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Daily Tribune
an hour ago
- Business
- Daily Tribune
Al Baraka integrates faith and fintech
TDT | Manama Al Baraka Islamic Bank is demonstrating that Islamic finance can deliver cutting-edge performance, earning global praise for its seamless USD payment processing while staying true to Sharia principles. The Bahrain-based bank has received the Straight-Through-Processing (STP) Award from The Bank of New York Mellon (BNY), a leading global financial services firm. The award recognises institutions with highly automated and accurate cross-border payment systems, validating Al Baraka's ability to blend ethical banking with digital sophistication. Global validation BNY grants the STP Award to financial institutions that meet the highest benchmarks in straight-through-processing of payments, meaning transactions completed without manual intervention. The award was presented by Salman Alhashimi, Head of MEA NBFIs and Deputy Head of the GCC Region at BNY, to Dr. Adel Abdullah Salem, CEO of Al Baraka Islamic Bank, in the presence of Hussain Yousif Atiya, Chief Corporate and Institutional Banking Officer. 'We are proud to receive this recognition from BNY, which reflects our continued focus on operational excellence and innovation in financial services,' said Dr. Salem. 'It is the result of our ongoing investment in digital infrastructure and our commitment to delivering efficient and reliable banking experiences to our clients.' Ethical meets efficient Atiya added, 'This award underscores the competence of our teams and their dedication to providing solutions that meet the highest standards for international banking and executing global payments. We're well poised to expand our offering of digital banking services to corporate and financial institution clients.' Al Baraka's achievement challenges assumptions that Islamic banks may lag in technological adoption due to Sharia governance frameworks. On the contrary, the bank's systems are not only compliant but also competitive, proving that religious values and world-class fintech can coexist.
CairoScene
an hour ago
- Business
- CairoScene
EGPC & Petrobel Begin Production at Zohr 6 Gas Field
The Egyptian General Petroleum Corporation and Petrobel have started production at the Zohr 6 field, targeting 40–50 million cubic feet of gas per day to help stabilise Egypt's energy supply. Jun 20, 2025 The Egyptian General Petroleum Corporation (EGPC) and Petrobel have begun natural gas production from the Zohr 6 field in the Mediterranean Sea, with initial output estimated between 40 and 50 million cubic feet per day starting in June. The new production comes as part of a broader strategy to increase domestic gas supply and reduce reliance on imports, particularly for electricity generation and industrial Zohr 6 field was prepared for operation following the arrival of a drilling vessel in January and the completion of key water leakage mitigation procedures, including chemical injection and well isolation measures designed to ensure production remains central to Egypt's long-term energy strategy. Since the start of its development with Italian energy giant Eni, the field has attracted total investments of approximately USD 39 billion, with USD 13.5 billion specifically allocated to field development. Current production from the Zohr field ranges between 1.1 and 1.2 billion cubic feet per day, accounting for around 30% of Egypt's total natural gas launch of Zohr 6 aligns with ongoing offshore exploration and drilling activity in the Mediterranean. Between July 2024 and May 2025, eight new wells were drilled and another eight evaluated across various offshore blocks. Five new gas discoveries were made during the current fiscal year, which are expected to feed into Egypt's medium-term energy declining output from mature fields has prompted Egypt to import around 1.6 billion cubic feet of gas per day through LNG shipments and regional pipelines, currently meeting 25 to 30% of the country's overall gas demand. The new output from Zohr 6 is part of efforts to reduce that reliance and stabilise domestic energy availability.
