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India’s ITC says to keep cigarette factories shut over health warning rules

India's top cigarette maker ITC Ltd, part-owned by British American Tobacco, said it was not ready to print bigger health warnings on its packs as mandated by the government and will keep its factories shut until clarity emerges on the new rules. ITC's comments highlight the latest tussle between India's $10 billion cigarette industry and the government after new rules kicked in on Friday mandating health warnings should cover 85 percent of a pack's surface, up from 20 percent now. “The industry was led to believe that the government would renotify new health warnings after considering the committee's recommendations,” ITC said in its statement.

Gemalto reports 19 percent rise in Q1 revenue

(Reuters) – Mobile chip and smart card maker Gemalto reported a 19 percent rise in first-quarter sales on constant exchange rates, its first release of results since finalizing the acquisition of U.S. data security company SafeNet in January. First quarter revenue rose to 686 million euros ($762.49 million) compared to 532 million euros in the previous year. The company beat analysts' expectations of 675 million euros in quarterly revenue. Gemalto, which makes smart chips for mobile phones, bank cards and biometric passports, said Payment & Identity segment's revenue was 369 million euros for the first quarter, an increase of 35 percent compared to the previous year, helped by the SafeNet acquisition.