Category: 3. Business

  • FSA issues a precautionary warning to people with allergies not to eat Dubai-style chocolate

    FSA issues a precautionary warning to people with allergies not to eat Dubai-style chocolate

    The FSA issued a warning earlier this year that some Dubai-style chocolate products may be unsafe for people with allergies. The FSA is aware that some of these products may contain allergens such as peanut and sesame that are not declared on the label. This information has been shared with businesses and industry groups so they can take action to make sure the products they sell are safe and correctly labelled.   

    The FSA is currently reviewing sampling data from products on sale to check whether they meet the required food safety and labelling standards. Until the work is complete and the full results are known, the FSA is advising consumers with allergies to avoid Dubai-style chocolate as a precaution.  

    “Dubai-style chocolate has become hugely popular, but we’ve found that some products contain peanut and sesame that aren’t declared on the label. For someone with allergies, this could be dangerous. 

    With Christmas just around corner, there is a risk that some products on sale may not meet our strict UK standards. 

    People with an allergy should not eat Dubai-style chocolate. If you’re buying a gift for someone who lives with allergies, our advice is to avoid buying these products. This includes all allergies, not just peanut and sesame. People without allergies can consume these products, especially where they are supplied by reputable brands and retailers.  

    People should be able to trust that food in UK shops is safe and that it’s what it says it is, so we’re reminding businesses of their responsibility to ensure the safety of the food products they sell.  We’ve also shared our concerns with allergy charities so they can help us make sure consumers have the information they need to make informed choices.    

    We’re continuing to monitor these products and will provide further advice, so sign up to our food alerts to stay up to date.”

    Rebecca Sudworth, Director of Policy at the FSA

    “CTSI fully supports the FSA’s precautionary advice and share their commitment to protecting the safety and health of consumers, particularly when it comes to allergens in food; these can be fatal to those with food hypersensitivity.  

    The legal requirements on this are clear – any food containing allergens needs to be clearly identified and labelled as such to allow consumers to make informed and safe choices. To not do this is illegal and also highly dangerous as it makes such foods unsafe to those with food allergies. We urge all food businesses, including retailers and importers, to take immediate steps to comply. Businesses who are not sure if they are affected by this warning should contact their local Trading Standards service for advice and guidance.  

    The public should be assured that Trading Standards professionals nationwide – whether advising businesses or enforcing compliance – are working closely with the FSA and affected companies to ensure products meet all safety and labelling requirements. Together, we can help keep people safe and maintain trust in the food supply chain.” 

    Jessica Merryfield, Chartered Trading Standards Practitioner and Head of Policy and Campaigns at the Chartered Trading Standards Institute (CTSI)

    For people who do choose to buy Dubai-style chocolate, FSA advice is to buy from a reputable retailer and check that the product label is in English and contains the following information:  

    • the name of the food (e.g. milk chocolate with pistachio paste filling);    
    • a list of ingredients, with allergens emphasised;    
    • the weight of the food in grams;    
    • a best before or use by date; 
    • the name and address of the UK or EU business responsible for the product information. If the food is not from the UK or EU, the name and address of the importer must be included.  

    For more information on food allergies and how to stay safe, visit food.gov.uk.  

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  • EU Payment Observatory – Annual Report 2025 – CEPS

    EU Payment Observatory – Annual Report 2025 – CEPS


    Late payments remain an increasing problem in the EU, with more than half of companies reporting difficulties as a result in 2024. According to suppliers, average payment periods exceeded 60 days in both B2B and G2B transactions, with governments paying later than businesses in every Member State. As observed in every year analysed, the larger the company, the less likely it is to pay on time. At sector level, however, payment performance varies widely, differing more across Member States than across sectors within a single country.

    This edition of the Annual Report introduces a new section on payment terms. The analysis shows that longer payment terms are associated with longer payment periods in 87% of cases, and that most companies surveyed by the Commission support limiting payment terms.

    Amid economic uncertainty and a slowdown, companies are increasingly concerned about late payment practices, while structural issues persist. The consequences of a poor payment culture are diverse, with impacts on investment and growth most frequently cited. In addition, pursuing late payments represents a significant administrative burden for companies.

    The Annual Report is the Observatory’s main analytical output, providing a comprehensive overview of key trends and developments in payment performance related to commercial transactions in 2024.

     

     

    This report was written in the context of a European Commission project to set up a European Payment Observatory. The report was originally published here.

