Food Financial News

As finance minister Nirmala Sitharaman gears up to present the vote-on-account budget for fiscal year 2024-25 (FY25) on 1 February, India's economy finds itself at a crucial juncture. The mix of current macroeconomic indicators presents both opportunities and challenges for the finance minister. On the bright side, growth projections are promising.

₹50,000 crore in divestments for FY25. Moreover, dividends to the government should remain strong (both RBI and PSUs). Subsidies are estimated to fall owing to fertiliser subsidies.

₹15,188 crore was flattish year-on-year. Pricing growth turned negative in Q3 and can remain under pressure in the foreseeable future. Not surprising then that HUL’s shares fell by over 3% on Saturday.

Ram temple site, has been named Ramjanmabhoomi Path. The bank's branch office, located in the vicinity, has been beautified with ornate lampposts and canopies with claddings on the side walls while a huge banner mounted on the wall bears an imposing image of the Ram temple along with the bank's name. Near the redeveloped Ayodhya Dham railway station, another PSU bank has set up a huge hoarding that reads ''Ayodhya Nagari mey aapka swagat hai".

Ayodhya, using it as a ploy to deceive unsuspecting individuals, according to a ToI report. If you receive a message offering 'prasad' from the sacred event and it includes a link for payment, refrain from clicking. Modus Operandi Police said that the scammers send messages to random numbers, assuring the delivery of 'prasad' from Ayodhya. Upon clicking the link provided in these messages, users are prompted to input their details. Almost immediately after entering their phone numbers, the fraudsters obtain access to the linked bank accounts. The entire process of siphoning off the funds takes mere seconds. Some deceitful groups are even enticing people with offers like phone recharge, using a similar modus operandi to gain unauthorised access to bank accounts. A city police officer cautioned, «There is hardly any religious organization or institution that delivers prasad like this. If anyone comes across such messages, please ignore them and don’t click on any links.»

Ram Temple in Ayodhya on January 22, the world's largest lock, weighing 400 kg, and 1,265 kg of laddu Prasad reached Ayodhya on Saturday. Both are offerings to the temple. While the lock is from Aligarh, the ladus are from Hyderabad. But what is in common between the two is the devotion of the people associated with them to Lord Ram. The laddu prasad was made by Sri Ram Catering Services in Hyderabad.

₹2,492.65 apiece on the BSE. HUL posted a standalone net profit of ₹2,519 crore for the third quarter of FY24, a growth of just 0.55% from ₹2,505 crore in the same quarter of last fiscal year. However, HUL’s Q3 net profit declined 7.28% from ₹2,717 crore on a sequential basis.

Read more here Reliance Industries Limited reported a 10.9% increase in its net profit to ₹19,641 crore in the third quarter of FY 23-24. The company's total revenue from operations stood at ₹2,27,970 crore during the quarter under review. The robust performance of the oil and gas segments was one of the major highlights of the quarterly results of Mukesh Ambani's firm.

Reliance Industries, ICICI Bank, HUL, Paytm, are among the stocks that will be in focus todayBenchmark indexes rose in Japan, South Korea and Australia. TSMC jumped more than 5% in Taiwan after its American depository receipts surged almost 10% to close at the highest since February 2022.Shares in mainland China declined after making a late turnaround on Thursday.

Ayodhya Ram Mandir News Live updates The Central Consumer Protection Authority (CCPA), headed by Chief Commissioner Rohit Kumar Singh, has initiated action against Amazon Seller Services. The authority said it has been observed that various sweets/food products are available for sale on the Amazon e-commerce platform (www.amazon.in) claiming it to be "Shri Ram Mandir Ayodhya Prasad".

 The San Francisco Beat host Erica Sandberg breaks down gutted Main Street stores on Varney & Co.

Canada’s holiday sales period got underway in November with a 0.2 per cent decline in retail sales led by falling purchases at food and beverage retailers.

Quaker Oats Company and PepsiCo Canada after its Quaker products were recalled in Canada due to potential salmonella contamination.Slater Vecchio LLP launched the lawsuit “on behalf of all persons in Canada” who purchased any of the 38 Quaker products that were recalled, or those who believe they got sick after eating the products.The Canadian Food Inspection Agency issued the initial recall on Jan. 11, 2024, for 38 Quaker products, including granola, cereal, and then later recalled over 30 yogurt and parfait products that contained Quaker granola.“Canadians trust manufacturers to produce packaged foods that can safely be consumed without the risk of illness from contamination,” Sam Jaworski, a partner at Slater Vecchio LLP, said in a statement.“Through a class action, Canadians can access justice to hold suppliers accountable through strength in numbers, even if it would not be economical to pursue a lawsuit at the individual level.”Slater Vecchio LLP is seeking to identify those who believe they got sick from the recalled products, and say they can be contacted here.Salmonella is a bacterial infection commonly transmitted through contaminated food and water and poses a significant health threat, especially to children and older adults, as it can lead to severe gastrointestinal symptoms, dehydration, and, in extreme cases, death.“Salmonella is one of the most prolific pathogens we know,” Keith Warriner, a food safety professor from the University of Guelph, previously told Global News.

Amrit Udyan of the Rashtrapati Bhavan will open for public viewing from February 2 to March 31, an official statement issued on Friday said. People can visit the Udyan six days a week except on Mondays which are maintenance days, it said. They will be allowed to visit in six hourly slots between 10 AM and 4 PM, said the statement issued by the Rashtrapati Bhavan.

Indian startups dropped about 80% on year this week, totalling $143.9 million across 26 different deals. Companies, across seed, early and late stages, had raised about $722 million in 30 rounds in the period from January 13 to 19 last year, as per data from Tracxn.

₹3,500 crore to be used for the acquisition of stakes in Capital Foods Private Limited and Organic India Private Limited. The funds will be raised through the issuance and allotment of Commercial Papers, it added.

Jindal Stainless export targets hit as Red Sea crisis escalates That’s spooking the industry. Italian exporters fear kiwi and citrus fruits will spoil on the way, Chinese ginger is getting pricier and some African coffee cargoes were briefly delayed. Grain is being diverted from the Suez Canal and a livestock carrier bound for the Middle East has changed course.

NEW DELHI : India will not negotiate on any farm issue at the World Trade Organization (WTO) until the body finds a permanent solution to the issue of public stocks of foodgrains, a government official said, signalling a hardening of position ahead of the world body’s next ministerial meeting. India wants the matter settled as it prepares for the WTO’s 13th ministerial meeting in Abu Dhabi from 26-29 February. The ‘ministerial’ is the highest decision-making forum at the 164-member rule-setting body.

Investing.com-- Japanese consumer inflation eased as expected in December, furthering bets that the Bank of Japan will keep its ultra-dovish policy largely unchanged when it meets in the coming week.

By Leika Kihara and Takahiko Wada

Congress on Thursday questioned the Modi government's claim that 250 million people in the country were alleviated from poverty in the last nine years. If the claim was right, why did not the consumption rate increase and why did the Centre still provide free food to crores of people, the main Opposition party asked. Disputing the projection and pointing out that private consumption growth had slowed down to 4.4% this fiscal, compared to 7.1% last fiscal, Congress spokesperson Supriya Shrinate alleged that the government claim on decreasing poverty could be a «conspiracy to deny poor the safety net» provided by the government. Questioning Niti Ayog's finding that 248.2 million people were brought out of poverty, she said: «Why are these people not consuming daily essential items like soap, shampoo, oil and biscuits? Why are companies like HUL, ITC and Britannia reporting muted sales.