The tobacco industry lobby won a significant victory recently when it succeeded in getting the government to amend the Tobacco Act 2003. The act had a provision for pictures displayed on products, warning about the harmful effects of smoking or consuming tobacco. These were to be displayed on all tobacco products like cigarettes, bidis and even gutkha.
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Reliance Industries buys out the Gapco group in East Africa
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Reliance Industries acquired the petroleum marketing operations of Gapco (Gulf Africa Petroleum Corporation). The acquisition has been done through a subsidiary and Reliance has not disclosed the consideration for the deal. Gapco owns a distribution network including retail outlets in countries like Tanzania, Uganda and Kenya. The company imports fuel and then supplies it to various consumers. Reliance would obviously seek to export its own fuel products through Gapco, boosting its retail margins. Continue Reading →