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<ul><li>Olectra Greentech is the largest <keyword id="12313326" type="General" weightage="20" keywordseo="electric-bus-maker" source="Orion">electric bus maker</keyword> in India. </li><li>It is a Hyderabad-based company and had recently announced setting up a massive 150-acre manufacturing facility to fulfill its growing order book. </li><li>Over the next year, the company says it plans to start manufacturing electric trucks, in addition to three-wheelers and buses. </li></ul>Hyderabad-based Olectra Greentech has quietly made its shareholders rich over the past year. An investment of ₹10,000 in the company exactly 12 months ago is now worth ₹67,000, which is a handsome return regardless of any other factor. Shares of Olectra Greentech were marginally up today (January 4) as of 12:30 p.m. <div type="image" title="Olectra Greentech 01_01_21 to 04_01_22." msid="88685123" hostid="261" caption="&amp;lt;p&amp;gt;Olectra Greentech share price over the past 12 months&amp;lt;/p&amp;gt;"></div> <cmsannotation type="cmsannotation" annotationid="What does Olectra Greentech do?" comment="subhead" text="What does Olectra Greentech do?">What does Olectra Greentech do?</cmsannotation> Olectra Greentech is the largest manufacturer of electric buses in India, with a market share of around 40%. It has been making electric buses in partnership with BYD, China’s largest electric vehicle maker. In December 2020, the company <a href="https://economictimes.indiatimes.com/industry/renewables/olectra-greentech-to-set-up-indias-biggest-electric-bus-factory-with-10000-units-capacity/articleshow/88211313.cms">announced</a> that it is setting up a massive electric vehicle manufacturing plant on the outskirts of Hyderabad, with an initial outlay of ₹600 crore and a capacity of 10,000 units. The plant will be set up on a sprawling 150-acre land. At the time of the announcement, Olectra also revealed that it is currently in the process of fulfilling orders for 2,000 electric buses, which is worth ₹3,000-3,500 crore. <cmsannotation type="cmsannotation" annotationid="Why is Olectra Greentech’s share price surging?" comment="subhead" text="Why is Olectra Greentech’s share price surging?">Why is Olectra Greentech’s share price surging?</cmsannotation> <keyword id="6354973" type="General" weightage="20" keywordseo="electric-vehicles" source="Orion">Electric vehicles</keyword> are the buzzword today, and there’s more than one reason for this. For the government, it’s about reducing the reliance on crude oil imports and pollution, and for the common man, it’s about reducing the impact of perennially rising petrol and diesel prices. As an investor, this presents a great opportunity to bet on stocks and companies which are into innovative battery technologies, or supply components for electric vehicles. We have seen a few companies like Sona Comstar make a blockbuster debut on the stock exchanges, making the most of the IPO boom and the growing interest in electric vehicles. But more than the idea of electric vehicles, Olectra Greentech’s strong fundamentals have played a big role in the company’s shares delivering multifold returns in the past year. Here’s how the company’s financials look like over the past five years: <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2016-17 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2017-18 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2018-19 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2019-20 </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 1pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹104 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹161 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹170 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹200 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 1pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹281 crore </td></tr><tr><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">-₹15 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹13 crore </td><td style="border-left:solid #000000 0.5pt;border-right:solid #000000 0.5pt;border-bottom:solid #000000 0.5pt;border-top:solid #000000 0.5pt;vertical-align:bottom;padding:0pt 5.75pt 0pt 5.75pt;overflow:hidden;overflow-wrap:break-word;">₹8 crore </td></tr></tbody></table> Source: Company reports <cmsannotation type="cmsannotation" annotationid="What does the future hold for Olectra Greentech?" comment="subhead" text="What does the future hold for Olectra Greentech?">What does the future hold for Olectra Greentech?</cmsannotation> At the moment, Olectra’s chairman KV Pradeep says that the company has submitted bids for tenders for 6,000 more buses. Just yesterday, the company announced that it has won a bid for supplying 50 electric buses to a government transport authority. But the company is also looking beyond just electric buses – it has teamed up with a truck maker to develop electric trucks, with plans to start manufacturing them in 2022-23. Pradeep also mentions that the company is not reliant on BYD for technology anymore, thanks to an in-house research and development department. The new 150-acre manufacturing facility will be used for manufacturing electric buses, trucks and three-wheelers, the company said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/infoedge-and-zomatos-deepinder-goyal-invested-money-in-geniemode-10-month-old-tech-startup/articleshow/88683920.cms">After Deepinder Goyal and Kunal Shah, Info Edge backs this 10-month-old tech startup</a> <a href="https://www.businessinsider.in/business/corporates/news/saffola-parachute-oil-maker-marico-sees-poor-demand-from-customers-amid-high-inflation/articleshow/88682276.cms">Marico is paying the price for rising inflation because its buyers aren’t able to</a> <a href="https://www.businessinsider.in/tech/news/this-smart-collar-lets-you-track-your-dogs-health-and-location/articleshow/88681461.cms">This smart collar lets you track your dog’s health and location</a>

