25, Oct 2026
ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

ST Engineering iDirect

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

Cision View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918478.html

24, Oct 2026
Gujarat, Odisha Seek Industrial Partnerships Ahead of Vibrant Gujarat Global Summit 2027

Bhubaneswar, Oct 24: Gujarat and Odisha are exploring new avenues for industrial cooperation, with a focus on connecting Odisha’s established metals and minerals sector with Gujarat’s growing semiconductor, renewable energy and advanced manufacturing industries ahead of the Vibrant Gujarat Global Summit (VGGS) 2027.

Gujarat, Odisha Seek Industrial Partnerships Ahead of Vibrant Gujarat Global Summit 2027

The opportunities were discussed at a summit roadshow held at Vivanta in Bhubaneswar, where government officials and industry representatives explored potential investments, technology collaborations and business partnerships between the two states.

The initiative aims to strengthen inter-state industrial ties, encourage investment and create opportunities for businesses and institutions in Odisha to engage with Gujarat’s expanding industrial ecosystem.

Gujarat Highlights Complementary Industrial Strengths

Ahead of the roadshow, Gujarat Minister of State for Industries and MSMEs Jayram Gamit and Lochan Sehra, Secretary in the Labour, Skill Development and Employment Department, held meetings with representatives of companies and institutions to discuss possible areas of cooperation.

Addressing the gathering, Gamit highlighted the complementary economic strengths of Gujarat and Odisha. While Odisha has a well-established base in minerals, metals and aluminium, Gujarat offers industrial infrastructure, port connectivity, semiconductor capabilities, renewable energy resources and access to global markets.

He said closer collaboration between industries, entrepreneurs and young professionals from both states could open up fresh opportunities for innovation, employment and shared economic growth.

Gamit also linked the proposed cooperation to the broader national vision of building a developed India by 2047 under the leadership of Prime Minister Narendra Modi.

Semiconductors, Renewable Energy in Focus

The roadshow underscored the potential for Odisha-based industries to build stronger connections with Gujarat’s semiconductor ecosystem, advanced manufacturing facilities and logistics networks.

Such partnerships could help businesses explore new supply-chain opportunities, technology exchange and investment avenues across sectors. Odisha’s existing industrial base in metals and minerals could complement Gujarat’s capabilities in emerging technologies and manufacturing.

According to the Gujarat government, the state contributes 17 per cent of India’s manufacturing output and accounts for 25 per cent of the country’s merchandise exports, reflecting its significant role in the national industrial economy.

The event also featured a presentation on VGGS 2027 by Sehra, along with a showcase highlighting Gujarat’s semiconductor industry, textiles and renewable energy sector.

Industry representatives shared their experiences and views on business prospects and industrial development, adding to discussions on potential areas of collaboration.

Vibrant Gujarat Summit Scheduled for January 2027

The 11th Vibrant Gujarat Global Summit will be held in Gandhinagar from January 10 to 12, 2027, under the theme “Viksit Gujarat – Shaping Global Future.”

The Gujarat government has invited businesses, start-ups and industry institutions from Odisha to participate in the event and explore investment opportunities and strategic partnerships.

The roadshow in Bhubaneswar forms part of the outreach ahead of the summit, with a broader objective of strengthening industrial cooperation, encouraging cross-state investment and building stronger supply-chain links.

As both states look to expand their industrial capabilities, the proposed engagement offers an opportunity to connect Odisha’s traditional strengths in minerals and metals with Gujarat’s growing presence in semiconductors, clean energy and advanced manufacturing.

24, Oct 2026
Philip Morris International Reports 2026 Third-Quarter & First Nine-Months Results and Updates 2026 Full-Year Adjusted Diluted EPS Forecast for Currency Only

Third-Quarter Reported Diluted EPS declined by 4.9% to $2.12;

Adjusted Diluted EPS grew by 5.4% to $2.36; and by 5.8% excluding currency

STAMFORD, Conn. and NEW DELHI, Oct. 23, 2026 /PRNewswire/ — Philip Morris International Inc. (PMI) (NYSE: PM) today announces its 2026 third-quarter results.1

Philip Morris International (PMI) Logo

“We delivered another excellent quarter, with growing total volumes, double-digit organic operating income growth and robust margin expansion,” said Jacek Olczak, Group CEO, PMI.

“With continued strong offtake momentum for our smoke-free brands and the exceptional results of our combustible business, we are in a strong position to continue delivering best-in-class performance, and firmly on track for a sixth consecutive year of volume growth.”

1 Explanation of PMI’s use of non-GAAP measures cited in this document and reconciliations to the most directly comparable U.S. GAAP measures can be found in the “Non-GAAP Measures, Glossary and Explanatory Notes” section of this release, in Exhibit 99.2 to the company’s Form 8-K dated October 21, 2026, and here.

Results Highlights – Third Quarter 2026

Shipments increased by 0.6% in the quarter, driven by a 2.7% increase in smoke-free products (SFP), with shipment growth across all categories, supported by high single-digit growth in SFP adjusted in-market sales (IMS), which is the closest proxy to consumer offtake. This was complemented by the continuing resilience of the combustible segment, notably in markets where SFPs are banned or have a limited market presence.

Net revenues increased by 5.5% (7.1% organically) to $11.4 billion, with growth across both smoke-free (up by 4.1%, 6.3% organically) and combustibles (up by 6.4%, 7.7% organically). Our smoke-free business accounted for more than 40% of total net revenues in the third quarter, and around 42% on a year-to-date basis, with more than 30 markets above 50%. PMI smoke-free products are now available in 110 markets.

Gross profit increased by 6.7% (8.3% organically), expanding gross margins through strong combustible pricing, scale and SFP mix benefits. Operating income increased by 14.1% (10.5% organically), reflecting the underlying strength of the business. This strong financial performance represents a new record quarterly high of net revenue, gross profit and operating income for the group.

Reported diluted EPS of $2.12 declined by 4.9%, mainly due to the non-cash fair value adjustment for equity security investments. Adjusted diluted EPS grew by 5.4%, or by 5.8% excluding a one cent unfavorable currency impact to reach $2.36, another quarterly all-time high.

International Smoke-Free Segment

Net revenue growth of 0.7% (3.4% organically) was driven by 2.7% volume growth, against the backdrop of a challenging HTU comparison due to the phasing of shipments between periods, notably in Japan. Strong adjusted IMS momentum continued, with an acceleration to 8.0% growth. Gross profit grew by 0.8% (3.3% organically).

Heat-not-burn SFP: IQOS continued to lead the growth of the global category, in which PMI holds around three-quarters of HTU volume share. IQOS HTUs gained 1.0pp to reach 9.9% of combined cigarette and HTU industry volumes in markets where present and grew shipment volumes by 1.5% to 41.5 billion units, at the high end of our previously disclosed expectations. HTU adjusted IMS grew by 7.1%. Excluding Japan and Poland, adjusted IMS continued to grow in the double digits, increasing by 10%, reflecting broad-based growth across a variety of markets, underscoring the increasing geographic diversification of IQOS.

  • In Japan, PMI HTU adjusted IMS grew by 3.4%, or by 1.3% excluding the estimated consumer pantry-loading impact ahead of the October 1 excise-driven price increase (JPY20 per pack). This continues to be broadly in line with our expectations as consumers adjust following the first excise-driven price increase (JPY40 per pack) on April 1. IQOS maintained a strong category share at 68%, with SENTIA continuing to play a key role in capturing price-sensitive TEREA consumers.
  • In Europe, IQOS HTU adjusted IMS growth strengthened to an estimated 6.0%, notwithstanding ongoing disruptions in Ukraine and the continued impact of the characterizing flavor ban in Poland. IQOS HTU adjusted market share increased by 0.9pp to 11.6%. This growth was led by strong performance in many markets, notably Germany, Greece, Spain and Romania. Adjusted IMS in Italy continued its strong growth trajectory, underscoring the category’s significant potential across the region. Excluding Poland, adjusted IMS volumes grew by around 8%.
  • Outside Europe and Japan, adjusted IMS grew by 12.7% and offtake share increased in key cities across the globe, including Riyadh, Kuala Lumpur, Mexico City, Jakarta and Taipei, underlining the global growth potential of the heat-not-burn category.

