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News from October 6, 2025

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IICE 2025: India’s Premier Ice Cream Expo Shines at Yashobhoomi, Delhi
Technology

IICE 2025: India’s Premier Ice Cream Expo Shines at Yashobhoomi, Delhi

Delhi: The Indian Ice Cream Expo (IICE) 2025 is currently underway at the iconic Yashobhoomi Convention Centre in Dwarka, Sector 25, Delhi, bringing together the full spectrum of India’s ice cream industry under one roof. Now in its 13th edition, IICE continues to be a powerhouse event for innovation, collaboration, and business development in the world of ice cream. The event kicks off with a start, marking a vibrant start to what promises to be the most impactful edition yet. Organized by the Indian Ice-Cream Manufacturers’ Association (IICMA) and managed by AIM Events, IICE 2025 is backed by leading industry players. HAIER joins as the TITLE Partner, while KAP Group and Lotus Machineries Solutions support the event as Platinum Partners. The expo also welcomes DP Chocolates, Morde Foods, Nivriti Agro, and Centric Software Hong Kong Ltd. as Gold Partners, further underscoring the scale and prestige of the event. This year, the expo draws participation from top ice cream brands including Amul, Vadilal, Havmor, Naturals, Scoops, HOCCO, Hangyo, Arun, Creambell, Dinshaw’s, Pastanji, Dairy Don, Top N Town, Apsara, and Pabba’s. Over 30 international companies are also exhibiting, many for the first time, highlighting the global reach and appeal of IICE. Across three days, IICE 2025 offers an immersive experience through live seminars, interactive workshops, product demonstrations, and business networking opportunities. Industry experts, chefs, and innovators share valuable insights on everything from ingredient trends and production technologies to branding and market expansion. The event places a strong emphasis on B2B development, making it a key destination for manufacturers, distributors, startups, and service providers seeking meaningful connections and new opportunities. Industry leaders are enthusiastic about the potential of this year’s edition: Rajesh Gandhi, Chairman of Vadilal Industries and IICMA, invites all stakeholders to actively participate in what he calls a “thriving hub of opportunities.” Sudhir Shah, President of IICMA and Managing Director of Scoops, highlights the expo’s importance in fostering connections and accelerating business growth. Aashish Nahar, Secretary of IICMA and MD of Creamica Ice Cream, reflects the excitement among exhibitors and visitors alike, noting strong participation from both domestic and international delegations. Firoz H. Naqvi, Director of AIM Events, reports that the Indian ice cream market, valued at ₹30,000 crore (USD 2 billion) as of March 2023, is growing rapidly at a projected CAGR of 15–20%. He attributes this growth to India’s young population, rising disposable income, urbanization, and an increasing demand for premium and innovative ice cream products. The invaluable support of the managing committee members, dedicated members, visionary entrepreneurs and professionals from the fraternity, this achievement reflects the collective dedication and unity of the entire IICMA leadership and team. The exhibitor profile at IICE 2025 is vast and diverse. Visitors can explore cutting-edge manufacturing machinery, cone production technologies, printing and packaging systems, and cold chain logistics solutions. Key suppliers showcase a variety of flavours, stabilizers, emulsifiers, dry fruits, nuts, spices, and saffron, offering insight into the latest taste trends. The expo also features labelling and coding equipment, wooden stick production, dairy and confectionery products, food processing machinery, and display counters tailored for ice cream parlours and kiosks. Consultants, interior designers, and e-commerce platforms are also present, providing expert guidance and exploring new channels for digital sales and retail expansion. With over 30,000 attendees expected, IICE 2025 draws a wide-ranging audience that includes distributors, importers, exporters, entrepreneurs, and top executives from the ice cream industry. Professionals from retail chains, bakeries, cloud kitchens, food service companies, beverage brands, and culinary schools are also actively participating. The event attracts strong interest from the hospitality sector, including hotels, restaurants, resorts, and procurement heads, as well as government representatives, food technologists, educators, and media personnel. This convergence of stakeholders makes IICE 2025 a vibrant marketplace for learning, deal-making, and discovering the next big trends in the ice cream business. As the expo continues to delight and inspire, IICE 2025 reaffirms its position as the premier platform for showcasing innovations, building partnerships, and celebrating the evolving world of ice cream in India. With its dynamic energy and future-focused agenda, the industry comes together to say—“Grand Success to IICE 2025!”

