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Author Archives: CT Report

National Assembly launches social media accounts

ISLAMABAD: National Assembly of Pakistan has launched its official social media accounts for wider parliamentary outreach to the public. The decision was taken in a meeting chaired by National Assembly Speaker Sardar Ayaz Sadiq at Parliament House here, said a press release issued here. Sardar Ayaz Sadiq underlined the need to develop new strategies and policies to support effective engagement ... Read More »

Saudi exports rise to 54 million tonnes in 2015

RIYADH: The volume of Saudi exports in 2015 surged to 54 million tonnes at a value of SAR158 ​​billion, compared with 2014 when they amounted to 53m tonnes valued at SAR194bn. Eisa Al-Eisa, a spokesman for the Saudi Customs, told Al Eqtisadiah that imports touched 83m tonnes in 2015 at a value of SAR640bn, as against 85m tonnes, valued at ... Read More »

Russian gas exports to Europe increased 8% in 2015

MOSCOW: Russian natural gas exports to Europe rose by nearly eight percent in 2015 despite tensions with the West over Ukraine, Russian gas giant Gazprom announced January 11. Aleksei Miller, head of the state-run firm, said it exported 159.4 billion cubic meters of gas to states that were not previously part of the Soviet Union — mostly nations in Europe ... Read More »

Exports increased by 7.58% to $1.788b in Dec

ISLAMABAD: The merchandise exports from the country surged by 7.58 percent to $1.788 billion in December as compared to the previous month’s exports of $1.662 billion. According to the Pakistan Bureau of Statistics revealed data, released on Tuesday, the imports of goods in December 2015 decreased by 0.59 percent from $3.866 billion in November 2015 to $3.843 billion in December ... Read More »

Singapore economy slows amid Asian export slump

SINGAPORE: Singapore’s trade-dependent economy grew by an estimated 2.1 percent last year, its worst performance since the 2009 recession, as international demand for Asian exports slumped, official data showed yesterday. The GDP expansion figure, down from 2.9 percent in 2014, was based on advance estimates that GDP in the fourth quarter of last year rose 2.0 percent year-on-year. Last year’s ... Read More »

Inflation drops to 1.9%: NA told

ISLAMABAD: Parliamentary Secretary for Finance Rana Mohammad Afzal Tuesday told the National Assembly that inflation has come down to 1.9 percent. The parliamentary secretary revealed this while responding to a resolution. He further said that food inflation is one percent and non-food inflation is two percent. He said that the government should take steps to control the price-hike in the ... Read More »

Ukraine starts market for Canadian meat imports

KIEV: Ukraine in the scope of a free trade zone agreement has allowed imports of pork and beef from Canada without any additional certification, according to a press release by the Canadian Ministry of Agriculture. “Ukraine has permitted beef and pork imports from any federally registered processing plant that meets current certification,” the press release reads. The Ukrainian side took ... Read More »

German exports drop in October

FRANKFURT: Germany’s trade with the rest of the world weakened in October, as exports and imports declined from September, in a trend that is already pushing Europe’s largest economy away from its long-time reliance on exports. Germany’s goods exports, adjusted for seasonal swings and calendar effects, declined 1.2% from September, as imports dropped 3.4%, the Federal Statistical Office said Wednesday. ... Read More »

Japan stainless steel scrap imports surge over 20% in Nov 2015

TOKYO: According to latest statistics released by Japan’s Ministry of Finance (MoF), the country’s imports of stainless steel scrap increased considerably during the month of November last year. The imports during the month witnessed rise of 20.9% when compared with the previous month. The stainless steel scrap imports by Japan totaled 8,767 tons in November. Japan had imported 7,251 tons ... Read More »

Inception of Plant-III enhances production capacity of Adhi field

ISLAMABAD: The Pakistan Petroleum Limited (PPL) Tuesday said that after the inauguration of third plant, the capacity of the Adhi Field has significantly increased to produce gas, natural gas liquid (NGL) and liquefied petroleum gas (LPG). The newly-inaugurated Plant-III has the potential to produce 25mmscfd (million standard cubic feet per day) gas, 5,300bbld (billion barrels liquid per day) NGL, and ... Read More »