Oral SFP: Total oral SFP volumes turned positive, increasing by 0.5%, as growth in modern oral of 20.6% to 0.5 billion pouches more than offset declines in the legacy Nordic snus business. We continue to expand ZYN‘s footprint, with ZYN now available in 62 international markets and showing promising growth in geographies such as Global Travel Retail, Poland, and the Philippines, as well as sequential improvements in Sweden.

E-vapor SFP: We continue to drive outstanding growth in VEEV, with quarterly shipments up by 61.6%. VEEV further reinforced its leadership position in Europe, with strong growth across a range of markets, notably Romania, Greece, France and Spain. VEEV is also demonstrating promising results in markets outside of Europe, such as Indonesia, Global Travel Retail, Egypt, Malaysia and South Korea following the launch in August. PMI remains committed to building and commercializing the brand in a focused, responsible and profitable manner, leveraging its key role as part of our multicategory portfolio.

International Combustibles Segment

The combustibles segment delivered an exceptional quarter, with cigarette volume continuing to show strong resilience with broadly flat shipments. This was notably due to strong growth in markets such as Turkey, Indonesia and Egypt, which offset declines in other markets. Net revenues grew by 6.5% (7.8% organically), driven by another impressive quarter of 8.9% pricing, partly offset by geographic mix. This quarter also benefited from the favorable restructuring of distribution terms in certain markets, which is not expected to recur at the same level in future quarters. Gross profit grew by 8.6% (9.8% organically). Our cigarette category volume share stood at 25.9% (up by 0.4pp) despite adverse market mix. Marlboro continued to gain share (up by 0.5pp) reaching a record category share of 11.4%.

U.S. Segment

In the U.S., total ZYN shipments grew by 4.2% to 3.2 billion pouches, despite challenging comparisons against a special promotional campaign last year and supported by the ongoing launches of ZYN ULTRA, new flagship dry flavors, 1.5mg and 8mg flagship variants. These portfolio extensions enable ZYN to cover a broader range of consumer preferences and compete in the most dynamic growing segments of the category. Segment net revenues grew by 22.7% and gross profit by 24.2% (23.8% organically), driven by volume growth combined with favorable pricing comparisons due to prior year promotional activities. Operating companies income decreased by 3.3% (increased by 1.5% organically), including a significant increase in commercial investments to support the expansion of our ZYN portfolio, which increased its category share by over 100 basis points between June and September, as estimated by Nielsen.

As part of our previously announced plans to accelerate investments in the second half, and with distribution of the extended range of ZYN products continuing to progress, we plan to further increase investments to support the brand in the fourth quarter. This reflects a ramp-up in consumer communications, notably an expansion of the ‘When It Clicks‘ brand campaign, and the transition of the majority of the ZYN flagship portfolio to 20-pouch cans (from 15-pouch cans today), including associated transitional support programs. The change to 20-pouch cans is designed to align the value proposition across the portfolio and optimize ZYN’s price premium to support future growth in the dynamic U.S. nicotine pouch category.

On August 21, the FDA granted PMTA authorization to 11 variants of ZYN ULTRA, our higher-nicotine moist offering. ZYN now has PMTA authorization of 31 variants in total, more than any other nicotine brand on the market. This, combined with the MRTP authorization of 20 ZYN flagship variants on June 30, underlines the robustness of the science behind our products and their potential to reduce the harm caused by smoking.

Dividend: Increased regular quarterly dividend by 8.8% to $1.60 per share, or an annualized $6.40 per share.

Third-Quarter 2026 Performance Highlights


















Shipment Volume

(billion equivalent units)


PMI


International

Smoke-Free


International

Combustibles


U.S.


Q3


vs. PY


Q3


vs. PY


Q3


vs. PY


Q3


vs. PY

Total


206.2


0.60 %


44.5


2.70 %


158.0


— %


3.7


2.30 %

Cigarettes


158.0


— %






158.0


— %





SFP


48.2


2.70 %


44.5


2.70 %






3.7


2.30 %

HTU


41.5


1.50 %


41.5


1.50 %






–


(14.30) %

Oral SFP


5.3


1.80 %


1.6


0.50 %






3.7


2.30 %

E-Vapor


1.4


61.60 %


1.4


61.60 %









“-” indicates zero volumes or less than 50 million units





































PMI


International

Smoke-Free


International

Combustibles


U.S.

Net Revenues ($ bn)


$11.4


$3.9


$6.7


$0.8

reported vs. Q3 2025


5.50 %


0.70 %


6.50 %


22.70 %

organic vs. Q3 2025


7.10 %


3.40 %


7.80 %


22.70 %












Gross Profit ($ bn)


$7.9


$2.7


$4.6


$0.5

reported vs. Q3 2025


6.70 %


0.80 %


8.60 %


24.20 %

organic vs. Q3 2025


8.30 %


3.30 %


9.80 %


23.80 %
















OCI ($ bn)


$4.9


$4.9


$—

reported vs. Q3 2025


13.00 %


12.90 %


(3.30) %

organic vs. Q3 2025


10.50 %


10.80 %


1.50 %
















Operating Income ($ bn)


$4.9







reported vs. Q3 2025


14.10 %







organic vs. Q3 2025


10.50 %







Note: Sums might not foot to total due to rounding.





































2026


2025


Change

Reported Diluted EPS


$2.12


$2.23


(4.90) %

Amortization of intangibles


0.13


0.13





Fair value adjustment for equity security investments


0.06


(0.07)





Income tax impact associated with Swedish Match AB financing


0.01


–





Dutch pension plan buy-out loss


0.04


–





Germany excise tax classification litigation charge


–


0.1





RBH (Canada) Plan Implementation, including dividend income, net


–


(0.10)





Impairment of Wellness business related equity investment


–


0.09





Tax items


–


(0.14)



Adjusted Diluted EPS


$2.360


$2.24


5.40 %

Less: Currency


(0.01)





Adjusted Diluted EPS, excluding Currency


$2.37


$2.24


5.80 %




















































First Nine-Months 2026 Performance Highlights


















Shipment Volume (billion equivalent units)


PMI


International

Smoke-Free


International

Combustibles


U.S.


YTD


vs. PY


YTD


vs. PY


YTD


vs. PY


YTD


vs. PY

Total


595.6


0.50 %


133.3


7.40 %


452.2


(1.20) %


10.1


(5.80) %

Cigarettes


452.2


(1.20) %






452.2


(1.20) %





SFP


143.4


6.40 %


133.3


7.40 %






10.1


(5.80) %

HTU


124.5


6.70 %


124.5


6.70 %






–


+100 %

Oral SFP


14.9


(5.30) %


4.8


(4.00) %






10.0


(5.80) %

E-Vapor


4.0


68.10 %


4.0


68.10 %









“-” indicates zero volumes or less than 50 million units





































PMI


International

Smoke-Free


International

Combustibles


U.S.

Net Revenues ($ bn)


$32.8


$11.6


$18.9


$2.3

reported vs. YTD 2025


8.20 %


12.30 %


7.70 %


(5.20) %

organic vs. YTD 2025


5.90 %


9.90 %


5.20 %


(5.50) %










Gross Profit ($ bn)


$22.4


$8.1


$12.8


$1.5

reported vs. YTD 2025


9.40 %


14.30 %


9.90 %


(14.80) %

organic vs. YTD 2025


7.10 %


11.80 %


7.40 %


(14.60) %








OCI ($ bn)


$13.6


$13.7


$(0.1)

reported vs. YTD 2025


13.40 %


17.60 %


-(100) %

organic vs. YTD 2025


7.60 %


11.40 %


(41.10) %


















Operating Income ($ bn)


$13.3













reported vs. YTD 2025


15.40 %













organic vs. YTD 2025


7.70 %













Note: Sums might not foot to total due to rounding.





































