Category Archives: Business and Management

luxury food industry amasses heavy losses due to the virus

Global demand for luxury foods such as wagyu beef, bluefin tuna and caviar has plummeted into decline in the wake of the coronavirus pandemic, with thousands of restaurants shuttered.

The luxury food industry may be among the hardest affected because it depends heavily on restaurants and top hotels for ordering deluxe goods from caviar to champagne, because tight shutdown efforts to curb the epidemic ravage global economic activity. While some gourmet food manufacturers are specifically targeting customers to remain alive, some have been compelled to slash production since some goods have lost nearly half their value since the beginning of the year.

Jean-Marie Barillere, co-chairman of champagne producers’ lobby CIVC in France, said he hoped people would celebrate the easing of lockdown with a bottle of champagne, but expected a difficult end to the year. “This is really a period that looks like a war time,” he said.

Bookings data compiled by OpenTable, an online restaurant reservation service, showed this year a decline of nearly 80 percent year-on-year in seated restaurants in the United States, UK , Germany, Canada , Australia, Ireland and Mexico. Restaurants is among the world’s hardest-hit industries

“People will not want to taste a Chateau Petrus wine, a lobster or caviar under a bell jar,” said Michel Berthommier, managing director of Caviar Perlita in southwestern France. “If you force people to eat in these conditions they will prefer going to fast foods.”

Premium foods was “one of the worst hit sectors worldwide”, said Ole Houe, director of advisory services at agriculture brokerage IKON Commodities in Sydney. He said he did not expect a prompt recovery given many countries were in recession. Falling demand has already taken a toll on the prices of luxury items.

In Tokyo, the price of top-quality wagyu beef cuts fell around 30% from a year ago, bluefin tuna – deemed the best in Japan – fell more than 40% during that period, while Shizuoka’s popular ‘Earl’s melons’ prices dropped 30%. Russia’s largest breeding sturgeon business-Russian Caviar Shop-meanwhile gave Beluga hybrid caviar a 30 per cent discount.

“Spring and summer are always low seasons for the caviar market, but if we compare this period with previous years, the sales in Russia are down 50%,” said the firm’s owner Alexander Novikov.

In France, caviar prices languished near historic lows, champagne sales tumbled, while foie gras producers have had to cut output to prop up prices. Cifog, a foie gras producers’ group, said restaurants account for 40% of total foie gras sales. “Mid-March it felt like the sky had fallen on us,” said Florian Boucherie, who produces 2 tonnes of foie gras per year in France.

To plug the yawning gap left by eateries, many high-end food producers are attempting to reach consumers directly via e-commerce platforms. Others are steering more produce onto supermarket shelves. “We are accelerating our supply of products into some of the world’s largest supermarkets, gourmet butchers and direct to consumers online,” said Hugh Killen, chief executive of Australia’s largest listed beef producer, Australian Agricultural Company.

In Japan, top sushi chefs pay 400,000 yen ($3,737.97) for 10kg of the best cuts of tuna compared to the 25,000 yen paid by supermarkets for 10kg of lower value cuts, said Yukitaka Yamaguchi, owner of Yamayuki tuna brokerage at Toyosu Market in Tokyo. He said “the best part of (the) tuna” was usually sold first to high-end sushi restaurants but when these closed the “harakami had nowhere to go.” They eventually started offering high-quality tuna to fish retailers and supermarkets. For now, Yamaguchi has had to park plans to retire as he has accumulated debt during the pandemic. “I had planned to retire when I turn 60, but that’s no longer possible,” he said.

Source:https://in.reuters.com/article/health-corononavirus-food-premium/luxury-food-industry-turns-sour-amid-global-coronavirus-lockdowns-idINKBN23J0SR

Spike in household savings expected due to covid-19

Due to forced slowdown in COVID-related consumption household savings are expected to spike in Q1’20-21. This will come in handy to finance the economy’s recovery, an RBI research paper said as it is the Indian economy’s most reliable and self-reliant source of capital.

