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  • Co-administration of low-dose-Naltrexone and Carbamazepine remarkedly ameliorate allodynia and cognitive deficit in a rat model of trigeminal neuralgia

    Co-administration of low-dose-Naltrexone and Carbamazepine remarkedly ameliorate allodynia and cognitive deficit in a rat model of trigeminal neuralgia

    Chronic TN heightens the risk of mental health conditions and can lead to reductions in the quality of life. CBZ is the primary medication prescribed for managing TN9,30,31. However, many patients encounter difficulties tolerating this drug due to its associated side effects. These adverse effects can include drowsiness, visual accommodation disorders, liver inflammation, changes in liver enzyme levels, kidney impairment, heart failure, delayed multi-organ failure, leukopenia, thrombocytopenia, and more27,30,32. In instances where analgesic relief for TN is inadequate with CBZ or if it induces adverse effects, alternative anticonvulsant medications can be utilized including Lamotrigine, Baclofen, Phenytoin, Gabapentin, Clonazepam, Valproate, Mexiletine, and Topiramate33. The pain-relieving properties of LDN, demonstrated in a rat model of orofacial neuropathic pain have suggested its potential as an alternative treatment for TN15. The primary objective of the current research was to examine the effects of Co-administration of LDN and CBZ on pain levels, anxious and depressive-like behaviors, avoidance tendencies and antioxidant activity in a male rat model of TN. This study aimed to explore whether incorporating LDN with CBZ could effectively manage TN symptoms at a reduced CBZ dosage, thereby minimizing side effects, without re-evaluating CBZ’s well-documented side effects34,35,36.

    In the present study, using a rat model of TN induced by CCI-ION surgery, we found that treating rats with LDN for 7 days, similar to CBZ, alleviated facial mechanical and thermal allodynia. Importantly, combining LDN with different concentrations of CBZ had significant impact on managing chronic TN. Interestingly, using lower doses of CBZ (30 mg/kg/day and 10 mg/kg/day) along with LDN showed a similar effect to using CBZ alone at 100 mg/kg/day in reducing thermal and mechanical allodynia. Our findings support previous clinical and preclinical results that have shown the analgesic effect of LDN in various chronic pain conditions31,37.

    Administering LDN intrathecally has been shown to effectively reverse tactile allodynia in rats with spinal and infraorbital nerve ligation in a dose-dependent manner15,38. Ultra-low doses of Naltrexone enhanced cannabinoid-induced analgesia and morphine antinociception, while also attenuating the development of morphine tolerance. Naltrexone was observed to enhance morphine’s analgesic effects and prevent tolerance by blocking excitatory opioid activity, amplifying morphine’s inhibitory actions39. Furthermore, in a study on cannabinoid-opioid interactions, it was suggested that the activation of opioid receptors coupled to Gs-proteins might diminish cannabinoid-induced antinociception and/or impair motor functioning, providing a potential mechanism for this interaction37,40.

    Classical TN represents a severe neuropathic facial pain disorder, often accompanied by heightened risks of anxiety and depression41. In our TM rat model, anxious and depressive-like behaviors were noted in addition to the facial sensory changes after the CCI-ION injury. CBZ has been used to treat different psychological disorders such as anxiety and post-traumatic stress disorder. Its effects on the neurotransmitter systems, particularly the serotonergic, GABAergic, and noradrenergic pathways, as well as its influence on G-protein modulation, may contribute to its effectiveness. Furthermore, the anxiolytic effects of CBZ may stem from its capacity to inhibit the release of excitatory neurotransmitters through the inhibition of voltage-gated Na + channels, alongside its modulation of glutamatergic neurotransmission. Indeed, CBZ plays a critical role in addressing organic functional disorders within the limbic system by mitigating kindling phenomena42. Our results demonstrated that the anxious and depressive-like behavior in the TN group was significantly improved when treated with both CBZ and LDN, suggesting a synergistic interaction between these two agents in managing TN related psychiatric symptoms. In the tail suspension assay, noteworthy distinctions were observed among the TN (CBZ 100 + LDN) and TN (CBZ 30 + LDN) groups, signifying a diminution in depressive-like behaviors correlated with neuropathic pain when CBZ and LDN were co-administered in contrast to the group receiving CBZ 100 monotherapy.

    CBZ selectively enhances the levels of acetylcholine in the central nervous system while concurrently diminishing choline levels, both of which are crucial for cognitive processes such as learning and memory43. However, CBZ has not been reported to enhance learning and memory processes. On the other hand, in rats and mice, Naltrexone has been shown to improve working memory performance44. These effects were confirmed in our study by use of the passive avoidance test, which revealed significant differences between CBZ + LDN groups compared to the TN group. In the memory phase of the passive avoidance test, there was a significant difference in the step-through latency in the TN and CBZ 100 mg groups when compared to the Sham. All of the groups treated with LDN showed a significant improvement in passive avoidance learning and memory in comparison to untreated TN rats. Additionally, the recovery of impaired passive avoidance memory in the TN group treated with LDN was significantly higher than that of the group treated with CBZ 100 mg, which could indicate that CBZ could not reverse the effect of TN in cognitive abilities.

    The molecular effects of co-administering CBZ and LDN in the spinal trigeminal nucleus were also studied, which showed a significant increase in oxidative stress markers in the TN group. However, these markers decreased notably after 7 days of treatment with both CBZ and LDN. This finding suggests a synergistic interaction between these two agents in managing TN.

