Food Financial News

Infosys has signed a multi-year contract with Singaporean shipping company Pacific International Lines (PIL) to accelerate PIL’s digital transformation initiative and help revamp PIL’s existing customer portal and deploy a scalable and modern technology platform. “This will enable PIL to further their ‘Driving Connectivity’ mission, which is aimed at connecting their businesses across the markets that they serve. In addition, PIL's web and mobile applications will undergo a comprehensive overhaul to simplify user experience and enhance customer engagement,” Infosys said in a statement on the exchange.

Walmart has sourced goods worth over USD 30 billion from the Indian market in the last two decades for its global operations, a company official said on Tuesday. Now the Bentonville-headquartered firm has a goal to triple its sourcing of goods from India up to worth USD 10 billion per year by 2027, said Walmart Inc Executive Vice President, Sourcing Andrea Albright. Walmart is encouraging MSMEs (Micro, Small and Medium Enterprises) and entrepreneurs with proper training and believes that there is a tremendous opportunity to continue to contribute to India's growing economy, she said.

HSN codes for certain rice varieties to enable exports of those which are traditionally not consumed by the people in the country, a senior official said on Tuesday. At present, all categories of non-basmati white rice are banned for exports. According to a presentation of the Agricultural & Processed Food Products Export Development Authority (APEDA), they are working on separate HSN codes for GI (Geographical Indications) rice varieties like Red rice, Black rice and Kalanamak rice. In international trade parlance, every product is categorised under an HSN code (Harmonised System of Nomenclature). It helps in the systematic classification of goods across the globe.

minimum support price (MSP) for their produce. The government already provides MSP on agriculture produce but the farmers want a law that guarantees it. While there are several other demands too, such as implementation of the Swaminathan Committee report and a pension of Rs 10,000 per month for every farmer above 60 years of age, a legal guarantee for MSP is the chief demand. It was also part of nearly a dozen demands farmers had during the earlier protests against the farm laws. What is Minimum Support Price (MSP)?

Inflation may have fallen below a 3% annual rate last month, which would be the lowest level in nearly three years and a potentially significant milestone as the Biden administration seeks to bolster Americans’ views of the economy before the November ...

Delhi Chalo" movement, Congress leader V Hanumantha Rao voiced his concern on Tuesday, stating that farmers are being subjected to injustice. He criticized the BJP-led central government for prioritizing discussions on topics like the Ram temple in parliament while neglecting the pressing issues faced by farmers. «Delhi Chalo» is a call for a protest march towards Delhi, primarily by farmers. As part of the movement, farmers are protesting over their demands, which include a law ensuring the minimum support price for their agricultural produce and a debt waiver.

Meteorologists have predicted that El Niño conditions are set to dissipate by this summer, perhaps even by June, raising hopes of a bountiful Indian monsoon in 2024. After below-average cumulative rainfall and a warm 2023, various national weather forecasting agencies now expect this see-saw of the Pacific Ocean to turn neutral by April-June and then start developing into La Niña, the opposite condition. As geography dictates and experience shows, this switch implies a shift from a relatively parched Indian subcontinent to a wetter one.

Inflation in January dropped modestly, thanks to a cool-off in food prices. Government data released on Monday showed the benchmark consumer price inflation rate declining to 5.1% year-on-year, compared with 5.7% in December, with food inflation easing to 8.3% in the first month of 2024 from 9.5% the month before. While inflation’s declining trend is comforting, this drop isn’t as sharp as some economists had expected.

₹6.72 trillion were higher than last year’s ₹6.37 trillion. While this looks encouraging, 80% has been raised by financial companies, compared with 74% last year. So non-financial firms have raised just ₹1.34 trillion.

Supertails, which focuses on petcare products and services, has raised $15 million (around Rs 125 crore) in equity funding led by RPSG Capital Ventures. The firm’s existing investors such as Fireside Ventures, Saama Capital, DSG, and Sauce VC also participated. The funds will be used for offline expansion, scaling up products, acquiring new customers and expand its healthcare service, Supertails Pharmacy. The company plans to launch trial stores in a mix of metropolitan and tier-I cities like Bengaluru, Mysore or Ahmedabad. Currently, the company does not have physical retail stores.

