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Author Archives: M Akram

Canada commits over $100m in assistance to Jordan

AMMAN: Canada announced Wednesday that it will supply 120 million Canadian dollars (some 100 million U.S. dollars) in assistance to Jordan to enhance the Middle East country’s security against the Islamic State (IS) militants, which seize large swathes of territory in Iraq and Syria. The announcement was made here by Canadian Prime Minister Steven Harper after his meeting with King ... Read More »

Hungary’s jobless rate reaches 7.8% in Jan-March 2015

BUDAPEST: The Central Statistics Office (KSH) said today that the average unemployment rate among Hungarians between the ages of 15 and 74 dropped to 7.8% in January-March, from the 8.3% of the same period a year earlier, but increased from 7.7% in December-February,. The office added that the number of employed young people aged 15–24 years was 264,000, and their ... Read More »

Swiss Roche sales surges to 11.8b francs in Q1 despite strong franc

BERN: Severin Schwan, the CEO of the Basel-based firm Roche said sales rose to 11.8 billion francs from 11.4 billion francs last year, beating analyst forecasts which had pegged them at an average of 11.5 billion Swiss francs.  “We started the year with strong growth and good uptake of new products,” said Severin Schwan, the CEO of the Basel-based firm. ... Read More »

Port of Spain’s new offices to accommodate 530 people

MADRID:  Port of Spain has opened new offices for the ports staff, said the Customs authority approximately 200 members of staff are now occupying the new premises but the building can physically accommodate up to 530 people. Earlier the Duek surpsiesd to see new Customs offices at port, after witnessing the spacious and opulent facility in which the 200 employees ... Read More »

Poland’s internet market grows 7.2% to PLN 2.6bn in 2014

WARSAW: The PwC research for internet business report shows that the Polish ad market grew by 7.2% to PLN 2.6 billion in 2014, and the growth may accelerate to a double-digit pace in 2015, IAB Polska said in a report. “After weaker first six months of 2014, H2 saw a clear rebound, following GDP trends, so we should not be ... Read More »

South Africa’s Standard Bank, MTN Group growing less than 2% annually

CAPE TOWN: The challenges are increasingly common ones for Africa’s largest companies, serving customers embattled by insecurity and economic turmoil. Their home market, South Africa, is racked by joblessness and power blackouts. The economy that gave rise to major banks and telecom firms like Standard Bank Ltd. and MTN Group is now growing less than 2% annually. They and their ... Read More »

Polish PMI index declines 0.3 points in March

WARSAW: The Markit group stated in report that the Poland’s manufacturing PMI index fell by 0.3 points in March 2015.“The PMI index declined from 55.1 points in February to 54.8 in March. The average for Q1 2015 has been the highest since Q1 2014 and the second highest since Q4 2010,” a press release stated. The number of new orders ... Read More »

Greece submits new list of austerity proposal to get €3 billion fund

ATHENS: The Greece Government sent a new list of austerity proposal to its international creditors for unlocking €7.2 billion fund. The content of Syriza’s proposals has not yet been publicized, but the conservative daily newspaper Kathemerini has reported that they include some €3 billion in “much-needed revenue.” Other measures include pro-business “reforms to improve Greece’s investment climate,” as well as ... Read More »

3 Zimbabweans, 1 South African arrested for smuggling cigarettes worth $200,000

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Finland introduces online whistle blower services, records 80% fraud reports in 2014

HELSINKI: Finnish tax administration said that nearly 80 percent of fraud reports now registered online, after introducing the online whistle blower services. Tax official said this year conscientious members of the public have turned in 2,200 tips about suspected tax evasion. Earlier in 2014 tax officials received some 3,500 reports for the entire year. Audit manager Heimo Säkkinen has speculated ... Read More »

Poland’s largest container terminal faces protest

WARSAW: Poland’s largest container terminal is facing protest, a group of around 30 persons protest in front of  the CEO over the termination of a union leader’s employment contract. Protest leaded a ban on dock union organizers. Despite this that, union member ship is approaching 50 percent management has failed to address union concerns over a number of important issues ... Read More »

Greece’s tax revenue target drops 13.8% in 2015

ATHENS: Ministry said that “tax revenues came in at 7.298 billion euros in the first two months of 2015, 13.8 percent below a target of 8.467 billion euros”. The central government surplus came in at 1.243 billion euros in the first two months of 2015, against a target of 1.411 billion euros, the ministry also said in its statement. Even ... Read More »

Danish ship-holding ‘Nordic’ announces profit of $2.3m in 2014

DENMARK: Nordic Shipholding Company announced that the company has earned a profit of $2.3 million in 2014. The company earned profit due to improved earning and one off gain of $5.2 million arising from the reversal of impairment loss on the Nordic Anne, said company manager in a press briefing. In Debt of $58 million company entered a conditional restructuring agreement ... Read More »