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Asia
The Hindu BusinessLine

CropLife India expands sustainable farming initiatives for tea, spices

CropLife India is stepping up its engagement with the country’s tea and spice sectors to support sustainable cultivation practices amid increasingly stringent pesticide residue standards in global markets, particularly in the European Union. Durgesh Chandra, Secretary General, CropLife India, said India has nearly 2.5 lakh small tea growers compared to around 1,500 organised tea estates. The industry body has been focusing on enhancing awareness and stewardship among small tea growers through programmes on responsible use of crop protection products, good agricultural practices, residue management and adherence to label recommendations. CropLife India has also undertaken initiatives to expand the availability of registered crop protection products for tea through science-based regulatory processes. It works closely with the United Planters’ Association of Southern India (UPASI) on policy advocacy, optimisation of crop protection product application using precision technologies and promotion of responsible, science-based use of crop protection products, Chandra said. In the spice sector, CropLife India has prepared a consolidated list of approved crop protection products for cumin, cardamom, black pepper, coriander and fenugreek based on inputs from its member companies. The list has been shared with the Ministry of Agriculture & Farmers’ Welfare for onward sharing with the Spices Board, ICAR–Indian Institute of Spices Research (IISR) and State Agriculture Departments to improve farmer awareness, encourage label-compliant use and minimise off-label applications. India is the world’s largest producer, consumer and exporter of spices. However, the sector continues to face a shortage of approved crop protection products for several spice crops, leading to limited label claims, off-label usage and residue-related export risks. Chandra said the Indian Institute of Spices Research has collaborated with CropLife India to advocate faster label expansion, crop grouping and expedited establishment of Maximum Residue Limits (MRLs) to address these challenges. CropLife India has been actively pushing for the implementation of a Crop Grouping Framework to facilitate the establishment of national MRLs and expansion of label claims for minor crops, including spices. With more than 550 crops cultivated in India and over 85 per cent lacking crop-specific label claims, crop grouping offers a globally accepted mechanism to extrapolate residue data from representative crops in line with Codex Alimentarius principles. He said CropLife India and its member companies have been advocating the need for progressive regulatory measures to provide farmers cultivating spices and plantation crops with access to a wider range of effective and targeted crop protection products while addressing residue concerns. The association is also partnering with the government, research institutions, commodity boards and farmer organisations to promote science-based policies that improve farmer access to registered crop protection technologies, reduce residue-related trade risks and enhance the competitiveness of India’s agricultural exports. According to Chandra, accelerating label claim approvals, implementing crop grouping and promoting responsible product stewardship will collectively support sustainable agriculture and strengthen India’s position in global agricultural markets. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

CropLife India expands sustainable farming initiatives for tea, spices
North America
CNBC Finance

Private chef salaries reach $300,000 as the rich seek their own Michelin stars

Private chefs are making up to $300,000 a year, and butlers can earn as much as $180,000 as the wealthy hire more household staff to manage their increasingly complex lives, according to a new study. Demand for chefs, personal assistants, butlers, nannies, housekeepers, chauffeurs and estate managers have reached records as the wealthy buy more homes in various locations and manage ever-growing families, according to a report from Morgan & Mallet International. The hiring boom has created a war for talent, driving up salaries and increasing job-hopping by household staff. "Many clients are surprised by the rising cost of household services," the report said. "The reality is that securing quality staff with proven experience has become increasingly difficult, pushing wages for the best candidates to record highs globally." House managers have the fastest-rising salary among household staff, driven by the growing real estate portfolios of the rich and shrinking pool of good candidates, according to Laurine Mallet, co-founder of Morgan & Mallet. The market for private chefs is especially hot. In the U.S., private chefs can now earn between $100,000 and $300,000, according to the report. Ultra-wealthy families increasingly want to hire Michelin-starred chefs to cook for them at home so they can avoid the crowds and public attention of top restaurants, the report said. Celebrity chefs command the highest premiums, while chefs trained in special diets – like celiac-safe cooking – can also "name their price," the report said. Nannies who speak three languages and have experience caring for children with special needs are also in especially high demand. Traveling nannies are coveted but rare, with some making up to $163,000 in the United Arab Emirates, according to the report. In the U.S., the most requested position from employers is personal assistants. Executive assistants and personal assistants can earn up to $250,000 a year, Morgan & Mallet found. Privacy, discretion and tech skills are now core hiring requirements, according to the report. In Los Angeles, 77% of personal assistants hired required nondisclosure agreements. Strict bans on social media are now common for all household staff positions. In the past, household staff would often work for the same employer for decades. Now, the average tenure with an employer is three years, according to the report. With the wealthy increasingly moving between homes and gaining residencies in multiple countries, they want Western passport-ready staff. Skilled estate managers are becoming especially difficult to find, since they are often required to manage more than three properties in multiple countries and legal frameworks, according to the report. In the U.S., household managers can now make between $150,000 and $250,000, it found. Butlers, once portrayed as buttoned-up, silver tray-carrying domestics, now manage complex staff, technology, security and logistics across multiple properties. Their salaries can be as high as $180,000. "Clients want efficient service with less formality," the report said. "Discretion, confidentiality, and trustworthiness are the most important qualities. Adaptability, flexibility, and strong people skills matter too."

