It will provide more than £1bn to Welsh farmers up to 2030

Welsh farmers will receive over £1bn across this Senedd term to support sustainable agriculture, which the Welsh Government said will give the sector the long-term certainty needed to plan and invest with confidence.

Cabinet Minister for Rural Resilience and Sustainability, Llyr Gruffydd, made the announcement at the Royal Welsh Show. The commitment delivers £340m per year for three years to March 2030 for the Sustainable Farming Scheme (SFS), including a guaranteed £238m per year for the universal layer and £102m for delivering the optional and collaborative layers.

The settlement though is around the same as farms have been receiving since 2012. The sector has been seeking £500m to take account of inflation.

The Welsh Government said the move ends the year-to-year funding model that has made long-term planning difficult for farming businesses. It fulfils a pledge made in the Plaid Cymru Government’s first 100 days to provide a multi-annual budget for the SFS.

Mr Gruffydd said: “Giving farmers only 12 months’ line of sight to funding is not sufficient. We know how hard it is to plan and make business decisions without knowing what funding is coming. Farmers told us loud and clear they need certainty and stability – and that is exactly what we are delivering.”

Following early feedback from the independent review into the bureaucratic burden on family farms, led by John Davies, the minister also announced early action to cut red tape for farmers.

The Welsh Government has announced a simplification of the approach for the Animal Health Improvement Cycle (AHIC) in the universal layer of the SFS. The Welsh Government said it will work with any interested farm assurance scheme to ensure requirements are aligned, meaning farmers in those schemes will only need to complete one form from 2027 delivering two outcomes from a single vet visit: farm assurance and SFS compliance.

The minister also announced that the roll out of some optional actions and that the new window of the Integrated Natural Resources Scheme will open later in the year, a key element feeding into the collaborative layer.

Welsh Conservative Shadow Farming Minister Andrew RT Davies said: “This represents a real terms cut to farming support and falls far short of what farmers warned is required. “Plaid Cymru separatists have found money to fund a Nation of Sanctuary for asylum seekers, but won’t fund Welsh farming adequately. Their priorities are all wrong.”

NFU Cymru President Abi Reader said: “It is the universal layer – and in particular the social value payment within this layer – that provides stability to farm businesses. It is this support that underpins the production of high-quality food for the nation, keeps farming families on the land and supports our rural communities, heritage, culture and language. That is why we warmly welcome the confirmation that the cabinet minister will stick with the 70:30 (universal and optional and collaborative layers) split for the length of this Senedd term.

“This year we have seen farm-gate prices fall in some key sectors and input prices soar in response to global instability. This move to a ring-fenced multi-annual system of farm support, coupled with a 70:30 funding split, will underpin the financial resilience of family farms and help them ride out these challenges, whilst at the same time helping deliver on our ambition for the sustainable growth of the sector.

“Farming is a long-term business with production and business investment cycles which run into many years. By moving away from a funding arrangement which offered no funding certainty from one year to the next, and by allocating 70% of the funding resource to the universal layer, the Welsh Government has recognised the volatile marketplace and complex long-term production cycles we work within. I very much commend the Welsh Government on its announcement, one that provides long term stability not just to Welsh farming but, as evidenced by all the businesses in attendance at the show, also to all those who rely on Welsh agriculture for so much of their income.”

FUW president, Ian Rickman said: “Recent years have brought significant financial uncertainty for the farming sector in Wales, making it increasingly difficult for businesses to plan with confidence and make informed long-term financial decisions.The FUW has consistently called for a five-year funding framework, so today’s commitment to provide certainty until March 2030 is a welcomed relief for the family farms of Wales. It provides much-needed stability and a stronger foundation for the remainder of the decade, giving businesses greater confidence to plan for the future.

“The minister’s commitment should also be viewed in the context of mounting budgetary pressures and evolving decisions in Westminster, both of which could have significant implications for Wales over the coming years.

