals are already collaborating on protocols to assess safety, efficacy and long-term outcomes in local cohorts.

Abu Dhabi Police have renewed warnings to motorists to maintain full attention at intersections and traffic signals, underscoring that brief lapses in concentration continue to rank among the leading causes of serious collisions on city roads. The force has emphasised that violations linked to distracted driving can trigger vehicle impoundment and an impoundment release fee reaching AED50,000, one of the toughest deterrents in the country’s traffic regime.

The advisory from Abu Dhabi Police highlights a pattern seen in crash investigations where drivers divert their eyes for seconds—often to mobile phones, dashboard screens or conversations—while approaching junctions. Officers say such moments are enough to miss a changing signal, fail to yield, or overlook pedestrians and cyclists, particularly during peak commuting hours.

Traffic and patrol officials note that intersections concentrate multiple risk factors: converging traffic streams, turning movements, pedestrian crossings and variable signal phases. A single distracted driver can therefore set off chain reactions involving several vehicles. Data reviewed by the force indicates that side-impact crashes at junctions account for a disproportionate share of severe injuries, reflecting the limited protection offered by vehicle sides compared with frontal impacts.

Under Abu Dhabi’s traffic law framework, distractions that contribute to dangerous driving are treated as high-risk offences. Police can impound vehicles involved in serious violations, with release subject to a fee of up to AED50,000 depending on the offence category and circumstances. The penalty is intended to reinforce behaviour change rather than operate as a revenue measure, officials say, pointing to parallel education and enforcement campaigns rolled out across the emirate.

The renewed messaging comes as vehicles become increasingly equipped with in-car technology. While advanced driver assistance systems are designed to enhance safety, police caution that overreliance on alerts, navigation screens or infotainment controls can create a false sense of security. Officers stress that such systems do not replace the driver’s responsibility to observe signals, mirrors and surrounding road users, especially at junctions where conditions change rapidly.

Road safety specialists working with authorities have also flagged a rise in “cognitive distraction,” where drivers keep their hands on the wheel and eyes forward but are mentally disengaged due to phone conversations or stress. Studies cited in safety briefings show reaction times can degrade significantly under cognitive load, reducing a driver’s ability to respond to a pedestrian stepping off the kerb or a vehicle braking suddenly.

Police patrols have intensified monitoring at high-risk intersections identified through collision mapping. These locations are selected based on traffic volume, past incident severity and proximity to schools, commercial centres and residential zones. Enforcement includes automated systems and on-ground patrols, with officers authorised to intervene immediately where behaviour poses imminent danger.

Public awareness efforts accompanying the enforcement push focus on practical guidance: slowing on approach to signals, scanning crosswalks even when the light is green, avoiding phone use entirely while driving, and anticipating red-light runners. Motorists are also reminded that penalties escalate when violations lead to injury or damage, extending beyond fines to black points, impoundment and potential court proceedings.

Transport planners in Abu Dhabi say engineering upgrades continue alongside enforcement, including improved signal timing, clearer lane markings and enhanced pedestrian phases at busy crossings. These measures aim to reduce conflict points, but officials emphasise that infrastructure cannot compensate for inattention behind the wheel.

Largest-ever Hong Kong Tech Pavilion features 3 Innovation Award-winning game-changers showcasing immense potential to scale

LAS VEGAS, US – Media OutReach Newswire – 2 January 2026 – Hong Kong Science and Technology Parks Corporation (HKSTP) and Hong Kong Trade Development Council (HKTDC) will join hands in spearheading the largest-ever Hong Kong Tech Pavilion to the annual Consumer Electronics Show (CES) in Las Vegas from January 6-9 (Tue-Fri). The showcase features 61 tech companies in a dynamic mix of early-stage and mature companies in AI, robotics, healthtech, and sustainability, to signify Hong Kong’s fast-rising technology advancements and the ability to empower innovators in and out of the city to scale imagination to global impact.

Taking centre stage this year, Hong Kong Tech Pavilion stars with several CES Innovation Award winning solutions, as well as world-firsts, in a display of technology strength across the Eureka Park and Global Pavilion that includes companies less than five years old and more established ventures. Highlights include:

• Widemount Dynamics Tech: named Best of Innovation for Product in Support of Human Security for All, their Smart Firefighting Robot is designed to detect fires, navigate smoke-filled environments, provide real-time mapping, and determine the best extinguishing agent to minimize costs and risks for losses of life and asset.
• PointFit: honored under the Digital Health category, the PF-Sweat Patch is an ultra-thin wearable built with patented biomarkers tracking technology, it offers a non-invasive alternative with continuous monitoring of vitals and performance for athletes and wellbeing enthusiasts.
• Eieling Technology: honored under the Digital Health category, FattaLab® is the world’s first intelligence-driven compact fatty liver diagnostic device, delivering assessment results with medical-grade accuracy in just 30 seconds. The high level of convenience promotes early treatment to those who suffer from the disease, enabling immediate preventive care, and potentially boosts longevity.

