Kartika Month Begins in Puri: Special Facilities for 2,400 Habishyalis, 15 Police Platoons to Be Deployed

Puri, Oct 26: The holy month of Kartika began on Monday, drawing large numbers of devotees to the Shree Jagannath Temple in Puri to seek the blessings of Lord Jagannath, who is being worshipped in his Radha Damodar Besha during the sacred period. The first day also coincided with Kartika Somabar, adding to the religious significance of the occasion.

 Representational Image 

Hundreds of women, popularly known as Habishyalis, have arrived in the pilgrim town to observe the month-long Habisha Brata. To support their religious observances, the Puri district administration has made arrangements for accommodation, meals, security and temple darshan.

Around 2,400 Habishyalis are expected to receive facilities at designated camps during the month-long observance, which will continue until November 24.

Special Arrangements for Habishyalis

The district administration has put in place several measures to make the stay of Habishyalis more comfortable and ensure their safety. Separate accommodation facilities and meal arrangements have been organised, while a dedicated queue has been arranged at the Jagannath Temple to facilitate darshan.

Barricades have also been installed around sacred ponds to regulate bathing and minimise the risk of accidents. Officials and volunteers have been asked to assist the women staying at the camps and ensure that necessary support is available throughout their pilgrimage.

Puri Collector Dibya Jyoti Parida has urged volunteers to consider serving the Habishyalis a sacred responsibility and extend their full cooperation during the Kartika month.

Security Tightened Across the Pilgrim Town

With a significant increase in the number of devotees expected, the police administration has strengthened security arrangements in Puri. According to the report, 15 platoons of police personnel will be deployed to manage crowds and maintain law and order.

Authorities are also focusing on crowd regulation at the temple and safety arrangements at bathing locations. These measures are intended to help devotees complete their religious observances while reducing congestion and preventing untoward incidents.

Elderly Devotees Seek Smoother Darshan

Despite the arrangements, the heavy rush at the Srimandir has reportedly made darshan challenging for some devotees, particularly elderly women observing Habisha Brata.

An 81-year-old Habishyali expressed concern about entering the crowded temple premises and appealed to the administration to make additional provisions for senior citizens and women observing the month-long ritual.

At the same time, other devotees expressed happiness at being able to offer prayers on the opening day of Kartika. One Habishyali said she felt blessed to have darshan of the sibling deities and reaffirmed her commitment to following the traditional rituals throughout the month.

Devotion Marks the Beginning of Kartika

Kartika holds special religious significance for devotees, many of whom observe fasting, prayers and other spiritual practices during the month. The Radha Damodar Besha of Lord Jagannath is among the major attractions at the Srimandir during this period, drawing devotees from different parts of Odisha and beyond.

With the month-long observance now underway, the district administration faces the task of balancing the large influx of pilgrims with the need for safe movement, orderly darshan and adequate facilities for Habishyalis.

The arrangements are expected to remain central to crowd management and pilgrim welfare in Puri until the conclusion of Habisha Brata on November 24.

Cyclone Arnab’s Changing Track Raises Odisha Concerns; 8 NDRF Teams Deployed

Bhubaneswar, Oct 26: Uncertainty over the projected movement of Cyclone Arnab has heightened concerns in Odisha, with five districts expected to face the impact of heavy rainfall and strong winds as the weather system approaches the eastern coast. The cyclone is forecast to make landfall along the Andhra Pradesh coast on October 28, but authorities remain alert to possible changes in its trajectory.

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According to reports based on meteorological updates, the system may move towards the Andhra Pradesh coast before potentially changing direction and affecting parts of Odisha. The evolving forecast has prompted the state government to intensify preparations, particularly in southern districts considered vulnerable to severe weather.

The deep depression over the Bay of Bengal is expected to intensify into a cyclonic storm on Monday, October 26. Rainfall and strong winds are likely to affect parts of Odisha from October 27, with conditions potentially worsening as the system approaches land.

