Haldiram’s: India’s beloved snack maker eyed by foreign investors Blackstone, UAE wealth fund

A view shows packets of snacks on the shelves inside a Haldiram's restaurant in Mumbai, India, on September 6, 2023. (REUTERS/File)
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Updated 14 May 2024
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Haldiram’s: India’s beloved snack maker eyed by foreign investors Blackstone, UAE wealth fund

  • Haldiram’s started in 1937 from “tiny shop” in Bikaner in desert state of Rajasthan
  • Haldiram’s has almost a 13% share of India’s $6.2 billion savoury snacks market

From fried Indian snacks to local sweet delicacies, family-run Indian snack maker Haldiram’s has long been one of the country’s most popular food brands. Now, foreign investors like Blackstone and Abu Dhabi Investment Authority want a big bite of it.

Haldiram’s was last year also an acquisition target for India’s Tata Group, one of the country’s biggest conglomerates.

Here are some facts about the popular Indian brand:

* Haldiram’s started in 1937 from a “tiny shop” in Bikaner in the western desert state of Rajasthan. It later expanded to New Delhi in 1983.

* The company’s website says it has 1,000 distributors and its products are available in 7 million outlets. It also exports to many foreign countries including Japan, Russia, United Kingdom and Australia.

* One of its most popular snacks is “bhujia,” a crispy fried Indian snack made with flour, herbs and spices and sold for as little as 10 rupees (12 US cents) across mom-and-pop stores. Haldiram’s calls it “an irresistible Indian snack” which can “captivate your taste buds.”

* Haldiram’s started exporting products in 1993. The US was its first market, where it began with 15 savoury products, and later, in 2016, opened its first overseas factory in the UK.

* Beyond snacks, Haldiram’s also sells ready-to-eat and frozen foods such as Indian curries and rice items. It also runs more than 150 restaurants which sell street-style Indian food, as well as Chinese and western cuisine.

* Last year, during deal talks with Tata, Haldiram’s was seeking a $10 billion valuation. Reuters has previously reported Haldiram’s annual revenues are around $1.5 billion.

* Haldiram’s has almost a 13% share of India’s $6.2 billion savoury snacks market, Euromonitor International estimates.

($1 = 83.5200 Indian rupees)


Rishi Sunak’s D-Day departure is just the latest in a long line of gaffes in UK election campaigns

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Rishi Sunak’s D-Day departure is just the latest in a long line of gaffes in UK election campaigns

