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E-Malt.com Newsletter 20a
May 13 - May 15, 2013
Quote of the Week
"...there is only one game at the heart of America and that is baseball, and only one beverage to be found sloshing at the depths of our national soul and that is beer."
Peter Richmond
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Currency Rates
Base Currency: US Dollar
on May 15, 2013 |
Base Currency: Canadian Dollar
on May 15, 2013 |
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1 USD = 0.7703 EUR
1 USD = 0.6544 GBP
1 USD = 1.0127 CAD
1 USD = 1.0060 AUD
1 USD = 101.7680 JPY
1 USD = 2.0126 BRL
1 USD = 31.3492 RUB
1 USD = 6.2007 CNY
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1 CAD = 0.9876 USD
1 CAD = 0.6462 GBP
1 CAD = 0.7608 EUR
1 CAD = 0.9935 AUD
1 CAD = 100.5060 JPY
1 CAD = 1.9877 BRL
1 CAD = 30.9607 RUB
1 CAD = 6.1238 CNY
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Currency Rates Chart
Equities of the Largest Breweries
Mexico & Belgium & USA: Grupo Modelo’s Board finds fair buyout price proposed by AB InBev, approves sale of Piedras Negras brewery to Constellation Brands
...Click here
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USA, OR: Craft Brew Alliance announces first quarter 2013 financial results
...Click here
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USA: The Small BREW Act reintroduced in the Senate again
...Click here
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Canada, SK: Saskatchewan beer prices are the highest in Canada
...Click here
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Canada, BC: Nine new craft breweries to open in Vancouver in 2013
...Click here
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USA, FL: Grayton Beer Company to expand in Walton County
...Click here
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USA, NY: Shmaltz Brewing Co. opens new brewery in Saratoga County
...Click here
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USA, MT: Mighty Mo Brewing Company to open in Great Falls in October
...Click here
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USA, WI: City Brewery launches La Crosse Session Series Amber Lager
...Click here
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USA, NY: Greenport Brewing Company to open new location by August
...Click here
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USA, WA: Airways Brewing Company releases collaborative beer with Seattle Beer Broads
...Click here
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World: EU malt export forecast to increase this year
...Click here
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World: Molson Coors sees growing premium beer sales in central Europe
...Click here
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The Netherlands & Myanmar: Heineken forms JV to brew and sell its beers in Myanmar
...Click here
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The Netherlands & India: Heineken acquires 3.2% stake in United Breweries
...Click here
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Singapore & Thailand: ThaiBev first-quarter profit plunges 20% partly due to lower contributions from beer and soft drinks
...Click here
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World: Barley production forecast to reach the highest level in 4 years next year
...Click here
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The Philippines: San Miguel Brewery hit by tax rises in Q1
...Click here
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EU: New crop spring barley plantings at their final stage
...Click here
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Nigeria: Guinness Nigeria nine-month profit falls 18%
...Click here
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Ukraine: Barley and wheat production forecast reduced because of continuing dryness
...Click here
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Africa: Heineken trying to attract female drinkers with lemon-flavoured Radler beer
...Click here
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India: United Breweries, United Spirits get Rs 91cr service tax notice
...Click here
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Israel: Boutique brewers unhappy about government’s new beer tax
...Click here
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Singapore: Fraser and Neave shares rise on news of cash payout to shareholders
...Click here
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Taiwan: Taiwan to be the first country to taste new Heineken Light beer
...Click here
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Graph of the Week
Table of the Week
US Barley Supply and Distribution
Prices Evolution
Barley Prices
Canadian Malting and Feed Barley Prices
US Malting and Feed Barley Prices
French Malting and Feed Barley Prices
Theoretical Malt Prices
Canadian Malt Prices
US Malt Prices
Theoretical EU Malt Prices
Average Seafreight Rates by Destination
Port of Origin: Antwerp, Belgium
Scientific Digest
Assessment of changes in hop resins and polyphenols during long-term storage
ABSTRACT
The storage stability of hop pellets is a concern of every brewer and it has been shown in the past that certain varieties exhibit a better storage stability than others. This study was an extensive investigation about the storage stability of the
Czech hop varieties Sladek, Agnus, Saaz and Premiant. Aging of hop pellets was negilible during storage if the pellets were protected from oxygen. When exposed to oxygen, the degradation of alpha and beta acids was severe and accelerated after 6 months. In this comparison, Saaz was found to be the most stable Czech hop variety.