Eight NDRF Teams Mobilised Across Odisha

As part of the preparedness measures, eight teams of the National Disaster Response Force (NDRF) have been deployed across vulnerable areas to respond to emergencies.

The teams have been positioned in six districts: Koraput, Malkangiri, Rayagada, Gajapati, Jagatsinghpur and Puri. Ganjam has been assigned two teams to strengthen the response capacity in an area facing potential weather-related risks.

The deployment is intended to ensure that rescue personnel can respond promptly to emergencies, including flooding, damage caused by strong winds and the need to evacuate people from vulnerable locations.

Authorities are keeping a close watch on southern Odisha, where at least five districts are expected to face significant weather impacts. Wind speeds associated with the approaching system could reach up to 140 kmph, according to the supplied report.

Suresh Pujari Reviews Preparedness Measures

Odisha Revenue and Disaster Management Minister Suresh Pujari said the system was expected to make landfall near Visakhapatnam on October 28 before moving south-westwards, potentially affecting Andhra Pradesh and Odisha with heavy rainfall and strong winds.

The minister said senior officers and state ministers had been assigned to vulnerable districts to supervise preparedness and coordinate response measures.

Arrangements have also been made for relief centres, cooked food, medicines and healthcare services to support people who may need assistance during the emergency.

Pujari urged residents not to panic and advised them to follow instructions issued by the Special Relief Commissioner (SRC). He also stressed the importance of protecting vulnerable family members and shifting to designated relief centres whenever authorities advise evacuation.

The government’s stated objective is to manage the situation while preventing loss of life.

Changing Forecast Keeps Authorities on Alert

The possibility of a change in the cyclone’s path remains a key concern for disaster management officials. Although the current projection points to landfall along the Andhra Pradesh coast, any subsequent shift could alter the areas exposed to intense rainfall and strong winds.

Even without a direct landfall in Odisha, the state could experience adverse weather as the system moves across the region. Heavy rainfall may disrupt transport, affect low-lying areas and create difficulties for communities in vulnerable locations.

Officials are therefore preparing for possible emergencies while monitoring updates on the system’s intensity, direction and expected landfall.

Residents Urged to Follow Official Advisories

Residents in potentially affected districts have been advised to remain alert and follow weather bulletins and instructions issued by the IMD and local administrations.

People should avoid unnecessary travel during severe weather, stay away from flooded areas and water bodies, and cooperate with evacuation instructions if issued. Fishermen and those involved in marine activities should strictly follow official safety advisories.

With October 28 approaching, Odisha’s preparedness will depend on timely weather updates, coordinated emergency response and public cooperation. Authorities continue to monitor the developing system as they prepare to minimise the potential impact on vulnerable communities.

Cyclone ‘Arnab’ Threat Intensifies: Odisha on High Alert, Five Districts Face Heavy Rain Risk

Bhubaneswar, Oct 26: Odisha has stepped up its preparedness as a deep depression over the Bay of Bengal is expected to intensify into Cyclone ‘Arnab’, with the system likely to make landfall along the Andhra Pradesh coast on October 28. Although Andhra Pradesh is projected to face the direct impact, several districts of Odisha remain at risk of heavy to extremely heavy rainfall and adverse weather conditions.

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According to the latest information in the supplied report, the system may cross the coast between Visakhapatnam and Bapatla around the forenoon of October 28, with wind speeds potentially reaching 115–125 kmph. Forecasts regarding the system’s movement remain a key concern, as changes in its projected track could affect the extent of its impact on Odisha.

The India Meteorological Department (IMD) has issued red warnings for heavy rainfall in five districts of Odisha, alongside warnings for vulnerable areas in Andhra Pradesh, Chhattisgarh and Telangana.

Five Odisha Districts Under Close Watch

Authorities are closely monitoring the developing weather system, particularly in districts expected to receive intense rainfall. The possibility of extremely heavy downpours has raised concerns over waterlogging, localised flooding, disruption to transport and damage to vulnerable infrastructure.

Coastal and southern Odisha are expected to experience worsening weather conditions as the system approaches the eastern coastline. Rainfall activity could intensify from October 26, with very heavy rain forecast for October 27 and extremely heavy rainfall possible on October 28 and 29.

