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Singapore’s Nutri-Grade system effective in promoting innovation in health beverages
Singapore’s Nutri-Grade nutrient labeling system is proving to be a useful tool in stimulating competition and product innovation in the health and wellness beverages space and curbing sales of unhealthy drinks.
Singapore’s Nutri-Grade nutrient labeling system is proving to be a useful tool in stimulating competition and product innovation in the health and wellness beverages space and curbing sales of unhealthy drinks. Notably, 53 % of Singaporean respondents said that health labeling (information on protein/sugar/fiber/carbohydrate content) displayed on the product packaging often or always influences their product choices*, in a recent survey by GlobalData, a leading data and analytics company.
Tim Hill, Key Account Director at GlobalData Singapore, comments: “Nutrition labeling systems, such as daily intake guidance, warnings, traffic lights, star ratings, and nutrition scores, are intended to help consumers in making informed decisions and transition to healthier foods. These systems grade or rate food and drinks based on the sugar, fat, sodium, and energy content in beverage formulations. The standardised grading systems make use of colours, vectors, and symbols that are easier for consumers to read than the comprehensive back-of-pack ingredient lists.
“Additionally, as these gradings/rankings are defined, they are easier to comprehend than the plethora of health and natural claims that food manufacturers employ. Some of these claims are misleading, for instance, a product with the tag ‘no-added sugar’ can hide the fact that it contains ingredients rich in natural sugars such as fructose.”
Bobby Verghese, Consumer Analyst at GlobalData, notes: “In its war on diabetes, the Singapore Government mandated the “Nutri-Grade” nutritional labeling system for pre-packed beverages and automatic beverage dispensers from December 30, 2022. Moreover, pre-packaged sugar-sweetened beverages with high sugar or fat content are given a low rating and prohibited from being advertised. The authorities plan to extend nutrition labeling to freshly prepared beverages by the end of 2023. Nutri-Grade has reportedly curtailed sales of unhealthy drinks.”
Hill adds: “Nutri-Grade is motivating beverage makers to reformulate existing products and launch new products with less sugar and calories. It fosters competition among brands and labels to step up research and development (R&D) of healthier ingredients and processes, which ultimately provides consumers with a broader choice of better-for-you products. In a recent case, Yakult Singapore’s flagship probiotic drink, Yakult Original, received a low Nutri-Grade D rating due to its high sugar formulation, while a similar product from rival brand Vitagen received a higher Nutri-Grade B rating for its low sugar recipe. Subsequently, in March 2023, Yakult Singapore launched a new variant named Yakult Gold, which it claims contains only up to five grams of sugar per 100 ml, and is fortified with Vitamin D to boost bone and dental health. Yakult Gold thereby received a Nutri-Grade B rating and the Healthier Choice Symbol badge.”
Verghese concludes: “Similar to Singapore’s Nutri-Grade, Malaysia and Thailand have adopted both voluntary Guideline Daily Amount (GDA) labels and the Healthier Choice Logo, while the Philippines has opted for a voluntary GDA system. The Indian food safety agency, FSSAI, has also proposed an Indian Nutrition Rating system akin to Australia’s Health Star Rating system.
“Authorities are striving to plug the loopholes in these rating systems, including the difficulty in comparing different product categories under each system. These diverse nutrient labeling systems across countries will undoubtedly escalate the procurement, R&D, and production expenditure of F&B companies. The adoption of uniform standards across the Asia-Pacific will incentivise F&B manufacturers as they can offset the added costs through economies of scale of selling similar products across borders.”
*GlobalData Q3 2022 Consumer Survey – Singapore with 513 respondents, published in September 2022


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The Eagles have the top-selling album in the country, moving 711,000 copies of “Long Road Out of Eden” (ERC),which was available exclusively in the U.S. at Wal-Mart, Sam’s Club and the band’s website.
A rule change Tuesday by Billboard magazine, which prints Nielsen SoundScan data and is also owned by Nielsen Co., allowed the Eagles to take the No. 1 slot on the top 200 and the Comprehensive Sales chart. Previously, if an album were exclusive to one retailer, it would not be eligible for the top 200, which is widely reported and therefore, the official chart. Radiohead, for example, has not reported sales of its digital release “In Rainbows” and therefore has not appeared on any chart.
“Eden,” meanwhile, posted the second highest sales week of the year.
Wal-Mart released the Eagles sales figures on Tuesday, pushing Britney Spears’ “Blackout” (Jive) down to No. 2 on sales of 290,000. It ends Spears streak of No. 1s; her previous four studio efforts have all topped the chart. Spears is now the only female artist to land her first five albums in the top two.
Josh Turner’s “Everything Is Fine” (MCA Nashville) sold 84,000 in its first week to open at No. 5.
The Backstreet Boys’ “Unbreakable” (Jive) secured the No. 7 slot, selling 81,000, just a few sales behind the second-week take of Robert Plant and Alison Krauss’ “Raising Sand.” A sign of how the music industry has changed, the group’s last album, “Never Gone,” sold 291,000 in its debut sesh in 2005.
The hits collection, “The Best of Andrea Bocelli: Vivere” (Decca), was the only other top 20 debut, selling 68,000 to open in the nine slot.
Other top 50 debuts were: Puscifer’s “V Is for Vagina” (Puscifer Entertainment) selling 27,000 (No. 25); Playaz Circle’s “Supply & Demand” (Disturbing Tha Peace/Jive) moving 26,000 (No. 27); Baby Bash’s “Cyclone” (Arista) blowing out 26,000 (No. 30); Will Downing’s “After Tonight” (Peak/Concord) rolling with 21,000 (No. 37); and Project Pat’s “Walkin Bank Roll” (Koch) sold 17,000 (No. 47).
The multiple-artist soundtrack featuring covers of Bob Dylan tunes, “I’m Not There” (Columbia), sold 9,000 copies to open at No. 95.
Last week’s No. 1, Carrie Underwood’s “Carnival Ride,” dropped to No. 3 on sales of 170,000. Her sales decrease of 68% has been typical for chart-toppers with first-week sales of more than 300,000.
A deluxe edition of the Jonas Brothers’ self-titled Hollywood Records release nearly doubled its previous weeks tally, selling 33,000 copies and rising 24 slots to No. 20.

domain: news


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Syngenta has unveiled plans for the introduction of a new active ingredient. The SDHI fungicide... Read more.
Bayer CropScience announced the introduction of Credenz, the company’s first global soybean seed brand, commercially... Read more.
Syngenta announced the U.S. Environmental Protection Agency (EPA) granted additional registration approvals for the use... Read more.
Brandt, a leading manufacturer of agricultural specialty products, has launched its first app, Brandt Tank... Read more.
Dynamic Weather Solutions Inc. (DWS), a group of Weather Data Scientists who offer software solutions... Read more.
Trimble announced that it is adding another new agronomic service to its Connected Farm solution.... Read more.
Precision Laboratories announces Vertex, a new nonionic surfactant certified by the Council of Producers and... Read more.
As the original innovator of square-by-design fuel trailers, Thunder Creek Equipment brings innovative solutions to... Read more.
Actagro announced that the EPA has approved the federal registration for Elicitore PGR. Elicitore is... Read more.
BASF has announced the development of a new herbicide-tolerant rice system. The Provisia Rice System will... Read more.
A1Microbes uses a unique blend of natural microbes formulated to improve plant production, and restore... Read more.
Montana State University researchers have produced two new varieties of the grain triticale, a... Read more.


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“A contraceptive computer chip that can be controlled by remote control has been developed in Massachusetts.
“The chip is implanted under a woman’s skin, releasing a small dose of levonorgestrel, a hormone.
“This will happen every day for 16 years, but can be stopped at any time by using a wireless remote control.
“The project has been backed by Bill Gates, and will be submitted for pre-clinical testing in the US next year – and possibly go on sale by 2018.
“The device measures 20mm x 20mm x 7mm and will be “competitively priced”, its creators said.”
- Read more: BBC.com
The future is now! (haha)
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Turkey Hill Minit Markets said Thursday that it has completed a deal to acquire two Giant to Go convenience stores from Ahold’s Giant-Carlisle chain.
Turkey Hill is a division of Kroger, Cincinnati. The Giant to Go stores, both located in Lancaster, Pa., opened in 2009 and 2011, respectively, and were part of a test to expand Giant’s brand reach and ability to accommodate “fill-in” shopping trips. Giant officials also looked at the concept as a potential means of penetrating more densely populated markets although it never proceeded beyond the initial two stores.
Turkey Hill said the 4,100-square-foot properties will be rebranded as Turkey Hill Minit Markets and will offer an enhanced product mix including expanded fuel stations, touch screen ordering, and Turkey Hill's extensive beverage and frozen product lines. The stores will also enable customers to save on fuel with the Turkey Hill Rewards Card, including 3 cents-per-gallon savings every day plus opportunities to earn points on most purchases at Turkey Hill toward additional fuel savings.
Settlement on both properties is scheduled for the third week of September. The Fruitville Pike store will close briefly for renovation following the settlement and re-open a few days later, while the Oregon Pike property is expected to re-open in November after remodeling of the interior and fuel service areas.
"We look forward to this exciting opportunity to serve customers with a new level of variety and convenience at these two locations when they re-open as Turkey Hill stores," said Kim Hertzog, public relations manager.
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Check out http://lnkd.in/daily and https://lnkd.in/videos for more news.
GDPR, or General Data Protection Regulation, comes into effect across the European Union today. Among other things, the new regulations on privacy oblige companies to clearly state how they’re storing data.
Walmart will offer training for workers looking to restart their careers after taking time off to care for family. Starting in September, the retail giant's technology unit will offer 16-week internships to roughly 30 workers who have taken at least two years off for caregiving.
Facebook and Twitter are changing the way they display political ads ahead of the coming midterm elections. Facebook has opted for a “paid for” label on political ads in the U.S., while Twitter will use a “promoted (political)” label.
‘I’m sure you won’t have to wait for a couple of months’ for the first fines,” Andrea Jelinek, the European Union’s top privacy regulator, on GDPR.
Daily Top Headlines:
Animation: Lucy Clinch
Script: Katie Carroll, Jessica Hartogs
Art: Jacqueline Zaccor
Producer: Florencia Iriondo


