Asia
The Hindu BusinessLine

Efforts on in EU to render basmati rice as a generic variety, denying protected geographical indication

Efforts are underway in the European Union (EU) to try to deny protected geographical indication (PGI) status for basmati rice from India and render it as a generic variety of the cereal. Some experts in Europe are claiming that the sales of rice labelled as fragrant rice are ten times the output in the origin areas. The experts, however, have no proof or laboratory findings to prove that 90 per cent of rice sold as basmati is non-basmati, said trade sources. Giving PGI status provides a country with the right to market a product exclusively, stating that it has unique properties and is specially grown in a particular region within its borders. It also gets a premium. In a video on the German media outlet DW, Delphine Marie‑Vivien of CIRAD, a French public agricultural research institution, said the area under cultivation in the basmati origin areas did not match the production. In 2024, she warned that a delay in granting PGI for basmati could make it a generic rice variety. In the same report, an unnamed European Commission (EC) source talked of a “balanced outcome” in the battle for PGI in the Union. The source spoke of separate protection for Indian and Pakistani basmati, while favouring a joint solution to the issue. The EU has been urging India and Pakistan to submit a joint application for a GI. However, experts say that such a move will compromise India’s sovereign rights, as Pakistan has given parts of India as regions where the long-grained rice is grown. India applied for PGI in July 2018, and the EU has been dragging its feet on the application. During this period, Pakistan applied for PGI in April 2024. There are three issues with the Pakistan application. One, it claims India’s basmati areas as its. Two, it says basmati is a shared product with India. Three, it got domestic PGI registration for its basmati only in 2021. This means the EU did not act on India’s application despite Pakistan not having a valid domestic GI registration and seems to have waited for Islamabad to complete the required formalities, trade sources said. Marie‑Vivien worked on basmati rice earlier under the EU-funded SINER-GI research project. It was intended to provide inputs for the EU’s GI policy. However, the project report disclaimed it represented the European Commission’s official position. Though the EU-India free trade agreement (FTA) was concluded in January this year, a separate agreement for GI products is under negotiation. EC records show GI negotiations only till March 2024, even though other negotiations with India have continued. Sources said this is proof that the EC did not want the basmati PGI issue to derail a wider trade agreement. However, it did not resolve the basmati issue either.

Efforts on in EU to render basmati rice as a generic variety, denying protected geographical indication
Asia
The Hindu BusinessLine

South Indian Bank appoints Mahesh Muralidhar Pai as new MD & CEO

South Indian Bank has announced that Mahesh Muralidhar Pai will take charge as its Managing Director & Chief Executive Officer from October 1. Mahesh Pai brings nearly three decades of experience across various facets of universal banking, including strategy, governance, digital banking, treasury, foreign exchange, retail banking, agriculture and MSME credit. Mahesh Muralidhar Pai, Managing Director & CEO, South Indian Bank, said, “South Indian Bank has a strong franchise, a robust balance sheet and significant growth opportunities ahead. My focus will be on driving our businesses, pursuing growth opportunities with discipline and strengthening our capabilities for a rapidly evolving financial landscape. We will remain focused on sharper execution, technology-led transformation and deeper customer relationships, while delivering sustainable growth for the bank and value for our stakeholders.” Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

South Indian Bank appoints Mahesh Muralidhar Pai as new MD & CEO
Europe
BBC Business

