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Finland total pays increase by 1.4% in Q3 last year

HELSINKI: The wages and salaries sum of the whole economy was 1.4 per cent greater in the past October to December period than in the corresponding period twelve months earlier, according to Statistics Finland. In December alone, the total amount of wages and salaries of the whole economy grew by 2.5 per cent from one year ago. One year previously ... Read More »

Ukraine cut gas import 15.9% in 2015

KIEV: Ukraine will be able to complete the heating season without buying Russian gas, Prime Minister Arseniy Yatsenyuk has said. “I would like to tell you that we will live through the winter without Russian gas for the first time in the entire history of Ukraine,” the prime minister told diplomats in Kiev on Feb. 12. He said the Naftogaz ... Read More »

SMEs can borrow investment capital for supporting industries

HANOI: Small and medium-sized enterprises (SMEs) can borrow up to 70 per cent of the capital they need for investing in supporting industries prioritised by the government from February 22. This is stated in the State Bank of Viet Nam’s (SBV’s) Circular No 01/2016/TT-NHNN, which was issued on February 4 to provide guidelines for a decree on the development of ... Read More »

Australia shares fall 1.2% in 2016

CANBERRA: Australian shares fell 1.2 percent on Friday, hovering near 2-1/2 year lows, led by heavy sell-off in financials and consumer staples stocks. The S&P/ASX 200 index slipped 55.8 points to 4,765.30 at the close of trade, erasing all of the previous session’s gains. The benchmark has fallen in 7 out of the last 10 sessions on renewed worries about ... Read More »

Italy’s economy grew rate of 0.1%

ROME: The 19-country eurozone grew by a paltry quarterly rate of 0.3 percent in the final three months of 2015 despite tail winds such as cheap energy, an export-boosting drop in the currency and monetary stimulus. The growth reported Friday by the European Union’s statistics agency, Eurostat, was in line with market expectations after earlier reports showed Germany, Europe’s biggest ... Read More »

New Zealand avocado exports volume drop 40%

WELLINGTON: Avocados are in short supply in New Zealand following last year’s bumper crop and a cold spring that have seen export volumes drop by 40 per cent. The smaller volume of avocados has seen prices jump on the domestic market, though despite the increase in price, avocados are reportedly still selling fast due to growing demand. Figures released by industry ... Read More »

New Zealand strawberry exports increase to meet new markets

WELLINGTON: New Zealand strawberry growers have seen increased demand for exports as markets open up around the world. “It’s broader now, in terms of where we can go, so it’s opened up opportunities for us a bit more,” North Island grower Phil Greig says. “We definitely did more export this season. We always do a lot through Asia – Hong ... Read More »

Brazil’s GDP to expand by 0.60% in 2017

BRASÍLIA: The gross domestic product (GDP) figures come from the Boletin Focus, a weekly Central Bank survey of analysts from about 100 private financial institutions on the state of the national economy. Analysts also revised their estimates for next year downward by one-tenth of a percentage point, saying they expect Brazil’s GDP to expand by 0.60% in 2017, when the ... Read More »

Wheels India posts 5.65% rise in Q3 net profit

CHENNAI: Chennai-based Wheels India has registered an increase of 5.65% in its net profit for Q3 ending December 31, 2015. It posted Rs 5.98 crore net profit as compared to Rs 5.66 crore registered in the corresponding quarter of the previous year. Revenues for Q3 stood at Rs 470 crore as compared to Rs 477 crore registered last Q3. The company’s ... Read More »

Turkish banks to see 30% rises in profits in 2016

ANKARA: Turkey’s banking sector could see profits increase by 30 percent this year, presidential adviser Yigit Bulut said on Friday in a live interview with state television. The number differed sharply with a forecast of a 10 percent rise from the head of the Banks Association of Turkey. Profits at Turkish banks rose 6 percent in 2015, according to the ... Read More »

