Americana dodges sale rumours
Kuwait’s Americana may be considering buyout bids from up to six firms in a potential US$5bn deal, but the food giant is denying the reports.
Archives for July 20, 2014
Almarai profits up 8.8%, cautious about mounting costs
Saudi dairy firm Almarai ha seen its second-quarter profits rise 8.8% year-on-year to US$116m, with sales up 14.4% to reach US$826m, as the company faces higher wage and commodity costs.
Insight
ANZ Bank accused of abandoning farmers after splitting with sugar firm
Early this month, in what looks like a failed attempt to save its reputation, Australia‘s ANZ Bank severed its ties with Phnom Penh Sugar, a company accused of a range of human rights abuses linked to its plantations in Kampong Speu province, Cambodia.
China
McDonald’s, KFC apologise in China’s latest food safety scare
Allegations concerning the sale of expired meat by American-owned Shanghai Husi Food to the Chinese operations of McDonald’s, KFC and Pizza Hut have forced the fast food chains to suspend orders while the Shanghai Food and Drug Administration investigates.
South Korea allows mealworms as a food ingredient
South Korea’s Ministry of Food and Drug Safety have given a green light to the use of mealworms as a food ingredient.
Kizad bags Mcdonald’s packaging firm GPP
Gulf Printing and Packaging (GPP), the exclusive packaging provider to McDonald’s in the Middle East, has signed a US$22m deal to take a plot at Khalifa Industrial Zone Abu Dhabi (Kizad).
Australian meat sector fights back against veggie campaigns
Australian meat bosses are fighting back against the Paul McCartney-backed Meat Free Monday campaign by investing in research and consumer education.
Australia
Study: Energy drinks increase the desire to drink longer and harder
Australian academics have called for greater analysis of the potential harm caused by mixing energy drinks with alcohol after new research found the practice can turn a few quick drinks into a much longer session.
Lebanese food exports soar, but falling prices cut value
Lebanon’s food exports grew 33% by volume in 2013, but falling prices meant growth by value was less than half that rate, according to a Blominvest Bank report.
Danone slams NZ High Court for 'undue delay' in Fonterra WPC case
Danone has slammed a New Zealand High Court decision to stall its legal battle to recoup money lost as a result of the Fonterra whey protein concentrate (WPC) botulism scare.