Nivruti Rai, managing director and CEO of the country’s investment promotion agency Invest India, is in the thick of things at a time when the government is going hammer and tongs to attract investments into the country and when Apple, Micron, VinFast and a slew of other companies are betting on manufacturing in India. In an interview with ET’s Dia Rekhi, Rai, a former Intel India head, talks about the countries and the sectors she is bullish on, her focus on increasing return on investment (RoI) for investors, and how her nearly three-decade-long stint at American chipmaker Intel is helping her in her new role and so on. Edited excerpts: How has been your transition from Intel to Invest India?

By Akash Sriram

Drivers’ group announced that on Valentine's Day, numerous drivers from Uber (NYSE:UBER), Lyft (NASDAQ:LYFT), and the food delivery service DoorDash (NASDAQ:DASH) will participate in a nationwide strike to demand fair pay.

Uber, Lyft and food delivery app DoorDash will strike across the United States on Valentine's Day seeking fair pay, drivers' groups said on Monday. The strike call is the first since Uber and Lyft went public in 2019. Drivers will picket outside airports and Uber offices, two of the groups said.

Mithun Chakraborty has been discharged from the hospital and given a clean bill on health. As per a report by the news agency PTI, the ‘Disco Dancer’ star was discharged on Monday afternoon. In an interview with another news agency IANS, the ‘Kabuliwala’ actor expressed regret for not prioritising his health and focusing on a poor diet. The ‘Dance Dance’ star said he was “punished” for overindulging in food without restraint. He also revealed that the Prime Minister Narendra Modi had called him up and berated him for neglecting his health. “I eat like a demon. So I was punished. My advice for everyone is to control your diet. Those who are diabetic should not have the misconception that consuming sweets will not make any difference. Control your diet,” he told the news agency.

₹50,000 crore, and exports (globally) would be just ₹1,500 crore. That is puny compared to the overall ghee market in India, which was estimated to be ₹3.2 trillion in size in 2023, according to data from market research firm IMARC, a large part of which is in the unorganized space. The market is expected to grow to ₹6.9 trillion by 2032, at a compounded annual growth rate (CAGR) of 8.72% from 2024.

inflation prints due this week. The benchmark 10-year yield ended at 7.0946%following its previous close of 7.1067%.

On the outskirts of Barrie, Ont., sunlight washes over the outcast cucumber and parsley stacked on skids at Eat Impact’s warehouse.

Retail inflation eased to a three-month low of 5.1% in January compared with 5.7% in December, reversing course from the previous two months, according to data released Monday. Another data release showed that industrial output rose back again in December to 3.8% compared with 2.4%, indicating improving prospects. Experts point out that moderating inflation coupled with strong growth provides further policy space for RBI to cut rates in the latter half of the year.

Union ministers on Monday evening began talks here with farmer leaders in a bid to dissuade them from their 'Delhi Chalo' march to press the Centre for enactment of a law on minimum support price for crops. The ministers, including food and consumer affairs minister Piyush Goyal and agriculture minister Arjun Munda, were holding the second round of talks with the farmer leaders at the Mahatma Gandhi State Institute of Public Administration in Sector 26 here. Samyukta Kisan Morcha (Non-Political) leader Jagjit Singh Dallewal and Kisan Mazdoor Sangharsh Committee general secretary Sarwan Singh Pandher, among others, were part of the meeting, which is currently underway. SKM (Non-Political) and the Kisan Mazdoor Morcha have announced that more than 200 farm unions would head to Delhi on Tuesday to press the Centre to accept their demands, including the enactment of a law to guarantee a minimum support price (MSP) for crops.

cholesterol levels, one-third of Americans say they haven't had their numbers checked in the past five years. Getting your cholesterol tested — and under control — is critical to preventing heart disease and other serious health problems. But figuring out when to test and what to make of the numbers can feel daunting. How harmful is «bad cholesterol» for your health? Should you worry if your total cholesterol is just on the cusp of being too high? And how much can you lower your levels by changing your diet or exercise habits?