Telangana Today
Naidu reaffirms commitment to revive Visakhapatnam Steel Plant
Technology

Naidu reaffirms commitment to revive Visakhapatnam Steel Plant

Amaravati: Andhra Pradesh Chief Minister N Chandrababu Naidu on Monday said the state government remains committed to strengthening and protecting the Visakhapatnam Steel Plant (VSP). The chief minister noted that over the past year, with the support of the Centre and cooperation from the state government, significant progress has been made in the steel plant's production, calling it a welcome development. “The state government is committed to strengthening and protecting the Visakhapatnam Steel Plant,” Naidu said in a press release following a review of the industry at the Secretariat. The review meeting focused on strengthening VSP and driving it towards maximum production capacity, it added. Naidu assessed the steps taken in the past year and the outcomes achieved. He emphasised that the management, workers, employees, and both the Centre and state governments must continue working together to pull the plant out of losses and further strengthen it. “The progress being seen today is the result of measures taken, collective decision-making and coordination over the past year,” he said. According to the press release, as a result of the coalition government's efforts, the Centre sanctioned financial assistance of Rs 11,440 crore for the plant, with the majority allocated to reviving operations and bringing the plant back on track. Over the past year, with Central assistance and continued cooperation from various state departments, production capacity has increased significantly, the release said. In September last year, only 25 per cent of the plant's capacity was being utilised, whereas by this September it had reached 79 per cent. Describing this as a highly positive development, Naidu instructed steel plant authorities to push further. He directed that by the end of the third quarter of FY26, the plant should reach a production capacity of 92.5 per cent, stressing that all stakeholders must work in unison to achieve this goal.

PTI
Thompson accuses govt of shifting millions in financial reports without explanation
Technology

Thompson accuses govt of shifting millions in financial reports without explanation

Shadow Minister of Finance Kwasi Thompson has accused the government of producing financial reports with sudden shifts, often in the tens of millions of dollars, without providing the Bahamian people with clear or timely explanations. “The most recent example is particularly troubling. In the final fiscal report of the year, we see the government slashing its reported spending numbers downward by some $30 million, just enough to appear close to meeting budget targets. This conveniently timed revision raises serious concerns about transparency and accountability. Yet, the Bahamian people were offered no proactive explanation.” Thompson was responding to reports in The Tribune that the Ministry of Finance had not justified the removal of $37.3 million from spending and deficits incurred between July and November 2024. That report also said that the Ministry of Finance, when it unveiled the government’s fiscal performance for June and the full budget year, revealed that the fiscal deficit only exceeded initial projections by 13 percent to close at $78.9 million compared to the originally-targeted $69.8m. However, a closer inspection of the figures – particularly a comparison of the Ministry of Finance’s May and June fiscal reports – discloses that the government only came so close to its target because of last-minute changes to monthly expenditure and deficit figures for the first five months of the 2024-2025 fiscal year. Thompson also said: “While the Davis Administration continues to pat itself on the back for allegedly meeting fiscal targets and impressing international agencies, the daily reality for Bahamians tells a very different story, one of rising hardship, insecurity, and growing frustration. “Yet this government continues to speak in press conferences and spreadsheets, parading numbers that do not reflect the lived reality of Bahamians. This government continues to confuse fiscal public relations with economic reality. “The Davis Administration conveniently avoids talking about the crisis of 65,000 Bahamians who they have admitted are underemployed, forced to work part-time when they need full-time work. Economic recovery means nothing if it doesn’t reach everyone, and this government has done nothing to ensure that it does. “The wealth gap is growing. The cost of living is exploding, and this administration has forgotten the people who elected them. This government has failed to address the human crisis behind the numbers.”

