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INDIA’S BISCUIT AND COOKIE SEGMENT GROWS FAST DURING COVID-19 PANDEMIC - EXPANSION PROJECTED TO CONTINUE
The size of India’s biscuit and cookie market, valued at USD4.7 billion in 2019 by GlobalData, registered a sudden expansion during the Covid-19 related lockdown, due to a sharp increase in at-home consumption. The industry is growing at a rate of 9.7% annually, according to figures released by GlobalData, with sales moving towards healthier premium categories, such as low sugar digestive biscuits.…
INDIA’S BISCUIT AND COOKIE SEGMENT GROWS FAST DURING COVID-19 PANDEMIC - EXPANSION PROJECTED TO CONTINUE
The size of India’s biscuit and cookie market, valued at USD4.7 billion in 2019 by GlobalData, registered a sudden expansion during the Covid-19 related lockdown, due to a sharp increase in at-home consumption. The industry is growing at a rate of 9.7% annually, according to figures released by GlobalData, with sales moving towards healthier premium categories, such as low sugar digestive biscuits.…
DEUTSCHE BANK FINED OVER USD130 MILLION FOR FOREIGN GRAFT
German banking giant Deutsche Bank is to pay more than USD130 million in the USA for a string of bribes its “business development consultants (BDC)” paid out in Abu Dhabi, China, Italy and Saudi Arabia, in breach of America’s Foreign Corrupt Practices Act (FCPA).…
INTERNATIONAL REGULATORY ROUND UP – EU/UK CONFECTIONERS MUST ABIDE BY COMPLEX ORIGIN RULES TO SECURE BREXIT DUTY FREE TRADE
BRITISH and European Union (EU) confectioners must take care to ensure their products meet new origin rules if they want them covered by the duty free goods provisions of the new EU/UK trade agreement struck on Christmas Eve.
The 1,256-page deal includes complex and comprehensive origin rules, such as for chocolate, which can be deemed made in the EU and Britain if all dairy, eggs and honey used are sourced locally, as well as at least 40% of grains, malt, starches and wheat, (which must also not exceed 30% of costs).…
EU ENERGY EFFICIENCY POLICIES SHARPENED AS BRUSSELS ROLLS OUT ITS ‘GREEN DEAL’ PROGRAMME
WITH Brexit out of the way, as far forging as forging a trade agreement with the UK is concerned, the clear priority of the current European Commission is its European Green Deal policy, which will significantly impact Europe’s energy sector. One strand of this ambitious plan to deliver European sustainability and climate-change neutrality by 2050 is energy efficiency.…
COVID-19 FUELS ADDITIONAL DEMAND IN ALREADY GROWING MARKET FOR RUSSIAN READY-TO-HEAT FOOD PRODUCTS
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.…
BANGLADESH PUSHES FORWARD WITH OVERSEAS DENIM SALES, DESPITE COVID-19 CHALLENGES
WHILE Covid-19 dealt body blows to Bangladesh’s apparel industry last year, one fast-expanding segment fared surprisingly well: denim. While the south Asian country has been the largest exporter of jeans clothing to the European Union (including the UK) for the past few years, as per Eurostat data, last year (2020) it was the largest overseas source of denim to the USA, elbowing out Mexico, according to the Bangladesh Garment Manufacturers and Exporters Association (BGMEA).…
EU LAUNCHES FIRST ‘EUDAMED’ MODULE, BUT MDR/IVDR BOTTLENECK REMAINS
THE EUROPEAN Commission on Tuesday (December 1) launched the first component of its behind-schedule IT system for registering certified medical devices, but an ongoing regulatory bottleneck could render many products impossible to certify for some time.
The first of six modules of its EUDAMED system will assign a ‘single registration number’ (SRN) to each medical device manufacturer, producer of procedure kits, importer, and a European Union (EU)-based representative of non-EU manufacturers.…
GOLD IS IDEAL LAUNDERING VEHICLE, BUT AML OVERSIGHT CONTROLS ARE TOO WEAK ARGUE CRITICS
The international gold trade is worth over USD6 trillion a year, according to the World Gold Council (WGC), but oversight of the supply chain is considered weak by many critics, relying on self-regulation, making it vulnerable to money laundering.
Gold remains scarce and hence valuable: from antiquity until 2019, just 197,576 tonnes has been mined – equivalent to a 21.7 metre cube, according to the World Gold Council.…
EU COUNTRIES DRAGGING THEIR FEET OVER PUBLIC UBO REGISTERS
Many of European Union’s 27 member states appear to have been dragging their feet when implementing a key provision of the fifth anti-money laundering directive (5AMLD) (1), setting up a public ultimate beneficial ownership (UBO) register. The registers should have gone live for the corporate world on January 10, 2020, and two months later on March 10 for trusts.…