In this time of layoffs and the economy is absolute turmoil, this research comes as a beacon of hope.In India, as compared t other countries saving has been considered very important, especially by middle-class families.Due to our mindset and traditional values saving has always been preferred over spending . In fact consumerism came very late to India in comparison with other countries that achieved independence from colonial powers around the same time that we did.A lot can be attributed to the fact that the standard of living in our country had been stagnant for a very long period of time.

Only in the last decade or two, the standard of living of masses have some how increased, this can be mainly attributed to increase in the country’s overall literacy rate, for both men as well as women and also rapid infrastructural development that we have witnessed since the turn of the century.One of the many policies of this government that played a major role in this would be the 1990 Economic Policies, this particular policy has drastically changed the prevalent economic structure of the country.One of the important implementations of the policy was the opening up of the country’s economy and integrating ourselves with the world economy.This created a healthy competition in the economy which motivated Indian firms to increase the quality of their product to be at par international standards

A spike in households’ net financial assets is likely due to a sharp drop in lockdown-induced consumption in the first quarter of 2020–21. According to the paper written by Anupam Prakash, Anand Prakash Ekka, Kunal Priyadarshi, Chaitali Bhowmick and Ishu Thakur of the RBI Department of Economic and Policy Research, several studies show that households tend to save more during a slowdown and income uncertainty.

After the nationwide lock-down to combat the COVID-19 pandemic, economists forecast an ever worse contraction of the Indian economy during FY’21. The paper also warns that lags in the pickup of economic activity may cause households’ financial surplus in subsequent quarters to taper off. With construction activity at a standstill, households are likely to move from physical assets such as residential property to financial assets such as deposits, currency, and mutual funds, and are more useful in financing businesses and the growth of the economy. At Rs 15.6 lakh crore, India’s net financial savings rose to 7.7 per cent in FY’20 as of March 2020 from 7.2 per cent in FY’19.

For the Indian economy, the report notes, the household sector is the most sustainable and self-reliant source of finance. In the light of the policy initiative gathering critical mass to lift the Indian economy from the vice-like grip of a recession and, more recently, the life-threatening COVID-19 pandemic, it said, its position is likely to become crucial.

The Indian households hold financial assets or financial savings in currency, bank deposits, debt securities, mutual funds, insurance , pension funds and small savings. Currency and bank deposits accounted for 66 per cent of overall financial assets, led by pension companies and mutual funds contributing 30.2 per cent respectively. Such in-turns are strong sources of company financing.

Source:https://economictimes.indiatimes.com/news/economy/finance/covid-related-consumption-crunch-may-spike-q1-household-savings/articleshow/76322161.cms

Creative E-MAIL WRITING: 5 Sample drafts for cart abandonment mails.



● IS YOUR INTERNET CONNECTIVITY ALRIGHT?
We got a bit concerned when you were browsing through this amazing xyz product and chose to just leave it there in the cart itself. Given the stupefying list of its features, you wouldn’t surely want to miss out on bringing this home. No we aren’t exaggerating but working towards your best interest. Check out some reviews here and decide for yourself. Thankyou and Good Luck shopping.

● DID YOU JUST LEAVE YOUR SHOPPING CART AT THE STORE?
Oops! Seems like you spent decent hours browsing through the right products, discussing their specifications and prices and then finally shortlisting it, you added them to the cart. But you haven’t made the purchases yet, all of your items are waiting to be delivered to you. Go, proceed with the payments and say yes to a new, more lavish lifestyle.
Thankyou and Good Luck Shopping.

● YOU WERE SO CLOSE!
Yes, you heard it right! You were SO close to trying the amazing goodies and services available at the xyz shopping platform. You would surely not want to miss out on the products that you shortlisted yourself. So here we are again, sliding into your emails to remind you about making your purchases and bringing the items home that have overstayed in your cart. Check out some customer reviews which might tempt you to place the order. Here’s to effective and affordable shopping.