“Our Senedd Election manifesto emphasised that Welsh farmers should not be disadvantaged for transitioning to a new system of support that places greater societal and environmental demands on their businesses. On this basis, we continue to highlight the need to increase the base-level funding of the SFS to mitigate any economic impacts and match the policy ambitions of the Welsh Government.

“To this end, we will continue to work closely with the Welsh Government to ensure that the universal baseline payment rates are appropriate, and that every penny of the SFS budget is received by the active farmers of Wales.

“Providing farming businesses with the certainty they need to make informed decisions is essential. Today’s announcement therefore represents a major milestone for agricultural support in Wales and an important step towards delivering the long-term confidence that Welsh farmers have been seeking.”

Victoria Bond, director of the Country Land and Business Association Cymru, said:“We are pleased that the Welsh Government has listened to the sector and delivered on its pledge for multi-annual funding. Certainty is essential for farmers and rural businesses that form the backbone of Wales’ countryside. This announcement at the Royal Welsh Show sends a positive signal and we particularly note the early steps to cut red tape following the John Davies review.

“Simplifying the animal health improvement cycle and aligning it with existing farm assurance schemes from 2027 is a sensible move that will reduce bureaucracy and ease the burden on farmers. However, success will depend on practical implementation, clear guidance and genuine partnership working with the sector. We will continue to push for further reductions in red tape burdens so that farmers can focus on delivering environmental, social and economic outcomes on the ground.”

Natco Pharma shares climbed as much as 4.5% on Monday, touching an intraday high of Rs 987.55 on the NSE, after the company announced that it has received tentative approval from the United States Food and Drug Administration (U.S. FDA) for its generic version of Olaparib Tablets.

The pharmaceutical company informed exchanges that the U.S. FDA has granted tentative approval for Olaparib Tablets in 100 mg and 150 mg strengths, which are bioequivalent to AstraZeneca‘s drug Lynparza. The approval covers the indications specified in the reference-listed drug’s approved labelling.

Natco Pharma will manufacture the Olaparib tablets, while its marketing partner Alembic Pharmaceuticals Ltd. will commercialise and distribute the product in the U.S. market. The company also noted that the Para IV patent litigation remains ongoing.

According to industry sales data, Olaparib tablets generated estimated U.S. sales of approximately $1.4 billion for the 12 months ended March 2026, highlighting the significant market opportunity once the product receives final approval and litigation hurdles are resolved.

Recent corporate development

The FDA update comes just a few days after Natco Pharma strengthened its international footprint through a strategic acquisition.

On July 14, the company completed the acquisition of an additional 13.25% stake in Adcock Ingram Holdings Proprietary Limited, one of South Africa’s leading pharmaceutical and healthcare companies.

The transaction, executed through its wholly-owned subsidiary Natco Pharma South Africa Proprietary Limited, increased Natco’s stake in Adcock Ingram from 35.75% to 49%. The acquisition was completed for an aggregate consideration of around ZAR 1.81 billion (approximately Rs 1,060 crore).

Stock Performance

Natco Pharma shares touched an intraday high of Rs 987.55 on Monday. Despite the gains, the stock continues to trade well below its 52-week high of Rs 1,226.80, while its 52-week low stands at Rs 789.
The company currently commands a market capitalisation of approximately Rs 16,925 crore.

Valuation Snapshot

Natco Pharma is trading at a price-to-earnings (P/E) ratio of 11.93 and a price-to-book (P/B) ratio of 1.83, indicating relatively modest valuations compared with many pharmaceutical peers.

Technical Outlook

On the technical charts, the stock’s 14-day Relative Strength Index (RSI) stands at 47.6, suggesting neutral momentum. Typically, an RSI reading below 30 is considered oversold, while a reading above 70 indicates overbought conditions.In terms of moving averages, the stock is trading below four of its eight key simple moving averages (SMAs) but continues to remain above its long-term 150-day and 200-day SMAs, reflecting resilience in the broader trend despite near-term weakness.