The IMD is expected to provide further clarity on the cyclone’s trajectory and likely impact as the system develops.

Odisha Government Strengthens Disaster Preparedness

The state government has intensified precautionary measures to minimise potential damage and ensure a coordinated response. Chief Minister Mohan Charan Majhi has reviewed preparedness, while senior administrative officials have been assigned responsibilities in vulnerable districts.

Five senior IAS officers have been deployed to oversee preparedness and coordinate response efforts in districts considered particularly exposed to the developing system.

The government has also placed disaster response teams on standby. According to the supplied report, eight National Disaster Response Force (NDRF) teams, comprising more than 250 personnel, have been positioned across six districts. Odisha Fire Services has also prepared 205 teams to respond to emergencies.

These arrangements are intended to facilitate rescue operations, emergency assistance and the rapid restoration of essential services if conditions deteriorate.

Schools to Remain Closed in Five Districts

As a precautionary measure, educational institutions in five districts have been scheduled to remain closed on October 28 and 29. The decision is aimed at reducing risks to students and staff should severe weather affect road connectivity and normal movement.

Authorities have also imposed restrictions on boat services across Chilika Lake from October 26 to 29. The suspension is intended to prevent accidents amid the possibility of strong winds and rough weather.

Fishermen have been advised against venturing into vulnerable parts of the Bay of Bengal, in line with the weather warnings.

Cyclone Track Remains a Major Concern

One of the key challenges for authorities is the possibility of changes in the system’s projected path. While the current forecast points towards landfall along the Andhra Pradesh coast, a subsequent change in direction could influence rainfall intensity and weather conditions across parts of Odisha.

Even if the storm makes landfall outside the state, Odisha could experience significant rainfall and associated disruptions. Officials are therefore maintaining heightened vigilance and preparing for multiple possible scenarios.

Residents Advised to Follow Official Advisories

With the weather system expected to approach the coast in the coming days, residents in vulnerable areas are advised to follow official IMD bulletins and instructions issued by district administrations.

People should avoid unnecessary travel during severe weather, stay away from flooded roads and water bodies, and cooperate with evacuation or safety instructions if issued by authorities.

The situation remains under close watch as Odisha prepares for the possible impact of Cyclone ‘Arnab’. The storm’s eventual intensity, movement and landfall pattern will determine the scale of the threat to the state.

Odisha’s Growth Story to Expand ‘From Mines to Microchips’, Says PM Modi

Bhubaneswar, Oct 26: Prime Minister Narendra Modi has envisioned a new phase of economic growth for Odisha, saying the state is poised to move beyond its traditional mineral-based industries and emerge as a destination for advanced technology, semiconductors, electronics and computing.

Addressing a programme in Bhubaneswar following the inauguration of the Reserve Bank of India’s (RBI) Data Centre and Cybersecurity Training Institute, Modi said emerging technology sectors would create fresh opportunities for Odisha’s youth and contribute to the country’s broader development ambitions.

Emphasising the state’s changing economic landscape, the Prime Minister described Odisha’s future as one that would progress “from mines to microchips”, reflecting a shift towards technology-driven industries alongside its established strengths in mineral resources.

“I assure the young friends of Odisha that the big dreams you have envisioned will surely come true. We will do it,” Modi said, expressing confidence in the state’s development potential.

Technology to Open New Avenues for Odisha’s Youth

Highlighting Odisha’s industrial prospects, Modi said the state was witnessing opportunities across traditional industries and emerging technology sectors. While mineral resources continue to underpin its industrial economy, investments in semiconductors, electronics manufacturing, data centres and advanced computing could broaden its economic base.

The Prime Minister said these developments would create new avenues for employment, investment and skill development, enabling young people to participate in industries that are increasingly shaping the global economy.

He also underscored the growing importance of eastern India in the vision of a developed India, positioning the region as an emerging contributor to the country’s economic expansion.