UK warned over ballooning debt costs and slower growth ahead of Budget

Image source, Getty ImagesByTom EspinerBusiness reporterPublished23 September 2026, 09:05 BSTUpdated 45 minutes agoThe UK has been warned over ballooning debt costs and slower economic growth ahead of Chancellor John Healey's first Budget next month. The UK was among countries facing downgraded growth forecasts in a report by the influential Organisation of Economic Co-operation and Development (OECD) on Wednesday. That came as the head of the International Monetary Fund (IMF) told the BBC that Britain and the US needed to reduce debt due to spiralling borrowing costs. The ongoing conflict in the Middle East and the Russia-Ukraine war has pushed up the cost of crude oil leading to higher fuel and energy costs, which in turn has driven up inflation around the world. The UK economy will grow by slightly less than expected next year, according to the OECD which now expects growth of 1% next year rather than 1.1%. However, it said the UK had proved more resilient than expected this year, upgrading its forecast for growth 0.9% to 1.1%. Meanwhile, IMF head Kristalina Georgieva told the BBC on Tuesday that global economic shocks had been "pushing debt levels up like a staircase not to heaven" but that governments had taken "no action to contain that service cost". "[It's] time to take that action," she said, adding that "courage" was needed by politicians to take the necessary steps. Inflation has also pushed up the cost of interest on government debt, which alongside an unexpected surge in government borrowing in August has added to the pressure on Healey. Prime Minister Andy Burnham has made easing the cost of living for households one of his key aims, while the government is under pressure to spend more on defence. However, Burnham and Healey face a difficult balancing act, trying to offer more support to households while sticking to Labour's manifesto commitments on tax and the government's self-imposed fiscal rules. The impact of higher fuel prices next year depends on how long supply disruptions last, the OECD said. Stockpiles of oil and supplies from outside the Gulf states have helped cushion the effects on economies so far, it said.

UK warned over ballooning debt costs and slower growth ahead of Budget
Europe
BBC Business

They were labelled 'pervert glasses'. Will a camera-free version transform their image?

They were labelled 'pervert glasses'. Will a camera-free version transform their image? ByZoe Kleinman, Technology editor and Luke Mintz, BBC NewsWhen Meta first launched its AI-powered smart glasses in 2023, in collaboration with the trendy sunglasses brand Ray-Ban, it unleashed a storm of controversy. There have been multiple reports of the devices being used to harass women and girls in particular, filming them without their consent, then sharing the footage. The image problem doesn't seem to have been cured by Meta's enlistment this summer of Kylie Jenner, Kim Kardashian's sister, as their prime model. The devices have been dubbed "pervert" or "creepy" glasses. In the UK, JD Wetherspoon pubs, a handful of major theatres, Comic-Con, some schools, and Faslane, home of the UK's nuclear submarines, have all chosen to ban them. On Thursday, Meta is unveiling a new version which does not contain a camera at all, called Ray-Ban Meta Audio. They will have the audio functions of the original glasses - including the ability to make phone calls or play music, with the sound funnelled directly into your ear - but with fewer implications for privacy. To some in the industry, it looks like an interesting pivot - a response, perhaps, to the backlash over privacy. The tech giant denies that the new glasses have been rushed out in response to public anger. They say the product has been in development for two years. The audio-only version is cheaper than its camera-enabled cousins, and Meta says it has a lighter frame and better battery life. When I put it to Meta Glasses' head of product Ankit Brahmbhatt that I thought they might overtake the original camera-enabled glasses in sales, there was a pregnant pause. "We have, I think, something for everyone," he said, choosing his words very carefully. Does the release of a camera-free option represent a shift in how tech companies see the future of smart glasses? And is Meta's original vision getting further away? Or should we see camera-free glasses as a niche side-product that serves a small market - a bit like how some mobile manufacturers are now releasing internet-disabled "brick" phones for people who are tired of social media? I was lent a pair of Meta Ray-Bans – with cameras - to try out. I was initially nervous about wearing them in public, in case someone got physical: I have heard of people knocking them off wearers' heads and smashing them in the street.

