Latest news with #KerryGroup
Mail & Guardian
4 days ago
- Business
- Mail & Guardian
Irish business leaders: Africa key to increasing agriculture, food production
Many African countries have doubled the importation of agricultural food crops from outside the continent, even after the ratification of the African Continental Free Trade Area. (Halden Krog/Bloomberg via Getty Images) Irish business leaders whose enterprises operate in Africa have appealed to other businesses to empower Africans, including young people, to increase agriculture and food production on the continent. Promoting education in Africa's food sector, and bringing those individuals forward to lead projects, is key to unlocking the continent's full potential, Chris Teeger of the Kerry Group — which owns the largest and most advanced taste facility in Africa — told a panel discussion at the Africa Ireland Trade Horizons conference in Dublin on Tuesday. Many African countries have doubled the importation of agricultural food crops from outside the continent, even after the ratification of the 'We need to see the value in African people. The youth are the key. The spirit they bring to everything is everything. We need to take those local people and youth, educate them, unskill them and let them lead the future of the food production sector in Africa,' Teeger said. 'We have employed many young people who are graduates from a vast number of universities and they have just grown and grown.' He noted that there is no shortage of resources in Africa and that South Africa, Egypt and Nigeria are leading producers of rice, maize and wheat, adding: 'We need to stop shipping commodities to Africa that are already available in Africa.' Ivor Queally, the chief executive officer of QK Group South Africa, backed Teeger's assessment of food production in the country. The QK group entered South Africa in 2005 and is now a key role player in the cold storage market, boasting one of the leading meat packing facilities in the country. Queally recalled that the company had discovered early on that the process of starting operations in South Africa would not be easy. 'We realised early that there was a gap in terms of education and skills. We therefore had to set up schools to educate our employees. We then noticed a lot of absenteeism in schools and found out that The investment in people, rather than products, had proved a success, Queally added. 'When we entered South Africa, we brought in Irish people to train our employees. Now, we have no Irish employees in South Africa and we bring Africans to Europe to do training on this side.' Africa needs to be promoted in Europe to allow investment that can help the continent reach its full potential, both Queally and Teeger told the forum, adding that Europeans need to understand that opportunities in the food production sector are plenty and that the relationship between the two regions can be equal and mutually beneficial. The journalist's trip to Ireland was sponsored by the Embassy of Ireland in South Africa.
Irish Times
20-06-2025
- Business
- Irish Times
Markets mixed after US indicates it will hold back from any immediate action in Iran
Global markets were mixed in choppy trading on Friday, as inflation concerns and uncertainty around US involvement in the Iran-Israel war offset relief over president Donald Trump holding back from any immediate action. Dublin PTSB was the standout performer on the day in Dublin as it climbed 4 per cent while the Euronext Dublin index was unchanged. Its peers AIB and Bank of Ireland were flat. Dalata, the biggest hotel operator in the State, finished up 3 per cent at €6.40 after a Scandinavian consortium circling the group signalled an interest in potentially making an improved offer for the business, after its €1.3 billion bid was rejected earlier this month. Oslo-based investment firm Eiendomsspar and Swedish hotel company Pandox, in which it owns an almost 25 per cent stake, said they have bought 1.69 million shares in Dalata at €6.30 – marking a premium to the €6.05-a-share non-binding offer it made previously. READ MORE Elsewhere, food giant Kerry Group underperformed as it finished down 1.8 per cent after earlier announcing it has initiated a €300 million share buyback programme that will run until February 27th, 2026. The airlines were a mixed bag, with Ryanair up 0.5 per cent, while longer-haul peers Lufthansa and Aer Lingus parent International Airlines Group were up 2 per cent and 1.5 per cent respectively. London Britain's FTSE 100 snapped a five-week winning streak, closing