  • Sunak apologized for not attending Thursday’s final commemoration on Omaha Beach in Normandy
  • His critics said the decision showed disrespect to the veterans and diminished the UK’s international standing
LONDON: The decision by British Prime Minister Rishi Sunak to leave D-Day commemorations in northern France early has caused a political storm that threatens to derail his Conservative Party’s general election campaign.
Though Sunak apologized for not attending Thursday’s final commemoration on Omaha Beach in Normandy, his critics said the decision showed disrespect to the veterans and diminished the UK’s international standing. Other world leaders including President Joe Biden, French President Emmanuel Macron, German Chancellor Olaf Scholz and Ukrainian leader Volodymyr Zelensky were all present.
Keir Starmer, the leader of the main opposition Labour Party, remained to the end and said it was up to Sunak “to answer for his choice” to skip the D-Day event.
With opinion polls giving Labour a commanding lead ahead of the election on July 4, Sunak’s gaffe has raised concerns that the Conservatives’ support may come under further pressure over coming days.
Campaign gaffes are regular features of British elections. Some have more impact than others.
Here are a few that have lit up campaigns in recent decades:
1974
Following a difficult few years in government that saw oil prices quadruple following the Yom Kippur war between Israel and Arab nations and the miners’ strike causing widespread economic pain, then Conservative Prime Minister Ted Heath called a general election a year earlier than necessary for February 1974.
On explaining his decision to hold the election in the midst of a winter when power was being rationed, Heath said that he sought a mandate from the British people to rein in the power of trade unions. His question to the public was “Who governs Britain?” Ultimately, the British people decided it wasn’t Heath, and Labour’s Harold Wilson returned as prime minister.
1983
Following the Falklands War in 1982 in which British forces sailed thousands of miles to the South Atlantic to expel invading Argentine troops, Conservative Prime Minister Margaret Thatcher was riding high and was widely expected to win the general election she called for June 1983.
Her victory in the election became more or less assured after Labour, which had been riven with divisions over the previous few years, published an election manifesto that one moderate member of the party described as “the longest suicide note in history.” The manifesto advocated an array of radical left-wing policies to be funded by higher taxes. It also called for unilateral nuclear disarmament and withdrawal from what was then the European Economic Community — a policy that the Conservatives decades later would embrace.
Thatcher won a landslide and remained in power until 1990 when she was ousted by lawmakers in her own party.
1992
After 1983’s big defeat, the Labour Party sought, under the leadership of Neil Kinnock, to move back to the center ground, where historically elections are won.
By the time the election was called for April 1992 by John Major, who replaced Thatcher, Labour was contending again. With a week or so to go before the elections, opinion polls were moving in favor of Labour, if not quite winning then becoming the biggest party.
A rally was held in Sheffield, a city in the north of England, and optimism was high. It was an event unlike anything seen before in the UK — more like an event seen in US presidential elections.
Kinnock was clearly caught up with the buoyant mood and started shouting a phrase that sounded like “We’re alright!” or “Well alright” several times.
Whatever he actually said, his perceived overconfidence was widely perceived to be one of the reasons why Labour fell way short and the Conservatives won a fourth straight election.
2001
With hindsight, this was one of the most boring postwar elections, with Tony Blair’s Labour Party widely expected to be re-elected by a big margin, akin to the one it achieved four years earlier.
The election took place a month later than Blair had planned in June 2001 as a result of an outbreak of foot and mouth disease. Nothing else surprising happened, until Blair’s deputy John Prescott punched a man with a mullet hairdo after he had thrown an egg at him on the campaign trail.
The incident threatened to derail Labour’s campaign, but Blair managed to defuse its impact at the following morning’s press conference. “John is John,” he said, to widespread laughter among the journalists present.
2010
Blair’s successor Gordon Brown didn’t have his predecessor’s natural communications skills and that was particularly evident in the election campaign of 2010. Brown’s ratings — and Labour’s — had collapsed in the wake of the global financial crisis and the party, in power since 1997, faced losing to the Conservatives.
With barely a week to go to the May election, 65-year-old Gillian Duffy quizzed Brown while he was canvassing over the state of the economy and the party’s immigration policies.
Following her interrogation and still wired up to Sky News when he got into his car, Brown told his advisers that the meeting was a “disaster” and that she was “just a bigoted woman.”
The gaffe dominated the rest of the campaign and there was no way back for Labour, though the Conservatives failed to win an outright majority and David Cameron had to enter into a coalition arrangement with the smaller Liberal Democrats.
2017
Theresa May, who succeeded Cameron after he resigned following Britain’s vote to leave the European Union in a referendum in June 2016, sought to capitalize on the Conservative Party’s big opinion poll lead and called an early general election for June 2017.
Her hope was that a big majority would help her face down critics — both within her ranks and the opposition — in the upcoming Brexit discussions with the EU.
However, her proposal to change the way retirees pay for long-term care was criticized across the political spectrum and was quickly dubbed the “dementia tax.” May was forced to make an embarrassing partial reversal.
Rather than increase the modest majority that Cameron had secured in the 2015 general election, she lost it. Her premiership never recovered and she was replaced by Boris Johnson two years later.

South Korea on alert for more trash balloons from the North

Updated 1 min 32 sec ago
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South Korea on alert for more trash balloons from the North

  • In two waves last week, North Korea sent hundreds of balloons with bags of trash into the South
  • The balloons were found to be carrying garbage such as cigarette butts, cardboard scrap and waste batteries
SEOUL: South Korea’s military said it was on alert for more trash-carrying balloons possibly arriving from North Korea on Sunday.
In two waves last week, North Korea sent hundreds of balloons with bags of trash into the South, describing them as a response to anti-Pyongyang propaganda balloons sent the other way by South Korean activists.
Pyongyang announced a halt to the balloons on Sunday but days later, a South Korean group called “Fighters for Free North Korea” said it had sent 10 balloons with K-pop music and 200,000 leaflets against leader Kim Jong Un.
The South Korean military is “closely monitoring with vigilance” because of “the possibility of more trash balloons descending around tomorrow,” its spokesperson said on Saturday.
North Korea had said it would respond with “wastepaper and rubbish” a hundred times the amount if more South Korean leaflets were sent.
The North Korean balloons last week landed in a number of locations in the South, and were found to be carrying garbage such as cigarette butts, cardboard scrap and waste batteries.
In response to the balloons, South Korea on Tuesday completely suspended a 2018 military deal with the North, which was meant to reduce tensions between the neighbors.
Authorities in Seoul have condemned the North Korean balloons as a “low-class” act and threatened countermeasures that it said Pyongyang would find “unendurable.”
Activists in South Korea have long sent balloons northwards, filled with anti-Pyongyang propaganda, cash, rice, and Korean TV series on USB thumb drives.
These have always infuriated North Korea, whose government is extremely sensitive about its people gaining access to South Korean pop culture.
Kuensaem, another South Korean activist group, said that it threw 500 plastic bottles into the sea on Friday near the border with North Korea.
The bottles were filled with rice, cash and a USB drive with the South Korean series “Crash Landing on You” — which features a romance between a wealthy South Korean heiress and a North Korean army officer.
The group has been doing this twice a month since 2015.
“We were just doing what we’ve been doing for a long time to help North Koreans who are starving,” the group’s leader Park Jung-oh said Saturday.
Tensions over the duelling propaganda have boiled over in dramatic fashion in the past.
In 2020, blaming the anti-North leaflets, Pyongyang unilaterally cut off all official military and political communication links with Seoul and blew up a disused inter-Korean liaison office on its side of the border.
Last year, South Korea’s Constitutional Court struck down a 2020 law that criminalized the sending of anti-Pyongyang propaganda, calling it an undue limitation on free speech.
Kim Jong Un’s powerful sister Kim Yo Jong mocked South Korea for complaining about the balloons last week, saying North Koreans were simply exercising their freedom of expression.

