Archive: November 11, 2021

Children’s Day Special Offers on Fooza Foods Private Limited App

Kolkata, 11th November 2021: On the onset of this Children’s Day, Fooza envisions to be one of the most dynamic and innovative food delivery platforms for food lovers. Fooza Foods Private Limited, one of the leading online food delivery apps in Kolkata, celebrates Children’s day to add more to the kid’s taste buds around the city.

To celebrate this special day, Fooza and its select partner restaurants have come up with several fun offers including: a delicious breakfast combos for a pocket-friendly budget from Boma Asian Bakery; Creamy white Sauce Cheese pasta from 3 Idiots Dhaba; and a Children’s Day dining menu from Golden Bowl Restaurant with mouth-watering specials like Chicken Hakkah Noodles, Honey Lemon Chicken, orfinger-licking dessert Triple Chocolate Shake.

Speaking on the same, Mr. Kapil Lohia, CEO, Fooza Foods Private Limited, added that, “This year Fooza is celebrating Children’s Day hoping to bring a smile to all the little ones out there. The pandemic has been hard on every one of us, but it’s been even harder on children as they have been inside or online for the last year and a half. Hence, Fooza has come up with delicious offers for the kids, keeping their safety in mind, to make the day worthwhile. The best ingredient behind a child’s good upbringing is to make them happy, and for Fooza’s customers, food is happiness!

About Fooza:

Headquartered in Kolkata, Fooza Foods Private Limited is the food tech company leading a new wave of innovation in India’s food ordering and delivery business. The company started its operations in December 2020 in Kolkata. Fooza aims to createa the widest network of multi-cuisine food suppliers across select cities and locals in India. In addition to specialty and multi-cuisine restaurants, Fooza offers a world of food choices by bringing together experienced chefs, home kitchens all under one roof.

For Further information Contact
Candid Communication
Sumana Sarkar- 8697727257/ Trisha Dasgupta- 8697727258

Royal Commission for AlUla and UNESCO announce partnership to share Saudi Arabia’s rich cultural heritage with the world

Paris, France, November 10, 2021: The Royal Commission for AlUla (RCU) today signed a long-term strategic partnership with UNESCO to preserve and promote a cultural landscape of outstanding natural and historical significance in North-West Saudi Arabia

Signed at the UNESCO Headquarters in Paris, the agreement accelerates the ongoing cultural and socio-economic renaissance of AlUla by further protecting its historical, natural and cultural sites as well as its local culture, by fostering capacity building and knowledge transfer with experts from around the world joining RCU efforts to transform AlUla into a benchmark destination for heritage, nature, arts & culture.

The partnership was signed by HH Prince Badr bin Abdullah Al-Saud, Governor of RCU and Minister of Culture of Saudi Arabia, with Audrey Azoulay, Director General, UNESCO; HH Princess Haifa AlMogrin, Ambassador, Saudi Arabia’s Permanent Delegation to UNESCO, and Amr AlMadani, CEO of RCU.

Audrey Azoulay, Director General, UNESCO declared: “The relationship between Saudi Arabia and UNESCO builds on a long history that extends back to 1946, when the Kingdom became a Member State of our Organization. Today, cooperation between UNESCO and the Kingdom of Saudi Arabia is taking another important step forward, with a view to accompanying a major transformation of the AlUla region.”

HH Prince Badr bin Abdullah Al-Saud, Governor of RCU and Minister of Culture of the Kingdom of Saudi Arabia said: “It is the vision of His Royal Highness Prince Mohammed bin Salman, Crown Prince of Saudi Arabia, to transform AlUla into a global destination for heritage, nature, arts & culture. The signing of this first-of-its-kind agreement is another significant moment in our journey towards reaching these ambitions and building upon the enduring relationship that exists between Saudi Arabia, RCU and UNESCO. Aligned with Saudi Arabia’s Vision 2030 plans and UN Sustainable Development Goals, this partnership will connect AlUla’s past, present and future by harnessing the power of education, science and culture to act as a catalyst for sustainable development model and long-lasting change.”

HH Princess Haifa AlMogrin, Ambassador, Saudi Arabia’s Permanent Delegation to UNESCO said: “The Kingdom of Saudi Arabia is home to some of the most unique and culturally significant heritage sites, of which AlUla is the most iconic and inspiring. As a global institution that celebrates and protects cultural and heritage diversity, UNESCO will be instrumental in helping to advance RCU’s commitment to fulfilling the potential of the AlUla region, its people, landmarks and natural environment through diverse development and economic programmes that reflect Saudi Arabia’s Vision 2030 and UNESCO’s efforts towards Sustainable Development.”

Amr AlMadani, CEO of RCU said: “Mutually beneficial partnerships and alliances are essential to our strategy and demonstrate an open and engaged dialogue that amplifies AlUla’s heritage status and show culture’s capacity to be an engine for sustainable and long-term development. The alignment of RCU, UNESCO and Saudi Arabia’s Vision 2030 is powering growth, fostering intellectual, cultural and scientific exchange and enabling wisdom to grow on a global scale in full alignment with the 17 UN’s Sustainable Development Goals. Our motive for protecting and evolving AlUla is to help bring it to the world, to develop shared knowledge, grow understanding of AlUla’s past and anticipation of its future by establishing it as a destination of global prominence for visitors and residents alike, in partnership with UNESCO.”