Read more
Source: Barth Innovations
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These Days in Business History
May 13
1842 1st edition of London Illustrated News
1862 Adolphe Nicole of Switzerland patents chronograph
1884 Institute for Electrical and Electronics Engineers (IEEE) forms
May 14
1872 Metropolitan Gas Company lamps lit for 1st time
1881 World's 1st elec tram goes into service in Lichterfelder (near Berlin)
May 15
1878 The Tokyo Stock Exchange Co., Ltd., is established, primarily to trade bonds
1905 Las Vegas, Nevada founded
1941 The world's first successful jet aircraft, a Gloster E28/39 powered by a W1 engine designed by Frank Whittle, takes off and lands at Farnborough, England
Agenda
May 2013:
16-01 June: The Czech Beer Festival 2013 (Prague, the Czech Republic)
22-25: Pivo (Beer) 2013 (Sochi, Russia)
23-25: Copenhagen Beer Festival 2013 (Copenhagen, Denmark)
24-26: The Annual International Beer Festival Latviabeerfest 2013 (Riga, Latvia)
26-30: European Brewery Convention 2013 (Luxembourg)
29-02 June: Mondial de la Biere (Montreal, Canada)
June 2013:
25-27: Brasil Brau 2013 (Sao Paulo, Brazil)
28: III Field Day of Malting, Kvass and Beer Brewing Industry in Russia (Oboyan, Russia)
July 2013:
17-19: China BevTek 2013 (Shanghai, PR China)
August 2013:
06-09: 4th Iberoamerican VLB Symposium 2013 (Buenos Aires, Argentina)
September 2013:
10-12: V Anniversary International Scientific and Practical Conference "Equipment Facilities and Raw Material Base for Malting, Kvass and Beer Brewing Production" (Moscow, Russia)
16-20: Drinktec 2013 (Munich, Germany)
21-06 October: Oktoberfest (Munich, Germany)
26-28: Stockholm Beer and Whisky Festival 2012 (Stockholm, Sweden)
October 2013:
03-05: Stockholm Beer and Whisky Festival 2012 (Stockholm, Sweden)
30-01 November: The Latin American Barley Congress(Bahia Blanca, Argentina)
More events are available on site www.e-malt.com
News Articles
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Mexico & Belgium & USA: Grupo Modelo’s Board finds fair buyout price proposed by AB InBev, approves sale of Piedras Negras brewery to Constellation Brands
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Grupo Modelo, S.A.B. de C.V., the leader in Mexico in beer production, distribution and marketing, announced on May, 14 that the company's members of
...More info on site
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USA, OR: Craft Brew Alliance announces first quarter 2013 financial results
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Craft Brew Alliance, Inc. (“CBA”) reported on May, 8 its financial results for the first quarter ended March 31, 2013 and confirmed 2013 guidance.
CBA’s focus on building a national portfolio strategy has positioned the Company to expect strong sales and profit growth in 2013 and take advantage of the dynamic craft segment to achieve long-term value for its shareholders. The results for the first quarter ended March 31, 2013 were in line with management’s expectations, and the Company confirms 2013 guidance.
Significant financial highlights for the quarter ended March 31, 2013 include:
Depletion volume growth of 5% compared to last year’s first quarter, reflecting the continued success of the company’s portfolio strategy.
As expected, a decrease in net sales and non-contract shipments of 4.9% and 3.3%, respectively, compared with the same quarter of 2012, as a result of optimizing supply chain processes to better align with the seasonality of sales, which impacted brewing and shipping volumes during the quarter.
Gross margin rate of 24.4%, a decline of 600 basis points from 2012 driven by lower shipment volume and lower capacity utilization.