EBRD adds €500m to Turkey renewable fund

TURKEY: The European Bank of Reconstruction and Development has added €500 million to its renewable energy fund in Turkey, increasing the total available to banks to €1.5billion. THe EBRD has added the money as part of the third stage of its mid-size sustainable energy financing facility (MidSEFF). The fund offers Turkish banks loans and capital instruments to lend to private ... Read More »

Adani Ports Q3 profit, revenue increase likely to average 12%

WASHINGTON: Adani Ports   ‘ third quarter profit is seen rising 11.5 percent year-on-year to Rs 571 crore and revenue may increase 12.6 percent to Rs 1,741 crore, according to average of estimates of analysts polled by CNBC-TV18. Operating profit (earnings before interest, tax, depreciation and amortisation) in Q3 may grow 17.4 percent to Rs 1,098 crore and margin may expand ... Read More »

North American pellet exports increase in Q3

LONDON: North American overseas pellet exports increased for the second consecutive quarter in the third quarter of 2015, rising 15 percent from the previous quarter to reach a new record high of just over 1.6 million tons, according to the North American Wood Fiber Review. The U.S. South continues to be in expansion mode with additional capacity being added during ... Read More »

Japan’s economy shrinks 0.7% in last 3 months of 2015

TOKYO: After three years of Abenomics and record monetary stimulus from the central bank, the economy still cannot escape a roller-coaster cycle of expansion and contraction. The next round will commence on Monday, when gross domestic product data for the fourth quarter are released. The forecast is pessimistic: that Japan’s economy shrank 0.7 percent on an annualized basis in the ... Read More »

South Korea’s overseas direct investment jumps 15% in 2015

SEJONG: South Korea’s overseas direct investment jumped 15 percent in 2015 from a year earlier, snapping a three-year losing streak and topping the US$40 billion mark again, government data showed Friday. The country’s overseas direct investment came to $40.23 billion in the January-December period, compared with the previous year’s $35 billion, according to the data compiled by the Ministry of ... Read More »

India’s palm oil imports rebound from first decline in 12 months

NEW DELHI: Palm oil purchases by India probably rebounded from the first drop in 12 months as traders and refiners in the world’s largest buyer increased shipments to bridge a widening cooking oil shortfall. Imports climbed 4 percent to 686,000 metric tons in January from a year earlier, according to the median of estimates from five processors and brokers compiled ... Read More »

France reports record export orders for 2015

PARIS: France has reported that defence export orders reached an historic high in 2015 with an estimated total of EUR16 billion (USD18.14 billion). The provisional figure was disclosed by the French military procurement agency, the Delegation General de l’Armament (DGA), on 10 February. The total represents virtually a 100% increase over the 2014 figure of USD9.1 billion, and compares with ... Read More »

Zurich Insurance plans to cut 8,000 jobs

GENEVA: Zurich Insurance is planning to cut 8,000 jobs worldwide between now and 2018, including 750 positions in Switzerland, after announcing a drop in profits for 2015. The company on Thursday said net income for the year fell to $1.8 billion, down 53 percent from 2014 as business turnover dipped nine percent to $67.9 billion. “This is a disappointing result, ... Read More »

Iran oil in global market to decline prices by 13%

TEHRAN: The World Bank Group (WBG) expected the embargo lifting of Iranian oil would result in around 13 percent decline in oil prices because of addition amount sold in the global markets. In a report released Thursday titled (Lifting Economic Sanctions on Iran: Global Effects and Strategic Responses), the WB said that the most gains from the embargo removal will ... Read More »

Saudi Arabia, Cambodia signs contract for recruitment of domestic helps

RIYADH: Saudi Arabia on Thursday signed a contract with Cambodia for recruitment of domestic helps from that country. The contract, signed by Labor Minister Dr. Mufrej Al-Haqbani and his Cambodian counterpart Ith Sam Heng, in Riyadh, aims to recruit trained and skilled domestic workers. This comes within the ministry’s efforts to increase the sources for recruitment of workers and open ... Read More »