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by Andrew Woodman
As valuations in the tech space continue to soar, comparisons are inevitably drawn with the dotcom bubble era. Asia can point to favorable fundamentals, but it remains to be seen whether the exuberance is justified.
In September, David Zhang, co-founder of Matrix Partners China wrote open letter to his portfolio companies, advising the start-ups to raise capital while they still can and for those who had already received funding to use it sparingly. The message was clear: the good times - sooner rather than later - would come to an end. He added that investments and valuations offered to many of China's start-ups are not only exorbitant but unsustainable.
In his letter Zhang also quoted Bill Gurley, a partner at Benchmark, who days earlier drew comparisons between the environment in Silicon Valley today and the dotcom boom of 1999. In turn, citing Warren Buffet, Gurley had told the Wall Street Journal. "No one's fearful, everyone's greedy, and it will eventually end."
Issues over valuations are not unique to the US, nor China for that matter, where events such as Alibaba Group's $25 billion IPO is said to have helped boost late-stage investment in a string of other companies. File-sharing service Xunlei and group-buying site Meituan.com, for example, have each received rounds of $300 million or more in past 12 months. The former has already gone public; the latter wants to follow suit.
India too has seen some sizeable late-stage rounds, notably Flipkart, which raised $1 billion - the second-largest VC round globally so far this year. Many industry participants agree that Asia, and the rest of the world, is in the midst of a tech bubble, though not all agree on the likely denouement. Comparisons with the dotcom era are tempting, but many maintain they are also fundamentally erroneous.
"I think there is a bit of a bubble, but people always compare today with 1999 or 2000," Wei Zhou, managing partner at Kleiner Perkins Caufield & Byers (KPCB), told the AVCJ Forum in Hong Kong in November. "However, the fundamentals are totally different."
Money, money, money
Taking a broader look at investment activity, AVCJ Research data show more capital is entering Asia's VC space than ever before. So far this year, $14.2 billion has gone into 1,600 deals, $5.7 billion more than 2013 although there are about 200 fewer transactions. Early-stage deals - which are more narrowly defined - are also at record highs. A total of $4.8 billion has been committed region-wide, up from $3.8 billion in 2013. As with the VC space, the number of deals has fallen, from 850 to 730.
The other trend is that larger investment rounds have featured more prominently. Already this year there have been 12 early-stage investments that have surpassed $50 million mark, more than the previous two years combined. But it is not just that VCs are investing more at a later stage; earlier rounds are getting bigger as well.
According to Preqin, in China the average Series C round totals $54 million this year, compared to $26 million in 2013. Meanwhile, the Series D round average is $84 million, up from $76 million. This is a global trend, but one of which Asia is very much a part. Of the 10 largest VC rounds that have taken place globally this year, six were in Asia: India's Flipkart; China's Beijingmate, Xunlei, Meituan.com and Youxinpai; and Australia's Campaign Monitor.
Scott Kupor, a partner and COO at Andreessen Horowitz, describes a fundamental shift in the venture capital ecosystem in the US where start-up are raising a lot more capital via private markets than they did 15 years ago. He notes that 90% of the largest venture capital rounds in history have happened in the last five years.
"The bubble analogy does not do justice to the market we are in right now - that oversimplifies things because something is changing and something is happening in the market from a valuation perspective," says Kupor. "The competitive opportunity and the market opportunity are now so great that companies are raising more capital earlier on in their life-cycle than they were to take advantage of these opportunities."
In the US, Kupor points to a number of key differences between the venture-backed companies of 2013 and those of 1999. First, the median company age at IPO has increased from four years to nine. Second, median sales at the time of IPO have also increased from $12 million to $106 million today. Third, less money is being raised through IPOs. The proceeds of US tech IPOs came to $17 billion in 2013, less than a third of the $55 billion raised in 1999.
This shift in value accretion among start-ups from the public markets to the private markets is also visible in Asia. Part of the background to this is that market opportunity for internet-based businesses that make up a large proportion of VC activity has vastly improved. David Yuan, a partner and managing director with Redpoint Venture, points out that the migration of internet users from desktop to mobile, and greater mobile adoption in emerging economies are just two factors that have dramatically changed the landscape.
"All of a sudden your addressable market has increased from tens of millions to billions - the market is so much bigger," he says. "Another trend is that in China, and the rest of Asia, we are seeing a lot of online-to-offline (O2O) models that are disrupting a very large tradition of offline businesses in a very significant way.
KPCB's Zhou adds that users have also changed. Whereas the first generation failed to understand the value of the internet and hence was less willing to pay, younger mobile-enabled users are much more likely to pay for quality services and content. Advances in technology also mean it costs less to start a business - this ever-growing addressable global market has become far more accessible with fewer resources.
On the one hand this has opened the door to angel investors writing small checks. However, the flipside is that these start-ups also have the potential to scale up quickly, especially in a competitive market. The result is that demand for more capital soars.
"These funded companies can grow very fast," says Juxin Foo, a partner with GGV Capital. "Xiaomi is a good example. It is less than five years old but it's selling more than 60 million smart phones per year. It's growing fast and we have to take that into account. I think the valuation is a reflection of mobile disruption."
Xiaomi received seed funding from Morningside Technologies and Qiming Venture Partners in 2009 and launched the following year. A Series A round of $41 million came in late 2010 and a Series B of $92 million the following year. DST Advisors led a $216 million Series D in 2012 that valued Xiaomi at $4 billion. One year and one round later, the company was worth $10 billion and is said to be in talks over further funding that would value the business at $50 billion.
To put that in context, Lenovo Group has a market capitalization of $10 billion, while Japanese electronics giant Sony Corp. is valued at around $20 billion.
Are such eye-watering valuations for relatively young companies justified? One perspective is that expectations among Chinese entrepreneurs are higher, based on what they see happening elsewhere in the marekt. However, the quality of founder is also changing with a new generation of entrepreneurs spinning out of successful internet companies.
Xiaomi is the stand-out example. The company's co-founder is Lei Jun, a member of the group that set up Chinese software developer Kingsoft Corporation in the 1990s. He he has helped develop a string of start-ups, including social networking site YY (now listed in the US), mobile browser UCWeb (sold to Alibaba), and Xiaomi. Equally, Xing Wang, CEO and co-founder of Meituan, cut his teeth with VC-backed social networking sites Xiaonei and Fanfou.
But large pools of capital also gravitate towards sectors that have demonstrated traction. Nowhere is this more evident than in India's e-commerce space, which attracts the lion's share of VC investment entering the country.
"Valuations seem to be rising fastest in e-commerce, where companies are being valued on revenue growth alone on the assumption margins and unit economics will rise," explains Manik Arora, a founder and managing director with IDG Ventures India. "It remains to be seen the speed at which these margins rise in India."
An interesting characteristic of these large rounds is they not just populated by traditional VC investors. Indeed, such is the size of some of these investments that VCs are raising "opportunity funds" - vehicles dedicated to follow-on investments in existing portfolio companies that have grown beyond the size remit of a standard VC fund - in order to participate, or simply sitting on the sidelines.
Flipkart's recent $1 billion round included the late-stage investors like DST Advisors investing alongside return backers Accel Partners and Tiger Global. Meanwhile, when rival online retailer Snapdeal raised $100 million in May at a princely valuation, the consortium featured Temasek Holdings and Hong Kong-based hedge funds Myriad Asset Management and Tybourne Capital Management also participating.
"At one level the venture market lacks depth and the private equity investors in India do not have a very evolved view of tech investing so that space is being occupied by folks who do public and private investing," says Sanjeev Aggarawal, co-founder of Helion Venture Partners. "Some of them see these deals as pre-IPO and some are trying to get additional alpha in their portfolio so they want to do some private."
Strategic investors also increasingly active in larger rounds, with SoftBank the prime example. The Japanese telecom giant - which is sitting on a paper gain worth billions thanks to an early investment in Alibaba - committed $627 million to Snapdeal in October and has said it will remain a prolific investor in Asian start-ups. Around the same time it pumped $210 million into Indian online taxi-booking platform Ola.
The Chinese internet giants - led by Baidu, Alibaba and Tencent Holdings - are also aggressively diversifying their businesses, buying stakes in start-ups or in some cases acquiring businesses outright. It all contributes to the driving up of real or expected valuations.
"All those guys are very paranoid. They see the stories about Yahoo and Sina and they know if they don't move forward, they go backward," says J.P. Gan, a managing partner at Qiminig. "That is why they raise so much money and they don't hesitate in pulling the trigger."
The problem is that, with so much capital looking for deals, are investors taking time to separate the wheat from the chaff? Clearly not. While DST might say Flipkart warrants a lofty valuation because it has emerged as a leader within its market, much of the wave of money entering seed rounds - and therefore helping to pump up valuations further down the chain - is being invested indiscriminately.
"I think with the surging inflow in dollars and capital, there are a couple of negative effects that we have to cognizant of," says Redpoint's Yuan. "Companies are raising more money, arguably more than they need, and that is encouraging negative behavior in terms of getting the right product and getting the right marketing strategy."
In short, companies that should not be funded are getting funded. Yuan adds that this is particularly the case in markets like China that see a proliferation of copycats. If one business model gains traction and then suddenly dozens of others are getting funded around it, it creates a level of competition that might not be justified by the commercial opportunity. And so costs go up.
Should the VC industry be concerned? The adage that has been floated time and again by industry participants is that a rising tide lifts all boats. Matrix's Zhang also pointed out in his letter that a surplus of capital will inevitably leads to indiscipline. This is often manifested in due diligence being neglected as investors race to deploy capital.
While the market is very different to what it was 15 years ago, Andreessen Horowitz's Kupor stresses that plenty can still go wrong and investors should remain vigilant - there are still pockets of exuberance in market and one jolt might cause cracks to appear.
"There is still a significant amount of macro shock risk to the global market that certainly could change things," warns Kupor. "There are macro trends that - despite all the wonderful activity we might see in terms of new company formation on the tech side - could cause valuations to change significantly in a short period of time."