Shares of this electric bus maker have surged 540% in the last 12 months

<ul><li><a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> climbed as much as 4.7% on Tuesday following a <a href="https://www.reuters.com/article/us-apple-autos-exclusive/exclusive-apple-targets-car-production-by-2024-and-eyes-next-level-battery-technology-sources-idUSKBN28V2PY">Reuters report</a> on Monday afternoon that said the tech giant aimed to produce <keyword id="6358835" type="UNKNOWN" weightage="60" keywordseo="Electric-cars">electric cars</keyword> by 2024.</li><li>The company wants to compete in the electric-vehicle market with battery innovations to improve vehicle safety, packaging, and range, according to the report.</li><li>The news, published less than an hour before <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> closed, lifted <keyword id="6354427" type="ORGANIZATION" weightage="60" keywordseo="apple">Apple</keyword> to a 1.2% gain on Monday.</li><li>Apple's market cap grew by more than $102 billion at intraday highs.</li><li><a href="https://markets.businessinsider.com/stocks/aapl-stock">Watch Apple trade live here</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/aapl-stock">Apple</a> gained 4.7% on Tuesday following a <a href="https://www.reuters.com/article/us-apple-autos-exclusive/exclusive-apple-targets-car-production-by-2024-and-eyes-next-level-battery-technology-sources-idUSKBN28V2PY">Reuters report</a> on Monday that said the iPhone maker planned to produce electric cars by 2024.The tech giant aims to compete in the rapidly expanding electric-car market with new battery technologies to improve vehicles' safety and range, according to the report. That could "radically" cut down on battery costs, a source familiar with the plans told Reuters.Apple's market value grew by more than $102 billion at intraday highs.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-for-2021-zevenbergen-brooke-de-boutray-2020-12" target="_blank" rel="noopener">Brooke de Boutray beaten 99% of her peers over the last 5 years and runs a fund that is up 148% in 2020. She shared with us 4 stocks she's most bullish on heading into 2021.</a>The report, published less than an hour before markets closed, lifted Apple shares to a 1.2% gain on Monday. <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a>, which would likely serve as Apple's greatest competitor in the automotive sector, extended losses and <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-price-reaction-sp500-index-inclusion-5th-largest-tsla-2020-12-1029910902">closed 6.5% lower</a>.Sources told Reuters that Apple planned to partner with other companies for some vehicle systems. Suppliers of lidar sensors rallied in early trading. Apple developed its own lidar sensors for the iPhone 12 Pro and iPad Pro models.The report <a href="https://techcrunch.com/2020/12/21/the-apple-car-chatter-is-back-with-new-reports-pointing-to-a-2024-launch-date/?guccounter=1&amp;guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&amp;guce_referrer_sig=AQAAAHIu71K35LnPvigA3zDhgM6CGHHbDh4y8tHOW_EENVqFG0QP5hqYExRTJiUJDe-tQQ-asnEhRMUkACvCg-PAz3kFqqocDBqZNyPm_HHGUBubgeyMluf3-6me1sZK_7gmpEjTKw_bWWm1gZzrFjF9wvyB6tavvpzFVYYwEfEAu10_EfEAu10_">revived discussions</a> of Apple's Project Titan automotive plan after <a href="https://www.cnbc.com/2019/01/24/apple-lays-off-over-200-from-project-titan-autonomous-vehicle-group.html">layoffs</a> and a leadership shakeup spurred rumors that the project had died.The company plans to incorporate a "monocell" design to concentrate battery cells and create more space in battery packs by doing away with various storage pockets, Reuters reported. The layout would allow for denser battery units and a longer range than layouts with more loosely packed cells.Apple is also experimenting with lithium-iron-phosphate battery chemistry, which could be less likely to overheat than lithium-ion batteries, Reuters reported.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-cheap-medtech-healthcare-2021-bofa-2020-12" target="_blank" rel="noopener">BANK OF AMERICA: Buy these 16 medtech stocks with strong fundamentals that are set to soar post-pandemic</a>But even Apple's expertise in handling massive supply chains would likely be tested by vehicle production. <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> spent nearly two decades building cars before turning a steady profit. Apple would need to collaborate with a slew of partners and venture into manufacturing processes not used for its existing hardware."If there is one company on the planet that has the resources to do that, it's probably Apple. But at the same time, it's not a cellphone," a person who worked on Project Titan told Reuters.Apple closed at $128.23 on Monday, up 76% year-to-date. The company has 75 "buy" ratings, 18 "hold" ratings, and three "sell" ratings from analysts.Now read more markets coverage from Markets Insider and Business Insider:<a href="https://markets.businessinsider.com/news/stocks/softbank-spac-raise-525-million-blank-check-company-svp-investment-2020-12-1029912217">SoftBank aims to raise up to $525 million for its own blank-check company</a><a href="https://www.businessinsider.com/stimulus-checks-direct-deposits-arrive-next-week-treasury-secretary-mnuchin-2020-12">Treasury Secretary Mnuchin expects direct stimulus checks to be released next week, says he 'couldn't be more pleased' about deal</a><a href="https://www.businessinsider.com/investing-strategy-world-changing-thematic-trends-lazard-money-manager-stocks-2020-12">A Lazard fund manager overseeing $2 billion lays out the 6 world-changing trends shaping his latest fund - and explains how he plans to capitalize on each</a><a href="https://markets.businessinsider.com/stocks/aapl-stock"><div type="image" title="AAPL" height="1180" width="1418" msid="79872236" hostid="261"></div></a>

Apple's market value grows by $102 billion after report says the company aims to produce electric cars by 2024

<ul><li>46% of families will shop clothes over big ticket items on account of Dusshera/Diwali.</li><li>76% of the families will use their personal savings for making purchases this festive season.</li></ul><keyword id="5043207" type="General" weightage="20" keywordseo="axis-my-india" source="Orion">Axis My India</keyword>, a consumer data intelligence company, released its findings of the India <keyword id="991354" type="General" weightage="20" keywordseo="consumer-sentiment-index" source="Orion">Consumer Sentiment Index</keyword> (CSI), a monthly analysis of consumer perception on a wide range of issues, for the month of September. The net CSI score, calculated by percentage increase minus percentage decrease in sentiment, was recorded at +7, rising at a constant pace over the last three months, indicative of a positive shift in consumer consumption metrics. The sentiment analysis delves into 5 relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits &amp; mobility trends. This month, Axis My India’s <keyword id="412367" type="General" weightage="20" keywordseo="consumer-sentiment" source="Orion">Consumer Sentiment</keyword> Index also delved deeper to understand perception around festival spends, pre and post Covid behavioural changes in terms of online purchase and UPI/wallet payment and citizen’s interest in IPL. The surveys were carried out via Computer Aided Telephonic Interviews with a sample size of 10639 people. 59% belonged from Rural India while 41% belonged from urban counterparts covering 28 states and 8 union territories. Commenting on the September report, <keyword id="182602" type="General" weightage="20" keywordseo="pradeep-gupta" source="Orion">Pradeep Gupta</keyword>, CMD, Axis My India, said, “As the pandemic retreats, we are seeing a steady return to normalcy, but with a cautious control over spending considerations. This is highlighted in the survey as 46% of the respondents will prefer spending on small ticket items such as clothes, while only 11% of the respondents will consider buying a two-wheeler or car. Expenditure on household essentials is more or less same since the last two months. However, expenditure on healthcare decreased compared to last month, suggesting people are being decreasingly affected by the pandemic. While 27% respondents reported an increase in UPI transactions, almost 49% still don’t use UPI/Wallets, suggesting a tremendous opportunity in digital payments. IPL has proved its unparalleled reach and what is emerging as a trend is that audiences are increasingly viewing it on digital especially in tier 3/rural markets which still have electricity cuts &amp; are single TV households." Key findings: ·Overall household spending has increased for 56% of families which is same as last month. ·The spends increase on essentials like personal &amp; household care is at 45%. The net score is almost the same as last month which is at +20. ·Spends on non-essential &amp; discretionary products like AC, Car, Refrigerator increased for 19% of families. This increase is highest in North &amp; East whereas the increase in South is only 8%. This increase still reflects an overall decrease by 2 percentage points from the previous month which stood at 21%. This can also be because 20th Sep – 6th Oct is considered the ‘Shradh period’ when high value purchases are postponed. The non-essentials September net score is at +7. ·Health continues to be an important consideration, with consumption on health-related items being increased for 44% of families and decreased only for 19% families. The health score which has a negative connotation i.e. the lesser the spends on health items the better the sentiments, has a net score value of -25. ·Consumption of media reflects increase for 26% families, with an increase of 1 percentage point over last month &amp; consumption remained same for 48%. Net score has improved from -3 last month to the base value of 0 this month. ·Constant improvement in mobility net score is being recorded since past three months which indicates a steady return to normalcy. In terms of mobility 88% families are saying they are going out the same or more on short vacations/mall/restaurants, with the overall mobility score is at -5 which is an improvement over last month which was at -8. This reflects a slight progress in people’s sentiments in terms of conducting outside activities. On topics of current national interest: ·When asked on shopping plans for Dusshera/Diwali, 46% of families said they will shop clothes while only 11% intend to buy a 4-wheeler or a 2-wheeler. More than 88% of the families denied any interest in buying white goods (AC, TV, Washing Machine, and Refrigerator) or jewellery this festive season. In addition, 92% showcased negative sentiment towards buying home, plot, or a commercial property. The consumer sentiment for the month also reflects that 76% of the families will use their personal savings for making these purchases while only 21% would prefer taking loan from the bank or financial companies. This gives an indication that while buying spirit is moderate this festive season, the ticket size for purchase still remains small reflecting a cautious spending behaviour without denting one’s personal savings. ·In terms of online shopping behaviours 33% are buying electronics like laptop, mobile etc. online while high value items like jewellery and groceries (fresh food, rice, oil and meat) are still bought physically, indicating the view of 90% and 92% of the consumers respectively. Furthermore, banking and investment behaviour reflect a combination of both offline and online hybrid behaviour standing at 19%. ·40% of Indian’s mentioned that they have watched IPL at least once. When asked, where will you continue to watch the remaining season of IPL, 31% of those who watching mentioned that they are watching it online. Interestingly percentage of audience watching online is higher in Rural India. ·Reflecting a transformation in consumer payment behaviour in the post-covid period, 27% have said that they have increased their usage of UPI/wallet payments (Paytm/Phonepe, Google Pay) while 49% still don’t use these online transaction mediums. Interestingly the increase in usage of UPI payments is gradually decreased with increase in age of respondents. The increase is highest for the age group of 18-25 years which is at 36%.