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  • Global market landscape of vaccine manufacturing and procurement

    Global market landscape of vaccine manufacturing and procurement

    Overview

    This landscape analysis aims to present a current picture of the global vaccine ecosystem from the purchaser (country) and supplier (manufacturer) perspectives to help global, regional and country stakeholders understand the current distribution of global manufacturing and procurement for different markets, technologies and regions.

    Using data reported in 2023 from 204 countries and 98 vaccine manufacturers, the report broadly addresses the following questions.

    1. What is the geographic distribution of vaccine manufacturing across all production stages at the regional level? What trends are emerging?

    2. How is regional manufacturing related to supply security and pandemic preparedness? What can be learned from different regions’ and countries’ experiences?

    3. How do links among manufacturers across production stages affect supply security?

    4. What is the geographic distribution of vaccine technology platforms?

    Drawing on the insights generated through the analysis, the report concludes with a discussion of broader strategic considerations surrounding regional vaccine manufacturing. These include the distinction between local and regional production capacity and their respective implications for supply security; the opportunity for regions initiating manufacturing efforts to pursue public investments that strengthen access outcomes; and the critical importance of an enabling ecosystem to ensure the sustainability and success of regional manufacturing initiatives, while monitoring for potential externalities affecting global vaccine access.

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  • Dollar slips ahead of payrolls; sterling gains despite weak jobs data – Investing.com

    1. Dollar slips ahead of payrolls; sterling gains despite weak jobs data  Investing.com
    2. Dollar drops against peers  Business Recorder
    3. Stocks Dip and Dollar Weakens as Job Report and Price Index Awaited  وكالة صدى نيوز
    4. U.S. Dollar Retreats As Unemployment Rate Jumps to 4.6%: Analysis For EUR/USD, GBP/USD, USD/CAD, USD/JPY  FXEmpire
    5. The USD is lower to start the trading week. What is the roadmap for traders today?  investingLive

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  • ESB Networks’ welcomes publication of Price Review Six (PR6) Final Determination

    • Ambitious and challenging investment programme reflects strategic importance of electricity network to social, economic and environmental progress

    Tuesday 16th December 2025 

    ESB Networks welcomes the publication today by the Commission for Regulation of Utilities (CRU) of the Price Review Six (PR6) Final Determination, following an eighteen-month engagement process. 

    PR6 is the largest investment in the electricity network in Ireland’s history and will involve the delivery of more than 500 major capital projects which will allow Ireland to meet the increasing demand for electricity. This scale of investment reflects the strategic importance of the electricity network in enabling key policy targets, including those contained in the Government’s new housing plan –  Delivering Homes, Building Communities: An Action Plan on Housing Supply and Targeting Homelessness 2025-2030 – as well as the National Planning Framework, the National Development Plan and the Climate Action Plan.

    PR6 will allow ESB Networks to build on and accelerate the significant progress achieved during Price Review 5 (PR5) which included the connection of over 186,000 homes, farms and businesses, the addition of 2.1 GW of utility scale renewable generation and the installation of over 1.8 million smart meters.  

    Nicholas Tarrant, ESB Networks Managing Director, welcomed today’s determination by the CRU saying: “The final determination endorses the scale of ambition put forward by ESB Networks in our PR6 Business Plan. It will help pave the way for a more resilient, reliable and sustainable energy future for Ireland, supporting housing, jobs and climate action. We look forward to working in collaboration with our stakeholders, industry colleagues and all of society to deliver this historic and transformative investment in Ireland’s future.”  

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  • UoM advancing UK biotech innovation through training

    UoM advancing UK biotech innovation through training

    Each programme brings together academic and industrial expertise to deliver high-quality doctoral training, with a strong emphasis on collaboration, innovation, and real-world impact.

    The three awards are:

    BioProcess: Biocatalysis and Protein Engineering Centre for Sustainable Synthesis

    Led by Professor Anthony Green at The University of Manchester and co-developed with AstraZeneca, BioProcess will offer training in biocatalysis, protein engineering and biomanufacturing with a specific industry focus. The programme will be delivered by a consortium of academic and industrial partners including the Universities of York and Bristol, and a network of multinational companies from across the pharmaceutical, chemical and biotechnology sectors.

