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California lab-grown meat start-up gets first green light

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| By AFP |

A California-based lab-grown meat start-up received the first green light for such products from the US food safety agency on Wednesday, although the product still has more hurdles to clear before being sold to consumers.

The US Food and Drug Administration said it carried out a “careful evaluation” of Upside Foods’ cultivated chicken, including data and information provided by the company, and had “no further questions at this time,” signaling a go-ahead for the firm.

“We started UPSIDE amid a world full of skeptics, and today, we’ve made history again as the first company to receive a ‘No Questions’ letter from the FDA for cultivated meat,” founder and CEO Uma Valeti said in a press release.

The FDA specified that the evaluation did not constitute “an approval process.”

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Upside Foods will still have to undergo inspection by the US Department of Agriculture, for example, before it can sell its products.

That said, this “is a watershed moment in the history of food,” Valeti said.

Several start-ups are aiming to produce so-called lab-grown meat, which would allow humans to consume animal protein without harming the environment through farming and without any animal suffering.

These products differ from plant-based substitutes such as soy burgers that mimic the texture and flavor of meat but do not contain any animal protein.

The start-up Eat Just, a competitor of Upside Foods, was the first to receive authorization to make artificial meat, in Singapore in 2020. 

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While succeeding in the general lab-meat market has proven complicated and expensive, some companies have set their sights on petfood, whose consumers are much less picky. 

Bond Pet Foods, a Colorado start-up, is creating animal protein from a microbial fermentation process to feed dogs.

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International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

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International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.

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