40% of India has watched IPL at least once, 31% of those watched have viewed it on a digital platform: Report

Overall consumer sentiment up by 5.5 points compared to July, signaling a cautious but steady improvement due to festive season: Report

Maruti is in an image revamp mode. India’s largest car maker in terms of volumes have been a trusted name when it came to sub 5 lakh cars in Indian roads. People willing to buy premium cars were earlier shying away from Maruti and were more invited by Honda, Hyundai and Toyota, thanks to their premium offering. 
 
But things are changing for better for this Indian automaker. 
 
The elites with shining wallet willing to pay for a premium car from Maruti would no more need to wait for their turns at showrooms jostling with Alto buyers as Maruti Suzuki is launching high end showrooms to market cars with a price tag above Rs 8 lakh. 
 
The NEXA-branded showrooms, which will start operating from Phoenix Mills in Mumbai, Brigade Road of Bengaluru and Hyderabad's Jubilee Hills would not sell Alto , WagonR and would only concentrate on premium cars. 
 
In a news report by The Economic Times, the upcoming premium crossover, S Cross, will be the first model to be sold through the NEXA outlets - the vehicle's launch is expected within a month. The company has already formed a new organizational structure in place led by Partho Banerjee and his team. The company will have over 100 new outlets under NEXA brand by the end of this fiscal year, a feat which has taken more than 3-4 years for its MNC rivals. 
 
The vehicles sold through NEXA outlets will carry a Suzuki logo, but won’t carry a Maruti Suzuki nameplate. 
 
It hired more than 700 sales staff with experience in the hospitality and aviation sectors - people who are trained in the nuances of dealing with wealthy customers. They have their soft skills honed further by global experts like Dale Carnegie. The designing for the showrooms is done by Hakuhodo, the Japanese agency that has worked on Nissan's Infiniti showrooms in the US, the ET report confirms. 
 
In May, ET had reported about Maruti's plans to have a separate NEXA channel to sell premium vehicles. 
 
R S Kalsi, executive director, sales and marketing at Maruti Suzuki told ET, with an eye on achieving 2 million sales by end of 2020, the company is embarking on a new phase with NEXA. Kalsi says, in the first phase (1983 to 1993) of Maruti's presence, the company offered new products to the starved Indian buyers, between 1993 to 2003, focus moved towards offering complete solution of finance, insurance, accessories, buy back along with the car, with NEXA Maruti wants to take the buying experience to the whole new level 
 
"The new channel is aimed at offering a very personalised experience of today's evolved buyers and we think S Cross is an ideal product to offer NEXA experience," added Kalsi. 
 
At launch, Maruti will have 30 NEXA outlets ready, thus covering over 65 per cent of premium end of the market. 
 
Maruti intends to offer pick and drop facility from the customer's doorstep for a NEXA visit, something common in the luxury-car market. While the company is beginning with the S Cross, it may eventually add the Ciaz sedan and premium hatchback YRA to the sales channel. 
 
Pradeep Saxena, ED at market research firm TNS Automotive told the financial daily, a separate channel will help Maruti Suzuki as the prospective buyers will be different and they will require a different kind of experience. He thinks the concept can work, people expect more attention and they will get more attention. 
"We all know Maruti because of its distribution strength, through premium channel, you are forcing people to come to a specific shop. So there could be trade off between offering better treatment and in-convenience of traveling longer. So Maruti Suzuki will have to deal with it," said Saxena, while talking to the financial daily. 
 
