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Inogen revenues increase 40% in 2015

WASHINGTON: Inogen revenues increased about 40 percent during the fourth quarter and 2015 fiscal year because of strong business-to-business sales, the company said when it released fourth quarter and annual earnings results Mach 14. Inogen, a Goleta-based maker of direct-to-consumer respiratory products, said fourth quarter revenues increased 38.9 percent from $29.1 million in 2014 to $40.4 million in 2015. Net ... Read More »

Ukraine to increase exports of soybean meal in 2015/16

KIEV: Despite unsufficient demand on Ukrainian soybean meal/cake both on domestic and global markets, APK-Inform forecasts Ukraine to increase products output by 25% to 953 thsd tonnes in 2015/16 MY. Soybean meal/cake exports can reach record 370 thsd tonnes in 2015/16 MY, up 1.7 times on year. High carry-over stocks of soybean and by-products led to low demand on Ukrainian ... Read More »

Diesel shortage hits development projects

KATHMANDU: Shortage of the diesel continues to hit development projects. Though it has already been a month since border blockade was lifted, development projects are still facing fuel shortage, which, according to officials, has forced them to operate at low capacity. This has slowed government spending which will ultimately hit national economy. Ghanashyam Bhattarai, executive director of Melamchi Water Supply Project, ... Read More »

Himalayan Bank acquires 20% stake in SCT

KATHAMNDU: Himalayan Bank Ltd on Monday acquired 20 percent stake in Smart Choice Technology (SCT) Pvt Ltd. SCT provides integrated shared services network for ATMs and Point of Sale (PoS) terminals of various banks and financial institutions (BFIs). Himalayan Bank is the settlement bank of SCT Network for all transactions made through ATMs and POS terminals in Nepal. Issuing a ... Read More »

EVN signs deal on Vinh Tan 4 plant expansion

DA NANG: Electricity of Việt Nam (EVN) and a contractor consortium have signed an engineering, procurement and construction (EPC) contract for the Vinh Tan 4 plant expansion. The consortium comprises Doosan Heavy Industries and Construction (Korea), Mitsubishi Corporation (Japan), Power Engineering Consulting Joint Stock Company 2 (PECC2, Việt Nam) and Pacific Corporation (PAC, Việt Nam). A source from EVN said ... Read More »

Polish fruit, vegetables exports drop 10% last year

WARSAW: Last year saw a 10 percent drop in Polish fruit exports compared with 2014, and a 19 percent fall in exports of vegetables. Analysts have argued that the key factor is a Russian embargo that was introduced in August 2014. According to the Foundation of Assistance Programmes for Agriculture, Poland exported just short of 680,000 tonnes of fresh vegetables ... Read More »

Portugal leads slide in bonds of Europe’s lower-rated countries

LISBON: Portuguese bonds led a decline in the debt of Europe’s lower-rated nations, underperforming their German counterparts for the first time in five days as a slump in stocks reduced demand for higher-yielding assets. Spanish securities also fell amid the political turmoil facing the country. The bonds of the euro zone’s so-called peripheral members had been rallying since the European ... Read More »

India’s polished diamond exports increase 1.9% in Feb

NEW DELHI: India’s polished diamond exports increased 1.9 percent year on year to $2.34 billion in February, according to provisional data provided by the nation’s Gem & Jewellery Export Promotion Council. By volume, polished exports increased 8.2 percent to 3.3 million carats. Polished imports dived 45 percent to $222.1 million, leaving net polished exports up 12 percent to $2.12 billion. Rough ... Read More »

India’s vegetable oil imports increase 28% in Feb

NEW DELHI: India’s vegetable imports in February escalated by 28% as inbound shipments of edible oil grew up by a record margin. Last month, India imported 1.11 million tonnes of vegetable oil, comprising of 1.10 million tonnes of edible oils and 16.50 thousand tonnes of non-edible oils, as compared to 868. 17 thousand tonnes imported in February 2015. “The overall ... Read More »

Oman salaries projected to grow in 2016

MUSCAT: Average pay rises in Oman and across the GCC are set to be lower in 2016 than at any time over the past 10 years, despite the rising cost of living caused by cuts in government subsidies, according to the latest research released by online recruitment firm GulfTalent. Stay ahead of the rest and download our free WhatsNews app ... Read More »