out a week marred by a wave of global risk aversion amid the conflict between Israel and Iran, while a slew of interest rate verdicts were also assessed. The blue-chip FTSE 100 dipped 0.2 per cent to hit a more than two-week low, while the midcap index ended 0.4 per cent higher, though with marginal weekly losses. Drugmakers GSK and AstraZeneca were among the top drags on the FTSE 100, down 2.3 per cent and 1.5 per cent respectively. Heavyweight energy shares gave back some of their gains from earlier this week as crude oil prices also edged lower. BP lagged with a 2.1 per cent decline. Among headlining stocks, Berkeley dropped 8.2 per cent after the home builder reported results and forecast fiscal 2026 and 2027 profits below market expectations and proposed the appointment of CEO Rob Perrins as executive chair. Europe Euro zone government bond yields were on track for a weekly decline. German 10-year government bond yields, which serve as the benchmark for the wider euro zone, fell 0.5 basis points to 2.51 per cent and were set to end the week 1.5 basis points lower. In the stock markets, the Europe-wide Stoxx 600 finished down 1.5 per cent. The Cac 40 in Paris closed up 0.3 per cent, and the Dax 40 in Frankfurt ended 1.3 per cent higher. New York Wall Street indexes tracked modestly higher as markets took comfort after the White House said Trump will decide in the next two weeks whether the US will join Israel in attacking Iran. Six of the 11 major S&P 500 subsectors rose. Utilities led sector gains with a 1 per cent rise. On the flip side, communication services stocks lost 1.2 per cent. All three main indexes were set for weekly gains. Investors are also bracing for any potential spike in volatility from Friday's 'triple witching' – the simultaneous expiration of single stock options, stock index futures, and stock index options contracts that happens once a quarter. Among megacap stocks, shares of Google parent Alphabet fell 2.5 per cent while chipmaker Nvidia, and Meta were down about 1 per cent each. Kroger rose 9.3 per cent after the grocery chain increased its annual identical sales forecast. GMS shares rose 28.3 per cent after QXO made an offer on Wednesday to acquire the company for about $5 billion in cash. Shares of QXO were up 4.1 per cent. Accenture fell 6.3 per cent after the IT services provider said new bookings decreased in the third quarter. – Additional reporting: Agencies
Yahoo
17-06-2025
- Business
- Yahoo
Sustainability Push Driving Adoption of Enzyme-Based Textile Processing Worldwide - A $7.54 Billion Market by 2030
Recent industry activities highlight the increasing shift towards sustainable textile processing. Sunson Industry Group showcased eco-friendly enzyme solutions at EXINTEX 2024, and Kerry Group enhanced its enzyme capabilities with strategic acquisitions. The market is dominated by the micro-organisms segment, and APAC leads growth due to its robust textile manufacturing sector. Trends such as sustainable, bio-based enzymes and advancements in enzyme technology are fueling market expansion. Textile Enzymes Market Dublin, June 17, 2025 (GLOBE NEWSWIRE) -- The "Textile Enzymes Market - Focused Insights 2021-2030" report has been added to Textile Enzymes Market was valued at USD 5.52 billion in 2024, and is projected to reach USD 7.54 billion by 2030, rising at a CAGR of 5.33%. The global textile enzymes market is set to grow due to rising demand for natural fibers and stringent environmental regulations. The global textile enzymes market report consists of exclusive data on 25 vendors. The market is highly competitive, with key players focusing on innovation, sustainability, and efficiency to gain a competitive edge. Industry leaders like Novonesis, BASF, and AB Enzymes dominate the market with advanced enzyme formulations and strong R&D capabilities. Companies such as Kemin Industries, Sunson, and Kerry Group leverage their biotechnology expertise to expand enzyme applications in textile processing. Regional players like Tex Biosciences, itaita Biotech, and Zytex strengthen their market presence through cost-effective solutions tailored for local textile industries. The market is also witnessing strategic collaborations, product innovations, and sustainability-driven advancements as companies aim to differentiate their offerings and meet evolving industry demands. RECENT VENDOR ACTIVITIES At EXINTEX 2024, one of Latin America's most significant textile trade fairs, Sunson Industry Group Co., Ltd. showcased its advanced textile enzyme solutions, reinforcing the growing