(Image : Reuters)

Maruti Suzuki adds snob value to its India Biz

<ul class="summary-list"><li>An undisclosed buyer picked up the Alfa Nero for $40 million last week.</li><li>The yacht was originally seized from a Russian oligarch in 2022.</li></ul>An undisclosed buyer has finally stepped up to the helm of the Alfa Nero superyacht, ending a two-year-long saga, <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-07-22/secret-buyer-pays-40-million-for-ditched-alfa-nero-superyacht?cmpid=BBD072324_BIZ&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=240723&amp;utm_campaign=bloombergdaily">Bloomberg</a> reported on Tuesday.That buyer agreed last week to pay $40 million, a huge discount to the $67.6 million that former Google CEO Eric Schmidt bid last year, a deal he eventually abandoned.The Antigua and Barbuda government sold the superyacht, which houses an infinity pool that converts to a helipad or dancefloor.The massively discounted price can be attributed to authorities' need "to get the boat sold," Richard Higgins, a broker who represented the buyer, told Bloomberg.Higgins said the European buyer, whose identify was kept secret, intends to put the superyacht on the charter market.The person "is not included in the sanctions list of any country or institution," Ronald Sanders, Antigua and Barbuda's ambassador to the US, told Bloomberg.The 267-foot-vessel was <a target="_blank" href="https://www.businessinsider.com/seized-russian-yacht-costs-taxpayers-28000-to-maintain-2023-9">seized by </a>Antigua and Barbuda authorities after it was linked to Russian oligarch Andrey Guryev, who was accused by the US Treasury Department of having close ties to Russian President Vladimir Putin. Guryev is the founder of Phosagro, Europe's largest producer of phosphate fertilizers, according to the <a target="_blank" href="https://www.bloomberg.com/billionaires/profiles/andrey-g-guryev/">Bloomberg Billionaires Index</a>.The Alfa Nero was among <a target="_blank" href="https://www.businessinsider.com/what-happens-to-russian-oligarch-sanctioned-yachts-without-maintenance-crews-2022-3">dozens of superyachts</a> seized following global sanctions against Putin's closest associates, which led to billions of dollars in frozen assets.The Alfa Nero's maiden owner was Guryev, who purchased the vessel for $120 million, according to the US Treasury and the <a target="_blank" href="http://gazette.laws.gov.ag/wp-content/uploads/2023/03/No.-19-Extraordinary-21st-March-2023-Editors-Final-Draft.pdf?x91096">Antigua and Barbuda government</a>. The Russian billionaire had adamantly <a target="_blank" href="https://www.businessinsider.com/sanctioned-russia-oligarch-superyacht-antigua-turning-ais-tracking-off-guryev-2022-5">denied ownership.</a>After the vessel was seized in 2022, it remained docked in Antigua's Falmouth Harbour, which cost residents of the Caribbean nation $28,000 in weekly tax dollars for maintenance, which took as many as <a target="_blank" href="https://www.businessinsider.com/sanctioned-yacht-crew-play-call-of-duty-swim-infinity-pool-2023-5">44 crew members</a>. The superyacht was then valued at <a target="_blank" href="https://www.businessinsider.com/alfa-nero-superyacht-auction-oceanco-andrey-guryev-russian-billionaire-oligarch-2023-3">$81 million.</a>In 2023, the Antigua and Barbuda government put the Alfa Nero up for auction, citing hazards due to a lack of maintenance.Eric Schmidt initially won the bidding, for <a target="_blank" href="https://www.businessinsider.com/eric-schmidt-google-paid-67-million-for-oligarchs-abandoned-superyacht-2023-6">$67.6 million</a>, but eventually backed out after Guryev's daughter <a target="_blank" href="https://www.businessinsider.com/eric-schmidt-superyacht-russia-andrey-guryev-daughter-sanction-alfa-nero-2023-7">claimed ownership</a> of the superyacht.The most recent acquisition of the Alfa Nero finally ends its ownership limbo, during which it racked up millions of dollars in port fees under the custody of the Antigua and Barbuda authorities, Darwin Telemaque, the Alfa Nero's port manager, told Bloomberg.Last year, the Wall Street Journal <a target="_blank" class="" href="https://www.wsj.com/world/europe/taxpayers-stuck-paying-the-bills-for-oligarchs-seized-yachts-and-mansions-afd442e4">reported</a> that Antigua and Barbuda taxpayers were footing a $28,000-a-week bill to maintain the Alfa Nero, including the salary of an Italian captain and $2,000-a-day in diesel to keep its air conditioning running. That's because if the AC is turned off, it could let mold spread throughout the vessel and ruin the hardwood interior or a Joan Miró painting onboard, per the WSJ.

The long tale of the yacht linked to a Russian oligarch and abandoned in the Caribbean for more than 2 years finally draws to a close

