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Taiwan industrial production falls 5.65%

TAIPEI: Industrial production fell 5.65 percent year-on-year last month as weak demand dampened the recovery following the Lunar New Year holiday, the Ministry of Economic Affairs said yesterday. Last month’s data marked the ninth consecutive month of annual declines, the ministry said. The government’s industrial production gauge for the nation’s main industries saw an across-the-board annual decline last month for ... Read More »

BI sees consumer prices falling in February

JAKARTA: Bank Indonesia (BI) expects the consumer price index (CPI) to fall by around 0.13 percent in the course of February due to decreasing food prices. Meanwhile, year-on-year inflation is predicted to sit at 4.38 percent. BI executive director Juda Agung said that according to the latest survey conducted by the central bank, the expected monthly deflation in February was ... Read More »

Post-sanctions Lanka-Iran talks sealed in Colombo

COLOMBO: Iranian Energy Minister Hamid Chitchian (left) and Minister of Industry and Commerce Rishad Bathiudeen exchange the finalized minutes of the 11th Joint Commission for Economic Co-operation (JCEC) sessions The 11th round of Iran-Sri Lanka trade talks wrapped successfully on Wednesday in Colombo. The first trade talks to be held with Sri Lanka by a post-sanctions Iranian administration, the tightly ... Read More »

Customs Authority expands Al Nadeeb service

DOHA: The General Authority of Customs has launched a major marketing campaign to help build awareness for its Single Window Customs Clearance System called Al Nadeeb. It has also launched the Al Nadeeb smartphone application to facilitate easy access to the online customs clearance system. The purpose of the marketing campaign is to create awareness for the advanced features and ... Read More »

KSE rises despite low volume: KFH report – Market cap up by 1.9 pct to KD 25.54 billion

KUWAIT CITY: The three main indexes of Kuwait Stock Exchange (KSE) have closed at end of current week with an increase on weekly basis, while weekly trading volumes saw a decrease despite indexes rise, Kuwait Finance House (KFH) said Thursday. The KSE indices were positive despite oil prices drop, the market closed at 5,174.69 up by a marginal 0.66 percent, ... Read More »

AirAsia Q4 earnings at RM554m, drives FY15 higher

KUALA LUMPUR: AirAsia Bhd posted net profit of RM554.20mil in the fourth quarter ended Dec 31, 2015 compared with a net loss of RM428.51mil a year ago, boosting the full year FY15 earnings to RM540.96mil. The low-cost carrier reported on Friday that quarterly revenue rose 47% to RM2.17bil fromRM1.48bil a year ago. “The strong revenue recorded was on the back ... Read More »

ST Engineering’s revenue falls by 3.1% to $6.33bn

SINGAPORE: Aerospace and defence conglomerate Singapore Technologies Engineering (ST Engineering) saw weak results from its shipbuilding business, offset somewhat by strong results from its electronics sector and a stronger United States dollar. Net profit for the full year dipped 0.5 per cent to $529 million, while revenue fell 3.1 per cent to $6.33 billion for the 12 months to Dec ... Read More »

Baidu reports 33% jump in Q4 revenue

BEIJING: China’s Internet giant Baidu Inc reported on Friday a 33 percent jump in its revenue in the fourth quarter, beating Wall Street expectation. The company, which is dubbed as China’s Google, saw its revenue between October and December rise 33.1 percent year-on-year to 18.7 billion yuan ($2.89 billion). Robin Li, chief executive officer, said in the earning release that ... Read More »

Bond value surges 117% in January

BEIJING: The value of bonds issued in China in January surged more than 117 percent from a year earlier to 2.1 trillion yuan (US$321 billion), the central bank said yesterday. Of the bonds issued, 1.8 trillion yuan’s worth were issued through the interbank bond market, up 109.9 percent year on year, according to the People’s Bank of China. By the ... Read More »

US economy grows surprise 1% in Q4

WASHINGTON: The US economy’s slowdown in the last quarter of 2015 wasn’t quite as bad as thought. The gross domestic product, the broadest measure of economic health, grew at an annual rate of 1 percent in the fourth quarter, the Commerce Department said yesterday. That’s an improvement from the first estimate of 0.7 percent, though just half the 2 percent ... Read More »