role of enzymatic treatments in sustainable textile processing. The introduction of neutral cellulase for biopolishing and denim washing, along with pectinase for bioscouring, highlights the industry's shift towards eco-friendly alternatives that enhance fabric quality while minimizing chemical usage and water consumption. Kerry Group's acquisition of c-LEcta and Enmex in February 2022 strengthens its biotechnology capabilities, particularly in enzyme development and bioprocessing. c-LEcta's precision fermentation and bio-transformation expertise enhances Kerry's ability to create high-value targeted enzymes, while Enmex's manufacturing capabilities expand its reach in enzyme production. This development has implications for the global textile enzymes market, as it reflects the increasing investment in enzyme technology for various industrial applications, including textile processing. KEY TAKEAWAYS By Source Type: The micro-organisms segment accounted for the largest market share, driven by their high efficiency, stability, and scalability, driving increased adoption in sustainable textile processing. By Applications: The bio-polishing segment shows the highest growth of 6.78%, driven by its ability to enhance smoothness, softness, and resistance to pilling. By Geography: APAC dominates the global textile enzymes market and shows the highest growth, driven by the strong presence of textile manufacturing hubs in China, India, Bangladesh, and Vietnam. TEXTILE ENZYMES MARKET TRENDS Shift Toward Sustainable & Bio-Based EnzymesThe growing emphasis on sustainability in the textile industry is driving the demand for bio-based enzymes, as companies seek to minimize their carbon footprint and comply with environmental regulations. This shift is expanding the global textile enzymes market, as manufacturers invest in enzymatic solutions for eco-friendly textile processing. Global sustainability initiatives, such as the UN Sustainable Development Goals (SDGs) and the European Green Deal, encourage the use of eco-friendly alternatives to traditional chemical treatments. This regulatory push is accelerating the adoption of textile enzymes, fueling growth in the global market as companies transition to sustainable production methods. Leading fashion brands, including H&M and Levi's, are incorporating enzyme-based solutions for fabric processing to reduce water and chemical consumption. This increased usage by major brands is strengthening demand for textile enzymes worldwide, driving market in Enzyme Engineering & BiotechnologyContinuous innovation in enzyme biotechnology has led to the development of genetically modified enzymes with enhanced performance, allowing textile processing at lower temperatures and pH levels. This advancement is expanding the global textile enzymes market, as manufacturers seek efficient and eco-friendly alternatives to traditional chemicals. This shift reduces energy consumption by 30-40%, making enzymatic treatments more cost-effective while supporting net-zero carbon goals. The increasing cost savings and sustainability benefits are driving higher adoption of textile enzymes worldwide, boosting market growth. Companies like Novonesis and AB Enzymes are investing in enzyme engineering to create high-efficiency formulations specifically designed for textile applications. Their efforts are accelerating innovation in the global textile enzymes market, leading to the development of specialized solutions for various fabric treatments. The demand for enzyme-based fabric treatments in emerging economies such as India, China, and Brazil is rising due to increasing textile production and sustainability efforts. This growing adoption in key manufacturing hubs is fueling the expansion of the global textile enzymes market, reinforcing its role in sustainable textile ENZYMES MARKET DRIVERS Rising Demand for Natural FibersThe rising consumer preference for organic and sustainable textiles is fueling demand for natural fibers such as cotton, wool, and silk, which require enzymatic treatments for efficient processing. This trend is driving expansion in the global textile enzymes market, as enzyme-based solutions become essential for processing eco-friendly fabrics. The global organic cotton market is expected to grow significantly, with brands like Patagonia and Stella McCartney promoting enzyme-treated natural fibers in their eco-friendly collections. This shift is increasing the demand for textile enzymes, reinforcing their role in sustainable fashion manufacturing. Enzymes such as pectinases, cellulases, and