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E-Malt.com Newsletter 25a
June 18 - June 20, 2018
Quote of the Week
Man's way to God is with beer in hand.
Koffyar Tribal Wisdom, Nigeria
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Currency Rates
Base Currency: US Dollar
on June 20, 2018 |
Base Currency: Canadian Dollar
on June 20, 2018 |
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1 USD = 0.8630 EUR
1 USD = 0.7575 GBP
1 USD = 1.3254 CAD
1 USD = 1.3547 AUD
1 USD = 109.9000 JPY
1 USD = 3.7460 BRL
1 USD = 64.0683 RUB
1 USD = 6.4684 CNY
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1 CAD = 0.7544 USD
1 CAD = 0.5715 GBP
1 CAD = 0.6510 EUR
1 CAD = 1.0220 AUD
1 CAD = 82.9100 JPY
1 CAD = 2.8259 BRL
1 CAD = 48.1035 RUB
1 CAD = 4.8796 CNY
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Currency Rates Chart
Equities of the Largest Breweries
USA: Barley crop faring well but farmers worried about prices, export
...Click here
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USA, LA: Huckleberry Brewing Company already open in Alexandria
...Click here
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USA, IN: Myriad Brewing Company coming to Evansville by the end of summer
...Click here
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Canada, AB: Endeavour Brewing now open for business in St. Albert
...Click here
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USA, SD: Dakota Point Brewing Company extremely well-received in Rapid City
...Click here
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USA: MillerCoors and Pabst Brewing headed to court over half-a-billion dollar lawsuit
...Click here
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USA, LA: Husband and wife preparing to open Sawbriar Brewery in Lafayette
...Click here
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USA, IL: ShadowView Brewing preparing for opening n Woodstock
...Click here
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Canada, AB: Big Rock Brewery provides update regarding proposed JV with Fireweed Brewing
...Click here
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USA, CO: Mighty River Brewing Co. under construction in Loveland
...Click here
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Belgium: Twice as much beer exported as consumed domestically in Belgium
...Click here
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Italy: Beer sales in large-scale retail distribution up 18% between 2014-2017
...Click here
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EU: MARS lowers outlook for 2018 barley yield in EU
...Click here
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Germany: Hops development accelerated by remarkably high temperatures until mid-June
...Click here
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Nigeria: Guinness Nigeria pushing aggressively towards after tax profit
...Click here
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Romania: United Romanian Breweries Bereprod sees 38% rise in canned beer sales in January-May
...Click here
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Kenya: Yearly tax will increase illicit drinks, brewers warn
...Click here
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UK: Heineken to invest GBP44 mln in its British pubs
...Click here
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Malaysia: Heineken Malaysia appoints new managing director
...Click here
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India: Fresh charges filed against United Breweries’ Vijay Mallya
...Click here
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Russia: Some bars and restaurants in Moscow running low on beer due to demand from soccer fans
...Click here
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Graph of the Week
Table of the Week
German Beer Market Overview
Prices Evolution
Barley Prices
Theoretical Malt Prices
Scientific Digest
MORE NEW MEMBERS IN THE HOPS FAMILY
ABSTRACT
The German Hop Research Team in Huell is introducing
two more hop varieties to the world. Although there is a
demand for new and exciting flavors from brewers, it is
also important to breed sucessors of established noble
varieties that exhibit more "grower-friendly" behaviour
with better resistances and higher yield. These two
varieties 89/25 and 96/24 possess agronomic strength
and were bred from saaz relatives. They both show
relevant noble aroma characters but have higher oil
contents compared to their ancestors of about 1.7
ml/100gr.
