Thursday , May 28 2020
Breaking News
Home / Author Archives: CT Report (page 3220)

Author Archives: CT Report

Assistant Director (MIS) Ashfaq to retire on March 31

ISLAMABAD: Ashfaq Ahmed, a BS-17 officer of Inland Revenue Service, is going to retire from the government service on attaining the age of superannuation. The officer, posted as Assistant Director (MIS) at Regional Tax Office III, Karachi, will stand retired from the government service with effect from March 31. Read More »

Shell expects Brazil output to quadruple by 2020

BRASÍLIA: Royal Dutch Shell, Europe’s largest oil company, expects to make robust investments in Brazil’s offshore resources, hoping to quadruple oil and gas output there by the end of the decade, its chief executive officer said on Monday. CEO Ben van Beurden spoke in Brazil shortly after Shell’s $52 billion takeover of BG Group Plc, approved in late January, took effect. ... Read More »

Indonesia posts small trade surplus in Jan

JAKARTA: Indonesia posted a small trade surplus in January, confounding expectations for a third monthly deficit, due largely to a slump in imports from persistently weak domestic consumption. Sliding prices for oil, gas and other commodities have led to a sharp drop in export earnings for Southeast Asia’s largest economy, and deteriorating global demand could push the central bank to ... Read More »

Customs Intelligence, Collectorate to hold joint anti-vehicle smuggling ops

ISLAMABAD: Intensifying its campaign against vehicle smuggling, Federal Board of Revenue’s (FBR) Customs Intelligence and Customs Collectorate have announced to launch joint operations against the smugglers. Sources said that a meeting between both the key departments has also been decided to seek the support of the other law-enforcement agencies, including Frontier Constabulary, police, Motorway Police and National Highway Authority, besides ... Read More »

Nepal to import 80mw electricity from India

KATHMANDU: Nepal is all set to start importing an additional 80MW electricity from India from Wednesday through the newly-completed 400kV Dhalkebar-Muzaffarpur cross-border transmission line. Nepal Electricity Authority (NEA) will import the power for the next four and half months. With NEA and India’s NTPC Vidyut Vyapar Nigam settling the price for the electricity to be imported, the two sides on ... Read More »

National Australia bank cash profit rises 8%

CANBERRA: National Australia Bank Ltd. posted an 8 percent increase in first-quarter earnings after spinning off its troubled U.K business and squeezing more profit from home loans. Unaudited cash profit, excluding the U.K. division, climbed to about A$1.7 billion ($1.2 billion) in the three months ended Dec. 31, the Melbourne-based lender said Tuesday in a statement. Net income for the ... Read More »

Turkey to open trade centers in Tehran, Dubai

ANKARA: In addition to its praised economic growth in Turkey, the contracting sector has recently broken a new record. As of the end of 2015, nearly 9,000 projects worth more than $322.6 billion have been initiated in 107 countries. Economy Minister Mustafa Elitaş said the projects initiated in the past 12 years are worth nearly $276 billion. Highlighting that the ... Read More »

Pak rupee gains value against dollar

  KARACHI: The Pakistani rupee Tuesday gained value against the US currency in open market and remained unchanged in interbank. According to the local money market, the dollar lost 10 paisas in open market to reach 106.05 and remained steady in interbank at 104.30. On Monday, the greenback gained 35 paisas in open market to reach 106.15 and remained firm ... Read More »

Walnuts Australia sends first exports to Japan

CANBERRA: Walnut grower and processor Walnuts Australia has opened up a new market in Japan, with the first ever export of Australian walnut kernel arriving to the market in February 2016. The company says that the recent Free Trade Agreement between the two countries, and Japan’s appetite for high quality, premium products have played major roles in opening up the ... Read More »

Vietnam, Thailand boost bilateral cooperation

BANGKOK: Their meeting took place on the sidelines of the ASEAN – US Summit from February 15-16 in California, the US. The two sides expressed their delight at the fruitful relations and the strategic partnership between Vietnam and Thailand and pledged to work together for the effective implementation of the Plan of Action Implementing the Vietnam – Thailand Strategic Partnership (2014 ... Read More »

