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Vietnam GDP grows by 5.46% in Q1

HANOI: Việt Nam’s gross domestic product (GDP) grew by 5.46 per cent in the first quarter, slower than the 6.12 per cent during the same period last year, the General Statistics Office (GSO) announced this week. There were signs of GDP stagnation although Q1 is the first quarter to implement the socio-economic development plan for 2016-2020. Vietnam Television asked the ... Read More »

Vietnam insurance value hits $524 bln

HANOI:  The insurance market saw total insured value reach VNĐ11.7 quadrillion (US$524 billion) from 2011-15, said Phùng Ngọc Khánh, head of the Finance Ministry’s Insurance Supervisory Authority (ISA) during a press conference in Ha Noi on Tuesday. Of the sum, VNĐ10 quadrillion was paid by enterprises from different sectors, while VNĐ1 quadrillion was recorded in the life insurance sector and ... Read More »

Modassar holds office of Karachi Customs T&R as deputy director

ISLAMABAD: Modassar Ahmad Tirmizi, a Pakistan Customs Service officer of BS-18, has assumed the charge of the post of Deputy Director, Directorate General of Training & Research (Customs), 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 of Intelligence & Investigation-FBR, Gwadar with effect from March 14. Read More »

Junaid takes charge as Deputy Director of IPR Enforcement

ISLAMABAD: Junaid Usman Akram, a Pakistan Customs Service officer of BS-18, has assumed the charge of the post of Deputy Director, Directorate General of IPR Enforcement, Islamabad. The officer, in pursuance of Board’s Notification No. 0643-C-II/2016 dated 07.03.2016, relinquished the charge of the post of Second Secretary, Federal Board of Revenue (HQ), Islamabad with effect from March 10. Read More »

New Zealand shares rise, posts 6.2% quarterly gain

WELLINGTON: New Zealand shares rose, pushing the NZX 50 Index to a fresh record and rounding out a 6.2 percent quarterly gain. Orion Health Group, Xero and Fletcher Building gained. The S&P/NZX gained 38.26 points, or 0.6 percent, to 6,752.42. Within the index, 33 shares rose, 14 fell and three were unchanged. Turnover was $186.7 million. The index has grown ... Read More »

Performance allowance of Dy Commissioner-IR Atif restored

ISLAMABAD: Performance allowance in respect of Atif Bashir, a BS-18 officer of Inland Revenue Service, has been restored. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the officer, presently posted as Deputy Commissioner-IR, Regional Tax Office-II, Lahore, has been restored with effect from March 29. According to the notification, the grant of performance allowance ... Read More »

Pak rupee strengthens in open market, weakens in interbank

KARACHI: The Pakistan rupee Thursday witnessed mix trading as it gained value against the US dollar in open market, but weakened in interbank. According to the local money market, the greenback lost 10 paisas in the cash-free market for selling at 105.70 and gained 30 paisas in interbank for selling at 104.80. On Wednesday, the US currency gained five paisas ... Read More »

Dy Commissioner-IR Salman’s performance allowance restored

ISLAMABAD: Performance allowance in respect of Salman Ahmad Khan, a BS-18 officer of Inland Revenue Service, has been restored. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the officer, presently posted as Deputy Commissioner-IR, Regional Tax Office, Lahore, has been restored with effect from November 10, 2015. Read More »

Kenya mango exports rise in 2015/2016

NAIROBI: Kenya registered a significant increase in mango production across the 2015/2016 season compared to the previous season, witnessing an increase of 27% on season-to-season basis. Mangos From Kenya reported 30% jump in exports, largely attributed to their intense continuous training that guides farmers to plant and maintain mangoes professionally in order to meet stringent quality standards at the destination ... Read More »

Turkish exports rise first time in 4 months

ANKARA: Turkey’s trade gap shrank in February from a year earlier as exports rose for the first time since October. The shortfall narrowed to $3.17 billion from $4.7 billion in February 2015, compared with the median estimate of $3.2 billion in a Bloomberg survey. Imports dropped 8.1 percent to $15.6 billion, while exports rose 1.4 percent to $12.4 billion, Turkey’s ... Read More »

