ASIAN shopkeepers have revealed they are struggling with low stock levels after panic buying by shoppers over coronavirus fears.
Stores have seen a spike in sales of toiletries, rice, atta flour and spices since the virus outbreak, but some shops have been unable to restock due to higher prices and also being financially “outmuscled” by supermarket giants.
In Poplar, east London, some ethnic stores are well stocked with toilet rolls, toothpaste and hand sanitiser, while supermarkets in the area are running low on those supplies. But in other areas of the country, smaller firms are struggling to buy enough stock from suppliers and websites, a crisis which could escalate with schools in England, Wales and Scotland closing last Friday (20).
Some business owners have accused the government of failing to give the retail industry a “heads-up” about panic buying and restricting consumers to a strict quantity of household goods sooner.
Ajit Atwal, a petrol station owner and Liberal Democrats councillor in Derbyshire, in the Midlands, told Eastern Eye: “Footfall has fallen 50-60 per cent this week. The government is not making it very clear, so people are unsure what to do. We are selling toilet paper at the garage, but we can’t get hold of it to sell it. People are coming in to ask for chapatti flour.
“Greedy people are hoarding for no reason.”
Atwal added: “I am all for supporting local businesses, but putting prices up at people’s expense, you are having a laugh. They [stores] should take a long hard look at themselves.
“A lot of shops are in the same situation. I am 50 and have been in business since I was a kid, but I have never experienced anything like this. People are panicking.”
The Competition and Markets Authority has vowed it will consider any evidence that firms may have broken laws by charging excessive prices or making misleading claims.
Meanwhile, research found that photographs of empty supermarket shelves spark panic buying.
Some 86 per cent of people purchase more items if exposed to images of empty shelves in online articles, the study by the University of Edinburgh’s Business School and the University of Southampton found. And 33 per cent of people surveyed admitted to stockpiling supplies.
Usman Younas, who runs the Watan Superstore in Bradford, Yorkshire, is concerned about his stock levels ahead of Easter and Ramadan which starts in late April.
He told Eastern Eye: “Initially, the government hadn’t created awareness and the implications of the disease. They played it down compared to the rest of the world.
“Then everyone went berserk, the self-isolating measure created panic. I bought as I needed to, but my main concern is Ramadan and tackling that and the influx.
“Easter is also a time when we see an increase in sales. Suppliers didn’t tell us to stock up as they weren’t told.
“We are out of stock on toiletries, down to the bare minimum in our tinned section, and spices and rice are non-existent.”
Younas added: “It has hit us, it was a surprise. There is an increase in sales but [that’s fine] as long as there is continued supply.
“We have sold everything, but cannot replace it. People are getting frustrated, and we can’t serve the community.
“The bigger retailers are quids in, they had leftover stock and can hike prices to an extent. The government should have prepared us better and given us a heads up that we might have this problem.”
One report last week said people had spent £60 million by stockpiling items.
Asda and Tesco are closing service counters – such as delicatessens and fish counters – and joined Sainsbury’s, Aldi, Lidl and the Co-op in imposing limits on amounts that can be purchased.
Sainsbury’s and Iceland have also dedicated a specific portion of their opening hours exclusively to elderly shoppers.
Meanwhile, some Asian-owned businesses near football grounds are reeling from losses with the Premier League and other tournaments announcing they were suspending matches until at least the end of April.
Revenue for businesses around Old Trafford, the home of Manchester United, is collectively worth tens of thousands of pounds on a match day.
Manchester Souvenirs and News in the Deansgate area, near the normally busy Manchester Arndale mall, sells merchandise from football clubs Manchester United and Manchester City, along with food and drinks. An employee said last week: “It’s [Covid-19] impacted us massively with customers. We are a one-man operation at the moment.”
Other businesses near Old Trafford, including Kebabish Express, were closed last Friday (20).
Schools have been closed until further notice for all except children of key workers and vulnerable children.
The Association of Convenience Stores (ACS) has called on the government to ensure that the UK’s 405,000 convenience store employees are given key worker status so they can carry on providing a lifeline to local communities.
It wrote to the government last week calling for firms to be allowed to delay VAT, employers NICs, business rates, PAYE and corporation tax for at least six months, as well as subsidise wages for people laid off as a result of the outbreak.