Selling, general and administrative expense (“SG&A”) of $11.8 mln inclusive of both continued investment in the company’s portfolio strategy and approximately $0.5 mln
...More info on site
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USA: The Small BREW Act reintroduced in the Senate again
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Three months after the Small Brewer Reinvestment and Expanding Workforce Act (Small BREW Act) was reintroduced in the House of Representatives as H.R. 494, the Brewers Association (BA) announced on May, 10 the Senate version of the Small BREW Act, S. 917, was reintroduced by Senator Ben Cardin and Senator Susan Collins.
The Small BREW Act seeks to recalibrate the federal beer excise tax that small brewers pay on every barrel of beer they produce, reflecting the evolution of the overall brewing industry. An earlier iteration of the bill, S. 534, was introduced in 2011 during the 112th Congress and enjoyed bi-partisan support.
Under current federal law, brewers making less than 2 mln barrels annually pay $7 per barrel on the first 60,000 barrels they produce, and $18 per barrel on every barrel thereafter. The Small BREW Act seeks to recalibrate that rate so that the smallest brewers and brewpubs would pay $3.50 on the first 60,000 barrels. For production between 60,001 and 2 mln barrels the rate would be $16.00 per barrel. Any brewer that exceeds 2 mln barrels (about 1 percent of the U.S. beer market) would begin paying the full $18 rate. Breweries with an annual production of 6
...More info on site
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Canada, SK: Saskatchewan beer prices are the highest in Canada
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Saskatchewan now has the highest beer prices in Canada, The Huffington Post reported on May, 13.
Consumers in Alberta, however can raise their glass to the fact they are no longer drinking the most expensive suds in the country.
Recent liquor tax hikes make the going rate for a case of domestic beer in Saskatchewan the highest in the country - at an average of C $24.99, including tax and deposit.
Comparatively, Albertans pay an average of C $23.02 for a dozen bottles, while consumers in Nova Scotia, New Brunswick, Newfoundland and P.E.I. shell out between C $23.50 and C $24.00 for 12 beer.
“In order to make the budget number for this year, we felt we had to put the prices up,” Newfoundland Labrador Liquor Corp. CEO Steve Winter said in March.
Manitoba made a similar move following their budget in April, boosting the price of a 12-pack of domestic beer by C $2 and upping the price of spirits about 47-cents per 750-millilitre bottle.
"It's just another way the government can squeeze some more money out of taxpayers," Canadian Taxpayers Federation spokesman Colin Craig said.
Albertans can also relish in the fact they no longer pay the most for the hard stuff, either.
Drinkers in
...More info on site
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USA, KY: Lexington Brewing Co. to expand
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When Alltech purchased the Lexington Brewing Company in 1999, the Kentucky Ale it produced was used mostly as a promotional item to be handed out at corporate events, according to Hal Gervis, global operations manager for Alltech’s Lexington Brewing and Distilling Co.
That has changed. Their beer is now available in 13 states; Alberta, Canada; Ireland; and in Beijing and Shanghai, and the company is in the process of shifting much of its production from its cramped brewery to the former Kentucky Eagle distribution facility.
On May 11, they released their newest beer, an India Pale Ale (IPA).
The IPA will be Alltech’s first canned beer, to be followed closely by a rebranded Kentucky Kölsch, currently called Kentucky Light. The IPA will be sold in four-packs of 16-ounce cans, as well as limited bottles. The Kölsch will also be sold in the pint-sized aluminum cans.
The IPA will join the Light/Kölsch, Kentucky Bourbon Barrel Ale, Kentucky Bourbon Barrel Stout and the original, Kentucky Ale, in the group’s full-time line-up of products.
Since starting off with Kentucky Ale, Gervis and Nathan Canavera, beer and spirits brand manager, said the tastes of the public have evolved from “the yellow fizzy water.”
And, that is one of the reasons
...More info on site
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Canada, BC: Nine new craft breweries to open in Vancouver in 2013
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The recent relaxation of liquor laws in Vancouver, British Columbia, appears to have launched a craft beer renaissance, International Meetings Review reported on May, 13.
Nine micro-breweries are scheduled to open in 2013, following on the heels of three new-to-market breweries in 2012.