Happenings such as announcement, product launches and briefings, and conversations to business-match at the Pavilions are lining up. That includes an introduction of GumAI, a smart oral healthcare solution developed by Dentomi, sharing more on the “Dentist coming in handy” approach; a demonstration of how DRESIO puts forth its “AI Physiotherapy for Everyone” solution; the launch of “wuBiee & wuBiee wrap” that moftBODY integrates neuroscience into smart textile onto daily shapewear, and more awaits at the Pavilions. Click here for the full line-up at Hong Kong Tech Pavilion, and schedule your visit now.

In addition, a Hong Kong Tech Networking Reception will be held on Day 2, welcoming all interested parties to engage in conversations of potential partnerships, and explore on business opportunities with Hong Kong tech companies. Registration is now open with details of the Reception as follows:

• Date: 7 January 2026
• Time: 5:30 – 7:30 pm
• Venue: Mercato Della Pescheria, The Venetian

Appendix: List of 61 tech companies at Hong Kong Tech Pavilion, including 47 within the HKSTP ecosystem (in alphabetical order)

Remarks:

• The Hong Kong Tech Pavilion is located across Eureka Park (booth #63200, Hall G) and Global Pavilion (booth #50732, Hall A-D) at The Venetian Expo.

Hashtag: #HKSTP

The issuer is solely responsible for the content of this announcement.

HKSTP

More information about HKSTP is available at www.hkstp.org.

By Prabhat Patnaik The BJP-led government has just got parliament to pass a legislation permitting up to 100 percent foreign equity-ownership in India’s insurance sector. This, the Prime Minister has announced, marks the beginning of a major “reform” in India’s financial sector, towards presumably much greater private, including foreign, ownership of financial institutions. This would […]

The article Pushing The Financial System Towards A Dangerous Direction appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

By K Raveendran As Indian corporates step into the new year buoyed by stronger growth momentum and easing inflationary pressures, a sense of anticipation is spreading across boardrooms and policy circles alike over a dispute that dwarfs most corporate battles seen in the country’s history. At the heart of this confrontation lies the Indian government’s […]

The article Sensation Building Up Around Country’s Biggest Ever Arbitration Award appeared first on Latest India news, analysis and reports on Newspack by India Press Agency).

Venezuela has begun shutting oil wells in its prolific Orinoco Belt after storage filled up and inventories swelled, a move that underscores the operational strain facing the state producer as financial pressure from Washington tightens. The cutbacks, which started on 28 December, are set to lower heavy crude output by at least a quarter in the belt that holds the world’s largest known oil deposits, according to people familiar with internal operations.

Petroleos de Venezuela SA, known as PDVSA, is aiming to bring Orinoco production down to about 500,000 barrels a day, the people said. That reduction equates to roughly 15% of the country’s total output of around 1.1 million barrels a day. The wells were idled as tanks reached capacity and export bottlenecks left little room to keep pumping.

The Orinoco Belt, stretching across eastern Venezuela, has been the backbone of the nation’s oil recovery over the past two years as PDVSA revived projects, leaned on foreign partners and relied on intermediaries to place barrels abroad. Heavy crude from the belt requires blending and specialised handling, making storage constraints particularly acute when exports slow or logistics falter.

The curtailment comes amid a renewed effort by the Donald Trump administration to financially squeeze Caracas. Measures have focused on limiting cash flows and tightening scrutiny of trade channels that had allowed Venezuelan oil to reach global markets. While PDVSA has navigated sanctions for years through complex trading arrangements, the latest actions have reduced the room for manoeuvre.

Operationally, the impact is immediate. Engineers have prioritised shutting wells with higher water cut or maintenance needs, while keeping strategic upgraders running to preserve reservoir integrity. Restarting heavy-oil wells can be costly and time-consuming, raising the risk that some output may not return quickly even if conditions improve.

For the government in Caracas, the setback dents a fragile rebound that had lifted production from historic lows. Oil remains the main source of hard currency, funding imports and social spending. Lower volumes threaten fiscal plans at a time when inflation has moderated but public finances remain stretched.

Internationally, the cuts add a layer of uncertainty to heavy crude markets. Refineries in Asia and the United States Gulf Coast have relied on Venezuelan grades as substitutes for similar barrels from elsewhere. Traders said tighter availability could widen discounts and prompt buyers to seek alternatives from Canada or the Middle East.

PDVSA’s partners in the Orinoco Belt, including joint ventures with foreign companies, are also affected. Output reductions translate into lower liftings for partners and could complicate investment decisions. Several projects had been ramping up after maintenance and drilling campaigns, betting on stable export routes.

The government has framed the situation as a temporary adjustment driven by logistics rather than geology. Officials argue that reserves remain intact and that production can rebound once storage is freed and exports normalise. Behind the scenes, PDVSA has been exploring options to lease additional floating storage and accelerate shipments to Asia, though payment and insurance hurdles persist.

Analysts note that the episode highlights structural weaknesses. Venezuela’s oil infrastructure has suffered years of underinvestment, leaving little buffer when trade flows are disrupted. Power outages, pipeline leaks and equipment shortages have repeatedly constrained operations, forcing stop-start cycles that erode efficiency.

In the broader geopolitical context, the pressure campaign reflects Washington’s leverage over energy finance and shipping. Even when licences allow limited trade, banks, insurers and carriers often tread cautiously, amplifying the impact on producers like PDVSA. The result is a stopgap approach that prioritises managing bottlenecks over long-term optimisation.