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Portugal consumer confidence rises in Feb

LISBON: The level of consumer confidence prevailing in Portugal rose in February, extending a rising trend stretching back to early 2013, according to data from the National Institute of Statistics (INE). The consumer confidence index, calculated through citizen surveys, rose to stand at -11.3 points, an improvement on the -12.6 points returned in January with the INE stating this “prolonged ... Read More »

Business Council of Australia releases tax policy

CANBERRA: The rejection of an increase in the GST by all major political parties should not bring a halt to tax reform, according to the Business Council of Australia, which has argued for a phased approach that would begin with personal and corporate income tax cuts and postpone further consideration of lifting the GST for a decade. The BCA’s tax ... Read More »

Finland rents of residential house increase 3% in 2015

HELSINKI: Rents of residential dwellings increased by an average of 3.0 per cent in 2015 from the year before, according to Statistics Finland. Rents of non-subsidised rental dwellings increased as well in the whole country, by an average of 3.6 per cent. The rents of non-subsidised rental dwellings went up by 4.0 per cent in Greater Helsinki and by 3.3 ... Read More »

Ukraine’s Interpipe registers trademark in UAE

KIEV: Ukraine-based steel pipe producer Interpipe has officially registered its trademark with the Ministry of Economy UAE for the first time. The company says it is committed to fighting against the emergence of a counterfeit steel pipe industry in the country. Interpipe has supplied steel to the UAE market for more than 10 years and a leading the region accounts ... Read More »

Vietnam’s cashew exports expected to stay stable

HCM CITY: Cashew nut exports this year are expected to reach last year’s figure or slightly increase, according to the Viet Nam Cashew Association (Vinacas). In the first two months of the year, enterprises exported 37,000 tonnes of cashew nut worth US$278 million, a year-on-year rise of 5.3 per cent in volume and 11 per cent in value. Speaking at a ... Read More »

New Zealand shares rise 0.4%

WELLINGTON: The New Zealand equities market ended higher on Tuesday, with the benchmark NZX-50 index gaining 0.4% to 6446.73. Fonterra Shareholders’ Fund (FSF.NZ), the listed arm of Fonterra Cooperative, rose 0.5% to NZ$5.90 after the dairy cooperative cut its farmgate milk price forecast for the current season to NZ$3.90 per kilogram of milk solids from previous forecasts of NZ$4.15. Michael ... Read More »

Italy’s Atlantia may sell stake in motorway to support foreign growth

ROME: Italian airport and motorway operator Atlantia (ATL.MI) may sell a stake in its Autostrade per l’Italia unit as a way to support growth abroad, Atlantia Chief Executive Giovanni Castellucci said on Monday. To increase its exposure to the global economy, the group wants to expand its aviation business, Castellucci said, adding Atlantia was looking at the privatization of the ... Read More »

Zimbabwe earns $208 mln from tobacco exports

HARARE: Zimbabwe has earned $208 million from 32 million kilogrammes of flue-cured tobacco exported in the past two months, the Tobacco Industry and Marketing Board (TIMB) has said. TIMB statistics show that exports increased by 9 percent from $203 million in the corresponding period last year to $209 million this season. The country exported 29 million kg last year. China ... Read More »

Iran to resume oil exports to pre-sanction level

TEHRAN: Iran has said that it is aiming to restore oil exports to level that existed prior to western sanctions. Iranian President Hassan Rouhani made the comment during a televised address on Sunday. Iran exported more than 2.6 million barrels of crude oil a day in 2011 before the sanctions. The sanctions then cut the country’s exports to around 1 ... Read More »

Jordan’s exports of clothes rise 8.7 % in 2015

AMMAN: The Kingdom’s exports of clothes in 2015 increased by 8.7 per cent, registering JD1.11 billion, compared to JD1.02 billion in 2014, Adel Tawileh, representative of the leather and textile industries at the Jordan Chamber of Industry, said on Monday. He added the US market received 90 per cent of these products, under the free trade agreement signed between Jordan and ... Read More »

