Thursday , May 28 2020
Breaking News
Home / Author Archives: CT Report (page 3234)

Author Archives: CT Report

Spain: world’s second largest melon exporter

MADRID: Spain has no real match in the melon market, since almost 90 percent of its sales are made in the European Union (EU), where it holds a dominant position, according to a global analysis of melon trade in 2014, made with data from the Statistics Division of the United Nations (UN) and the statistical service Euroestacom (ICEX-Eurostat). Of the ... Read More »

Banks exchange 1000s of credit cards after hack attack

BERLIN: Several large German banks have had to exchange thousands of customers’ credit cards after details were stolen in a hacker attack at the end of last year. In total around 85,000 customers have had their MasterCard or Visa credit cards exchanged over the past few weeks, with the banks saying it is a purely precautionary measure. Hackers broke into ... Read More »

Sri Lanka’s footwear, leather exports in 2015 increased to $110m

COLOMBO: Minister of Industry and Commerce Rishad Bathiudeen said ” Sri Lanka’s footwear and leather exports in 2015 increased to $110 Million showing strong growth trends and EDB’s efforts. What we need to understand in this is that almost 80 percent of these were footwear exports. The global footwear market is expected to exceed $ 370 billion by 2020.” He ... Read More »

New home construction falls 38% in fourth quarter

TAIPEI: New home construction totaled NT$178.5 billion (US$5.33 billion) in the final quarter of last year, shrinking 38 percent from a year earlier, as new property taxes and political uncertainty dampened buying interest, a report by Cathay Real Estate Development Co and National Chengchi University’s Taiwan Real Estate Research Center showed. The market is likely to remain soft this quarter ... Read More »

Sasol seeks to fuel performance in Africa

CAPE TOWN: Sasol has held discussions with various entities in Africa outside of SA on the long-term potential for a chemicals plant, the group’s executive, vice-president for chemicals Fleetwood Grobler, said on Thursday. The chemicals and energy group has production facilities in SA, Mozambique and North America. It is investing $8.9bn in the state of Louisiana in an ethane cracker ... Read More »

Oil and gas capex drops 26%; BofA Merril Lynch projects another 10% cut in 2016

DOHA: Global oil and gas capital expenditures (Capex) dropped by 26 percent in 2015, and is expected another round of cuts this year to the tune of 10 percent globally. Capex is a function of prices, and with prices recently below the $30/bbl mark, the actual 2016 cut is likely to end up larger than these expectations. In that respect, ... Read More »

Malaysia’s total trade expected to expand at faster rate

KUALA LUMPUR: The Government expects the country’s total trade numbers to expand 2% this year, faster than the 1.2% growth to RM1.47 trillion registered in 2015. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said he saw rising trade with neighbouring Asean countries to more than offset the projected slowdown with China. “We don’t want the momentum to decrease,” ... Read More »

ABK announces operating profits of KD 87.3 million

KUWAIT: Al Ahli Bank of Kuwait (ABK) yesterday announced Operating Profits of KD 87.3 million for 2015, up 5.8% from last year. Operating Income also saw a 9.3% jump to KD 128.5 million, while net loans and advances to customers increased by 25.8% over the same period, underlining the Bank’s strong growth momentum. Net Profits, however, were down 19.2%, from ... Read More »

HK Customs nabs Spanish man for smuggling European eels

HONG KONG: A Spanish man was caught trying to smuggle European eels, an endangered species, at the Hong Kong airport here the other day, the second case of its kind since last month, Apple Daily reported. Customs officials found the eels in three pieces of check-in baggage of a man who arrived in Hong Kong from Bilbao, Spain via Paris, ... Read More »

Singtel Q3 profit slips 1.7% amid currency conversion losses

SINGAPORE – Singtel posted a 1.7 per cent drop in net profit to S$954 million in the third quarter, on higher network and spectrum investments, as well as currency conversion losses. An 8 per cent decline in the Australian dollar in the third quarter hurt the Singapore-dollar translated earnings of Australian unit Optus, which contributed 55 per cent to the ... Read More »