    CBZ is well-established in TN management for its ability to inhibit voltage-gated Na + channels, thereby reducing neuronal hyperexcitability and preventing repetitive firing in the trigeminal nerve45. By stabilizing overactive neurons, CBZ alleviates pain associated with TN. However, its efficacy is often limited by dose-related side effects and incomplete control of pain, particularly in refractory cases. Our findings suggest that coadministration of LDN may enhance CBZ’s therapeutic potential by targeting complementary molecular pathways, especially those related to oxidative stress and neuroinflammation. At standard therapeutic dosages, Naltrexone markedly inhibits activity at mu- and delta-opioid receptors, while exerting a comparatively diminished effect on kappa-opioid receptors. Since activity of endogenous beta-endorphins at mu-opioid receptors is linked to endogenous analgesic mechanisms, it may appear paradoxical to prescribe Naltrexone to patients suffering from chronic pain. One would expect that this medication would diminish the analgesic effects derived from beneficial endogenous opioid activity. Furthermore, Naltrexone concurrently exerts an antagonistic influence on non-opioid receptors, specifically Toll-like receptor 4 (TLR4), which is located on macrophages, including microglia. Microglia are responsible for the production of inflammatory and excitatory mediators that can induce negative behaviors, including heightened pain sensitivity, fatigue, cognitive impairment, sleep disturbances, mood disorders, and overall malaise. By inhibiting the activation of microglia, Naltrexone attenuates the synthesis of reactive oxygen species and other potentially neuroexcitatory and neurotoxic substances, a mechanism that has been shown to confer neuroprotective and analgesic actions46. These effects are particularly relevant to the pathophysiology of TN, where neuroinflammatory processes play a critical role in sensitizing the nervous system and amplifying pain signaling. Previous studies have demonstrated that LDN can reduce pro-inflammatory cytokines, such as TNF-α and IL-1β while promoting the release of anti-inflammatory cytokines like IL-1047. However, no significant changes in TNF-α levels in the brainstem and spinal cord were seen following LDN administration15. Oxidative stress is known to worsen neuropathic pain by damaging neurons and increasing sensitivity to pain stimuli. The ability of LDN to reduce oxidative factors suggests that its benefits in TN may extend beyond its anti-inflammatory properties. This is consistent with earlier research showing that LDN can modulate glial activity and neuroinflammatory pathways by targeting TLR4 and µ-opioid receptors. Although our study did not directly evaluate TLR4, previous studies have shown increased TLR4 expression in peripheral nerve structures, such as the trigeminal ganglion, in animal models of TN48. Therefore, LDN’s effects on oxidative stress in TN could also be related to its pain relief. Additionally, LDN’s impact on neurotrophic factors like brain-derived neurotrophic factor (BDNF) has been shown to play a role in neuropathic and inflammatory pain49. BDNF is involved in maladaptive neuroplasticity, contributing to the persistence of chronic pain. LDN has been found to help reduce pain sensitivity by affecting brain chemicals like brain-derived neurotrophic factor (BDNF) and interleukin-10 (IL-10), which are involved neuropathic pain processes15. Although we did not assess BDNF in our study, prior research suggests that LDN’s influence on BDNF expression may depend on the baseline pain status of the animal, potentially reducing BDNF levels in the presence of chronic pain. This modulation of BDNF, combined with CBZ’s Na + channel inhibition, may contribute to the observed improvements in TN symptoms15.

    The results we obtained are consistent with findings from other studies that investigated the potential for combination therapies in managing TN and other neuropathic pain conditions38,50. The combination of CBZ and LDN appears to provide a broader therapeutic effect by simultaneously targeting neuronal hyperactivity, oxidative stress, and neuroinflammation. The mechanistic actions of both drugs appear complementary and could explain why our study showed a greater reduction in oxidative markers when the drugs were combined, as CBZ reduces excitatory firing while LDN can reduce glial activation and oxidative damage.

    The combination of Naltrexone and CBZ has been shown clinically to produce a synergistic interaction as the intrathecal administration of Naltrexone with oral CBZ15 showed heightened management of pain. However, clinically, this combination is still underexplored. While there isn’t yet strong evidence showing a direct synergy between LDN and CBZ clinically, there’s reason to believe they could complement each other. Naltrexone’s ability to modulate the immune system, paired with Carbamazepine’s effect on nerve signaling, could mean that together, they might offer synergistic pain relief, similar to that seen with LDN and Gabapentin and Pregabalin, especially for conditions like trigeminal neuralgia or chronic neuropathic pain38. More research is needed to explore how they might work together more effectively and determine the best ways to use them in clinical practice. Further, future studies should evaluate concentration-dependent effects as while we chose to use 0.5 mg of Naltrexone as that concentration previously was found to be synergistic with other drugs to enhance pain relief (Pineda-Farias et al., 2017), other concentrations could result in differential effects. As TN is difficult to manage effectively, the potential for a combined treatment strategy that helps ease nerve pain is worth further investigations51.

    Besides the synergistic effects of coadministration of CBZ and LDN on ameliorating pain, the combination also improved anxiety-like behavior, depressive-like behavior, and cognitive function, which were significantly affected by CCI-ION. . These improvements were observed with CBZ at concentrations of 10 or 30 mg/kg/day, as well as with CBZ at a concentration of 100 mg/kg/day, either alone or in combination with LDN. This indicates that the dosage of CBZ can be lowered by 70% while still achieving the same therapeutic effect. This could potentially result in fewer side effects associated with CBZ and delay the development of drug resistance.

    One notable limitation of our study is the exclusive use of a male rat model, which restricts our ability to evaluate sex differences and may not accurately reflect the processes occurring in humans. Additionally, our research focused solely on the effects of i.p. administration of LDN, leaving unexplored the potential impacts of other administration routes. Crucially, the study did not assess the long-term effects of LDN treatment, nor did it investigate the other underlying molecular mechanisms involved in these processes. In this study, ION-CCI surgery was used to induce TN symptoms, a common approach in TN research. Future studies should explore alternative administration methods, such as oral or intravenous routes, to validate current findings. Investigating different TN induction techniques could also enhance the understanding of these results. Moreover, including female rats in future research is essential to assess potential sex-specific effects of LDN, given the known higher prevalence of TN in females. Finally, our study was designed to evaluate the effectiveness of the adjunct of LDN to CBZ under the principle that reducing levels of CBZ would mitigate against CBZ-associated side effects. However, while we did not note any difference in adverse events between the treated and untreated TN groups, we did not directly evaluate this point in a control group of animals due to animal welfare issues. Accordingly, while we showed in our TN model that LDN and CBZ were effective, follow up studies should determine whether the combination is associated with adverse events (i.e. liver toxicity). Future research should also explore the long-term effects of this co-administration in both TN and other chronic neuropathic pain conditions to better understand its potential as a comprehensive pain management strategy.

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  • Warning over ‘dangerous’ online fan lights

    Warning over ‘dangerous’ online fan lights

    Screw fit fan lights bought online have prompted warnings from a fire service, an electrician and a council over potential fire risks.

    Ashley Waines, an electrician who works in Lincolnshire and Yorkshire, said the devices also posed a shock risk and fitting one could have “catastrophic” consequences.

    South Holland District Council said people may have purchased them in the the recent bouts of hot weather and urged consumers not to install the combined bulbs.

    “People don’t really understand the risk and dangers of having them until it’s too late.”

    Mr Waines is in a living room, he is wearing a black shirt and a black cap, he is looking at a fan light which is attached to a bulb fitting and is hanging from the ceiling. He has his step ladder to the left and is preparing to remove it.

    Mr Waines said he encouraged customers to let him remove the fans when he identifies them [BBC]

    Mr Waines, 38, has been an electrician for more than 20 years in Bridlington and said he had seen a worrying increase in people self-fitting screw fan lights bought online.

    “One of my friends’ parents had bought one online and called me to me to say it had been making a vibrating noise, like a knocking,” he said.

    “That’s how I found out she’d installed it herself.”

    He said he quickly went to the property to remove it as he feared it posed a fire risk.

    According to Mr Waines the screw fitting of the fan is not able to hold its weight so it can begin to spin loose within the fitting.

    “Then it creates a heat contact on the short so it would basically melt,” he explained.

    “There’s a fire and shock risk.”

    Janet is sitting down, she has blue eyes and blonde and grey hair. She has gold hooped earrings. Behind Janet is a purple, orange and white blanket. Janet is sitting down, she has blue eyes and blonde and grey hair. She has gold hooped earrings. Behind Janet is a purple, orange and white blanket.