● WE MISS YOU! GET US HOME SOON!
Well yes, that’s the *cries* of the abandoned superbly functional items that you shortlisted yourself while browsing through the xyz website. Seems like you liked them but somehow weren’t still convinced to bring them home yet. Here, check out some reviews which might trigger a change of mind. Thankyou and Good Luck Shopping.

● YOUR CART MIGHT JUST OVERFLOW!
Hi! A friendly reminder that your shopping cart is full right now and needs to be emptied before you can continue shopping again at your most favourite shopping portal. So don’t waste any more time, h ead straight to the xyz website, make the payments and go grab your favourite products. Thankyou and Good Luck Shopping.

EXECUTING SUCCESSFUL BUDGET-FRIENDLY COLLABORATIONS WITH CELEBRITIES.‎ How to do and Why is it required?



For a large-scale promotion of the campaign, say a physical activity driven campaign which would emphasise  the benefits of regular exercising & staying fit and is less about preaching the nutritional value of particular foods. I reckon that we should use TV and Social Media preferably Instagram or Facebook. Nextly, we need to lookout for affordable and successful collaborations with a trending or in-buzz celebrity. The contact details including the email id and phone numbers of their managers are rightly mentioned in their Instagram bios and Facebook official pages. We can shortlist a few celebrities and then finalize one or two of them as per the budget. We can create illustrative posters, banners and post it on our social media handle under the brand name “play to slay the calories”,  “stay fit to be hit” etc.
Once we have officially communicated our needs to the celebrity, we can ask the him to repost our posters on his account and encourage his audience to engage in physical activities. We need to hand over short scripts enlisting the agenda of our mission to him and ask him to make videos to be uploaded on Instagram story campaigning for our brand and helping it grow eventually. I am sure the active followers upon his advice would record the videos of them exercising or playing an indoor/outdoor sport along with all the members of the family which includes both the young and the older generation and when they would put up those videos on the social media then the the celebrities should be asked to repost the best entries on his page. We are well aware of the fact that whatever a celebrity does tends to attract a lot of media attention so automatically the videos would reach other platforms like TV news and articles by leading media portals i.e Pinkvilla. When people would see others gaining overnight fame and becoming a sensation just because a celebrity posted their exercising or playing video on their page then people would get enticed and also motivated to be promoted on the official page of celebrities like Asim Riaz of Bigg Boss 13 who was trending almost everyday on Twitter. I witnessed people going mad for him. They even overcrowded a mall in Mumbai because of a rumour that he was going to visit as a part of a big boss task.
‎As per the budget we can also go for a young sporting athlete preferably from the Indian cricket team or any IPL franchise because if sportspersons promote fitness then the whole idea is accepted more widely and they have a larger fan base, not confined to any particular age group. Meanwhile on our social media handle, We will keep posting stats like 1 out of 3 people haven’t done any physical activity in the last year to appeal to their emotional conscience. And you never know, people might actually feel motivated to step out. We can use catchy captions like being active on social media isn’t being truly active. We will also keep posting regular videos i.e yoga tutorials or in other ways that would tempt them to make videos by going out and playing so as to get featured on a celebrity page. This way without the expenditure of much money or resources our job would also be done, people would exercise as well, our campaign would also get promoted and our brand name would also grow by utilising the fame of a particular celebrity.
‎The reason this idea popped up in my head was because I checkout Alia Bhatt’s Instagram stories of June 5 where she asked people to upload a selfie with plants on the occasion of World Environment Day and within 4 hours social media flooded with so many of them because 7-8 lucky peoples’ stories got mentioned in Alia Bhatt’s stories. Liked the idea?

3 months given to unlisted bond issuers in debt funds to list by sebi

India’s Securities and Exchange Board (Sebi) has issued unlisted non-convertible debentures (NCDs), where mutual funds are mostly the investors, a three-month one-time window for listing has been allocated to such schemes.

A letter was sent to asset management companies late Tuesday, acoording to SEBI, stating that , starting June 15, a window would be made available to issuers who have outstanding unlisted NCDs as of March 31 without having to comply to the requirement and the guidelines on the electronic bidding platform. Mutual funds are however required to keep issuers informed of this window.