2026


2025


Change

Reported Diluted EPS


$5.48


$5.89


(7.00) %

Amortization of intangibles


0.37


0.37



Fair value adjustment for equity security investments


0.22


(0.33)



Restructuring charges


0.02


0.13



Income tax impact associated with Swedish Match AB financing


0.07


(0.24)



Impairment related to the RBH equity investment


0.33


–



Egypt sales tax settlement adjustment


(0.01)


–



Dutch pension plan buy-out loss


0.04


–





Impairment of goodwill


–


0.03





Germany excise tax classification litigation charge


–


0.1





RBH (Canada) Plan Implementation, including dividend income, net


–


(0.10)





Impairment of Wellness business related equity investment


–


0.09





Tax items


–


(0.11)



Adjusted Diluted EPS


$6.52


$5.83


11.80 %

Less: Currency


0.2





Adjusted Diluted EPS, excluding Currency


$6.32


$5.83


8.40 %


















 

Impact of Geopolitical Conflicts

While the impact of the ongoing Middle East conflict on the group remains manageable, it has had an increasing effect on our business, with energy-related inflation driving incremental cost pressures in the third quarter. In our full-year forecast, we assume the observed rise in energy-related input prices to have a slightly higher impact in the fourth quarter, as a larger proportion of input price increases take effect. The long-term situation remains unpredictable, and it is difficult to assess the broader implications for consumers or the global cost environment.

In addition, the evolution of the situation in Ukraine has caused certain disruptions to our business this year, including the impact of strikes on our supply chain and logistics infrastructure in certain locations. We expect this disruption to have an impact on our operating income this year.

 2026 Full-Year Forecast




2026

Forecast


2025

Growth

Reported Diluted EPS


$7.11 – $7.26


$ 7.26


Adjustments






      Amortization of intangibles                                                                             


0.50


0.50


Fair value adjustment for equity security investments


0.22


(0.18)

      Restructuring charges                                                                                    


0.03


0.14

Income tax impact associated with Swedish Match AB financing


0.07


(0.25)

      Impairment related to the RBH equity investment                                           


0.33


—

Egypt sales tax settlement adjustment


(0.01)


—

      Dutch pension plan buy-out loss                                                                    


0.04


—

Other 2025 adjustments(1)


—


0.07

Total Adjustments


1.18


0.28

Adjusted Diluted EPS


$8.29 – $8.44


$ 7.54


9.9% – 11.9%

Less: Currency


0.18





Adjusted Diluted EPS, excluding currency


$8.11 – $8.26


$ 7.54


7.5% –  9.5%


(1)  Includes: $0.10 Germany excise tax classification litigation charge; ($0.10) RBH (Canada) Plan Implementation, including dividend income, net; $0.09

Impairment of Wellness business related equity investment; $0.06 Loss on expected sale of consumer accessories and other businesses; $0.03 Impairment of

goodwill; ($0.11) Tax items

Reported diluted EPS is forecast to be in a range of $7.11 to $7.26, at prevailing exchange rates. Excluding a total 2026 adjustment of $1.18 per share, this forecast represents a projected increase of 9.9% to 11.9% versus adjusted diluted EPS of $7.54 in 2025. This includes a favorable currency impact of $0.18, at prevailing exchange rates (previously $0.24). Excluding currency, this forecast represents a projected increase of 7.5% to 9.5% versus adjusted diluted EPS of $7.54 in 2025, as outlined in the above table.

2026 Full-Year Forecast Assumptions

  • Growing (previously broadly stable to slightly growing) total PMI cigarette and SFP shipment volume, with high single-digit SFP shipment growth, led by high single-digit SFP adjusted IMS growth, and a cigarette shipment volume decline at a similar level to the year-to-date trend (previously around 2% to 3%);
  • Net revenue growth of 5% to 7% on an organic basis; with a greater likelihood to be in the middle or upper-half of the range, supported by a fourth-quarter reacceleration in international smoke-free;
  • Organic operating income growth of 7% to 9%; with a greater likelihood to be in the middle or lower-half of the range, with a corresponding flow through to our EPS forecast range, given the cost impacts of ongoing geopolitical tensions and the previously communicated step-up in U.S. growth investments;
  • Full-year amortization of acquired intangibles of $0.50 per share;
  • Broadly stable net financing costs;
  • An effective tax rate, excluding discrete tax events, of around 21.5%;
  • Operating cash flow around $13.5 billion at prevailing exchange rates, subject to year-end working capital requirements;
  • Capital expenditures of $1.4 to $1.6 billion, predominantly supporting the smoke-free business;
  • Further net debt to adjusted EBITDA ratio improvement as we target a ratio of close to 2.0x by the end of 2026, at prevailing exchange rates; and
  • No share repurchases.

Factors described in the Forward-Looking and Cautionary Statements section of this release represent continuing risks to these projections.

Third-Quarter 2026 Operating Review










Net Revenues

(in millions)


PMI


International

Smoke-Free


International

Combustibles


U.S.

2025


$10,845


$3,839


$6,316


$689

Price


739


21


565


153

Volume/Mix/Other


36


108


(75)


4

Acquisitions & Divestitures


(27)


(27)


—


—

Currency


(155)


(74)


(81)


(1)

2026


$11,438


$3,867


$6,725


$845

vs. Q3 2025


5.50 %


0.7 %


6.5 %


22.7 %

Organic growth


7.10 %


3.4 %


7.8 %


22.7 %



















Gross Profit

(in millions)


PMI


International

Smoke-Free


International

Combustibles


U.S.

2025


$7,361


$2,683


$4,244


$434

Price


739


21


565


153

Volume/Mix/Other


(23)


87


(99)


(9)

Cost


(104)


(18)


(48)


(39)

Acquisitions & Divestitures


(7)


(7)


—


—

Currency


(112)


(60)


(52)


—

2026


$7,854


$2,705


$4,610


$539

vs. Q3 2025


6.70 %


0.80 %


8.60 %


24.20 %

Adjustments*


6


1


—


5

2026 Adjusted Gross Profit


$7,860


$2,705


$4,610


$544

vs. Q3 2025


6.70 %


0.80 %


8.60 %


23.90 %

Organic growth


8.30 %


3.30 %


9.80 %


23.80 %










2026 Adj. Gross Profit Margin


68.70 %


70.00 %


68.50 %


64.40 %

vs. Q3 2025


0.8pp


0.1pp


1.3pp


0.7pp

Organic growth


0.8pp


—pp


1.3pp


0.6pp

(*) For a list of adjusting items refer to the “Non-GAAP Measures, Glossary and Explanatory Notes” section of this release, in Exhibit

99.2 to the company’s Form 8-K dated October 21, 2026.

 

PMI (in millions)








Variance

Favorable / (Unfavorable)


2026


2025


Change


Total


Price


Volume /

Mix / Others


Cost


Acq. /

Divest.


Currency

Net Revenues


11,438


10,845


5.50 %


593


739


36


–


(27)


(155)

Cost of Sales (1)


(3,584)


(3,484)


(2.90) %


(100)


–


(59)


(104)


20


43

Gross Profit


7,854


7,361


6.70 %


493


739


(23)


(104)


(7)


(112)

Marketing, Administration and Research Costs (2)

(2,993)


(3,058)


2.10 %


65


–


–


40


4


21

Corporate Expenses & Other


5


(40)


+100 %


45


–


–


(7)


–


52

Operating Income


4,866


4,263


14.10 %


603


739


(23)


(71)


(3)


(39)

Adjustments*


(251)


(407)


38.30 %


156


–


–


156


–


–

Adj. Operating Income


5,117


4,670


9.60 %


447


739


(23)


(227)


(3)


(39)

Adj. OI Margin


44.70 %


43.10 %


1.6pp













(1) Includes $6 million in 2026 and $5 million in 2025 related to the adjusting items shown below Operating Income

(2) Includes $245 million in 2026 and $402 million in 2025 related to the adjusting items shown below Operating Income

(*) For a list of adjusting items refer to Exhibit 99.2 to the company’s Form 8-K dated October 21, 2026.