Shareholding Trend

Institutional shareholding data for the June 2026 quarter showed mixed trends. Foreign Institutional Investors (FIIs) reduced their stake to 16.99% from 17.37% in the previous quarter, while Mutual Funds increased their holdings to 1.92% from 1.72%, signalling selective domestic institutional buying.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

Andy Burnham has become Britain’s seventh prime minister in a decade, walking into Downing Street with a pledge of relief for the high street in one hand and a small business community bracing for impact on the other.

Buckingham Palace confirmed the appointment on Monday. “His Majesty received in audience the Rt Hon Andrew Burnham MP and requested him to form a new administration,” a spokesman said. “The Rt Hon Andrew Burnham MP accepted The King’s offer and kissed hands upon his appointment as prime minister and first lord of the treasury.”

No actual kissing took place, the phrase being the traditional shorthand for accepting the King’s invitation to form a government. The business community will hope the rest of the new administration’s promises prove less ceremonial.

Burnham’s rise has been remarkably swift. The former Greater Manchester mayor became MP for Makerfield only four weeks ago, took the Labour leadership on Friday following Sir Keir Starmer’s resignation, and now heads a government facing an autumn Budget with precious little room for manoeuvre.

For the owners of Britain’s 5.5 million small firms, the question is not the constitutional choreography but what the new prime minister intends to do with the power he has just acquired.

On that, there are early signals. Burnham has pledged a 20 per cent business rates cut for pubs, clubs and music venues, with the rates threshold for smaller independent hospitality, leisure and retail firms raised for the first time since 2017, funded by higher levies on the giant distribution sheds of the online retailers.

He has also promised to honour Labour’s 2024 manifesto commitments not to raise VAT, income tax or national insurance. “I stick by the manifesto and the promises that it made,” he said before taking office. “So, let me be absolutely clear about that, but there is some room within that manifesto for movement on tax.”

That last clause is the one to watch. Any rebalancing would come on top of the permanently lower business rates multipliers introduced for retail, hospitality and leisure properties from April, and would mark a further shift of the property tax burden away from the high street.

The economic inheritance, however, is unforgiving. Figures from the Office for National Statistics show the economy grew by just 0.1 per cent in May, with services doing almost all the heavy lifting while production and construction contracted.

Ben Caswell, senior economist at the National Institute of Economic and Social Research, put it bluntly: “With volatile energy prices, higher inflation on the horizon, and fragile public finances, the new PM inherits a stagflationary economy and will have just under three years to turn around a tough economic situation.”

Nor does Burnham start with the benefit of the doubt. Exclusive research shared with Business Matters last month found that eight in ten SME owners fear what a Burnham premiership will mean for their business, anxiety rooted in his interventionist instincts and past flirtations with a land value tax.

In his first remarks as prime minister in waiting, Burnham promised to make politics “less toxic”, to improve living standards across the country and to “bring back the hope we have all been missing.”

Hope, though, is not a line item in a cash flow forecast. For SME owners, the real test arrives with the autumn Budget, when the gap between the new prime minister’s high street sympathies and the state of the public finances will have to be reconciled. Until then, Britain’s business owners will do what they have learned to do through six previous prime ministers: keep calm, and keep the overdraft facility open.

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The British Chambers of Commerce, which has a presence in every region of the UK and represents some 50,000 businesses, is presenting itself as a “natural” delivery partner for incoming Prime Minister Andy Burnham’s economic growth agenda

One of the UK’s most prominent business organisations is positioning itself as a delivery partner for Andy Burnham’s economic agenda as the incoming Prime Minister vows to deliver “growth in every postcode”.

The British Chambers of Commerce, which operates across every region of the UK and represents approximately 50,000 businesses, is putting itself forward as a “natural” collaborator on the former Manchester Mayor’s plans as he seeks to shift power away from Westminster.

Prior to his move into Downing Street, Burnham has pledged to “rewire the state” through devolution, boost youth employment and reindustrialise Britain, partly driven by a new ‘Number 10 North’.