<ul class="summary-list"><li>China's economy is struggling, with a 30-year low GDP, low birth rates, and rising unemployment.</li><li>Even so, sectors such as green industries and travel are thriving.</li></ul>China's economy looks very bad right now.The country's <a target="_blank" href="https://www.reuters.com/world/china/chinas-q4-gdp-grows-52-yy-below-market-forecast-2024-01-17/">GDP growth</a> has hit 30-year lows, its <a target="_blank" href="https://www.businessinsider.com/chinas-birth-rate-problem-wont-go-away-with-financial-incentives-2024-1">birth rate</a> continues to plummet, and <a target="_blank" href="https://www.scmp.com/economy/economic-indicators/article/3248696/china-jobs-youth-unemployment-rate-returns-adjusted-stands-149">youth unemployment</a> is at concerning levels. Meanwhile, its <a target="_blank" href="https://markets.businessinsider.com/news/stocks/china-stock-market-meltdown-brutal-year-explainer-whats-happening-2024-1">financial markets</a> are bleeding, the <a target="_blank" href="https://www.businessinsider.com/china-evergrande-property-real-estate-crisis-debts-collapse-what-happens-2024-2">property market</a> has gone up in smoke, <a target="_blank" href="https://markets.businessinsider.com/news/bonds/china-10t-hidden-debt-crisis-time-bomb-biden-warned-of-2023-8">local government debt</a> appears alarming, and <a target="_blank" href="https://markets.businessinsider.com/news/stocks/china-economy-chinese-stock-market-foreign-investor-cash-flow-money-2023-12">foreign investors</a> are exiting in droves.Despite these challenges, the world's second-largest economy isn't imploding entirely — some sectors continue to thrive."There's decent spending on tourism catering and other services, but caution around bigger purchases, especially real estate," Rory Green, the chief China economist at GlobalData TS Lombard, told Business Insider."Consistent bad news from the property sector has overshadowed more resilient parts of the economy," analysts at the asset-management firm <a target="_blank" href="https://www.alliancebernstein.com/corporate/en/insights/investment-insights/chinas-struggling-economy-masks-a-promising-investing-landscape.html">AllianceBernstein</a> wrote in January.But they added that "since the economy has expanded at nearly 5% despite the housing sector's woes, other industries are obviously growing at a much faster clip.""What we're seeing in the Chinese economy really is that it's a two-speed economy," John Lin, the chief investment officer of China Equities at AllianceBernstein, told <a target="_blank" href="https://www.bloomberg.com/news/videos/2024-01-17/alliancebernstein-s-lin-on-china-equities-video">Bloomberg TV</a> in January.Real estate — which was a huge part of China's economy — had been hit badly, he said.But Lin added that "outside of property, whether it's in parts of the consumption sector or particularly in industrial manufacturing, some companies actually are doing quite well."<h2>Green and niche industries are thriving</h2>Even before COVID-19 hit, Beijing knew China's economy needed to transition from its position solely as the world's cheap factory floor — because companies were already <a target="_blank" href="https://asia.nikkei.com/Spotlight/Most-read-in-2019/China-scrambles-to-stem-manufacturing-exodus-as-50-companies-leave">starting to leave</a>.The <a target="_blank" href="https://www.businessinsider.com/china-trade-war-covid-companies-moving-supply-chains-2022-12">reasons for the exits</a> are manifold, including former US President Donald Trump's trade war, rising wages, and an increasing desire by companies to diversify their supply chains.To move up the value chain, Beijing is now targeting higher-value manufacturing. Industries focusing on sustainability are the <a target="_blank" href="https://www.businessinsider.com/china-economy-new-growth-areas-electric-vehicles-batteries-solar-property-2024-1">key focus areas</a> for Beijing.In particular, China is championing what it calls the <a target="_blank" rel=" nofollow" href="https://www.gov.cn/yaowen/liebiao/202308/content_6897581.htm">"new three" industries</a> of electric vehicles, lithium-ion batteries, and solar cells to drive its economy.Louise Loo, the lead economist at Oxford Economics, wrote in a note earlier this month that these new growth industries were set to replace the "old three" pillars of furniture, garments, and home appliances in China's economy.They're already doing well.Thanks to government subsidies, China is already the <a target="_blank" href="https://www.weforum.org/agenda/2023/05/electric-vehicles-ev-sales-growth-2022/">world's largest market</a> and <a target="_blank" rel=" nofollow" href="https://www.weforum.org/agenda/2023/05/electric-vehicles-ev-sales-growth-2022/">producer</a><a target="_blank" href="https://www.bloomberg.com/news/articles/2023-11-01/how-china-carmakers-came-to-dominate-the-ev-industry-quicktake"> of electric vehicles.</a> China-made EVs are now being exported to Europe and beyond. They're also poised to <a target="_blank" href="https://www.businessinsider.com/cheap-chinese-electric-cars-will-upend-the-us-vehicle-market-2023-5">enter the US market</a>, as BI reported in May.China is also a lead producer of the lithium, iron, and phosphate batteries that power many electric cars. This has enabled China's top two battery firms — <a target="_blank" rel=" nofollow" href="https://www.bloomberg.com/news/articles/2023-10-11/china-s-catl-byd-dominate-ev-battery-market-as-demand-grows">BYD and CATL</a> — to control about half the global market.As for solar panels, China's push in its <a target="_blank" rel=" nofollow" href="https://www.reuters.com/sustainability/climate-energy/chinas-progress-renewables-meet-climate-goals-undermined-by-coal-expansion-2023-11-27/">energy-transition plans</a> has spurred intense investment. <a target="_blank" rel=" nofollow" href="https://www.woodmac.com/press-releases/china-dominance-on-global-solar-supply-chain/">Wood Mackenzie</a>, a commodity research and consultancy firm, said it expected China to dominate 80% of global solar manufacturing capacity until 2026.AllianceBerstein's Lin said other niche industries were also performing, citing bus and forklift exports in the heavy-manufacturing sectors as examples.In December, China witnessed a 17% surge in <a target="_blank" href="https://www.reuters.com/world/china/chinas-industrial-profits-fell-23-2023-2024-01-27/">industrial profits</a> from a year ago. Notably, profits in the railway, shipping, and aerospace industries jumped 20%, according to official data.<h2>Travel has picked up after years of pandemic lockdowns</h2>Services are another pillar of China's economy that Beijing has been trying to build up.Economic uncertainty has hit consumer wallets. Even so, there has been a surge in travel, particularly within China, after years of on-off pandemic lockdowns.This year, Chinese travelers made 474 million <a target="_blank" href="https://www.reuters.com/markets/asia/chinas-travel-spending-during-lunar-new-year-holidays-beats-pre-covid-levels-2024-02-18/">domestic trips</a> over the weeklong Lunar New Year holiday in February while splashing out 633 billion Chinese yuan, or $88 billion, on travel expenses such as hotels, sightseeing, and food — <a target="_blank" href="https://www.bloomberg.com/news/articles/2024-02-18/china-s-new-year-travel-and-spending-top-pre-covid-levels">surpassing pre-pandemic levels</a>.While authorities didn't break down the data on a per-trip basis, Reuters' calculations showed that the average spending per trip fell nearly 10% this year from 2019.Still, Nomura economists said the spending this holiday season was encouraging."The question is whether this data is enough to stem the rout in stock markets and whether China will need to come out with stronger measures to support the market," the Nomura economists wrote in a note this month.<h2>China still needs time to drive new industries to replace real estate</h2>China's immediate economic outlook isn't great."We continue to see consumption decelerating in 2024 as income, confidence, and negative wealth effects weigh on households, while base effects and pent-up demand prove less supportive," said Green from GlobalData TS Lombard. He predicts retail sales will slip 4% to 5% this year from a year ago.This is in part because new growth industries aren't able to take the place of real estate — yet.Because the <a target="_blank" href="https://www.chinadaily.com.cn/a/202401/29/WS65b6ff1ba3105f21a507ec78.html">property market accounts for</a> one-quarter of China's GDP and more than two-thirds of household wealth, its overall drag on China's economy is much greater than whatever is doing well right now.For comparison, the "new three" sectors and their associated upstream sectors contributed 11% to China's GDP in 2023.So, "the positive impact from the rapid growth in the new industries is unlikely to make up the difference, at least over the next two years," Oxford Economics' Loo wrote in her report, comparing China's new growth engines with the property sector."We view this as really a transition — a transition from historical, leverage-dependent growth model to one that is more like the rest of the East Asian economies today," Lin said, citing <a target="_blank" href="https://www.econ.sinica.edu.tw/18/archives/46eaa3b1770e8762">Taiwan</a> and <a target="_blank" href="https://www.stlouisfed.org/on-the-economy/2018/march/how-south-korea-economy-develop-quickly">South Korea</a>, both of which had similar "painful" transitions of their own from lower to higher-end manufacturing economies.

