Many brewers in Vietnam, one of the largest beer markets in Asia, are calling for the government to rethink its new luxury tax policy, saying higher taxes will push prices up and hurt sales.
According to local media reports, the companies said at a meeting on Wednesday that they are very concerned about their business. (more…)
The Ministry of Finance of Vietnam has issued two new laws that regulate the calculation and payment of special consumption tax. The tax came into force from the beginning of 2016. (more…)
China Resources Beer, which bought out SABMiller’s joint venture stake in the company earlier this month to smooth the way for AB InBev’s takeover of the London-listed brewer, today announced a nearly 14 per cent rise in profits on its beer operations last year, despite a soft Chinese beer market. (more…)
Danish brewer Carlsberg said on Wednesday it swung to a pretax loss of 1.73 billion Danish crowns ($261.8 million) in 2015 after it booked impairment and restructuring charges of around 10 billion crowns, mainly in the third quarter. (more…)
Danish brewer Carlsberg on Wednesday announced new strategic plans to strengthen its core business and capture growth opportunities. (more…)
The world is watching a slowing China and is increasingly concerned that China’s consumers are about to close their wallets. A new report from consultancy McKinsey & Co. says that won’t likely be the case. Here are five takeaways from the report, which surveyed 10,000 consumers, ages 18 to 65, across 44 Chinese cities. (more…)
The Tamil Nadu State Marketing Corporation (TASMAC) has assured the first Bench of Madras High Court that it would collect data on location of its retail shops in the State and identify those near places of worship or educational institutions in six months and shift those outlets to other permitted places in another six months. (more…)
According to Rosstat, in January 2016 beer production in Russia decreased by 0.4% to 40.6 million decalitres. (more…)
Boards of United Breweries, Sanofi India and Bayer CropScienceBSE 0.21 % — all chaired by Vijay Mallya — have not yet seen any revolt against the beleaguered business tycoon almost two weeks after he left the country even as lenders initiates loan recovery proceedings against him. (more…)
Beverage companies seek to delay until the beginning of 2017 the application of amended regulations on calculating their special consumption tax, claiming they need more time to adjust their production plans. (more…)
