Credit to services sector rises 17.1% in Feb: RBI

Credit to agriculture and allied activities increased by 13.1 per cent in February 2014


On a year-on-year (y-o-y) basis, non-food bank credit increased by 14.7 per cent in  February 2014 as compared with the increase of 15.4 per cent in February 2013, RBI said today.


Credit to agriculture and allied activities increased by 13.1 per cent in February 2014 as compared with the increase of 15.9 per cent in February 2013.


Credit to industry increased by 13.2 per cent in February 2014 as compared with the increase of 17.4 per cent in February 2013. Deceleration in credit growth was observed in mining and quarrying, beverages and tobacco, textiles, wood and wood products petroleum and coal products, chemical and chemical products, cement and cement products, basic metals, vehicles, gems and jewellery and  infrastructure.

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Seafood Company Suffers as Political Tension in Ukraine Continues

UKRAINE - The current political tension in Ukraine is causing problems for on of Europe's leading crab stick and surimi producers, Viciunai Group.


"It is very difficult for our business to hold out in Ukraine. Naturally, purchases of Viciunai products have dropped as local residents started buying canned food expecting even worse times ahead. Although, hopes are also alive that the situation will normalise sooner or later," said Visvaldas Matijosaitis, Head of Viciunai Group, speaking to ELTA news agency.


"We are aware that our losses are going to be high here but we shall continue to meet our commitments. After all there are agreements with networks – we must supply goods. When purchases fall and the exchange rate deteriorates you cannot avoid losses and start raising product prices disregarding agreements. The agreements stipulate that we have to inform traders about price increase in advance and must negotiate with them on that," he continued.

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Russia: Illegal antibiotic use in layer feed

Compound feed for layers is regularly been found to contain therapeutic doses of antibiotics even though the use of antibiotics in feed for laying hens is prohibited in Russian law.


"We are detecting illegal antibiotics in feed or even too high levels of legal antibiotics on a regular basis. For instance, from some producers in the Primorsky Territory we received feed that contained such levels of antibiotics, which were equal to therapeutic doses. Moreover, in compound feed for laying hens we regularly found therapeutic doses of antibiotics, when in fact the use of antibiotics in feed for laying hens is prohibited by Russian law," said Elena Titova from the department of safety of feed and feed additives of the All-Russian State Centre for Quality and Standardisation of Animal Drugs and Feed.