Latest news with #EBA
Korea Herald
5 days ago
- Business
- Korea Herald
A scoop of competition: Hanwha's Benson challenges Baskin-Robbins' 40-year reign
Kim Dong-sun, vice president of Hanwha Galleria and third son of Hanwha Group Chairman Kim Seung-youn, on Friday launched premium ice cream brand Benson with its first store, Benson Creamery Seoul, in Apgujeong. All eyes are on whether it can challenge market leader Baskin-Robbins. Betterscoop Creamery is a new Hanwha Galleria subsidiary led by Oh Min-woo, who also oversaw the launch of the hamburger chain Five Guys in Seoul in 2023. 'Vice President Kim was deeply involved in the brand's direction and decision-making,' Oh said during a May 19 press briefing. This isn't Hanwha Galleria's first foray into ice cream. In 2018, it launched EBA (Everything But Artificial) Ice Cream, which was discontinued in 2023 due to limited reach and low brand recognition. Learning from that, Hanwha has taken a more strategic approach with Benson, applying for a new trademark and securing a dedicated manufacturing facility in Pocheon. Benson is positioned as a premium offering, using only domestic milk and cream, acacia honey, and single-origin Tanzanian chocolate. A single 100g cup is priced at 5,300 won ($3.73) — about 1,400 won more than a Baskin-Robbins single regular. A pint (320g) costs 15,300 won, 5,500 won more than Baskin-Robbins' 9,800 won. 'The target demographics for Benson and Baskin-Robbins are likely very different,' an industry insider noted. 'Benson's location in Apgujeong signals a deliberate premium strategy.' The company plans to open 10 to 20 directly operated stores this year. While market entry won't be easy, CEO Oh said the goal is not direct competition. 'We're not reacting to any one competitor. We hope to elevate the overall ice cream market and offer more options to consumers.' Meanwhile, SPC's Baskin-Robbins is marking its 40th anniversary in Korea with a renewed brand vision, 'ICET' (Innovation, Collaboration, Environment, Technology). 'We aim to go beyond variety and explore new value,' said Hur Hee-soo, SPC Group vice president and son of Chairman Hur Young-in, credited with bringing Shake Shack to Seoul in 2016. Baskin-Robbins recently launched a Cheongdam flagship store featuring its Deep Collection, made with higher milk fat and Echire milk, alongside lower-calorie, reduced-sugar options and AI-developed flavors. Since its first store opened in Myeong-dong in 1986, the brand has expanded to over 1,500 locations nationwide.
Zawya
6 days ago
- Business
- Zawya
Egypt's Environment Minister urges stronger private sector role in green investment
Egypt's Environment Minister Yasmine Fouad has called on the country's business community to take a more proactive role in advancing environmental and climate goals, stressing the importance of aligning private investment with national sustainability priorities. Speaking at a high-level meeting with the Egyptian Businessmen's Association (EBA) in the New Administrative Capital on Sunday, Fouad underscored the ministry's evolution into a development partner. 'This ministry is no longer a roadblock to investment,' she said. 'Since 2019, we've repositioned ourselves as a strategic enabler of green growth and economic progress.' The meeting brought together senior officials and leaders from key economic sectors to explore green investment opportunities and discuss how businesses can contribute to Egypt's environmental transition. Fouad outlined a series of reforms designed to attract private investment in sectors such as waste management, eco-tourism, and industrial pollution control. She pointed to Egypt's successful model of converting rice straw into commercial products as an example of transforming environmental challenges into economic value. To further accelerate green investment, Fouad announced the establishment of a new Environmental and Climate Investment Unit within the ministry. The unit will focus on identifying bankable green projects, preparing feasibility studies, and expediting the permitting process. She noted that environmental permits are now issued within seven working days, thanks to improved coordination with the Industrial Development Authority. Other initiatives include the digitalization of the permitting process, targeted grants for pollution abatement, and sector-specific compliance guides to support businesses in reducing emissions and meeting sustainability targets. EBA board members welcomed the ministry's new direction and praised the improved regulatory environment. They emphasized the importance of green standards for enhancing Egypt's export competitiveness and expressed strong support for expanding carbon credit trading to incentivize private-sector emission reductions. The Association also offered its extensive nationwide network and 18 sector-specific committees to support joint awareness campaigns, training programs, and policy development in partnership with the ministry. Fouad concluded the meeting by proposing the launch of a **National Environmental Dialogue for Business** during Egypt's World Environment Day celebrations on June 5. The initiative would bring together policymakers and the private sector to address climate-related issues, including the EU's Carbon Border Adjustment Mechanism (CBAM), green financing tools, and public-private partnership models. 'We welcome all ideas that protect the environment while driving inclusive and sustainable economic growth,' she said.
