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Author Archives: CT Report

Malaysia inflation likely to increase in Dec

KUALA LUMPUR: Inflation in Malaysia likely rose in December due mainly to an unfavorable comparison with the year-ago period and a weak local currency. The consumer-price index, the country’s main gauge of inflation, likely rose 2.8% in December from a year earlier, according to the median forecast of nine economists polled by The Wall Street Journal. This would be higher ... Read More »

Sarawak targets RM8b-RM10b in timber product exports

SARAWAK: The Sarawak Timber Industry Development Corporation (Pusaka) aims to increase the state’s exports of timber products to between RM8 billion and RM10 billion a year, Second Resource Planning and Environment Minister Awang Tengah Ali Hassan said. He said long-term strategies would be formulated to explore new value-added products in the timber industry, including wooing foreign investors in the production ... Read More »

Egyptian exports decrease 2.3% in 2014

CAIRO: Egypt’s exports registered EGP 195.5bn in 2014, compared to EGP 199.8bn in 2013, down by 2.3%, according to the annual Central Agency for Public Mobilisation and Statistics (CAPMAS) report on exports. Non-petroleum exports increased from EGP 146.4bn to EGP 150.23bn, an increase of 2.6%. Petroleum exports amounted to EGP 45bn in 2014, compared to EGP 53.4bn in 2013, a ... Read More »

Indonesian tax on feeder cattle hits live export game

JAKARTA: News that Australian feeder cattle exports headed for Indonesia are to immediately incur an additional ten per cent tax has industry leaders frantically navigating foreign ministries today. At a time of record prices, the removal by the Indonesian Government of the Value Added Tax exemption that has traditionally applied to feeder cattle, both imported and domestic, has come ‘out ... Read More »

Bahrain Petroleum product exports hit record high

MANAMA: Bahrain Petroleum (Bapco) has said its product exports for last year were 92.4 million barrels, the highest since 2010. A statement by the company quoted deputy chief executive for refining and marketing and environment, health and safety committee chairman Ebrahim Talib as saying that the exports comprised diesel at 30.3 per cent, jet fuel 27.64 per cent, naphtha 17.95 ... Read More »

Denmark breaks its own world record in wind energy

COPENHAGEN: Danish wind turbines set a new world record in 2015. Wind power is now counted for 42.1% of the total electricity consumption in Denmark, according to data published here the other day. The percentage of wind power in Denmark’s overall electricity mix is the highest in the world. Last year, the share was 39.1%, which was a record, according ... Read More »

Spain horticultural exports up in 2015

MADRID: Spanish fruit and vegetable exports up to October 2015 increased by 7% in volume and by 14% in value compared to the same period of 2014, reaching a total of 10 million tonnes and 9,477 million Euro, according to the latest data updated by the Directorate General of Customs of the Ministry of Economy. FEPEX expects 2015 to have ... Read More »

Hungary’s trade surplus reaches €673 mln in November

BUDAPEST: Hungary’s exports were up by a year-on-year 6.5% and imports by a year-on-year 7.7% in November, in euro terms, according to a first release of data published by the Central Statistical Office (KSH) this morning. KSH reported that the balance of the trade surplus dropped by €36 million, while in the first eleven months of 2015, the euro value ... Read More »

German industry expects steep rise in exports to Iran

BERLIN: German industry expects a steep rise in exports to Iran following the lifting of international sanctions, and Economy Minister Sigmar Gabriel said on Sunday he would seek to drum up trade on visit Tehran in early May. Iran ended years of economic isolation when world powers lifted the crippling sanctions against the Islamic Republic on Saturday in return for ... Read More »

India allows apple imports from Afghanistan via Wagah

KABUL: The problem of exporting apples to India through Wagah border has been resolved, with thousands of tonnes of the fruit ready for transportation, the Afghanistan Chamber of Commerce and Industries (ACCI) said here the other day. Five months ago, India banned apple importsfrom Afghanistan via the Wagah border of Pakistan. But the Indian embassy in Kabul has now informed ... Read More »