Chinese investors bid $1.2bn for Norwegian software-maker, FT says

OSLO: A Chinese investment consortium is offering $1.2 billion for Norway’s Opera Software, which provides services for apps and web browsers, the Financial Times reported, citing Lars Boilesen, Opera’s CEO. Golden Brick Silk Road, a Chinese investment fund, joined forces with Shenzhen-listed Beijing Kunlun Tech Co and Qihoo 360 Technology, a Chinese firm listed on the New York Stock Exchange, ... Read More »

China’s home loans increase in 2015

BEIJING: China’s outstanding home loans for individual purchase continued to rise in 2015, the People’s Bank of China (PBOC) said in a statement. The figure accumulated to 13.1 trillion yuan (2 trillion U.S. dollars) by the end of 2015, up 23.9 percent year on year, according to the statement. The outstanding real estate loans in 2015 contributed to 22.4 percent ... Read More »

Decline of land sales adds pressure on local governments: Fitch

BEIJING: The fiscal performance of China’s local governments could be pressed by the decline of land sales, a Fitch Ratings report said Thursday. Sales of land-use rights in China fell by 21.4 percent in 2015, the most substantial shrinkage since a 14-percent decline in 2012, according to the report. “Land sales, representing around 27 percent of local governments’ aggregated revenue ... Read More »

Sweden’s central bank cuts negative interest rate further

STOCKHOLM: The Swedish central bank on Thursday sent its key repo interest rate into further negative territory as it said low inflation would linger longer than it had previously predicted. The Riksbank cut its interest rate by 0.15 percentage points to an all-time low of minus 0.50 percent after it introduced a negative rate for the first time a year ... Read More »

World Bank to help Serbia in transition to digital economy

BELGRADE: World Bank is ready to help Serbian economy to develop through implementation of new technologies, said Tony Verheijen, World Bank Country Manager for Serbia on Thursday. Presenting the World Bank’s annual development report, with this year’s topic “Digital Dividends”, Verheijen cited one of its conclusions that “countries who invest more into digital technologies achieve bigger growth”. “We wish to ... Read More »

EU overall employment rate reaches pre-crisis level in Q3 2015

BRUSSELS: Employment and activity rates have continued to increase in the European Union (EU), and in the third quarter of 2015, the overall EU employment rate even reached its pre-crisis level, the EU said Thursday. Meanwhile, unemployment has continued to recede and the share of long-term unemployed persons in total unemployment has slightly gone down, an EU statement said, citing ... Read More »

Philippines Customs seizes smuggled Peking ducks in Batangas

MANILA: Alert operatives of the Customs Intelligence and Investigation Service (CIIS) in the Port of Batangas have seized millions of pesos worth of smuggled frozen Peking ducks from Hong Kong recently. CIIS-Batangas officer-in-charge Manolo Arevalo on Thursday said the shipment was outright seizureable in favor of the government because it lacked the required importation permit from the National Meat Inspection ... Read More »

Chinese customs rejects fewer wines in 2015

BEIJING: Fewer imported wines were rejected by Chinese customs in 2015 amid strong growth in wine import, shows official figures. 284 tons (123 batches) of imported wines were destroyed or returned by the Chinese Customs for quality and packaging problems in 2015, according to the reports released by China’s General Administration of Quality Supervision, Inspection and Quarantine. The number has ... Read More »

Russia aims for customs reforms to speed cargo processing

MOSCOW: Russia’s First Deputy Prime Minister Igor Shuvalov has issued an order to the Russian Federal Customs Service to significantly streamline customs clearance procedures with the aim of speeding cargo handling at Russia’s borders and seaports. The reforms should be completed by May or June after Shuvalov decides on a raft of proposals to speed cargo clearance that are due ... Read More »

Ireland police seize 13kg of cocaine worth €930,000

DUBLIN: A man in 40s has been arrested in connection with an investigation into the seizure of €930,000 worth of drugs. Yesterday evening, gardai searched a house in Tallaght, Dublin 24 and discovered around 13 kilograms of cocaine with an estimated street value of over €930,000. A small quantity of Ecstasy tablets was also seized. A garda spokesperson said the ... Read More »