UK food exports reach a record high on surge in salmon sales
The Dollar Business Bureau Britain’s food and drink exports increased 8.5% to £10.2 billion during the first six months of this year, supported by sales in British salmon and decline in the value of pound after Brexit vote last year. Fish exports surged more than 53% in terms of value to £408 million, said Food and Drink Federation (FDF) – a representative body of manufacturers in UK. Whisky continued to be the top exporting item, followed by salmon fish. The beer comes at the third place after taking over the chocolate. Since the Britain voted to exit the EU in June 2016, the pound has dropped sharply against the euro and dollar, giving push to the exports as they became comparatively cheaper. However, the weaker ...
UK exports to the EU surge on weaker pound
The Dollar Business Bureau UK’s merchandise exports surged in the first half of this year, due to a weaker pound and increase in sales to the EU countries. UK’s imports are higher than the exports, leading to trade deficit of around €53 billion (£48 billion) during the first six months of this year in its trade with the EU bloc. However, the deficit dropped from €57.8 billion during the same period in 2016. Due to a weaker pound, British-made products have become more competitive overseas, whereas imports have become more costly for companies and consumers in UK. The exports of goods from Britain stood at €104 billion to the rest of the world, surpassing the €94.7 billion worth of exports to EU clients. However, the ...
Tata bidder UKs Excalibur Steel may cut 1000 jobs
The Dollar Business Bureau Excalibur Steel UK Ltd, one among the potential bidders of Tata’s steel business in UK, is planning to cut another 1,000 jobs if it is successful in the bidding process. This is in addition to the 1,000 jobs already declared by Tata management earlier. Excalibur and Indian tycoon Sanjeev Gupta’s Liberty House are the two potential buyers. To free itself from the burden of £1 million losses per day, Tata Steel is expecting a quick sale of its UK steel business. It is waiting for receiving letters of intent from the prospective buyers. It held talks with 190 potential bidders for its biggest plant in the UK - Port Talbot in south Wales, where around 4,000 people work ...
Fever-Tree Gin and Tonic returns to Indian shore
India is one of the top five gin markets in the world, and Fever-Tree sees India as a long-term platform for its growth Jayashankar Menon | @TheDollarBiz UK Deputy Prime Minister Nick Clegg during the launch at the British High Commission on August 25, 2014 as part of the UKTI trade mission Tim Warrillow, promoter of the UK-based gin manufacturer Fever-Tree, is in India along with the UK Trade and Investment (UKTI) delegation led by the UK Deputy Prime Minister Nick Clegg. The delegation is visiting India as a part of the British Government's policy to boost exports and Prime Minister David Cameron's commitment to increase exports to one trillion pounds (about $1.65 trillion) by 2020. Fever-Tree could play an important role in ...