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Ford launched the new 2014 Endeavour facelift in India for Rs 19,83,898 ex-showroom Delhi.
The 2014 Endeavour facelift sports a new front fascia, encompassing muscular front grille, revised headlamps, fog lamp bezel, a new air dam and a skid plate for the adventurous looks. On the top of all, Ford had placed a blind spot passenger-side mirror for max visibility.
Available in three variants, 2.5 Liter Duratorq TDCi 4×2 Manual Transmission for Rs. 19,83,898; 3.0-Liter Duratorq TDCi 4×2 Automatic Transmission (5 speed) for Rs. 21,28,119; and 3.0-liter Duratorq TDCi 4×4 Automatic Transmission for Rs 23,06,302; prices ex-showroom Delhi.
The launch event happened in Chandigarh. Nigel Harris, President Ford India was also present at the venue.
Launching the new model, Nigel Harris, President Ford India, said, “At Ford, we are committed to delighting customers through continuous improvements in our products. Endeavour is a trusted nameplate and holds a special place in Ford India’s product portfolio. It has remained a vehicle of choice for customers who desire a dependable, muscular, rugged yet comfortable and safe SUV. The 2014 Ford Endeavour has been made more stylish, dynamic and comfortable while retaining its core DNA of an all-terrain vehicle.”
On interiors, the 2014 Endeavour comes loaded with new leather seats and interiors lining, advanced SATVNAV with Navigation Bluetooth audio control and reverse parking camera.
“The 2014 Ford Endeavour is for enthusiasts who are outgoing, adventurous and believe in exiting their comfort zones to take the road less travelled, yet never compromise on their comfort. This is an extremely capable machine, and we are confident it’ll add to the appeal of our trusted nameplate,” Nigel Harris added.


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The coronavirus pandemic probably will have a serious effect on the food supply of Romania because of the country’s high dependency on imports and the current decline of international trade. President of the Eco Ruralis farmer advocacy association, Miklós Attila Szőcs Boruss spoke about what to expect with penzcsinalok.transindex.ro.
Generally, we can say that the right direction for Romania would be – from a social, sanitary and environmental point of view – to support the smaller ecological farms. However, the government’s first major injunction relating to the food supply – at the time the state of emergency announcement – was to close farmers’ markets. Fortunately, lawmakers quickly changed their minds and after a couple of days, the markets reopened. According to Szőcs Boruss, the government backed down because of pressure coming from his and other associations supporting farmers.
Pork could reach price level of salmon
There may be serious problems with the supply of pork after tens of thousands of pigs had to be slaughtered in Romania because of the African swine fever (ASF), and 70% of Romania’s pork demand is fulfilled through imports, mainly from Germany, Spain, Poland and Hungary. Due to the current epidemic, these countries will most probably suspend their exports soon to be able to serve their own domestic needs. According to Szőcs Boruss, if this really happens, it will cause a massive price increase in Romania, and the price of pork might even go up to the same level as salmon.
He says that this whole situation also proves how mistaken the draft act is, as it is about to ban small-scale farmers in Romania from raising pigs. According to Szőcs Boruss, just as with vegetables and cereals, small-scale farmers also produce higher-quality pork than industrial-scale farms.
Imported milk on the shelves
In the case of milk and dairy products, Szőcs Boruss doesn’t see any possible supply chain problems since there is massive overproduction of these products across all of Europe. There could, however, be a problem with distribution. People should buy local, not imported, products, but this is very difficult because supermarket shelves are filled almost exclusively with imported goods or products made from imported raw materials.
For example, there is a dairy in Szeklerland that processes cheaper Polish milk instead of local milk, even though there is plenty of supply locally. Local farmers are in a very difficult situation due to the strict EU regulations, which they are not able to live up to, primarily because they do not have the required cooling systems. Thus, multinational companies pay them around 80 bani/liter (17 eurocents/liter) for their milk and then sell it to their customers for eight or nine times more. He also added that there are countries – for example, Spain and Italy – that have asked for and received exceptions from these strict rules from the EU.
Bread prices could also increase
The domestic grain yield is sold abroad at the Romanian grain stock exchange, while Romania’s domestic needs are fulfilled through imports. And because the biggest European exporter countries – Italy and Ukraine – have just recently announced they will slash their grain exports, the price of bread in Romania will most probably go up in the near future.
But of course, all these projections might be negated by measures taken during the state of emergency, for instance, if the government freezes food prices.
Solution: shorter supply chains during “peacetime,” too
Szőcs Boruss’ conclusion is that Romania should restructure its food production and shorten its supply chains by involving both local farmers and customers into the decision-making process. This would also be a suggestion during “peacetime,” but may be essential in exceptional situations like the one we are living in now, he said.
Title image: Bread price in Romania could go up because domestic needs are fulfilled through imports. (Photo: zimdeli.net)


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Pizza Hut Made Their Own Perfume
Pizza Hut’s director of marketing, Beverly D'Cruz noted that the perfume is more about entertainment than the aroma. “We discovered it was hard to match the smell of freshly baked bread, but it smells somewhat close,” she said. One could also spray the perfume around a room to make it smell like pizza, she added.
Aren't they aware that anyone who would possibly want to smell like Pizza Hut probably already does? This product is basically designed for people who want to smell like Pizza Hut, but want nothing to do with the actual pizza they make. That's like making a condom specifically for people without genitals. Don't go down the same road I did, Pizza Hut. You think you're getting into a marketing niche that no one else is taking advantage of and you soon realize you're bankrupt and people without genitals don't need condoms. Well, technically they do, but they get them special made. They're not made of Seran wrap, scrunchies, and neon 80's snap wristbands like how I made them.


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Where do you start with Pokemon? Here's a great place.
With hundreds of Kickstarter projects going live each week, we pull just a few…
Brilliant news for Brilliant Stars
All in a week on Kickstarter!
The future is coming, and man, it’s heavy
What's new on Kickstarter on Wednesday 27th October 2021?
A Halloween horror special – with an exclusive scenario from Vaesen: Mythic…
Plus, a brand new issue of the magazine


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Through its Dallas division, The Kroger Co. has rolled out a new service to supply local restaurants.
Called Kroger Restaurant Supply, the offer connects restaurateurs with fresh food at wholesale prices, the Kroger Dallas division said yesterday. Kroger noted that the service, now available in the Dallas-Fort Worth (DFW) metro area, is designed to provide restaurateurs an alternative to ordering large quantities with “highly variable” prices and requiring deliveries on a schedule. defined.
Kroger Restaurant Supply offers competitive, non-fluctuating wholesale pricing; options to purchase items by the case or individually; and seven-day delivery, according to Kroger. The company said the new service makes it easier for local restaurants to keep customers’ favorite items on the menu.
“Running a restaurant has always been difficult, and today it feels like it’s harder than ever,” said Jay Scherger, director of the Kroger Technology & Digital/E-Commerce Accelerator at the supermarket giant. Cincinnati-based, in a statement. “This new service will bring our fresh assortment directly to regional businesses, all at consistent pricing, product availability and delivery rate they can rely on.”
Potential customers for Kroger Restaurant Supply include regional restaurants, bakeries and catering businesses, Kroger said. The service offers free next-day delivery on all orders of $250 or more, and businesses can order before midnight and receive next-day deliveries seven days a week.
“Supply chain bottlenecks are affecting nearly every restaurant in the country,” commented Corey Mobley, executive director of the Texas Restaurant Association’s North Texas Region. “This opportunity comes at just the right time for small independent restaurants. We are proud to work with Kroger to strengthen our industry.
Restaurants and other catering customers can place their first order on kroger.com/restaurantsupply. The website says the service offers a “wide range product assortment” and is geared towards smaller, more frequent orders, offering “a flexibility you won’t find with other comparable food vendors.” Businesses must submit an EIN and Texas State Tax ID to begin an order.
“Like our resident customers, we know our business customers want options and solutions that deliver fresh food, consistent pricing and reliability,” said Keith Shoemaker, president of Kroger Dallas Division. “When our DFW restaurants think of food, we want them to think of Kroger. We look forward to delivering this new offering and expanding our global grocery ecosystem.”
Overall, the Coppell, Texas-based Kroger Dallas division has more than 15,000 employees and operates 109 retail food stores.


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Survey: Social commerce comes of age
Although social commerce is still relatively new, it appears to be quickly gaining acceptance with consumers.
According to a new survey of more than 1,500 U.S. consumers from Citi Retail Services, social commerce, or the concept of using social media to drive sales, is evolving and growing at a faster pace than all other online channels. And shoppers are buying in.
A total of 58% of respondents said that they’re following retailers on social media sites, the most popular being Facebook, followed by Twitter, Instagram and Pinterest. And they’re not just following retailers – they’re actively interacting with retailers via these channels.
The study showed that 62% have interacted with a retailer by “liking” a post; 40% have commented on a post; and 31% have reposted content from a retailer on their personal feed.
When it comes to the next step of the purchasing process – thinking about making a purchase – respondents said that the following social media apps/sites are influential in their decision of what retailer(s) to give their business to: Facebook (35%), YouTube (25%), Pinterest (19%), Twitter (15%), Instagram (12%) and Snapchat (5%).
And as it relates to taking it a step further and actually completing a purchase via social media channels, the tide seems to be turning with 60% of respondents saying they would be open to purchasing through social media.
Consumers already digitally “live” on social media, using it as a preferred channel for routine Web access. By making it easier for customers to research, find and purchase products directly from leading social media sites, retailers are adapting to the latest expectations for a holistic omnichannel experience.
Jordan’s Furniture’s new store will put customers on the roaps—literally
Jordan’s Furniture, known for its larger-than-life stores that combine retail with all manner of entertainment, is outdoing itself in its next location.
The retailer is building a 192,500 sq.-ft. store in New Haven, Connecticut—its first in the state—that will feature a massive indoor roap course, billed as “IT Adventure Roaps Course,” that includes two 60-feet high ropes courses. Jordan’s is devoting 20,000 sq. ft. to the attraction.
The courses incorporate four separate levels and over 100 activities like zig zag swinging beams, crisscross angle rope ladders, cargo nets, bridges, plank-walking, a cat walk and a 48-feet high free fall jump.
There will also be four 200-feet long zip lines that are 48-feet high. Visitors will be able to zip over a 1,000-nozzle water show with state of the art lights, sound and music, choreographed to 45-feet high water. The light and sound show will be created by Clair Solutions, the company that designed Radio City Music Hall, The Grand Ol Opry and the Michael Jackson Tour.
Jordan’s will offer a smaller version of the ropes course for children under 48" tall. Parents can walk alongside or watch.
"Be prepared to be wowed!" said Eliot Tatelman, president and CEO, Jordan’s Furniture.
The New Haven store, scheduled to open this December, will feature the largest entertainment area of any Jordan’s stores to date. The retailer currently operates five stores (three in Massachuseets, one in Rhode Island and one in New Hampshire) and each features its own unique brand of entertainment, from IMAX theaters to laser water shows to full-service restaurants.
Amazon ends consumer-facing service
Amazon.com is famous for launching new services and solutions at a dizzying rate, but the online retail giant is quietly preparing to close one down.
In an announcement posted on the Amazon Local daily deals site, the retailer says it will stop deals on the site and app as of Dec. 18. Amazon Local will continue business as normal until that date. Amazon Local purchase vouchers will remain valid for five years from purchase date as required by law in all 50 states.
Deals offered on the main Amazon site, such as Deal of the Day and Kindle Daily Deals, will continue unaffected.
Other daily deals sites have also been hitting hard times lately. LivingSocial, which Amazon partially owns, recently laid off 200 employees. In September, Groupon laid off 1,100 employees and said it would end its business in some foreign countries.