Mexico exports over 23,000 tons of lemon

MEXICO CITY: Even though there were some sporadic sales during January and February 2016, Mexico sold 23,500 tons of lemon to the US market, especially in Texas, during the Italian lemon export that officially ended on December 15, 2015. These shipments were certified by official personnel from the Secretariat of Agriculture, Livestock, Rural Development, Fisheries and Food (SAGARPA), said Eduardo ... Read More »

Japan bank lending rises 2.2% in Feb

TOKYO: The total value of overall bank lending in Japan was up 2.2% on year in February, the Bank of Japan said on Tuesday – coming in at 496.957 trillion yen. That follows the upwardly revised 2.4% increase in January (originally 2.3%). Excluding trusts, bank lending was up an annual 2.2% to 432.182 trillion yen after rising a downwardly revised ... Read More »

Turkey’s automotive export increases 17%

ANKARA: Exports of automobiles from Turkey increased by 17 percent in February, the country’s Automotive Industry Exporters’ Union said on Monday. Turkey’s automotive exports increased to nearly $2 billion in February compared to $1.7 billion in the same month of 2015. The union said that the export value in the month was the highest since 2008. “The country’s automobiles exports to ... Read More »

India’s soyabean meal exports fall 98% in Feb

NEW DELHI: India’s soyameal exports touched an all-time low of 1,127 tonnes last month on account of higher bean prices in the domestic market.  The exports during the April-February period of the current fiscal declined 88.26 per cent to 70,392 tonnes compared with 5.99 lakh tonnes in the same period last year. “Soyameal exports have continued to decline from last ... Read More »

Snapchat targeting $300-350m revenue in 2016, up from $50m in 2015

CALIFORNIA: Messaging app maker Snapchat, Inc. may have finally turned the business around to the point it’s making decent money, at least according to one report Monday. Re/Code quotes multiple sources familiar with the company’s plans as saying they are targeting between $300 million and $350 million in revenue in 2016, up from $50 million in revenue in 2015 and ... Read More »

Brazil corn exports increase 388% in Feb

BRASÍLIA: In February, Brazil recorded corn exports of 5.37 million tons. According to data from the Ministry of Development, Industry and Foreign Trade, this is almost five times higher than exports for February 2015, which stood at 1.10 million tons. These exports produced revenue of $892.2 million, compared with $206.4 million in February last year. According to Lucilio Alves, a ... Read More »

Paddy Power 2015 profit grows on 24% revenue rise

LONDON: Paddy Power Betfair PLC (PPB.LN) Tuesday posted a rise in 2015 earnings as it benefited from growth across all its Online and Retail divisions and said it is well placed to drive future profitable growth. For the year ended Dec. 31, Paddy Power–excluding the effect of merger–recorded pretax profit of 169.5 million euros ($186.5 million) up from EUR166.6 million ... Read More »

Bangladesh’s export earnings grow 14% in Feb

DHAKA: Bangladesh’s export earnings grew by 14 percent in February, thanks to garments. The growth was 10.41 percent in January. In the first eight months (July-February) of the 2015-16 fiscal year, the export earnings rose by around 9 percent, over 2.35 percent more than the target. Finance Minister AMA Muhith and garment traders’ organisation BGMEA chief Siddiqur Rahman hoped the ... Read More »

Customs posts P11.22-B shortfall in February

MANILA: The Bureau of Customs (BOC) reported on Tuesday, March 8, that it collected P26.82 billion ($571.58 million) in February, way below its P38.01-billion ($810.25 million) target for the month. It was said to be the first time that all ports in the country failed to meet their target in the same month. The government’s second largest revenue collection agency ... Read More »

Australian fruit exports growing

CANBERRA: A recently released report in Australia shows that the future for fruit exports is looking positive; exports are expected to increase from $821 million in 2015–16 to around $900 million by 2020–21. The Australian Bureau of Agricultural and Resource Economics and Sciences (ABARES)’s Outlook 2016 agricultural commodities report states that between 2010–11 and 2014–15 the total value of fruit ... Read More »