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Author Archives: CT Report

Govt striving to create conducive environment for business, investment activities: Baligh

ISLAMABAD: Muhammad Baligh ur Rehman, State Minister for Federal Education and Professional Trainings said that businessmen were highly respectable segment of the society as they were creating jobs, improving prosperity and playing key role in economic development of the country and government was making strenuous efforts for creating a conducive environment to facilitate the growth of business and investment activities. ... Read More »

Sales tax revenues down 35% from 2015

WASHINGTON: Nothing has changed much with the county’s monthly tax allocations from the office of Texas Comptroller Glenn Hegar as of late. The state’s decline in the energy sector continues to be felt here on the local level. Gonzales County has seen sales tax revenues decrease 35.41 percent from this time last year. Purchases made at county businesses in January ... Read More »

NBU declares bank Petro commerce-Ukraine insolvent

KIEV: The National Bank of Ukraine (NBU) has placed bank Petrocommerce-Ukraine on the list of insolvent banks. The decision is outlined in NBU resolution No. 169 of March 17, 2016. The bank earlier was put to the list of troubled banks due to having the non-transparent ownership structure. In March 2015, a shareholder in the bank – Russia’s Petrocommerce – ... Read More »

Finland households saving rate negative in Q4 of 2015

HELSINKI: The saving rate of the household sector was negative in the fourth quarter of 2015, but it improved compared to the third quarter. Adjusted disposable income describing households’ economic well-being grew year-on-year. The profit share of the non-financial corporation sector weakened compared with the previous quarter but the investment rate grew clearly, according to Statistics Finland’ data derived from ... Read More »

Inflation increases by 0.17% to 214.61pts

ISLAMABAD: The Sensitive Price Indicator (SPI) inflation for the combined income group increased by 0.17 percent for the week ended March 17 According to data of Pakistan Bureau of Statistics (PBS), the SPI for the week under review in the mentioned group was recorded at 214.61 points against 214.24 points registered in the previous week. Similarly, as compared to the ... Read More »

Fall in oil price, recession affect Pakistan’s exports: Dastgir

ISLAMABAD: Decreasing oil prices and recession in the international market have also affected Pakistan’s export. Federal Minister for Commerce Khurram Dastgir Khan said this during the question hour session in the National Assembly. He said that decline in exports was due to decrease in prices of raw material and demand from importer countries. This year Pakistan had exported 1,210 million ... Read More »

Canada’s annual inflation rate fell to 1.4% in Feb

OTTAWA: Canada’s CPI rose by 0.2% on a month-over-month basis (not seasonally adjusted) in February 2016, thereby matching the increase recorded in January; however, the latest month’s increase compared with an energy-driven 0.9% jump in February 2015, and thus, the year-over-year rate of inflation slipped to 1.4% from 2.0% in January. Market expectations had been for a stronger 0.4% monthly ... Read More »

Pakistan, Turkey to sign FTA next week

ANKARA: Pakistan and Turkey will sign a free trade agreement framework on Tuesday to tap the massive potential of bolstering trade between the two countries, Turkish Ambassador to Pakistan Sadik Babur Girgin said on Friday. Turkish Economy Minister will visit Islamabad to sign the agreement between the two countries, which have very close cooperation in diverse fields, including defence and ... Read More »

Utility Stores earned Rs35b profit

ISLAMABAD: The Utility Store Corporation (USC) network has earned Rs 35 billion profit in fiscal year 2014-15. This was revealed by Parliamentary Secretary for Industries and Production Rao Ajmal, while responding to a Calling Attention Notice raised by Abdul Sattar Bachani and others in the National Assembly regarding non-provision of subsidy on the essential commodities at the utility stores that ... Read More »

Brazil launches revolutionary plan to float solar panels at hydroelectric dam

BRASÍLIA: Brazil has decided to place thousands of floating solar panels on a reservoir that was created by one of the country’s most notorious dams. The renewable power project, which is located deep in the Amazon rainforest, could eventually generate enough electricity to power hundreds of thousands of homes. It’s technology could be replicated in other parts of the world with ... Read More »