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Chinese website Baidu arrives in Brazil
Chinese website Baidu (http://www.baidu.com/) will start operating in Brazil but as yet will not provide its search engine to Internet users, the website’s marketing director for Brazil, Felipe Zmoginski said.
At a presentation in Sao Paulo, Zmoginski said that the Portuguese-language search engine already existed but that it was undergoing tests and added that whilst it has yet to be launched the company plans to present other products.


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Home food delivery business My Food Bag has taken out the Excellence in Innovation Award in the Central division of the Westpac Auckland Business Awards for 2014.
My Food Bag says that the award recognises its innovative consumer offering and implementation of its home food delivery service.
“My Food Bag is a unique, one-of-a-kind product and service. From our complex e-commerce website and the intellectual property involved in creating our recipes, to our cold storage and logistical processes which enable us to deliver fresh ingredients and recipes to households nationally – My Food Bag is a revolution in innovation,” says My Food Bag Chair Theresa Gattung.
The award comes a week after My Food Bag's recognition at the NZ Deloitte Fast 50 Awards, where it was named Rising Star.
My Food Bag also won a Judges’ Choice award at the 2014 TVNZ NZ Marketing Awards in August while in October CEO Cecilia Robinson took out the Business and Innovation category at the annual NEXT Woman of the Year Awards.
My Food Bag was developed by 2013 EY Young Entrepreneur of the Year Cecilia Robinson together with Nadia Lim and prominent business leader Theresa Gattung. The concept is based on the home delivery of food parcels containing all the ingredients needed for a week’s main meals together with simple, healthy and delicious recipes.
It was originally launched in Auckland in March 2013 and expanded to Hamilton in June and Wellington in August last year. In June 2014 the service crossed the Tasman and is now operating in Sydney and Melbourne. It has also recently begun serving Tauranga, greater Waikato regions and Christchurch.
Currently My Food Bag has 10,000 subscribers and has delivered more than 2.5 million meals in New Zealand and Australia since it began business in March 2013. The company employs 40 staff and turns over more than $30 million a year.


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Chip maker Intel will appeal the European Commission's decision to fine it €1bn for practices which it said are an abuse of its market dominance.
These practices, claims the EC, include offering rebates to prevent businesses supplying or buying products from AMD and as a result undermine it.
This morning Neelie Kroes, European commissioner for competition policy, announced the fine and outlined the reasons for finding against Intel, which it believed had continued to abuse its market position.
Bruce Sewell, Intel general counsel, said Intel "takes great exception to the conclusions accepted in this decision."
Sewell said the fine is arbitrary and does not take into account any losses for AMD, which is the only complainant. He questioned how Intel's business activity could put AMD out of business because AMD's complaint was eight years old and AMD is still going.
He said the EC alleges that Intel used rebates to prevent people buying or supplying products from AMD by offering low prices in return for buying Intel. But Sewell said Intel "never expected customers not to buy AMD products".
He said Intel's practice of offering lower prices is "the essence of competition" and not anti-competitive behavior. "We believe consumers benefit from lower prices."
Intel will take a bank guarantee for the fine but not actually pay it until it has had its appeal heard.
Kroes at the EC said: "The Commission has ordered Intel to cease the illegal practices immediately, to the extent that they are still ongoing, and to refrain from these and any equivalent practices in the future. The Commission will be monitoring Intel's compliance closely."
"Given that Intel has harmed millions of European consumers by deliberately acting to keep competitors out of the market for over five years, the size of the fine should come as no surprise."
"The Commission Decision contains evidence that Intel went to great lengths to cover-up many of its anti-competitive actions. Many of the conditions mentioned above were not to be found in Intel's official contracts," added Kroes.


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Dr. Raghupati Singhania Conferred the ‘Lifetime Achievement Award 2022’ by PHD Chamber of Commerce and Industry : Rashtra News
Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Limited, was conferred the prestigious ‘Lifetime Achievement Award 2022’ at PHDCCI’s 117th Annual Session 2022, celebrating India’s Pursuit for Self-Reliance. The acclaimed award was presented to Dr. Singhania by Shri Om Birla, the Hon’ble Speaker of the Lok Sabha.
Dr. Rahupati Singhania receiving the Lifetime Achivement Award by PHDCCI by Shri Om Birla, Honble Speaker, Lok Sabha
The event felicitated industry stalwarts who have transformed society and made outstanding contributions & impact towards improving the community and have set benchmarks in entrepreneurship as well as demonstrated exemplary leadership qualities.
As a prominent industrialist, Dr. Singhania being highly Tech Savvy with strong focus on innovation, has led transformation in each of his businesses. It was his leadership & innovation zeal that led JK Tyre to pioneer radial technology in India way back in 1977.
On receiving the award, Dr. Raghupati Singhania, Chairman & Managing Director, JK Tyre & Industries Ltd., said, “I am grateful and honoured to receive this prestigious award. I am thankful to PHD Chamber of Commerce & Industry and jury members for conferring this honour on me. The award is a testament to JK Group’s efforts towards serving the society with innovation and collaborative efforts. I would also like to thank my colleagues and industry partners for their support in our successful journey.”
Dr. Singhania was also recently conferred the ‘Inspiring CEO of 2022’ award at The Economic Times CEO Conclave 2022 in recognition of his substantial contributions.
About JK Tyre & Industries Limited
The flagship company of the JK Group, JK Tyre & Industries Ltd. is among the world’s top 25 manufacturers. Pioneers of radial technology, the Company produced the first radial tyre in 1977 and is currently the market leader in the Truck Bus Radial segment. The Company provides end-to-end solutions across passenger vehicles, commercial vehicles, farming and Off-the-Road as well as two and three-wheeler segments. A global force, JK Tyre is present in 105 countries with more than 180 global distributors. The Company has 12 globally benchmarked ‘sustainable’ manufacturing facilities – 9 in India and 3 in Mexico – that collectively produce around 32 million tyres annually. The Company also has a strong network of more than 6000 dealers and 650+ dedicated brand shops called Steel Wheels and Xpress Wheels.


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Boyd Gaming executives sell $7.9 million in stocks
With the company's stock reaching an all-time high of $59.25 in April, three top executives at Boyd Gaming sold 145,701 shares of Boyd stock for $7.9 million.
Shares of Boyd Gaming have more than tripled since the beginning of 2004. Boyd Gaming is the owner of Sam's Town Casino in Tunica,
The sales May 16-19 were made during a week in which Boyd's (BYD) stock traded up more than 8% to a peak of $55.75.
Landau sold 70,701 shares worth $3.9 million on May 19, his first sale since selling 29,300 shares on April 27. Also selling was director Robert Boughner, who sold 41,667 shares valued at $2.2 million. Boughner last sold 83,533 shares on Nov. 3.
Senior Vice President Marianne Johnson sold 33,333 shares for $1.8 million on May 19. The sale represented her first since selling 44,134 shares on Dec. 3. Each of the officers acquired the shares they sold through the exercise of options.
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PAKISTAN: KIK agrees compensation for fire factory victims
By Leonie Barrie | 11 January 2013
German discount retailer KiK has agreed to pay an initial $1m in compensation for the victims and families of workers who died and were injured last year in a fire at a Pakistan factory used to make its clothing.
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Apple reports 7.2% rise in quarterly revenue
Better than expected sales of its iPhones help bolster performance ahead of next generation iPhone’s arrival
Apple Inc reported a 7.2 per cent rise in quarterly revenue on Tuesday, buoyed by better-than-expected sales of its iPhones ahead of the smartphone’s 10th-anniversary edition launch later this year
Apple Inc reported a 7.2 per cent rise in quarterly revenue on Tuesday, buoyed by better-than-expected sales of its iPhones ahead of the smartphone’s 10th-anniversary edition launch later this year.
The company said iPhone sales rose 1.6 per cent to 41.03 million units in the third quarter ended July 1st, above analysts’ average estimate of 40.7 million units, according to financial data and analytics firm FactSet StreetAccount. Apple sold 40.4 million iPhones a year earlier.
Many customers wait for Apple to launch its new smartphones before deciding on upgrading or replacing their current devices, which usually results in iPhone demand tapering in the months before a release.
The company forecast total revenue of between $49 billion and $52 billion for the current quarter, while analysts on average were expecting $49.21 billion, according to Thomson Reuters I/B/E/S.
Analysts on average expect the company to sell 45.55 million iPhones in the current quarter, according to FactSet. Apple sold 45.51 million iPhones in the year-ago quarter.
Apple’s fourth quarter generally includes first-weekend sales of the company’s latest devices.
The company’s net income rose to $8.72 billion, or $1.67 per share, in the three months ended July 1, from $7.80 billion, or $1.42 per share, a year earlier.
Revenue rose to $45.41 billion from $42.36 billion in the quarter, typically the company’s weakest. Analysts on average had expected $44.89 billion.


