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Japan’s exports seen down for six straight months in March

TOKYO: Japan’s exports were expected to fall for a six straight month in March, a Reuters poll found on Friday, suggesting a strong yen and stagnant overseas demand may be delaying economic recovery. Tuesday’s trade data will be one of the key indicators out this month to provide clues to whether the economy managed to avert recession in the first quarter ... Read More »

Pak rupee depreciates by 10 paisas in open market

KARACHI: Pakistani rupee Friday depreciated against the US dollar in open market and remained firm in interbank. As per the local money market, the American currency added 10 paisas in open market for buying at 105.40 and for selling at 105.65. In interbank, the dollar remained unchanged at 104.30 for buying and at 104.50 for selling. On Thursday, the greenback ... Read More »

Azam assumes charge as Karachi Customs I&I deputy director

ISLAMABAD: Muhammad Azam, a Pakistan Customs Service officer of BS-18, has assumed the charge of the post of Deputy Director, Directorate of Intelligence & Investigation, Karachi. Azam, in pursuance of Board’s Notification No. 0643-C-II/2016 dated 07.03.2016, relinquished the charge of the post of Deputy Director, Directorate of Input Output Coefficient Organization (South), Karachi with effect from March 18. Read More »

Iran oil exports jump more than 600K barrels per day

TEHRAN: As per Bloomberg reports, Iranian tanker tracking data shows Iran oil shipments so far this month have jumped to 2.06 million barrels per day (bpd) compared to 1.45 million bpd in March.  Earlier today, Paris-based International Energy Agency (IEA) revised its global oil demand growth forecast. Read More »

Irish haulierIrish hauliers say a Brexit could mark a return to customs controls of the 90s.

DUBLIN: Truck drivers say the UK’s vote on EU membership could have a significant impact on the cost of their business. Approximately 70% of our exports travel to the UK, the majority of which are brought by hauliers. The Irish Road Haulage Association is holding its annual conference in Wexford today, where the possibility of a Brexit is top of ... Read More »

Italian machinery exports to US, Germany rise

ROME: Italian manufacturers of plastics and rubber machinery have made huge gains in key export markets, the U.S. and Germany in particular, during 2015. According to Assocomaplast’s analysis of 2015 ISTAT data on the polymer processing equipment sector, the no. 1 market Germany registered a 14 percent increase in exports. Even better was the performance in the U.S., where Italian exports ... Read More »

Turkish defence exports valued at $1.6 bln in 2015

ANKARA: The Turkish defence sector achieved exports of USD1.66 billion in 2015, the Undersecretariat for Defence Industries (SSM) revealed on 12 April in its annual report on defence industrial activity. The figure – which was against overall defence industrial turnover of USD5 billion – is virtually unchanged from a level of USD1.64 billion in 2014, but is ahead of export ... Read More »

Jahanzeb takes charge as Deputy Collector in Quetta

ISLAMABAD: Jahanzeb Abbasi, a Pakistan Customs Service officer of BS-18, has taken the charge of the post of Deputy Collector, Model Customs Collectorate, Quetta. The officer, pursuing the Board’s Notification No. 0643-C-II/2016 dated 07.03.2016, relinquished the charge of the post of Deputy Collector, Model Customs Collectorate of Preventive, Karachi, with effect from March 14. Read More »

Lubna assumes charge as Dy Collector at Karachi Appraisement (West)

ISLAMABAD: Lubna Shamshad, a Pakistan Customs Service officer of BS-18, has assumed the charge of the post of Deputy Collector, Model Customs Collectorate of Appraisement (West), Karachi. The officer, in pursuance of Board’s Notification No. 0643-C-II/2016 dated 07.03.2016, relinquished the charge of the post of Deputy Director, Directorate General of Post Clearance Audit, Islamabad with effect from March 11. Read More »

Two Customs Superintendents to retire

ISLAMABAD: Two Pakistan Customs Superintendents (BS-17) are going to retire from the government service on attaining the age of superannuation. Shamsual Hasnain Malik, presently posted at Regional Tax Office, Karachi, will retire from the government service with effect from June 30. Muhammad Saifullah Khan, presently posted at Directorate of Internal Audit Customs, Karachi, will stand retired with effect from July ... Read More »

