LCTEOTD

 

1. Jubilant FoodWorks opens Dunkin' Donuts first store in India

Jubilant FoodWorks, the Indian distributor of Domino's Pizza, on Tuesday opened American doughnut brand Dunkin' Donuts first store in India, and plans to invest around Rs 12 crore to roll out 10 stores this fiscal."There will be a mix of flagship stores, stores in malls and kiosks," said Jubilant FoodWorks Limited (JFL) CEO Ajay Kaul during the opening of first store at Connaught Place in New Delhi, adding that the restaurants would be branded as 'Dunkin' Donuts & More' in the country.Dunkin' Donuts will compete in India with companies such as Cafe Coffee Day, run by Amalgamated Bean Coffee Trading Co., Lavazza SpA's Barista Coffee Co., and Starbucks Corp., which plans to open its first India store in August through its partnership with Tata Global Beverages.

http://timesofindia.indiatimes.com/business/india-business/Jubilant-FoodWorks-opens-Dunkin-Donuts-first-store-in-India/articleshow/13061819.cms

2. India to Dethrone Thailand, Vietnam as Top Rice Exporter

India, the largest rice grower after China, is poised to rival Vietnam as the world’s biggest shipper, ending Thailand’s 30-year reign, after favorable weather and higher government prices boosted the harvest to a record.Exports may climb to 7 million metric tons in the year ending Aug. 31, said Samarendu Mohanty, a senior economist at the International Rice Research Institute. That’s more than double the 2.8 million tons shipped in 2010-2011, according to the U.S. Department of Agriculture. Vietnam will export 7 million tons and Thailand 6.5 million tons, USDA data show.Rice, the staple for half the world, has slumped 17 percent since reaching the highest price since 2008 in September after India ended a three-year ban on exports of non-basmati varieties. Prices will probably stay under pressure in coming months as global production outpaces demand for an eighth year. That may extend a decline in global food costs, which fell for the first time this year in April, United Nations data show. Thailand was the top shipper last year with 10.6 million tons.

http://www.bloomberg.com/news/2012-05-09/india-set-to-pass-thailand-rival-vietnam-as-top-rice-exporter.html

3. Kishore Chhabria's whiskey brand Officers Choice now No. 1

Kishore Chhabria, a teetotaler, is on a high, virtually. "We've a long way to go in the spirits business. We want to improve our bottom line," says Chhabria, who's sparred in the past with his own brother, the late Manohar Chhabria, and his partner- turned rival Vijay Mallya, and survived.Officers Choice, the whiskey brand he helped create from scratch, has broken the seven-year-old reign of Vijay Mallya's Bagpiper Whiskey, to become the largest selling Indian spirits brand. Global drinks analysts now rank the brand the world's No. 1 by volume. Allied Blenders & Distillers ( ABD), the fledgling spirits company owned by Chhabria, is now changing strategy as it tries to reduce dependence on a single brand - Officers Choice.

On the anvil are a line of new spirit brands, which will reduce dependence on Officer's Choice. Lord & Master Brandy, Jolly Roger Rum and Officer's Choice Blue, a semi premium whisky, will be the new engines to grow the 1,600-crore liquor firm. This year, Officer's Choice Blue will exceed one million cases and the thrust in the coming months will be to grow new brands.

http://economictimes.indiatimes.com/news/news-by-industry/cons-products/liquor/kishore-chhabrias-whiskey-brand-officers-choice-now-no-1/articleshow/13002224.cms

Let’s count the events of the day

 

 

1. Hutchison Whampoa Said to Bid EU2 Billion for Eircom

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. (13) made a bid of about 2 billion euros ($2.6 billion) for Eircom Group, the Irish phone company in supervised credit protection, people with knowledge of the matter said.

2. Manchester City Signs Deal With Nike as Team Uniform Supplier

Manchester City, owned by a billionaire member of the Abu Dhabi royal family, signed a six-year agreement with Nike Inc. to have the world’s largest sporting-goods maker supply the soccer team’s uniforms.

 

3. ‘The Scream’ Sells for Record $120 Million at Sotheby’s

Sotheby’s (BID) managed a record price and sale tally at last night’s auction in New York, even as 15 lots went unsold.

The star was one of Edvard Munch’s four versions of “The Scream,” which set a record for a work of art at auction when it sold for $119.9 million.

“The Scream” smashed the previous record of $106.5 million, established in May 2010 by Pablo Picasso’s “Nude, Green Leaves and Bust.” The price for the Munch, which includes Sotheby’s $12.9 million commission, exceeds Christie’s entire Impressionist and modern art sale the night before.

4. Samsung Galaxy S3 to hit Indian markets soon

The much-awaited Samsung Galaxy S-III smartphone, which was unvieled here last evening, is expected to hit the Indian markets soon.
The Galaxy S-III model would be available in the European market towards the end of the current month and subsequently in the other parts of the globe from June onwards, Samsung Electronics President and Head of IT & Mobile Communications Division J K Shin said.

5. Govt plans to set up fund for buying overseas coal assets

NEW DELHI: Coal Minister Sriprakash Jaiswal today said the government is planning to set up a fund for acquiring of coal assets abroad and urged public sector companies to be proactive in making decisions on foreign investments.
The fund would be similar to a sovereign wealth fund. The Minister's comments come against the backdrop of severe coal shortage hurting power, steel and other sectors.
Jaiswal said even though Coal India Ltd (CIL) has surplus resources for investing outside, it is important to have financial support from the government for acquiring large assets abroad.