However, the British Chambers of Commerce has cautioned the incoming Prime Minister that he “will face the same fundamental challenge as Keir Starmer and Rachel Reeves” in driving economic growth. The organisation has urged Burnham to draw upon its extensive network to realise his ambitions.

“We’ll be reinforcing how Chambers are a natural delivery partner for growth-focused projects ‘in every postcode’,” Kate Shoesmith, Director of Policy at the British Chambers of Commerce, told City AM. “Our network is already delivering Local Skills Improvement Plans in 33 areas of England, a successful example of Chamber leadership.”, as reported by City AM.

Shoesmith added that the new Prime Minister must show “that he backs business from day one”.

Burnham will take the reins of an economy in which business confidence and investment have cratered in recent months. The Institute of Directors’ monthly business confidence survey revealed a sharp decline in economic sentiment among company bosses in June.

Directors also expressed greater pessimism regarding their own firms’ outlook and future revenue, with sales expectations falling to their lowest point this year.

Meanwhile, available positions in London fell by five per cent in the second quarter compared with the opening three months of the year, according to the latest employment monitor from recruitment firm Morgan McKinley.

Separate findings from the British Chambers of Commerce (BCC) revealed that fewer than a quarter of businesses intended to grow their headcount in the months ahead, while just over one in 10 were considering reducing their workforce.

Last week,

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EAST RUTHERFORD, N.J. — Lionel Messi was left in tears and with his international future uncertain after he was unable to conjure up one more piece of magic to save Argentina from defeat to Spain in Sunday’s World Cup final at MetLife Stadium.

Ferran Torres scored 37 seconds into the second period of extra time, lifting Spain to a 1-0 victory and the country’s second World Cup title, denying Messi and Argentina the chance to become the first back-to-back men’s champion since Brazil accomplished the feat in 1962.

Speaking after the match, Argentina coach Lionel Scaloni reflected on Messi’s legacy regardless of Sunday’s outcome. “I hope that everyone feels proud of him, of what he’s achieved because he’s the best football player ever stepping foot on a pitch,” Scaloni said.

An uncertain path forward

Whether Sunday marked Messi’s final appearance in an Argentina jersey remains an open question. Messi had previously said the 2022 World Cup, which Argentina won, would be his last major tournament before going on to become the first man in history to play in six World Cups just last month. Scaloni said afterward that he had not yet spoken with Messi about whether the eight-time Ballon d’Or winner intends to continue playing for the national team. Messi, along with the rest of Argentina’s players, did not stop to speak with reporters as they exited the stadium following the loss.

Inside a stadium packed with 80,663 fans, the overwhelming majority appeared to be rooting for a recoronation of Messi as a two-time champion. Instead, he fought back tears and wore a look of visible anguish as he and his teammates faced applauding, bowing Argentina supporters at the stadium’s south end, even as Spanish players lifted the trophy on a podium at midfield.

A dominant performance from Spain

Spain’s control of the match was thorough from start to finish, both in Sunday’s final and across the tournament as a whole. La Furia Roja held a commanding 20-2 advantage in shots and out-passed Argentina 845 to 433 over the course of the match.

Torres, who scored the decisive goal, described the psychological weight of facing Messi in a final. “When you have Messi on the other side, well, you are nervous,” Torres said. “At the end of the day, we always depended on us. We always come up with our football, and we showed it again.”

After leading Argentina to victory in the 2022 final against France, sandwiched between consecutive Copa América titles, Messi could only bow his head, grimace and place his hands on his hips as Spain’s Lamine Yamal, not yet a week past his 19th birthday and already regarded as the sport’s next transcendent star, ran to embrace Torres following the winning goal.

From doubts in MLS to World Cup history

When Messi left European soccer for Major League Soccer three years ago, having collected four Champions League medals and 12 league titles between Barcelona and Paris Saint-Germain, some speculated he might quietly fade into retirement. Instead, he led Argentina back to this year’s final, contributing eight goals and four assists across the tournament and lifting his career World Cup goal total to 21, a mark that had stood as the all-time record until France’s Kylian Mbappé scored twice in Saturday’s third-place match to move ahead of him with 22.