Note: Sums might not foot to total due to rounding.

 

Total PMI

  • Estimated industry volume (excluding China and the U.S.) for cigarettes and HTUs was broadly stable, decreasing by 0.1%.
  • Net revenues increased by 7.1% organically, mainly reflecting: a favorable pricing variance driven by international combustibles and the U.S. segment.
  • Operating income increased by 10.5% on an organic basis, largely reflecting the same factors as for net revenues.

International Smoke-Free Segment

  • Shipment volume grew by 2.7%, with broad-based growth across markets, notably Taiwan, Global Travel Retail, Greece, Germany, and Bulgaria, notwithstanding a challenging HTU comparison due to phasing of shipments between periods.
  • Net revenues increased by 3.4% on an organic basis, reflecting: a favorable volume/mix driven by higher HTU and e-vapor volumes and a favorable pricing variance due to HTUs.
  • Gross profit increased by 3.3% organically mainly due to the same factors as for net revenues.

International Combustibles Segment

  • Shipment volumes were broadly flat with notable increases in Turkey, Indonesia, and Egypt, offsetting declines in markets such as Russia, Poland and Japan.
  • Net revenues increased by 7.8% on an organic basis, reflecting: a favorable pricing variance, the restructuring of distribution terms in certain markets, and partially offset by unfavorable geographic mix.
  • Gross profit increased by 9.8% organically due to the same factors as for net revenues, slightly offset by higher costs due to increases in energy-related input prices.

U.S. Segment

  • Net revenues increased by 22.7%, primarily reflecting: growing ZYN shipments of 4.2%, and a favorable price variance against prior year promotions, supported by growth in the Wellness business and cigars.
  • Gross profit increased by 23.8% on an organic basis reflecting the same factors as for net revenues, partly offset by higher manufacturing costs linked to the expansion of our footprint.
  • Adjusted OCI increased by 1.5% organically, to $171 million, reflecting the same factors as for adjusted gross profit and the start of increased marketing investments to support the expanded ZYN portfolio.

First Nine-Months 2026 Operating Review – Net Revenues






(in millions)

PMI

International

Smoke-Free

International

Combustibles

U.S.

2025

$30,286

$10,310

$17,525

$2,451

   Price

1,889

195

1,607

88

   Volume/Mix/Other

(89)

823

(689)

(222)

   Acquisitions & Divestitures

(44)

(44)

—

—

   Currency

734

297

429

8

2026

$32,776

$11,580

$18,872

$2,324

   vs. YTD 2025

8.2 %

12.3 %

7.7 %

(5.2) %

   Organic growth

5.9 %

9.9 %

5.2 %

(5.5) %

 

Gross Profit

 
(in millions)


PMI


International

Smoke-Free


International

Combustibles


U.S.

2025


$20,497


$7,088


$11,679


$1,729

Price


1,889


195


1,607


88

Volume/Mix/Other


(261)


575


(621)


(214)

Cost


(179)


65


(116)


(128)

Acquisitions & Divestitures


(11)


(11)


—


—

Currency


483


194


290


(1)

2026


$22,418


$8,105


$12,839


$1,473

vs. YTD 2025


9.4 %


14.3 %


9.9 %


(14.8) %

Adjustments*


18


2


—


16

2026 Adjusted Gross Profit


$22,436


$8,107


$12,839


$1,489

vs. YTD 2025


9.4 %


14.3 %


9.9 %


(14.6) %

Organic growth


7.1 %


11.8 %


7.4 %


(14.6) %










2026 Adj. Gross Profit Margin


68.5 %


70.0 %


68.0 %


64.1 %

vs. YTD 2025


0.8pp


1.2pp


1.4pp


(7.1)pp

Organic growth


0.8pp


1.2pp


1.4pp


(6.9)pp


(*) For a list of adjusting items refer to the “Non-GAAP Measures, Glossary and Explanatory Notes” section of this release, in Exhibit

99.2 to the company’s Form 8-K dated October 21, 2026.

 

PMI (in millions)








Variance

Favorable / (Unfavorable)


2026


2025


Change


Total


Price


Volume /

Mix / Others


Cost


Acq. / Divest.


Currency

Net Revenues


32,776


30,286


8.20 %


2,490


1,889


(89)


–


(44)


734

Cost of Sales (1)


(10,358)


(9,789)


(5.80) %


(569)


–


(172)


(179)


33


(251)

Gross Profit


22,418


20,497


9.40 %


1,921


1,889


(261)


(179)


(11)


483

Marketing, Administration and Research Costs (2)


(8,831)


(8,474)


(4.20) %


(357)


–


–


(76)


6


(287)

Impairment of Goodwill


—


(41)


+100 %


41


–


–


41


–


–

Corporate Expenses & Other


(298)


(463)


35.60 %


165


–


–


(18)


–


183

Operating Income


13,289


11,519


15.40 %


1,770


1,889


-261


-232


-5


379

Adjustments*


(769)


(1,187)


35.20 %


418


–


–


418


–


–

Adj. Operating Income


14,058


12,706


10.60 %


1,352


1,889


(261)


(650)


(5)


379

Adj. OI Margin


42.90 %


42.00 %


0.9pp













(1) Includes $18 million in 2026 and $16 million in 2025 related to the adjusting items shown below Operating Income

(2) Includes $751 million in 2026 and $1,130 million in 2025 related to the adjusting items shown below Operating Income

(*) For a list of adjusting items refer to the “Non-GAAP Measures, Glossary and Explanatory Notes” section of this release, in Exhibit 99.2 to the company’s Form 8-K dated October 21, 2026




















Note: Sums might not foot to total due to rounding.

 

Total PMI

  • Estimated industry volume (excluding China and the U.S.) for cigarettes and HTUs declined by 0.4%.
  • Net revenues increased by 5.9% organically, mainly reflecting: a favorable pricing variance mainly driven by international combustibles; higher international smoke-free volumes; partly offset by unfavorable volume/mix, mainly driven by lower international combustibles and U.S. volumes in the first quarter.
  • Operating income increased by 7.7% on an organic basis, reflecting the same factors as for net revenues, partially offset by higher marketing, administration and research costs.

International Smoke-Free Segment

  • Shipment volume grew by 7.4%, notably due to Taiwan, Greece, Italy, and Global Travel Retail.
  • Net revenues increased by 9.9% on an organic basis, reflecting: a favorable volume/mix driven by higher HTU and e-vapor volumes and a favorable pricing variance due to higher HTU pricing.
  • Gross profit increased by 11.8% organically mainly due to the same factors as for net revenues, supported by favorable manufacturing efficiencies.

International Combustibles Segment

  • Shipment volume declined by 1.2% with notable decreases in Russia, Mexico, and Germany, partly offset by Turkey and Egypt.
  • Net revenues increased by 5.2% on an organic basis, reflecting: a favorable pricing variance and the previously mentioned restructuring of distribution terms in certain markets, partially offset by unfavorable volume/mix.
  • Gross profit increased by 7.4% organically due to the same factors as for net revenues, and slightly offset by increases in energy-related input prices.