East Vancouver’s appropriately called the Brewery Creek district, is known for the operations that flourished there over a century ago will be home to many of the new companies, some offering tasting rooms.
In addition, new beer parlors opening up around the city include Tap & Barrel, Bitter Tasting Room, Portland Craft and a soon-to-open 140-tap pub at Olympic Village's historic Salt Building.
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USA, FL: Grayton Beer Company to expand in Walton County
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Grayton Beer Company, LLC, based in Rosemary Beach, Florida, is preparing for a multi-year expansion in Walton County that will result in 40 news jobs, Area Development Online reported on May, 10.
The firm's capital expenditures for the project will total more than $1.2 mln for production and packaging equipment and enhancements for its new 30,000-square-foot building.
“It has been our goal to expand into our own production and the state of Florida stepped up to help make it a reality,” said Grayton Beer Company President Jamey Price. “We are excited and proud to be adding full-time jobs in South Walton County, especially at a time when unemployment is still so high across the country.”
Before selecting South Walton for its new site, Grayton Beer Company had considered locations in neighboring states, state economic development officials said. However, it was Florida’s support that led to Grayton Beer expanding in Walton. Incentives offered the firm includes a $542,000 award from the Industry Recruitment, Retention and Expansion Fund Grant Program, which the University of West Florida administers. The company also qualified for a $280,000 Qualified Target Industry (QTI) tax refund during the next five years. A company receives QTI - a tax refund -
...More info on site
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USA, NY: Shmaltz Brewing Co. opens new brewery in Saratoga County
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A ribbon-cutting ceremony and preview event attended by local officials, politicians, business development leaders and craft-beer industry professionals was held in Clifton Park on May, 13 afternoon to welcome Shmaltz Brewing Co. to Saratoga County, The Saratogian reported on May, 13.
Founder and President, Jeremy Cowan led a small assembly of well-wishers on a tour of the nearly 20,000-square-foot brewing facility.
“The town of Clifton Park welcomes Shmaltz Brewing,” Clifton Park Supervisor Phil Barrett said. “They represent a growing segment of the economy, and their commitment to locating in Clifton Park is a significant private-sector investment for our town.”
The brewery plans to hire upwards of 10 full-time staff members for the new operation, in addition to the dozen staffers currently handling sales, marketing and contract brewing operations. The space also touts a 1,700-square-foot tasting room and roughly 800 square feet of office space.
“It is wonderful to see a company like Shmaltz Brewing establish operations in New York’s Capital District,” Democratic U.S. Congressman Paul Tonko said. “Our region’s rich agricultural heritage coupled with the booming market for craft beers will provide them with the opportunity to hit the ground running. Small businesses like Shmaltz Brewing are the success stories of our recovery,
...More info on site
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USA, MT: Mighty Mo Brewing Company to open in Great Falls in October
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Business partners Seth Swingley and Casey Kingsland plan to open Mighty Mo Brewing Company in October, Great Falls Tribune reported on May, 11.
The brewery will have a tasting room open from 10 a.m. to 8 p.m. daily.
“We will also sell our beer to other retail establishments in kegs and cans,” said Swingley, who will handle sales and marketing. Kingsland is the brewmaster.
“We decided to get into this industry because of our passion for craft beer and because the industry is thriving at both the national and local levels,” Swingley said.
Mighty Mo Brewing Company is the first recipient of a loan from a new revolving loan fund for start up businesses. The fund received financing from the Montana Department of Commerce and a donation from Centene Corp. The loan program is administered by the Great Falls Development Authority. The loans are paired with financing from the private sector, such as banks, for start up businesses in Great Falls.
“Without them we never would have got our company off the ground,” Swingely said. “Also, thank you to Erin Townsend and Stockman Bank for all her help and believing in us!”
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USA, WI: City Brewery launches La Crosse Session Series Amber Lager
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City Brewery is pumping almost 500 barrels of new, craft-brewed life into the La Crosse brand name, Madison.com reported on May, 9.
La Crosse Session Series Amber Lager represents the re-entry of City Brewery Brands — owned by one of the brewery’s owners, Ralph Morello — in the craft market.