    Students will be based in one of the three universities and will spend a minimum of three months working on industry placements to gain experience in a commercial setting. Training will span four scientific pillars: design and discovery of new enzyme chemistry, laboratory automation and AI for accelerated protein engineering, assembly of enzyme cascades and cell factories, and realising biotransformations at scale. The programme builds on the success of the Centre of Excellence for Biocatalysis (CoEBio3), which has already graduated 36 students and commercialised over 1,000 biocatalysts to date.

    BioProcess aims to equip this new generation of researchers with the technical and transferable skills needed to contribute to the UK’s bioeconomy, while fostering a collaborative and inclusive training environment.

    BioAID: AI-Driven Enzyme Design for Industry Biocatalysis

    BioAID, led by Queen’s University Belfast, with co-leads including Professor Sam Hay from the Manchester Institute of Biotechnology, and the Universities of Edinburgh and Bristol, will equip students with specialist knowledge in artificial intelligence and enzyme science to accelerate sustainable biomanufacturing.

    The programme responds to the growing demand for scalable, AI-enhanced enzyme solutions in sectors such as pharmaceuticals, agri-tech and clean energy. Students will receive training in machine learning, protein design and synthetic biology, supported by national computing infrastructure and hands-on laboratory experience.

    BioAID is designed to be interdisciplinary from the outset, with projects co-supervised across biosciences, AI, and engineering. Students will follow a structured training programme centred on three integrated scientific themes:

    • AI-Powered Enzyme Discovery (e.g. metagenomic mining and structure prediction)
    • AI-Guided Enzyme Design (e.g. active site tuning using ML tools)
    • AI-Enhanced Enzyme Applications (e.g. scalable biocatalysis in clean manufacturing) 

    The programme will deliver significant societal and economic benefits by embedding AI-driven enzyme innovation within the UK’s bioscience talent pipeline.

    CODE-M: Control and Design of Bioengineered Microbial Cells and Systems

    CODE-M will train PhD researchers in microbial bioengineering, with a focus on applications in biomedicine, clean growth, food systems, and environmental solutions. Led by Professors Michael Brockhurst and Neil Dixon at The University of Manchester, in partnership with the University of Liverpool, the programme will produce a cohort of highly-trained, highly employable bioengineers that will reinforce the UK’s position as a leader in green and biobased solutions. 

    Students will develop microbial biotechnologies that tackle global challenges, including improving health, driving clean growth, creating resilient food systems, and delivering environmental solutions. Training will be supported by advanced facilities including biofoundries, genomics platforms, and high-performance computing, and will be built around three themes:

    • Bottom-up design for bioengineering microbial cells and systems
    • Top-down control for bioengineering microbiomes
    • Disruptive technologies for microbial bioengineering

    The programme includes hands-on rotation projects, enabling skills training, and placements with industry and national institutes. CODE-M also places a strong emphasis on responsible research and innovation, equality and inclusion, and student-led activities such as stakeholder symposia and outreach.

    Building capability in the north-west

    Together, these three programmes represent a significant investment in the north-west and UK’s biotechnology training landscape. They will help to build a pipeline of skilled researchers equipped to tackle complex challenges in sustainable manufacturing, health, and environmental resilience.

    Each programme has been designed to align with UKRI’s doctoral investment priorities and national strategies including the UK Bioeconomy Strategy, Net Zero Strategy, and AI Strategy. By embedding industry collaboration, interdisciplinary training, and inclusive practices, these awards will support the development of a diverse and capable research workforce.

    Applications for the first cohort of studentships are expected to open in 2026, with further details to be announced in due course. 
     

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  • EBRD supports MREL-eligible bond issuance in Serbia

    EBRD supports MREL-eligible bond issuance in Serbia

    • EBRD invests RSD 1.2 billion in landmark bond issuance by UniCredit Bank Serbia
    • Project sets new standard for raising of MREL-eligible funding in Serbia and wider Western Balkans
    • Investment contributes to Serbia’s capital market development and dinarisation

    The European Bank for Reconstruction and Development (EBRD) is investing RSD 1.2 billion (€10.2 million) in unsecured MREL-eligible bonds issued by UniCredit Bank Serbia (UCB) as one of the anchor investors, with UCB’s total issuance amounting to RSD 6.0 billion (€51.1 million). The bonds will be listed on the Belgrade Stock Exchange and will count towards UCB’s minimum requirement for own funds and eligible liabilities (MREL).