U.S. Segment

  • Net revenues decreased by 5.5% organically, reflecting: unfavorable dynamics in the first quarter with ZYN volumes impacted by distributor and trade inventory movements, slightly offset by favorable price comparisons against higher promotional activities in the third quarter last year.
  • Gross profit decreased by 14.6% on an organic basis reflecting the same factors as for net revenues and higher manufacturing costs.
  • Adjusted OCI decreased by 41.1% organically, to $550 million, reflecting the same factors as for gross profit and increased investments in marketing, administration and research costs.

Conference Call

A conference call hosted by Massimo Andolina, Group Chief Financial Officer, will be webcast at 9:00 a.m., Eastern Time, on October 21, 2026. The webcast can be accessed here. Further market data will be provided in an appendix to the webcast presentation.

Philip Morris International: A Global Smoke-Free Champion

Philip Morris International is a leading international consumer goods company, actively delivering a smoke-free future and evolving its portfolio for the long term to include products outside of the tobacco and nicotine sector. The company’s current product portfolio primarily consists of cigarettes and smoke-free products, including heat-not-burn, nicotine pouch and e-vapor products. Our smoke-free products are available for sale in 110 markets as of September 30, 2026. As of December 31, 2025 PMI estimates they were used by over 43 million legal-age consumers around the world, many of whom have moved away from cigarettes or significantly reduced their consumption. The smoke-free business accounted for more than 40% of PMI’s third-quarter 2026 total net revenues. Since 2008, PMI has invested over $16 billion to develop, scientifically substantiate and commercialize innovative smoke-free products for legal-age adults who would otherwise smoke or use other nicotine-containing consumer products, with the goal of completely ending the sale of cigarettes. This includes the building of world-class scientific assessment capabilities, notably in the areas of pre-clinical systems toxicology, clinical and behavioral research, as well as post-market studies. Following a robust science-based review, the U.S. Food and Drug Administration has authorized the marketing of Swedish Match’s General snus and ZYN nicotine pouches and versions of PMI’s IQOS devices and consumables – the first-ever such authorizations in their respective categories. Versions of IQOS devices and consumables, General snus and 20 ZYN nicotine pouch variants also obtained the first-ever Modified Risk Tobacco Product authorizations from the FDA. With a strong foundation and significant expertise in life sciences, PMI has a long-term ambition to expand into wellness areas. References to “PMI”, “we”, “our” and “us” mean Philip Morris International Inc., and its subsidiaries. For more information, please visit www.pmi.com and www.pmiscience.com.

Forward-Looking and Cautionary Statements

This release contains projections of future results and goals and other forward-looking statements, including statements regarding expected financial or operational performance; capital allocation plans; investment strategies; regulatory outcomes; market expectations; business plans and strategies. Achievement of future results is subject to risks, uncertainties and inaccurate assumptions. In the event that risks or uncertainties materialize, or underlying assumptions prove inaccurate, actual results could vary materially from those contained in such forward-looking statements. Pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, PMI is identifying important factors that, individually or in the aggregate, could cause actual results and outcomes to differ materially from those contained in any forward-looking statements made by PMI.

PMI’s business risks include: marketing and regulatory restrictions that could reduce our competitiveness, disrupt our SFP commercialization efforts, eliminate our ability to communicate with adult consumers, or ban certain of our products in certain markets or countries; excise tax increases and discriminatory tax structures; health concerns relating to the use of tobacco and other nicotine-containing products; litigation related to tobacco and/ or nicotine products and intellectual property rights; intense competition; inability to anticipate changes in adult consumer preferences; use and reliance on third-parties; the adverse effects of global and individual country economic, regulatory and political developments, natural disasters and conflicts; geopolitical instability; the impact and consequences of Russia’s invasion of Ukraine; changes in legal-age adult smoker behavior; continued decline of tax-paid cigarettes; lost revenues as a result of counterfeiting, contraband and cross-border purchases; governmental investigations; unfavorable currency exchange rates and currency devaluations, sustained periods of elevated inflation, and limitations on the ability to repatriate funds; adverse changes in applicable corporate tax laws; disruptions in the credit markets or changes to its credit ratings; recent and potential future tariffs imposed by the U.S. and other countries; adverse changes in the cost, availability, and quality of tobacco and other agricultural products and raw materials, as well as product components for its electronic devices; and the integrity of its information systems and effectiveness of its data privacy policies. PMI’s future profitability may also be adversely affected should it be unsuccessful, in key markets or systemically, in its efforts to introduce, commercialize, and grow smoke-free products or if regulation or taxation do not differentiate between such products and cigarettes; if it is unable to successfully introduce new products, and promote brand equity; if there are prolonged disruptions of facilities used to produce its products; if it is unable to enter new markets or improve its margins through increased prices and productivity gains; if other market participants are more successful in their SFP commercialization efforts; if it is unable to attract and retain the best global talent; or if it is unable to successfully integrate and realize the expected benefits from recent transactions and acquisitions. Future results are also subject to the lower predictability of our smoke-free products performance.

PMI is further subject to other risks detailed from time to time in its publicly filed documents, including PMI’s Annual Report on Form 10-K for the fourth quarter and year ended December 31, 2025, and the Quarterly Report on Form 10-Q for the third quarter ended September 30, 2026, which will be filed in the coming days. PMI cautions that the foregoing list of important factors is not a complete discussion of all potential risks and uncertainties. PMI does not undertake to update any forward-looking statement that it may make from time to time, except in the normal course of its public disclosure obligations.

Non-GAAP Measures, Glossary and Explanatory Notes

Reconciliations of non-GAAP measures in this release to the most directly comparable U.S. GAAP measures can be found in Exhibit 99.2 to the Form 8-K dated October 21, 2026, and here. A glossary of key terms, definitions and explanatory notes is available in the aforementioned Exhibit 99.2 and on the same webpage, where additional financial schedules, as well as adjustments and other calculations have also been made available.

Management reviews net revenues, gross profit, operating companies income, operating income, operating cash flow and earnings per share, or “EPS,” on an adjusted basis, which may exclude the impact of currency and other items such as acquisitions, divestitures, restructuring costs, tax items and other adjusting items. Additionally, starting in 2022 and on a comparative basis, for these measures other than net revenues and operating cash flow, PMI includes adjustments to add back amortization expense on acquisition related intangible assets that are recorded as part of purchase accounting and contribute to PMI’s revenue generation, as well as impairment of intangible assets, if any. While amortization expense on acquisition related intangible assets is excluded in these adjusted measures, the net revenues generated from these acquired intangible assets are included in the company’s adjusted measures, unless otherwise stated. Currency-neutral and organic growth rates reflect the way management views underlying performance for these measures. PMI believes that such measures provide useful insight into underlying business trends and results. Management reviews these measures because they exclude changes in currency exchange rates and other factors that may distort underlying business trends, thereby improving the comparability of PMI’s business performance between reporting periods. Furthermore, PMI uses several of these measures in its management compensation program to promote internal fairness and a disciplined assessment of performance against company targets. PMI discloses these measures to enable investors to view the business through the eyes of management.

Non-GAAP measures used in this release should neither be considered in isolation nor as a substitute for the financial measures prepared in accordance with U.S. GAAP.

 

 

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24, Oct 2026
India Deepens Nuclear Science Cooperation With Global South as ‘Vishwa Bandhu’: Sangeeta Kumari Singh Deo at UN

United Nations, Oct 24: India is strengthening international cooperation in nuclear science and technology to help developing nations access its benefits, with the country’s role as a “Vishwa Bandhu” or friend to the world reflecting its commitment to South-South cooperation, BJP MP Sangeeta Kumari Singh Deo has said.