REFERENCES:
Gahr, A; Characteristics of two New Huell Hop Varieties, lecture at 13th Trends in Brewing,
April 2018, Ghent,
Read more
Source: Barth Innovations
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These Days in Business History
18 June
1840 - Samuel Morse patents his telegraph
1943 - Congress of Racial Equality (CORE) founded
1948 - .N. Commission on Human Rights adopts International Declaration of Human Rights
2009 - The Lunar Reconnaissance Orbiter (LRO), a NASA robotic spacecraft is launched
19 June
1464 - French King Louis XI forms postal service
1764 - John Barrow is born, founder of Royal Geographical Society
1963 - 1st woman in space returns to Earth
20 June
1793 - Eli Whitney patents his cotton gin
1863 - 1st bank chartered in U.S., National Bank of Davenport, Iowa
1867 - President Andrew Johnson announces purchase of Alaska
2003 - The Wikimedia Foundation is founded in St. Petersburg, Florida
Agenda
June 2018:
06-09: Mondial de la Biere 2018 (Montreal, Canada)
07-08: The Brewers of Europe Forum 2018 (Brussels, Belgium)
10-13: ASBC Malt Flavor and Aroma Symposium 2018 (Roseville, MN, USA)
20-22: Sea Brew 2018 (Manila, Philippines)
29-01 July: Mondial de la Biere 2018 (Paris, France)
August 2018:
03-05: The 22nd International Berlin Beer Festival (Berlin, Germany)
07-11: The Great British Beer Festival 2018 (London, UK)
08-11: Vietfood & Beverage 2018 (Ho Chi Minh City, Vietnam)
10-11: Beervana 2018 (Wellington, New Zealand)
12-15: Brewing Summit 2018 (San Diego, USA)
September 2018:
04-06: food & drink technology Africa (fdt Africa) (Johannesburg, South Africa)
12-14: 6th International Symposium for Young Scientists and Technologists in Malting, Brewing and Distilling (Bittburg/Trier, Germany)
20-22: The Great American Beer Festival 2018 (Denver, USA)
22-07 October: Oktoberfest 2018 (Munich, Germany)
24-26: 9th Iberoamerican VLB Symposium 2018 (Recife, Brazil)
October 2018:
23-26: China Brew China Beverage 2018 (Shanghai, China)
24-26: drink technology India 2018 (Mumbai, India)
November 2018:
13-15: Brau Beviale 2018 (Nuremberg, Germany)
More events are available on site e-malt.com
News Articles
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USA: Barley crop faring well but farmers worried about prices, export
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Much of the US barley crop is off to a "spectacular start,"an industry official says. But while the outlook for good yields is promising, barley farmers are concerned by low prices and potential lost exports, the AgWeek reported on June 18.
"Prices just aren't what we'd like them to be. And the Mexican market is so important to us," says Doyle Lentz, a Rolla, N.D., farmer and a director of the North Dakota Barley Council.
The possibility of selling less barley to Mexican beer makers — sales threatened by disruptions to the North American Free Trade Agreement — is particularly troublesome, he says.
Barley farmers' most pressing consideration is the condition of their 2018 crop — and so far, so good.
"It's been a spectacular start for our crop," reflecting recent and welcome rains, says Steve Becker, communications coordinator for the Montana Wheat and Barley Committee. His state is expected to lead the nation in barley production this year, with Idaho second and North Dakota third.
As of June 10, 83 percent of Montana barley was in good or excellent condition, with 16 percent in fair shape and just 1 percent rated poor, according to the National Agricultural Statistics Service, or NASS, an arm of
...More info on site
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USA, LA: Huckleberry Brewing Company already open in Alexandria
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A new brewery has made its way to Alexandria. Huckleberry Brewing Company held its grand opening on Saturday, June 16, KALB News reported on June 17.
The owner and brewer, Jacob Willson, is from Alexandria, but moved to Portland, Oregon sometime after high school. He spent a decade there getting into the brewing business, making and selling his own craft beers.
Now, he's come home and he brought his work with him.
He's got four homemade beers right now, and is selling them in house at their location on Sterkx Road. He's also planning on distributing them out to local restaurants.
Willson said a brewing company is an important business for a growing community.