Spain’s home mortgages rise by 19.8% in 2015

MADRID: The number of home mortgages granted to prospective buyers in Spain increased by 19.8 percent in 2015 when compared with a year earlier, according to data published Friday by Spain’s Statistical Office (INE). The INE said a total of 244,827 home mortgages were granted in 2015, with the amount of capital loaned rising by 24.1 percent to 25.934 billion ... Read More »

German inflation falls to zero in February

BERLIN: Driven by a sharp drop of energy prices, German annual inflation falls to zero in February, fueling speculations that the European Central Bank (ECB) would further loosen its monetary policy next month. Compared with the previous year, consumer price index (CPI) in Germany remained unchanged in February, said German federal statistics office Destatis on Friday. In January, consumer prices ... Read More »

HK-mainland trade to hit $24.39bn in Jan

HONG KONG: The Chinese mainland’s trade with Hong Kong in January reached 24.39 billion U.S. dollars, up 1.1 percent year on year, the Ministry of Commerce (MOC) said on Friday. That accounted for 8.4 percent of the mainland’s total overseas trade last month, MOC figures showed. The mainland’s exports to Hong Kong hit 22.74 billion U.S. dollars, a decrease of ... Read More »

HK Customs seizes 30kg “suspected” European eels

HONG KONG: Yesterday, a man was arrested at the Hong Kong airport after customs found 30 kilos of “suspected” European eels – which are critically endangered – in the incoming passenger’s two pieces of check-in luggage. The man was arriving from Lisbon, Portugal via Dubai. Baby eels are a delicacy in Japan and European countries like France and the UK. ... Read More »

UK Customs seizes 30,600 illegal cigarettes

LONDON: Investigators have seized a haul of illegal tobacco and alcohol from shops in Leicester. HM Revenue and Customs (HMRC) staged a two-day operation this week. Officials visited 18 shops in and around Belgrave and Narborough Road on Tuesday and Wednesday and confiscated more than 30,600 cigarettes, 51kg of tobacco and 919 litres of spirits and wine from 13 of ... Read More »

USA Customs seizes meth worth $150,000

DEL RIO: U.S. Customs and Border Protection officers at the Del Rio International Bridge recently discovered more $150,000 worth of suspected narcotics hidden in a vehicle coming from Mexico. “Smugglers continue to use creative tactics in their attempts to bring contraband into the United States,” said Port Director Alberto D. Perez, Del Rio Port of Entry. “Our frontline CBP officers ... Read More »

US Customs seizes marijuana worth $12k

TUCSON: Customs and Border Protection officers arrested a Rio Rico, Arizona man for an alleged attempt to smuggle approximately 23 pounds of marijuana, worth about $11,700, through the Port of Nogales here the other day. Officers at the Dennis DeConcini crossing referred the 45-year-old man for further inspection of his Chevrolet truck when he attempted to enter the U.S. as ... Read More »

US Customs seizes marijuana worth $2.75m

TUCSON: U.S. Customs and Border Protection officers at the Mariposa Commercial Facility in Nogales, Arizona, seized $2.75 million in marijuana – approximately 5,500 pounds – from a Mexican national here the other day when he attempted to enter the United States. After an alert by a CBP narcotics-detection canine, officers found the drugs within palletized boxes identified as assorted electronic ... Read More »

Russian social network Vkontakte’s revenues grow 44%

MOSCOW: The revenues of Russian social network Vkontakte grew 44.2 percent last year to 6.23 billion rubles ($82.4 million), the RBC business news agency reported Friday, citing financial statements of Mail.Ru Group, which owns Vkontakte. In the second half of 2015, revenues increased 52.8 percent, with an EBITDA of 3 billion rubles, RBC reported. The monthly active audience on Vkontakte ... Read More »

Russian black caviar exports rise sharply

MOSCOW: Russia saw a significant increase in black caviar exports last year, reestablishing its position on the global market, the Interfax news agency reported Friday, citing data from the Russian Agriculture Ministry. The volume of the exports rose three times from 1.65 tons in January-November 2014 to 4.71 tons during the same period last year, as imports of black caviar ... Read More »