Messi also became the first player in history to start three separate World Cup finals, and Sunday’s match pushed his career international goal total to 125, trailing only Cristiano Ronaldo’s mark of 146. For many observers, this tournament only further cemented Messi’s standing as the greatest player in the sport’s history, surpassing even Diego Maradona and three-time World Cup champion Pelé in the eyes of many fans and analysts.

A frustrating final for Argentina’s captain

Messi’s distinctive playing style, a slow, deliberate walk with his arms swinging at his sides before bursting into a sprint at the decisive moment, made him the center of attention any time he touched the ball on the right flank. Opponents and fans alike anticipated his signature cut toward the center of the field, followed by a shot from his dangerous left foot.

On Sunday, however, Messi finished with just 15 touches in the first half and 54 total for the match, at a stadium where he has repeatedly faced frustration over the years. He had famously announced his retirement from international soccer following a penalty-shootout loss to Chile in the 2016 Copa América final at the same venue, only to reverse that decision 47 days later and eventually lead Argentina to its third World Cup title.

Against Spain, Messi was never able to receive the ball in a dangerous scoring position, and his attempted passes to teammates repeatedly failed to connect. Spain coach Luis de la Fuente acknowledged after the match that neutralizing Messi had been central to his team’s game plan. “The first idea was to keep Messi at bay,” de la Fuente said.

A gracious moment amid the heartbreak

Half a dozen Spanish players approached Messi after the final whistle to hug and console him. Messi dropped to the grass, sitting with his hands behind him, staring ahead in visible disbelief. When Spain’s players later formed a guard of honor for Argentina’s squad to walk through en route to receiving their second-place medals, Messi attempted to smile but could not manage it, maintaining a blank expression as a few Spanish opponents patted him on the back and chest in a show of respect.

Spain crowned a global soccer power

With the win, Spain became the first nation in history to simultaneously hold both the men’s and women’s World Cup titles, further cementing the country’s status as the dominant force in international soccer. As gold confetti fluttered down onto the celebrating Spanish players, Messi walked out through one of the stadium’s corner exits, his shoulders hunched and his expression somber, closing out a tournament that may yet prove to be the final chapter of his extraordinary World Cup career.

Sunday’s World Cup final between Spain and Argentina drew far more than soccer fans to New York New Jersey Stadium, with the venue’s stands, suites and red carpet packed with an extraordinary roster of celebrities spanning entertainment, sports, business and politics for what organizers billed as one of the most star-studded closings in tournament history.

The championship match, played at what is commonly known as MetLife Stadium in East Rutherford, capped a tournament that had drawn celebrity attention throughout its run, beginning with performances from Shakira, Michael Buble and Katy Perry at the opening ceremonies weeks earlier. FIFA built Sunday’s closing festivities to match that scale, adding a first for the tournament’s biggest stage: an official halftime show.

A historic halftime show

For the first time in World Cup history, the championship match paused at halftime for a full musical performance, curated by Coldplay frontman Chris Martin in support of the FIFA Global Citizen Education Fund. Headliners Madonna, Shakira, Justin Bieber and BTS represented the United States, Colombia, Canada and South Korea respectively, joined by British rockers Coldplay, Nigerian singer Burna Boy, Los Angeles Philharmonic music director Gustavo Dudamel and New York’s PS22 Chorus, along with characters from Sesame Street and the Muppets.

Bieber, reflecting on his involvement ahead of the show, said in a statement that the World Cup brings the world together in a way nothing else can, adding that he felt grateful to be part of the halftime show and that its proceeds were already helping expand educational access for children worldwide.

FIFA President Gianni Infantino echoed that sentiment in a press release, saying organizers were thrilled to have so many stars from both football and entertainment taking part, and that the ceremony was designed to set the tone for a historic final uniting the passion of the tournament’s 48 teams, 16 host cities and millions of fans.