India Deepens Nuclear Science Cooperation With Global South as ‘Vishwa Bandhu’: Sangeeta Kumari Singh Deo at UN

Addressed the 81st session of the UN General Assembly on the Report of the International Atomic Energy Agency (IAEA), reaffirming 🇮🇳’s commitment to the peaceful use of nuclear science, sustainable development, South-South cooperation, and strong nuclear safety and security frameworks. #SangeetaKumariSinghDeo #IndiaAtUN #UNGA81 #IndiaUNPartnership #UnitedNations

— Sangeeta Kumari Singh Deo (@sksingh_deo) October 24, 2026

Leading an Indian parliamentary delegation to the United Nations, Singh Deo highlighted India’s development partnerships and its efforts to share scientific expertise with countries across the Global South while addressing the India-UN Fund Annual Event 2026 at the UN General Assembly.

She said India’s global development cooperation remained a key pillar of its foreign policy, with an emphasis on mutual respect, shared benefits and support for the priorities identified by partner countries.

India’s RCA Chairmanship to Strengthen Scientific Partnerships

Singh Deo highlighted India’s association with the International Atomic Energy Agency (IAEA), particularly through the Regional Cooperative Agreement for Research, Development and Training Related to Nuclear Science and Technology (RCA).

India assumed the chairmanship of the 22-member RCA in May 2026, reaffirming its commitment to expanding scientific collaboration and strengthening partnerships among member countries.

“India’s chairmanship of RCA is a reaffirmation of our strong commitment to South-South cooperation and to ensuring that the benefits of nuclear science reach every nation that seeks them,” she said.

Addressing representatives from regions including the Pacific, Southeast Asia, Europe, Africa and Latin America, Singh Deo emphasised that India’s approach to development cooperation was demand-driven and consultative.

She said partner countries were encouraged to determine their own priorities, with cooperation guided by mutual respect, mutual benefit and respect for national sovereignty.

India-UN Fund Supports Development Across the Global South

Singh Deo also underscored the role of the India-UN Development Partnership Fund, established in 2017 with an initial Indian commitment of $150 million.

The fund supports development initiatives across the Global South through concessional financing, infrastructure assistance, humanitarian support and capacity-building programmes.

India’s engagement through such initiatives, she said, reflects its broader effort to make development partnerships more inclusive and responsive to the needs of participating countries.

The approach seeks to combine India’s technical capabilities and development experience with the priorities of partner nations.

Cancer Care Training Highlights Neighbourhood-First Policy

As an example of India’s regional cooperation, Singh Deo referred to a specialised cancer-care training programme conducted by Mumbai’s Tata Memorial Centre (TMC) under the BIMSTEC cooperation framework.

The programme provided training opportunities for healthcare professionals from Bangladesh, Bhutan, Nepal and Myanmar, she said.

Tata Memorial Centre operates under the Department of Atomic Energy, and the initiative demonstrates how India’s scientific and institutional expertise can support capacity-building in neighbouring countries.

The programme also highlights the potential for cooperation in healthcare, where knowledge-sharing and professional training can help strengthen medical capabilities across the region.

Indigenous Nuclear Technology Marks Major Milestones

Singh Deo pointed to India’s domestic nuclear technology capabilities as another area of significant progress.

She referred to the achievement in April 2026 of criticality at the indigenous 500-megawatt Prototype Fast Breeder Reactor at Kalpakkam, Tamil Nadu. Criticality marks the point at which a nuclear reactor sustains a controlled chain reaction.

She also highlighted a reported milestone in June, when the reactor demonstrated heat-based hydrogen production, describing it as a first-of-its-kind achievement globally.

These developments, she said, reflect India’s advances in nuclear research and its efforts to expand the applications of nuclear technology.

Nuclear Power Generation and Safety Record Highlighted

Singh Deo also cited the performance of Nuclear Power Corporation of India Limited (NPCIL), which generated 55,190 million units of electricity during the previous year, according to the figures she presented.

The company recorded an overall plant load factor of 80 per cent, she said, while highlighting India’s stated emphasis on operational safety.

Nuclear power and research applications, she added, form an important part of India’s technological progress and its wider engagement with international partners.

Expanding Access to Nuclear Science

India’s message at the UN centred on the idea that scientific progress should contribute to wider development rather than remain concentrated among a limited number of countries.

Through its RCA chairmanship, development partnership programmes and regional training initiatives, India is seeking to expand opportunities for countries to benefit from nuclear science and technology.

Singh Deo’s remarks underscored the country’s ambition to combine its growing technological capabilities with international cooperation, positioning scientific collaboration as an important element of its engagement with the Global South.

24, Oct 2026
Submer to Address the Infrastructure Challenges Behind Sovereign AI at DCD Connect | MENA 2026

Dubai, United Arab Emirates, Oct 24:  Submer, a full-stack AI and HPC data centre infrastructure provider, will join industry leaders at DCD Connect | MENA 2026, taking place October 26–27 at Grand Hyatt Dubai, to discuss the infrastructure strategies needed to advance sovereign AI across the region.

As governments and organisations across the Middle East accelerate their sovereign AI and cloud strategies, the challenge extends beyond keeping data within national borders. They must also build the high-performance computing infrastructure needed to support increasingly complex AI workloads while meeting regulatory requirements, scaling efficiently and maintaining commercial viability.

Submer will contribute to this discussion through its participation in the panel debate “Building Sovereign AI: Enabling Innovation Through Scalable Compute,” on October 26, from 2:30 p.m. to 3:15 p.m. The session will explore the infrastructure requirements of sovereign cloud environments, the trade-offs between fully localised and hybrid infrastructure models, and how the region can develop a sovereign-ready compute backbone without compromising flexibility, performance or return on investment.

Bahaa Al Janabi, Technical and Solution Lead for Middle East, Turkey and Africa at Submer, will join fellow industry experts to examine how infrastructure decisions can shape the region’s ability to turn its AI ambitions into scalable, commercially viable deployments.

Submer to Address the Infrastructure Challenges Behind Sovereign AI at DCD Connect | MENA 2026

 

“Sovereign AI is not simply about where data resides. It is about having the infrastructure to run advanced AI workloads at scale while meeting national requirements and making the economics work. The choices organisations make today will shape their ability to innovate, scale and compete. We look forward to discussing how the right infrastructure strategies can help turn the region’s sovereign AI ambitions into reality,” said Bahaa Al Janabi.

Submer representatives will also be available throughout the event to meet with customers, partners and industry stakeholders and discuss the evolving AI infrastructure landscape across the Middle East, Africa and Turkey.

24, Oct 2026
Railways Step Up Security Plans to Ensure Safe Diwali and Chhath Travel

New Delhi, Oct 24: The government is strengthening railway security and crowd-management measures ahead of Diwali, Chhath Puja and other major festivals, with a focus on ensuring safe passenger movement at busy stations and along crowded train routes.

Railways Step Up Security Plans to Ensure Safe Diwali and Chhath Travel

 Representational Image 

The issue was discussed at the 8th All India Conference of Government Railway Police (GRP) Chiefs, convened by the Railway Protection Force (RPF). The meeting brought together railway security officials and representatives from states and Union Territories to review emerging challenges, share best practices and improve coordination among the RPF, GRP and state police forces.

According to the Ministry of Railways, discussions focused on advance planning, surveillance, passenger-flow management and the coordinated deployment of security personnel during peak travel periods.

Coordinated Crowd Management at Busy Stations

Northern Railway’s Delhi Division presented its arrangements for managing festival crowds through coordination with Delhi Police, GRP and Delhi Metro authorities.

The measures include CCTV surveillance, public announcement systems, barricading, designated holding areas and dedicated control rooms to monitor passenger movement and respond to emerging situations.

Officials stressed that advance preparation and effective coordination are essential to prevent congestion and maintain orderly movement at stations during periods of heavy passenger traffic.

RailMadad Platform to Strengthen Passenger Grievance Redressal

A key development discussed at the conference was the onboarding of GRP personnel onto the RailMadad platform by the Centre for Railway Information Systems (CRIS).

The integration is intended to improve the handling of passenger complaints, facilitate timely information sharing and strengthen complaint monitoring. It is expected to help railway security personnel respond more efficiently to passenger concerns.

