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Iran’s oil exports hit 22-month high Jan

TEHRAN: Iran’s oil exports climbed to the highest in 22 months in January when sanctions against its economy ended, opening the way for higher shipments to Asia and new sales to Europe and Africa. Exports rose to 1.55 million barrels a day in January, the highest since March 2014 and 9.2 percent higher than the month before, according to data ... Read More »

Free trade boosts Turkish exports to Palestine

ANKARA: Turkey’s exports to Palestine rose nine-fold over the last decade thanks to a free trade agreement, a senior representative of a Turkish business organization said on Thursday. “Our exports [to Palestine], which totaled $9.4 million in 2005, have since increased nine-fold to reach $82.2 million in 2015,” Mustafa Çıkrıkçıoğlu, deputy chair of the Turkish Exporters Assembly (TIM), said in ... Read More »

NBK plans to sell part of $1.9bn loan

KUWAIT: National Bank of Kuwait (NBK) plans to sell down part of the KD600 million ($1.99 billion) it is contributing to Kuwait National Petroleum Company’s Clean Fuels Project loan to other banks, it said in a statement. NBK and Kuwait Finance House are leading the arranging of the first tranche of the funding, which includes a 10-year, KD900-million loan. The ... Read More »

Sugar exports to surge 80% to 20 LT in 2015-16

NEW DELHI: Sugar exports from India, the world’s second-largest producer, are likely see an over 80 per cent jump to 20 lakh tonnes in 2015-16 marketing year, even as the production is set to drop by 9 per cent. Sugar mills have received contracts to export 14 lakh tonnes (LT) of the sweetener since October and are likely to ship out ... Read More »

South African trade sharply declines in 2015

CAPE TOWN: Although South African container trade started off with a bang in 2015, with the market growing by seven percent during the first half of the year (year on year), the second half of 2015 saw a significant slowdown, recording a one percent decline. This is according to the fourth quarter Maersk Trade Report which reveals that during the ... Read More »

Dubai firm mulls plan for halal food factory in Brazil

DUBAI: Dubai-based Al Islami Foods is planning to open an office in Sao Paulo as it looks to expand its operations in Brazil, it has been reported. The company, which in 2014 said it was looking to create 1,000 new jobs with a factory in Dubai which will triple production levels, is also considering opening a poultry processing plant in ... Read More »

Saudi oil exports rise to 7.835 mln bpd in Jan

RIYADH: Saudi Arabia’s crude oil exports in January rose to their highest level in nine months to 7.835 million barrels per day from 7.486 million bpd in December, official data showed on Thursday. The world’s largest oil exporter and OPEC heavyweight produced 10.230 million bpd in January, a record high, compared with 10.144 million bpd a month earlier, the data ... Read More »

Saudi Arabia to join April oil producer meeting in Doha

KUWAIT: Saudi Arabia will join a meeting of producers from within and outside OPEC in Doha next month, adding weight to the campaign by financially stricken crude exporters to freeze output and overcome the supply glut that’s weighing on the market. Qatar’s oil minister said that countries would meet in the nation’s capital Doha on April 17, without providing details ... Read More »

Japan’s imports of furniture decrease 2% in 2016

TOKYO: Japan’s imports of bedroom furniture continue to rise, a trend that began in September 2015. Year-on-year, January 2016 imports were down 2% but were the highest since February 2015, ITTO reported. The main supplier at 59% of all bedroom furniture imports was China, followed by Vietnam (29%) and Thailand, a distant 3%. China’s January shipments of bedroom furniture were virtually ... Read More »

Thailand’s fruit imports rise 18% YOY in 2015

BANGKOK: Thailand’s fruit imports rose 18% year-on-year in 2015 to reach more than half a million metric tons (MT), with apples leading the pack and melons showing the highest percentage growth. Thai Customs Department statistics show apple imports rose 23% to reach 159,510MT, followed by table grapes which had growth of 45% to hit 127,400MT, and mandarins which were one ... Read More »