ACS chief executive James Lowman said: “Convenience stores are a lifeline for local people, providing essential goods in communities across Britain to those who can’t go to larger stores, or can’t get products elsewhere.
“It is essential that the colleagues working in convenience stores are given the reassurance of the key worker status so that they can keep providing that service.”
Last weekend, it emerged that Britons have spent £1 billion on stockpiling essentials in three weeks, leaving vulnerable pensioners without basics such as food and toilet paper.
Stephen Powis, NHS England national medical director, said that panic buyers were depriving hard-working NHS staff, adding: “Frankly we should all be ashamed.”
He said: “It is critical that by not stockpiling, by not selfishly shopping, that our health workers are able to get access to what they need too.”
Meanwhile, the chief executive of the British Retail Consortium said there “is plenty of food in the supply chain”.
Helen Dickinson said: “Brits have a billion pounds more food in their homes than they did three weeks ago, so we need to make sure we eat some of it.”
Dickinson said she wanted to reassure people that those “right across the food industry... are doing everything they can to ensure we have the food we all need.”
BRITAIN's unemployment rate rose slightly to 4.7 per cent in the three months to the end of May, according to official data released on Thursday. This marks the highest level since June 2021, as businesses faced the impact of a UK tax increase and new US tariffs.
The figure is up from 4.6 per cent recorded in the February to April period, the Office for National Statistics (ONS) said in a statement.
The data covers the initial period following the Labour government’s first budget last October, which included a rise in business tax. It also includes the start of a 10 per cent baseline tariff imposed by US president Donald Trump in April on goods from the UK and other countries.
The ONS also reported a slowdown in average wage growth, which has reinforced expectations that the Bank of England may lower its key interest rate next month.
This comes despite separate official figures on Wednesday showing that inflation in the UK rose to an 18-month high in June.
“Slowing activity in the labour market, coupled with pay pressures easing, will likely prompt the Bank of England to lower interest rates next month,” said Yael Selfin, chief economist at KPMG UK.
“With domestic activity remaining sluggish, the... (BoE) will likely want to provide support via looser policy to prevent a more significant deterioration in the labour market,” Selfin added.
Earlier data showed that the UK economy contracted unexpectedly for a second consecutive month in May, increasing pressure on prime minister Keir Starmer and his government.
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FILE PHOTO: Passengers gather in front of the ticket counter of Air India airlines in Delhi, India, June 13, 2025. REUTERS/Bhawika Chhabra.
AIR INDIA said on Tuesday (15) it would partially restore its international flight schedule that was scaled back following the crash involving its flight last month that killed 260 people.
As part of the restoration, Air India will start a thrice-weekly service between Ahmedabad and London Heathrow from August 1 to September 30, replacing the currently operating five-times-a-week flights between Ahmedabad and London Gatwick.
A Boeing 787 Dreamliner bound for London from the Indian city of Ahmedabad began to lose thrust and crashed shortly after takeoff on June 12. All but one of the 242 people on board and 19 others on the ground were killed.
Air India reduced some of its international flights following the crash as part of a "safety pause" that the carrier said allowed it to perform additional precautionary checks on its Boeing 787 aircraft.
The partial service resumption will see some flights being restored from August 1, with full restoration planned from October 1, 2025, Air India said.
The airline has reinstated two weekly flights on the Delhi-London (Heathrow) route that were previously cancelled, with all 24 weekly flights on this route now operating from Wednesday (16) onwards.
The Bengaluru-London (Heathrow) service remains reduced from seven flights per week to six flights per week and will be further reduced to four flights per week from August 1. The Amritsar-Birmingham route continues to operate at a reduced frequency of twice weekly instead of three times weekly until August 31, after which normal three-times-weekly service will resume from September 1. The Delhi-Birmingham route remains reduced from three flights per week to two flights per week, a statement said.
Air India has also temporarily suspended the Amritsar-London (Gatwick) route, which normally operates three times weekly, and the Goa (Mopa)-London (Gatwick) route, also a three-times-weekly service. Both suspensions will continue until September 30.