According to a copy of the letter with LiveMint , the letter stated “This is another step towards ensuring that debt mutual fund schemes hold only 10% in unlisted debt. Mutual funds have time till end of December to comply with the norms. The existing unlisted remains grandfathered. The listing would entail higher compliance and disclosures.”

The schemes had to meet the investment limits for non-listed non-convertible debentures (NCDs) at 15 percent and 10 percent of the debt portfolio by 31 March and 30 June respectively. These dates were subsequently extended to 30 September and 31 December respectively due to COVID-19 related disruptions. This additional move is to have liquidity for certain papers that are not listed. Exchanges require for the listing of fresh NCDs and not current unlisted ones, said asset management company’s CEO.

“In addition, it permitted mutual funds to grandfather the existing investments in unlisted debt instruments till maturity of such instruments, so as to not disrupt the market,” said Sebi.

According to Sebi communication, if issuers of non-listed NCDs take advantage of the opportunity of one-time listing and submit their application for listing but unduly delay in getting their NCDs listed, they would be required to pay additional 1 percent coupon to investors. On Wednesday the Asset Management Companies (AMCs) were advised by the Association of Mutual Funds in India (AMFI) that they would take full advantage of the opportunity and act immediately.

“There are about 121 companies which haven’t listed their debs. Franklin Templeton is the largest owner of unlisted debts among mutual fund houses. We will request all of invester companies to list their debts,” said the CEO of a large fund house, anonymously.

MF industry holds about 41,500 crore of non-listed NCDs in all schemes, excluding liquid schemes as of March 31. The six debt schemes that are under the winding-up process hold a large chunk of these unlisted debts. Many of these NCDs are issued and used to be considered liquid investments by marquee issuers. Those have been illiquid in the new covid-19 scenario due to market uncertainty, raising problems for the mutual funds.

“Further, some of the same issuers’ listed NCDs issued after 1 October trade regularly, but the unlisted NCD of the same issuer with the same rating and potentially a shorter maturity has become completely liquid. This has been adversely impacting the performance of various mutual fund schemes investing in debt instruments,” said an AMFI member.

“While Sebi has facilitated listing of unlisted NCDs many marquee issuers such as Tata Sons are unwilling to list their bonds. Perhaps they would make up the 10% of the unlisted debt still allowed,” said an official of a fund house.

Source:https://www.livemint.com/news/india/sebi-gives-3-months-to-unlisted-bond-issuers-in-debt-funds-to-list-11591790405023.html

world’s largest vaccine manufacturer invests usd 100 million to develop potential Covid-19 vaccine

According to a company official of , the world’s largest producer of vaccines, the Serum Institute of India , is planning to invest USD 100 million on a potential vaccine for COVID-19,  being developed at Oxford University. The organization established in Pune, has collaborated with AstraZeneca, a British bio-pharmaceutical corporation mammoth, to ensure a stable supply to India and other low- and middle-income countries of the AZD1222 vaccines.

“Our manufacturing facility is ready and we plan to start production in two months. We are spending more than USD 100 million for this facility. Till the trials are completed successfully for safety and efficacy, vaccines will not be distributed either in India or anywhere else in the world,” Adar Poonawalla, Chief Executive Officer, Serum Institute of India (SII), said.

With high hopes the company is planning to mass produce up to a million units, and is planning to stockpile the same at personal risk. According to the company when it comes to determine how many units India is likely to get in the first phase, they commented that it might be too early too comment. “However, if the vaccine trials succeed, India will gain access to the doses as it will also be the requirement of the Government of India. And we are certain that everybody will respect if the substantial volumes go to India,” he added.

According to their website, Serum Institute of India was founded in 1966 by Dr. Cyrus Poonawalla with the aim of manufacturing life-saving immuno-biologicals, which were in shortage in the country and imported at high prices. Thereafter, several life-saving biologicals were manufactured at prices affordable, and now is the world’s largest vaccine manufacturer by number of doses produced and sold globally (more than 1.5 billion doses) which includes Polio vaccine as well as Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps and Rubella vaccines. It is estimated that about 65% of the children in the world receive at least one vaccine manufactured by Serum Institute. Vaccines manufactured by the Serum Institute are accredited by the World Health Organization, Geneva and are being used in around 170 countries across the globe in their national immunization programs, saving millions of lives throughout the world.