“We’re trying to be a little innovative,” brand sales director Don Morello said. “This is a whole new adventure for us.”
The amber lager will be a year-round offering that will likely be joined, eventually, by two other flagship craft brews, plus seasonal offerings. Six-pack cans should retail for about $6.99, and several local bars will have the beer on tap. Bottles will be offered in late June or early July.
The former G. Heileman Brewery fell on hard times in the late 1990s and sold off its locally owned beer brands in 2007, although they remained with one of the brewery’s part-owners. Since then, it’s found new life as a contract brewer of beers, malt beverages and non-alcoholic drinks.
It is still contracted to make several craft brews, and produced the “Golden Leaf” line of craft brews, an update to an old Heileman’s line, from 2003-2006. More recently, it brewed City Brewery Festbier, which
...More info on site
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USA, NY: Greenport Brewing Company to open new location by August
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Residents hoping to sit outside in the beer garden and enjoy the Greenport Brewing Company's new Peconic location will have to wait - but just a few weeks longer than originally planned, NorthFork Patch reported on May, 9.
According to Rich Vandenburgh, who owns the business with his partner John Liegey, some issues including permits pushed the project back between six weeks and two months.
The hope is to begin brewing beer at the new location by August, with the tasting room and beer garden open by early fall.
Originally, Vandenburgh had hoped to open the doors of the new location by July.
"It would have been awesome to open for the summer but just like anything, things always seem to move a little more slowly," Vandenburgh said.
Once the new location opens on Peconic Lane, the brewery's Greenport location on Carpenter Street will still remain fully operational, Vandenburgh said, with a test kitchen.
"We'll eventually wind up opening a tap room downstairs at the street level in Greenport," he said.
Since 2009, Greenport Harbor Brewing Company has been operating out of the renovated firehouse on Carpenter Street, which Vandenburgh renovated again to increase production due to demand for the craft beer. But that expansion was not
...More info on site
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USA, MN: Bent Paddle Brewing Co. opens in Duluth
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Duluth’s growing reputation as a craft beer hub is about to get another boost, Duluth News Tribune reported on May, 15.
Bent Paddle Brewing Co., the city’s latest microbrewery, will open for business on May, 16 in Lincoln Park.
Experienced brewmasters Colin Mullen and Bryon Tonnis are behind the venture, along with their wives. The two couples chose Duluth to start their brewery because they felt there was more room for growth in Duluth and, they say, Lake Superior water is better for brewing.
After nearly three years of planning and preparation, six months of construction and a solid business plan, they are launching their business with their first two flagship beers: Bent Paddle Black, an oat-infused black ale, and Bent Hop, a golden India pale ale. Two more flagship beers, an extra special bitter called 14 degree ESB, and a craft lager called Venture Pils, will be added this summer. A changing line-up of seasonal offerings will follow.
“It’s a surreal feeling being on the cusp of opening the doors,” Tonnis said. “There’s so much work that went into this. It just doesn’t feel real sometimes. But it sure is.”
Bent Paddle beer will be sold by the keg and six-packs of 12-ounce
...More info on site
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USA, WA: Airways Brewing Company releases collaborative beer with Seattle Beer Broads
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Just in time for Seattle Beer Week, Airways Brewing Company is releasing their second annual Seattle Beer Broads collaboration brew, available on draught beginning this week, brewbound.com reported on May, 13.
The Seattle Beer Broads is a group of over 160 local women working in the beer industry, celebrating their love of craft beer, and educating other women on the historical significance of females in the craft beer industry.
This year’s collaborative recipe and brew session resulted in a bitter. The Beer Broads Spring Bitter is similar to a British Extra Special Bitter (ESB), but with a Northwest flair. A portion of the proceeds will go to support education for women entering the brewing industry.
“For the second year in a row, the Beer Broads were surveyed and said they wanted to brew a beer that fits the season,” said Alex Dittmar, owner and head brewer at Airways Brewing Company. “We came up with a Northwest take on a British classic.”