Bank of Japan launches negative interest rates

TOKYO: The Bank of Japan’s negative interest rates came into effect on Tuesday in a radical plan already deemed a failure by financial markets, highlighting Tokyo’s lack of options to spur growth as global markets sputter. The central bank, which announced the shock decision on 29 January, will charge banks 0.1% for parking additional reserves with the BOJ to encourage ... Read More »

Job cuts to escalate in South African mines

CAPE TOWN: Job losses in South Africa’s mining sector are likely to accelerate with mining companies such as Glencore and Anglo American battling to cope with a global commodity price slump. The government has warned that 32,000 workers in the sector could lose their jobs as metals prices fall due to slowing economic growth in China, the world’s biggest metals consumer. ... Read More »

Oman focuses on domestic rail

MUSCAT: Oman may focus on building a domestic rail network rather than connecting its railways to a regional system, because of uncertainty over when the regional project will go ahead, Transport Minister Ahmed bin Mohammed Al-Futaisi said on Sunday. Oman and the five other states in the Gulf Cooperation Council (GCC) have been planning to build a railway line linking ... Read More »

Saudi Arabia sees 10-15% decline in steel demand

RIYADH: Saudi Arabia has witnessed a 10-15% decline in steel demand as builders await the rise in real estate prices with the new White Land Tax, the “Iqtisadieh” Saudi Daily reported. According to the report, 1.8million tonnes is the country’s stockpile of steel which has prompted 50% of manufacturers to lower or stop production lines. The daily said that steel imports ... Read More »

South’s Korea KOGAS cuts 2015 LNG imports 13.5%

SEOUL: South Korean state-owned Korea Gas Corp.’s imports of LNG fell 13.5% to 31.41 million mt last year, as the country’s LNG demand dipped 10.6%, the company said Monday. It marks the second consecutive year of decline in its LNG imports. Kogas lowered LNG imports to 36.33 million mt in 2014, down 7.6% from 39.33 million mt in 2013 — ... Read More »

US beef imports expected to decline over 2016

WASHINGTON: US beef imports are off to a slow start and there is broad expectation that import volume will decline sharply in 2016, write Steve Meyer and Len Steiner. This is expected to offset in part the increase in domestic production. USDA forecasts domestic beef production in 2016 to increase 3.7 per cent from 2015 levels and yet per capita ... Read More »

Russia PP imports rise 27% in Jan 2016

MOSCOW: January overall imports of polypropylene (PP) into Russia rose by 27% year on year, totalling slightly over 11,000 tonnes, while imports of propylene homopolymer (homopolymer PP) and block copolymers of propylene (PP-block) also increased, according to MRC’s DataScope report. Russian companies increased PP purchasing in foreign markets last month with total imports exceeding 11,000 tonnes versus 8,700 tonnes in ... Read More »

China’s Jan coal imports fall 9% on year

BEIJING: China’s coal imports, including lignite, thermal and metallurgical coal, totaled 15.23 million mt in January, down 9.2% year on year and 13.7% on the month, according to preliminary data released Monday by the General Administration of Customs. “We suspect the weakness could be attributed to thermal coal, where a pick-up in domestic output may have weakened demand for imported ... Read More »

Veg oil imports increase 17% to 40.14 lakh tons in Q1

WASHINGTON: Vegetable oil import during the first quarter of the current oil year (November-October) rose by 17 percent to 40.14 lakh tonnes due to higher imports of Palmolein oil. During November-January period of currrent oil year, the import of refined Palmolein oil jumped to 6.11 lakh tonnes (LT) from 1.73 lakh tonnes in the same period last year. “The overall import ... Read More »

India’s international trade in services remains flat in Dec 2015

NEW DELHI: India’s international trade in services remained almost flat from a year ago in December 2015 with exports of $14.04 billion (Rs 95,682.6 crore) and imports of $7.19 billion (Rs 48,999.85 crore), says the Reserve Bank of India (RBI) data. The services exports (or receipts) were at $14.30 billion (nearly Rs 97,454.5 crore) in December 2014 and the services ... Read More »