China's economy looks like a mess &mdash; but some sectors are quietly doing well in its '2-speed economy'  

<ul class="summary-list"><li>Canada's First Nations are breaking ground on historic housing and community development projects.</li><li>The country's most significant developments are happening in Vancouver, its most expensive city. </li></ul>Much like in the US, Canada is experiencing a severe housing affordability crisis, and the country's indigenous communities, known as First Nations, have long suffered disproportionately from inadequate housing.But Canada's indigenous communities are fighting to address the issue. In Vancouver alone, several First Nations are leading a major push to build housing on indigenous-owned land, in some cases partnering with the federal government to build entirely new communities that will house tens of thousands of people, while generating wealth for generations of First Nations members to come.Ground has already been broken on <a target="_blank" href="https://senakw.com/">one of these projects</a>, 11 towers with 6,000 homes being built by the Squamish Nation on a 12-acre piece of land near downtown Vancouver, Canada's most expensive real-estate market. The Squamish people were <a target="_blank" href="https://www.cbc.ca/news/canada/british-columbia/little-known-history-of-squamish-nation-land-in-vancouver-1.5104584">forced off of this land</a> in the early 20th century and finally won back their ancestral territory about 20 years ago.Because the development, named Sen̓áḵw, is on Squamish Nation reserve land, it's not subject to the same governmental land-use regulations as land elsewhere in the city, allowing for a speedier approval and construction process. The first three towers are set to be completed in November 2025, and the rest of the development is scheduled to be done in about eight years.Mindy Wight, CEO of the Squamish development group building Sen̓áḵw, called it "the creation of a modern Squamish village" in an interview with Business Insider.Wight sees Sen̓áḵw and other indigenous developments as particularly innovative ways to solve the region's housing crisis."While the Nation benefits from generating wealth and prosperity for its members, it's actually solving some of those challenges that are facing Vancouver," Wight said.She noted that about 20% of the units will be designated as affordable housing, and 250 units will be reserved for Nation members.The new housing is much needed for Vancouverites, especially First Nation members. Canada's federal auditor general recently <a target="_blank" href="https://nationalpost.com/news/canada/auditor-general-slams-governments-failure-first-nations-housing?taid=65f9e43d90ad1e000175d3a5&amp;utm_campaign=trueanthem&amp;utm_medium=social&amp;utm_source=twitter">condemned</a> a "distressing and persistent pattern of failure" by federal programs designed to support First Nations housing and infrastructure, among other services. She said she was "completely discouraged" by the number of First Nations families forced to live in unsafe or inadequate housing.<div type="image" title="The site of the Sen̓áḵw development under construction in late February 2024 in Vancouver, Canada." height="727" width="971" msid="108820264" hostid="261" sizebytes="85718"></div>In a separate effort, three First Nations — the Musqueam, Squamish, and Tsleil-Waututh peoples — came together to create a partnership to develop six different pieces of land in Vancouver and the surrounding area. The value of the land alone, which has been acquired by the Nations over the last decade, now exceeds $4 billion, according to Brennan Cook, vice president of the MST Development Corporation, the real estate company representing the three First Nations."What they're doing here is groundbreaking, it really hasn't been done elsewhere," Cook said.In two major projects in Vancouver, the MST Development Corporation joined with the Canadian federal government to buy two large pieces of land in the city that will be developed into entirely new communities, with schools, libraries, daycares, public space, and thousands of units of housing.One 90-acre planned development, called Jericho Lands, will house up to 18,000 people — more than doubling the area's current population. The project is moving along — the Vancouver City Council <a target="_blank" href="https://www.cbc.ca/news/canada/british-columbia/jericho-lands-policy-statement-1.7094161">unanimously approved</a> its policy statement in January, greenlighting the creation of more finalized plans. The other development, Heather Street Lands, a 21-acre site in central Vancouver, will have about 2,600 homes.The Nations want the developments to be an investment that reaps returns over time, so it will offer 99-year leases to homeowners, rather than selling off any of its property."The idea is to create a legacy economic engine for the Nations to provide for their community members, whether that be the preservation and retention of culture, art, language, healthcare, any other kind of employment training procurement opportunities," Cook said.Elisa Campbell, a vice president at the Canada Lands Company, the arm of the federal government partnering with the three First Nations, called the Jericho and Heather Street Lands projects "transformational" and "globally exceptional.""These are not just properties, these are communities that are in the broader context of a city," Campbell told Business Insider. "These are city-building moments."But the pre-construction approval process has been slow because the land isn't First Nations reserve land, and is subject to all of the government's land-use regulations. Heather Lands has been underway for a decade already and the project still isn't done with the municipal approvals process. Jericho Lands is expected to take between 20 and 30 years to complete.The housing projects aren't the only major developments underway on indigenous land in Canada. Just off the coast of Vancouver, the Malahat First Nation is <a target="_blank" href="https://dailyhive.com/vancouver/malahat-first-nation-vancouver-island-battery-manufacturing-facility">building a 100,000-square-foot battery plant</a> in partnership with the company Energy Plug Technologies on the Nation's land. The factory will create in-demand lithium-iron-phosphate battery storage and create about 100 new jobs.<h2>NIMBY pushback</h2>Of course, the housing developments have <a target="_blank" href="https://www.cbc.ca/news/canada/british-columbia/kits-point-judicial-review-vancouver-squamish-nation-senakw-1.6608352">faced pushback</a> from some community members. Sen̓áḵw <a target="_blank" href="https://vancouversun.com/news/local-news/b-c-court-rejects-challenge-to-huge-squamish-nation-housing-project-in-vancouver">survived a legal challenge</a> last fall when a British Columbia Supreme Court judge rejected a claim that the local community wasn't sufficiently engaged in the planning process.Some of the development's critics have attempted to weaponize Native American philosophy against it. In one case, former Vancouver city councilor Gordon Price argued that the First Nations cannot call themselves "land defenders" when they're building concrete high rises. "There's a big gap between that and an indigenous way of building," Price, who is not a member of the First Nations, <a target="_blank" href="https://www.youtube.com/watch?v=-8mf-t2tqSw">told CBC Vancouver</a> last year.Supporters reject Price's argument, noting that building housing and sustainable communities are both in the best interests of the First Nations and the broader city. Bates College environmental studies professor Tyler Harper has called this tendency for non-indigenous Canadians and Americans to stereotype indigenous communities as conservationists "sentimental racism.""Indigenous people are reduced to vehicles for timeless, pre-historical knowledge – wish fulfillment for white progressives dreaming of a prelapsarian age before capital and industry," he <a target="_blank" href="https://twitter.com/Tyler_A_Harper/status/1759636229052625197">wrote</a> recently on X."Canadians aren't used to seeing Indigenous people occupy places that are socially, economically or geographically valuable, like Sen̓áḵw," indigenous writer Michelle Cyca <a target="_blank" href="https://macleans.ca/society/sen%cc%93a%e1%b8%b5w-vancouver/">wrote recently</a> in MacLean's. "It's remarkable because it's a restoration of our authority and presence in the heart of a Canadian city."<div type="image" title="A rendering of residential towers and a courtyard in the Sen̓áḵw development in Vancouver." height="817" width="544" msid="108820265" hostid="261" sizebytes="75930"></div><h2>Could this kind of development happen in the US?</h2>There are no housing or infrastructure developments on US tribal land that match the scale of the First Nations projects in Canada. While some Native American tribes have spearheaded significant <a target="_blank" href="https://tucson.com/news/local/business/pascua-yaqui-tribe-opens-first-master-planned-community-in-tucson/article_fd4f5ade-e83d-11ed-a4b2-e301f69dc840.html#:~:text=The%20Pascua%20Yaqui%20Tribe%20has%20finished%20its%20first%20master%20planned,The%20Homes%20at%20Yaqui%20Square">housing projects</a>, most indigenous-owned land in the US isn't in the most valuable housing markets. Other economic development efforts in the US have been largely focused on the gaming industry, including <a target="_blank" href="https://www.nber.org/digest/feb03/social-and-economic-impact-native-american-casinos">casinos</a>."The big picture problem is that the legacy of Indian removal is that it forced so many tribes onto marginal land that they are excluded from some of the highest value areas of the country," Alex Armlovich, a senior housing-policy analyst at the Niskanen Center, told Business Insider.Pro-housing and development advocates like Armlovich are "open-mouthed in awe of just what an incredible thing they're working on in Vancouver," Armlovich added.Pro-housing advocates say economic development projects on Indian land are possible if local and state governments take action to restore ancestral land in cities to tribes that are interested in development, or otherwise work with Native American tribes to invest in industrial development."At a time when NIMBYism and permitting hangups are threatening America's push for green industrial policy, a win-win alliance with Native American tribes could be exactly what this nation needs," economist Noah Smith, <a target="_blank" href="https://www.noahpinion.blog/p/at-least-five-interesting-things-8dd">wrote recently</a>. "Instead of demanding Native Americans be guardians of a pastoral past, we could enlist their aid in leading us into a green technological future."Housing developments are particularly attractive at a time when so many parts of the country are facing a shortage of homes and, as a result, skyrocketing housing costs."If a city wanted to get serious about land acknowledgments, and facilitate development, and house a tribe on its historic lands, that would be pretty incredible to do it in a way that's positive for everybody," Armlovich said.