As part of the partial resumption, it also reduced flights to some destinations in Europe and North America. These include reductions in the frequency of Delhi-to-Paris flights to seven times a week from 12, effective August 1.
Flights on the Delhi-Milan route have been reduced to three times a week from four earlier.
The frequency of flights from Mumbai and Delhi to New York JFK has been cut to six times a week from seven earlier, the airline said.
(with inputs from Reuters)
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The showroom, located in Mumbai, was inaugurated by Maharashtra state's chief minister Devendra Fadnavis and opened to select visitors on Tuesday. (Photo: X/@Dev_Fadnavis)
TESLA opened its first showroom in India on Tuesday, marking its entry into the country as the electric vehicle company looks for new customers amid declining sales in the United States and Europe.
The showroom, located in Mumbai, was inaugurated by Maharashtra state's chief minister Devendra Fadnavis and opened to select visitors on Tuesday. It will be open to the general public starting Wednesday.
Inaugurated Tesla’s first-ever Experience Centre in India at BKC, Mumbai, today.This is not just the inauguration of an Experience Centre ; it’s a powerful statement—Tesla is here, and it’s chosen the right city and the right state: Mumbai, Maharashtra!"… pic.twitter.com/4ilfAHCEoO — Devendra Fadnavis (@Dev_Fadnavis) July 15, 2025
Tesla is currently offering its Model Y vehicle in India and plans to begin deliveries of a more affordable variant later this quarter.
"This is the first launch of Tesla in India. It marks a huge milestone for Tesla globally," said Isabel Fan, the company's senior regional director. She added that charging stations will be set up soon in Mumbai and New Delhi.
Despite heavy rains, many onlookers gathered outside the Mumbai showroom to see the cars on display.
Tesla has expressed interest in entering the Indian market for several years but delayed its plans due to high import tariffs on electric vehicles.
Elon Musk had earlier described India as having "more promise than any large country" but has criticised its import duties, calling them among the "highest in the world".
The Indian government has said that it will consider lowering import taxes on electric vehicles if global automakers commit to significant investment and local manufacturing.
Tesla has not yet announced any plans to build a manufacturing plant in India.
According to local media reports, Tesla will initially sell cars imported from China.
As a result, the Model Y in India starts at around $70,000 on-road, as listed on the company's website, compared to the US price of $37,490 after a $7,500 federal tax credit.
Tesla's launch in India comes at a time when the company is facing slowing demand globally. The electric vehicle market, once led by Tesla, is now highly competitive, with rivals including BYD and other Chinese manufacturers.
India is the world’s third-largest car market, but Tesla is not expected to see large volumes in the near future due to the relatively early stage of the country’s electric vehicle sector and the high prices of its models.
Sales of electric vehicles in India reached about 100,000 in 2024, which is less than three per cent of total car sales.
Soumen Mandal, senior analyst at Counterpoint, said Tesla’s pricing puts it out of reach for most Indian buyers and places it in competition with luxury car brands.
"We don't expect Tesla to play the volume game right away given the price tag," Mandal told AFP.
"We project 500-700 units sold in initial months and then that to taper off to 200-300 (per month)."
India is currently in talks with the United States on a trade deal, which includes discussions on reducing tariffs on automobiles.
In February, Elon Musk held a one-on-one meeting with Indian Prime Minister Narendra Modi in Washington.
(With inputs from agencies)
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he Port Talbot EAF will produce up to 3 million tonnes of steel per year using UK-sourced scrap.
TATA STEEL UK has started construction of a new Electric Arc Furnace (EAF) at its Port Talbot site in South Wales. Tata Group chairman Natarajan Chandrasekaran marked the groundbreaking ceremony on July 14, joined by Tata Steel CEO and managing director TV Narendran and Tata Steel UK CEO Rajesh Nair.
The EAF project is part of Tata Steel UK’s £1.25 billion plan to transition to low-carbon steelmaking, backed by £500 million from the UK government. The furnace is expected to be commissioned by the end of 2027 and aims to reduce carbon emissions at Port Talbot by about 90 per cent, or 5 million tonnes of CO₂ annually. The project is expected to support 5,000 jobs.