Iraq bans poultry imports from 24 countries over avian flu threat

BAGHDAD: Iraq has extended a ban on imports of frozen and live poultry products to cover two dozen countries, including China and South Africa, the government said on Sunday. Baghdad last month restricted poultry imports from France, where an outbreak of avian flu has been reported. Japan orders slaughter of 37,000 chickens in bird flu outbreak “The import of poultry ... Read More »

Fuel prices dive to 13-year low

TAIPEI: State-run oil refiner CPC Corp, Taiwan yesterday said that it would cut gasoline and diesel prices by NT$1.1 per liter after global crude oil prices plunged below US$30 per barrel amid concerns over persistent oversupply and low demand. An increase in US crude inventory, China’s stock market rout and a strong US dollar against the world’s major currencies led ... Read More »

Barwa signs $157.1m Islamic loan

DOHA: Qatar’s Barwa Real Estate has signed a $157.1 million sharia-compliant five-year loan, the developer said on Sunday. Barwa said it would use the money to refinance an existing Islamic financial liability but did not provide further details. The company on Thursday announced it had signed a $444.3 million sharia-compliant loan with Islamic bank Masraf Al Rayan Read More »

Kuwait Coastguards foil attempt to smuggle 23 falcons

KUWAIT: Coastguards foiled an attempt to smuggle 23 falcons on a boat arriving from Iran, said security sources, noting that the coastguards spotted and inspected the boat in Kuwaitís national waters and found the birds. A case was filed. Read More »

VAMC to buy $4.9 bln of debts

HANOI: The Viet Nam Asset Management Company has planned this year to buy more than VND111 trillion (US$4.9 billion) of principal debts by its special bonds, General Director Nguyen Huu Thuy said. Thuy said his company would continue to buy bad debts with its special bonds. The debts would also be purchased at market price this year in ways approved ... Read More »

Thailand’s private sector sees 3% growth in exports

BANGKOK: The private sector now accepts that Thailand’s overseas shipments could expand by as much as 3 per cent this year, but says the government needs to push support for the farm sector as a priority if this is going to be achieved. The government, however, is maintaining its target of exports achieving 5-per-cent growth, as it expects the challenging ... Read More »

Kuwait police nab couple for smuggling liquor

KUWAIT: Ahmadi detectives arrested a citizen and an Asian woman for smuggling liquor, said security sources. Case papers indicate that detectives had been tipped off concerning the suspectsí activities and after close surveillance, an undercover agent was sent to make a deal with the suspects, who were arrested red-handed. On searching their house, detectives found 49 bottles of liquor and ... Read More »

Thailand to apply new rice plan next month

BANGKOK: Thailand has invited the country’s private and farming sectors to join the government to develop a new rice plan for the current year. According to the commerce permanent secretary Chutima Boonyaprapat, the three parties have agreed to produce 25mn tonnes of rice in 2016-17 instead of the usual 32mn tonnes. The reason behind the drop in production is to ... Read More »

Shares in S. African retailer Mr Price Group fall 18%

CAPE TOWN: Shares in South African retailer Mr Price Group tumbled nearly 18 percent on Friday, their biggest one-day drop in more than 15 years, after the company’s third-quarter sales figures disappointed. The discount fashion and homeware retailer said sales in the three months through December, including the Christmas period, rose 6.5 percent from a year earlier and comparable sales, ... Read More »

PSX plunges by 1,216pts in early trading

KARACHI: The Pakistan Stock Exchange (PSE) plunged 1,216 points shortly after the start of the first trading session of the week. As per details, the benchmark index slightly recovered afterwards to clock up at 30,153.42 points at 12:30pm, which is down 2.7 percent from the start of trading. As many as 251 stocks declined while only 23 registered an increase ... Read More »