    Janet Greatorex had purchased four of the fan lights to try to cool her home in the recent warm spell [BBC]

    Recently, Mr Waines visited Janet Greatorex in Bridlington to remove a screw fan light she had purchased.

    Ms Greatorex she said she had bought the fan online for £7.99 and had four in her home.

    “I bought it because of the warm weather,” she said.

    “I didn’t know it wasn’t safe.”

    South Holland District Council said their electricians had attended “more and more potentially dangerous electrical incidents” within council managed homes.

    “We understand that the weather is warm and may be unbearable for some however the use of readily available fan lights is putting people at risk.”

    A frayed blue wire which has detached from a dirty plastic white wire cover. The bottom of the blue wire has also become twisted with a brown wire.A frayed blue wire which has detached from a dirty plastic white wire cover. The bottom of the blue wire has also become twisted with a brown wire.

    South Holland District Council wanted to alert people to potential risks of installing the devices [South Holland District Council]

    The council said the motion of the device could cause wires to twist, break and snap.

    “This will not only short the electrical circuits causing you to lose power, but could potentially cause a fire if it is not identified and made safe,” the authority said.

    “As a result, we ask that residents do not install these devices.”

    Someone holding one of the screw fit fan lights in a living room. The hand is holding the device by the screw fitting which connects to a round fan incased in white glossy plastic. Someone holding one of the screw fit fan lights in a living room. The hand is holding the device by the screw fitting which connects to a round fan incased in white glossy plastic.

    This fan was bought online for £7.99 [BBC]

    Lincolnshire Fire and Rescue said although they had not responded to any recent incidents caused by screw fan lights they could be problematic.

    “We recognise that if installed incorrectly, or where they are not supported, they could present a fire risk,” a spokesperson said.

    “All electrical products should be purchased from a trusted retailer and be installed, used, and maintained following the manufacturer’s instructions and guidance.”

    Mr Waines said he was concerned about how heavy some of the fans he removed were and feared the damage one could do if it fell from the fitting.

    “If you have a you have a young toddler underneath, it could hit your child on the head.”

    He advised people to buy ceiling fans through official vendors and ensure the fan has a product safety number as well as a CE certificate.

    He said anyone who already has already installed a cheap self-fitted screw fan light to remove it.

    “It could be catastrophic the outcome if people aren’t aware of the dangers.”

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  • Operating Profit up 61% in the Quarter while Sales Grew 12% to NIS 3.1b

    Brazil coffee JV more than doubled operating profit with sales growth of 33%, leading improvement in Group operating profit[1]

    PETAH TIKVA, Israel, Aug. 26, 2025 /PRNewswire/ — Strauss Group Ltd. (TASE: STRS) reported its financial statements for the second quarter and first half of 2025, that ended June 30, 2025.

    Shai Babad, CEO and President of Strauss Group: “In the second quarter, we continued our growth momentum across all our global activities. I would like to express my gratitude to our people for their dedication and sense of mission as we navigated ongoing challenges posed by the war in Israel and maintained business continuity during the conflict with Iran. Our coffee JV in Brazil continue to deliver strong results, with sustained growth and improved profitability. In Israel, we have maintained innovation within our core brands, and our water business continued to expand in Israel, China, and the UK. As part of the ongoing implementation of our group strategy, we continued to drive productivity initiatives and remain committed to generating new growth engines and innovation, both in Israel and globally.”

    Highlights[2]:

    • Strong growth in Strauss Group sales led by higher pricing in the Coffee International segment
    • Higher Group EBIT achieved mainly from the Coffee International segment and profitability improvement in the Health & Wellness segment
    • Strauss Israel: Higher sales and EBIT led by the Health & Wellness segment
    • Coffee International: Significant revenue and profit growth in international coffee operations, with marked improvement in Brazil
    • Lower Group Net Income due to higher financial expenses mainly due to Shekel appreciation and higher tax expenses due to profit mix
    • Aa1.il rating affirmed with upgraded outlook from Negative to Stable by Midroog (Moody’s affiliate)
    • Successful expansion of bonds series F with net proceeds of NIS 461m, with high investor interest
    • Improved market share in most categories in the Group

    Table 1. Financial Performance Summary (Non-GAAP):

    NIS million

    Q2-2025

    Q2-2024

    % Change

    % Change
    excl. FX


    H1-2025

    H1-2024

    % Change

    % Change
    excl. FX

    Group Sales

    3,073

    2,754

    11.5 %

    15.5 %


    6,063

    5,343

    13.5 %

    18.1 %

    Gross Profit

    868

    841

    3.2 %

    5.9 %


    1,649

    1,715

    -3.9 %

    -1.0 %

    Gross margin

    28.3 %

    30.5 %




    27.2 %

    32.1 %



    Operating Profit (EBIT)

    245

    151

    60.8 %

    64.8 %


    426

    355

    19.8 %

    21.7 %

    EBIT margin

    8.0 %

    5.5 %




    7.0 %

    6.7 %



    Net Income attributable to shareholders

    80

    83

    -1.8 %

    0.7 %


    153

    242

    -36.7 %

    -35.7 %

    Net margin

    2.6 %

    3.0 %




    2.5 %

    4.5 %



    EPS

    0.69

    0.71

    -1.9 %



    1.31

    2.07

    -36.7 %


    EBITDA

    349

    262

    32.4 %



    631

    580

    8.6 %


    EBITDA margin

    11.3 %

    9.6 %




    10.4 %

    10.9 %



    Free Cash Flow

    -89

    -119

    25.0 %

    14.7 %


    -584

    -397

    -46.7 %

    -63.3 %

    Second Quarter 2025 Financial Highlights:

    • The Group’s sales grew by approximately 11.5% to NIS 3.1 billion, with growth excluding FX of approximately 15.5%, y-o-y.
    • Operating profit increased by approximately 60.8% to NIS 245 million, representing 8.0% of sales, in comparison to operating profit of approximately NIS 151 million, 5.5% of sales.
    • Net profit attributable to shareholders declined by approximately 1.8% to NIS 80 million, 2.6% of sales, in comparison to profit of approximately NIS 83 million, 3.0% of sales.
    • Negative free cash flow of NIS 89 million, compared to negative free cash flow of NIS 119 million.

    First Half 2025 Financial Highlights:

    • The Group’s sales grew by approximately 13.5% to NIS 6.1 billion, with growth excluding FX reaching approximately 18.1%.
    • Operating profit increased by approximately 19.8% to NIS 426 million, representing 7.0% of sales, compared to profit of approximately NIS 355 million, 6.7% of sales.
    • Net profit attributable to shareholders decreased by approximately 36.7% to NIS 153 million, representing 2.5% of sales, compared to profit of approximately NIS 242 million, 4.5% of sales.
    • Negative free cash flow of NIS 584 million, in comparison to negative free cash flow of NIS 397 million.

