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Author Archives: Ammad Ahmed

Malaysia’s exports grew at faster pace in April, but miss forecast

KUALA LUMPUR: Malaysia’s exports grew at a faster pace in April than the month before, thanks to a rise in electrical and electronics shipments, official figures showed Friday. But the results missed expectations as a fall in exports of liquefied natural gas and crude oil continued to weigh on overall shipments. Malaysia’s April exports climbed 1.6% from a year earlier, ... Read More »

Canadian suit filed in Johnson baby powder case

OTTAWA: A Canadian class-action lawsuit has been filed against Johnson & Johnson over an alleged link between its baby powder products and ovarian cancer in adult women who used the product for long periods of time. The suit’s plaintiffs include seven women and family members living in Ontario and Quebec, and the estate of a Montreal woman who died of ... Read More »

Science instruments of NASA’s James Webb Space Telescope successfully installed

WASHINGTON: With surgical precision, two dozen engineers and technicians successfully installed the package of science instruments of the James Webb Space Telescope into the telescope structure. The package is the collection of cameras and spectrographs that will record the light collected by Webb’s giant golden mirror. Inside the world’s largest clean room at NASA’s Goddard Space Flight Center in Greenbelt, ... Read More »

Solar storms brought life on Earth: NASA

WASHINGTON: May 24 (IANS) Solar storms four billion years ago may have provided the crucial energy needed to warm Earth and seed life despite the Sun’s faintness, new research has revealed. Some four billion years ago, the sun shone with only about three-quarters the brightness we see today, but its surface roiled with giant eruptions spewing enormous amounts of solar ... Read More »

Google offices in Paris raided by tax authorities

PARIS: French investigators have raided Google’s Paris headquarters, saying the company is now under investigation for aggravated financial fraud and organised money laundering. In a major escalation of France’s long running enquiry into Google’s tax affairs, magistrates revealed Tuesday that the software giant is suspected of evading taxes by failing to declare the full extent of its activities in France. ... Read More »

UK GAS-Within-day prices climb as imports from Norway drop

LONDON: British prompt gas prices rose on Tuesday morning, as imports from Norway dropped, leaving the market under-supplied. Gas for within-day delivery fetched 30.35 pence per therm at 0852 GMT, up 0.60 pence from the last settlement. With supply flows at about 198.8 million cubic metres (mcm) and demand expected to be 217.4mcm/day, Britain’s gas system was 18.6mcm under-supplied, National ... Read More »

Armenia exports and imports up by 22% and 18.5%

WASHIGTON:  Armenia’s foreign trade turnover amounted to around $1.67 billion in January-April 2016, rising by 19.4% against the same period last year, the country’s National Statistical Service reports. The exports totaled $512 million in the reporting period, up by 21.7 % against the same period in 2015, while imports amounted to $1.15 billion, increasing by 18.4%. The negative balance of ... Read More »

China central bank pumps 20b yuan into market

BEIJING: China’s central bank on Friday pumped 20 billion yuan (US$3.06 billion) into the market to preserve liquidity. The People’s Bank of China (PBOC) put 50 billion yuan into seven-day reverse repos priced to yield 2.25 percent. Reverse repos worth 30 billion yuan mature on Friday, so the central bank has effectively injected 20 billion yuan into the market. On ... Read More »

Russia not planning to completely ban agricultural imports from turkey

MOSCOW: Head of Russia’s agricultural watchdog Rosselkhoznadzor said that Russia is not planning to introduce a full ban on the import of agricultural products from Turkey. Russia is not planning to introduce a full ban on the import of agricultural products from Turkey, head of Russia’s agricultural watchdog Rosselkhoznadzor Sergei Dankvert said Wednesday. “No, they are constructively set to work, ... Read More »

Panel: Global Partnerships Key to Advancing Science and Technology Research

NATIONAL HARBOR: Collaboration between the United States and its partner nations will be key to developing emerging technologies, said a panel of naval science and technology officials from around the globe May 16. In order to crack the tough technological nuts of the future, nations will have to work together and share their knowledge, panelists said at the Navy League’s ... Read More »

