Search Results for: Russian

Russian food retailers are expanding their offerings of ready-to-heat food in response to growing demand from consumers. The Covid-19 pandemic has encouraged sales, as an alternative to eating out, but it is building in longer-term trends among Russian consumers, particularly in large cities, to seek out convenient food product options.…

WITH market researchers such as Polaris predicting that the global vegetable-based meat product market will generate USD35.4 billion in sales by 2027, major and small food tech companies are working hard to tap this growing niche. Polaris predicts that the segment will expand with a compound annual growth rate of 15.8% between 2020 to 2027, so there is space now for innovative products to attract market share.…

Traditionally a society of meat lovers, Russians are now developing a taste for vegetable and cereal-based products that reflect the taste and texture of meat – food manufacturers are eager to cater to this trend.

International companies have been entering this segment in Russia, while ambitious local startups are rapidly expanding their production capacities.…

THE USA’S Office of Foreign Assets Control (OFAC) has settled two cases involving Deutsche Bank Trust Company Americas, accused of breaching US sanctions designed to impede companies and individuals aiding Russia’s contested annexation of Crimea from Ukraine.

DB has agreed to pay USD425,600 and USD157,000 to the US Treasury to settle these cases, where OFAC found the German bank had not deliberately sought to flout these financial controls, but failed to apply correct legally-mandated due diligence.…

THE WORLD has become used to large leaks of confidential data from intelligence services and banks, but the latest dump, from the files of the USA’s Financial Crimes Enforcement Network (FinCEN) may have impacts beyond the unveiling of wrongdoing. Keith Nuthall explains.…

THE UK’s overseas territories are struggling with something of an existential crisis, as they face an effective 2023 deadline for introducing publicly accessible beneficial ownership registers that could undermine their ability to offer confidential financial services to companies and wealthy individuals.…

AS a key part of the food production supply chain, the international can manufacturing and filling industry has largely stayed open, with some exceptions, during the Covid-19 crisis, not just in developed economies, but also in key emerging markets such as the BRICS countries.…

Moscow’s action on 90% demineralized whey powder followed up an announcement made in March 19 by Prime Minister Mikhail Mishustin that from March 20 “for one month, all restrictions on the supply of essential goods, including customs, are cancelled”. This was followed up by a government plan allowing for the easing of sanctions-related restrictions – see http://static.government.ru/media/files/vBHd4YRxpULCaUNNTFLVpPSZbMCIA2Zq.pdf…

THE EUROPEAN Commission has unveiled measures to help food and drink manufacturers and their suppliers cope with the Covid-19 crisis. It has, for instance announced that dairy (skimmed milk powder, butter and cheese), and meat (beef, sheep and goat meat) producers will be paid ‘private storage aid’ to warehouse such products for between two and six months to reduce current excessive supplies.…

With low labour costs and stable local demand, Ukraine has long been one of the favoured bases for major tobacco companies. However, even without taking into account before the disruption caused by the Covid-19 crisis, the market has been in flux in recent months as the new Ukrainian government has made efforts to change tobacco taxation while ramping up its fight against tobacco smuggling.…