Canada's First Nations are building the densest neighborhood in the country by reclaiming their ancestral land and defying NIMBYs

<ul class="summary-list"><li>Imitation crab — aka krab — is made of Alaskan pollock and commonly used in salads and sushi rolls.</li><li>While imitation crab is more affordable than real crab, it doesn't have as much nutritional value.</li></ul>Do you love a good <a href="https://www.insider.com/how-the-california-roll-was-invented-by-a-canadian-chef-2020-8">California roll</a> or head straight for the seafood salad at potlucks? Maybe you can't order Chinese takeout without adding on a side of crab Rangoons?If you're a fan of foods featuring imitation crab, aka krab, you can thank Japanese fish paste manufacturer Sugiyo. While trying to develop artificial jellyfish in the <a href="https://journals.sagepub.com/doi/pdf/10.1191/1474474003eu261oa" target="_blank" rel="noopener">1970s</a>, they realized their creation more closely resembled crab meat and changed course, or <a href="https://foodinjapan.org/japan/kanikama/" target="_blank" rel="noopener">so the story goes</a>.Once imitation crab hit the markets in the late '70s, it became wildly popular as an affordable alternative to crab meat. Yet while real crab packs a major protein punch, imitation crab doesn't have quite as much nutritional value.<h2>What is 'krab', exactly? </h2><div type="image" title="Chunks of imitation crab on a plate next to some cucumbers." height="2085" width="3200" msid="98485282" hostid="261" sizebytes="289310"></div>Typically, imitation crab is made of Alaska pollock surimi. Pollock is a mild white fish, while <a href="https://journals.sagepub.com/doi/pdf/10.1191/1474474003eu261oa" target="_blank" rel="noopener">surimi</a> refers to fish that's been deboned, washed, and finely ground into a paste.Some brands of imitation crab may contain <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/727546/nutrients" target="_blank" rel="noopener">up to 2% crab meat and crab extracts</a>, along with other fish oils and extracts. Others may have no crab at all.If you have a <a href="https://www.insider.com/signs-of-a-food-allergy-2019-6">seafood allergy</a>, you'll want to read ingredient labels carefully — or just pass on imitation crab, to be on the safe side.Unlike real crab, imitation crab has a number of <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/727546/nutrients" target="_blank" rel="noopener">added ingredients</a>, like salt, sugar, egg white, and starches, according to <a href="https://www.healthcanal.com/author/eva-de-angelis" target="_blank" rel="noopener">Eva De Angelis</a>, a licensed dietitian nutritionist and health writer at <a href="https://www.healthcanal.com/" target="_blank" rel="noopener">Health Canal</a>. Manufacturers add these to give the meat a firm, glossy texture, add flavor, and make it easier to freeze.You'll usually also find additives on the ingredient list. Common ones include <a href="https://www.insider.com/guides/health/diet-nutrition/what-is-msg">monosodium glutamate (MSG)</a>, artificial flavorings, added colors, and <a href="https://www.insider.com/guides/health/diet-nutrition/what-are-preservatives">preservatives</a>, like phosphates and sodium benzoate. These help the imitation crab last longer and improve its taste.Of course, all these added ingredients make imitation crab a very different product from real crab and other unprocessed fish."Imitation crab is a highly-<a href="https://www.insider.com/guides/health/diet-nutrition/what-is-processed-food">processed food</a>, so I don't recommend eating it frequently," De Angelis said.<h2>Is imitation crab healthy? </h2><div type="image" title="Tray of crab and avocado sushi rolls." height="576" width="1024" msid="98485284" hostid="261" sizebytes="90294"></div>Imitation crab has about <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/727546/nutrients" target="_blank" rel="noopener">90 calories per 100 gram serving</a>, while crab has <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/175164/nutrients" target="_blank" rel="noopener">84 calories per serving</a>. But beyond their similar calorie counts, imitation crab pales in comparison to real crab, according to De Angelis, not to mention many other types of seafood.For example, imitation crab has 6.41 g of <a href="https://www.insider.com/guides/health/diet-nutrition/what-is-protein">protein</a> per serving. That may seem like a fairly respectable amount, until you compare it to pollock's <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/450359/nutrients" target="_blank" rel="noopener">12 g</a>, crab's 16.3 g, and salmon's whopping <a href="https://fdc.nal.usda.gov/fdc-app.html#/food-details/173686/nutrients" target="_blank" rel="noopener">19.8 g</a> of protein per serving.What's more, imitation crab contains about 15.4 g of <a href="https://www.insider.com/guides/health/diet-nutrition/what-are-carbs">carbohydrates</a> per serving and 5.1 g of <a href="https://www.insider.com/guides/health/diet-nutrition/total-sugar-vs-added-sugar">added sugars</a>. Whole fish contains no carbs or added sugars.Carbs can make up an important part of a <a href="https://www.insider.com/guides/health/diet-nutrition/how-to-start-eating-healthy">balanced diet</a>. Yet, imitation crab may not be the best choice for your meal plan if you're limiting carbs for health or other reasons.Real crab is also packed with important vitamins and minerals, including <a href="https://www.insider.com/guides/health/diet-nutrition/vitamin-c-benefits">vitamin C</a>, <a href="https://www.insider.com/guides/health/diet-nutrition/folate-vs-folic-acid">folate</a>, <a href="https://www.insider.com/guides/health/diet-nutrition/magnesium-benefits">magnesium</a>, <a href="https://www.insider.com/guides/health/diet-nutrition/vitamin-b12-benefits">vitamin B12</a>, <a href="https://www.insider.com/guides/health/diet-nutrition/zinc-benefits">zinc</a>, and selenium. Imitation crab contains some of these nutrients, like vitamin B12, magnesium, and selenium — but in far lower amounts.Like many other types of seafood, real crab is also rich in <a href="https://www.insider.com/guides/health/diet-nutrition/omega-3-foods">omega-3 fatty acids</a>, providing <a href="https://www.hsph.harvard.edu/nutritionsource/what-should-you-eat/fats-and-cholesterol/types-of-fat/omega-3-fats/" target="_blank" rel="noopener">351 milligrams (mg) per serving</a>. Whole Alaska pollock offers 281 mg of these heart-healthy fats, imitation crab only provides about <a href="https://tools.myfooddata.com/nutrition-facts/174203/wt1" target="_blank" rel="noopener">31 mg</a> per serving. If you're concerned about <a href="https://www.insider.com/fish-higher-amounts-of-mercury-than-others-2019-7">mercury</a> in your fish, you can safely choose real or imitation crab: Both <a href="https://www.insider.com/healthiest-fish-to-eat-expert-2019-7">pollock</a> and crab are <a href="https://www.fda.gov/food/environmental-contaminants-food/mercury-levels-commercial-fish-and-shellfish-1990-2012" target="_blank" rel="noopener">very low in mercury</a>.<h2>Rising costs and sustainability</h2><div type="image" title="A docked fishing boat unloading its catch of Alaskan pollock." height="682" width="1024" msid="98485286" hostid="261" sizebytes="186196"></div>The <a href="https://www.kuow.org/stories/bracing-for-the-economic-fallout-after-the-collapse-of-the-bering-sea-crab-season" target="_blank" rel="noopener">rising costs of crab</a> have made imitation crab a more appealing option for many shoppers.However, you'll find Alaska pollock in plenty of other products besides imitation crab. Its mild taste and affordability make it a good option in fish sandwiches, fish sticks, fish tacos, and more.Pollock's popularity and relatively low cost may help explain why the US demand <a href="https://www.nationalfisherman.com/alaska/alaska-pollock-on-a-wild-ride" target="_blank" rel="noopener">increased during the COVID-19 pandemic, National Fisherman reported</a>. The war in Ukraine has also boosted the demand for US-caught Alaska pollock, since sanctions against Russia have reduced the country's seafood exports.Yet as the demand for pollock continues to rise, its cost will likely go up. Prices of Alaska pollock are about 40% higher than they were in 2017, <a href="https://www.seafoodsource.com/news/supply-trade/pollock-could-see-big-price-increases-as-supplies-drop-amidst-high-demand" target="_blank" rel="nofollow noopener sponsored">SeafoodSource reported</a>.Overfishing may also become a concern in the future, if high demand continues.As of January 2023, fish and wildlife experts consider Alaska pollock a responsible choice. "U.S. wild-caught Alaska pollock is a smart seafood choice because it is sustainably managed and responsibly harvested under U.S. regulations," <a href="https://www.fisheries.noaa.gov/species/alaska-pollock" target="_blank" rel="noopener">NOAA Fisheries</a> said on its website.So, when shopping for imitation crab products, opt for those that use wild-caught Alaska pollock to make the most environmentally-responsible choice.