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British chip designer ARM announced a new 64-bit instruction set designed to support the arrival of the ARM compatible Windows 8.
Dubbed ARMv8, the architecture builds on the ARMv7 used in the current generation of chips such as the Cortex-A9, adding 64-bit instructions and virtual addressing.
Microsoft strategic silicon architectures manager K.D. Hallman welcomed the 64-bit ARM, adding: "ARM is an important partner for Microsoft, we look forward to witnessing this technology’s potential to enhance future ARM-based solutions."
It’s not just new ARM-powered desktop computers and tablet devices that are expected to benefit from the new ARMv8 architecture. In a joint release it was revealed that AppliedMicro will move to create cloud servers based on the new ARM architecture.
Citing growth in data centers, driven by social networking and cloud computing, AppliedMicro processor manager Vinay Ravuri said: "The ARM 64-bit architecture provides the right balance of performance, efficiency and cost to scale to meet these growing demands."
Actual processors based on the ARMv8 architecture will only be announced next year. The announcement appears to herald another battlefront between desktop CPU vendors Intel and AMD and CPU IP license outfit ARM.
While Intel and AMD have themselves struggling to gain a foothold in the ARM-dominated mobile business, ARM is apparently willingly to take to fight to the desktop and server markets too.
An interesting consequence could be that the desktop and server markets of the future may not merely feature one or two main processor brands but a great many.
ARM licenses processor IP to third party chip designers who spin up competing models integrating other features such as graphics and mobile radios.
Nvidia has already announced that the firm intends to market a chip based on ARM CPU cores in time for the arrival of the ARM-compatible Windows 8 operating system.
Although when Nvidia made that announcement it was expected that some degree of legacy Windows application would be provided for Windows 8 ARM but Microsoft later confirmed this will not be the case.


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Looking for a plant-based sample menu? The Center for Nutrition Studies has put together some tasty recipes for you to explore on our website.
Center for Nutrition Studies
Eating You Alive is a new documentary revealing the truth behind why Americans are so sick. Featuring leading medical experts and researchers (including Dr. T. … Continued
For more information visit www.eatingyoualive.com.
For many years I have known and very much appreciated the pioneering work of Dr. John McDougall on the whole food, plant-based dietary lifestyle.
The Simple Way to Lose Weight and Reverse Illness, Using a Whole-Food, Plant-Based Diet
High yield agriculture has bred the flavor out of food, while flavor companies manufacture flavor compounds in factories. Excerpt from The Dorito Effect.
Dr. T. Colin Campbell was invited to speak at the European Parliament in Brussels to address the health promoting evidence for diet and nutrition.


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KARACHI: The new bilateral swap agreement (BSA) between People’s Bank of China (PBC) and the State Bank of Pakistan (SBP) would reflect strengthening trade and investment relations between the two countries.
Senior vice Chairman of Pakistan China Business Council (PCBC) Javed Khalili said BSA between SBP and PBC has been implemented in May 2013 but he regretted that it was just implemented by order and not practically implemented.
This agreement would be practically implemented when the State Bank would allow the traders to open their account in Chinese currency (RMB).
Mazhar Ali Nasir acting President of Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and Chairman of PCBC of FPCCI in a meeting with the Ma Ya Hao Consul General of China in Karachi said the BSA would make it easier to the traders of both countries to settle cross-border trade and direct investment in RMB.
The Consul General appreciated the efforts of FPCCI in promoting the bilateral relations between both the countries and expressed his gratitude to the pivotal role of PCBC of FPCCI for enhancing and strengthens the bilateral trade relation.
He informed for the last several years China has implemented policies to promote the international use of its national currency RMB for which we have signed BSAs with different countries.
He said there was need to give awareness to the business community of both the countries through difference seminars and convention.
He assured his best cooperation for developing long lasting relations amongst the business community of both the countries.
Secretary General of FPCCI M A Lodhi presented a brief picture to Consul General about the structure and working plan of FPCCI.
Khurram Sayeed vice President FPCCI said the trade between China and Pakistan was increasing day by day and FPCCI was actively engaged in several activities in China through different trade fairs and exchange of trade delegations which were organised throughout the year in China.
FPCCI has two offices in China one in Chengdu and the other is in Kunming and now we are planning to open another office in Shanghai for which FPCCI seeks necessary support and cooperation of the Chinese Consulate.
He informed FPCCI was planning to organise a single country exhibition of Pakistan in China. The Chinese Consul General assured him for full support in this regard.
LAHORE: Many textile mills are closing down one shift and laying off textile workers in Punjab due ...


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Lithium Iron Phosphate Is Non-Toxic, Heat-Tolerant and Generally Safer for In-Home Installations than Lithium Ion
San Diego, CA, March 2, 2021 – NeoVolta Inc. (OTCQB: NEOV) – NeoVolta home energy storage systems are equipped with lithium iron phosphate (LiFePO4) battery chemistry. These cells are non-toxic, non-combustible, and more stable during overcharging or short-circuit conditions, allowing them to withstand higher temperatures.
Many energy storage competitors use a battery chemistry called lithium ion, which is mainly used in electric vehicles and consumer electronics due to its low cost, light weight and high energy density. However, these batteries pose a serious risk of thermal runaway. This is where a sudden increase in battery temperature causes a chain reaction that leads to total battery failure and possible combustion. Lithium ion battery fires are an ongoing problem for electric vehicles, recycling plants and e-cigarettes, among others.
Lithium ion has also been shown to have safety issues in home energy storage systems. One solar battery manufacturer recently launched a recall after five reports of “thermal events” where its lithium ion batteries caused property damage. The company explained that cells from specific lots were at risk of overheating, which could lead to fires and dangerous smoke.
NeoVolta’s systems use the safe alternative: lithium iron phosphate. This chemistry provides superior thermal stability and reduces the risk of combustion while extending the life of the battery. Lithium iron phosphate is also clean and does not contain cobalt or other toxic substances.
“Most people wouldn’t choose to put a toxic fire hazard in their home,” said NeoVolta CEO Brent Willson. “Why do that with a storage battery? Our smart energy storage systems are engineered with a focus on safety.”
NeoVolta also combines safety with performance. Its flagship NV14 energy storage system has a very high storage capacity of 14.4 kilowatt-hours, expandable to 24.0 kWh with the optional NeoVolta V24 battery—without the expense of a second inverter. NeoVolta’s inverter discharges 7.7 kilowatts of instantaneous power, more than most competitors in its class. This combination of high storage capacity and high-power output maximizes the NV14/NV24’s capability for backup power and utility savings.
For its safety, performance and compatibility with any solar system, new or existing, NeoVolta NV14 has been named one of Solar Power World’s top storage products two years in a row.


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3 DJIA Stocks Riding the Market Wave
The Dow Jones Industrial Average (NYSE:DIA) is up today 1.16% and stands at 11548. The large stocks below are among the notable performers today.
Walt Disney (NYSE:DIS): Caris analyst David Miller upgraded Disney from neutral to buy. This upgrade was based on what Miller considered to be Disney’s low valuation. The stock is up 4.16%.
Investing Insights: The Dow’s Fantastic 6 Stocks.
Wal-Mart (NYSE:WMT): Bill Simon, of Wal-Mart’s U.S. operations reported that positive same-store sales is up for a third straight month, after declining for the previous nine. Wal-Mart is now up 2.03% today.
Cisco (NASDAQ:CSCO): Analyst Eric Savitz believes Microsoft’s (NASDAQ:MSFT) effort to bring television to the Xbox marks the beginning of the end of cable boxes. Cisco is one of the companies that provides such cable boxes. After being stable all week, Cisco is up 1.59%.
Investing Insights: Dow Jones 30 Index Stocks: Upcoming Earnings Preview.


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State denies cheese company license over health concerns
A local cheese manufacturer is no longer making its products until it comes into compliance with Michigan's dairy laws.
On July 20, Salvador Torres, manager of Torres Hillsdale Country Cheese, LLC had an informal hearing with the Michigan Department of Agriculture for the opportunity to demonstrate the business was following the law.
Jennifer Holton, spokesperson for the MDA, said Torres has not demonstrated he has a corrective action plan in place for the facility at 6211 Dimmers Road in Reading.
"He was provided guidelines to ensure that a safe, wholesome product is produced at his facility such as floor and drain repairs, implementing good manufacturing practices to prevent contamination of the product," she said.
A Freedom of Information request is pending for the results of the hearing.
The MDA will not renew the company's license, which expired June 30, until the facility is brought into compliance, she said.
Holton said the FDA has been involved extensively with the investigation, sampling and recalls.
Michael Herndon, spokesperson for the FDA, said the MDA has the lead in this investigation and it is FDA’s understanding that MDA will be doing everything within its authority to prevent the company from producing products until the problems were identified and corrected.
Herndon said the FDA’s district office worked the company to conduct a recall of all its affected products. Since MDA has taken that action, FDA is not planning anything further at this time.
Beginning in March, the company began issuing recalls of its soft, Mexican cheeses due to potential Listeria contamination after an inspection by the MDA.
Further recalls of other cheeses ensued in April and June after another sample was found to be positive with the disease after a May 26 inspection by the U.S. Food and Drug Administration.
To her knowledge, Holton said there were no reports of illness.
Subsequently, the MDA issued a cease and desist orders in June and July which prohibit the company to produce cheeses until it follows the laws.
Once the company has completed corrective actions it could potentially be back in business, she said.
Torres could not be reached for comment.