Afghanistan stun New Zealand in T20 World Cup clash

Updated 2 min 23 sec ago
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Afghanistan stun New Zealand in T20 World Cup clash

  • Fazalhaq Farooqi and Rashid Khan both took 4-17 as New Zealand were bowled out for 75 runs in the 16th over
  • Rahmanullah Gurbaz, Ibrahim Zadran shared second consecutive century stand to lead Afghanistan to 84-run win

PROVIDENCE: Rahmanullah Gurbaz and Ibrahim Zadran shared a second consecutive century stand which led Afghanistan to an 84-run win over New Zealand on Friday and put it in charge of Group C at cricket’s Twenty20 World Cup.
Gurbaz and Ibrahim put on 154 in a 125-run win over Uganda in Afghanistan’s opening match and made 103 for the first wicket in a total of 159-6 as Afghanistan batted first after New Zealand won the toss.
Fazalhaq Farooqi and Rashid Khan both took 4-17 as New Zealand was bowled out for 75 in the 16th over, its fourth-lowest T20 total.
Gurbaz and Ibrahim are only the third pair and first openers to post back-to-back century partnerships at a Twenty20 World Cup. They stayed together until the 15th over Friday when Ibrahim was out for 44 from 41 balls.
Gurbaz finally was out in the 20th over, having made 80 from 56 balls with five fours and five sixes. The Afghanistan innings contained nine sixes and 10 fours.
“We were waiting for this match for the last three years,” Gurbaz said. “We played them at the World Cup three years ago and they beat us. Finally we beat them. We had the trust and belief in ourselves from the very start.”
New Zealand came into the tournament as one of the favorites after reaching at least the semifinals at the last six white-ball World Cups — 50-over one-day internationals and Twenty20 matches.
But it also came into its opening match with no local warm-up match and with most players having been inactive for some time. That showed in the field where their performance featured dropped catches, overthrows and misfields.
“Afghanistan outplayed us in all facets of the game,” New Zealand captain Kane Williamson said. “From our perspective it wasn’t good enough in terms of starting a tournament. Very frustrating.”
Earlier Friday in Dallas, Nicholas Kirton scored 49 off 35 balls to help Canada earn its first win at a T20 World Cup by 12 runs over Ireland. In the third match Friday in New York, Bangladesh beat Sri Lanka by two wickets with six balls remaining in a tense match, consigning Sri Lanka to its second consecutive loss in Group D.


Texas bird flu strain kills ferrets used to mimic disease in humans, US CDC says

Updated 14 min 16 sec ago
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Texas bird flu strain kills ferrets used to mimic disease in humans, US CDC says

