Food Financial News

Former Assistant Treasury Secretary for Economic Policy Michael Faulkender says there is nothing changing to cause a cutback on the inflationary pressures on 'Kudlow.'

Evonik India Research Hub (EIRH), in Thane on April 23, 2024. The company said the inauguration ceremony was attended by the Consul General of the Federal Republic of Germany in Mumbai — Dr. Achim Fabig. Evonik India’s new office, spread across 100,000 square feet, will serve as a hub for Evonik's operations in India, providing an inspiring environment for employees to collaborate, innovate, and drive growth, the company said in a statement. Evonik currently employs approximately 850 employees in India in its three entities. The EIRH is a crucial hub for developing new products and technologies catering to the needs of the Indian market and creating products tailored to Indian customers' specific requirements. EIRH will also be a global support center for formulation development in pharmaceuticals, nutraceuticals, and the food industry, the company said.

PTI that precise number would depend on several factors, including the election's scale, the quantity of polling stations, and the demands of election-related tasks. "However, on our platform, we anticipate at least 9 lakh jobs during the elections," Dungarwal told PTI.

Rahul Jain, VP, Dolat Capital, says the competitive intensity could be slightly different once the Swiggy IPO happens because the objective of achieving profitability was more important from a IPO perspective and once that happens, the competitive landscape may become slightly larger from post listing perspective. It seems like Swiggy is all set, at least got the shareholder nod for that mammoth IPO in the offing which all of us have been waiting for. But in terms of valuation, how do you think it stacks up to Zomato because even Zomato valuations have quite peaked out in the last one year or so? Rahul Jain: When it comes to valuation, we have seen there is a significant rise and that was due to two reasons – one, of course the way the Blinkit business has scaled up and looks like a second optionality for the Zomato shareholders beyond the food ordering business and of course the path to profitability which they have been guiding and consistently achieving those objective in a time frame which they have been identifying.

Zomato, CLSA maintained an underperform rating on ACC, Goldman Sachs recommended a neutral rating on Nestle India and JPMorgan has an underweight rating on Tech Mahindra.

Zomato senior executive Mohit Gupta and Myntra founder Mukesh Bansal have raised $26 million in seed money for their omnichannel fashion startup Lyskraft, making it one of the largest early-stage rounds for an Indian startup amid the ongoing funding crunch. The round was led by Peak XV Partners, formerly Sequoia Capital India, Gupta told ET, adding that the seed money will help the partnership take forward the plan of building an omnichannel play as a marketplace for premium brands, starting with women’s fashion and subsequently expanding into other lifestyle categories.

It's now illegal to sell weight-loss and muscle-building supplements to minors in New York

Bengal Chief Minister Mamata Banerjee urged ECI on Thursday to come out with a list with details of central forces deployment in all other states in the country and questioned why a record number of central forces have been sent to Bengal. Meanwhile, she alleged Rastriya Swayam Sevak Sangh (RSS), known for its sacrifice, is giving money to the people and seeking vote in Medinipur Constituency. Talking about central force deployment in Bengal, Banerjee said, “I would urge ECI to come out with a list-how many central forces have been deployed in which states and why record number of central forces have been sent to Bengal and why? You want to capture Bengal? You don't have faith in people?” Ahead of the Lok Sabha polls, in a bid to ensure free, fair and violence-free Lok Sabha polls in the state, the Election Commission of India (ECI) has already sanctioned the deployment of 920 companies of central forces in West Bengal, highest among all states in the country.

Chipotle says its employees can choose chicken again

Spicy, steaming, slurpy, ramen might be everyone’s favorite Japanese food

West Bengal CM Mamata Banerjee on Thursday asked the Election Commission of India to explain why there was a «record number» of central paramilitary force deployed only in West Bengal. She urged the ECI to give details of force deployment in other states. She also alleged that RSS cadre was «distributing cash» to people while seeking votes in Medinipur constituency.