Musicians and performers across the closing ceremony

Beyond the halftime show, the tournament’s closing ceremony featured Jennifer Hudson performing the U.S. national anthem, while Argentine singer Maria Becerra performed her country’s anthem ahead of kickoff. The broader closing lineup included Post Malone, Swae Lee, Laura Pausini, Nicole Scherzinger, Robbie Williams and internet personality-turned-musician IShowSpeed, who performed a backflip as part of his set. Tenor Christopher Macchio also delivered a rendition of “America the Beautiful” as part of the pregame festivities.

Sports and entertainment icons fill the stands

The crowd inside the stadium featured an equally dense concentration of star power. David and Victoria Beckham attended with sons Romeo and Cruz, along with their respective partners, while Jay-Z and Beyonce were on hand fresh off a run of concerts at Yankee Stadium the previous week. Actor Timothee Chalamet served as the match’s ceremonial ball carrier, arriving alongside girlfriend Kylie Jenner, who was photographed sharing a kiss with the actor during the match.

Tennis star Carlos Alcaraz and actress Hoyeon presented the Louis Vuitton trunk containing the World Cup trophy ahead of kickoff, while Spanish World Cup-winning midfielder Andres Iniesta was also present for the presentation. NFL legend Tom Brady, who had appeared at a World Cup-related event at Fanatics Fest in New York days earlier, attended the final alongside a wide range of athletes and entertainers, including Kevin Durant, Kevin Hart, Travis Scott, Novak Djokovic and former England international Rio Ferdinand, several of whom had gathered for a widely shared selfie with tournament finalists Rodri, Emiliano Martinez and Lionel Messi at Fanatics Fest that Friday.

Political leaders join the celebration

President Donald Trump and First Lady Melania Trump made a rare joint public appearance for the final, with the president photographed shaking hands with Spanish Prime Minister Pedro Sanchez alongside Infantino, Spain’s King Felipe VI and Queen Letizia. Mexican President Claudia Sheinbaum and Canadian Prime Minister Mark Carney were also present, alongside Carney’s wife, Diana Fox Carney, reflecting the shared hosting arrangement between the three North American countries.

Hollywood and music’s biggest names turn out

The red carpet and stands featured a sprawling list of additional attendees spanning film, music and television. Actors Tom Cruise, Sarah Jessica Parker, Matthew Broderick, Javier Bardem, Richard Gere, John Hamm, Norman Reedus, Jessica Alba, Adrien Brody and Anya Taylor-Joy, the latter of whom grew up partly in Buenos Aires and attended with husband Malcolm McRae, were among those spotted at the match. Musicians including Rihanna, A$AP Rocky, Mick Jagger, Pharrell Williams, Drake, Future, Dua Lipa and her husband Callum Turner, Sexyy Red, Yeat, 21 Savage and Central Cee were also seen throughout the venue.

Sports figures beyond the soccer world were similarly well represented, with WWE’s Roman Reigns attending with his family, alongside NFL quarterback Patrick Mahomes and his wife Brittany, NBA veterans James Harden and Victor Wembanyama, and tennis legend Serena Williams. Television personality Gayle King attended with her son, while MrBeast and girlfriend Thea Booysen, comedian Trevor Noah, and internet stars Druski and Winnie Harlow were also spotted across the venue’s various suites and hospitality areas.

A finale matching the tournament’s scale

The extensive celebrity presence throughout Sunday’s final reflected FIFA’s broader ambitions for the tournament, which organizers have described as the largest and most attended World Cup in the competition’s history. With Spain’s 1-0 extra-time victory over Argentina closing out the six-week tournament, Sunday’s blend of sporting drama and cultural spectacle underscored the scale of an event that FIFA and its partners had spent years building toward, drawing together fans, athletes, entertainers and world leaders alike for the championship match’s dramatic conclusion.