AlUla tells the story of 200,000 years of human history. It has been home to ancient civilisations, including the Dadanties, Lihyanites and Nabateans who each left their indelible imprint on the area, most clearly preserved in grand tombs carved into the mountains.

The partnership will see the implementation of knowledge-based initiatives to transform sustainably and responsibly the cultural, heritage and natural landscape of AlUla and establish this vast swathe of north-west Saudi Arabia as the world’s largest living museum.

AlUla’s development will establish it as a unique destination home to a culturally rich local population who are empowered to interact with and inspire visitors through informed storytelling.

Leading academics from across the globe will be invited to explore AlUla through immersive opportunities designed to unlock the secrets of ancient languages and societies that are captured in time in AlUla.

RCU will work alongside UNESCO and global experts on key programmes including:

• Memory of the World, focused on the preservation of documentary heritage.
• UNESCO-Kingdoms Institute Fellowships Programme, for researching, preserving, promoting and transmitting heritage.

The jewel in Saudi Arabia’s heritage crown, AlUla is part of the Kingdom’s Vision 2030 plan to unlock its vast cultural, tourism and economic potential. UNESCO and Vision 2030’s Agenda for Sustainable Development are strategically aligned to promote education, culture and science as a powerful platform to stimulate economic opportunities, job creation and growth.

Spanning the next five years and focused on 10 programmes, the new partnership includes the listing of new natural and cultural sites under UNESCO’s taxonomy to protect and promote local heritage and natural landscape and ecosystems. Key sectors that will shape this include heritage conservation, education and capacity building, nature and creative arts, with local people as the main beneficiaries of AlUla’s development.

Helping to open up the long-hidden potential, knowledge and unique culture that make up Saudi Arabia’s identity and heritage, AlUla will act as a laboratory for sustainable development models and conservation practices while also enabling UNESCO to increase its footprint in the region.

The agreement builds on a long history of collaboration between Saudi Arabia and UNESCO that extends back to 1946 when the Kingdom was one of 20 countries to ratify the UNESCO constitution. Over the years this relationship has continued to thrive and develop in both directions; UNESCO designated Hegra in AlUla as Saudi Arabia’s first World Heritage Site in 2008, KSA became a member of UNESCO’s Executive Committee in 2019 and was elected to UNESCO’s Intangible Cultural Heritage Committee for the first time in 2020.

Countries Call On WHO To Consider Science-Based Regulations To Tackle Smoking Problems

Mumbai, November 11, 2021: The 9th edition of the conference of parties (COP 9) of the WHO’s Framework Convention on Tobacco Control is currently being held virtually this week.  During the event, Teodoro Locsin Jr. the Foreign Affairs Secretary, Philippines has called on the WHO “to regain the momentum” of tobacco control and consider “evolving and latest scientific information” in solving the global smoking problem. Philippines – Statement WHO FCTC Global Progress Report 2021 – YouTube

The Philippines Minister has said tobacco is a source of bad health but acknowledged that it “is also a source of good through taxation.” “Tobacco tax laws fund our poverty reduction, Universal Health Care, and COVID-19 recovery programs. They underscore the importance of tobacco use and funding of the state’s most important activities,” he said.

Locsin stressed that the Philippines’ position is for regulation and taxation, noting that a total ban is not under consideration due to the unwanted consequences that it poses.

Locsin noted that the tobacco industry is making progress in moving away from harmful products by introducing “products with similar satisfaction but with far less harm.” To cover the “far less harmful novel tobacco products,” Philippines has passed two more excise tax laws which ban the sales of e-cigs to minors and flavorings on vapor products.

“These laws recognize the fundamental difference between various tobacco and nicotine products – and acknowledge the benefits of continuing taxation on revenue rich activity,” Locsin said.

The FCTC is a global accord under the auspices of the World Health Organization (WHO) governed by (COP) which meets bi-annually to discuss the progress of the treaty’s implementation and policy recommendations around tobacco for its member states.

In a quest towards progressive regulations around tobacco harm reduction, Philippines’ recent remarks and positive policies is a reminder for regulators across the world to develop policies based on relevant and updated scientific evidence as opposed to moralistic policies.

Every year, healthcare expenditure and loss of productivity amount to a massive loss, especially impacting emerging economies. Smoke-free nicotine products offer a promising route to reduce the harms arising from smoking and is backed by compelling evidence. Yet, policy decisions deny adult smokers the option to switch to better alternatives – either through outright bans, outdated regulation or philosophical opposition.

India is home to 12% of world’s smokers making it the second largest tobacco consuming population in the world. Despite these spiraling numbers, the country has made limited progress to promote measures to control tobacco based on relevant scientific, technical, and economic considerations. As one of the largest emerging economies, India could have led by example by adopting scientifically approved safer alternatives, yet the country banned THR products. This approach misses a huge opportunity to address the problem of cigarette smoking, considered by many to be the leading preventable cause of death and disease in India.

