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Author Archives: CT Report

Strategic Trade Policy Framework formulated to boost exports: Khurram

ISLAMABAD: Minister for Commerce Khurram Dastagir Khan has said that his Ministry had formulated the ‘Strategic Trade Policy Framework (STPF) 2015-18’ and actively engaged in a consultative process with the business community and relevant government Ministries regarding the policy. He was briefing National Assembly Standing Committee on Commerce which met here, under the Chairmanship of Siraj Muhammad Khan, MNA the ... Read More »

Australia ready to cooperate with Pakistan in agriculture, energy sectors: Envoy‏

  ISLAMABAD: Pakistan was facing some challenges and Australia was ready to cooperate with it in multiple sectors including agriculture, energy, exploration of natural resources, information technology, health, education and value chain to uplift its economic profile, observed Ms. Margaret Adamson, High Commissioner of Australia while addressing business community at Islamabad Chamber of Commerce and Industry. She said Pakistan was ... Read More »

Pak-Portugal bilateral trade ties should be enhanced: Envoy

LAHORE: Pakistani entrepreneurs are invited to start joint ventures with their Portuguese counterparts in the sectors of textile, food, rice, information technology, sports goods and agriculture that would be equally beneficial for the both countries. The invitation was extended by the Charge De Affairs of Portugal Joao Paulo Sabido while talking to the LCCI Senior Vice President Almas Hyder and ... Read More »

Imports rebound at southern California ports

WASHINGTON: The two busiest U.S. ports on Thursday reported slight growth in imports, the latest sign that many companies are holding back on spending as they wait for the economic picture to clear. The ports of Los Angeles and Long Beach, which form the largest port complex in the Western Hemisphere, reported a 37% jump in container imports from a ... Read More »

Trade volume at ports declines by 60% in Nigeria

WASHINGTON: Chief Remi Ogungbemi, the Chairman, Association of Maritime Truck Owners (AMATO) on said trade volume at the nation’s ports had declined by 60 per cent. Ogungbemi, who made the remark in an interview with the News Agency of Nigeria (NAN) in Lagos, expressed concern about low business at the ports He said that the increase in the exchange rate ... Read More »

South Africa R7 bln commits to new port facilities

CAPE TOWN: South Africa President Jacob Zuma has announced that R7 billion has been committed to new port facilities. Delivering his State of the Nation Address in Parliament on Thursday night, Zuma said government was concerned that South Africa did not own vessels while the country was surrounded by about 3,000 kilometers of coastline. “Through the oceans economy segment of ... Read More »

General aviation airplane shipments fall slightly in 2015

WASHINGTON: General aviation airplane shipments fell slightly last year, from 2,376 aircraft delivered in 2014 to 2,267 in 2015, representing a slow-down in demand at a time when new piston, turboprop and jet models are poised to hit the market. According to the data released by the General Aviation Manufacturers Association this week, shipments of piston-engine airplanes fell for the ... Read More »

Adani ports Q3 profit jump 26% at Rs 645 crore

NEW DELHI: Adani Ports and Special Economic Zone Ltd (APSEZ) on Friday reported a 26 per cent jump in consolidated net profit at Rs 644.96 core for the quarter ended December 2015, on the back of increased income. Total income from operations rose to Rs 1,717.86 crore in the quarter under review as against Rs 1,548.45 crore in the corresponding ... Read More »

Robot orders, shipments in North America set new records in 2015

LONDON: Robot orders and shipments in North America set new records in 2015, according to Robotic Industries Association (RIA), the industry’s trade group. According to the RIA, a total of 31,464 robots valued at $1.8 billion were ordered from North American companies during 2015, an increase of 14% in units and 11% in dollars over 2014. Robot shipments also set ... Read More »

Iraq oil revenues on just 15% of level 2 years ago

BAGHDAD: Iraq’s oil revenues have sunk to just 15 percent of their value two years ago, Prime Minister Haider al-Abadi said Thursday, as he urged the international community to help shore up his country’s battered economy. “Iraqi oil revenues have fallen to just 15 percent of the revenues we had two years ago. This is a major decline and we ... Read More »