Youri Kemp Senior Business Reporter
Nobel Prize 2025 in medicine goes to 3 scientists for unlocking immune system’s self-control
Technology

Nobel Prize 2025 in medicine goes to 3 scientists for unlocking immune system’s self-control

Stockholm: Mary E Brunkow, Fred Ramsdell, and Dr Shimon Sakaguchi won the Nobel Prize in medicine on Monday for their discoveries concerning peripheral immune tolerance. Brunkow, 64, is a senior programme manager at the Institute for Systems Biology in Seattle. Ramsdell, 64, is a scientific adviser for Sonoma Biotherapeutics in San Francisco. Sakaguchi, 74, is a distinguished professor at the Immunology Frontier Research Centre at Osaka University in Japan. The immune system has many overlapping systems to detect and fight bacteria, viruses and other bad actors. Key immune warriors, such as T cells, get trained on how to spot bad actors. If some instead go awry in a way that might trigger autoimmune diseases, they're supposed to be eliminated in the thymus — a process called central tolerance. The Nobel winners unravelled an additional way the body keeps the system in check. The Nobel Committee said it started with Sakaguchi's discovery in 1995 of a previously unknown T cell subtype now known as regulatory T cells or T-regs. Then, in 2001, Brunkow and Ramsdell discovered a culprit mutation in a gene named Foxp3, a gene that also plays a role in a rare human autoimmune disease. The Nobel Committee said two years later, Sakaguchi linked the discoveries to show that the Foxp3 gene controls the development of those T-regs, which in turn act as a security guard to find and curb other forms of T cells that overreact. The work opened a new field of immunology, said Karolinska Institute rheumatology professor Marie Wahren-Herlenius. Researchers around the world are now working to use regulatory T cells to develop treatments for autoimmune diseases and cancer. “Their discoveries have been decisive for our understanding of how the immune system functions and why we do not all develop serious autoimmune diseases,” said Olle Kampe, chair of the Nobel Committee. Thomas Perlmann, Secretary-General of the Nobel Committee, said he was only able to reach Sakaguchi by phone on Monday morning. “I got hold of him at his lab, and he sounded incredibly grateful, expressing that it was a fantastic honour. He was quite taken by the news,” Perlmann said. He added that he left voicemails for Brunkow and Ramsdell. The award is the first of the 2025 Nobel Prize announcements and was announced by a panel at the Karolinska Institute in Stockholm. Nobel announcements continue with the physics prize on Tuesday, chemistry on Wednesday and literature on Thursday. The Nobel Peace Prize will be announced on Friday, and the Nobel Memorial Prize in economics on Oct 13. The award ceremony will be held Dec 10, the anniversary of the death of Alfred Nobel, who founded the prizes. Nobel was a wealthy Swedish industrialist and the inventor of dynamite. He died in 1896. The trio will share the prize money of 11 million Swedish kronor (nearly USD 1.2 million).

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NIRDPR Hyderabad and NITI Aayog launch training programs
Technology

NIRDPR Hyderabad and NITI Aayog launch training programs

Hyderabad: The National Institute of Rural Development and Panchayati Raj (NIRDPR), Hyderabad, in collaboration with NITI Aayog, launched Refresher Training Programmes under the Aspirational Blocks Programme (ABP) on Monday. The NIRDPR, Hyderabad is conducting these training programmes focusing on five important sectors, namely Health, Nutrition, Basic Infrastructure, Education, Social Development and Financial Inclusion. The programmes began simultaneously at nine venues on Monday and will continue until November 20, 2025. The NIRDPR will conduct 126 trainings in batches and cover around 5,000 Block Level Officers, Aspirational Block Fellows and Block Pramukhs from Aspirational Blocks, according to a press release. The Aspirational Blocks Programme, initiated by NITI Aayog in 2023, aims to transform the 500 most underdeveloped blocks across the country. The programme was formally inaugurated by Dr G Narendra Kumar IAS, DG, NIRDPR in the presence of senior officials, including Anand Shekar, Additional Mission Director, Aspirational Block Programme, NITI Aayog.