The conference was presided over by RPF Director General Sonali Mishra and attended by Railway Board Chairman and CEO Satish Kumar, Railway Board members and GRP chiefs from across the country.

Women-Led Security Model Showcased

South Central Railway’s initiative, “Pink Patrol: Eyes in the Sky, SHAKTI on the Ground,” was highlighted as an example of technology-supported railway security.

The model combines drone-assisted surveillance with rapid-response teams operating under the SHAKTI framework. The initiative demonstrates how aerial monitoring and ground-level intervention can work together to strengthen security.

Such approaches are aimed at improving surveillance and enabling quicker responses to incidents, particularly in areas requiring closer monitoring.

Stone-Pelting on Trains Remains a Major Concern

Stone-pelting on trains was another key issue discussed at the meeting. Officials emphasised hotspot-based patrolling, improved surveillance, strict action against offenders and stronger coordination between the RPF and GRP.

The conference also underlined the importance of community awareness and preventive engagement, particularly among young people, to discourage dangerous behaviour that can injure passengers and railway staff.

Project DISHA Focuses on Railway Safety Awareness

Central Railway’s Pune Division presented Project DISHA, or Dedicated Initiative for Safety, Harmony and Awareness, which seeks to engage children living near railway tracks through educational and recreational activities.

The initiative includes safety-awareness sessions and community-based interventions designed to discourage stone-pelting, theft, trespassing and other unsafe activities around railway infrastructure.

Partnerships with non-governmental organisations, National Service Scheme (NSS) volunteers and local communities are central to the programme. The approach aims to promote responsible behaviour and build awareness of the dangers associated with railway tracks.

Focus on Safer Festival Journeys

With Diwali and Chhath expected to bring heavy passenger traffic, railway authorities are prioritising security planning, surveillance and coordination among agencies responsible for passenger safety.

The conference provided a platform to review existing practices and identify ways to respond more effectively to crowd-related risks and other security challenges.

The overall objective is to ensure that passengers can travel safely during the festive rush through better preparation, faster grievance redressal, stronger field-level coordination and greater public awareness.

24, Oct 2026
Puri Jagannath Temple May Revise Mahaprasad Prices as Ingredient Costs Rise

Puri, Oct 24: The price of Abadha Mahaprasad, the sacred offering served at the Shree Jagannath Temple in Puri, may increase amid rising costs of essential ingredients, including rice, pulses, vegetables and ghee.

Puri Jagannath Temple May Revise Mahaprasad Prices as Ingredient Costs Rise

 Representational Image 

The Shree Jagannath Temple Administration (SJTA) has held discussions with the Suara Mahasuara Nijog, the body representing servitors involved in preparing the temple’s Mahaprasad, over a possible revision of prices.

However, SJTA Chief Administrator Arabinda Padhee has indicated that the administration will seek to keep Mahaprasad affordable for devotees, particularly as Puri prepares for a surge in pilgrims during the holy Kartika month.

Rising Ingredient Costs Put Pressure on Temple Kitchen

The rising prices of essential food items have reportedly increased the cost of preparing Mahaprasad in the temple kitchen, where offerings are prepared daily according to established rituals.

Representatives of the Suara Mahasuara Nijog have expressed concern over the growing financial burden on those involved in the preparation. Apart from increases in the prices of rice, pulses and vegetables, Omfed ghee has reportedly become more expensive following three price hikes in recent months.

The rising input costs have prompted discussions about whether the current prices of Mahaprasad need to be revised to account for the additional expenditure.

No final price revision was confirmed in the information available at the time of reporting.

Administration Seeks to Keep Mahaprasad Affordable

Padhee said the temple administration had consulted the Suara Mahasuara Nijog and was maintaining communication with the organisation to address the issue.

He emphasised that devotees should continue to have access to the sacred offering at affordable prices, adding that the administration was seeking cooperation from the concerned stakeholders.

Mahaprasad holds deep religious significance for devotees visiting the Shree Jagannath Temple. For many pilgrims, partaking in the offering is an essential part of their visit, making any potential price increase a matter of public interest.

The administration is therefore expected to weigh the increased cost of ingredients against the need to ensure that devotees can obtain Mahaprasad without undue financial difficulty.

Kartika Month Adds Urgency to the Issue

The possible revision comes just ahead of Kartika month, a particularly important period in Puri’s religious calendar. Large numbers of devotees, including Habishyalis—women who observe specific religious practices during the month—are expected to visit or stay in the pilgrimage town.

The anticipated increase in the number of pilgrims is likely to place additional attention on the availability and affordability of Mahaprasad.

For devotees observing religious vows, access to the sacred offering is an important part of their spiritual practice. Temple authorities are consequently seeking a balance between managing higher preparation costs and meeting pilgrims’ expectations.

Final Decision Yet to Be Announced

While discussions between the SJTA and the Suara Mahasuara Nijog have taken place, the exact extent and timing of any price increase remain unclear.

The final decision will be closely watched by devotees, particularly those planning visits to Puri during Kartika month.

For now, the temple administration has stressed its intention to keep Mahaprasad accessible, even as rising ingredient prices put pressure on the traditional preparation process.

24, Oct 2026
Odisha Secures INR 53,893 Crore Investment Proposals at India Chem 2026, Targets Over 20,000 Jobs

Bhubaneswar, Oct 24: Odisha has attracted investment proposals worth ₹53,893.51 crore, with the potential to create 20,210 jobs, at India Chem 2026 in Mumbai, strengthening the state’s push to expand its chemical and petrochemical industries.

Odisha Secures INR 53,893 Crore Investment Proposals at India Chem 2026, Targets Over 20,000 Jobs

 Pic Credit: x.com/PTI_News

Chief Minister Mohan Charan Majhi returned to Bhubaneswar on Friday after attending the two-day event held on October 22 and 23. During the conclave, the state signed nine Memorandums of Understanding (MoUs) and secured four investment intents, while the Chief Minister held 25 one-to-one meetings with business leaders and prospective investors.

The discussions involved representatives of major companies, including POSCO India, JSW and Larsen & Toubro (L&T), along with business representatives from the United States and Europe.

NLC India Deal Accounts for Major Investment

One of the key outcomes of the event was an MoU with NLC India Ltd worth ₹36,763.51 crore in the chemicals and energy sectors.

The proposed investment represents a significant part of the total investment proposals announced at the conclave. The projects are expected to support industrial expansion and create employment opportunities, subject to their implementation.

Majhi said the meetings provided an opportunity for potential investors to understand Odisha’s industrial infrastructure and available facilities. They also helped the state gain a clearer understanding of investors’ requirements and expectations.

The Chief Minister thanked Union Minister for Chemicals and Fertilisers J.P. Nadda for supporting efforts to facilitate discussions with companies.

Odisha Chem 2027 to Be Hosted in October

In another major announcement, Majhi said Odisha Chem 2027 would be held in October next year, following approval from the Centre and the Federation of Indian Chambers of Commerce and Industry (FICCI) for the state’s proposal to host the event.

The proposed event is expected to provide another platform for Odisha to showcase its industrial potential, attract investors and strengthen partnerships across the chemical and petrochemical sectors.

The state government is seeking to broaden Odisha’s industrial base beyond its traditional strength in metals and mining by developing a more diversified, value-added manufacturing ecosystem.

Push to Build an Integrated Industrial Ecosystem

Odisha’s long-term industrial strategy aims to connect its established metals sector with downstream manufacturing, chemicals, petrochemicals and plastics.

The government believes that developing these interconnected industries could encourage greater value addition within the state, attract new investment and expand employment opportunities.

The shift towards a chemical-based industrial economy is also intended to strengthen Odisha’s contribution to the national vision of Atmanirbhar Bharat, or a self-reliant India.

Hosting Odisha Chem 2027 is expected to support this strategy by bringing industry stakeholders and prospective investors together to explore opportunities in the state.