Private chef salaries reach $300,000 as the rich seek their own Michelin stars
Asia
The Hindu BusinessLine

Q1 Results Today Live: JSW Steel profit doubles, Havells India profit declines, Oberoi Realty, The Federal Bank, Central Bank of India profit up, Reliance & Tata Tech to announce Q1 results

Business people using pen,tablet,notebook are planning a marketing plan to improve the quality of their sales in the future. | Photo Credit: Jirapong Manustrong Sensex settled 964.58 pts or 1.25% higher at 78,151.45; and Nifty 50 climbed 261.55 pts or 1.09% to 24,334.30. Oberoi Realty reports a 29% profit increase to ₹544 crore and total income rises to ₹1,361.69 crore in Q1. Poonawalla Fincorp reported standalone net profit for the quarter ended June 2026 at Rs 307.71 crore compared to Rs 62.60 crore in the same quarter last year. JSW Steel board approved the participation of the Company in the proposed initial public offering (“IPO”) of JSW One Platforms Limited (“JOPL”) as a Promoter Selling Shareholder by offering for sale, such number of equity shares of face value of Rs. 10 each of JOPL aggregating up to Rs. 811 Crore held by the Company (“Sale Shares”) in JOPL. JSW Steel on Friday said its consolidated net profit more than doubled to Rs 4,696 crore in the quarter ended June 30, supported by increase in revenues. Oberoi Realty reported consolidated net profit for the quarter ended June 2026 at Rs 543.51 crore as against Rs 421.25 crore in the same quarter last year. Navkar Corporation reported net profit for the quarter ended June 2026 at Rs 12.28 crore, compared to Rs 2.45 crore in the same quarter last year. JSW Steel reported standalone net profit for the quarter ended June 2026 at Rs 2,826 crore as against Rs 2,217 crore in the same quarter last year. Globus Spirits reported standalone net profit for the quarter ended June 2026 at Rs 27.55 crore compared to Rs 18.52 crore in the same quarter last year. Havells India’s standalone net profit for the quarter ended June 2026 declined 15.3% to Rs 298.43 crore as against Rs 352.34 crore in the same quarter last year. Revenue from operations in the first quarter stood at ₹6,518.19 crore as against ₹5,455.35 crore in the year-ago period

Q1 Results Today Live: JSW Steel profit doubles, Havells India profit declines, Oberoi Realty, The Federal Bank, Central Bank of India profit up, Reliance & Tata Tech to announce Q1 results
Asia
The Hindu BusinessLine

Q1 Results Today Live: UltraTech, IOB, KVB, Shyam Metalics, Sobha, JP Power, Bluestone to announce Q1 results, RIL & ICICI Bank gain after Q1, HDFC Bank, Kotak Mahindra, Axis Bank shares fall

businessman investment consultant analyzing company financial report balance sheet statement working with digital graphs. Concept picture for stock market, office, tax,and project. 3D illustration. istock photo for BL | Photo Credit: iStockphoto Reliance Industries stock rose 1% to Rs 1342 on the NSE. Its profit fell 22.4 per cent y-o-y to ₹20,946 crore Sensex depreciated 511.02 pts or 0.65% to 77,640.43 at 9.16 am after flat opening at 78,151.45; Nifty 50 fell 111.30 pts or 0.46% to 24,223. HDFC Bank's Q1 profit rises 5%, with CEO signaling growth acceleration and strategic focus on liquidity and deposit mobilization. Reliance Industries reports Q1 revenue growth of 25% to ₹3.11 lakh crore, driven by O2C recovery and Jio expansion. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

Q1 Results Today Live: UltraTech, IOB, KVB, Shyam Metalics, Sobha, JP Power, Bluestone to announce Q1 results, RIL & ICICI Bank gain after Q1, HDFC Bank, Kotak Mahindra, Axis Bank shares fall
North America
CNBC Finance

Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin

Goldman Sachs said Thursday it won deals to manage a combined $70 billion in retirement assets for Verizon Communications and Lockheed Martin, one of the larger recent announcements in the fast-growing market for outsourced corporate investing. The mandates include about $30 billion in pension assets for Verizon and Lockheed Martin and $40 billion in Verizon defined-contribution retirement assets, which are typically 401(k)s, according to Goldman. The moves underscore how some of America's largest employers are increasingly handing responsibility for managing retirement assets to outside firms such as Goldman as portfolios become more complex and require expertise across public and private markets. Competition in the multitrillion-dollar market for retirement assets is fierce among managers including Goldman, BlackRock, Russell Investments and Mercer, because the long-term institutional mandates generate steady fee revenue. By growing that business, Goldman hopes to increase its share of revenues that are seen as stable and recurring, unlike the more volatile trading and investment banking operations. "Large plan sponsors are consolidating responsibilities with one partner with the investment expertise and depth of platform to manage their bespoke needs," Marc Nachmann, Goldman's global head of asset and wealth management, said in a statement. Goldman's outsourced chief investment officer business had about $480 billion in assets as of March 31, while the firm's broader asset and wealth management division oversees roughly $3.7 trillion worth of investments. Get this delivered to your inbox, and more info about our products and services. Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.

Goldman Sachs wins $70 billion in asset management deals with Verizon, Lockheed Martin
North America
CNBC Finance

June home sales disappoint as prices reach an all-time high

High mortgage rates coupled with record-high prices are causing homebuyers to pull back. Sales of previously owned homes in June dropped 2.4% from May to 4.09 million units on a seasonally adjusted, annualized basis, according to the National Association of Realtors. Housing analysts were predicting a slight gain month over month. "The back-and-forth in monthly home sales activity, driven by mild fluctuations in mortgage rates, shows how sensitive home buyers are to affordability conditions," said Lawrence Yun, the Realtors' chief economist, in a release. "However, job gains—more than half a million since the beginning of the year—will continue to provide support for the housing market." This count represents closed sales, so contracts that were likely signed in May, when the average rate on the 30-year fixed mortgage was still moving higher. It began rising sharply at the start of March at the beginning of the Iran war. Inventory at the end of June was 1.56 million units, down 0.6% from May but 1.3% higher than June 2025. At the current sales pace, that represents a 4.6-month supply. The market is considered balanced between buyer and seller at a six-month supply. With the market still lean, prices continue to rise. The median price of an existing home sold in June was $440,600, an increase of 1.8% from the year before and the highest on record. June is usually the strongest month for both sales and prices. CNBC's Property Play with Diana Olick covers new and evolving opportunities for the real estate investor, delivered weekly to your inbox. "Progress on long-term housing affordability could be hampered if inventory growth continues to stall. Without consistent gains in inventory, home prices can accelerate. It is critical to introduce more supply to the market to widen the opportunity for homeownership," Yun said. Sales continue to be strongest on the higher end of the market. Sales of homes priced below $100,000 were down 1.7% from a year ago, and sales of those priced between $100,000 and $250,000 were up less than 1%. Meanwhile sales of homes priced between $750,000 and $1 million were up nearly 14% from the year before, and sales of homes priced above $1 million were up 18%. Regionally, home sales were down in June month over month everywhere except in the Northeast. One-quarter of all sales were all-cash, down from 29% last year. First-time buyers made up 33% of sales, up from 30% a year ago. Get this delivered to your inbox, and more info about our products and services.

June home sales disappoint as prices reach an all-time high
Asia-Pacific
Channel NewsAsia

India ask its seafarers not to take Hormuz voyages

A man looks at a container ship in the Arabian Sea off the coast of Mumbai, India, on May 6, 2026. (Photo: REUTERS/Francis Mascarenhas) NEW DELHI: India has ordered shipowners, ship managers and recruitment companies not to deploy the country's seafarers on vessels undertaking trips through the Strait of Hormuz amid renewed fighting in the region. India is the world's third-largest supplier of seafarers, with more than 300,000 sailors working across global shipping fleets, according to government data. "No deployment of Indian seafarers on vessels undertaking voyages involving passage through the Strait of Hormuz until further orders," the Directorate General of Shipping said in an order issued late Wednesday. Two Indian seafarers have been killed in attacks on vessels in the region over the last three days, as tensions escalate in the Middle East, and multiple people died previously, according to government data. CNA Games Guess Word Crack the word, one row at a time Buzzword Create words using the given letters Mini Sudoku Tiny puzzle, mighty brain teaser Mini Crossword Small grid, big challenge Word Search Spot as many words as you can Show More Show Less Recent attacks on vessels have increased the risks faced by seafarers and commercial ships operating in the conflict-affected area "significantly", the shipping regulator said. "In view of the heightened security situation in the Persian Gulf region ... the Directorate considers it necessary to adopt enhanced precautionary measures to safeguard the interests of Indian seafarers serving on board ships operating in the region," the order said. It also directed masters of the vessels to ensure that they are sufficiently vigilant about the security situation in the Persian Gulf, the Strait of Hormuz and adjoining waters, and called for continuous monitoring of navigational warnings. New Delhi also lodged a strong protest with Iran, summoning its deputy ambassador over one of the deaths on Tuesday. More than 15,000 Indian seafarers are still stranded on the west of the Strait of Hormuz, said Manoj Yadav, general secretary of the Forward Seamen's Union of India. "We can stop the new sets of crews from joining in those areas. But what about those thousands of seafarers who are still trapped in those deadly seas and under the threat to their lives? What is the government doing to take them out?", Yadav told Reuters.