Founded in Spring 2010, Airways Brewing Company is a growing microbrewery located in Kent, Washington. Currently producing several year-round and seasonal offerings – including Sky Hag IPA®, Chocolate Stout, Pre-Flight Pilsner™ and Oatmeal PSA™ – Airways Brewing also features limited edition
...More info on site
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World: EU malt export forecast to increase this year
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The EU is forecast to export a total of 2.85 mln tonnes of barley malt in 2012/13, up from 2.804 mln tonnes last year
...More info on site
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World: Molson Coors sees growing premium beer sales in central Europe
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Denver-based brewer Molson Coors sees growing sales of premium beers in central Europe as a bright spot amid stagnant western markets struggling to lift
...More info on site
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The Netherlands & Myanmar: Heineken forms JV to brew and sell its beers in Myanmar
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Dutch brewer Heineken said on May, 13 it had signed a joint venture agreement to brew and sell its beers in Myanmar, part of
...More info on site
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The Netherlands & India: Heineken acquires 3.2% stake in United Breweries
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United Breweries, controlled by liquor baron Vijay Mallya, said in a stock exchange filing that Heineken UK Ltd had been allotted the 3.2% stake
...More info on site
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Singapore & Thailand: ThaiBev first-quarter profit plunges 20% partly due to lower contributions from beer and soft drinks
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Singapore-listed Thai Beverage (ThaiBev) said on May, 14 its first-quarter net profit plunged 20 per cent on-year to 3.5 billion baht (S$146 million), partly
...More info on site
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World: Barley production forecast to reach the highest level in 4 years next year
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World barley production is forecast to recover to the highest level in 4 years in 2013/14, USDA said on May, 10, making its first
...More info on site
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The Philippines: San Miguel Brewery hit by tax rises in Q1
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San Miguel Brewery has been hit by tax rises in the Philippines with volumes and profits falling in its first quarter.
Operating profits slid
...More info on site
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EU: New crop spring barley plantings at their final stage
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New crop plantings of spring barley in the EU approach their final stage, industry sources reported earlier this month.
As of the beginning of
...More info on site
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Nigeria: Guinness Nigeria nine-month profit falls 18%
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Guinness Nigeria Plc, the West African nation’s second-largest brewer, said nine-month profit declined 18 percent as weak consumer spending stifled growth, Bloomberg reported on
...More info on site
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Ukraine: Barley and wheat production forecast reduced because of continuing dryness
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Ukraine agricultural analysts from the company UkrAgroConsult trimmed their forecast for the 2013 grain harvest to 52.21 million tonnes due to lower-than-expected wheat and
...More info on site
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Africa: Heineken trying to attract female drinkers with lemon-flavoured Radler beer
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A thirst for beer among Africa's middle classes is driving the world's biggest brewers to invest on the continent, but getting women to drink the beverage is another matter, Reuters reported on May, 13.
One brewer, Heineken, is attempting to woo the elusive female African drinker with a sweeter, low-alcohol beer made from malt and lemon that it hopes will persuade them to try its other lagers.
Siep Hiemstra, head of Heineken's African operations, said beer consumption on the continent was still predominantly male, but the new drink, Radler, with a 2-3 percent alcohol content, could change women's perceptions.
"For female drinkers this is the first step towards the beer category," Hiemstra said. "If that is the case, it will probably also allow them to enter the beer category and taste a nice Heineken."
The Dutch brewer, which operates in 20 African countries and competes with SABMiller and Diageo , introduced Radler in the Democratic Republic of Congo (DRC) last month and plans to launch it elsewhere in Africa and Western Europe this summer, Hiemstra said.
Heineken is not alone in trying to tap the market for women drinkers. Danish brewer Carlsberg, for example, has the Eve brand of lychee-flavored lower alcohol beer.
However, some beer
...More info on site
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India: United Breweries, United Spirits get Rs 91cr service tax notice
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Directorate General of Central Excise Intelligence (DGCEI) has issued a show-cause-cum-demand notices to Vijay Mallya-owned firms United Breweries and United Spirits Ltd, for allegedly evading service tax of Rs 91 crore, The Indian Express reported on May, 13.
