Finance

The Indian government is creating a Dairy Processing and Infrastructure Development Fund, which will provide $1.2bn to the industry over a three-year period. Pic: ©iStock/RakeshPicholiya

India launches $1.2bn dairy fund

By Jim Cornall

India’s Finance Minister Arun Jaitley presented the Union Budget in Parliament last week, and made a pledge to invest in the country’s dairy industry.

Fonterra says a deal with Bank of China New Zealand will help its Chinese operations. Pic: ©iStock/travellinglight

Bank of China and Fonterra sign deal

By Jim Cornall

Bank of China New Zealand has signed an agreement with New Zealand dairy cooperative Fonterra that establishes a RMB 1.5bn (NZ$300m, US$213m) multi-currency bank facility including a Chinese currency component.

Front, with, left to right: George Nobbs, Norfolk County Council, Nicola Barker, NatWest, Katie Whitmore, Lombard, Carl Baker, RS Baker & Sons, John Fuller, South Norfolk Council and New Anglia LEP Food, Drink and Agriculture Sector Group, and Chris Starkie, New Anglia LEP.

Chinese firm creates 50 UK jobs

By Laurence Gibbons

Chinese food manufacturer Freshasia will open a new production facility in Little Melton, south Norfolk, creating more than 50 jobs, thanks to securing investment from a number of funders.

Almarai misses mark on $533m sukuk issue

Almarai misses mark on $533m sukuk issue

By Nathan Gray

Saudi dairy and poultry producer Almarai missed its US$533m sukuk target by more than US$100m last week, a reversal from previous rounds of debt-issuing, which were routinely oversubscribed.

Workers from supplier Shanghai Husi were filmed picking meat off the floor and using out-of-date beef and chicken

McDonald’s Japan revises finances following food safety scandal

By Oli Haenlein

McDonald’s Holdings Japan has revised its financial forecasts to take into account a damaging incident earlier this year, in which workers from supplier Shanghai Husi were filmed picking meat off the floor and using out-of-date beef and chicken.

Mead Johnson Nutrition: A Danone target?

Is Danone feeling the need for Mead?

By Shane STARLING

 Danone shares rose today as rumours strengthened the French dairy giant would sell its medical and paediatric nutrition business (Nutricia), but is the firm streamlining its activities around its core foods businesses or just shifting infant-medical...

Almarai and PepsiCo plan $345m Egypt investment

Almarai and PepsiCo plan $345m Egypt investment

By Eliot Beer

Almarai and PepsiCo announced a joint plan to invest US$345m in projects in Egypt over the next five years, taking advantage of the growing stability in the country.

VKL to get $40m investment to focus fully on Indian QSR supply

Finance

VKL to get $40m investment to focus fully on Indian QSR supply

By RJ Whitehead

Private equity investor India Value Fund Advisors has revealed it will invest US$40m to finance the next phase of growth of a domestic food ingredients company – the latest in a line of QSR suppliers to catch the eye of buyout firms.

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