Referring to the change in government in Odisha, Modi said the state’s development journey had gained fresh momentum, with technology and industrial growth expected to play an increasingly important role.

RBI Facilities to Strengthen Digital Infrastructure

The inauguration of the RBI’s Data Centre and Cybersecurity Training Institute was highlighted as a key step towards strengthening India’s financial technology infrastructure.

Modi stressed that protecting digital systems had become increasingly important as banking and financial services continued to expand through online platforms. He underlined the need for modern infrastructure, robust cybersecurity measures and skilled professionals to safeguard the country’s financial ecosystem against evolving cyber threats.

The new facilities are expected to support the security and resilience of banking operations while strengthening the technological capabilities required to manage India’s growing digital financial activity.

The Prime Minister’s emphasis on cybersecurity also reflects the broader need to ensure that technological advancement is accompanied by reliable systems and effective protection against cybercrime.

Development Must Reach Villages and Smaller Towns

Modi also reiterated that the benefits of economic growth and technological progress must extend beyond major urban centres to villages and smaller towns.

He highlighted digital connectivity, improved healthcare infrastructure and wider access to banking services as important elements of inclusive development, stressing that the country’s progress should create opportunities for people across different regions.

The Prime Minister said the next decade would place greater emphasis on making banking services more efficient and reliable, building on the expansion of financial access achieved over the previous decade.

Odisha’s Ambition Beyond Mineral Wealth

Odisha’s established strengths in mining and mineral-based industries provide a foundation for its industrial economy. The push towards electronics, semiconductors and advanced computing signals an ambition to diversify that foundation and participate in higher-value technology sectors.

For the state’s young population, the emerging opportunities could translate into new career pathways in engineering, digital infrastructure, electronics manufacturing and cybersecurity, provided investment is matched by skills development and employment creation.

Concluding his address, Modi congratulated the RBI and those associated with the newly inaugurated facilities, expressing confidence in Odisha’s future and the aspirations of its youth.

The vision of moving “from mines to microchips” captures the state’s ambition to combine its resource-based industrial strengths with the opportunities offered by the digital and technology-driven economy.

PM Modi Inaugurates RBI’s INR 169-Crore Data Centre, Cybersecurity Training Facility in Odisha

Bhubaneswar, Oct 26: Prime Minister Narendra Modi on Sunday inaugurated the Reserve Bank of India’s (RBI) new greenfield Data Centre at Info Valley-II in Jatni, Khordha district, during his one-day visit to Odisha. The ₹169-crore facility is expected to strengthen India’s digital financial infrastructure and enhance the security and resilience of the country’s banking systems.

Spread across 18.55 acres, the state-of-the-art facility is the RBI’s second Data Centre, following its existing centre in Navi Mumbai. The project marks a significant step towards strengthening the technological backbone supporting India’s rapidly expanding digital payments ecosystem.

Strengthening Digital Banking Infrastructure

The new Data Centre will support the secure storage and management of information associated with major digital payment and banking systems, including the Unified Payments Interface (UPI), National Electronic Funds Transfer (NEFT) and Real Time Gross Settlement (RTGS).

With digital transactions becoming an increasingly integral part of everyday financial activities, the facility is expected to improve operational resilience and help maintain the continuity of critical banking services during cyberattacks, technical failures and other disruptions.

The infrastructure is also designed to support the adoption of emerging technologies such as cloud computing, artificial intelligence (AI) and big data analytics, enabling advanced data management and more efficient digital operations.

Focus on Cybersecurity and Capacity Building

Alongside strengthening data infrastructure, the project places emphasis on cybersecurity preparedness and specialised training. The associated cybersecurity training initiative is aimed at enhancing the capabilities required to protect India’s digital financial ecosystem against evolving cyber threats.

As cyber risks grow alongside the expansion of online banking and digital payments, stronger technological safeguards and skilled cybersecurity professionals are becoming increasingly important for financial institutions.

The new facility is expected to contribute to the RBI’s broader efforts to build a secure, reliable and resilient digital financial architecture.