Prominent brands are under the scanner for selling sugary infant food, chicken fed with antibiotics, and spices peppered with cancer-causing chemicals. Naturally, experts are concerned about lax regulations. Mint reviews the safety and quality of our packaged food: Last week, Swiss watchdog Public Eye said Nestle adds excess sugar to its infant milk and cereal products sold in low- and middle-income countries, including India, but not in developed markets.

NEW DELHI : Water level in India’s 150 major reservoirs fell to 30% of their total storage capacity, with eastern and southern India seeing levels depleting rapidly owing to severe heatwave. While 26 reservoirs have 50% of normal water storage capacity, the level in reservoirs of eastern and southern regions has dropped to as low as 39% and 17%, respectively, as per the bulletin released by the Central Water Commission on Thursday.

Also read: Heatwave alert: IMD says temperature to soar in Bengal, Odisha, and other states "Consequently, retail inflation in FY2023-24 witnessed a significant decline, reaching its lowest level since the covid-19 pandemic, with core inflation dropping to 3.3% in March 2024," it added. Core inflation strips out the prices of food and energy that tend to be volatile.

New weight loss drugs are reshaping a dieting industry built on eating less and exercising more

Ramen noodles are so popular that they've become one reason to visit Japan

Also read: FSSAI to inspect samples of spices and infant food pan-India “The board convened an industry consultation and has put in systems to commence mandatory ETO testing in spice consignments destined for Singapore and Hong Kong. Spice consignments to other countries will also be strictly monitored for the presence of ETO.

Vadilal Industries Ltd.(up 5.83%), Future Consumer Ltd.(up 5.56%), Emami Ltd.(up 4.18%), Nestle India Ltd.(up 2.50%), Colgate-Palmolive(India)Ltd.(up 1.88%), Dangee Dums Ltd.(up 1.75%), Sheetal Cool Products Ltd.(up 1.48%), Procter & Gamble Hygiene & Healthcare Ltd.(up 1.27%), Bikaji Foods International Ltd.(up 1.26%) and Jyothy Labs Ltd.(up 1.21%) stood among the top gainers.

WASHINGTON—U.S. troops plan to start assembling a floating pier off the coast of northern Gaza as early as this weekend, American defense officials said, part of an effort by the Biden administration to get more aid into the besieged enclave ahead of Israel’s planned invasion of the city of Rafah. But US officials warned that they didn’t expect the pier to supplant deliveries across Gaza’s land borders, which the United Nations has said is the most efficient way to get humanitarian aid into the strip.

sugar or two. Experts say this habit has likely persisted or worsened in your adulthood, paving the way for the bitter moniker “diabetes capital of the world” for India. The problem with the so-called nutritional drinks has come to the fore in recent weeks after the latest controversy regarding Nestle's Cerelac brought to light how brands have been using 'added sugar' to products that are meant for infants. However, denying the allegations, Nestle spokesperson told ET Online that the reduction of added sugars is a priority for the brand.

core inflation is higher than that of food inflation and the response of core inflation to fuel price shock becomes significant and large during global uncertainties, said a research paper by RBI economists. Food inflation is better anchored since the central bank moved to flexible inflation targeting as its policy goal, the paper said. The paper assessed the degree and duration of the potential second-round effects of food and fuel price shocks on headline inflation. " Our analysis suggests that headline inflation reverts to core inflation and not vice versa. While there has been a decline in the volatility of fuel inflation, its impact on core inflation has turned significant of late" said Harendra Kumar Behera and Abhishek Ranjan from the Reserve Bank's department of Economic and Policy Research. The views are however those of the authors. The article tried to estimate the impact of food and fuel inflation shocks on core inflation to assess second-round effects as it helps to assess whether monetary policy should react to temporary supply shocks. The response of core inflation to food inflation shock is found to be the highest during the 2nd to 3rd quarter and starts dampening thereafter.