Serum Institute of India is ranked as India’s No. 1 biotechnology company, manufacturing highly specialized life saving biologicals like vaccines using cutting edge genetic and cell based technologies, antisera and other medical specialties.

Serum Institute of India also has plans and is working on developing a vaccine with USA based firm Codagenix, Poonawalla recently said that at present, the firm is undergoing pre-clinical trials (animal trial phase) and hope to progress to the human trial phase by September/October.

“The aim is to make the vaccine over the next 1.5-2 years to help combat the novel corona-virus. With the combined efforts of our partner Codagenix, we are optimistic that we will be able to provide a viable and effective vaccine for mass use,” Adar Poonawalla, Chief Executive Officer, Serum Institute of India (SII), said.

SII along with Oxford and Codagenix is also working with an Austria-based firm, Themis and two other promising candidates to develop an effective and affordable vaccine for COVID-19.At least half a dozen attempts to build a coronavirus vaccine are underway worldwide but the ones in Oxford are considered one of the most assuring and promising ones.   A vaccine will be a much needed intervention that can bring the loss of lives caused by the infections, to a complete halt.

Source:https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/serum-institute-investing-usd-100-million-on-potential-covid-19-vaccine/articleshow/76288408

what indian economy witnessing amid of the “corona kal”

Announcing this Pandemic corona Kal is little bit sarcastic because this must not stand for a long time. Over the last several months it had produced devastating results that shook this entire civilization of modern mankind deeply and profoundly. What it had perpetrate over the several months is far more than that could be happen in a ‘Kal’. Lakhs of people across the globe had loose their lives without committing any crime a direct verdict which did not even perform any trial or legal practices directly without any hearing clutched many lives brings a world of sufferings to their families nation and to the entire world.

Amid of this ongoing pandemic the Indian economy is facing Repercussion:

With the ongoing grief of many loosing lives and the infected ones and unimagined and numerous sufferings to their families there are also families those who are suffering live and terrible moments emerged because of ‘Hopes of returning home’, Extreme and harsh survival with the long routes to their homes, There is reverse migration swinging across the country on big level, poor living conditions continuous loose of livelihood without any social security and much more we are unable to create jobs hence employment in hands which had created a trauma and a significant question “will Indian Economy be capable enough to harness the demographic dividend in terms of employment opportunities ?”and why this question is crucial because the trends and symptoms our economy is projecting are intimidating. As per the foreign brokerage the India’s GDP forecast for this financial year will shrink by Approximately 2%,even some analyst predicted it to be as much as 5%.RBI had also expected a downfall in GDP in FY21(2020-2021).and as per a report India will can undergo recession in third quarter of this fiscal we already were the victims of Demonitisation India was running void of cash in hands hence demand was law already and with emergence of this Pandemic we run sort of incomes there is loss in incomes there is very meagre Employment there is definite depression in demand. apart from it banks also facing serious challenges because of bad loan levels and growing debts, banks NBFC’s are performing poorly risk Alienation increased as balance sheets of firms households grown weak .India is under lockdown since 25 march all the manufacturing across the country is at standstill there is disruption in supply and demand chain industries output shrank at 16.7% there is reverse migration is happening which country never sees before as all the manufacturing units had been shut down the backbone of employment the MSME’s facing tough time. we had obtained fiscal Deficiet in FY20 4.6% but due to cutting edge declination in GDP contraction the brokerage had revised it up-to 6.3%.All these above facts and figures trying to put the Portrait of our economy which is facing the tough time. Results and repercussions will be more intimidating.