Time of India
2 hours ago
- Business
- Time of India
Crude oil price rise to increase import bill by $13–14 bn, widen CAD by 0.3% of GDP: ICRA
New Delhi: A $10 per barrel increase in average crude oil prices could raise India's net oil imports by $13–14 billion and widen the current account deficit (CAD) by 0.3 per cent of GDP, rating agency ICRA said in a report. The agency said that following the June 13 conflict escalation between Israel and Iran, crude prices rose sharply from $64–65 per barrel to $74–75 per barrel, raising concerns for crude- and gas-importing countries like India. India sources 45–50 per cent of its crude oil and nearly 54 per cent of its liquefied natural gas (LNG) from West Asia via the Strait of Hormuz (SoH). ICRA said that geopolitical tensions in the region have increased the risk to global energy trade, with any disruption at SoH potentially impacting about 20 per cent of global oil and 25 per cent of global LNG supplies. The agency has projected Brent crude oil prices to average $70–80 per barrel in FY26, with net oil imports expected at around $120 billion, compared with $123.4 billion in FY25. ICRA estimates the CAD to widen to $50–52 billion or 1.2–1.3 per cent of GDP in FY26, from 0.9 per cent in FY25. Marketing margins of oil marketing companies (OMCs) for petrol and diesel are likely to moderate to Rs 6–8 per litre in FY26 due to higher crude prices. Under-recoveries on subsidised liquefied petroleum gas (LPG) may increase to Rs 160 billion. While upstream companies may not see an immediate impact on their earnings at current crude prices, a prolonged surge could affect private investment and macroeconomic stability. ICRA also noted that natural gas prices are likely to rise in the upcoming reset in July 2025. The agency expects the Administered Pricing Mechanism (APM) gas price to revert to USD 6.75 per mmBtu from USD 6.5 per mmBtu. New well gas (NWG) prices are also estimated to increase by 10 per cent. India imports over 20 per cent of its global LNG from Qatar and UAE, with 85 per cent of their LNG exports passing through the SoH. Any extended disruption to shipping lanes could impact LNG supply and pricing in the domestic market. Gas-based power plants, currently operating at plant load factors of less than 20 per cent, are unlikely to see major changes unless domestic gas availability improves. Fertiliser companies may witness higher input costs and elevated subsidy needs, particularly for urea and ammonia. The report said that city gas distribution (CGD) companies and industrial consumers may also face higher spot LNG costs and shipping rates. ICRA further estimates that a 10 per cent increase in crude oil prices could lead to an 80–100 basis points increase in wholesale price index (WPI) inflation and a 20–30 basis points increase in consumer price index (CPI) inflation, depending on how much of the increase is passed on to end-users. India's GDP growth forecast of 6.2 per cent for FY26 could also be revised downward if crude oil prices remain elevated. The Reserve Bank of India's (RBI) April 2024 Monetary Policy Report estimated that a 10 per cent rise in crude oil prices over a baseline of USD 70 per barrel could reduce GDP growth by 15 basis points. ICRA said any extended disruption or closure of the SoH could impact India's LNG import availability and cost, increase domestic gas prices, and alter energy sector trade flows.
Malaysian Reserve
2 hours ago
- Business
- Malaysian Reserve
Feed Phosphate Market worth $3.52 billion by 2030- Exclusive Report by MarketsandMarkets™
DELRAY BEACH, Fla., June 19, 2025 /PRNewswire/ — The feed phosphate market is estimated at USD 2.79 billion in 2025 and is projected to reach USD 3.52 billion by 2030, at a CAGR of 6.0% from 2025 to 2030, according to a report published by MarketsandMarkets™. Feed phosphates contribute to the overall health and welfare of animals, including bone development, energy metabolism, and immunity. Consequently, livestock and poultry farmers should benefit from feed phosphates that enhance animal welfare, leading to increased usage of feed phosphates in the future. The feed phosphates market is experiencing growth due to various factors, such as the rising global demand for animal protein, the expansion of livestock production, improved feed efficiency, a focus on animal health, regulatory support, technological advancements, greater awareness of animal nutrition, the adoption of sustainable farming practices, and ongoing research and development efforts. As the world's population continues to grow, the demand for animal-based products is expected to rise further, driving the expansion of the feed phosphates market in the future. Browse in-depth TOC on 'Feed Phosphate Market'150– Tables60– Figures250– Pages Download PDF Brochure: By form, the powdered form segment holds the highest