"If you look at the major cities in Louisiana, they all have breweries,” said Willson. “Even some that are smaller than Alexandria. So I think it was just a natural procession. It's taken a while for us to get it, so I'm glad to be a part of a manufacturing brewery. We're going to have all of our beers sent out to local restaurants and bars, Southwest Beverages is going to be distributing us and we're happy to work with them. They've been a big help. And we hope that you
...More info on site
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USA, IN: Myriad Brewing Company coming to Evansville by the end of summer
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A new micro-brewery is coming to the newly renovated historic McCurdy building in downtown Evansville, TriStateHomepage.com reported on June 15.
Myriad Brewing Company is the vision and dream of Jamie Elliott.
"Well my husband and I have been working on this micro-brew concept for about three years," said Elliott.
The brewing company will be located on the first floor of the McCurdy building.
"Oh it's just a wonderful location right off of Riverside drive and it's also almost smack dab in the middle of where the Haynies corner entertainment district and where the Main street entertainment is."
Myriad Brewing Co will feature its own and regional beer.
"Well I think that is outstanding, said Evansville resident Barry Alder, "I think more business is coming with the IU Medical Center and I think there is room for everybody. We have all of the new businesses and restaurants and developments, 21 new restaurants in the last couple of years I'm looking forward to it."
Though the brewery will not serve food, Elliott says you can bring in outside food. The brewery also plans to coordinate with restaurants and food trucks.
Construction is already underway, it is expected to be finished at the end of summer.
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USA, MT: Bias Brewing already open in Kalispell
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In two months, Kalispell has gone from the biggest city in Montana with only one brewery to a blossoming bastion of beer, the Daily Inter Lake reported on June 17.
Bias Brewing opened last weekend in its new space at 409 1st Avenue East in downtown Kalispell. It is the second new brewery to open in the city in as many months.
The brewery will look to turn some of the industry standards on its head, according to Amanda Robertson, who owns the business with her husband and head brewer, Adam.
It is standard fare for a brewery to have several flagship beers — options customers can expect for as long as the brewery continues to stand. On top of that, many breweries also have several rotating specials, a beer version of the chef’s choice, which tend to change with the seasons and only last for a batch or two.
Amanda and Adam at Bias have no intention of sticking to flagship beers — at least, not at first. They have an experimental streak to nurture, and they said that while it is possible they would settle on a few popular choices, they plan on rotating all their taps at the beginning.
“As far as
...More info on site
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Canada, AB: Endeavour Brewing now open for business in St. Albert
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Alberta’s newest small brewery has announced that it is now open for business in St. Albert, the Canadian Beer News reported on June 15.
Endeavour Brewing has been founded by Matthew Atkins, with an aim to be “a family and community orientated craft brewery” inspired by “the outdoors, sports and those who are taking risks and making great things happen.”
Featuring a 15-hectolitre brewhouse, three fermenters, canning line, and a 40-seat tasting room, Endeavour opened earlier this week as has three beers available – Sudden Draft IPA (6.7% abv), Lost Flip Flop Saison (5.7% abv), and Adventure Brew Pale Ale (4.6% abv).
Endeavour Brewing is located at 4A-215 Carnegie Drive in St. Albert, and is open 12:00 noon to 7:00 PM Tuesday to Thursday, 12:00 noon to 9:00 PM Friday and Saturday, and 12:00 noon to 4:00 PM Sunday.
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USA, SD: Dakota Point Brewing Company extremely well-received in Rapid City
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The building located at 405 Canal Street, Rapid City is usually referred to by locals as the Landstrom Building. But it was originally built in 1928 as a power plant for Black Hills Energy.
Now, the building is host to a number of new businesses, the newest the Dakota Point Brewing Company. It is named for a Sheridan Lake location called Dakota Point, and Neal Schlottman, a founder and managing partner of the brewery, hopes to recreate Dakota Point’s atmosphere, but in Rapid City, Newscenter1.tv reported on June 15.
