According to a domestic rating agency, ICRA, a sharp rise in commodity prices and increasing competition will hurt the building industry's profitability. due to the significant increase in the prices of essential commodities, particularly steel, bitumen, and cement, the industry is struggling with pressure on input costs.

ICRA stated that "sharp increases in commodity costs, coupled with increased competition, will have a detrimental impact on industry profitability, with a projected drop in operating profitability of 100-200 basis points in the current year."

If maintained, a high increase in commodity prices seen in FY22 could lower participants' profitability in the current fiscal year by 100 to 200 basis points.

Moreover, the…

The markets are responding to the news of Rishi Sunak being the next prime minister of the UK after Liz Truss' 44 historic days in office. The markets have already stabilized on the belief that Sunak might be able to repair the UK's finances.

Mr. Johnson, who only recently resigned as prime minister, asserted that he had enough support to run but conceded that this was "not the right time." Sunak will take office at a time when Ex-PM Liz Truss' mini budget exacerbated an economic crisis and put pressure on public finances. Truss tweeted to congratulate him and offer her "full support" post the announcement.

His rival Penny Mordaunt withdrew after her inability to garner enough support from MPs. In his opening remarks, Mr. Sunak declared…

Indian companies in the specialty chemicals sector report a robust double-digit gain in earnings YoY due to better realizations and rising sales volumes.

In Q2FY23, according to analysts at ICICI Securities, sales would increase 19.3% year over year (YoY) and decreased 0.6% sequentially, partly because of an increase in pricing brought on by an increase in input costs. Gross product will probably increase by 22.7% YoY and decrease by 1.4% sequentially, primarily because of seasonality, indicating a significant underlying trend Analyst forecasts predict a 16.5% YoY increase in net profits.

The unrest in the European chemical markets has increased the focus on specialty chemical firms. European manufacturers have been impacted by higher…

On Thursday, Liz Truss announced her resignation as the Prime Minister of U.K, making her the shortest-serving PM in British history. In a speech delivered outside 10 Downing Street, Truss said she would be in office until a new successor is chosen.  

Liz's time as prime minister ran just 45 days, and she declared that the conservative party would elect a new leader the following week. In the last six years, Truss is the fourth Conservative prime minister to quit.

Her resignation deepens the unrest that has gripped Britain since it left the European Union and placed the country's government in a precarious position as it tackles problems of cost-of-living problem and fears of recession.

Truss might be remembered for how tenuous her hold…

U.S. industrial production rose by 0.4 percent in September because of higher manufacturing output, especially in the auto industry, and the easing of supply-chain constraints. A report issued by the U.S. Federal Reserve revealed that the utility index decreased by 0.4 percent while the mining index increased by 0.6 percent.

Total industrial production in September increased by 5.3 percent from the same month last year, or 105.2% of its 2017 average. In September, capacity utilization increased by 0.2 percentage points to 80.3 percent, 0.7 percenta.ge points higher than the long-term (1972–2021) average.

According to the Federal Reserve, mining output increased by 0.6% thanks to increased oil and gas extraction. Manufacturing capacity…

DIC Corporation, a significant player in the market, has decided to increase sales prices for epoxy resins and epoxy resin curing agents used in insulating materials for electronics components and coatings, among others. The revised prices were likely to be applied to products delivered on or after July 7, 2022. 

DIC revised its sales prices for epoxy resins and epoxy resin curing agents in January 2022. Nonetheless, raw material prices have risen further because of tight market conditions, resulting in issues with the supply-demand balance for individual materials. Rising utility costs and sharp exchange rate fluctuations have further exacerbated the company’s cost burden. The company has taken these steps to absorb such cost increases.…

The first-ever US flagship of the design-driven Australian lifestyle retailer Coco Republic has opened in San Francisco's Union Square. The 40,000-plus square feet store will have more than 2,000 goods, a full design service, and a mocktail bar with Lyres, an Australian company renowned for its premium non-alcoholic beverages. 

Concentrating on creating and growing this distinctive assortment, some of which are influenced by the Californian lifestyle, will benefit the company's growth. The business believed that this was a place that would help their entry into the United States.  

For more than 40 years, Coco Republic has been a respected staple in Australia's luxury lifestyle market. The Coco Republic's design history permeates the…

Uber eats customers will now be able to order some cannabis along with their burgers and fries! Uber Technologies Inc will allow customers in Toronto, Canada, to purchase cannabis using its Uber Eats app. Uber eats has teamed up with the cannabis marketplace Leafly to offer marijuana delivery via the app in Toronto. Leafly is coined “the world's most trusted platform to discover cannabis items and buy them from legal, regulated sellers".

The service will allow customers to select their preferred Cannabis from a digital menu, and employees of CannSell will subsequently fill the orders. CannSell is an Ontario-based marijuana retail education program responsible for verifying the buyer's age and soberness upon delivery.

A year ago, the food…

Elevated inflation and interest rates recently resulted in considerable stagnancy in the building and construction industry across the continents. Though the construction input prices lowered slightly in September, the wholesale price businesses received for building and construction products and materials rose more than expected. A similar factor is anticipated to raise the chances of a hike in interest rates in the battle against inflation in the building and construction industry, including the pre-engineered buildings category.  

Though even a few construction materials have witnessed a slight down in prices, the non-residential construction input prices, including the pre-engineered buildings category, are still up from a year ago.…

DaxibotulinumtoxinA (Daxxify), Revance's long-awaited Botox rival, has officially received FDA approval, as the company is now gearing up to establish its brand. Daxxify is an intravenous neuromodulator similar to Botox; its novel peptide exchange technology temporarily eases the moderate to severe glabellar (frown) lines. 

The trials revealed that a single injection had a significant anti-wrinkle impact on durational effects were proven in phase 3 trials with 4,200 treatments and 2,700 patients. The chief differentiator for Daxxify is its endurance; it can last six months and has even proven effective for up to nine months in some individuals, vis-a-vis Botox injections that last only for three months.

Daxxify was initially scheduled to…

Aptar Food + Beverage has set a new approach to revolutionize the dispensing closure market. The company recently announced 'Slide', which is unique and it does not require the application of a foil liner for shelf-stable food products. Aptar, a more than 50-year-old industry pioneer in dispensing solutions, carried out numerous consumer research while creating this solution. The 'Slide' will give customers a convenient and enjoyable packaging experience because the company realized that removing the liner might be frustrating. With only one opening motion, they can access their goods while preserving their shelf life and lowering the likelihood of product tampering.

Aptar's patented non-detachable tamper evidence system is built into the…

Recently in September 2022, several organizations such as the Food and Agriculture Organization (FAO), the United Nations Environment Programme (UNEP), the World Health Organization (WHO), and the World Organization for Animal Health have collectively created a Rabies control model under One Health International collaboration program to address and prevent dog and human rabies cases. The aim is to avoid dog-mediated rabies in humans and reach zero deaths from rabies by 2030. This coordinated response against rabies will further open doors to control other zoonotic diseases.

In the last few months, there have been several developments in the animal vaccines market.  A COVID-19 vaccine for animals called Ancovax was launched in India in…