proteases enhance the softness, strength, and longevity of natural fiber textiles, making them ideal for premium and sustainable fashion. As more high-end brands adopt enzyme-based processing, the global textile enzymes market is witnessing strong Environmental RegulationsGovernments worldwide are enforcing strict environmental laws to curb chemical pollution in textile manufacturing, accelerating the shift toward enzyme-based processing solutions. This regulatory push is expanding the global textile enzymes market, as industries seek sustainable alternatives to comply with new standards. Regulatory bodies such as the European Chemicals Agency (ECHA) and the U.S. Environmental Protection Agency (EPA) are imposing restrictions on hazardous chemicals, making enzymatic alternatives a necessity. As a result, the demand for textile enzymes is rising, reinforcing their role in eco-friendly textile processing. The textile industry contributes nearly 20% of global wastewater pollution, pushing regulatory bodies to advocate for green chemistry solutions like enzymes to reduce toxic discharges. This has significantly boosted investments in biotechnology-driven enzyme innovations, strengthening the textile enzymes market. Countries like Germany, Sweden, and the Netherlands are leading in eco-friendly textile production, with enzyme technology playing a crucial role in meeting sustainability targets. The increasing adoption of enzyme-based processing in these regions is setting a benchmark for the global textile enzymes market, encouraging wider implementation across the RESTRAINTS Competition from Chemical Textile Processing MethodsThe textile industry has historically relied on chemical-based processing methods due to their lower costs, faster reaction times, and established supply chains. Despite the push for sustainability, chemical methods such as caustic soda scouring and synthetic bleaching agents continue to dominate in cost-sensitive regions like South Asia (India, Bangladesh, Pakistan) and Southeast Asia (Vietnam, Indonesia, Cambodia), where low-cost textile manufacturing is a major industry driver. According to The Foreign Investors' Chamber of Commerce & Industry (FICCI), Bangladesh's textile sector, contributing 84.58% of export revenue and exceeding $43 billion in 2023-2024, is embracing enzyme-based processing to enhance fabric quality and sustainability. This shift aligns with the global textile enzymes market, as manufacturers adopt enzymatic solutions for eco-friendly and efficient textile ENZYMES MARKET GEOGRAPHICAL ANALYSISAPAC dominates the global textile enzymes market owing to APAC having a huge textile industry that is growing rapidly because of key countries involved like India, China, and Bangladesh, which are major textile producers and exporters in the world. The government in APAC has implemented favorable policies to support the growth of the textile industry. APAC countries also offer a cost advantage over other regions, which makes the production of textiles more cost-effective, and the demand for sustainable textiles is rapidly increasing in the APAC region, which eventually drives the textile enzymes market. Government initiatives promoting eco-friendly textile production in countries like Japan, South Korea, and Vietnam are accelerating the shift towards enzyme-based processing. The project "Promoting Sustainability Standards in the Textile and Garment Industry in Asia" (FABRIC) supports the Asian textile industry in its transformation towards fair production for people and the ENZYMES MARKET COMPETITIVE INSIGHTSKey Vendors Novonesis AB Enzymes BASF Sunson Kerry Group Other Prominent Vendors Bestzyme (Nanjing) Bio-products Denykem Kemin Industries Advanced Enzyme Technologies Ultreze Enzymes Epygen Labs Greenwave Global Antozyme Biotech Nature BioScience Tex Biosciences Infinita Biotech Lumis Biotech Maps Enzymes Starco Arochem Genotek Biochem Zytex Aumgene Biosciences Creative Enzymes Sarex S&D Associates Key Attributes: Report Attribute Details No. of Pages 113 Forecast Period 2024 - 2030 Estimated Market Value (USD) in 2024 $5.52 Billion Forecasted Market Value (USD) by 2030 $7.54 Billion Compound Annual Growth Rate 5.3% Regions Covered Global SEGMENTATION & FORECASTS By Source Type Micro-organisms Animal Tissues Plants By Application Bio-polishing Desizing Bio-sourcing Bleaching Others By Geography APAC China India Bangladesh Vietnam Europe Germany Italy Spain France North America US Canada Latin America Brazil Mexico Middle East & Africa Turkey Egypt For more information about this report visit About is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends. Attachment Textile Enzymes Market CONTACT: CONTACT: Laura Wood,Senior Press Manager press@ For E.S.T Office Hours Call 1-917-300-0470 For U.S./ CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900Sign in to access your portfolio