"There's a lot of history at Dakota Point,” Schlottman said. “It’s a great gathering place for friends to enjoy a cold beer around a fire and have an enjoyable time and have some fun."
Craft brewing has been enjoying a renaissance in the United States with breweries pushing the boundaries of what is possible with beer. But, this brewery is endeavoring to achieve new heights of excellence in its brews, which feature English, Irish, Scottish, and American style traditional ales.
"We're not going to try to recreate the wheel, which is what a lot of craft brewers are trying to do coming up with some really funky things,” Schlottman said. “We're just going to
...More info on site
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USA: MillerCoors and Pabst Brewing headed to court over half-a-billion dollar lawsuit
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MillerCoors and Pabst Brewing are headed to court over a half-a-billion dollar lawsuit Pabst lodged against the Keystone beer maker, CNBC reported on June 17.
The center of the dispute is a decades-old agreement under which MillerCoors brews all of Pabst's legacy beers, including Pabst Blue Ribbon. The agreement is set to expire in 2020, but it has two options to renew. MillerCoors, facing declining volume in the U.S., has said it may not have the capacity to continue that relationship.
The stakes for Pabst are high. Without that contract renewal, many of Pabst's beer brands will be orphaned. It is expensive to build a brewery and there are not many breweries across the U.S. built for the capacity a company as large as Pabst requires.
Pabst is accusing MillerCoors of breach of contract, breach of anti-competition laws, fraud and misrepresentation. MillerCoors contests those claims, arguing it has the right to determine whether it has the capacity to extend the contract.
In April, a Milwaukee court judge denied MillerCoors' motion for summary judgment, which could have prevented the suit from going to trial. The two are set to go to trial in November of this year.
MillerCoors, owned by Molson Coors, makes beers under labels
...More info on site
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USA, LA: Husband and wife preparing to open Sawbriar Brewery in Lafayette
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John and Jessica Paul certainly didn't need to take on any extra responsibilities.
He's an Army vet who is working toward his Master of Business Administration at the University of Louisiana at Lafayette. She's a special education English teacher at Edgar Martin Middle School. They're raising three school-aged children.
Yet here they are: preparing to open a microbrewery, The Daily Advertiser reported on June 17.
The Pauls plan to open Sawbriar Brewery in an abandoned warehouse at 124 S. Buchanan St. in downtown Lafayette.
They've secured a lease on the building with help from the Lafayette Public Trust Financing Authority and expect to have the microbrewery up and operating by the end of the year.
They've begun the licensing and permitting process. They've ordered the initial equipment.
But they're asking the community for help funding the two most expensive parts of the project: the taproom bar and the bathrooms.
"We want to provide people in the community a way to be part of our brewery and part of our process," Jessica Paul says. "People can put their names on parts of the brewery. We want people in the community to be part of the brewery."
A $25,000 goal has been set on crowdfunding website Kickstarter.com.
Unlike similar websites,
...More info on site
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USA, IL: ShadowView Brewing preparing for opening n Woodstock
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If you aren’t really a beer person, prepare to convert.
That’s the message John and Mark Koziol want to get across as they prepare for the opening of ShadowView Brewing, located in Woodstock at the former Rendezvous Bistro site, 2400 Lakeshore Drive, the Northwest Herald reported on June 17.
“It’s almost like saying, ‘you don’t like food,’” Mark Koziol said. “That’s not true. You might not like certain things but there is food that you like. You just have to go find it. It’s the same thing with beer.”
The two brothers are in the process of renovating the space in preparation of the grand opening, which could take place later this year.
Mark Koziol, who works in engineering and technology at an Arlington Heights company, and John Koziol, mayor of Marengo and a McHenry County Sheriff’s Department sergeant, plan to bring a unique brewery and restaurant to the location.
“We aren’t trying to be one of these giant breweries downtown,” Mark Koziol said. “We are trying to recognize that the whole craft brewing explosion is happening. Everybody is getting on the train and heading to it when they can just come here.”