They were labelled 'pervert glasses'. Will a camera-free version transform their image?
Europe
BBC Business

How the oil capital of the US welcomed a solar power boom

Steve Cargil's family has farmed the flat, dry land around Uvalde, a small city in southwest Texas, since 1953. Cargil, 67, had always assumed that one of his three children would eventually take it over, the way he had from his father. Cargil and his son, Ryan, had spent months nursing crops of cabbage and onions to harvest. Then a storm rolled through and destroyed them overnight. "I remember my son saying, 'Dad, I just don't know if I can do this. You do everything right, and we work so hard, and you come out one morning and it's all gone'," Cargil says. Cargil's farm was at risk of ending with him, he says, with none of his three children wanting to farm full time. For years, that left him wondering what would happen to the land, and to his own retirement, since farmers rarely have a pension to fall back on. Then in 2001 Cargil signed a deal to lease 600 acres of his land, about a quarter of the total, to a company called OCI Energy which built a vast solar farm. "Never in my wildest dreams did I think that a solar project would be on my farm," Cargil says. Looking back now, he calls it a blessing. The lease, which pays Cargil $200,000 (£150,000) a year, has let him keep his farm running through a punishing drought. He has been able to concentrate his water irrigation allowance on the land he still farms, and he has stopped losing sleep over rises in the price of things such as diesel and fertiliser. "It's changed my life." Texas, which remains the largest oil producer in the US, earlier this year overtook California to become the country's biggest generator of electricity from solar farms., external And in March of last year, more electricity was produced by solar in Texas than from coal for the first time, according to the US Energy Information Administration. On hot afternoons, when demand for power peaks, solar is now regularly supplying around a third of the electricity used across Texas, says Mark Stover, executive director of the Texas Solar and Storage Association. He says that the solar boom is being driven by two main things. Firstly, it is cheap and quick to connect solar farms to Texas' power grid, which is separate to the rest of the US. Secondly, Texas has a huge and growing appetite for electricity, driven by a burgeoning population.

How the oil capital of the US welcomed a solar power boom
Asia-Pacific
Channel NewsAsia

Najib Razak's 'solidarity fund' raises US$2.27 million, still short of US$12.27 million target: DPM Zahid

The jailed former Malaysian prime minister’s eldest son told reporters that even if his father's frozen assets were released, his family would still be unable to immediately raise the fine for Najib to serve his sentence at home as part of a royal pardon. KUALA LUMPUR: Some RM9.25 million (US$2.27 million) has been raised to help jailed former Malaysian premier Najib Razak pay a RM50 million court-imposed fine for him to serve his sentence at home as part of a royal pardon. Meanwhile, his eldest son, Nizar Najib, said that even if his father’s frozen assets were released, his family would still be unable to immediately raise the RM50 million fine. The “Najib Razak Solidarity Fund” was organised by his United Malays National Organisation (UMNO) party on Sep 18 after Malaysia’s king Sultan Ibrahim Sultan Iskandar granted Najib a conditional pardon. The pardon allows him to serve the remainder of his six-year prison term - until Aug 23, 2028 - at home, subject to the payment of the fine, among other conditions. “As of 10am, we have collected RM9.25 million so far,” Deputy Prime Minister Ahmad Zahid Hamidi, who is also UMNO president, was quoted as saying on Sunday by local news outlet The Star. Zahid was speaking to reporters on the sidelines of the 18th annual general assembly of the Malaysian Makkal Sakti Party at the World Trade Centre Kuala Lumpur. “This is still insufficient to reach the RM50 million target. Efforts are ongoing to increase the crowdfunding and we hope our friends will be able to assist us in the near future to reach the amount set by the Pardons Board.” “The amount must be settled before the house arrest can be fully implemented,” Zahid added. The fund raised RM634,000 in its first three hours and reached RM1 million about a day after it was launched. It is unclear how UMNO is currently managing the donations, with no reported details on what would happen to the money collected if the amount falls short of of RM50 million. On Saturday, Najib’s eldest son, Nizar, said that if his father’s frozen assets were released, it "might help somewhat in raising the money".