There is huge challenge before the government how they are going to harness the demographic dividend of India which is India’s strength which was injected in 1980 and expected to end up-to 2040. Every fervent young hand need a job need a skill in his hand so that with his aspirations he can discharge its duties for nation building. Indian youth needs jobs creation apart from agriculture or Non-Agriculture Jobs. India’s spirit its youth needs a work in his hand. And it leaves a with a question Will Indian Economy be Capable enough to Foster employment for youths ? can we Harness the demographic dividend the real energy of Nation the INDIA ?

Swiggy to shut down it’s independently working food delivery service-scootsy.

Bangalore-based food-tech unicorn, Swiggy plans to close its on-demand online food delivery service Scootsy, a Mumbai-based startup which it acquired in 2018, for an estimated value of Rs. 50 Crore, to expand its operations in the online food delivery segment.

Scootsy,  was permitted to function as an independent app, serving food from a curated list of brands (such as Masque, Nara Thai, Royal China, Trattoria),gourmet food stores, and  bakeries after the takeover in Mumbai.

Swiggy is one of the many big Indian brands that have been adversely affected by the Corona-virus pandemic.Food delivery business in India saw a 70% drop in food order volume, with just 25% of listed restaurants operational.

In the past month, Swiggy has concentrated on luxury ‘curated’ consumer food delivery and has been linking itself to premier hotel groups like ITC Hotels, Marriott, Hyatt, KA Hospitality and such similar brands—to raise its average order volume and size on its website as it aims to benefit further from high-ticket size orders.

Thus the major food startup is planning to fully merge Mumbai-based Scootsy, an already premier food delivery brand , on its own platform and will redirect Scootsy’s customers to the Swiggy app. With this it will also undertake the transitioning of Scootsy’s partners and delivery fleet onto the Swiggy platform.

“Swiggy has seen a increase in demand over the past few months for customized food choices from premium brands. In order to extend our reach to all discerning consumers across Mumbai, we will be transferring the services provided by Scootsy to Swiggy ‘s platforms in the near future. This will be the first big step in setting up the premium category for Swiggy,” said a Swiggy representative.

Recently, gourmet restaurants have slowly begun to tap food distribution services such as Swiggy to ensure continuity of business as the industry expects  changes in consumer behavior toward eateries.

Source: https://www.livemint.com/companies

This Post is Licensed for Noncommercial Reuse..

It is my school’s policy that students and teachers use only copyright-free material. This makes sense hypothetically, but what does it actually mean? Where could this mysterious content be found?

After asking around, it became clear to me that copyright-free material was not understood by many other teachers as well. So how could we possibly teach and model finding such content for our students? Although it was part of my job to ensure students were only using copyright-free material, I knew very little myself about what can and cannot be used nevermind how to monitor this from my students.

However, teaching in a technology-focused school means the students use digital technology to create many of their projects. They take images, video clips, sound bites and more from the internet and to create their own products on a regular basis.

I decided to make it my mission to learn about copyright licensing alongside my students.

First, I compiled a list of websites with copyright-free material. I sent students to my Pinterest board of copyright-free resources.

However, my students thought Pinterest itself was all copyright-free material which could not be further from the truth. I witness numerous students searching for “copyright-free” content using the search bar of Pinterest!

I can see now why the students were confused.
So next, I modeled finding content using the Creative Commons website. This search engine links to various copyright-free sites. But students still struggled with the specific options on the different websites.
Luckily Creative Commons has a great resource to explain what each of the copyright permissions mean:

Reaching the Visual Learner: Software to Create Digital Posters or Infographics

Ever find yourself drawing incomprehensible doodles as you attempt to explain an idea to a student? I do all the time.

There is no doubt in my mind that I am a visual learner. I see this come out in my teaching, as I break down complicated ideas for my students in the same way I did to make sense of it for myself. Taking large amounts of text and synthesizing those ideas to create an aesthetically pleasing, symbol-saturated visual representation is something I truly enjoy doing.

Source: OnlineCollege.org

See my Pinterest board for resources to make digital posters or infographics as well as editing programs for photo manipulation:

Cris TurpleDigital Posters/InfographicsFollow On

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