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May 03, 2016 by WTLEADS
Big Food scrambles to meet changing consumer needs

When it comes to meal prep, Americans are using fewer dishes and ingredients at a time when food and beverage occasions remain flat, according to the NPD Group. As a result, major food companies, which are already contending with losing share to new, smaller entrants, are scrambling to meet changing consumer needs. “This means that food manufacturers and foodservice operators are increasingly competing for a larger share of a smaller food and beverage pie,” said David Portalatin, VP, food industry analyst at NPD.

May 03, 2016 by WTLEADS
UK manufacturing 'contracts for first time in three years'

UK manufacturing activity contracted in April for the first time in three years, a survey has indicated, adding to fears over the economy's strength. The Markit/CIPS manufacturing Purchasing Managers' Index fell to 49.2 from 50.7 in March. A reading below 50 indicates falling output. It is the first time that activity in the sector has fallen since March 2013. Firms blamed soft domestic demand, a fall in new business from overseas and uncertainty ahead of the EU referendum. A slowdown in the oil and gas industry, a major customer for UK companies, is also hitting production.

May 01, 2016 by WTLEADS
Reliance Industries Buys Iranian Oil After 6-Year Hiatus

New Delhi: Reliance Industries Ltd (RIL) has bought crude oil from Iran after a break of 6 years and is looking to strike a long-term fixed quantity deal, after lifting of sanctions against the Persian Gulf country. RIL, which operates the world's biggest refining complex at Jamnagar in Gujarat, is looking at quickly ramping up purchases to the earlier levels of about 5 million tonnes a year. "Re-established relationship with Iran, sourced crude oil post lifting of sanctions," the company said in an investor presentation after reporting its 2015-16 earnings.

May 01, 2016 by WTLEADS
India's oil import from Middle East rises to 59%

Reversing a two-year declining trend, India's reliance on the volatile Middle East region for meeting its crude oil needs has risen in 2015-16, with quantum jump in buying from Iraq. India imported 109.09 million tonnes of crude from the 10 nations in the Middle East during first 11 months of 2015-16 fiscal, Oil Minister Dharmendra Pradhan told Lok Sabha here. The region supplied 59.22 per cent of the total 184.21 million tonnes of crude oil imported by India during April, 2015 and February, 2016. In the entire 2014-15 fiscal, India had imported 109.88 million tonnes or 58 per cent of its entire oil need of 189.44 million tonnes, from the Middle East.

May 01, 2016 by WTLEADS
Tips for Handling Multiple Currencies in doing international business

If you have considered dipping a toe into importing or exporting, you may have balked at keeping up with the fluctuations in value of various currencies. Don't even try, says Guido Schulz, global head of strategic management at Los Angeles-based AFEX, a foreign-exchange consultancy. Large international conglomerates have entire “forex” teams dedicated to managing finances across multiple currencies. As a small-business owner, you should not be trying to keep up with the second-by-second changes on your own, says Schulz.

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