    This financing will support lending to micro, small and medium-sized enterprises (MSMEs) in Serbia. In accordance with the Financial Intermediaries Framework, UCB has committed to increasing its SME portfolio by a multiple of the EBRD’s funding, prioritising new clients and those in economically underdeveloped regions.

    At least 30 per cent of the proceeds from the EBRD’s subscription will be allocated to eligible green projects under the EBRD’s Green Economy Transition (GET) approach, supporting Serbia’s green transition.

    This transaction will strengthen UCB’s compliance with regulatory requirements, diversify its bail-in-able funding base and contribute to the development of Serbia’s local capital market. This is one of the first MREL-eligible bond issuances in the country and the wider Western Balkans, so it will also have a demonstration effect on other local banks.

    This investment in local currency is in line with the National Bank of Serbia’s dinarisation strategy, helping UCB to increase the Serbian dinar’s share of total funding and supporting the broader resilience of the financial sector.

    The EBRD is a leading institutional investor in Serbia, having invested more than €10 billion through almost 400 projects, most of which have supported the private sector. In Serbia, the Bank’s priorities include enhancing private-sector competitiveness, productivity and access to finance.

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  • EBRD supports MREL-eligible bond issuance in Serbia

    EBRD supports MREL-eligible bond issuance in Serbia

    • EBRD invests RSD 1.2 billion in landmark bond issuance by UniCredit Bank Serbia
    • Project sets new standard for raising of MREL-eligible funding in Serbia and wider Western Balkans
    • Investment contributes to Serbia’s capital market development and dinarisation

    The European Bank for Reconstruction and Development (EBRD) is investing RSD 1.2 billion (€10.2 million) in unsecured MREL-eligible bonds issued by UniCredit Bank Serbia (UCB) as one of the anchor investors, with UCB’s total issuance amounting to RSD 6.0 billion (€51.1 million). The bonds will be listed on the Belgrade Stock Exchange and will count towards UCB’s minimum requirement for own funds and eligible liabilities (MREL).

    This financing will support lending to micro, small and medium-sized enterprises (MSMEs) in Serbia. In accordance with the Financial Intermediaries Framework, UCB has committed to increasing its SME portfolio by a multiple of the EBRD’s funding, prioritising new clients and those in economically underdeveloped regions.

    At least 30 per cent of the proceeds from the EBRD’s subscription will be allocated to eligible green projects under the EBRD’s Green Economy Transition (GET) approach, supporting Serbia’s green transition.

    This transaction will strengthen UCB’s compliance with regulatory requirements, diversify its bail-in-able funding base and contribute to the development of Serbia’s local capital market. This is one of the first MREL-eligible bond issuances in the country and the wider Western Balkans, so it will also have a demonstration effect on other local banks.

    This investment in local currency is in line with the National Bank of Serbia’s dinarisation strategy, helping UCB to increase the Serbian dinar’s share of total funding and supporting the broader resilience of the financial sector.

    The EBRD is a leading institutional investor in Serbia, having invested more than €10 billion through almost 400 projects, most of which have supported the private sector. In Serbia, the Bank’s priorities include enhancing private-sector competitiveness, productivity and access to finance.

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  • Chinese Stocks Near Correction as Rally Fades on Weak Economy

    Chinese Stocks Near Correction as Rally Fades on Weak Economy

    (Bloomberg) — Chinese stocks in Hong Kong neared key bearish technical levels on Tuesday as fading tech gains and renewed economic growth concerns fueled a sharp selloff.

    The Hang Seng China Enterprises Index (^HSCE) slid 1.8% and the MSCI China Index fell 1.6% Tuesday, with both briefly entering technical correction. Alibaba Group Holding Ltd. (BABA, 9988.HK) and Tencent Holdings Ltd. (0700.HK, TCEHY) were among the worst drags, while a gauge of tech stocks traded in Hong Kong was just shy of a bear market.

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    The recent pullback has threatened to undermine fragile investor confidence in the world’s second-largest market, weighed by persistent economic weakness and Beijing’s reluctance to unveil sweeping stimulus. Fresh data showing further deterioration in economic confidence this week has amplified concerns and raised the risk of a spillover into other assets.

    “Deflation, soft consumption, real estate weakness, involution — none of these issues seem to have been definitively resolved,” said Vey-Sern Ling, managing director at Union Bancaire Privee, adding that profit-taking makes sense given uncertainty.