India’s retail inflation marginally hits to 5.69% in Jan

NEW DELHI: India’s retail inflation marginally inched up to 5.69% in January, from 5.61% in December. This is the fifth consecutive month of rise. Retail food inflation rose 6.85% in January from 6.4% in December due to higher prices of pulses, meat and fish, spices and prepared meals, data released by the statistics office showed. Prices of pulses climbed 43.32% and ... Read More »

Ghana’s inflation quickens to 19% in Jan

ACCRA: Ghana’s inflation quickened to 19 percent in January from 17.7 percent recorded the previous month due to increases in utility tariffs and fuel prices, it was revealed on Wednesday. The country’s utility regulator approved a 59.2 percent increase in electricity tariffs and an 89 percent rise in water charges. Oil marketing companies also pegged ex-pump prices at 27 per ... Read More »

Bangladesh Petroleum Corp issues first tender to buy oil in 15 years

DHAKA: Bangladesh Petroleum Corp (BPC) has issued its first tender to buy oil products in 15 years, in a move away from direct term deals with suppliers as it opens up its purchasing contracts. The decision to buy fuel products via a tender this year comes at a time when gasoil and jet fuel supplies are ample in Asia as ... Read More »

Congress bans import of forced labor products

WASHINGTON: A bill headed for President Barack Obama this week includes a provision that would ban U.S. imports of fish caught by slaves in Southeast Asia, gold mined by children in Africa and garments sewn by abused women in Bangladesh, closing a loophole in an 85-year-old tariff law that has failed to keep products of forced and child labor out ... Read More »

India’s tea exports to Pakistan rises 56%

NEW DELHI: India’s tea exports to Pakistan rose by 56 per cent to Rs. 139.74 crore in the first nine months of the current fiscal, while the overall outward shipments surged by just 9 per cent to Rs. 3,218.07 crore. Total exports to the neighbouring country stood at Rs. 89.46 crore in the first nine months of the previous fiscal, ... Read More »

Abu Dhabi’s Mubadala seeks $2 bln loan refinancing

ABU DHABI: Abu Dhabi state-owned investment fund Mubadala is talking to banks to raise a loan worth up to $2 billion, which it plans to close in the first half of the year, banking sources aware of the matter told Reuters on Thursday. The company is in talks with local and international lenders regarding the financing, two of the sources ... Read More »

Polish GDP growth in 2015 fastest in 4 years

WARSAW: The Polish economy grew by 3.9 percent year on year in the last quarter of 2015, the highest figure since 2011. A report relating to Q4 2015 data released by Poland’s Central Statistical Office (GUS) on Friday said: “Non-seasonally adjusted GDP (constant average prices of the previous year) was 3.9 percent higher than in the corresponding quarter of the ... Read More »

Nepal resumes regular fuel distribution after crisis

KATHMANDU: After more than five months of economic blockade and a resulting fuel crisis, the Nepal government on Friday commenced regular public distribution of petroleum products. A meeting here on Thursday, chaired by Commerce and Supplies Minister Ganeshman Pun, scrapped the quota system for fuel distribution that had been introduced after blockading of the Nepal-India border by anti-Constitution protestors led ... Read More »

Portuguese State bank stems losses by 50%

LISBON: State-owned bank Caixa Geral de Depósitos (CGD), the largest bank in the Portuguese financial system, registered a negative net loss of €171.5 million in 2015, down from the €348 million loss in 2014, the bank reported. “I would like to highlight the significant improvement both in domestic and in international activities. This recovery does not yet provide for the ... Read More »

Al Omaniya posts OMR6.65 mln net profit

MUSCAT: Al Omaniya Financial Services, Oman’s largest non-banking financial company (NBFC), has recommended a dividend of 25 per cent comprising 17 per cent cash, 3 per cent stock dividend and 5 per cent compulsorily convertible bonus stock bonds. The company’s audited results for the year ended 2015 shows a net profit of OMR6.657 million, an increase of 2.73 per cent ... Read More »