“We don’t have a lot of competition. It’s going to be our own
...More info on site
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Canada, AB: Big Rock Brewery provides update regarding proposed JV with Fireweed Brewing
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Big Rock Brewery Inc. provided on June 15 an update regarding Big Rock's proposed joint venture with Fireweed Brewing Corp. ("Fireweed"), as previously announced April 19, 2018.
Although the joint venture was originally anticipated to commence in June 2018, various conditions precedent to the formal commencement of the joint venture remain outstanding. Therefore, while Big Rock continues to work towards the satisfaction of these conditions precedent, the joint venture has not yet taken effect, the company said.
Big Rock remains committed to the strategic rationale of the proposed joint venture, and will provide further updates in due course.
About Big Rock Brewery Inc.
In 1985, Ed McNally founded Big Rock to buck the time's beer trends. Three bold, European-inspired offerings – Bitter, Porter and Traditional Ale – forged an industry at a time heavy on easy drinking lagers and light on flavour. Today, the company’s ten signature beers, ongoing seasonal offerings, four ciders (Rock Creek Cider® series) and custom-crafted private label products keep it at the forefront of the craft beer revolution, still proudly bucking the time's beer trends. Big Rock brews in Calgary, Alberta, Vancouver, British Columbia, and Toronto, Ontario.
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USA, CO: Mighty River Brewing Co. under construction in Loveland
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When Dan Miller heard the corner of North Fairgrounds Avenue and Colonial Park Drive in Loveland would soon be under development, he couldn't pass up the chance to make a dream six years in the making come true, the Greely Tribune reported on June 17.
Dan has worked in the golf business for 22 years, most recently serving as the golf course superintendent for the Highland Meadows Golf Course. As he learned more about home brewing over the past 11 years, he started to think maybe opening a brewery would be the right path.
For the past six or seven years he's held onto the idea, but it wasn't until he learned the property at the corner of North Fairgrounds Avenue and Colonial Park Drive in Windsor was going to be developed that his dream started to look like a reality.
After some discussions with the site owner and a lot of planning, Dan and his wife, Kristine Miller, are now the proud owners of Mighty River Brewing Co., which is under construction at the site.
"It was meant to be," he said.
Kristine isn't the only family member in on the project — Dan's brother Tim Miller will serve as the brewmaster, bringing with
...More info on site
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Belgium: Twice as much beer exported as consumed domestically in Belgium
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Twice as much Belgian beer is being exported as consumed domestically, with drinkers increasingly turning their backs on one of Belgium’s most celebrated products,
...More info on site
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Italy: Beer sales in large-scale retail distribution up 18% between 2014-2017
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Beer sales in the large-scale retail distribution channel in Italy grew by 18% in the period 2014-2017, boosted by the nascent craft and specialty
...More info on site
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UK: Brewing industry hit by CO2 shortage
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Supplies of Heineken's John Smith's Extra Smooth and Amstel kegs have been hit by an industry-wide shortage of carbon dioxide, BBC News reported on June 20.
The CO₂ shortfall is leaving beer and soft drinks makers high and dry just as the World Cup and barbecue season get under way.
Seasonal manufacturing shutdowns have left the UK with only one big plant producing CO₂.
Heineken said it was "working with customers to minimise disruption".
But the Grocer magazine reported that Heineken had written to pubs limiting the amount they can order of the affected lines.
"We've been informed by our CO₂ supplier that they are facing a major issue with supply availability in the UK," Heineken confirmed in a statement.
Wetherspoons pub chain said that while it had not had any supply issues yet, "that is likely to change in the coming days, and it's not likely to get any better.
"There might be some products we don't have available and if it affects Wetherspoons, then it will affect everyone else."
Demand for beer and fizzy drinks is peaking as fans gather to watch the football, thanks to the recent run of hot weather.