Customs inspector Karamat retires

  ISLAMABAD: Karamat Ullah, a Pakistan Customs Service officer of BS-16, has retired from the government service on attaining the age of superannuation. The officer, last posted as Inspector at Model Customs Collectorate, Peshawar, stood retired from the government service with effect from April 11. Read More »

Zambia lifts ban on maize exports

WASHINGTON: Zambia has lifted the ban it imposed last week on the export of maize after a physical verification exercise showed it had enough stock to last until August, a government official has said. Reuters news agency reports that Zambia’s agriculture permanent secretary Julius Shawa said in a statement the country has 600,433 tonnes of maize enough to last until August. ... Read More »

Ethiopia earns $123 mln in electricity exports in 2015-2016

WASHINGTON: Ethiopia is slowly but surely establishing itself as a major power hub in Africa through its electricity exports. The Ethiopian Electric Service has said that the country made about $123 million (2.6 billion birr) between 2015 and 2016 budget year from the sale of electricity both locally and abroad. During a parliamentary session recently, the water, irrigation and electricity ... Read More »

Japan’s JX boosts gasoline exports due to strong car sales, low prices

TOKYO: Japan’s biggest oil refiner JX Holdings is adapting refineries to produce more gasoline for sales overseas, as Japan joins a regional bonanza driven by strong car sales and low prices and finds an outlet for its chronic refining over capacity. JX’s main refining unit started gasoline exports this month from Mizushima-A refinery in Okayama prefecture in western Japan after ... Read More »

IT exports to cross $5b mark by 2020: Anusha

  ISLAMABAD: The government has decided to increase IT exports to more than $5 billion dollar by year 2020. This was stated by Minister for IT & Telecom Anusha Rahman, while addressing the participants of a seminar, jointly organised by the Punjab School Education Board (PSEB) and Ministry of IT. The seminar was attended by CEO’s of around 200 IT ... Read More »

Kazakhstan increases linseed exports

WASHINGTON: In February linseed exports from Kazakhstan reached 21.02 KMT compared to 15.6 KMT in January and 20.8 KMT in February 2015. Since the beginning of season 2015/16 Kazakhstan exported record high volume of linseed – 161.5 KMT, or nearly 33% of total production (491 KMT). For instance, during the same period last season Kazakhstan supplied only 110 KMT of ... Read More »

Vietnam’s H1 2016 rice exports may rise 12% from year ago

HANOI: Vietnam could export more than 3 million tonnes of rice in the first half of 2016, up 12 percent from a year ago, on rising demand from China and other Southeast Asian nations amid supply concerns caused by drought, the government said on Friday. Rice shipments in the three months ending June are projected at 1.6 million tonnes, including ... Read More »

Solid prospects in Thailand’s insurance sector

BANGKOK: Strong potential for growth in Thailand’s insurance sector stems from low rates of insurance penetration, which is 4.1% for life insurance and 1.7% for non-life insurance, according to the Thai General Insurance Association (TGIA). Penetration rates have stayed low, even though the market has a relatively high number of players; some 57 insurers operate in the non-life segment, 90% ... Read More »

Saudi Kayan Q1 net loss narrows on higher production, sales

RIYADH: The company, an affiliate of Saudi Basic Industries Corp (Sabic), made a net loss of SR216.3 million ($57.7 million) in the three months to March 31, it said in a bourse statement. This compares with a loss of SR591.6 million ($157.7 million) in the same period of 2015. The average estimate of three analysts polled by Reuters was for ... Read More »

Iran ends free oil shipping to India

TEHRAN: Iran, no longer under sanctions, has ended free shipping of crude oil to India and has terminated a three-year old system of getting paid for half of the oil dues in rupees. The Persian Gulf nation is now insisting on being paid in Euros for the oil it sells to Indian refiners. It also wants refiners like Essar Oil ... Read More »