Security Arrangements for PM’s Odisha Visit

Extensive security measures were implemented in Bhubaneswar for the Prime Minister’s visit. According to the report, the Commissionerate Police deployed 57 platoons of police personnel, supported by five platoons of Central Armed Police Forces (CAPF).

Traffic restrictions were also introduced at key locations to facilitate the visit and ensure smooth movement during the programme.

A Boost to Odisha’s Technology Infrastructure

The inauguration adds a significant financial technology infrastructure project to Odisha’s growing development landscape. The facility at Info Valley-II is expected to reinforce the state’s role in supporting technology-driven public and financial services.

By combining secure data infrastructure with a focus on cybersecurity and advanced digital technologies, the RBI’s new centre represents an important investment in the reliability and protection of India’s financial systems as digital transactions continue to expand.

Tin Men Capital leads US$7.4M Series A for Vision AI startup Ailytics to expand across APAC, US and Gulf

SINGAPORE, Oct. 26, 2026 /PRNewswire/ — Ailytics, a vision AI startup that turns existing industrial CCTV into a real-time safety and operations layer, has raised US$7.4 million in a Series A led by Tin Men Capital. SEEDS, part of SG Growth Capital, Safie, Japan’s largest cloud camera company, and one of Japan’s largest construction companies joined family offices and existing investors.

Since a US$2.7 million pre-Series A led by Tin Men Capital in April 2024, Ailytics has grown from 70 projects in four countries to more than 400 deployments across 15 countries.

From Singapore to four continents

Ailytics began on Singapore public housing (HDB) projects and now runs large deployments at NatSteel, PaxOcean, DHL, Rome’s Leonardo da Vinci International Airport and the Changi Airport Terminal 5 build.

“This round strengthens our local teams in the US, Japan, Australia and the Gulf, as we focus on harsh outdoor industrial environments. We are building a global industrial AI company from Singapore,” said Lenard Tan, Co-Founder and CEO of Ailytics.

Built for heavy industries anywhere

Ailytics’ proprietary product, Ailyssa, derives three-dimensional spatial understanding from a single two-dimensional feed and works through rain, dust, poor lighting with decades-old cameras. provide real-time actionable insights. Its latest reasoning engine, AilyssaX, process contextual scenes on the move and verify multi-step procedures, enabling more accurate and meaningful alerts.

“This round lets us build our own domain-specific reasoning models and keep the cost of running AI low as demand grows,” said Prateek Manocha, Co-Founder and CTO of Ailytics.

“Ailytics has reached 15 markets with very robust unit economics and client churn below 1 per cent. We want to be right behind the team as it scales globally,” said Jeremy Tan, Co-Founder and Managing Partner at Tin Men Capital.

About Ailytics

Ailytics turns existing CCTV into a real-time AI safety and operations layer for heavy industries. Founded in Singapore in 2021, it has more than 400 deployments across 15 countries. For more information, visit ailytics.ai.

Media Contact

marketing@ailytics.ai 

https://www.ailytics.ai/

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DiDi Shareholders Overwhelmingly Back Hong Kong Relisting; Want Independent Director, Open Earnings Calls, and First Shareholder Meeting in Four Years, Survey Finds

A Heng Ren Partners survey this month finds at least 99.3% support on five key shareholder issues to boost shareholder value; shareholders want DiDi’s board and management to respond with concrete action

BOSTON, Oct. 26, 2026 /PRNewswire/ — Heng Ren Partners LLC, an active asset manager whose fund owns shares of “the Uber of China,” DiDi Global Inc. (OTC Pink: DIDIY), today released the results of a survey of DiDi shareholders showing near-unanimous support for relisting the company’s depressed shares on the Hong Kong Stock Exchange.

In 2022 DiDi’s shares were delisted from the New York Stock Exchange (NYSE) and moved to trade only OTC (over-the-counter) in the U.S. Despite delivering the most rides in the world, DiDi shares languish because its OTC status disqualifies it from indexes, and most institutional investors avoid buying OTC stocks, which are mostly penny stocks or shell companies. Heng Ren believes a relisting in Hong Kong is the best opportunity for realizing shareholder value and is campaigning for the change in trading venue.