India ask its seafarers not to take Hormuz voyages
Europe
BBC Business

New era for Gibraltar with removal of 118-year-old border controls with Spain

Every weekday morning, Shilpi Chotrani rides her bicycle from her home in the Spanish town of La Línea de la Concepción to Gibraltar. It's a short journey but it means crossing an international border. A British Overseas Territory of around 40,000 inhabitants, Gibraltar has a border control for those entering and leaving. That means that during the morning and afternoon rush hours, when around 15,000 Spaniards who work in the territory cross the frontier, there can be long, time-consuming queues. "The fact that there is a border between us is ridiculous," says Chotrani, who has a job in human resources in a Gibraltarian shipping and tourism company. "I don't think a fence should separate people from one place and another." Behind her, the 1,400-foot-tall Rock of Gibraltar is shrouded in early-morning cloud. Perched at the southern tip of mainland western Europe, it is just nine miles from Morocco, at a point where the Atlantic Ocean and the Mediterranean Sea meet. It is a place that has witnessed military battles, sovereignty disputes and a 13-year blockade imposed by Spain. But from 15 July it is scheduled to see a new development - the removal of the border, allowing freedom of movement between Spain and Gibraltar. This is part of a carefully negotiated agreement between the European Union and the UK following the latter's exit from the bloc. Sharing a land border with the EU meant that Gibraltar posed a unique challenge in the post-Brexit era. "This is going to be a great step forward, both for the Spanish side and the British side," says Chotrani. "All of those of us who live [in La Línea de la Concepción] think this is a great idea. This should have been done a long time ago." Gibraltar has one of the highest per capita incomes in the world. But La Línea de la Concepción and the nearby area is one of the most deprived parts of Spain. Unemployment, which is high across the southern Andalusia region, is close to 30% here. The removal of the border is therefore expected to have major economic benefits, facilitating the flow of people back and forth, and possibly going some way to redress the imbalance between the two territories. "This is something historic, we've had a border fence since 1908," says Juan Franco, the mayor of La Línea de la Concepción, who is keen to underline the local economic dependence on the British territory.

New era for Gibraltar with removal of 118-year-old border controls with Spain
Asia
The Hindu BusinessLine

UltraTech Cement net up 17% on strong realisation, India Cements turnaround

UltraTech Cement, an Aditya Birla Group company, reported that its net profit in the June quarter was up 17 per cent at ₹2,604 crore against ₹2,221 crore in the same period last year on better realisation. Revenue increased 16 per cent to ₹24,648 crore (₹21,275 crore). The profit was partly driven by the turnaround of India Cements, which recorded a net profit of ₹52 crore in the quarter under review against net loss of ₹183 crore logged in same quarter last year. The turnaround was driven by 18 per cent increase in sales volume, sharper cost control focus and enhanced market reach, said UltraTech Cement. UltraTech domestic sales volumes jumped 13 per cent to 39 million tonnes while consolidated sales were up 12 per cent at 41 million tonnes. Capacity utilisation stood at 81 per cent on an installed capacity of 200 mtpa in India, it said. EBITDA per tonne improved to ₹1,214 against ₹1,198 logged in the previous year same quarter, reflecting the company’s continuing focus on cost reduction. Sales realisation was up marginally at ₹5,218 per tonne (₹5,163). UltraTech’s manufacturing platform continued to strengthen during the quarter, building on the significant milestone achieved in April when the company crossed 200 MTPA domestic grey cement capacity and 205 MTPA global capacity, including its international footprint. The company’s expansion programme remains anchored in a balanced combination of greenfield projects, brownfield expansions and debottlenecking opportunities. The approach continues to enhance market reach, improve logistics efficiency and strengthen service reliability across regions, further consolidating UltraTech’s leadership position. During Q1 FY27, the company deployed electric heavy-duty trucks for mining operations and clinker transportation. UltraTech commissioned 20 MW of Waste Heat Recovery System capacity during the quarter. Consequently, the company’s total installed WHRS capacity increased to 434 MW. Along with its renewable energy of 1.4 GW, the company achieved a green power mix of 47 per cent at the end of this quarter. The company has invested ₹888 crore in the wires and cables venture and expects to commission the plant by end of this year. Earlier, UltraTech committed an investment of ₹1,800 crore in the new venture. Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments. We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.

UltraTech Cement net up 17% on strong realisation, India Cements turnaround