Daily News Egypt
6 days ago
- Business
- Daily News Egypt
Environment Minister urges stronger private sector role in green investment
Egypt's Environment Minister Yasmine Fouad has called on the country's business community to take a more proactive role in advancing environmental and climate goals, stressing the importance of aligning private investment with national sustainability priorities. Speaking at a high-level meeting with the Egyptian Businessmen's Association (EBA) in the New Administrative Capital on Sunday, Fouad underscored the ministry's evolution into a development partner. 'This ministry is no longer a roadblock to investment,' she said. 'Since 2019, we've repositioned ourselves as a strategic enabler of green growth and economic progress.' The meeting brought together senior officials and leaders from key economic sectors to explore green investment opportunities and discuss how businesses can contribute to Egypt's environmental transition. Fouad outlined a series of reforms designed to attract private investment in sectors such as waste management, eco-tourism, and industrial pollution control. She pointed to Egypt's successful model of converting rice straw into commercial products as an example of transforming environmental challenges into economic value. To further accelerate green investment, Fouad announced the establishment of a new Environmental and Climate Investment Unit within the ministry. The unit will focus on identifying bankable green projects, preparing feasibility studies, and expediting the permitting process. She noted that environmental permits are now issued within seven working days, thanks to improved coordination with the Industrial Development Authority. Other initiatives include the digitalization of the permitting process, targeted grants for pollution abatement, and sector-specific compliance guides to support businesses in reducing emissions and meeting sustainability targets. EBA board members welcomed the ministry's new direction and praised the improved regulatory environment. They emphasized the importance of green standards for enhancing Egypt's export competitiveness and expressed strong support for expanding carbon credit trading to incentivize private-sector emission reductions. The Association also offered its extensive nationwide network and 18 sector-specific committees to support joint awareness campaigns, training programs, and policy development in partnership with the ministry. Fouad concluded the meeting by proposing the launch of a **National Environmental Dialogue for Business** during Egypt's World Environment Day celebrations on June 5. The initiative would bring together policymakers and the private sector to address climate-related issues, including the EU's Carbon Border Adjustment Mechanism (CBAM), green financing tools, and public-private partnership models. 'We welcome all ideas that protect the environment while driving inclusive and sustainable economic growth,' she said.
Yahoo
13-05-2025
- Business
- Yahoo
Bangladesh Denim Expo focuses on capacity-building, innovation
Despite the challenges posed by ongoing global tariff and trade disputes, the panellists at the Bangladesh Denim Expo expressed confidence in Bangladesh's ongoing role as a key player in the global sourcing landscape. The two-day event, which began on 12 May, has drawn 57 exhibitors from 13 different nations, including the host country, India, China, Germany, Türkiye, Pakistan, Spain, Italy, Vietnam, the UAE, Switzerland, and the US. The expo featured panel sessions on topics such as "the growth of the Bangladesh denim industry through the perspective of denim washing" and "stretchability of Bangladesh denim traceability." Industry experts, including Well of Washing director Abdus Samad, Ruhrose RBT co-founder and creative director Arief Labu and the Woolmark Company's processing innovation and education extension GM Julie Davies were among those sharing their insights at the event. Bangladesh Denim Expo founder and CEO Mostafiz Uddin said the country's apparel exports to the US increased by 26.64% in the first quarter of 2025, placing the nation at the forefront of apparel exporters to the US, surpassing India's 24.04% increase and outpacing Pakistan, Vietnam, and China which saw rises of 17.49%, 13.96%, and 4.18% respectively. This growth comes at a time when the US market faces volatility due to recent reciprocal tariffs imposed by the Trump administration, he noted. Uddin added: 'I think even on the negotiation table of the trade issues our card should be the industry's steady progress towards skill development, sustainability and innovation. As we need our trade partners as much as their consumers need us.'' Bangladesh is also the largest denim exporter to both the US and Europe, with the country enjoying duty-free market access to the EU under the Everything But Arms (EBA) and Generalised Scheme of Preferences (GSP) as a least developed country (LDC). Under the GSP, vulnerable developing countries like Bangladesh, Cambodia and Myanmar, can import into the EU market without any taxes. Bangladesh is set to transition to a developing nation next year and without attaining GSP Plus status by 2029, it could lose its duty-free export privileges to the EU, where it exported 50.15% of its apparel. The expo featured a fashion trend-zone showcasing innovative denim fabrics and designs from Bangladesh's burgeoning industry. Additionally, Square Denims garment unit operation head Mohammad Jahangir Alam held a special session on 'The denim business beside sewing and wash