Irish Times
16-06-2025
- Business
- Irish Times
Gucci keeps European shares in the black
European shares made cautious gains on Monday, with Gucci -owner Kering leading the pack following a leadership change. The news helped to break a five-day losing streak as investors pivot from the conflict in the Middle East. The pan-European STOXX 600 ended 0.4 per cent higher amid the developments. Dublin The Iseq All-Share index ended the session at 11,553.51, up 98.98 or 0.86 per cent on the previous close. READ MORE It was a mixed day for the banks, Bank of Ireland rose 1.25 per cent to €12.115, and AIB Group increased its share price to €7.01, up 1.08 per cent. Despite these rises, Permanent TSB Group was a sectoral drag, falling 1.05 per cent to €1.88. Ryanair rose 1.85 per cent to €23.71, while fellow travel stock Irish Continental Group fell the furthest, down 1.50 per cent to €5.26. It was a good day for insulation and building materials specialist, Kingspan Group, who saw strong gains – rising 1.77 per cent to a share price of €77.45. Glanbia Plc fared well in trading on the day, ending up 1.04 per cent to €12.62, whereas Kerry Group fell €1.39 to €95.70. London London's benchmark FTSE 100 rose on Monday, coming within spitting distance of a record high, after global risk appetite was boosted by reports Iran was seeking a truce with Israel. The blue-chip FTSE 100 closed up 0.3 per centat 8,875.22 points, and came within a couple of points of its intraday record high of 8,908.74 points on March 3. The midcap FTSE 250 gained 0.5 per cent. Ladbrokes owner Entain jumped 15.3 per cent, the stock's biggest percentage gain since September 2021, after its US sports-betting joint venture, BetMGM, raised its annual revenue and core earnings forecast. The travel and leisure subindex surged 3.3 per cent. In London, Metro Bank Holdings hit a more than two-year high and led gains on the midcap index after a report of takeover approach from private equity firm Pollen Street Capital. Shares of the British lender were up 18.4 per cent The precious metal miners' subindex fell the most among sectors, down 3 per cent tracking lower gold prices. Europe European shares climbed on Monday, recouping some of last week's losses as Kering soared after the luxury group announced a chief executive (CEO) change and investors shifted their focus from the conflict in the Middle East that drove a sell-off last week. On a sectoral basis, Heavyweight banks were the biggest boost, advancing 1.9 per cent Gucci parent Kering jumped 11.8 per cent, among the top percentage gainers on the STOXX after the luxury conglomerate said it was hiring Renault boss Luca de Meoas to be its new CEO, confirming reports from earlier in the day. Shares of the French automaker closed 8.7 per cent lower. A separate report said Tokyo's Nissan planned to reduce its stake in Renault. On the downside, healthcare stocks lagged as Danish drugmaker Novo Nordisk fell 3.5 per cent. New York US stock indexes had risen in midafternoon trading on Monday as oil prices fell after the Israel-Iran attacks left crude production and exports unaffected, allaying investor concerns in advance of a central bank policy meeting. Crude prices retreated more than 3 per cent on reports that Iran is seeking an end to hostilities with Israel, raising the possibility of a truce and easing fears of a disruption to crude supplies from the region. Oil prices surged more than 7 per cent on Friday after Israel began bombing Iran. Most megacap and growth stocks rose. Meta advanced after announcing on plans to roll out new WhatsApp updates over the next few months and Nvidia was also up. UPS and FedEx edged up after the Trump Organisation launched a self-branded mobile network, dubbed Trump Mobile, and named the companies as shipping partners. Shares of Sarepta Therapeutics plunged nearly half after the company disclosed a second case of a patient dying due to acute liver failure after receiving its gene therapy for a rare form of muscular dystrophy. US Steel rose significantly after Trump approved Nippon Steel's $14.9 billion (€12.8 billion) bid for the company. Cisco gained after Deutsche Bank upgraded the communications equipment maker to 'buy' from 'hold'.– Additional reporting, Reuters, PA.
