• Uruguay wins case against US tobacco firm

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    MONTEVIDEO: Uruguay won an arbitration case against US tobacco giant Philip Morris, which sued the state claiming its strict anti-tobacco law harmed the cigarette maker’s business, both sides said Friday. “The Uruguayan state has emerged victorious and the tobacco company’s claims have been roundly rejected,” Uruguayan President Tabara Vasquez said in a televised address. He was citing a decision by the World Bank’s arbitration body, the International Center for Settlement of Investment Disputes. Philip Morris reacted by saying “we respect” the verdict, which is binding in any case. “For the last seven years, we have already been complying with the regulations at issue in the case, so today’s outcome doesn’t change the status quo,” Marc Firestone, vice president of the US company, said in a statement. Philip Morris had “never questioned Uruguay’s authority to protect public health,” he added.

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