    Segment Q2 & H1 Financial Highlights

    Table 2. Sales Summary by Operating Segment (Non-GAAP):

    NIS million

    Q2-2025

    Q2-2024

    % Change

    % Change
    excl. FX


    H1-2025

    H1-2024

    % Change

    % Change
    excl. FX

    Group Sales

    3,073

    2,754

    11.5 %

    15.5 %


    6,063

    5,343

    13.5 %

    18.1 %

    Strauss Israel

    1,319

    1,212

    8.9 %

    8.9 %


    2,715

    2,521

    7.7 %

    7.7 %

    Health & Wellness

    806

    754

    6.8 %

    N.M.


    1,548

    1,485

    4.2 %

    N.M.

    Fun & Indulgence (Snacks and Confectionary) (2)

    301

    271

    11.0 %

    N.M.


    695

    632

    10.0 %

    N.M.

    Fun & Indulgence (Coffee Israel) (2)

    212

    187

    14.0 %

    N.M.


    472

    404

    16.9 %

    N.M.

    Strauss International Coffee(2)

    1,536

    1,205

    27.4 %

    37.5 %


    2,924

    2,159

    35.4 %

    49.3 %

    Strauss Water(2)

    218

    210

    3.9 %

    N.M.


    424

    403

    5.3 %

    N.M.

    Other(3)

    0

    127




    0

    260



    (1)  The data presented in this document are based on the company’s non-GAAP figures, which include the proportionate consolidation of jointly controlled entities and exclude the following: share-based payments; end-of-period  mark-to-market valuations of open financial derivative positions used for commodity hedging; timing adjustments for gains and losses from commodity derivatives, which are deferred until the related inventory is sold to third parties and/or the derivative is exercised; other net income and expenses; and the related tax effects, unless stated otherwise. All changes are in comparison with the corresponding period last year, unless stated otherwise.

    (2)  Fun & Indulgence (Snacks and Confectionery) figures include Strauss’s 50% interest in the salty snacks business. International Coffee figures include Strauss’s 50% interest in the Três Corações joint venture (3C) in Brazil (a company jointly held by the Group (50%) and by the local São Miguel Group (50%)).

    (3)  Comparative figures include the data for Sabra and Obela (based on 50%), which were sold during 2024.

    Note: Financial data were rounded to the nearest NIS million. Percentages changes were calculated based on the exact figures in NIS thousands. The figures for total International Dips & Spreads were derived from the exact figures for Sabra and Obela, in NIS thousands.

     

    Table 3. Operating Profit Summary by Operating Segment (Non-GAAP):

    NIS million

    Q2-2025

    Q2-2024

    % Change

    % Change
    excl. FX


    H1-2025

    H1-2024

    % Change

    % Change
    excl. FX

    Group Operating Profit (EBIT)

    245

    151

    60.8 %

    64.8 %


    426

    355

    19.8 %

    21.7 %

    EBIT margin

    8.0 %

    5.5 %




    7.0 %

    6.7 %



    Strauss Israel

    135

    99

    37.1 %

    37.1 %


    248

    250

    -0.9 %

    -0.9 %

    EBIT margin

    10.3 %

    8.2 %




    9.1 %

    9.9 %



    Health & Wellness

    113

    92

    23.4 %

    N.M.


    201

    166

    21.1 %

    N.M.

    EBIT margin

    14.0 %

    12.2 %




    13.0 %

    11.2 %



    Fun & Indulgence (Snacks and Confectionary) (2)

    1

    -12

    N.M.

    N.M.


    -15

    30

    N.M.

    N.M.

    EBIT margin

    0.5 %

    -4.1 %




    -2.1 %

    4.8 %



    Fun & Indulgence (Coffee Israel) (2)

    21

    19

    14.7 %

    N.M.


    62

    54

    15.3 %

    N.M.

    EBIT margin

    10.1 %

    10.1 %




    13.2 %

    13.4 %



    Strauss International Coffee

    102

    61

    67.0 %

    N.M.


    157

    99

    58.2 %

    N.M.

    EBIT margin

    6.7 %

    5.1 %




    5.4 %

    4.6 %



    Strauss Water

    26

    25

    4.0 %

    N.M.


    52

    49

    6.3 %

    N.M.

    EBIT margin

    12.1 %

    12.0 %




    12.3 %

    12.1 %



    Other

    -18

    -34

    -43.7 %

     N.M.


    -31

    -43

    -27.2 %

    N.M.

    EBIT margin

    N.M. 

    -26.8 %




    N.M.

    -16.5 %



    (1)  The data presented in this document are based on the company’s non-GAAP figures, which include the proportionate consolidation of jointly controlled entities and exclude the following: share-based payments; end-of-period  mark-to-market valuations of open financial derivative positions used for commodity hedging; timing adjustments for gains and losses from commodity derivatives, which are deferred until the related inventory is sold to third parties and/or the derivative is exercised; other net income and expenses; and the related tax effects, unless stated otherwise. All changes are in comparison with the corresponding period last year, unless stated otherwise.

    (2)  Fun & Indulgence (Snacks and Confectionery) figures include Strauss’s 50% interest in the salty snacks business. International Coffee figures include Strauss’s 50% interest in the Três Corações joint venture (3C) in Brazil (a company jointly held by the Group (50%) and by the local São Miguel Group (50%)). Strauss Water EBIT figures include Strauss’s interest in Haier Strauss Water (HSW) in China (49%).

    (3)  Comparative figures include the data for Sabra and Obela (based on 50%), which were sold during 2024.

    (4)  The decrease to a loss of approximately 49 million shekels in the Fun & Indulgence (Snacks and sweets) is mainly due to a one-time loss in derivative activities.

    Note: Financial data were rounded to the nearest NIS million. Percentages changes were calculated based on the exact figures in NIS thousands. The figures for total International Dips & Spreads were derived from the exact figures for Sabra and Obela, in NIS thousands.

     