How healthy imitation crab is compared to other seafood, and what surimi sticks are actually made of

<ul><li><keyword id="3051440" type="General" weightage="20" keywordseo="The-Advertising-Club" source="Orion">The Advertising Club</keyword> elects <keyword id="274365" type="General" weightage="20" keywordseo="Partha-Sinha" source="Orion">Partha Sinha</keyword> as President. </li><li>Announces Managing Committee members at Annual General Meeting.</li></ul> Advertising, Marketing and Media industry’s apex body – The Advertising Club today announced the Managing Committee for the current fiscal, i.e., F.Y. 2021-2022, at its 67th Annual General Meeting. Partha Sinha, President – Response Bennett, Coleman &amp; Co. Ltd., has been elected to lead the body. Speaking about the appointment Partha Sinha, President, The Advertising Club said – “It’s an honour to be able to serve as the President of The Advertising Club. We have a very powerful management team this year and we want to do some meaningful engagement with the advertising, media and marketing community. Last 16 months have been really difficult for the fraternity and we would like to ensure that we work closely with everyone to get some of the mojo back. Our primary focus will remain excellence. We will celebrate excellence, train people to create excellence and create forums where people can exchange thoughts and ideas around excellence.” The below members were elected unopposed. The Office Bearers of The Advertising Club for 2021-2022 are: ·Partha Sinha : President ·Rana Barua : Vice President ·Shashi Sinha : Secretary ·Mitrajit Bhattacharya : Jt. Secretary ·Dr. Bhaskar Das : Treasurer Managing Committee Members include the below industry leaders who will play a decisive role in driving synergies and ensuring the success of all The Advertising Club initiatives: ·Punitha Arumugam ·Vikram Sakhuja ·Ajay Kakar ·Debabrata Mukherjee ·Rahul Johri ·Aditya Swamy ·Pradeep Dwivedi In addition, given below is the list co-opted industry professionals: ·Raj Nayak ·Sonia Huria ·Sidharth Rao The below list of leaders will continue to bring value to The Advertising Club through their expertise and deep understanding of the respective industry segments: ·Avinash Pant ·Kartik Sharma ·Ajay Chandwani ·Sapangeet Rajwant ·Namrata Tata ·Rathi Gangappa ·Sabbas Joseph ·Sanjay Adesara ·Vikas Khanchandani ·Malcolm Raphael Partho Dasgupta will continue as a member of the Managing Committee as the Immediate Past President for the ensuing year.

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