Carbon dioxide doesn't just put the fizz into soft drinks, canned and bottled beers. It
...More info on site
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EU: MARS lowers outlook for 2018 barley yield in EU
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Severe weather, including hot, dry conditions in northern Europe and torrential rain in France, has reduced yield prospects for this year’s cereal and rapeseed
...More info on site
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Germany: Hops development accelerated by remarkably high temperatures until mid-June
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After an exceptionally warm April, temperatures continued to be far above long-term average in Germany the month of May. Rainfalls varied considerably throughout all hop growing regions and did not quite reach monthly averages. Some 400 ha were damaged by hailstorms in the Hallertau and approximately 80 ha in Tettnang, HVG said in their latest report in June.
The remarkably high temperatures continued until mid-June and have accelerated plant development very much so that currently hops are two to three weeks ahead of normal years in all German hop growing regions. Most hops reached trellis height as early as end of May. In early varieties like Hallertau Mittelfrueh, Northern Brewer and in some areas Saphir, too, the plants showed first signs of blooming. An early start of flowering, however, is not favourable for the development of hops. It has to be said, though, that at this early stage it is impossible to give reliable forecasts on crop 2018 as the decisive weeks are yet to come.
Recent weather conditions favoured infestation with spider mites as well as powdery mildew. At present, however, there are no major problems combatting them.
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Nigeria: Guinness Nigeria pushing aggressively towards after tax profit
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It was a hard drive for Guinness Nigeria pushing aggressively from a loss of N2.55 billion in the third quarter of last year to
...More info on site
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Romania: United Romanian Breweries Bereprod sees 38% rise in canned beer sales in January-May
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United Romanian Breweries Bereprod (URBB), commonly known as Tuborg Romania, recorded a 38 percent year-on-year increase of canned beer sales in the first five months of 2018, the Business Review reported on June 19.
According to company representatives, the result was also strongly supported by the introduction of 100 percent recyclable, non-adhesive heat-resistant protective film to the URBB local product portfolio – a solution in which URBB has invested more than 2 million euros in 2017.
One year after implementing the new solution, URBB commissioned ICA Research & Development to conduct a market research to survey the local canned beer market and assess the level of hygiene and compliance with the relevant legislation in force. The research was conducted during March 2018 and involved sampling of small and large stores as well as gas stations located in Bucharest and Ilfov County. Thus, the accredited laboratory of the ICA has evaluated 21 beer brands, belonging to all 5 beer producers in our country. The brands surveyed come from all market segments (economy, environment, premium and superpremium).
“In June 2017, we set for ourselves the goal of having the cleanest cans so that Romanians who buy our products are sure they can consume their favorite
...More info on site
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Kenya: Yearly tax will increase illicit drinks, brewers warn
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Kenya’s alcohol manufacturers and dealers have faulted Treasury proposal to raise excise duty on beer yearly for inflation, warning of a possible spike in the flow of illicit low-cost brew, The Nation reported on June 29.
The Alcoholic Beverages Association of Kenya (ABAK) reckons the annual tax increments would push the majority low-end consumers to low priced, unregulated liquor and hurt dealers along with the taxman in foregone revenues. It would also undermine government’s ongoing efforts to fight counterfeits, they say.
The Finance Bill 2018, whose passage will bring into force a raft of budgetary tax changes, proposes the annual raise of the sin tax on beer, cigarettes and petroleum products.
“Due to its elasticity, consumers always respond to alcohol price changes. This causes a spiral effect on production and supply chain, on jobs, government revenue and the overall performance of the economy,” the association said in a note.
“The local production decline will in turn result to job losses and negative effect on the GDP (gross domestic product).”
The association, whose members include the Kenya Breweries Ltd and Heineken East Africa, have asked the Treasury to instead align alcohol taxes charged in Kenya with those in the region, deemed lower and friendly to investors
...More info on site
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UK: Heineken to invest GBP44 mln in its British pubs
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Dutch brewer Heineken NV said on June 18 it would be investing £44 million in 2018 to upgrade its British pubs, Reuters reported.