Extreme policies like bans go against the growing body of science that points to these products being significantly less harmful than cigarette smoking. Many experts and health authorities around the world, such as the UK’s Royal College of Physicians and Public Health England, have recognized that smoke-free alternatives to cigarettes represent a revolutionary opportunity to reduce the harm caused by cigarette smoking. As per a report undertaken by Public Health England ‘E-cigarettes: An evidence update’, E-cigarettes are 95% less harmful than normal cigarettes.

Realizing these vast benefits, many countries including UK, US, Japan and even emerging economies like Thailand and Uruguay are exploring progressive regulations to legalise e-cigarettes to help adult smokers quit real cigarettes.

WHO Framework Convention on Tobacco Control mandates countries to promote measures of tobacco control based on scientific evidence and economic considerations. Yet, many countries continue to look at the worst form of regulation by banning safer alternatives to tobacco. According to Locsin, the updating reports at COP 10 “must be done with transparency and in full consultation with all stakeholders so that our national experiences are all taken into account and due importance accorded each.

While Governments have historically looked at education, regulation and taxation to control the growing number of tobacco smokers, there is an urgent need to revisit its stance and provide smokers safer alternatives to smoking.

RSWM Ltd. commits INR 330 Cr for Capex in FY22; delivers strong business performance in H1 FY22

New Delhi, 11^th November 2021: RSWM Ltd., one of the largest manufacturers and exporters of synthetic and blended spun yarns from India, announced its financial results for the quarter ended September 30, 2021.

Financial and Business Outlook for Q2 and H1 FY22

RSWM Limited delivered a robust business performance and closed H1FY22 with INR 82 crores Profit After Tax (PAT)- a strong return to profitability after the loss of INR (83) crores in the corresponding period  H1FY21. The company continued to see the rallying effect of the positive sentiments and market recovery on the business in FY22, reflecting in the strong sales and profit results recorded in the first half of the year, despite the continued lockdown in the initial months of H1 FY22.

Despite the lockdown induced restrictions in many parts of the country during the second wave of COVID-19, RSWM Ltd. registered a turnover of INR 1695 crores in H1FY22 against INR 769 crores in the corresponding period in FY21. Within the group, RSWM Yarn business witnessed a sudden surge in demand in H2FY21. With ease in restrictions, the denim business performed better with increasing demand from existing customers which continues to see upwards growth trend and reflects in the strong business performance of the group.

RSWM also announced its business plans, including a few critical structural changes, manufacturing capacity building and allocation of INR 330 crore to continue growth trajectory and stronger financial performance. The investment allocation will support expansion of Denim Fabric manufacturing capacity, Cotton Melange Yarn manufacturing capacity and Modernisation & Balancing equipments across all units.

With strategic inteventions and focused efforts, RSWM has improved its Debt Equity ratio from 1.56 as on 31.03.18 to 0.92 as on 30.09.21. Over the last 4.5 years, the debt has been reduced to INR 612 crores. from INR 1402 crores. as on 31.03.18 to INR 790 crores. as on 31.09.21.

Current Scenario and Outlook

RSWM is looking forward to continued robust business performance in Q3FY22. Despite the initial impact of local lockdowns and night curfews which impacted dispatches in the first quarter of FY22, consumer sentiments and market confidence improved due to increasing vaccination. Along with this, operations at the manufacturing plants remained normal. Moreover, increased penetration of organised retail, festive celebrations, favourable demographics and rising income level is expected to drive demand of Textiles after recording sharp increase in in Online apparel buying during COVID 19 lockdowns. With this, pandemic has also led to increased demand for Technical Textiles.

Additionally, the company will be setting up 30,000 spindles of Mélange yarn at its largest unit in Kharigram (Rajasthan) and also installating  20,000 spindles for combed cotton at the yarn facility in Mordi (Banswara).  This is apart from the modernization and balancing equipment across all the locations in FY22.

Denim Business

The denim business expects to perform well given the global industry forecast. In addition, the company expects new opportunity creation in the denim market owing to the demand for recycled denim. The addition of important global brands to RSWM’s clients’ portfolio lends growth optimism in the coming years. The company also reinforces its sustainability efforts to protect the environment by recycling waste and converting it into wearables.

Sufficient cash generation has put the company in very comfortable position in terms of liquidity.

The investment in Denims allocated for building facility of 8.4 million metres of denim capacity for sheet dyeing and finishing capacity at Mordi.

Commenting on the results, Mr. Riju Jhunjhunwala, Chairman & Managing Director of RSWM Ltd. said,  “FY21 was full of learnings and challenges both in terms of business and battling the pandemic which catalyst for change. RSWM stood among the companies that envisioned the change and showcased agility to prepare to continue delivering better financial numbers in a highly unpredictable ecosystem. Also, FY21 was a very satisfying year for us because we made structural changes that we believe were critical for a sharper focus of business growth. As we step into a new period of growth with a sharper focus on business growth, our consolidation efforts, new investment allocation and focus on core business capabilities building remains critical for sustainable business growth. With stronger business performance in H1 FY22, we are confident that the company would continue to build on the momentum while executing our blueprint with disciplined determination.”