    Strauss Israel

    • Strauss Israel sales in Q2-2025 reached NIS 1.32 billion, up 8.9%, y-o-y. EBIT increased by 37.1% to NIS 135 million, 10.3% of sales. In H1-2025 sales increased by 7.7% to NIS 2.72 billion, EBIT decreased by 0.9% to NIS 248 million, 9.1% of sales. The increase in sales is mainly attributed to higher quantities, sales mix and pricing. Higher EBIT in Q2-2025 was achieved following lower operating expenses which offset the impact of higher cocoa and coffee prices, supporting H1-2025 EBIT, which was also impacted by realization of non-recurring loss of NIS 49m on cocoa derivatives in Q1-2025.
      The group realized non-recurring loss on cocoa derivatives amounting to NIS 49 million in Q1-2025 and NIS 27 million in Q2-2024. Excluding these losses, Strauss Israel EBIT for Q2-24 would have totaled NIS 126m (10.4% margin), for H1-25 Strauss Israel EBIT would have totaled NIS 297m (10.9% margin) and in H1-24, NIS 277m (11.0% margin).
    • Health & Wellness segment sales in Q2-2025 reached NIS 806 million, up 6.8% y-o-y, while the segment’s operating profit increased by 23.4% to NIS 113 million, 14.0% of sales. In H1-2025 sales reached NIS 1,548 million, up 4.2% y-o-y, while the segment’s operating profit increased by 21.1%, reaching NIS 201 million, 13.0% of sales. Sales were supported by improved sales mix and higher quantities, while the Group continued with the implementation of productivity initiatives, despite the higher milk target price.   
    • Fun & Indulgence (Snacks and Confectionery) segment sales in Q2-2025 reached NIS 301 million, up 11.0% y-o-y, while the segment’s operating profit recovered from NIS 12  million loss to NIS 1 million, 0.5% of sales. In H1-2025 sales reached NIS 695 million, up 10.0% y-o-y, while recording an operating loss of NIS 15 million. Sales were supported by higher quantities, improved sales mix and higher pricing, while EBIT was impacted by higher cocoa prices, moderated by productivity initiatives.
      Excluding losses on cocoa derivatives, as noted above, F&I EBIT for Q2-24 would have totaled NIS 15m (5.9% margin), for H1-25 F&I EBIT would have totaled NIS 34m (4.9% margin) and in H1-24, NIS 57m (9.1% margin).
      Fun & Indulgence (Israel Coffee) segment sales in Q2-2025 reached NIS 212 million, up 14.0%, y-o-y, while the segment’s operating profit increased by 14.7% reaching NIS 21 million, 10.1% of sales. Sales in H1-2025 reached NIS 472 million, up 16.9%, y-o-y, with the segment’s operating profit increasing by 15.3%, reaching NIS 62 million, 13.2% of sales. Sales were supported by higher quantities and pricing, while higher green coffee prices impacted the EBIT.  

    Strauss International Coffee

    • Strauss International Coffee sales in Q2-2025 reached NIS 1.5 billion, up 27.4% y-o-y. EBIT increased by 67%, reaching NIS 102 million, 6.7% of sales. Sales in H1-2025 reached NIS 2.9 billion, up 35.4% y-o-y. EBIT increased by 58.2%, reaching NIS 157 million, 5.4% of sales. Sales increased primarily due to higher pricing, which together with pricing and operational efficiencies offset higher green coffee prices. 
    • Central Eastern Europe (CEE)[3] sales in Q2-2025 reached NIS 424 million, an increase of 16.8%, y-o-y, moderated by the impact of exchange rates. Sales in H1-2025 reached NIS 804 million, an increase of 19.6%, y-o-y. Sales were primarily supported by higher pricing, moderated by the impact of exchange rates.
    • Três Corações Q2-2025 sales (in 50% terms) reached NIS 1.1 billion, up 32.7%, y-o-y, while operating profit reached NIS 88 million, an increase of 130.8%, y-o-y. H1-2025 sales (in 50% terms) reached NIS 2.1 billion, up 43.0%, y-o-y, while EBIT reached NIS 118 million, an increase of 129.4%, y-o-y. Sales were primarily supported by higher pricing, moderated by the impact of exchange rates. The EBIT was supported by higher pricing and operating efficiencies, offsetting the higher cost of green coffee.

    Strauss Water

    • Strauss Water Q2-2025 sales reached NIS 218 million, up 3.9%, y-o-y. EBIT was up 4.0% y-o-y, reaching NIS 26 million, 12.1% of sales. H1-2025 sales were up 5.3% y-o-y, reaching NIS 424 million. EBIT was up 6.3% y-o-y, reaching NIS 52 million, 12.3% of sales. Sales were supported by higher install base and higher Israel & UK sales, improved mix, moderated by to the impact of the war. EBIT was supported by productivity initiatives and impacted by lower net profit in Haier Strauss Water.  
    • Haier Strauss Water Q2-2025 sales (in 100% terms) reached NIS 236 million, up 2.6% y-o-y, and reached net profit of NIS 20 million, down 21.2%, y-o-y. H1-2025 sales reached NIS 463 million, up 3.8% y-o-y, and reached net profit of NIS 51 million, down 2.9% y-o-y. Sales increased as the company continued to expand in the market, while profit margins were impacted by the initiation of promotions to support market share.

    Webinar Earnings Call

    On Tuesday, August 26th, 2025, at 14:00 Israel time/12:00 UK time/7:00 a.m. ET, Strauss Group will host a webinar earnings call in Hebrew to review the financial statements of the company. The webinar will be hosted by the company’s management.

    To participate in the webinar please use the following link:

    https://us02web.zoom.us/webinar/register/WN_imQMqurXSGmnt1S59hq0jQ

    Webinar ID: 876 2108 4103

    In addition, on Tuesday, August 26th, 2025, at 15:30 Israel time/13:30 UK time/8:30 a.m. ET, Strauss Group will host a webinar earnings call in English to review the financial statements of the company. The webinar will be hosted by the company’s management.

    To participate in the webinar please use the following link:

    https://us02web.zoom.us/webinar/register/WN_eJldWUbjS6aHdW8sDiWF8Q

    Webinar ID: 893 5585 0153

    Questions for the questions and answers session may be submitted (up to 2 hours) in advance to:

    [email protected]

    Management’s review will be accompanied by a presentation which will be available on the Investor Relations section of our website on Tuesday, August 26th, 2025:

    https://ir.strauss-group.com/company-presentations/quarterly-presentations /

    Strauss Group’s Q2 & H1-2025 earnings press release and financial statements will be available on the Company’s website:

    https://ir.strauss-group.com/financial /

    https://ir.strauss-group.com/earning-releases/ 

    A recording of the webinar will be available on the company’s website shortly following the webinar.

    For further information, please contact:


    Telem Yahav

    Director of External Communications

    972-52-257-9939

    972-3-675-6713

    [email protected] 

    Rivka Neufeld

    Investor Relations Manager

    +972-54-4224146

    [email protected] 

     


     

    Liron Ben Yaakov

    Director of Communications and PR

    972-54-609-1600

    972-3-675-2584

    [email protected]


    GAAP to Non-GAAP Reconciliations

    In addition to reporting financial results in accordance with generally accepted accounting principles (GAAP), the Company provides Non-GAAP operating results which include the results of jointly controlled entities as if they were proportionately consolidated. Strauss Group has a number of jointly controlled companies: the Três Corações joint venture (3C) – Brazil (a company jointly held by Strauss Group (50%) and by the São Miguel Group (50%) in Brazil), Strauss Frito-Lay Ltd. (a 50%/50% JV with PepsiCo Frito-Lay in Israel) and until the completion of the sale in December 2024, Sabra Dipping Company (a 50%/50% JV with PepsiCo in the U.S. and Canada)(“Sabra”), and PepsiCo Strauss Fresh Dips & Spreads International(1) (a 50%/50% JV with PepsiCo outside the U.S. and Canada) (“Obela”). For more information on this sale, please refer to the Description of the Company’s Business Report for 2024, section 11.1. 

    In addition, Non-GAAP figures exclude any share-based payments, mark to market of commodity hedging transactions as at end-of-period, other expenses or income and taxes referring to these adjustments.