The world’s second largest brewer bought about 1,900 pubs in Britain from Punch Taverns in 2017, making its Star Pubs & Bar estate the country’s third largest pub business. The vast majority are leased out.
Heineken said about 500 of its 2,900 pubs would benefit from the programme, including 140 larger upgrade projects costing an average of 170,000 pounds. It added the investment would create 1,000 new jobs.
The investment, its largest annual spend, will bring to 140 million pounds the amount Heineken has spent on pub refurbishments in the past five years.
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Malaysia: Heineken Malaysia appoints new managing director
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Heineken Malaysia has appointed Roland Bala as its managing director. He replaces Hans Essaadi who will be taking up the position of managing director of Heineken Eygpt effective 1 September 2018. Essaadi will also be relinquishing his directorships in all subsidiary companies of Heineken Malaysia with effect from the same day, the Marketing Interactive reported on June 18.
Currently, Bala is the managing director of Cambodia Brewery (CBL), Heineken’s operating company Cambodia since February 2012. In his role, he has led the brand to increase its market share by more than double in a bid to establish it as the market leader in Cambodia. Prior to CBL, Bala first joined the Asia Pacific Brewery as special assistant to the regional director in February 2008. He was then appointed as general manager for Danang in the central region of Vietnam until February 2012.
A+M has reached out to Heineken Malaysia for comment.
Most recently, Heineken Malaysia posted a revenue of RM434 million for its first quarter ended 31 March 2018 (Q1-2018), an increase of 11% from RM393 million. This comes on the back of its successful festive season campaign, which resulted in higher market share, the financial statement said.
In Q1-2018, the company paid approximately
...More info on site
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India: Fresh charges filed against United Breweries’ Vijay Mallya
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The pressure is mounting on the beleaguered Vijay Mallya, the former head of India’s United Spirits, with India’s Enforcement Directorate filing fresh charges accusing him of defrauding a consortium of banks out of a further £450 million, The Drinks Business reported on June 19.
Mallya fled to Britain in March 2016. While he is fighting extradition to India on charges of fraud and money laundering associated with the collapse of his Kingfishers Airlines in 2012, the High Court in London has ordered him to pay a minimum of £200,000 towards the costs incurred by 13 Indian banks in their battle to recover £1.145 billion from him.
That may prove somewhat difficult as the same court has refused to overturn a worldwide order freezing Mallya’s assets up to that sum and he is allowed £18,000 a week from which to fund his lifestyle.
Meanwhile India’s Enforcement Directorate has filed fresh charges against Mallya, his bankrupt KIngfisher Airlines and his main holding company United Breweries Holdings alleging money laundering and defrauding a consortium of nationalised banks of a further £450 million between 2005 and 2010.
The charges says that Mallya and his two firms fraudulently diverted the loans to his Force India UK-based F1 grand prix
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Russia: Some bars and restaurants in Moscow running low on beer due to demand from soccer fans
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Beer-guzzling soccer fans risk drinking parts of Moscow dry, with some bars and restaurants in the Russian capital saying they are running low and having to wait longer than usual for fresh supplies, Reuters reported on June 19.
Moscow has been transformed by the World Cup, with singing, chanting and beer-swilling fans overwhelming some of the packed bars and restaurants around the Kremlin and Red Square.
“We just didn’t think they would only want beer,” said one waiter at an upscale eatery in central Moscow who asked not to be identified for fear of scaring off future customers.
The waiter said his restaurant ran out of draft lager on June 18 and deliveries are taking longer than usual, at least 24 hours, because suppliers’ stocks are also running low.
“There are really a lot of people in Moscow ... and they are all drinking,” he said. “It’s hot, and it’s football.”
Beer sales in Russia have fallen by around a third over the past as duties have risen and rules been tightened on sales and advertising. Brewers had not been expecting a major reversal of the trend this year.
Baltika, the Russian unit of Carlsberg, said although there was an increased risk of supply disruption during
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