CAGR during the forecast period. The powdered form of feed phosphate offers an excellent opportunity in the manufacturing of animal feed, standing out due to its ease of handling, rapid blending, and even distribution in a feed mixture. The feed phosphate is primarily phosphorus, an essential nutrient for muscle development, growth, reproduction, and overall health (bone health) and is usually sourced from dicalcium phosphate (DCP) or monocalcium phosphate (MCP). The specific formulation ensures good solubility in water or feed by incorporating dairy feed products. It dissolves easily in water or mixtures, facilitating an even distribution of phosphorus within the feed. Phosphate also contains the highest concentration of phosphorus in feed formulations, representing an inexpensive source of phosphorus to meet livestock and poultry nutrition targets throughout all life stages. By livestock, the swine segment holds the third-largest share in the feed phosphate market. According to the International Magazine for Animal Feed & Additives Industry, global pig feed production is projected to decline by 0.6% in 2024, totaling 369.293 million mt. Production growth in the European, Latin American, and North American pork segments was offset by decreases in Africa and the Middle East, Asia-Pacific, and Oceania. The overall trends were partly influenced by the ability of producers in these regions to recover from previous outbreaks of African swine fever (ASF), the potential for export demand that allows Europe and Latin America to recover their lost production, and the decisions of producers in each region to maintain a recovery focus. For the pig feed segment to grow on a global basis, disease control and the stability of feed prices will affect both the porcine industry and the pig feed segment, potentially presenting significant opportunities for growth in 2024. Request Sample Pages: Based on region, North America holds the highest CAGR during the forecast period. The feed phosphate market in North America is steadily gaining traction due to the strong cultural ties of livestock and poultry, as well as the established industries in the region. The increased demand for quality protein sources through meat, dairy, and poultry products has led to a need for balanced nutrients in animal feed. Feed phosphates play an essential role in ensuring bone development, improving feed efficiency, and maintaining livestock health, making them a crucial ingredient in livestock formulations. Factors that may drive market growth in the region include the increased reliance on intensive livestock production, advancements in feed technology, and a growing awareness of animal nutritional management with sustainably sourced feed ingredients. The impact of climate change has prompted regulations that promote the efficient use of phosphorus as a nutrient to help maintain biodiversity. Nevertheless, feed producers will continue to respond to demands from producers for only the highest-grade phosphates through feed formulations that are both bioavailable and sustainably sourced. The report profiles key players including Mosaic (US), Nutrien (Canada), OCP (Morocco), Yara (Norway), EuroChem Group (Switzerland), PhosAgro Group (Russia), Phosphea (France), Fosfitalia Group (Italy), J.R. Simplot Company (US), Rotem Kimyevi Maddeler San. Tic. A.S. (Turkey), Lomon Corporation (China), Sinochem Yunlong Co., Ltd. (China), Malaysian Phosphate Additives Sdn. Bhd. (MPA) (Malaysia), Guizhou Chanhen Chemical Corporation (China), and Yunnan Yuntianhua Co., Ltd. (China). Get 10% Free Customization on this Report: Browse Adjacent Reports @ Agriculture Industry Market Research Reports & Consulting Related Reports: Feed Additives Market by Livestock, Type (Amino Acids, Probiotics, Vitamins, Acidifiers, Enzymes, Flavors & Sweeteners, Mycotoxin Detoxifiers, Minerals, and Antioxidants), Livestock, Form, Source, Function, and Region – Global Forecast to 2029 Feed Binders Market by Type (Lignosulfonates, Plant Gums & Starches, Gelatin & Other Hydrocolloids, Clay, Molasses, and Others), Livestock (Poultry, Cattle, Swine, Aquatic Animals, Dogs & Cats, and Others), Region – Global Forecast to 2025 About MarketsandMarkets™ MarketsandMarkets™ has been recognized as one of America's Best Management Consulting Firms by Forbes, as per their recent report. MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. With the widest lens on emerging technologies, we are proficient in co-creating supernormal growth for clients across the globe. Today, 80% of Fortune 2000 companies rely on MarketsandMarkets, and 90 of the top 100 companies in each sector trust us to accelerate their revenue growth. With a global clientele of over 13,000 organizations, we help businesses thrive in a disruptive ecosystem. The B2B economy is witnessing the emergence of $25 trillion in new revenue streams that are replacing existing ones within this decade. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing. Built on the 'GIVE Growth' principle, we collaborate with several Forbes Global 2000 B2B companies to keep them future-ready. Our insights and strategies are powered by industry experts, cutting-edge AI, and our Market Intelligence Cloud, KnowledgeStore™, which integrates research and provides ecosystem-wide visibility into revenue shifts. To find out more, visit or follow us on Twitter, LinkedIn and Facebook. Contact:Mr. Rohan SalgarkarMarketsandMarkets Inc.1615 South Congress 103, Delray Beach, FL 33445USA: +1-888-600-6441Email: sales@ Insight: Our Website: Source: Logo: View original content:
Business Upturn
2 hours ago
- Business
- Business Upturn
Food Lyophilization Equipment Market Set to Hit USD 1.60 Billion by 2030
By GlobeNewswire Published on June 20, 2025, 04:30 IST Delray Beach, FL, June 19, 2025 (GLOBE NEWSWIRE) — The global appetite for clean, convenient, and nutrient-rich food is reshaping the way food is preserved—and freeze-drying is stepping up. The global food lyophilization equipment market, valued at USD 1.19 billion in 2025, is projected to reach USD 1.60 billion by 2030, growing at a CAGR of 6.0%. What's Driving the Surge? Modern consumers want it all—taste, nutrition, convenience, and shelf life. Freeze-drying delivers just that, removing moisture from food without compromising its integrity. As a result, food brands are investing in lyophilization equipment to offer products that are: Preservative-free Shelf-stable Nutrient-dense Clean-label compliant This trend is particularly strong in urban centers and export markets where longer shelf life and natural ingredient integrity matter. E-commerce and DTC Fueling Growth The rise of online grocery shopping, meal kits, and direct-to-consumer (DTC) food brands is opening massive opportunities for freeze-dried foods. These channels demand: Lightweight, compact packaging Long shelf life Reliable quality through long-distance shipping Freeze-dried foods check all the boxes, making lyophilization equipment essential for food brands going digital. As startups and mid-sized players scale, they increasingly turn to: Modular systems for flexibility Automated freeze-dryers for efficiency Small-batch setups for pilot production This is creating new demand for scalable, compact systems tailored for DTC growth. Request Personalized Data Insights for Your Business Goals Asia Pacific: The Next Freeze-Drying Powerhouse Expect the Asia Pacific region to lead the global growth curve, clocking the highest CAGR through 2030. Here's why: Urbanization and rising incomes are shifting diets toward packaged foods. China, India, and Southeast Asia are seeing surging demand for healthy, ready-to-eat, long-lasting products. Government support, infrastructure investment, and cost-effective manufacturing attract global players. Food safety awareness is rising, prompting companies to adopt advanced freeze-drying technologies. The region is also emerging as a contract manufacturing hub for freeze-dried products—another signal of the boom ahead. Why Lab-Scale Equipment Is Leading ? Lab-scale lyophilization units currently dominate the food lyophilization equipment industry, and for good reason. They're the go-to choice for: R&D teams testing new recipes Startups validating product-market fit Universities exploring food science innovation These compact units are: Cost-effective Easy to operate Ideal for small-batch experimentation Equipped with adjustable settings for optimal testing As innovation accelerates, these systems are key to launching successful freeze-dried snacks, fruits, dairy, and ready-to-eat meals. Key Questions Addressed by Food Lyophilization Equipment Market Report What are the fastest-growing food segments adopting lyophilization? How do regional regulations impact equipment adoption rates? What adjacent markets are influencing technology trends in food lyophilization? What technological innovations are driving food lyophilization growth now? Why is Asia-Pacific expected to lead the food lyophilization market? What are the main challenges in scaling up food freeze-drying technology? How do automation and energy efficiency influence equipment adoption? Leading Players Shape the Global Food Lyophilization Equipment Market GEA Group Aktiengesellschaft (Germany), Hosokawa Micron Powder Systems (US), Tofflon Science and Technology Group Co., Ltd (China), Spincotech (India), and Martin Christ Gefriertrocknungsanlagen GmbH (Germany). Stay ahead with expert insights on Food Lyophilization Equipment Companies and innovations. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash GlobeNewswire provides press release distribution services globally, with substantial operations in North America and Europe.
