Growing Appetite for Home-Grown Olive Oil Drives Australian Producers’ Success
In a delightful turn of events, Australian olive oil is experiencing a resurgence in popularity driven by surging international prices. Home-grown olive oil has become more competitively priced, enabling it to capture an expanding market share. Michael Southan, CEO of the Australian Olive Association, notes that consumers increasingly value the origin of extra-virgin olive oil and are happy to pay a premium for quality. Despite a minor dip in olive oil sales, this shift toward Australian-produced varieties significantly boosts the industry. The rising preference for local olive oil emphasizes the importance of quality over quantity in consumers’ choices.
Unlocking the Truth, The Safety of Kuwait’s Tap Water
In a surprising revelation, Kuwait’s tap water emerges as a safe and clean choice for residents and visitors alike. The Ministry of Commerce and Industry’s decision to mandate tap water offerings in restaurants and cafes has shed light on the high quality of Kuwait’s water supply. Behind this assurance lies a meticulous process at the Water Resources Development Center involving daily water testing from various institutions across the country. Swift action against any contamination underscores Kuwait’s commitment to water safety. While responsibility for clean water extends up to the building meter, building owners are urged to address any internal plumbing issues, with water filters serving as a viable solution.
Swatch positive on recovery in luxury demand from China
Swatch Group shares hit their highest level in nearly two-and-a-half years on Tuesday after the world’s biggest watchmaker said it expected a recovery in luxury demand from China.
EXCLUSIVE Chinese defence firm has taken over lifting Venezuelan oil for debt offset -sources
China has entrusted a defence-focussed state firm to ship millions of barrels of Venezuelan oil despite U.S. sanctions, part of a deal to offset Caracas’ billions of dollars of debt to Beijing, according to three sources and tanker tracking data.
Recession fears creep into ECB thinking at summer conference
European Central Bank policymakers put on a brave face at their annual gathering in the hills above the Portuguese capital and forecast further economic expansion despite looming gas shortages, but in private conversations recession fears were increasingly dominant.
Analysis: Wealth shock – property bust in small Chinese cities rattles households
Home owners in small Chinese cities are battling a rare property market downdraft as buyers keep away, eroding the wealth of millions in a blow to already brittle consumer confidence in the world’s second-largest economy.
Analysis: BOJ has little room to move as Ukraine clouds recovery, prices soar
The crisis in Ukraine is giving the Bank of Japan a headache not facing other major central banks, forcing it to maintain a more dovish stance on monetary policy despite rising inflationary pressures and a dearth of tools to combat another economic downturn.
S.Korea’s GDP growth climbs to 11-year high, but recovery uneven
South Korea’s economy expanded at the fastest pace in 11 years in 2021 helped by a jump in exports and construction activity, tempering declines in capital investment and a slow recovery in the coronavirus-hit service sectors.
Asia shares stumble on weak China data, U.S. dollar heavy
Asian shares were dragged lower by weakness in Chinese economic data on Thursday although investors seemed relieved that U.S. inflation data was not hot enough to force even faster monetary tightening by the Federal Reserve.
Japan Oct retail sales boosted by fuel-price spike, broad trend still soft
Japan’s retail sales rose for the first time in three months in October, though less than expected, and the underlying private consumption trend pointed to persistent strains on a fragile economic recovery despite an easing of COVID-19 curbs.