Govt collects over Rs 1b revenue from motorway toll plazas

ISLAMABAD: The government collected Rs 1010.841 million (Rs 1.02 billion) revenue from the motorway toll plazas during July to December 2015. The official sources of Communication Ministry said that toll plazas auction process was done in a transparent manner and the revenue generated from it was being spent on roads repairing. The National Highway Authority (NHA) has sufficient funds for ... Read More »

Spain wants to explore more investment opportunities in Pakistan: Envoy

ISLAMABAD: Ambassador of Spain in Pakistan Carlos Morales, while talking to Board of Investment (BoI) Chairman Dr Miftah Ismail on Tuesday, said that trade between the two countries had improved considerably after grant of Generalised System of Preferences (GSP) Plus status to Pakistan. The ambassador said his country was interested to explore more investment opportunities in Pakistan. The BoI chairman ... Read More »

Australia’s Asciano bows to $6.8 bln break-up bid

CANBERRA: Australia’s Asciano Ltd (AIO.AX) on Tuesday agreed to a A$9.1 billion ($6.8 billion) buyout by two global consortia after a seven-month bidding war for the port and rail giant, although doubts persist over anti-trust and foreign ownership issues. In its third takeover endorsement in nine months, Australia’s largest ports and rail operator said it now supported a joint bid ... Read More »

CPEC to change fate of Pakistan: Minister

ISLAMABAD: Minister of State for Parliamentary Affairs Sheikh Aftab has said that China Pakistan Economic Corridor (CPEC) project would change fate of Pakistan as well as the whole region. Talking to a private news channel, he said that it was a vision of Prime Minister Muhammed Nawaz Sharif to link the whole country through a single road. He said the ... Read More »

Four ships carrying palm oil, LPG berth at Port Qasim

KARACHI: Four ships CV Al-Bahia, CV Washington, MT GEW Future and MT Black Pearl-110 carrying containers palm oil and LPG were berthed at Qasim International Container Terminal, Liquid Cargo Terminal and Engro Vopak Terminal respectively. Meanwhile six more ships carrying containers, phospharic acid, furnace oil and LPG also arrive at outer anchorage of Port Qasim during last 24 hours. Berth ... Read More »

Shipping movements report of Karachi Port

KARACHI: Following were the Movements of Ships at Karachi Port Trust (KPT) during the last 24 hours, ending at 0700 hours on Tuesday. SHIPS SAILED: Salamis Cont Dong A Krios Tanker Da Zi Yun G.C APL Agate Cont Kmtc Mumbai Cont kota Karim Cont SHIPS BERTHED: Kota Karim Container Ship Loyal Pegasus Tanker X-Press Kailash Container Ship YM Excellence Container ... Read More »

Wholesale trade sales fall 2.6% in Jan 2016

HELSINKI: Wholesale trade sales went down by 2.6 per cent year-on-year in January 2016 while total trade sales fell by 0.5, according to Statistics Finland. Retail trade sales also declined by 1.2 per cent. In daily consumer goods trade, sales fell by 1.9 per cent while in department store trade sales remained unchanged from the year before. Among the sectors of ... Read More »

Air New Zealand to open new international lounge at Brisbane Airport

WELLINGTON: Air New Zealand is set to unveil its newest international lounge at Brisbane Airport. The 771 square-metre lounge will cater for nearly 200 customers when it opens on Wednesday, Air New Zealand said in a statement. Designed by US-based architecture firm, Gensler, the lounge features lofty ceilings, large windows and views of Brisbane city and into the lower terminal. Spaces ... Read More »

Synnex posts 69% plunge in quarterly profit last quarter

TAIPEI: Synnex Technology International Corp, Asia’s largest distributor of information technology products and electronic components, yesterday reported a 69 percent decline in quarterly net profit for last quarter due to a large foreign exchange loss. Net profit plunged to NT$430 million (US$13.08 million) in the quarter ending Dec. 31 last year, compared with NT$1.39 billion during the same period of ... Read More »

AKRA posts 28% increase in net profit

JAKARTA: Major logistics company PT AKR Corporindo (AKRA) posted over Rp 1.03 trillion in net profit in 2015, up 28 percent from the previous year despite tough business condition. The company also reported significant improvements across all business segments with a gross margin of 11,21 percent, operating margin of 6.83 percent and net margin of 5,23 percent in 2015. Its ... Read More »