Telangana Today
Sterling Bank and Trust fully absorbed by Mauritius firm
Technology

Sterling Bank and Trust fully absorbed by Mauritius firm

Bahamas-based Sterling Bank & Trust Limited has been fully absorbed by Mauritius-based IIHL (Capital) Ltd., after it acquired the remaining 49 percent equity from the remaining shareholder M/s Sterling Bancorp Inc., a statement from Sterling Bank & Trust released Saturday explains. The statement further explains that IIHL acquired 51 percent equity in Sterling in September 2022. “M/s IIHL (Capital) Limited, (Mauritius) is a 100 percent owned subsidiary of IndusInd International Holdings Limited (IIHL Mauritius). M/s IIHL is an entity based out of Mauritius with a net worth of US$ 1.26 billion as of 31st August 2025, and has interests in banking, finance, securities and insurance (BFSI),” the statement said. “M/s IIHL, Mauritius is the promoter of IndusInd Bank Limited, India’s fifth-largest private sector bank serving 42 million customers across segments through a pan-India network of around 7,000+ branches, and a deposit base of over US$ 44 billion.” According to Sterling’s statement, the name of the bank will be changed from Sterling Bank & Trust Limited to IIHL Bank & Trust Limited. Founder of Sterling Global Financial Group Davis Kosoy said in a previous statement, when IIHL bought the majority stake in Sterling Bank and Trust, that its clients and team would benefit from the new relationship. Kosoy is also an investor in numerous real estate developments across The Bahamas. Saturday’s statement explained that IIHL recently concluded a series of “value accretive acquisitions” in India to complete its para banking suite in the banking, financial services and insurance (BFSI) space “in the interest of its global shareholders”. “The acquisition of Sterling Bank & Trust Limited is a part of IndusInd International Holdings Limited’s (IIHL) strategy to be a global player in the BFSI sector,” the statement said. It added that IIHL Mauritius will bring the superior technology and global market products to the customers it has gained through the acquisition and future customers. “B.R.S.Satyanarayana, managing director and CEO of the bank, has stated that the acquisition will help the IIHL Bank & Trust Limited’s long-term sustainable growth and stability,” the statement said.

Chester Robards Senior Business Reporter
Citi using generative AI to enhance client and corporate efficiencies
Technology

Citi using generative AI to enhance client and corporate efficiencies

Citi Bahamas has joined its global family in implementing generative artificial intelligence (GenAI) for the benefit of its clients and empowerment of its employees, the company said in a statement. General Manager of Citi Bahamas John Lopez said in the statement that GenAI will help Citi employees to make faster and more informed decisions. He added that the technology is not a substitute for the intuition of the bank’s employees. “At Citi Bahamas, the adoption of generative artificial intelligence marks a pivotal step in optimizing our operations,” said Lopez. “We are committed to responsible innovation. GenAI is not a substitute for human judgment, but rather a powerful tool that enhances the way we work for the benefit of our clients.” The statement explains that Citi has introduced four new GenAI tools that will streamline and enhance compliance, risk, human resources, and finance. It adds that those solutions are called Citi Stylus, Citi Stylus Workspaces, Citi Assist, and Citi Squad. Those GenAI solutions will provide instant insights from documents in multiple formats, with advanced summarization and comparison features. “Unlike traditional AI, which follows predefined rules, generative AI leverages advanced language models and neural networks to predict and generate original outcomes based on learned patterns,” the statement said. The statement explains that about 150,000 Citi employees across 51 jurisdictions already have access to the AI tools. Citi said it plans to expand to more jurisdictions throughout the rest of the year. The bank adds that the state-of-the-art technology is helping its employees to respond to clients faster, and enhance transaction security with more sophisticated fraud detection, “delivering tailored financial solutions that better address client needs”. “For our institutional, corporate, public sector, and multinational clients, Citi’s adoption of generative AI translates directly into faster, safer, and more personalized service,” said López. Citi Bahamas is one of the top banks globally for multinational companies, with Lopez telling Guardian Business last month that the bank is also at the forefront of digitalization. He said on a global level, Citi has introduced new digital technology for its clients, and recognizes that having the technology to meet clients’ needs in a rapidly changing world is paramount.

