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Japan’s TEPCO agrees to floating price for thermal coal

TOKYO: Japanese utility Tokyo Electric Power Co. has opted for a floating market price for its 2016 supply contract for Australian thermal coal, several market sources said Friday. The reference price for the January-December contract is believed to be trading platform globalCOAL’s floating index for Newcastle 6,000 kcal/kg NAR thermal coal, said a number of market sources. It is the ... Read More »

WPG reports record revenues of $4.26 bln for 4Q15

WASHINGTON: WPG, Asia’s largest distributor of semiconductor components, has reported record consolidated revenues of NT$142.62 billion (US$4.26 billion) for the fourth quarter of 2015. The quarter marked the third consecutive quarter that the company has generated record sales. WPG posted revenues of NT$47.94 billion for December 2015, up 21.1% from a year earlier. The company credited the positive results to growing ... Read More »

Finland trade deficit widens in Nov

HELSINKI: Finland’s foreign trade deficit widened in November from a year ago, as exports fell faster than imports, preliminary figures from the Finnish Customs showed. The trade deficit rose to EUR 240 million in November from EUR 134 million in the corresponding month last year. In October, the shortfall was EUR 160 million. The value of exports fell 5.0 percent ... Read More »

Transcend Information revenues down 7.5% for Dec 2015

WASHINGTON: Memory module maker Transcend Information has reported revenues of NT$2.15 billion (US$64.3 million) for December 2015, down 7.5% on month and 2.9% on year. NAND flash and other products accounted for 89.2% of Transcend’s total sales in December, while DRAM products made up the remaining 10.8%. Transcend’s revenues totaled NT$24.91 billion for 2015, representing an on-year 8.5% decrease. In 2015, ... Read More »

Greece to open offers for Piraeus Port

ATHENS: Greek authorities will open financial offers submitted in a tender to buy 67 pct of Piraeus Port Organization, a process characterized as the country΄s biggest challenge so far in its drive to put Greece again in the map of international investment funds. Despite the fact that Hellenic Republic Asset Development Fund has not published the number of binding offers ... Read More »

Rifle sales tax revenue sees 10% rise from 2014

LONDON: Rifle appears poised to close out 2015 with increased sales tax revenue compared with 2014. The numbers in the November 2015 sales tax report, which includes receipts from October, show a 10 percent increase in year-to-date revenue. That amounts to nearly $7.2 million in revenues through October 2015, compared with $6.5 million through the first 10 months of 2014. Motels ... Read More »

Dar launches Pakistan Stock Exchange

KARACHI: Minister for Finance Mohammad Ishaq Dar formally inaugurated the Pakistan Stock Exchange (PSX) which has been formed by  merging Karachi Stock Exchange (KSE), Lahore Stock Exchange (LSE) and Islamabad Stock Exchange (ISE) into one stock exchange. Addressing the ceremony, Ishaq Dar termed the day as a historic one saying that it took 15 years to make dreams true. He ... Read More »

Italy eyes deeper economic reform after positive signs of growth

ROME: Italian President Sergio Mattarella in his New Year speech hailed all positive economic signs the country has seen in 2015 and stressed urgent need in deeper reforms for Italy to go on track in the future. Noting too many young Italians are still without a job and the opportunities contribute to their own future and the country’s growth, Mattarella ... Read More »

DC Thomson revenues down 10% in book sales

WASHINGTON: DC Thomson & Company Limited has said profit for the year to 31st March 2015 was up 23% from £23.6m, despite a 10% drop in book sales. The publisher, which publishes the Sunday Post and the Beano and owns book publisher Parragon, said circulation of its newspapers and magazines were down. However, cover price increases resulted in an overall ... Read More »

Revenues expected to decline 50% in airport

CAIRO: Head of Egyptian Holding Company for Airports and Air Navigation (EHCAAN) Mahmoud Esmat estimated a 50% decline in revenues in second quarter (Q2) of fiscal year (FY) 2015/2016 despite achieving an 18% increase in revenues through the first quarter of current fiscal year. He said both Sharm El-Sheikh and Hurghada airports acquired 70% of total revenues of the Egyptian ... Read More »