Pakistan, Turkey to sign FTA next week: Turkish envoy

ISLAMABAD: Turkish Ambassador to Pakistan Sadik Babur Girgin has said that Pakistan and Turkey will sign a free-trade agreement (FTA) framework on Tuesday Turkish Economy Minister will visit Islamabad to sign the agreement between the two countries, which have very close cooperation in diverse fields, including defence and fighting war against terrorism and extremism. The current trade between the two ... Read More »

Hourly labor costs rise in eurozone in Q4 2015: Eurostat

BRUSSELS: Hourly labor costs rose both in the 19-nation eurozone and in the wider European Union (EU) in the last quarter of 2015, the EU statistical office Eurostat said on Friday. According to its latest figures, in the fourth quarter of 2015, hourly labor costs rose by 1.3 percent in the euro area and by 1.9 percent in the EU ... Read More »

Bulgaria Customs seizes 2kg heroin

SOFIA: Bulgarian customs officers have thwarted an attempt of a Serbian citizen to smuggle two kilogrammes of heroin through Gyueshevo checkpoint on the border with Macedonia. The Serbian citizen was travelling in a Turkish-registered bus from Turkey to Kosovo via Bulgaria and Macedonia, the National Customs Agency said in a statement. The customs officers found the heroin wrapped in plastic ... Read More »

Australia extends more protection to domestic steel industry

CANBERRA: Australia has clamped protective measures to save its steel industry from dumping of steel from Asian countries. It plugged loopholes to salvage the local industry’s interests in which Asian companies were reportedly avoiding Australian duties up to 62.9 percent by making minor adjustments in their steel products. Industry, Innovation and Science Minister Christopher Pyne announced that the government decided ... Read More »

Zeijoa set to export more New Zealand feijoa in this season

WELLINGTON: New markets are opening up for established New Zealand feijoa company Zeijoa, with a number of commercial growers now sharing the ownership. “This will be our fourth year exporting under our premium Zeijoa brand, and it’s the first season where we’ve had shared grower ownership,” Zeijoa Director Todd Abrahams says. “That comes with big advantages as we’re now able to ... Read More »

Cocaine worth £2.6m seized at Grangemouth docks

LONDON: Cocaine with an estimated street value of about £2.6m has been seized at Grangemouth Docks, Border Force officers have said. Officers discovered 41kg of the Class A drug on Wednesday following a search of a refrigerated container that had arrived at the port from Belgium. Head of Border Force Scotland, Murdo MacMillan, said it had been “extremely intricate concealment”. ... Read More »

Ajman posts 19% jump in tourism revenue to $97.7m

ABU DHABI: Total tourism revenues in Ajman for 2015 reached AED359million ($97.7 million), an increase of 19 percent from 2014, according to tourism statistics released by the Ajman Tourism Development Department (ATDD). The report showed that total guests in Ajman last year reached 509,658 while total guest nights reached 1,392,406 with majority of the guests booked their stay in hotel and ... Read More »

UK police seize suspected cannabis worth £400,000

LONDON: Two people aged in their 30s have been arrested on suspicion of a number of drugs and money laundering offences after police seized £400,000 of suspected cannabis. Police seized £200,000 worth of suspected cannabis and arrested the man after a car was stopped on the M2 around midday on Friday. Properties were searched at Shore Road, Belfast and in ... Read More »

HHC offers 8.12 mln shares to raise charter capital

HANOI:  Hải Hà Confectionery JSC (HHC) planned to issue 8.12 million shares worth VNĐ10,000 (US45 cents) each between Q2 and Q3 in order to double the current charter capital. HHC said it offered the shares to its existing shareholders at VNĐ11,000 (US49 cents) each at the ratio 1:1, adding that the remaining shares not bought by the shareholders would be ... Read More »

Customs chief says already busting illicit smokes blamed for BAT plant closure

KUALA LUMPUR: Customs Department director-general Datuk Seri Khazali Ahmad insisted his agency was actively enforcing laws against illicit cigarettes that were cited as a reason for a tobacco firm’s decision to close a factory in Petaling Jaya. Declining to comment on the British American Tobacco (M) restructuring that will see 230 workers at the plant lose their jobs, Khazali said ... Read More »