DiDi shares are trading at close to $3.00 down 79% versus the 2021 IPO price of $14.00 per American Depositary Share (ADS). DiDi shares are down approximately 52% in the past year. Aside from the OTC discount, DiDi’s lack of communication with shareholders – no shareholder meetings, no public earnings calls – and lack of full board representation, all heighten the perceived risk of investment in DiDi.

Shareholders answered each of the survey’s five questions, and at least 99.3% of respondents answered that they want change:

Key findings:

• Hong Kong relisting: 144 respondents to this question (99.3%) want DiDi’s shares listed on the Hong Kong Stock Exchange instead of trading OTC in the U.S.
• Shareholders’ meeting: All 147 respondents (100%) want DiDi’s board to call a shareholders’ meeting to discuss the relisting plan.
• Relisting plan: All 145 respondents (100%) want DiDi to disclose its plan for relisting the shares in Hong Kong.
• Earnings calls: 146 respondents (99.3%) want DiDi to open its quarterly earnings calls to all shareholders.
• Independent director: 146 respondents (99.3%) want an election in which shareholders can nominate and choose an independent director to fill a vacant board seat and represent them.

DiDi’s shares have traded over-the-counter in the U.S. since the company’s June 2022 delisting from the New York Stock Exchange. In December 2021, DiDi announced that it would start preparations for a listing in Hong Kong. To Heng Ren’s knowledge, DiDi has not publicly announced a plan or timetable since, and it has not held a shareholders’ meeting since 2022.

“DiDi’s shareholders have spoken in their answers to this survey, and their message is clear and consistent,” said Peter Halesworth, founder, Managing Partner and Chief Investment Officer of Heng Ren Partners in Boston. “Relist, re-engage, and understand we want representation. These are modest requests that any global public company should be able to meet: tell us the plan to relist in Hong Kong, meet with us, open your earnings calls to everyone, and let us elect an independent director.

“We believe relisting in Hong Kong is the most rational outcome for all shareholders, and we think it is consistent with the direction Beijing has encouraged. We call on DiDi’s board and management to respond positively with concrete action,” Halesworth said.

Taken together, shareholders are making four requests of DiDi’s board and management: tell shareholders the plan and timetable for relisting in Hong Kong; hold a shareholders’ meeting to discuss shareholder issues; open quarterly earnings calls to all shareholders and interested investors; and let shareholders nominate and elect an independent director.

Heng Ren and shareholders have written letters to DiDi’s board and management, and also contacted DiDi’s largest shareholders asking them to support relisting in Hong Kong, including SoftBank Group Corp. (TSE: 9984) which owns approximately 21.5% of DiDi’s shares, Uber Technologies, Inc. (NYSE: UBER), a 12.8% shareholder, and Tencent Holdings Ltd. (HKEx: 0700), a 7.1% shareholder of DiDi.

“None of this will happen unless all shareholders ask for it,” Halesworth said.

Heng Ren Partners LLC invites DiDi shareholders to stay up-to-date and engage in its initiative to see DiDi’s shares listed on the Hong Kong Stock Exchange. Visit https://www.hengreninvestment.com/ and click “Bring DiDi Home” for details about the campaign.

About the survey: The survey asked five Yes-or-No questions and was conducted from October 16 to 21, 2026. Participation was voluntary, and the results reflect the views of the hundreds of shareholders surveyed. It is not a scientific sample of all DiDi shareholders.

About Heng Ren Partners

Heng Ren Partners LLC is an SEC-registered investment adviser based in Boston. It manages Heng Ren Investments LP, established in 2013, and Heng Ren Silk Road Investments LLC, a fund launched in 2018. For more information, visit www.hengreninvestment.com.

Media Contact:



Peter Halesworth

Founder & CIO

Heng Ren Partners LLC

info@hengreninvestment.com

Related Links

https://www.hengreninvestment.com

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.

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.

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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

“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.

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.

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.

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.

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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