    Company Management believes that these measures provide investors with transparency by helping to illustrate the underlying financial and business trends relating to the Company’s results of operations and financial position and comparability between current and prior periods. Management uses these measures to establish and monitor budgets and operational goals and to evaluate the performance of the Company. Please see the GAAP to Non-GAAP reconciliation tables in the Company’s MD&A Report for a full reconciliation of the Company’s GAAP to Non-GAAP results.

    Table 4: Key financial data, based on the company’s managerial (non-GAAP) reports(1):

    NIS million

    Q2-2025

    Q2-2024

    % Change

    % Change
    excl. FX


    H1-2025

    H1-2024

    % Change

    % Change
    excl. FX

    Total Group Sales

    3,073

    2,754

    11.5 %

    15.5 %


    6,063

    5,343

    13.5 %

    18.1 %

    Gross Profit

    868

    841

    3.2 %

    5.9 %


    1,649

    1,715

    -3.9 %

    -1.0 %

    Gross margin

    28.3 %

    30.5 %




    27.2 %

    32.1 %

    0.0 %


    EBIT

    245

    151

    60.8 %

    64.8 %


    426

    355

    19.8 %

    21.7 %

    EBIT margin

    8.0 %

    5.5 %




    7.0 %

    6.7 %

    0.0 %


    Net Income Attributable to the Company’s Shareholders

    80

    83

    -1.8 %

    0.7 %


    153

    242

    -36.7 %

    -35.7 %

    Net margin

    2.6 %

    3.0 %




    2.5 %

    4.5 %

    0.0 %


    EPS (NIS)

    0.69

    0.71

    -1.9 %

     N.M.


    1.31

    2.07

    -36.7 %


    EBITDA

    349

    262

    32.4 %

    N.M.


    631

    580

    8.6 %

    N.M.

    EBITDA margin

    11.3 %

    9.6 %




    10.4 %

    10.9 %













    Operating Cash Flow

    51

    14

    264.3 %

    N.M. 


    -296

    -101

    193.1 %

    N.M.

    Free Cash Flow

    -89

    -119

    -25.0 %

    14.7 %


    -584

    -397

    -46.7 %

    -63.3 %

    Capex

    -140

    -133

    5.3 %



    -288

    -296

    -2.7 %



    Net debt

    2,966

    3,223

    -8.0 %

    0.0 %


    2,966

    3,223

    -8.0 %

    0.0 %


    Net debt / EBITDA

    2.4

    2.7




    2.4

    2.7



    Table 5: Key financial data, based on the company’s GAAP reports:

    NIS million

    Q2-2025

    Q2-2024

    % Change


    H1-2025

    H1-2024

    % Change

    Total Group Sales

    1,875

    1,701

    10.2 %


    3,762

    3,427

    9.8 %

    Gross Profit

    583

    583

    0.0 %


    1,195

    1,148

    4.1 %

    Gross margin

    31.1 %

    34.3 %



    31.8 %

    33.5 %


    EBIT

    183

    151

    21.6 %


    373

    268

    39.5 %

    EBIT margin

    9.8 %

    8.9 %



    9.9 %

    7.8 %


    Net Income Attributable to the Company’s Shareholders

    64

    82

    -21.5 %


    150

    133

    12.8 %

    Net margin

    3.4 %

    4.8 %



    4.0 %

    3.9 %


    EPS (NIS)

    0.55

    0.7

    -21.4 %


    1.28

    1.14

    12.3 %

    EBITDA

    271

    240

    12.9 %


    549

    450

    22.0 %

    EBITDA margin

    14.5 %

    14.1 %



    14.6 %

    13.1 %










    Operating Cash Flow

    20

    134

    -85.1 %


    -73

    159

    -145.9 %

    Free Cash Flow

    -102

    26



    -327

    -82

    298.8 %

    Capex

    -93

    -76

    22.4 %


    -199

    -178

    11.8 %

    Net debt

    2,383

    2,641

    -9.8 %


    2,383

    2,641

    -9.8 %

    Net debt / EBITDA

    2.2

    2.7



    2.2

    2.7


    Forward Looking Statement Disclaimer

    This press release does not constitute an offering to purchase or sell securities of Strauss Group Ltd. (the “Company”) or an offer for the receipt of such offerings. The press release’s sole purpose is to provide information. The Information provided in the press release concerning the analysis of the Company’s activity is only an extract, and in order to receive a complete picture of the Company’s activity and the risks it faces, one should review the Company’s reports to the Israel Securities Authority and the Tel Aviv Stock Exchange.

    The press release may contain forward-looking statements as defined in the Israeli Securities Law, 5728-1968. All forward-looking statements in this press release are made based on the Company’s current expectations, evaluations and forecasts, and actual results may differ materially from those anticipated, in whole or in part, as a result of different factors including, but not limited to, changes in market conditions and in the competitive and business environment, regulatory changes, currency fluctuations or the occurrence of one or more of the Company’s risk factors. In addition, forward-looking forecasts and evaluations are based on information in the Company’s possession while preparing the press release. The Company does not undertake any obligation to update forward-looking forecasts and evaluations made herein to reflect events and/or circumstances that may occur after this press release was prepared. 

    [1] The data presented in this document are based on the company’s Non-GAAP figures, which include the proportionate consolidation of jointly controlled entities and exclude the following: share-based payments; end-of-period mark-to-market valuations of open financial derivative positions used for commodity hedging; timing adjustments for gains and losses from commodity derivatives, which are deferred until the related inventory is sold to third parties; other net income and expenses; and the related tax effects, unless stated otherwise. All changes are in comparison with the corresponding period last year, unless stated otherwise.

    [2] Q2-2025 and H1-2025 results in this earnings release are presented in comparison to Q2-2024 and H1-2024, respectively, unless otherwise stated.

    [3]  CEE – Poland, Romania, Ukraine, Russia

    SOURCE Strauss Group Ltd.

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  • Taylor Swift inspires ‘Fight Song’ singer Rachel Platten to reclaim her music

    Taylor Swift inspires ‘Fight Song’ singer Rachel Platten to reclaim her music

    Rachel Platten announces ‘Rachel’s Versions’ inspired by Taylor Swift

    Rachel Platten has made a surprising announcement.

    The Fight Song hitmaker is following in Taylor Swift’s lead and looking to take ownership of her music.

    Taking to Instagram on Monday, Platten announced Fight Song (Rachel’s Version) including her other famous tracks from 2016 album Wildfire.

    In the caption, Platten wrote, “I’m proud to announce that on 9/26, I’m releasing a new album with my own, “Rachel’s Versions,” of Fight Song, Stand By You and other songs from my album Wildfire.”

    “Fight Song (Rachel’s Version), will also include some live songs and a surprise from the vault,” she went on to write.

    Platten also continued, “I had no idea when I wrote these songs in moments of vulnerability that they would go on to change my life. For a decade, they’ve lived out in the world, carrying their own weight. They’ve been parts of your moments of strength, doubt, and connection.”

    Adding, “Now, as we celebrate the 10-year anniversary of Fight Song, I’ve gone back to some of my originals, not to change them, but to reclaim them.”