Stock Markets Fall across China

BEIJING: Stocks in China were down sharply Wednesday, with losses spreading across most of Asia, as investors worried about the nation’s tighter grip on its markets, which added to concerns about higher U.S. interest rates. The Shenzhen Composite Index finished the day 2.7% lower, falling from the morning, after high-ranking Chinese official Zhang Dejiang failed to mention the launch of ... Read More »

Iran exporting medical equipment to 40 countries

TEHRAN: The head of Iranian Syndicate of Medical Equipment Exporters (ISOMEE) has said Iran exports medical equipment and products to 40 world countries. Mohammadreza Kompani who was speaking during the 19th edition of International Exhibition for Medical, Dental, Laboratory Equipment, Pharmaceutical Products and Healthcare Services (Iran Health) underway in Tehran International Permanent Fairground, May 15-18, said that exports of medical ... Read More »

Oil prices rise as Goldman Sachs says market is now in deficit

Oil futures rallied Monday as Goldman Sachs said that the market is now in a supply shortfall, boosting a sector that has suffered from a severe glut for almost two years. June West Texas Intermediate crude CLM6, +2.90%  added $1.27, or 2.8%, to $47.48 a barrel on the New York Mercantile Exchange, with futures prices poised for their highest settlement ... Read More »

Poster breaks record

BERN: Campaigners for a minimum income in Switzerland on Saturday set a Guinness record for the world’s largest poster, as they sought support for the controversial proposal ahead of a referendum next month. The record-breaking 8,115m2 poster consisted of a series of massive black plastic sheets, with the words “What would you do if your income was taken care of?” ... Read More »

Irish economy suffers loss of EUR788m due to illicit trade

DUBLIN: Illicit trade costs the Irish economy an estimated EUR788m (USD897.6m) in lost tax revenues every year, according to research by professional services firm Grant Thornton. Releasing “Illicit Trade 2015-2016: Implications for the Irish economy,” Brendan Foster, Partner at Grant Thornton, said: “The level of illicit activity reported is quite remarkable. While we welcome the increased efforts to improve legislation ... Read More »

Study finds low levels of ultraviolet a light protection in automobile side windows

WASHINGTON: An analysis of the ultraviolet A (UV-A) light protection in the front windshields and side windows of automobiles finds that protection was consistently high in the front windshields while lower and highly variable in side windows, findings that may in part explain the reported increased rates of cataract in left eyes and left-sided facial skin cancer. Ultraviolet A is ... Read More »

Turkey gold imports surge 92% in April to 3.2 mt, highest level this year

ANKARA: Imports of gold into Turkey totaled 3.2 mt in April, up 92% from March to reach the highest monthly import level since December, Borsa Istanbul data showed Friday. The total is 54% higher than 2.09 mt a year earlier, data showed. Turkey is the world’s fourth-largest consumer of the metal after China, India and the US. Physical gold demand ... Read More »

CANADA STOCKS-TSX ends flat after hitting 10-day high

TORONTO: Canada’s main stock index ended flat on Thursday, with lower commodity prices weighing on miners, offsetting gains for most major banks and some energy companies trying to restart production after a raging wildfire. Enbridge Inc added 1.9 percent to C$51.69 as it said it was steadily resuming service on its pipeline network through Canada’s energy heartland about a week ... Read More »

Germany boosts Russian gas imports by 19% through April

BERLIN: While Brussels talks about ending Gazpom’s gas monopoly in Europe with the first LNG supplies arriving from the US, the Russian energy company has announced that it’s significantly boosted gas supplies to its biggest Western market – Germany. “It was noted the last year broke the record of supplies from Russia, which grew by 6.6 billion cubic meters (+17.1 ... Read More »

China drives record New Zealand seafood exports

BEIJING: China is driving a boom in New Zealand seafood exports which hit a record 1.71 billion NZ dollars (1.17 billion U.S. dollars) in the year to the end of March, the Seafood New Zealand industry group said Friday. Exports were up 11.4 percent year on year and the strong export growth had accelerated in the first quarter of this ... Read More »