"Both the firms have evaded the service tax on sponsoring various shows and sports events," a senior DGCEI official said.
The notice is pertaining to sponsoring events like the Indian Premier League, East Bengal Football Team, Force India Team, Wills India Fashion Week, Mohan Bagan Team.
The notice issued to United Breweries is for the amount of Rs 21.7 crore, while that to United Spirit is of Rs 69.3 crore.
According to the officials, a DGCEI team had recently visited the Bangalore offices of both the firms.
Officials said that if the amount was not paid within a month, penalty of 25 per cent would be imposed on the total amount.
Meanwhile, United Spirits in its statement to PTI said that the DGCEI Mumbai has asked them to furnish the soft copy of the ledger extract of Advertisement & Sales Promotion expenses for the period 2007 - 08 to 2011 - 12.
"DGCEI has, without verifying the nature of the expenses accounted
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Israel: Boutique brewers unhappy about government’s new beer tax
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Israel’s new austerity drive has given the country’s boutique brewers a hangover, The Wall Street Journal reported on May, 14.
The beer-makers have joined the legions of Israelis who are unhappy about the cuts imposed by the Israeli government to close its budget deficit, just months after the inauguration of a government elected on promises from rookie politicians like Finance Minister Yair Lapid to protect middle income earners.
Purchase taxes on beer nearly doubled last year as tax authorities sought to limit so called “negative’’ social fallout from alcohol consumption. Despite appeals from the brewers who claimed the tax could risk the closure of start-up enterprises that employ hundreds, the parliament’s finance committee last month voted to make the hike permanent.
Though Mr. Lapid said in a late April speech that the vision behind his fiscal plan was to put “the working man at the center”, Israeli brewers claim the new beer tax hits precisely the small time entrepreneurs the new finance minister pledged to champion.
“We thought that promoting small businesses in rural areas fits his vision,” said Ori Saguy, the chief executive of the Alexander Beer Brewery and the chairman of the association of small brewers.
“The message has not spread,” Mr. Saguy
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Singapore: Fraser and Neave shares rise on news of cash payout to shareholders
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Fraser and Neave Ltd (F&N) shares rose on May, 13 after the Singapore property and drinks company proposed to distribute S$4.73 billion ($3.8 billion) in cash, or S$3.28 per share, to shareholders, Reuters reported.
The proposed cash payout accounts for around 85 percent of the S$5.6 billion proceeds from selling its 40 percent stake in Tiger Beer maker Asia Pacific Breweries Ltd to Dutch company Heineken NV last year.
F&N shares gained as much as 3.7 percent to S$9.21, the highest since April 22. Shares of Thai Beverage surged as much as 6.4 percent to a record of S$0.67. More than 84 million Thai Beverage shares were traded, 1.6 times the average full-day volume over the past 30 days.
Thai billionaire Charoen Sirivadhanabhakdi, through Thai Beverage and TCC Assets Ltd, is F&N's biggest shareholder. In January, the tycoon won a two-month battle with a group led by Overseas Union Enterprise Ltd for F&N's remaining businesses.
After the cash payout, CIMB Research expects F&N to have a net gearing of 0.17 times and RNAV (revised net asset value) of around S$7.75.
F&N's second-quarter earnings were lifted by its food and beverage as well as property units, CIMB said, adding that the second half of 2013 is
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Taiwan: Taiwan to be the first country to taste new Heineken Light beer
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Taiwan will be the first country to taste Heineken Light, the newest light beer brewed up by Heineken, scheduled to hit store shelves on May 15, The China Post reported on May, 11.
With 140 years history and a market presence in 198 countries, the international brewing company is looking to increase its customer base even more through Heineken Light. The new variety has a lower alcohol content of 3.3 percent and a chic bottle design to attract more urban customers.
The Dutch headquarters choose Taiwan as the launch country for the new product as people here have become more and more open-minded in recent years to embracing new things, according to Heineken Marketing Manager Jeff Wu.
“We hope to provide local customers more options in order to have more fun in their beer consumption,” said Wu.
The Dutch brewer will expand sales channels to unconventional venues, including local cafes serving food and beverages.
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