Najib Razak's 'solidarity fund' raises US$2.27 million, still short of US$12.27 million target: DPM Zahid
Europe
BBC Business

Lidl banned from selling copycat Birkenstock sandals, Dutch court rules

Lidl must stop selling copycat versions of Birkenstock's famous sandals in the Netherlands, a Dutch court has ruled. The discount supermarket chain faces a fine of €5,000 (£4,200) per day if it fails to comply and must also hand over sales data to Birkenstock, according to the ruling. Lidl must also compensate Birkenstock and pay its legal fees, with the amount to be decided in separate court decisions. Birkenstock said the judgement sent a clear message that "copycats must not be allowed to free-ride on [our] creativity and innovation". The BBC has contacted Lidl for comment. The ruling, which can still be appealed against, means Lidl cannot sell its copycat versions of Birkenstock's Arizona, Madrid, Gizeh, Boston, and Florida models across the Netherlands, after the court found the discount grocer infringed on the brand's trademark "footbed design". In November 2025, a Dutch court order stopped retailer Scapino from selling similar lookalikes in a judgment which is being appealed against. However, Birkenstock also faced a setback in Germany's highest court in early 2025. The sandals may have been cool enough for Margot Robbie to wear in the Barbie film, but the German judges ruled they were practical products rather than works of art – an outcome Birkenstock called a "missed opportunity" at the time. Following Wednesday's ruling, Birkenstock said it will "continue to defend its rights vigorously and will use all available legal means to combat imitations of its iconic products". "To protect its retail partners and consumers, Birkenstock will continue to take decisive action against copycats seeking to profit from the company's creative ideas and innovations," it added. Birkenstock is far from the only fashion brand locked in battles with mass retailers over design mimicry. Footwear giants like Dr. Martens have repeatedly taken online big-box sellers to court over boot designs, while luxury house Christian Louboutin spent years in global litigation defending its signature red soles against high-street copycats.

Lidl banned from selling copycat Birkenstock sandals, Dutch court rules
North America
CNBC Finance

Wendy's franchisee files for Chapter 11 bankruptcy protection as burger chain struggles

Meritage Hospitality, one of Wendy's largest U.S. franchisees, filed for Chapter 11 bankruptcy protection on Thursday. The filing comes as the burger chain has struggled to win over diners who have become increasingly focused on value. For six straight quarters, Wendy's has reported same-store sales declines. A revolving door of chief executives in recent years has led to muddled turnaround strategies, and the company's stock has lost two-thirds of its value over the past three years. "Because the substantial majority of Meritage's restaurant portfolio operates under Wendy's brand, those system-wide pressures have had a significant impact on the Company's financial position," Meritage said in a press release announcing the filing. At an investor conference in June, Meritage CEO Bob Schermer Jr. said that store-level earnings before interest, taxes, depreciation and amortization had plummeted 48% in 2025. Rising beef costs and increased discounts weighed on the franchisee's profits. Meritage said it filed for bankruptcy to strengthen its balance sheet, and the company plans to keep its restaurants running during the restructuring process. Meritage operates 314 Wendy's restaurants across 15 states, as well as one Bojangles location and five independently branded stores. Meritage estimated that its assets are valued at $10 million to $50 million, with liabilities within the same range, according to a filing with the U.S. Bankruptcy Court for the Western District of Michigan. Quality Is Our Recipe LLC, the legal name for Wendy's franchise business, is listed as its top unsecured creditor with a claim of $24.9 million for deferred franchise fees. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Wendy's franchisee files for Chapter 11 bankruptcy protection as burger chain struggles
North America
Yahoo Finance

Midterm elections: What do equity markets typically do and what is priced?

Investing.com -- U.S. stocks have historically gained in the months following midterm elections, with the S&P 500 typically experiencing heightened volatility in September and October before stronger performance toward year-end and into the following spring, according to a UBS research note. The S&P 500 has gained an average 14.5% from the end of August through the end of March in midterm election years since 1950, with a median return of 16.4%, UBS strategists said. The period has typically sta

Midterm elections: What do equity markets typically do and what is priced?