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Switzerland-based processing and packaging giant, Tetra Pak, announced the global launch of its bio-based HDPE LightCap30 carton cap yesterday.
According to Tetra Pak product manager environmental innovation, Erik Steijger, the LightCap 30 development signifies the companies “continued commitment to environmental innovation and providing customers, retailers and consumers with the highest level of environmental performance for their packaging.”
“Further enhance” environmental image
Norwegian dairy processor, TINE, is the first brand in Europe to adopt the LightCap 30. TINE iced coffee, iced tea, chocolate milk, and Piano-brand vanilla sauce will be packaged in the Tetra Brik Aseptic Edge carton featuring the new LightCap 30.
Through its adoption of the new bio-based carton cap, TINE hopes to “further enhance” its environmental image.
“As one of Norway’s largest users of packaging, it is important that we use our resources optimally and prioritise sustainability,” said TINE sustainability manager, Björn Malm. “This is a business imperative for us.
“Tetra Pak’s TBA Edge, which is made from about 75% renewable resources, now comes with bio-based cap, offering us the opportunity to further enhance the environmental profile of our products.”
Sugar cane to polyethylene….
The renewable polyethylene used in the LightCap 30 begins life as sugar cane.
The cane is then crushed and the resulting juice fermented and distilled to produce ethanol. Through a process of dehydration, this ethanol is then converted into ethylene, which is then polymerised to produce polyethylene.
This polyethylene is then used to manufacture Tetra Pak’s LightCap 30.
LightCap 30 is the first of several carton caps being developed by Tetra Pak using bio-based polymers derived from sugar cane. Tetra Pak packages featuring bio-based polymer caps grew to 610m in 2012 – up significantly from 80m in 2011.
Aseptic Technology 2013: Exclusive, free online event
On May 30, BeverageDaily.com and FoodProductionDaily.com will host an exclusive, free, online event on aseptic processing and packaging technology, Aseptic Technology 2013. Our program includes speakers from Sidel, GEA, Coca-Cola Hellenic, Zenith International and more. The event begins at 9am New York time. Click here to register and to learn more .


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Apple released the details about the new iPad Air 2. Read below.
3 days ago, 1:14pm CDT
Apple has just announced the latest generation of iPad, the iPad Air 2 which is the thinnest iPad ever made and makes it the world's thinnest tablet
3 days ago, 12:52pm CDT
Both offer superior performance over the Kepler series of GPU they replace.
Oct 11 2014, 2:15am CDT
The new Kindle e-reader is now faster. Even better, you can now use your gentle hands to flip through the pages of your favorite novel.
Sep 18 2014, 4:04am CDT


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Wal-Mart Stores announced Thursday that the CEO of the Wal-Mart US division will retire, effective Aug. 8.
Bill Simon, who has been in the role since June 2010, will receive $4.5 million as part of his retirement agreement.
Greg Foran, currently president and CEO of Wal-Mart China, will take over Simon’s position.
Simon was rumored to be in the running for CEO of Wal-Mart Stores before Doug McMillion was chosen in February, and he will stay with the company in a consultant role for the next six months.
For Foran, he will be heading a division much larger than the one he is currently overseeing. But Wal-Mart US has seen sluggish growth, with sales and profits last quarter lower than projected. Perhaps the company is hoping that Foran’s 30 years of retail experience can add new growth to the division.
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A new survey of 259 service providers and Wi-Fi vendors reveals that global pulbic Wi-Fi hotspot numbers are roadmapped to grow from 1.3 million in 2011, to 5.8 million by 2015. That's a 350 percent increase and doesn't even include community hotspots created by users sharing their own Wi-Fi access points. Those will add another 4.5 million to the tally.
The Wireless Broadband Alliance (WBA), which published its report based on data compiled by analyst firm Informa, said that China Mobile alone plans to deploy a million hotspots, while Japan's KDDI is gearing up to grow its 10,000 Wi-Fi hotspots to 100,000 just within the next six months.
A driving force in this rapid Wi-Fi hotspot expansion is the growing number of smartphone connections. According to the WBA, it won't be long before the number of smartphone connections to Wi-Fi hotspots outnumber laptop connections, the latter of which now accounts for 48 percent. Smartphones currently account for 36 percent, and tablets take up 10 percent of all Wi-Fi hotspots.
"The findings show we are about to enter the golden age of public Wi-Fi with hotspot deployments set to soar. Fixed operators are extending broadband services beyond the home and office, and Wi-Fi is supporting busy mobile broadband networks," said Chris Bruce (PDF) , Chair of the WBA and CEO, BT Openzone. "Next Generation Hotspot trials are making inroads in the remaining barriers and by cracking the code of a simple, secure user experience hotspot use will continue to soar."
The WBA expects mobile traffic to reach 16.84 million terabytes by 2014.


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3rd August 2023, Kathmandu
Samsung Premium Experience the globally renowned tech giant, has marked a significant milestone with the inauguration of its premium Experience Store situated at Kamaladi.
The grand opening event, graced by the presence of Samsung’s President & CEO of S.W. Asia, Mr. Jong Bum Park, took place on August 1, 2023, setting the stage for a new era of consumer engagement.
The distinguished IMS Group, an authorized importer of Samsung mobile phones, has introduced this cutting-edge store concept to the heart of Kamaladi. Designed to epitomize Samsung’s commitment to innovation and customer-centricity, the premium experience store stands as a testament to the brand’s dedication to offering unparalleled shopping experiences.
This brand-new store (Samsung Store in Kamaladi Nepal)serves as a comprehensive showcase of Samsung’s entire ecosystem, presenting consumers with the convenience and flexibility they need to make informed purchase decisions. A wide array of Samsung products will be on display, including the latest Smartphones, Galaxy Buds, Galaxy Smartwatches, Tablets, Samsung Monitors, Accessories, and Samsung Televisions.
Samsung Store in Kamaladi Nepal
Adding a touch of excitement, the store has carved out a dedicated gaming zone tailored for avid gamers. This zone features premium Samsung monitors, providing an immersive gaming experience that is bound to captivate the young gaming enthusiasts of Nepal.
One of the standout offerings of the store is the availability of Samsung Insta Finance – an innovative and hassle-free financing solution.
Interest on EMI
This service offers instant financing at 0% interest on EMI, facilitating seamless access to loans for consumers. With this, customers can now acquire or upgrade to their desired Samsung premium experience smartphones with minimal financial constraints.
The establishment of the premium Samsung Experience Store not only promises a luxurious and engaging shopping journey for consumers but also fosters a deeper and more meaningful connection with the brand.
As visitors immerse themselves in the world of Samsung’s premium experience and cutting-edge technology, they are invited to discover, experience, and embrace the future of innovation.
In conclusion, the inauguration of the premium Samsung Experience Store in Kamaladi marks a remarkable chapter in Nepal’s retail landscape. With its curated product offerings, engaging zones, and customer-centric financing solutions, Samsung is poised to redefine how consumers interact with technology and elevate their overall shopping experience.


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"Dead Rising 3" Title Update Releases Today in Advance of 'Operation Broken Eagle' DLC Launch
Improvements to campaign and co-op gameplay as well as new impulse trigger functionality pave the way for tomorrow's launch of the first "Dead Rising 3" DLC Episode
Capcom Vancouver released a new title update today for "Dead Rising 3" in advance of tomorrow's launch of the game's first DLC episode, 'Operation Broken Eagle.' The update introduces a host of improvements to single-player and co-op gameplay, including a variety of performance and stability upgrades, and fixes for issues related to achievements, UI updates, SmartGlass and more. Additionally, it adds a new impulse trigger feature that notifies players when they are running low on ammo.
Players eager to jump straight into the DLC Episode tomorrow are encouraged to download and install the title update today. For a full list of title update fixes and an in-depth Q&A with "Dead Rising 3" Executive Producer Josh Bridge, visit: http://news.xbox.com/2014/01/games-diving-deep-into-the-add-on-content-of-dead-rising-3
Launching tomorrow, 'Operation Broken Eagle' is the first episode in the "Untold Stories of Los Perdidos" DLC series. This single-player episode puts you in control of Spec Ops Commander Adam Kane on a mission that challenges everything he believes and sets him out to capture the missing President of the United States. 'Operation Broken Eagle' will cost $9.99 (USD) and features a new mission, five new weapons, one new combo weapon, one new vehicle, a new clothing outfit, plus additional Gamerscore and the ability to carry experience points back to "Dead Rising 3."
Since the game launched last November, "Dead Rising 3" players have killed more than 16 billion zombies – more than twice the world population of people – and have logged more than 14 million hours of gameplay. With stats like these, it should be no surprise that "Dead Rising 3" is now the third best-selling Xbox One title and the fifth best-selling title across next-generation platforms.
Zombie-hungry fans looking for a way to play even more "Dead Rising 3" can obtain the "Dead Rising 3" Season Pass, which includes 'Operation Broken Eagle' and the three additional upcoming content packs for $29.99 (USD) – a 25% discount compared to purchasing them individually. Each episode will feature new gameplay, playable characters, missions, weapons, and more.
About "Dead Rising 3"
Developed exclusively for Xbox One, "Dead Rising 3" is the third installment in the celebrated franchise and introduces a blockbuster open-world action game that will define a new generation of zombie-slaying mayhem. With intense action and an unmatched level of weapon and character customization, "Dead Rising 3" delivers a heart-pounding experience unlike any other as you fight for survival in a massive open world teeming with thousands of undead.
Capcom is a leading worldwide developer, publisher and distributor of interactive entertainment for game consoles, PCs, handheld and wireless devices. Founded in 1983, the company has created hundreds of games, including best-selling franchises Resident Evil™, Street Fighter™, Mega Man™ and Devil May Cry™. Capcom maintains operations in the U.S., U.K., France, Germany, Tokyo, Hong Kong and Korea, with corporate headquarters located in Osaka, Japan. More information about Capcom and its products can be found at www.capcom.com or www.capcom-unity.com.