    “This is about more than just new versions of old songs; the new Rachel’s Versions are infused with the voice I have now, the wisdom I’ve gained, and the undeniable pride of owning my own masters.”

    Platten also expressed her gratitude to Taylor Swift, who recorded her iconic Taylor’s Versions of albums, bringing attention to the importance of artists owning their masters, saying, “I’m grateful to @TaylorSwift for bringing this conversation to light and empowering artists to take back control over their work, their stories, and their futures.”

    “Thank you to the immensely talented original producer of Wildfire, @JonLevine, for joining me again to re-record these songs.”

    “And most importantly, thank you to all of you, who have stood by me over these years. I can’t wait for you to hear them again—this time, fully, completely, and unapologetically mine,” Rachel Platten concluded.


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  • Efficacy of Seed Cycling as an Integrative Therapy for Premenstrual Syndrome and Polycystic Ovary Syndrome in Reproductive-Aged Women: A Systematic Review

    Efficacy of Seed Cycling as an Integrative Therapy for Premenstrual Syndrome and Polycystic Ovary Syndrome in Reproductive-Aged Women: A Systematic Review


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  • TV tonight: the White House Farm murder case re-examined 40 years on | Television

    TV tonight: the White House Farm murder case re-examined 40 years on | Television

    White House Farm: Murder, Bloodline and Betrayal

    10pm, Channel 4
    In 1985, the Bamber family – Nevill and June, their daughter Sheila Caffell and her six-year-old twin sons – were found dead at their Essex home. At first, police believed Caffell was responsible for the murders before turning the gun on herself, but suspicion turned to her brother Jeremy Bamber. He was convicted in 1986 on five counts of murder and has been in prison ever since, but has always insisted he is innocent. The grisly, perplexing case of “the farmhouse of death” is scrutinised here by some of those who responded to and reported on the crime. Hollie Richardson

    The Great British Sewing Bee

    9pm, BBC One
    Art week should be a breeze for this crafty bunch. But with a place in the quarter-final coming into view, the pressure is on. After making dolls’ dresses and painters’ overalls, the theme for the Made to Measure challenge is pop art – but who will confuse it with impressionism? Oops. HR

    The Jury: Murder Trial

    9pm, Channel 4
    A second series of the social experiment that recreates a real trial for the benefit of a new batch of 12 laypeople. A Liverpool mother says she stabbed her boyfriend in self-defence; as arguments rage, it’s as much a reality show about individuals whose behaviour is altered by the knowledge that they are on camera as it is a comment on the judicial system. Jack Seale

    Tommy: The Good. The Bad. The Fury

    9pm, BBC Three
    It can’t be easy having Tyson Fury as a brother – particularly if you are also a boxer. In this glossy series, Tommy Fury looks to establish his own niche, opening the doors to the cameras and discussing doubts, ambitions and family. He also gets into the ring for some gentle sparring with his elder sibling. Phil Harrison

    Resident Alien

    10pm, Sky Max

    Harry Vanderspeigle (Alan Tudyk) continues the quest to restore his mojo in Resident Alien. Photograph: USA Network/James Dittiger/Bravo

    Season four of the daffy sci-fi comedy veers into Doctor Who territory as powerless Harry and D’Arcy don curly wigs and flares to zap back to the 1970s. Can they convince time-travelling frenemy General McCallister to give up an artefact that could restore Harry’s alien mojo? Graeme Virtue

    Crime Scene Cleaners

    11.05pm, Channel 4
    This week on true crime’s answer to Mrs Hinch, a Las Vegas team encounter a corpse so decomposed its outline is etched into the mattress. Meanwhile, in the UK, an evicted tenant in Newcastle has booby-trapped his former home with dirty needles suspended from the ceilings and doorframes. Ellen E Jones

    Film choice

    Emotional revelations … Fusako Urabe and Aoba Kawai in Wheel of Fortune and Fantasy. Photograph: © 2021 Neopa/Fictive

    Wheel of Fortune and Fantasy (Dir: Ryusuke Hamaguchi), Tuesday, 1.20am, Film4
    The director of 2021’s Drive My Car, Ryusuke Hamaguchi, released another, even more affecting film the same year. This one comprises three short stories in which encounters inadvertently lead to emotional revelations: a model realises her best friend has unknowingly fallen for her ex-lover; a former student is asked to “honeytrap” a professor and novelist she admires; two strangers mistake each other for old schoolmates. Bergmanesque dissections of relationships mingle with heartfelt, cathartic confessionals to profound effect. Simon Wardell

    Live sport

    The Hundred Cricket: Northern Superchargers Women v Manchester Originals Women, 2.45pm, BBC Two
    From Headingley, Leeds. The men’s teams play at 6pm.

    Carabao Cup football: Sheffield Wednesday v Leeds, 7pm, Sky Sports Football
    All the second-round matches are available on Sky Sports+. On Wednesday, Grimsby v Manchester United is on ITV1 and Sky Sports Football at 7.30pm.

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  • Prince William, Kate take surprise step as neighbours raise safety concerns

    Prince William, Kate take surprise step as neighbours raise safety concerns



    Prince William, Kate take surprise step as neighbours raise safety concerns

    Prince William and Kate Middleton have made no compromise when it comes to the safety and well-being of their three children, Prince George, 12, Princess Charlotte, 10, and Prince Louis, 7.

    The Kensington Palace announced earlier this month that the Wales family will be moving out of their Adelaide Cottage and relocating to the eight-bedroom property in Windsor, Forest Lodge.

    Following the big news, many concerns were raised as many residents living in the vicinity pointed out that the new home sees a lot more passers-by and general public given that it is close to a famous Christmas tree market.

    One of the residents of Cranbourne Hall Residential Park, the nearest neighbourhood to Forest Lodge, told Daily Mail that it’s “a less private spot than their previous home”. He expressed that the royal couple has young children and they “deserve privacy”.

    However, the Prince and Princess of Wales were well-aware of the situation before making the big decision and this is reflected in the strict measures they had taken beforehand.

    Two families living in the cottages next to Forest Lodge have been asked to vacate and have understood to be offered a different place to live in Windsor. Royal expert dubbed the move to be an unexpected order from the future king and queen for the neighbours.

    “Close neighbours have been surprised to be ordered to leave their properties so that no prying eyes can see the Prince and Princess with their children,” royal expert Ian Pelham Turner told Fox News Digital.

    It’s understood that there have been no eviction notices issued yet and sources assured to Daily Mail that the tenants have since moved to similar or better housing.

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  • Amazon faces lawsuit over misleading digital movie sales on Prime Video

    Amazon faces lawsuit over misleading digital movie sales on Prime Video

    A proposed class-action lawsuit has been filed against Amazon, targeting its practice of selling digital movies as “purchases” when customers are actually buying limited-time licenses.

    The suit, filed in Washington federal court, alleges that Prime Video misleads consumers into believing they own the content, while access can be revoked at any time.

    The case highlights a broader issue in the digital media landscape: what consumers buy online is often not permanent ownership but rather a license to view. For example, a director’s cut of Alien on Prime Video could be replaced with a different version, or removed entirely if Amazon loses the licensing rights.