South Korea thermal coal imports slump 15% in Feb

SEOUL: South Korea imported 7.1 million mt of thermal coal in February, falling 15.2% from 8.37 million mt in January and down 14.7% from 8.32 million mt in February 2015, according to customs data released late Wednesday. Of the February total, 6.6 million mt was bituminous coal while the remaining 487,519 mt was sub-bituminous coal. For the first two months ... Read More »

EU wood product imports at high level in 2015

WASHINGTON: The total value of EU imports of wood products was euro17.20 billion in 2015, 12% more than in 2014. This followed an increase of 10% to euro15.3 billion in 2014. In 2015 EU import value was at the highest level since 2008 just before the global financial crises. The surge in the euro value of imports in 2015 was ... Read More »

Council of ministers approves proposal on port concession

WILLEMSTAD: The Council of Ministers approved a proposal by the Minister of Economic Development, Eugene Rhuggenaath on a proposal, which should lead to a new concession for the stevedoring operations at the port. With this proposal the negotiations, between Curaçao Ports Authority (CPA) and Curaçao Port Services (CPS), which were discontinued by the CPS on February 23, can continue. Minister ... Read More »

Ukrainian Seaports Authority signs MOC with Bulgarian Ports

KIEV: Ukrainian Seaports Authority says it signed the Memorandum on cooperation with Bulgarian Ports Infrastructure Company during its working visit to the Republic of Bulgaria. The sides agreed to deepen cooperation and develop business relations. In the framework of the Memorandum the two companies has determined some pilot projects on informational exchange on procedures for approach/departure of ships, as well ... Read More »

Port of Long Beach to see 5% cargo growth in 2016

LONDON: The Port of Long Beach, the second largest port in the United States, will see 5 percent growth in cargo volume this year as a strong U.S. dollar spurs consumer demand, the west coast port’s chief executive said on Thursday. The port, which handles 20 percent of U.S. cargo, mainly from east Asia, just posted its strongest February on record, ... Read More »

CKH Holdings ports revenue falls by 5%

WASHINGTON: CK Hutchison Holdings (0001) reported today the revenue, before additional contributions, of HK$33.76 billion dropped by 5 percent due to the adverse foreign currency translation to Hong Kong dollars. In local currency terms, revenue was 2 percent higher compared with 2014. Throughput increased by 1 percent to 83.8 million twenty-foot equivalent units in 2015, the company reported. After the reorganization, ... Read More »

South Carolina Ports Authority exports two millionth SC made BMW

WASHINGTON: The South Carolina Ports Authority exported the two millionth BMW manufactured in South Carolina, a milestone celebration of the Port’s longstanding partnership with the nation’s top vehicle exporter by value. SCPA and BMW officials commemorated the two millionth BMW vehicle manufactured by Plant Spartanburg and exported through the Port of Charleston. SCPA and BMW commemorated the two millionth BMW ... Read More »

Tablet shipment reaches 4.4 mln in India

NEW DELHI: Buoyed by government purchases, tablet PC shipment in India grew 13 per cent to reach 4.4 million in 2015, with low-cost device maker Datawind and Pantel emerging as top players in the segment. “4.4 million tablet PCs were shipped in India in 2015, registering a growth of 13 per cent compared with 2014,” CyberMedia Research said in its ... Read More »

PC shipments rise 10.6% in Q4 of 2015

WASHINGTON: Personal computer (PC) shipments in India totalled around 2.6 million units in the fourth quarter of 2015, a 10.6 percent increase over the corresponding period of 2014, according to information technology research and advisory company Gartner. ”Consumers accounted for 40 percent of total PC sales in the fourth quarter of 2015, down from 52 percent in the fourth quarter ... Read More »

SC suspends SHC order to cross Ayyan’s name off ECL

ISLAMABAD: The Supreme Court has suspended the decision of Sindh High Court (SHC) for removing the dollar girl Ayyan Ali’ s name from Exit Control List (ECL) and sought a reply from respondent within a week. A three-member bench headed by Justice Ijaz Afzal Khan, comprising Justice Qazi Faiz Esa and Justice Maqbool Baqar heard the appeal filed by Islamabad ... Read More »