Irish Times
10-06-2025
- Business
- Irish Times
Global markets steady as trade talks between US and China continue
Global stocks held steady on Tuesday as trade talks between the United States and China continued into a second day, giving investors some reason to believe tensions between the world's two largest economies may be easing. Dublin Euronext Dublin outperformed its international as it finished the day up 0.6 per cent, boosted by homebuilders. One of the best performers was Kingspan, which was up 2.4 per cent at close of business on what was described by a trader as a 'strong day' for the Cavan-based insulation specialist. Homebuilders Glenveagh Properties and Cairn Homes finished up 1.9 per cent and 0.5 per cent respectively after the sector was boosted by a positive trading update from UK-based peer Bellway. READ MORE Other highlights included food giant Kerry Group, which finished up 1.8 per cent, and healthcare group Uniphar, which climbed 2.7 per cent. There was some weakness among the financial names, with Bank of Ireland and AIB down 1.7 per cent and 1.2 per cent respectively. Elsehwere, hotels group Dalata finished up 1.2 per cent. 'There was an Irish Times article in the morning talking about how the company turned down a bid last week from the Pandox consortium, and the stock did feel reasonably strong throughout the day,' a trader said. Meanwhile, budget airline Ryanair held on to its recent gains, up 1 per cent on the day, outperforming most of its peers. London The blue-chip FTSE 100 closed 0.2 per cent higher to move within touching distance of its all-time high. The home construction and household goods sector led the gains, up 5.4 per cent. It was driven by a 7.9 per cent rise in Bellway after the homebuilder raised its forecast for the numbers of homes it expects to build this year. Rivals Vistry and Persimmon were up 9.4 per cent and 6 per cent, respectively. Energy shares climbed 3.5 per cent, tracking higher oil prices. Precious metal miners, however, posted heavy declines, down 4.8 per cent. Hochschild Mining plunged almost 23 per cent after issuing a six-week shutdown at its Mara Rosa mine, following lower-than-expected gold output by the end of May. Mid-caps in London were up 0.5 per cent, largely boosted by a 6.3 per cent rise in Aberdeen after JP Morgan upgraded the fund manager's stock to 'overweight' from 'neutral'. Europe On the continent, the Stoxx 600 was little changed, constrained by UBS, whose shares dropped nearly 5 per cent as investors worried about the impact of new government proposals to force the Swiss bank to hold $26 billion (€22.8 billion) in extra capital. Elsewhere, the Dax in Germany finished the day down 0.8 per cent, while the Cac in Paris finished up 0.2 per cent. Euro zone government bond yields fell but hovered not far from the previous day's levels. Germany's 10-year yield, the benchmark for the euro zone, was down 4 basis points at 2.53 per cent. New York Wall Street's main indexes were subdued in volatile trading as investors awaited a breakthrough in the ongoing US-China trade talks aimed at defusing a tariff dispute that has rocked global markets this year. At midday, the Dow Jones Industrial Average rose 0.02 per cent; the S&P 500 gained 0.1 per cent; and the Nasdaq Composite 0.04 per cent. Seven of the 11 major S&P 500 subsectors rose, led by a 1.9 per cent gain in energy, tracking strength in oil prices. Communication services stocks added 0.8 per cent. Most megacap and growth stocks were mixed. Tesla shares advanced 3.6 per cent. Insmed shares jumped 27 per cent after the drugmaker said its experimental drug significantly reduced blood pressure in the lungs and improved exercise capacity in patients in a mid-stage study. Jif peanut butter maker JM Smucker's shares were set for their worst day on record after it forecast annual profit below estimates. The company's shares were last down 12.3 per cent. – Additional reporting: Agencies