    Critics argue this lack of transparency undermines consumer trust.

    The lawsuit also references past concerns about digital transactions, including the 2023 California gaming controversy where players lost access to The Crew after Ubisoft shut down servers.

    Advocates argue that physical media like DVDs still offer a clear ownership model, bypassing the complexities of licensing agreements.

    Amazon’s defense in prior legal challenges has relied on the claim that consumers are aware digital content is licensed, not owned, and that its disclosures, often in fine print, are sufficient.

    However, the new lawsuit contends these notices are not prominently displayed and violate California’s 2025 law requiring clear acknowledgment of revocable licenses.

    The complaint alleges violations of California’s unfair competition, false advertising, and consumer legal remedies laws, seeking unspecified damages, including disgorgement of profits and punitive compensation.

    Consumer rights lawyers assert that the case could reshape how digital media transactions are marketed, potentially compelling companies to be more transparent about the difference between a purchase and a license.

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  • India braces for export hit as US imposes steep new tariffs from Wednesday

    India braces for export hit as US imposes steep new tariffs from Wednesday



    Activists of different trade unions burn an effigy of US President Donald Trump to protest against the recent tariff hikes imposed by the US on India during a demonstration in Kolkata, India, on August 13, 2025. — AFP

    Indian exporters are bracing for disruptions after a US Homeland Security notification confirmed Washington would impose an additional 25% tariff on all Indian-origin goods from Wednesday, ramping up trade pressure on the Asian nation.

    Indian exports will face US duties of up to 50% – among the highest imposed by Washington – after President Donald Trump announced extra tariffs as punishment for New Delhi’s increased purchases of Russian oil earlier in August.

    The new duties will apply to goods entering the US for consumption or withdrawn from warehouses for consumption from 12:01 am EDT on Wednesday or 9:31 am IST, according to the Homeland Security notice.

    The Indian rupee weakened 0.2% to 87.75 per US dollar in early trade, even as the greenback declined against many other currencies. The benchmark equity indexes NSEI and BSESN were each trading 0.8% lower.

    The notification said exceptions would include in-transit shipments with proper certification, humanitarian aid, and items covered under reciprocal trade programs.

    The notification reiterated that the action was in response to India’s indirect support of Russia’s military incursion into Ukraine.

    India’s Commerce Ministry did not immediately respond to an email seeking comment on the latest notification.

    “The government has no hope for any immediate relief or delay in US tariffs,” said a Commerce Ministry official, who spoke on condition of anonymity because they were not authorised to speak to media.

    Exporters hit by tariffs would be provided financial assistance and encouraged to diversify to alternative markets including China, Latin America and the Middle East, the official added.

    “The government has identified nearly 50 countries for increasing Indian exports, particularly of textiles, food processed items, leather goods, marine products.”

    Indian Prime Minister Narendra Modi has vowed not to compromise the interests of the country’s farmers even if there is a heavy price to pay. Modi is also taking steps to improve ties with China with his first visit in seven years planned for the end of the month.

    Exporters seek aid

    Exporter groups estimate hikes could affect nearly 55% of India’s $87 billion in merchandise exports to the US, while benefiting competitors such as Vietnam, Bangladesh and China.

    A worker gestures as he works at a steel processing production line of a factory in Mandi Gobindgarh, in the northern state of Punjab, India, August 14, 2025. — Reuters
    A worker gestures as he works at a steel processing production line of a factory in Mandi Gobindgarh, in the northern state of Punjab, India, August 14, 2025. — Reuters

    “The US customers have already stopped new orders. With these additional tariffs, the exports could come down by 20-30% from September onward,” said Pankaj Chadha, president, Engineering Exports Promotion Council.

    Chadha added that the government has promised financial aid including increased subsidies on bank loans and support for diversification in the event of financial losses.

    “However, the exporters see limited scope for diversifying to other markets or selling in the domestic market,” he said.

    Private sector analysts warn that a sustained 50% tariff could weigh on India’s economy and corporate profits – prompting the steepest earnings downgrades in Asia – even if proposed domestic tax cuts partly cushion the blow.

    Capital Economics said last week that if full US tariffs come into force, the hit to India’s economic growth would be 0.8 percentage points both this year and next.

    Foreign Minister S. Jaishankar said last week trade talks are ongoing and that Washington’s concern over Russian oil purchases was not equally applied to other major buyers such as China and the European Union.

    There is no directive from the government so far regarding oil purchases from Russia. Companies will continue to buy oil on the basis of economics, three refining sources said.

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  • Mortgages delays adding ‘extra stress’ for buyers

    Mortgages delays adding ‘extra stress’ for buyers

    Olivia Copeland

    BBC News, Guernsey

    NEIL HALL/EPA/Shutterstock A man walks past an estate agent window filled with six bright digital screens displaying homes. NEIL HALL/EPA/Shutterstock

    The process of applying for mortgages takes much longer than it did 20 years ago, an estate agent says

    Delays in mortgage approvals are adding “extra stress” for buyers and sellers, according to estate agents in Guernsey.

    One agent said that, even without complications, lenders are taking 10 to 12 weeks to approve a mortgage after an offer has been accepted.

    It is thought the delays are due to requirements for stricter checks and valuations, and an increase in buyers earning from multiple sources.

    One local broker said there was a shortage of bankers specialising in mortgages and lenders have not invested in upgraded IT services.

    Matt Brouard, director of Guernsey estate agent Cooper Brouard, said he had seen how the delays impact his clients at an already stressful time.

    “Getting a mortgage today takes far longer than it did 20 or 30 years ago,” he said.

    A man wearing a navy jumper with a blue checked shirt beneath, smiling at the camera.

    Estate agent Matt Brouard said delays make it difficult for buyers to organise their moves

    Mr Brouard said lenders have to follow stricter rules now, completing detailed affordability checks, tougher property valuations, and extensive money laundering checks.

    “With more people self-employed and earning from multiple sources, the process can be more complex and lengthy,” he said.

    “The knock-on effect of these delays is extra stress for buyers and sellers, while they wait to know if they will actually be moving.

    “In the meantime they need to get packing, arrange removals, cleaning, transfer utilities, have house insurance in place and much else.”

    A man wearing a white shirt and grey jacket, looking at the camera

    Pierre Blampied offers his clients mortgages as a broker

    Pierre Blampied, managing director of SPF Private Clients, which offers mortgages, said while his clients are seeing delays, it’s an issue he’s noticed across the UK too.

    “Lenders are now quite often understaffed and there are relatively few individuals specialising in mortgages within the banking sector,” he said.

    “Due to limited market size, the majority of lenders have not invested in IT systems to speed up the process.”

    He said, however, that slow processes were not the fault of banks alone.

    “We’re also seeing a lack of surveyors on island sadly, with a number of surveyors not offering a homebuyers’ survey, the desired survey when purchasing a property,” he said.

    “The conveyancing process has also slowed matters down, and advocates are becoming risk-averse in their advice to their clients.”

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