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This weekend only, get our new Marketplace zip up hoodie when you donate $8/month instead of $16/month. Don’t wait — this offer ends at midnight Sunday!
Segments From this episode
Google has begun handing over personal and commercial data collected during its street view service in European countries, which may have included bank account numbers.
The Gillette's latest razor is finally hitting store shelves after months of hype, and the skirmish pits the consumer products behemoth against Schick, a smaller but still formidable challenger.
Marketplace Morning Report for Friday, June 4, 2010


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Gartner: Smartphone shipments fail to impress in Q4 2018
2018 wasn't a great year for smartphone sales. According to the latest research by Gartner, the total number of devices sold rose from 407.845 million to 408.358 million, which is a tiny 0.1% growth. The biggest loser was Apple, selling 11.8% fewer units in the last holiday period compared with the same quarter in 2017.
|Q4 2018 Units
|Q4 2017 Units
Samsung also sold fewer units YoY in Q4 2018 but managed to stay ahead due to the massive gap from competitors. Huawei managed to increase its sales by one third and is now challenging Apple for the second place. Xiaomi jumped ahead of Oppo in the Top 5 with 6 million more units sold.
|2018 Units (in million)||2018 Market Share||2017 Units (in million)||2017 Market Share|
According to Gartner, Apple sales declined mostly in Greater China, where the market share fell to 8.8% from 14.6% in the previous year. In total for the whole of 2018, the iPhone manufacturer sold 209 million phones which is 2.7% less than the twelve months of 2017. The reason is buyers are now delaying upgrades as waiting for bigger innovations and are seeing more affordable alternatives from Chinese vendors, said Anshul Gupta, Senior Research Director at Gartner.
- 23 Feb 2019
You are right for number 3 only. IPhone X came out in Q4 2017 while iPhone XS released in Q3 2018 so some of sales lost right there. Rich Chinese don’t buy the Q4 released iPhone XR, and lower class Chinese can’t even afford iPhone XR. Al...
- 22 Feb 2019
Phones keep getting expensive. so they all lose market share and replace with new players like Mi
- 22 Feb 2019
At least Number still increase, but non of top sales have something new to over custumers. in other hands custumers bought copypaste phone, make manufacture wont put big RnD


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How do you interact with a pair of augmented-reality smartglasses? Maybe with your hands or a controller or a touchpad? Rokid, a Chinese company that's developed voice assistant-based products, believes the answer is voice.
Last year, Rokid unveiled a little Amazon Echo-alike called the Rokid Pebble at CES, which used an AI called Melody to attempt to one-up Amazon Alexa and Google Assistant. This year, the Rokid Glass aims to show off its voice assistant for visuals. It joins an already crowded landscape in emergent smartglasses, including Vuzix's attempt to combine Amazon Alexa with AR smartglasses. It suggests that AI and AR may inevitably end up more interlinked.
The design feels like an extension of monocular glasses like the Google Glass. The Rokid Glass projects a single image using a 1080p embedded OLED with roughly a 40-degree field of view.
AR feels like it's suffering from an explosion of hardware lately, and a lack of killer experiences. In fact, most AR smartglasses I've ever used are clunky. I haven't tried the Rokid Glass yet, but will voice AI do anything to improve the sense of disconnect I tend to have when experiencing immersive AR on headsets?
It sounds, rather, like voice assistance on a headset will help assistants improve more than AR. According to Rokid's press release, "By making Rokid's Voice AI assistant available on all types of [internet of things] devices, including a wearable like [the] Rokid Glass, user-specific data from not just static, but also out-of-home portable devices like wearables can be observed and analyzed for improved and personalized recommendations."
I wore Rokid Glass, but the voice services weren't working. Instead, I tried a brief face-recognition demo and, well, that was about it. The Glass was a weird fit on my face, and like many smartglasses, I didn't see what the point was.
Maybe that's the real conclusion here: smartglasses for everyday use cases still feel like they're seeking a purpose that doesn't exist yet.
All the cool new gadgets at CES 2018See all photos
PC preview: What to expect from laptops, desktops and tablets at CES this year.
CES 2018: CNET's complete coverage of tech's biggest show.


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Judge Rules for Rowling, Against Potter Encyclopedia
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
A judge ruled Monday in favor of “Harry Potter” author J.K. Rowling in her copyright infringement lawsuit against a fan and Web site operator who was set to publish a “Potter” encyclopedia.
U.S. District Judge Robert Patterson said Ms. Rowling had proven that Steven Vander Ark’s “Harry Potter Lexicon” would cause her irreparable harm as a writer. He permanently blocked publication of the reference guide and awarded Ms. Rowling and Warner Bros. Entertainment Inc. $6,750 in statutory damages.
Ms. Rowling and Warner Bros., the maker of the “Harry Potter” films and owner of intellectual property rights to the “Potter” books and movies, sued Michigan-based RDR Books last year to stop publication of material from the Harry Potter Lexicon Web site. Mr. Vander Ark, a former school librarian, runs the site, which is a guide to the seven “Potter” books and includes detailed descriptions of characters, creatures, spells, and potions.
The small publisher was not contesting that the lexicon infringes upon Ms. Rowling’s copyright but argued that it was a fair use allowable by law for reference books. In his ruling, Judge Patterson noted that reference materials are generally useful to the public but that in this case, Mr. Vander Ark went too far.
“While the lexicon, in its current state, is not a fair use of the ‘Harry Potter’ works, reference works that share the lexicon’s purpose of aiding readers of literature generally should be encouraged rather than stifled,” he said.
He added that he ruled in Ms. Rowling’s favor because the “‘Lexicon’ appropriates too much of Rowling’s creative work for its purposes as a reference guide.”
Anthony Falzone, who argued the case for RDR Books, said he had not yet seen the ruling and could not immediately comment. RDR publisher Roger Rapoport did not immediately return a telephone message for comment. A spokeswoman for Ms. Rowling and Warner Bros. did not immediately return a telephone message for comment.
Though Ms. Rowling had once praised the Web site, she testified earlier this year that the lexicon was nothing more than a rearrangement of her material.
She said she was so distressed at the prospect that it would be published that she had stopped work on a new novel. “It’s really decimated my creative work over the last month,” she said during the trial in April.
If the lexicon is published, she went on, “I firmly believe that carte blanche will be given to anyone who wants to make a quick bit of money, to divert some ‘Harry Potter’ profits into their own pockets.”
Mr. Vander Ark, a devoted fan of Ms. Rowling, began work on his Web site in 1999 and launched it in 2000.
The seven “Potter” books, which ended last year with the final book in the series, “Harry Potter and the Deathly Hallows,” have been published in 64 languages, sold more than 400 million copies, and produced a film franchise that has pulled in $4.5 billion at the worldwide box office.


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iCloud Mail has been experiencing an issue over the past few hours and is currently down for some users, according to Apple’s system status page.
There have been a number of reports on Twitter and from MacRumors readers over the past few hours, although the volume of reports doesn’t seem terribly high, so the issue may be affecting only a relatively small percentage of users.
User reports indicate iCloud is having problems since 7:56 PM EDT. https://t.co/cMx6KRH6gt RT if you’re also having problems #iClouddown
— Downdetector (@downdetector) November 1, 2022
Apple says the iCloud Mail service may be “slow or unavailable,” but no other iCloud services are currently listed as affected.Tags: iCloud, System StatusRelated Forum: Apple Music, Apple Pay/Card, iCloud, Fitness+
This article, “iCloud Mail Currently Down for Some Users” first appeared on MacRumors.com
Discuss this article in our forums


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International music artists like electronic producer #Brillz, Crunkstep artist #Crizzly, trance legends #FerryCorsten and #MarkusSchulz have joined the line-up of Electric Daisy Carnival India (EDC India), a #musicfestival which is making its debut in India in November.
The first edition of the event will be held on November 12-13 at Buddh International Circuit here.
The second line-up - which also includes names like progressive psytrance producer AU/D10/GRAMME, Indian psychedelic trance producers Spinal Fusion and Starlab, drum and bass duo The Upbeats, and Israeli trance champion Vini Vici - was announced on Tuesday via a statement.
The artists will join the league of global electronic dance music giants performing, including Alesso, Afrojack, R3hab, Steve Aoki, Tommy Trash, and Yellow Claw as well as some of the notable Indian names such as Anish Sood, Arjun Vagale, Dualist Inquiry, Nucleya and Zaeden.
From intricately designed stages to interactive art installations, EDC India, presented by beer brand Budweiser, combines the electronic world's finest music, art, culture and imagination for a holistic experience.
The fest is presented by Insomniac and OML in partnership with Budweiser India.
EDC is one of the popular electronic dance music festivals, with its flagship edition held annually in Las Vegas, Nevada.
Visit our yet another website on Food recipe and health tips (largest collection of Indian and International recipe) - Imperial Inn!


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Most truckers recognize some drastic changes have occurred in the industry since the recession began in 2008. Higher fuel prices, more legislative mandates, and reduced consumer spending have all taken their toll on many who depend on this profession for survival. Sometimes the key to surviving difficult times is knowing what's ahead in the industry. Here is some information every trucker should know.
A recession is created when spending decreases and prices rise. This results in fewer goods needed by businesses, fewer orders to manufacturers, and less need for trucks to haul goods. In order to maintain a competitive edge, businesses have to lower prices to draw consumers, but this also limits the amount of profit they make and, therefore, reduced orders. When rising fuel costs are added into the mix, less money is left for goods and the cycle continues. Prior to 2008 the trucking industry thrived. There was steady demand and it seemed there was more work than could be completed. Since the recession hit in 2008, however, according to IBIS World Press, a turnaround in this trend changed beginning in 2011. Demand increased by 3.9% and a steady growth has been seen for truckers as a rate of 3.2% annually. So for those who are worried about the economy, hang in there. Things are getting better.
According to Inbound Logistics one positive change that has come out of the recession is the fact that the industry has become more efficient. New technology to improve fuel efficiency and lower emissions is required on trucks as well as cars by 2012 and trucking manufacturers have jumped on the bandwagon by creating gadgets that will help drivers travel farther for less. According to Navistar, however, more than improved efficiency it is anticipated the trend from long-haul irregular routes to regional distribution will continue. One reason for this change is the increased use of intermodal means of hauling, such as the truck-rail system for loads going over 1,000 miles. For truckers this means that the future may find them sticking closer to home, which can increase time at home and the development and maintenance of personal relationships.
Although the American Trucking Association predicted a steady, long-term growth in freight volumes, it has been suggested that higher federal taxes and fuel costs may cut consumers' discretionary spending. What this means for truckers is less goods to haul. However, one thing found in longitudinal studies of consumer spending is that, regardless of the economy, many consumers want the new things that make their life easier and afford them an escape. Therefore, it is predicted that industries, such as technology, will continue to see steady growth. For truckers this means that if you can make connections with the right manufacturers, you will have work for many years to come.
On a good note, since the baby-boomer generation is retiring, it has left huge opportunities for new truckers to hit the road. It is predicted this will increase the number of recruits in trucking schools and in fleets hired by larger manufacturers. It will also open up new prospects for independent truckers that like more variety in their routes.