Thailand’s economic recovery still slow

BANGKOK: Thailand’s economic conditions had a slow pace of recovery in February, with growth mostly driven by tourism and public spending, the Bank of Thailand said Thursday. According to the central bank’s monthly report, Thailand’s private consumption index rose 3.1% from a year earlier and 0.3% from a month earlier in February. In a statement, the central bank said consumption ... Read More »

S. Korea’s industrial output rebounds in Feb

SEJONG: South Korea’s industrial output rebounded in February to snap a three-month losing streak on a rise in the chip and chemicals sectors, a government report showed Thursday. Production in the mining, manufacturing, gas and electricity industries gained 2.4 percent last month from a year earlier, according to the report by Statistics Korea. Compared with a month earlier, industrial output also ... Read More »

Saudi index rise 0.6% to 6,216 points

JEDDAH: GCC stock markets were mixed on Wednesday as money flowed into bourses in the United Arab Emirates but many markets dropped in shrinking volumes, suggesting some investors were pulling out. The Saudi index rose 0.6 percent to 6,216 points, but falling trading volume indicated that after the bourse jumped earlier this month in response to the rebound of oil ... Read More »

India seeks $500m loan for solar projects

NEW DELHI: India hopes to receive one of the first loans issued by the China-led Asian Infrastructure Investment Bank (AIIB) later this year, as it looks to raise $500m for solar power projects from the newly created lender, Indian officials said. Funding for clean energy projects would allay fears of environmental lobbyists that the bank’s relaxed lending criteria could promote ... Read More »

Asia’s Feb imports of Iran oil hit 2-year high

TEHRAN: Asian imports of Iranian oil jumped nearly a quarter from a year earlier to a two-year high in February, as shipments into India and South Korea roughly doubled weeks after international sanctions were lifted on Tehran’s disputed nuclear programme. International oil and shipping companies have been eager torenew business with Iran since sanctions related to its nuclear programme were ... Read More »

Japan Feb crude oil imports by source

TOKYO: Following is a table of oil statistics for February released by Japan’s Ministry of Economy, Trade and Industry (METI) on Thursday. Japan’s crude oil imports in February fell 1.9 percent from a year earlier to 15.96 million kilolitres (3.46 million barrels per day), the data showed. Following is a table of crude imports by source. Units are in kilolitres, ... Read More »

Brazil imports record corn, sells stocks to contain prices

SAO PAULO: To ease near record prices for corn, Brazil’s government on Wednesday announced it would sell public stocks and proposed dropping import taxes for the grain, while the livestock industry said it booked imports of 500,000 metric tons through May. The Agriculture Ministry’s coordinator of grains, Silvio Farnese, said a total of 160,000 metric tons of corn from government ... Read More »

Govt likely to increase petrol price by Rs 3.09/litre

ISLAMABAD: After giving massive cut in petroleum prices, the government is likely to increase POL rates by 13 per cent on recommendation of the Oil and Gas Regulatory Authority (Ogra) from April 1. According to the summary forwarded to the Ministry of Petroleum and Natural Resources, Ogra recommended Rs 3.09 per litre increase in the price of petrol, Rs 1.40 ... Read More »

Textile millers ask govt to levy 15% duty on man-made fibres import

LAHORE: The textile millers have asked the government to impose 15 per cent regulatory duty on the import of man-made fibres, particularly the polyester viscos yarn, polyester cotton yarn and pure polyester yarn. All Pakistan Textile Mills Association (APTMA) Chairman Tariq Saud raised this demand while speaking at a meeting of the member mills, held at the Punjab office of ... Read More »

South Africans urges to stop relying on imports

JOHANNESBURG: Deputy President Cyril Ramaphosa has urged South Africans to stop relying on imports and buy more locally manufactured products, to help support job creation. He also says local producers should ensure the highest quality of their products so that they are internationally competitive. Ramaphosa was speaking in Sandton yesterday where dozens of small business owners, buyers and possible investors, ... Read More »