“This is an important day for Tata Group, Tata Steel and for the UK,” said Mr Chandrasekaran. “Today’s groundbreaking marks not just the beginning of a new Electric Arc Furnace, but a new era for sustainable manufacturing in Britain. At Port Talbot, we are building the foundations of a cleaner, greener future, supporting jobs, driving innovation, and demonstrating our commitment to responsible industry leadership.”
Business secretary Jonathan Reynolds said: “This is our Industrial Strategy in action and is great news for Welsh steelmaking backing this crucial Welsh industry, which will give certainty to local communities and thousands of local jobs for years to come.”
Wales Secretary Jo Stevens said: “The UK Government acted decisively to ensure that steelmaking in Port Talbot will continue for generations to come, backing Tata Steel with £500 million to secure its future in the town.”
The Port Talbot EAF will produce up to 3 million tonnes of steel per year using UK-sourced scrap. Construction is being led by Sir Robert McAlpine, with support from regional contractors and technology providers including Tenova, ABB, and Clecim.
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Starmer and Reeves during a visit to Horiba Mira in Nuneaton in Nuneaton. (Photo: Getty Images)
PLANS by Labour to overhaul the tax rules for non-domiciled residents in the UK could cost the public purse up to £4 billion and result in the loss of thousands of private sector jobs, according to a new analysis.
A report by the Centre for Economics and Business Research (CEBR), shared with The Times, suggested that scrapping the current non-dom regime could lead to a sharp drop in tax revenues if even a fraction of those affected decide to leave the country.
The thinktank estimates that if a quarter of non-doms - roughly 10,000 individuals - moved abroad, tax receipts could fall by £4.6bn over the next five years. That figure could rise to nearly £8bn if half of them departed.
The CEBR’s model, based on the approach used by the Office for Budget Responsibility (OBR), also predicted that such a shift could cause the UK to lose between 3,100 and 6,300 jobs, depending on how many wealthy residents choose to relocate.
This potential tax shortfall poses a serious challenge for chancellor Rachel Reeves, who currently has £9.9bn in fiscal headroom. Experts warn that this cushion could be halved or even wiped out by the autumn due to other financial pressures, such as changes to welfare payments and weaker-than-expected economic growth.
Although Labour has stood by its commitment to end the non-dom tax regime, Reeves is now believed to be considering a partial rethink. Specifically, she may drop plans to apply inheritance tax to non-doms' worldwide assets, following concerns that the proposal could accelerate the departure of wealthy individuals.
“We’re continuing to work with stakeholders to ensure the new system remains competitive on the international stage,” a Treasury spokesperson said, noting the importance of attracting global talent and investment.
Some high-profile figures have already indicated they might leave, including steel magnate Lakshmi Mittal.
Lakshmi Mittal
According to Companies House filings, more than 4,400 directors have stepped down from UK-based firms in the past year, with April departures up 75 per cent compared to the same month in 2024. Most of those exits were from finance, insurance, and property - sectors with high numbers of non-doms.
According to the report, the policy change is triggering an exodus of top earners. The centuries-old non-dom system allowed wealthy foreign residents to shield overseas income from UK taxes for a flat annual fee starting at £30,000. In its place, the government introduced a stricter residence-based scheme.
Now, anyone living in Britain for more than four years must pay income and capital gains tax on global income, with inheritance tax at 40 per cent also looming if they stay longer.
Sam Miley of the CEBR warned that even small economic shifts could have wider implications. “Our findings show the changes would negatively affect the economy, albeit modestly,” he was quoted as saying. “At a time of limited fiscal space, even marginal losses matter.”
Andrew Barclay, who runs the entrepreneur-led group Land of Opportunity, which commissioned the report, said: “It’s increasingly clear that abolishing non-dom status could do real harm to the economy and public finances. There’s still time to stop the outflow.”
A recent Oxford Economics survey of tax advisers found that 60 per cent expect over 40 per cent of their non-dom clients to leave the UK within two years of the changes taking effect.
While the exact number of departures remains unclear, the list of wealthy individuals who have already moved abroad includes billionaire Anne Beaufour, investor Max Gottschalk, and boxing promoter Eddie Hearn, among others.
Meanwhile, Labour faces growing pressure to strike a balance between tax fairness and maintaining the UK’s status as a global hub for wealth and investment.