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Author Archives: CT Report

Govt to overcome energy crisis by 2018: Jatoi

MULTAN: Federal Minister for Industries and Production Ghulam Murtaza Khan Jatoi has claimed that the prevailing energy crisis in the country would be overcome by 2018 due to the government’s commitment to resolve all power and gas issues. Talking to the media at airport and after laying foundation stone of a new block at NFC Institute here, he said that ... Read More »

Asif for conserving water, electricity, gas for national security

ISLAMABAD: Federal Minister for Water and Power Khawaja Muhammad Asif Tuesday underlined the need of conservation of water, electricity and gas for national security. Speaking at the prize distribution ceremony of 46th WAPDA Annual Inter Unit Sports competitions here, the minister said water security was a major component of the national security. He said enhancing water storage capacity in the ... Read More »

Agricultural Bank of China profits slightly up in 2015

BEIJING: Agricultural Bank of China, one of the country’s biggest lenders, reported a slight increase in profits as it tried to combat rising bad loans. Net profits increased 0.7 percent year on year to 180.78 billion yuan ($28 billion) in 2015 while total assets rose 11.4 percent to 17.79 trillion yuan, according to the company’s annual report. The bad loan ... Read More »

Transfar to invest $15b in road network

BEIJING: Chinese private conglomerate Transfar Group will invest 100 billion yuan ($15.44 billion) to set up a national road network by 2022 to improve the country’s logistics efficiency, its chairman told China Daily. “In five to six years, we will build a national road network covering 170 cities to serve corporate clients and ensure that goods and materials are transported ... Read More »

BP, CNPC ink shale gas agreement

BEIJING: British Petroleum Group (BP) and China National Petroleum Corporation (CNPC) signed a production sharing contract (PSC) for shale gas exploration, development and production in China last week. The contract is BP’s first shale gas PSC in China. It covers an area of about 1,500 square kilometers in the Neijiang-Dazu block in Sichuan Basin in the central western region of ... Read More »

British commercial vehicles exports rise 33% in 2015

LONDON: Exports of British-built commercial vehicles (CVs) jumped by more than a third last year, with almost nine in 10 destined for EU countries, according to the Society of Motor Manufacturers and Traders (SMMT). Britain exported 47,052  of the 94,479 CVs it made in 2015 – up 34.7% year on year, and accounting for half (49.8%) of overall production. Of ... Read More »

Pak rupee weakens against dollar

KARACHI: The Pakistan rupee Tuesday weakened against the US dollar in open market and remained unchanged in interbank. According to the local money market, the greenback added five paisas in open market for selling at 105.80 and remained firm in interbank at 104.50. On Monday, the US currency gained five paisas for selling at 105.75 and remained unchanged in interbank ... Read More »

G20 suggested to focus on SME access to global trade

BEIJING: Shi Dongwei, vice-president of Alibaba Group Holding Ltd, has urged that more global trading information be made available online to Chinese small- and medium-sized enterprises, as they strive to expand overseas. Speaking at the G20 Trade and Investment Working Group meeting in Nanjing, Jiangsu province, on Monday, Shi said 60 percent of the SMEs using Alibaba’s trading platforms still ... Read More »

Japan’s liquor exports hit another record in 2015

TOKYO: Japan’s liquor exports reached an all-time high for a fourth straight year in 2015 as whiskey and sake produced in the country gained more popularity overseas. Liquor exports jumped 33% from 2014 to 39 billion yen ($350 million) last year, according to the National Tax Agency. The figure has more than tripled in the last decade. Sake exports rose 21.8% ... Read More »

Eurozone unemployment hits lowest since August 2011

BRUSSELS: The eurozone seasonally-adjusted unemployment rate in February hit the lowest level since August 2011 at 10.3 percent, the statistical office of the European Union (EU), Eurostat, said on Monday. The rate was down from 10.4 percent in January 2016, and from 11.2 percent in February 2015. In the wider 28-nation EU, the unemployment rate was 8.9 percent in February, ... Read More »

