OCTOBER: Chinese e-commerce firm Alibaba said on Wednesday it will stop selling e-cigarette components in the United States, amid growing regulatory scrutiny and reports of lung disease and some deaths linked to vaping.
The move follows announcements by Kroger Co. and Walgreens Boots Alliance Inc. this week that they would stop selling e-cigarettes at their stores, in line with a similar decision by Walmart.
Alibaba said it already had a long-standing policy in place to not sell complete e-cigarette products in the United States.
Vaping products have been linked to a mysterious lung illness that is reported to have led to 18 deaths as of last week, with the number of confirmed and probable cases of the condition exceeding 1,000, according to the US Centers for Disease Control and Prevention.
Alibaba Group Holding Ltd. said that listings for products such as box mods, vape pens, herbal vapors, heat not burn devices, and empty pod cartridges would not be displayed for users located in the United States.
While Juul Labs Inc. dominates the North American market for pod e-cigarettes, many reports of death and injury in the United States have been tied to makeshift brands with no identifiable owner.
The most prominent, Dank Vapes, was linked to 24 patients with lung illness, according to a study from the New England Journal of Medicine. The products contained THC, the psychoactive ingredient in marijuana.
Prior to the suspension, buyers could easily purchase devices, component parts and packaging from sites like Alibaba or Amazon to make their own counterfeit vaping devices.
Amazon.com Inc. took down vape paraphernalia in September, although it did not specify the exact products it removed.
Alibaba to stop sales of e-cigarette components in the US
Alibaba to stop sales of e-cigarette components in the US
- Vaping products have been linked to a mysterious lung illness that is reported to have led to 18 deaths as of last week
- Prior to the suspension, buyers could easily purchase devices, component parts and packaging
Closing Bell: Saudi main index climbs to 10,485
RIYADH: Saudi Arabia’s Tadawul All Share Index edged up on Sunday, gaining 34.32 points, or 0.33 percent, to close at 10,484.59.
The total trading turnover of the benchmark index stood at SR2.59 billion ($690 million), with 168 listed stocks advancing and 87 declining.
The Kingdom’s parallel market Nomu also gained 100.37 points to close at 23,454.65.
The MSCI Tadawul Index advanced by 0.13 points to 1,377.44.
The best-performing stock on the main market was Nama Chemicals Co., whose share price increased by 9.98 percent to SR22.38.
The share price of Al Masar Al Shamil Education Co. rose by 9.15 percent to SR23.85.
Saudi Paper Manufacturing Co. also saw its stock price climb by 8.42 percent to SR57.95.
Conversely, the share price of Canadian Medical Center Co. dropped by 6.37 percent to SR6.03.
The stock price of Kingdom Holding Co. also declined by 3.16 percent to SR8.28.
In the parallel market, Alfakhera for Mens Tailoring Co. was the top performer, with its share price advancing by 16.40 percent to SR8.80.
On the announcements front, Theeb Rent a Car Co. said it had signed a long-term vehicle leasing services contract valued at SR110.4 million with Hungerstation Co.
Under the deal, Theeb will lease 2,000 vehicles to HungerStation for a period of four years starting from 2026, according to a Tadawul statement.
The statement added that the vehicles will be delivered in batches within the first six months from the contract start date, taking into consideration global logistical circumstances and procedures beyond the control of both the agents and the company.
The contract is expected to have a positive impact on the company’s financials from the first quarter of 2026.
The share price of Theeb Rent a Car Co. declined by 0.79 percent to SR37.80.