    Investors are now reassessing their positioning in China’s equity market after a DeepSeek-fueled surge earlier this year turned local gauges into global standouts. Concerns over stretched valuations in tech and broader benchmarks coupled with fading hopes for sweeping stimulus by Beijing, are quickly eroding confidence.

    That fragility was on display Monday after data showed Chinese investment slumping further and retail sales growing at their weakest pace since Covid, sending markets reeling. Home prices have resumed declines, renewing worries over China’s prolonged real estate crisis amid China Vanke Co.’s deepening debt woes. Persistent trade tensions are compounding the economy’s vulnerability.

    Meanwhile, President Xi Jinping has vowed to crack down on the pursuit of “reckless” projects that have no purpose except showing superficial results, highlighting the Chinese leader’s concern over the quality of growth in gross domestic product and the use of financial resources.

    Worries over an artificial intelligence bubble are affecting the tech sector, along with “generally weak macro and lack of meaningful catalysts from the Central Economic Work Conference,” said Xin-Yao Ng, a fund manager at Aberdeen Investments, referring to the economic policy meeting earlier this month.

    The market pause has spurred a shift away from pricier tech shares and into areas expected to gain from Beijing’s policy support to boost domestic demand. Such a rotation has helped onshore stocks outperform their offshore peers, with the CSI 300 Index down 2.8% over the one-month period compared with a 6.8% drop in the HSCEI.

    The MSCI China gauge, which tracks shares listed on the mainland and in Hong Kong, is trading at about 12 times forward earnings, above its five-year average of 11 times.

    Some global fund mangers, including Amundi SA and Fidelity International, say Chinese stocks could advance next year given the country’s AI prowess and resilience amid US tensions. The MSCI China Index is still up nearly 27% this year, beating gains in the regional benchmark and almost doubling the climb in the S&P 500.

    Still, profit taking in high-flying names, such as Pop Mart International Group Ltd., has added pressure to China’s domestic markets.

    “China stocks have lost momentum in the fourth quarter due to a lack of catalysts and underwhelming signals on policy support,” said Marvin Chen, a strategist at Bloomberg Intelligence. “China stocks may continue to take signals from global sentiment until early next year, when key policy meetings kick off.”

    —With assistance from Lin Zhu and Charlotte Yang.

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  • EBRD acquires minority stake in Polish company Unilogo Robotics

    EBRD acquires minority stake in Polish company Unilogo Robotics

    The European Bank for Reconstruction and Development (EBRD) has acquired an indirect minority stake in Unilogo Robotics, a robotics company based in Poland. The Bank has invested alongside private equity fund Resource Partners, in which the EBRD is also a limited partner.

    Operating at the intersection of industrial automation and software, Unilogo is a fast-growing Polish business offering robotic assembly line solutions. It provides integrated robotic lines that are controlled by proprietary software and tailored to short production runs primarily for personal care and household products segments. The company’s systems are used by global players in the fast-moving consumer goods (FMCG) industry.

    The EBRD’s investment has supported Resource Partners’ acquisition of Unilogo, paving the way for the company to grow further in Poland and beyond. As new shareholders, the EBRD and Resource Partners will help Unilogo develop and expand its highest-speed robotic lines as well as improve its proprietary software and corporate governance.

    Tamas Nagy, EBRD Co-Head of Private Equity, said: “We are pleased to support Unilogo in its expansion and to continue our strong cooperation with Resource Partners, initially through the fund investment and now through this first joint co-investment. This transaction is a perfect example of how the EBRD adds value to the Polish market through private equity ecosystem development and by supporting forward-thinking companies such as Unilogo.”

    Frederic Lucenet, EBRD Global Head of Manufacturing and Services, added: “Unilogo’s obotics solutions are very important to keep manufacturing competitive, including for many of our FMCG clients in central and eastern Europe. The EBRD will support the ambitious growth plans of the company. Congratulations to the Unilogo and Resource Partners teams.”

    Andreea Moraru, EBRD Director for Poland and Baltic States, said: “We focus on supporting innovative, high-growth companies in Poland, and Unilogo is precisely that. We’re delighted to join forces with Resource Partners to help this Polish tech champion grow. This will not just benefit its clients but also strengthen Poland’s industrial competitiveness.”

    The EBRD is one of the leading institutional investors in Poland. Since the start of its operations in the country in 1991, the Bank has invested more than €16 billion across 584 projects. Last year, the EBRD invested a record €1.4 billion in the country, with 12 per cent of this in direct equity and equity-like instruments.

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