The bird flu virus strain that infected a Texas dairy farm worker in March was lethal to ferrets in experiments designed to mimic the disease in humans, the US Centers for Disease Control and Prevention (CDC) reported on Friday.
Seasonal flu, by contrast, makes ferrets sick but does not kill them, the CDC said.
Ferrets are considered the best small mammal for studying influenza virus infection and transmission and are commonly used as a tool to inform public health risk assessments of emerging influenza viruses, according to the CDC.
The strain of the (A)H5N1 avian influenza virus found in Texas spread easily among healthy ferrets when they were placed in direct contact with infected ferrets, the researchers found.
The virus was less efficient than other influenza strains at spreading by respiratory droplets, however.
This suggests that viruses like this one “would need to undergo changes to spread efficiently by droplets through the air, such as from coughs and sneezes,” the CDC said.
Bird flu has been reported in more than 80 dairy herds across 11 US states since late March. Scientists are on alert for changes in the virus that could signal it is adapting to spread more easily among humans.
Reuters reported earlier on Friday that US federal and state agencies are planning research into potential respiratory spread of bird flu among dairy cattle in a move aimed at guiding efforts to contain the virus and reduce exposure to humans. Respiratory spread could give the virus more opportunity to evolve, they said.
The US, Mexico and Australia have reported a total of five human cases of different versions of H5 bird flu since March. The three US cases were mild, with two dairy workers — one infected in Texas — experiencing just conjunctivitis, or pink eye, while a third case involved some respiratory symptoms.
The man in Mexico, who had other chronic conditions, died from multiple factors, the WHO said on Friday.
The new findings in ferrets “are not surprising and do not change CDC’s risk assessment for most people, which is low,” the agency said.
“The results do reinforce the need for people who have exposure to infected animals to take precautions and for public health and agriculture communities to continue to work together to prevent the spread of the virus to additional dairy herds and people.”


Slovakia begins EU vote in wake of PM shooting, Meloni’s Italy next

Updated 54 min 5 sec ago
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Slovakia begins EU vote in wake of PM shooting, Meloni’s Italy next

  • Most of the EU’s 27 countries – including powerhouses Germany and France – will hold their votes on Sunday

BRUSSELS: Slovakia on Saturday opened its polling stations in EU-wide elections, under the shadow of last month’s shooting of Prime Minister Robert Fico.

It marked the halfway point of the four days of elections across the bloc to choose the next European Parliament.

Most of the EU’s 27 countries – including powerhouses Germany and France – will hold their votes on Sunday.

But Italy, the EU’s third-biggest economy, will start voting later Saturday, with its results likely to have a big impact on how the parliament is configured and on the future course of the bloc.

In Slovakia, the May 15 assassination attempt on Fico by a 71-year-old poet rocked the nation of 5.4 million and spread shockwaves across the EU.

A visibly thinner Fico had issued a pre-poll video describing his attacker as “an activist of the Slovak opposition” which he accused of “aggressive and hateful politics”.

“It was only a matter of time before a tragedy would occur,” the four-time PM said in the 14-minute video.

His party, which highlighted the attack in its campaign events,  opposes EU arms deliveries to Ukraine and rails against alleged “warmongers” in Brussels.

Violence has occurred elsewhere in the bloc.

Late Friday, a man hit Danish Prime Minister Mette Frederiksen in a Copenhagen square.

She was not seriously hurt, according to witnesses. Police arrested the assailant, whose motive was not immediately known. Denmark also votes on Sunday.

EU Commission chief Ursula von der Leyen condemned the “despicable act” against Frederiksen.

But it was the shooting of Fico that was the most dramatic incident in the bloc ahead of the polls.

In its wake, support for Fico’s left-wing populist Smer-SD party has skyrocketed and soared past its main liberal rival to the top of voter-intention surveys.

Historically however, Slovakia registers low turnout in EU elections. In the last one, in 2019, just 22 percent of voters cast ballots.

Later Saturday attention will shift to Italy’s vote. Far-right Prime Minister Giorgia Meloni is hoping a strong showing from her party will strengthen her hand as a key EU powerbroker.

Polls suggest her post-fascist Brothers of Italy could come out on top with 27 percent of the vote, which would reflect a broader surge of gains for far-right groups across the EU.

That could make her a potential kingmaker -- or more appropriately, queenmaker -- as her backing could be crucial in deciding if current von der Leyen, a German conservative, earns a second term helming the commission.

Meloni has already been courted by centre-right von der Leyen -- and by French far-right leader Marine Le Pen, who wants to create an EU supergroup of far-right parties.

Meloni has not said what she will do, but has insisted her goal is to relegate EU leftwing parties to the opposition benches.

Domestically, a commanding performance could help further tighten Meloni’s dominance over Italy’s notoriously turbulent political scene.

The prime minister has been omnipresent in national media in the run up to the elections, notably portraying herself as a bulwark against illegal immigration.

Increasing backlash against migrants has driven far-right fortunes across the EU, and was one of the key reasons Meloni was propelled to power in 2022.

Overall, polls ahead of the vote suggested that far-right parties could claim around a quarter of the 720 seats in the incoming EU parliament.

In the Netherlands, which voted on Thursday, the anti-immigration party of extreme-right leader Geert Wilders -- which is already in a new governing coalition -- took second place, according to exit polls.

The fact that Dutch pro-European parties did better than expected provided some succour to centrists hoping to hold off a far-right surge.

Von der Leyen’s conservative European People’s Party and the centre-left Socialists and Democrats still remain on course to be the two biggest groupings in the EU parliament.