Chief Minister Welcomed Back in Bhubaneswar

Majhi was welcomed at Bhubaneswar airport after returning from Mumbai. Those present included Fisheries and Animal Resources Development Minister Gokulananda Mallik, Cooperation, Handlooms and Textiles Minister Pradeep Bal Samanta, Chief Whip Saroj Pradhan and several MLAs.

The investment proposals announced at India Chem 2026 mark a significant opportunity for Odisha to attract fresh capital and expand its industrial footprint. The ultimate impact on employment and economic growth, however, will depend on how the proposed investments progress towards implementation.

24, Oct 2026
Bhubaneswar Hosts 19th Urban Mobility India Conference With Focus on Digital, Inclusive Cities

Oct 24: Bhubaneswar is hosting the 19th Urban Mobility India (UMI) Conference and Expo on October 23–24, 2026, bringing together policymakers, urban planners, industry leaders and mobility experts to discuss how technology can make Indian cities more accessible and liveable. The event is being held at Hotel Mayfair Sanctuary under the theme “Urban Accessibility and Liveability in Digital Age.

Bhubaneswar Hosts 19th Urban Mobility India Conference With Focus on Digital, Inclusive Cities

Odisha warmly welcomes delegates, urban planners, policymakers, industry leaders and experts to the 19th Urban Mobility India Conference & Expo, being held in Bhubaneswar on 23–24 October 2026. Under the vision of Samruddha Sahar, Viksit Odisha, the State is advancing urban transformation through integrated planning, modern infrastructure, accessible public transport, affordable housing, digital governance and sustainable urban services. From strengthening urban mobility and ensuring reliable water supply to promoting clean, green and citizen-centric cities, Odisha continues to focus on building future-ready urban centres. May this conference foster meaningful collaboration, exchange of knowledge and innovative solutions for sustainable and inclusive urban development. #UMI2026 #OdishaOnTheMove

— CMO Odisha (@CMO_Odisha) October 23, 2026

What the conference will address

Organised by the Union Ministry of Housing and Urban Affairs through the Institute of Urban Transport (India), with support from the Odisha government, the two-day conference will examine integrated transport infrastructure, digital mobility solutions, and ways to improve everyday urban life.

Discussions are expected to cover sustainable public transport, multimodal integration, first- and last-mile connectivity, traffic congestion, vehicle-emission reduction, and inclusive mobility for women, children, elderly people and persons with disabilities.

Odisha’s urban agenda

The Odisha government has framed the event as part of its “Samruddha Sahar, Viksit Odisha” vision, which emphasises integrated planning, modern infrastructure, accessible public transport, affordable housing, digital governance and sustainable civic services.

The state says its priorities include strengthening urban mobility, ensuring reliable water supply, and developing clean, green and citizen-centric cities. Hosting the national conference is intended to showcase Bhubaneswar’s urban-development initiatives and attract collaboration on future-ready city solutions.

Exhibition and follow-up event

Alongside the conference, an exhibition is showcasing technologies, services and projects related to urban transport and smart-city development. The UMI event will be followed by the second National Urban Conclave on October 24–25 at the same venue.

Officials said the conference aims to move beyond infrastructure alone, measuring urban progress by how safely, affordably and inclusively residents can move through and access their cities.

24, Oct 2026
India Eyes USD 220 Billion Clean Energy Investment by FY2030 as Renewable Sector Accelerates

New Delhi, Oct 24: India is poised to unlock an estimated $220 billion in clean energy investment opportunities between FY2027 and FY2030, as the country accelerates its transition towards renewable power and advances its ambitious target of 500 GW of non-fossil fuel capacity.

India Eyes USD 220 Billion Clean Energy Investment by FY2030 as Renewable Sector Accelerates

 Representational Image 

According to the Ministry of New and Renewable Energy (MNRE), the investment opportunity spans the entire clean energy value chain, including solar and wind power, energy storage, domestic manufacturing, electricity transmission, green hydrogen and hydropower. The scale of the opportunity is expected to create significant avenues for private investment, technological innovation and industrial growth.

Private Sector to Drive Clean Energy Expansion

The private sector is emerging as a key driver of India’s energy transition, accounting for nearly 74 per cent of the country’s renewable energy capacity, according to the ministry.

J.V.N. Subramanyam, Joint Secretary at MNRE, emphasised that private investment would remain central to achieving India’s clean energy ambitions, with the government focusing on providing a stable policy framework and an investor-friendly environment.

He described the projected $220 billion opportunity not as a financial constraint but as an indication of the enormous potential for growth across India’s clean energy industry.

The government believes that sustained private capital, supported by predictable policies and reliable project revenues, will be essential to expand renewable energy infrastructure at the required pace.

Policy Support to Strengthen Investor Confidence

Several policy measures are intended to improve the attractiveness of India’s renewable energy sector for domestic and international investors.

These include allowing 100 per cent foreign direct investment (FDI) under the automatic route, introducing payment security mechanisms and maintaining policy support for clean energy development.

The reduction in Goods and Services Tax (GST) on renewable energy equipment from 12 per cent to 5 per cent is also expected to help lower project costs.

In addition, a 500 MW Contract for Difference pilot implemented through the Solar Energy Corporation of India (SECI) aims to strengthen project bankability and provide greater revenue certainty.

Such measures are particularly important for capital-intensive projects that require substantial upfront investment and long-term financial commitments.

Investment Opportunities Across the Energy Value Chain

The projected investment is expected to extend beyond the installation of solar panels and wind turbines. Energy storage, transmission infrastructure and domestic equipment manufacturing will also play critical roles in supporting the expansion of renewable electricity.

Green hydrogen and hydropower are additional areas expected to contribute to India’s broader clean energy strategy.

Expanding transmission networks and storage capacity will be particularly important to integrate variable renewable power into the electricity grid while maintaining reliability as demand grows.

The investment opportunity could also support domestic manufacturing, create new business partnerships and strengthen India’s position in emerging clean energy technologies.

Bharat Renewable Energy Summit to Attract Global Stakeholders

India will host the Bharat Renewable Energy (BRE) Summit and Expo 2026 from November 2 to 5 at Bharat Mandapam in New Delhi.

The event is expected to bring together more than 400 exhibitors and delegates from over 75 countries. It will also incorporate the ninth session of the International Solar Alliance Assembly and the fourth International Conference on Green Hydrogen.

The summit aims to facilitate investment commitments, showcase state-level renewable energy project pipelines, encourage business-to-business partnerships and promote international technology collaboration.

It is expected to provide a platform for policymakers, investors, manufacturers and energy companies to explore opportunities arising from India’s expanding clean energy market.

From 500 GW to Net Zero by 2070

India’s target of achieving 500 GW of non-fossil fuel capacity represents a major milestone in its long-term energy transition. The country has already crossed the halfway mark in terms of the share of non-fossil sources in its total installed power capacity, which now exceeds 54 per cent, according to MNRE.

Looking further ahead, the government has outlined an ambition to reach 1,800 GW of non-fossil fuel capacity by 2047, aligning with its broader vision of Viksit Bharat, or a developed India.

The country has also committed to achieving net-zero emissions by 2070.

However, meeting these goals will require substantial financial resources, faster infrastructure development, technological advancement and stronger coordination between government agencies and private industry.

Subramanyam stressed that public funding alone would not be sufficient to finance the 500 GW target. Creating a commercially viable investment environment that attracts private capital at scale will therefore remain a central priority.

A Defining Opportunity for India’s Green Economy

The estimated $220 billion investment pipeline highlights the growing economic significance of India’s clean energy transition. Beyond expanding renewable electricity generation, the opportunity could strengthen domestic manufacturing, encourage innovation, attract foreign investment and generate employment across multiple sectors.

The challenge will be to convert the projected investment potential into financially viable projects, reliable infrastructure and measurable progress towards decarbonisation.