Denmark’s foreign trade surplus increases in Nov

COPENHAGEN: Denmark’s foreign trade surplus increased in November, as exports rose and imports fell, figures from Statistics Denmark showed Monday. The seasonally adjusted trade surplus, excluding ship and airplanes, rose to DKK 5.7 billion from DKK 4.4 billion in October. Exports climbed at a faster pace of 1.0 percent month-over-month in November, following a 0.4 percent rise in the prior month. ... Read More »

Exports of goods, machinery from Jordanian free zones reach JD276m

AMMAN: Exports of goods and machinery from Jordanian free zones last December stood at JD276 million. A statement by the Free Zones Corporation said that the value of commodities that were exported from free zones to foreign and local markets in December, reached JD131 million, JD85 million of which went to foreign markets and JD46 million to local markets. “The value ... Read More »

Germany’s trade surplus narrows as imports surge

BERLIN: Germany’s trade surplus in September was lower than expected, as surging imports outstripped exports, a sign that the weakness in emerging markets is forcing the economy away from its long-time reliance on exports. The trade surplus, adjusted for seasonal swings and calendar effects, narrowed to 19.4 billion euros ($20.9 billion) in September from a revised EUR19.7 billion in August, ... Read More »

Zimbabwe Govt orders vehicles worth $50m from Indian Carmaker

HARARE:  The government has ordered vehicles worth $50 million from Indian commercial car manufacturer Ashok Leyland, the company said Friday. The alleged splurge on cars comes at a time the government has made an appeal to the World Food Programme for assistance to feed more than a million Zimbabweans facing hunger after poor harvests last year as another drought looms ... Read More »

German, French industrial production declines in Nov

BERLIN: German industrial output dropped unexpectedly in November, while trade surplus came in below economists’ forecasts for the reported month, adding to signs that the Euro zone’s powerhouse is struggling to gather momentum following a sluggish third quarter. Total seasonally adjusted industrial production declined 0.3% in November from the previous month, falling short of a median forecast rise of 0.5%. ... Read More »

Zimbabwe imports goods worth above $2b from S. Africa

HARARE: Zimbabwe imported goods worth more than US$2bn from South Africa as trade between the two countries reached $3.86bn in the 11 months to November 2015, latest figures show. According to trade data released by the Zimbabwe Statistical Office (Zimstats), Zimbabwe imported goods worth $2 115 671 569 during the period. With the continued depreciation of the rand, South African products ... Read More »

Malaysia’s industrial production index rise 1.8% in Nov 2015

KUALA LUMPUR: Malaysia’s industrial production index (IPI) rose 1.8% in November 2015 from a year ago, but this was slower than economists’ forecast of a 4.1% increase due to slower growth in the manufacturing sector. The Statistics Department said on Monday the slight growth in the November 2015 IPI was supported by positive growth in manufacturing index (4.1%) and electricity ... Read More »

Zimbabwe’s TelOne expects $98 mln Chinese loan in March

BULAWAYO: Zimbabwe’s state owned fixed line mobile operator TelOne says it will start drawing down the $98 million loan facility from China’s Exim Bank to finance its network modernisation programme by the end of this quarter. Zimbabwe and China signed an agreement for the loan in December last year during the visit by Chinese President Xi Jinping. In an emailed response ... Read More »

Copper, nickel prices improve at end of first week of Dec

HARARE: Copper and nickel prices improved at the end of the first week of December despite a downturn in international commodity prices. This came despite international commodity prices going down across the board. In the Reserve Bank of Zimbabwe (RBZ)’s weekly economic review for the first week of December, copper rebounded due to China’s largest producers deciding to scale down on ... Read More »

Bulgarian exports to EU in Jan – Oct 2015 9.0% up y/y

SOFIA: In the period January – October 2015 Bulgarian exports to the EU increased by 9.0% compared to the corresponding period of 2014 and amounted to BGN 24.4 billion. Main trade partners of Bulgaria were Germany, Italy, Romania, Greece, France and Belgium which accounted for 69.2% of the exports to the EU Member States, Bulgaria’s National Statistical Institute (NSI) announced. ... Read More »