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June 12th, 2008
It sounds like some gamers are finally fed up with Electronic Arts monopoly on NFL licensing. The Escapist is reporting that two gamers are suing Electronic Arts for monopolizing the market on football video games:
The class-action lawsuit, launched by two gamers in Washington, DC, and California last week, alleges that EA is engaging in “blatantly anticompetitive conduct” by raising the price of its football game offerings after securing key licensing deals.
Hurray for gamers.
For those of you who are unfamiliar with the issue, Electronic Arts is the maker of the very popular Madden Football game series. One of the big reasons for the recent success of the series is that since 2005, it is the only game that is licensed to use the real NFL teams and players in the games. Many gamers have been frustrated with this arrangement because they feel that this licensing deal provides EA with very little incentive to actually improve the game, because there are no real competitors. From the Wikipedia entry:
In 2005, the producers of the Madden games, EA Sports, signed an exclusive licensing deal through 2009 with the NFL and the NFLPA to give them the exclusive right to use the NFL’s teams, stadiums and players in a video game, something which has been widely criticized (this deal has since been extended through 2012). This exclusive license has put an end to competition in NFL video games and, some have suggested, this gives EA less incentive to maintain quality and a greater opportunity to increase prices.
I think that this lawsuit is a win-win for gamers. The Madden series is not bad, by any stretch. In fact, I just got Madden 2008 last Christmas and was blown away by how much fun it was. The point is that if you are a real NFL fan and want to play a game with the real teams and players, this is the only game to choose from. That’s a huge advantage for EA, and puts a lot of potential game makers out of the market. Lack of competition is always a loss for the consumer.
I don’t think there’s a gamer out there who loves football (and even loves the Madden series) who will argue that EA has stopped releasing anything more substantial than yearly roster updates in regards to the Madden series. That’s a shame.
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Government moves to cut junk food ads in schools
02/27/2014 // West Palm Beach, Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Washington – New rules have been proposed by the Obama administration for cutting out junk food advertisements on school grounds. As reported by the Associated Press (AP), in accordance with the Agriculture Department rules, marketing of food on school campuses would be tailored to match current health standards for food public schools serve.
First Lady Michelle Obama is quoted as stating of the proposed rules at the White House this week, “This new approach to eating and activity is not just a fad.”
The new rules would apply to advertising on scoreboards at school sporting events such as basketball games, vending machines, cups, menu boards, and more.
According to the Agriculture Department, $149 million a year is spent by companies in marketing sugary drinks and other products to kids in schools.
This report is provided by Justice News Flash – Washington Legal News
Address: 215 South Olive Suite 300 W. Palm Beach FL 33401


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On the 45th anniversary of the assassination of Martin Luther King as he supported sanitation workers striking for union recognition, fast food workers in New York have gone on strike for the same right and a living wage. Fast Food Forward, who organized a similar walk-out in November, hope today's action - at Burger King, McDonald’s, Wendy’s, Domino’s, Papa John’s, Taco Bell and Pizza Hut - will be the largest-ever strike against an industry that is among the most profitable and fast-growing, but continues to pay workers so little that many must skip meals, get food stamps or live in shelters to survive. On his new show, MSNBC's Chris Hayes does a nice job showing how the funamental math of their lives - $7.25 an hour trying to live in New York City - is untenable.
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According to TipRanks.com, Quinn is a top 100 analyst with an average return of 24.2% and a 63.3% success rate. Quinn covers the Basic Materials sector, focusing on stocks such as Rayonier Advanced Materials, GreenFirst Forest Products, and International Paper Co.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Interfor with a $40.93 average price target.
Based on Interfor’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $676 million and net profit of $69.65 million. In comparison, last year the company earned revenue of $662 million and had a net profit of $149 million.
Based on the recent corporate insider activity of 10 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of IFSPF in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Interfor Corp. engages in the manufacture of wood products. It harvests and purchases logs which are sorted by species, size, and quality. Its products include appearance timbers, decking, framing, furniture, industial packaging, paneling, windows, and doors. The company was founded on May 6, 1963 and is headquartered in Vancouver, Canada.
Read More on IFSPF:


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Insurance is one business concept that is unpopular in Nigeria. In this piece, ONYEKORMAKA ASABOR looks at the implication of war risk insurance in the country
In today’s global economy, consumers are used to seeing products from every corner of the world in their local stores and retail shops. These overseas products, or imports, provide more choices to consumers. And because they are usually manufactured cheaper than any local equivalent, imports help consumers manage their strained household budgets.
In fact, the importing and exporting of goods and products has long been a key growth indicator for businesses for most countries, with particular reference to Nigeria in this context and the economy as a whole. But with war risk insurance on the horizon, how will consumers of imported goods across the country be affected?
War risk insurance covers damage due to acts of war, including invasion, insurrection, rebellion and hijacking. Some policies also cover damage due to weapons of mass destruction.
The Director-General of Nigerian Maritime Administration and Safety Agency, Dr Bashir Jamoh, few days ago, expressed worry over the persisting war risk insurance on Nigeria-bound cargoes, calling for its removal.
His call came as the additional cost to shippers is not just threatening Nigeria’s maritime trade but also the consumer market where the goods are finally sold to end users to bear the cost passed to them through the chain of distribution of imported goods.
According to Jamoh, piracy on Nigerian waters is waning, and stakeholders in the industry are worried that offshore underwriting firms still insist on very high premium to be paid by those conveying cargoes to Nigeria.
His words, “Since the deployment of the deep blue project assets in February, there had been steady decline in piracy on the Nigerian waters.
“We therefore, invite the international shipping community to rethink the issue of war-risk insurance on cargo bound for our ports. Nigeria has demonstrated enough commitment towards tackling maritime insecurity to avert such premium burden.”
Need for review
He argued that going by the burden the insurance cost would unarguably place on the shoulders of consumers of every imported item in the country, it is expedient that war risk insurance on Nigeria-bound cargoes is reviewed.
“It goes without saying that the negative consequence of this additional spending by shippers in Nigeria lies in the very high cost consumers in the country pay for imported goods,” Jamoh said.
War risk insurance, which is commonly used in the shipping and aviation sectors, he explained, is not necessary in Nigeria for now.
According to Investopedia, an online investment encyclopaedia committed to the simplification of complex financial information and decisions for its readers, war risk insurance is an insurance policy that provides financial protection to the policyholder against losses from invasions, insurrections, riots, strikes, revolutions, military coups and terrorism.
“Those entities, which have risk exposure to the possibility of sudden and violent political upheavals are good customers for war risk insurance. For example, companies operating in politically unstable parts of the world have to exposure an elevated risk of loss from acts of war. War risk insurance may cover perils such as kidnappings and ransom, sabotage, emergency evacuation, worker injury, long-term disability, and loss or damage of property and cargo.
“Also, some policies may cover event cancellations due to war. There are war risk insurance policies that include acts of terrorism, but others consider terrorism and war to be two separate categories of peril. Some countries may require airlines to have war risk insurance before they can operate in their airspace or use their airports,” he stated.
Milking Nigerian businesses
Kingsley Okuijen, an economist, said, “With the payment of Importers in Nigeria or exporters to the country from other economies, consumers down here will be paying comparatively higher prices for goods relative to their counterparts, say in Ghana or South Africa”.
Against this backdrop, he noted that the situation would not in any way augur well for consumers in Nigeria, as prices of goods imported into the country would be high.
He added, “Any extra charge levied by port authorities like the security service charges will be added to war risk insurance premium, and all these tend to affect the ocean freight rate.”
“The burden of the insurance premium, which may be passed to either the importer or the exporter – depending on who bears the cost – may appear inconsequential. it is, In fact, a huge cost to many businesses and consumers.
The negative impact will include increase in prices, leading to more inflation, less disposable income for already poor households resulting in lower consumption, and a decline in Gross Domestic Product growth.
On the way out, he said every stakeholder should throw his or her weight behind Jamoh, who is calling for the review of war risk insurance on Nigeria-bound cargoes.
Jamoh argues, “There has been a significant reduction in the rate of piracy on Nigeria’s maritime environment since February 2021, when Nigerian Maritime Administration and Safety Agency rolled out the Integrated National Security and Waterways Protection Infrastructure, popularly known as the Deep Blue Project.
“This should ordinarily be cheering news to maritime stakeholders in Nigeria, including the Federal Government, which has done a lot, perhaps more than any government before it, to make the country’s waterways safe for seafarers and for economic activities to thrive. But this has not been the case,” he had said.
As gathered by Financial Street, the issue of war risk insurance premium to insurance companies by importers of goods to Nigeria is not novel. The concern has been on since 2017. For instance, Hassan Bello, who officially ended his career at the Nigerian Shippers Council recently, after 22 years of service – including eight years in the council’s top leadership position as the executive secretary at the agency in 2017, expressed this while receiving his then counterpart at NIMASA, Dakuku Peterside.
Bello said there was need for collaboration between the NSC and NIMASA to tackle the problem and ensure that such charges were removed from Nigeria-bound vessels.
“Our concern is the surcharges on war risk insurance clause on Nigerian cargo because of piracy. We need to collaborate on that. Because of the issue of security in the Gulf of Guinea and because of apprehension, insurance companies usually levy cargo coming to Nigeria as war zone. But the incidence of piracy and armed robbery has reduced drastically. NIMASA and NSC will find ways to tackle that and ensure that such surcharges are removed from our cargo,” he said.
Prior to Bello’s worries over the development, a senior executive with LASACO Assurance at the time, Adu Gbolahan, was reported to have said the development would reduce business transactions as regards maritime activities.
He said any region designated as a war risk zone would always attract a higher premium, which eventually would eat into the profit of the ship-owner.
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