production.' Uddin explained: 'In the last edition of the Bangladesh Denim Expo, we had expert panel sessions on the LDC graduation where all speakers unanimously stressed the importance of capacity building within the industry to cope up with changing tariff regimes. So, in this edition of the expo, all the panel sessions we designed are solely meant for capacity building both the professionals and the industry itself. You may also say that from this edition we shifted from plans to actions to prepare Bangladesh's denim industry for 2029 and beyond." In April this year, the Bangladesh Textile Mills Association (BTMA) urged the US embassy and the National Cotton Council of America (NCC) to allow duty-free access for Bangladeshi garments made from US cotton. "Bangladesh Denim Expo focuses on capacity-building, innovation" was originally created and published by Just Style, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
The Age
12-05-2025
- Politics
- The Age
Jacinta Allan has let down Labor's traditional voters
To submit a letter to The Age, email letters@ Please include your home address and telephone number below your letter. No attachments. See here for our rules and tips on getting your letter published. EDUCATION FUNDING As a public school secondary teacher for over 40 years, I never thought I would see a Labor state government 'secretly' withdraw public school funding (' Victoria secretly slices $2.4b from public schools, delays funding promise ', 12/5). Where have the Labor Party values of equal opportunity and a decent, fair education for all disappeared to? This latest 'cash grab' to balance a budget is disgraceful. The premier should know that people from lower socioeconomic backgrounds who may have traditionally been Labor voters will remember this attack on public education at the forthcoming state election. The recent narrow Labor win in the federal Bendigo electorate that overlaps with Jacinta Allan's own state Bendigo electorate should be a reminder to the premier of the need to stay in touch with voters. Leanne Salisbury, Torquay Defending Victoria And here we are thinking that Labor governments are trying to reduce inequity in education across the country. Opposition education spokeswoman Jess Wilson was very critical of Labor's 'hypocrisy' – perhaps she could press for the cessation of overfunding to private schools until the public system gets the funding it needs? As with infrastructure, Victoria manages to be underfunded by the Commonwealth. Will the new Labor federal MPs go to bat for Victorian public education? Chris Pearson, Kyneton Lacking in persuasion One of the defining characteristics of the government led by Daniel Andrews was the lack of public division reported in the media, in contrast to the Liberal opposition. The Age's report on funding arrangements for education, shows Jacinta Allan has no such luxury. I can't think of any good reason why the Victorian government would knock back increased federal recurrent funding even if it had to increase its own share. This recurrent funding pays for teachers' salaries which, because their last EBA was negotiated during COVID, has left Victoria's state teachers way behind most other states. A larger than normal increase can be expected. Cutting capital expenditure, be it on level crossing removals or the Suburban Rail Loop, cannot substitute for this recurrent expenditure increase. It appears from the story that Education Minister and Deputy Premier Ben Carroll was unsuccessful in gaining support for a smaller cut within the budget and finance committee. He should have been arguing for the full amount, and his failure to get either result does not auger well for his persuasiveness in any other position. Paul Kennelly, Caulfield North Crossbench value With education one of the perceived strengths of a Labor government, it was with great dismay that I read The Age 's report. This type of low-profile defunding can only occur if the opposition is ineffective and there is no crossbench, as is the case in the Victorian parliament at present. The crossbench at the federal level has been very active and a great addition to public discourse. I am concerned that the change in funding laws for independents at the federal level will have the same effect as it has obviously had in the Victorian parliament and I call on the Labor Party, to reverse these changes and allow the crossbench to flourish. Jan Downing, Hawthorn East Seeking a third option As a grandparent and former educator, I was shocked to read of the Victorian government's withholding of Gonski funding. While opposition education spokesperson Jess Wilson expresses rage, I wonder whether her kids, and those of other Coalition shadow ministers, go to government schools. Bring on the independents in 2026. Given that the Victorian government could find $350 million to upgrade Albert Park's Formula 1 pit lane (' Huge F1 pit lane upgrade will give Albert Park more courts ... ' 12/5) the 'The Education State' number plate is now a sad joke. Clearly, 'The Pit Stop State' is more appropriate. Ray Peck, Hawthorn THE FORUM Times change Perhaps the 'Dutton delusion' referred to by Sean Kelly (' Many election myths were believed, then busted ', 12/5) wasn't a delusion at all. Perhaps the polls and the media had accurately interpreted the zeitgeist in the electorate prior to Trump going mad and causing a collective rethink of indefinable proportions. As a thought experiment, what do we think might be the chances of the Voice referendum passing if it were held today? Bob Pelekanakis, Seaford