Norway exports 108.4 bcm of pipeline gas to Europe in 2015

OSLO: Norway exported 108.4 billion cubic metres (bcm) of pipeline gas to Europe in 2015, a more than 7 percent rise of over 7 bcm from the previous year, final figures from gas system operator Gassco showed on Monday. It was slightly less than preliminary data showed on Jan. 4, but still a record high, securing Norway’s place as Western ... Read More »

Foreign currencies equivalent to Rs 56 lakh seized

KOCHI: Air Intelligence Unit of the Customs in Kochi international airport has seized foreign currencies equivalent to Rs 56 lakh from a passenger, who tried to smuggle the currencies to Sharjah by an Air India Express Flight. Customs officials said the personnel of Air Intelligence Unit late last night effected the seizure of Saudi Riyals 3,12,000, USD 4150 and UAE ... Read More »

Sri Lanka Customs launches Single Window System

COLOMBO: Sri Lanka has been linked up with high tech Single Window program implemented worldwide to facilitate the export-import process of the country. Finance Minister Ravi Karunanayake launched the Sri Lanka Customs Single Window System enabling the Custom Department to do away the system overlapping that will otherwise require submitting and processing the same information on numerous occasions to different ... Read More »

Japan posts current account surplus for 17th month in Nov

TOKYO: Japan posted a current account surplus for the 17th consecutive month in November as a sharp drop in crude oil prices continued to reduce imports and a weaker yen helped lift the travel surplus, the government said Tuesday. The surplus in one of the widest gauges of a country’s international trade grew 2.6-fold from a year earlier to 1.14 trillion ... Read More »

Pakistan Post launches cash on delivery service

ISLAMABAD: Pakistan Post Office has launched the cash on delivery Service in the federal capital to compete with the private sector. As Pakistan Post is increasingly moving into field of electronic services, the launching of CoD is a big step taken to facilitate people. Sources at Pakistan Post Tuesday said the “Cash on Delivery” service is one of the most ... Read More »

Japan’s naphtha imports for petrochemical sector fall 2% in Dec

TOKYO:  Japan’s naphtha imports for the petrochemical sector fell 2 percent in December from the same month a year earlier, government figures showed on Tuesday. Imports of naphtha for ethylene production totalled 1.34 million tonnes last month, down from 1.36 million tonnes in the same month a year earlier, the Ministry of Economy, Trade and Industry said. Read More »

Goldman Sachs sees $64 bln in buybacks rescuing Japan stocks

TOKYO: After Japanese stocks’ worst start to a year on record, Goldman Sachs Group Inc. has a $64 billion reason to keep the faith. Companies will buy back a record 7.5 trillion yen ($64 billion) of shares in the 12 months starting April, after 5.9 trillion yen of repurchases in the current fiscal year, strategists including Kathy Matsui wrote in ... Read More »

Danish delegation in Iran eyes shipping, energy deals

COPENHAGEN: Danish companies are eyeing a series of energy and shipping projects in Iran following a visit this week by the country’s foreign minister, officials said on Tuesday. The Danish foreign ministry said its minister, Kristian Jensen, travelled to Tehran with a delegation representing 58 companies on Monday and that exports could increase by 500 million Danish crowns ($72 million) ... Read More »

Kenya, Canada to sign investment promotion deal

OTTAWA: Kenya and Canada are set to sign an agreement on the promotion of investments and trade between the two countries, officials said. Canadian High Commissioner to Kenya David Angell said in Nairobi that the two governments are talking to each other and the two foreign affairs ministers have reaffirmed their commitment to signing the deal. “I hope the deal ... Read More »

Australia to increase crocodile exports

CANBERRA: Crocodiles have been a protected species in Australia for decades; the resulting population explosion is endangering the human population, and the Northern Territory government wishes to profit from this by exporting excess crocs, eggs and skins. The new Trade Management plan will allow them to increase exports: “This represents a 40 percent increase for eggs and a 100 percent ... Read More »