Chester Robards Senior Business Reporter
Central Bank advises public consultations on compendium of proposed legislative reforms
Technology

Central Bank advises public consultations on compendium of proposed legislative reforms

The Central Bank of The Bahamas (CBOB), in a release on its website, advised that a public consultation on a compendium of proposed legislative reforms has commenced for public consideration. “The public consultation consists of two separate papers designed to enhance the financial regulatory framework, strengthen depositor protection, and improve overall the resilience of the financial system,” the bank said on Friday. The first consultation paper outlines amendments to several key pieces of legislation, including the Central Bank of The Bahamas Act, 2020, the Banks and Trust Companies Regulation Act, 2020, the Protection of Depositors Act, 1999, The Protection of Depositors Bye-laws, 1999, The Payment Systems Act, 2012, and The Payment Instruments (Oversight) Regulations, 2017. Additionally, there will be regulatory frameworks for the Protection of Depositors (Administrative Monetary Penalties) Regulations, 2025, and Central Bank of The Bahamas (Administrative Monetary Penalties) Regulations, 2025. The release continued: “These proposed reforms aim to strengthen the resolution framework for systemically important financial institutions, including banks and credit unions; migrate money transmission service providers from the banking framework to the broader payment institutions framework, in line with global best practices; strengthen oversight of payment systems and instruments and increase the scope to regulate payments instruments in the interest of the consumer; Expand depositor protection, supported by back-up funding arrangements to ensure confidence and stability in the financial system; and introduce governance and currency reforms, including provisions for the Bahamian dollar digital currency. “The consultation paper also reflects recommendations from the International Monetary Fund following technical assistance missions and safeguards assessments, which emphasized alignment with international standards.” There will also be attempts at reforming the credit union sector. The second consultation paper will outline key amendments to legislation, including the Bahamas Co-operative Credit Unions (Amendment) Bill, 2025; and the Bahamas Co-operative Credit Unions (Amendment) Regulations, 2025. “The draft bill and regulations reflect the Central Bank’s continued efforts to promote enhanced transparency and accountability, as endorsed by international standards-setting bodies responsible for supervisory and regulatory oversight of credit unions. As such, these legislative reforms seek to advance supervisory and regulatory requirements related to corporate governance procedures, capital adequacy, and reserve requirements for credit unions.”

Youri Kemp Senior Business Reporter
Gold price jumps Rs 9,700 to over Rs 1.3 lakh/10 g in Delhi
Technology

Gold price jumps Rs 9,700 to over Rs 1.3 lakh/10 g in Delhi

New Delhi: Gold prices skyrocketed by Rs 9,700 to scale a fresh peak of Rs 1,30,300 per 10 grams in the national capital on Monday, lifted by safe-haven buying in the overseas markets and depreciation in the rupee. According to the All India Sarafa Association, the yellow metal of 99.9 per cent purity had closed at Rs 1,20,600 per 10 grams on Friday. In the local bullion market, gold of 99.5 per cent purity jumped by Rs 2,700 to hit a record high of Rs 1,22,700 per 10 grams (inclusive of all taxes) on Monday. It had settled at Rs 1,20,000 per 10 grams in the previous market session. Silver prices also witnessed robust gains. The white metal bounced by Rs 7,400 to hit a new peak of Rs 1,57,400 per kilogram (inclusive of all taxes). It had ended at Rs 1,50,000 per kg on Friday. In the international markets, spot gold rose nearly 2 per cent to touch an all-time high of USD 3,949.58 per ounce, while silver went up over 1 per cent to hit a high of USD 48.75 per ounce.

PTI
Man held for stabbing friend over Rs. 33,000 dispute in Hyderabad
Technology

Man held for stabbing friend over Rs. 33,000 dispute in Hyderabad

Hyderabad: The Kanchanbagh police arrested a person for allegedly stabbing a man with a knife following a dispute over Rs. 33,000 on Sunday. The arrested person, Taher Bin Abdullah Barawar Ahmed (20), earns his livelihood by doing petty business on the footpath at Charminar. According to the police, the suspect had been a friend of the victim, Shaik Saif, for several years. In December last year, Taher took a hand loan of Rs. 33,000 from Saif for business purposes. After repaying Rs. 10,000, he failed to return the remaining amount. On Sunday, the suspect called Saif to a place in Hafeezbabanagar on the pretext of discussing the issue and stabbed him repeatedly with a knife, said ACP Kanchanbagh A Sudhakar. Taher fled from the spot but was caught and arrested by the police on Monday.

Telangana Today
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