Korea’s national debt up 53.5 tln won in 2015

SEOUL: Korea’s national debt rose by 53.5 trillion won ($46.7 billion) in 2015 from a year earlier as the government managed an expansionary fiscal policy to pump-prime the sluggish economy, the finance ministry said Tuesday. The national debt that covers the central government’s general and special accounts and funds reached 556.5 trillion won last year, up from 503 trillion won ... Read More »

Drug pushing suspect nabbed in Digos City; P53K shabu seized

DIGOS CITY: Police authorities here on Tuesday announced the arrest of another suspected drug pusher and seizure of some P53,000 worth of illegal drugs during a raid in Barangay Zone II. Chief Insp. Teody Condesa, head of the Criminal Investigation and Detection Group in Davao del Sur, said the suspect — Bryan Bentoy, 29 — was arrested following a buy-bust ... Read More »

Overseas ministry to send one million workers abroad

ISLAMABAD: Ministry of Overseas Pakistanis and Human Resource Department is determined to achieve the set target of sending one million workers to different countries for employment purpose this year. This was stated by Secretary Ministry of Overseas Pakistanis and Human Resource Department Khizar Hayat Khan on Tuesday. Talking to APP in an interview, he said the ministry sent 946,000 persons ... Read More »

Messi denies tax evasion in Panama Papers scandal

BARCELONA: The family of Lionel Messi denied on Monday that he was involved in tax evasion after the Barcelona star emerged as one of many personalities accused of shady offshore dealings in the Panama Papers scandal. “The Messi family wants to make clear that Lionel Messi has not carried out any of the acts attributed to him, and accusations he ... Read More »

Canada tells tax collectors to get hold of Panama Papers info

OTTAWA: Canada’s tax collectors want to get their hands on the so-called Panama Papers, a vast collection of documents that lays bare details of offshore accounts and tax shelters. Hours after media outlets around the globe — including the Toronto Star — went public with the internal records of a Panamanian law firm that specializes in hiding money in tax ... Read More »

Thailand’s Global Power to develop $89m solar project in Japan

BANGKOK: Thailand’s Global Power Synergy Pcl (GPSC) said on Monday it will develop a 20.8-megawatt (MW) solar project with a budget of 3.15 billion baht ($89 million) in the northern Japan city of Ichinoseki, its first renewable investment in the country. GPSC, the flagship power business of top Thai energy firm PTT Pcl, said in a statement that it continues ... Read More »

Indonesia fruit exports face challenges

JAKARTA: Indonesia is a major market for Chinese exports of apples and pears, and fresh pear exports accounted for 23% of fruits exported to Indonesian, while apple accounted for 7%. However, according to the No. 4 regulations published by the Indonesian Ministry of Agriculture in 2015, strict entry barriers and complex entry procedures are established for fresh products with plant ... Read More »

Red whine: Moaning French winemakers empty a Spanish tanker full of plonk all over the road in protest over imports

PARIS: Flicking open a tap on a Spanish lorry, a French winemaker lets red wine gush onto a motorway as the trade war between producers in the two countries intensifies. French producers are furious that their traditional rivals in Spain – and also Italy – are exporting hundreds of millions of litres of cut-price wine that threaten their livelihoods. Dozens ... Read More »

Faisalabad to generate electricity from waste

FAISALABAD: The Faisalabad Waste Management Company (FWMC) will soon introduce the techniques of generating energy from waste material in the city. FWMC spokesperson Aiza Butt said here on Tuesday that Faisalabad was producing huge quantity of waste on daily basis and the FWMC was removing it to far-flung area. Now, the FWMC had decided to bring the waste under use ... Read More »

Iron-ore exports from Australia’s Port Hedland increases 7.9%

SYDNEY: Iron-ore exports from Australia’s Port Hedland increased by 7.9% on-month in March, according to the latest data from the local port authority. Cargoes of iron ore leaving Port Hedland, the world’s largest iron-ore shipping hub, totaled 39.5 million metric tons last month, versus 36.6 million in February, Pilbara Ports Authority said in a monthly report. Shipments destined for China, ... Read More »