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India’s forex reserves touch $353.40 bln

NEW DELHI: India’s foreign exchange reserves went up by $2.54 billion to $353.40 billion on March 11, the RBI’s weekly statistical statement showed. According to the Reserve Bank of India (RBI), the total reserves on March 11 stood at $353.40 billion, up from $350.86 billion on March 4, 2016. Out of the total forex, the foreign currency assets stood at $329.99 ... Read More »

Ohio unemployment rate steady in Feb

WASHINGTON: Ohio’s jobless rate in February was unchanged at 4.9 percent, with 12,400 jobs created, a state report on Friday shows. The unemployment rate did not move from January but was down from the 5.1 percent a year earlier, according to the Ohio Department of Job and Family Services. The rate is on par with the national rate for last ... Read More »

U.S kraft paper shipments increase by 7% in Feb 2016

WASHINGTON: U.S. kraft paper shipments in February 2016 were 139.8 thousand short tons, 7% higher compared to February 2015, as the American Forest & Paper Association said in the press release received by Lesprom Network. Bleached kraft paper shipments increased from 6.9 thousand short tons in January to 8.7 and unbleached kraft paper increased from 120.9 to 131.1 thousand short ... Read More »

Utah unemployment rate steady at 3.4%

SALT LAKE CITY: Jobs in Utah are still plentiful, a new report indicates. The state’s nonfarm payroll employment for February 2016 grew by an estimated 3.3 percent, adding 44,700 jobs to the economy compared to the same period last year. The Utah Department of Workforce Services reported Friday that February’s seasonally adjusted unemployment rate was unchanged from the previous month’s ... Read More »

Unemployment in Slovakia reaches 7-year’s low

BRATISLAVA: Slovakia recorded its lowest unemployment rate in the past seven years, stated Slovak Labor, Social Affairs and the Family Minister Jan Richter on Friday. “While the unemployment rate stood at 10.09 percent in February, it’s quite realistic to squeeze it even further this year to around 9 percent,” said Richter. The current unemployment rate in the eurozone is 10.3 ... Read More »

California unemployment rate dips to 5.5%

SACRAMENTO: California’s unemployment rate was 5.5 percent in February, continuing a slight downward trend but remaining higher than the nation’s jobless rate as a whole, state figures indicated Friday. The state added 39,900 nonfarm payroll jobs, according to a business survey cited by the state Employment Development Department. A smaller federal survey estimated nearly 18 million Californians held jobs last ... Read More »

Local unemployment falls in January

WASHINGTON: The local unemployment rate fell seven-tenths of a point in January from the same time last year, according to data released by the Virginia Employment Commission Friday. In the Fredericksburg-area, 4.5 percent of the workforce reported being unemployed, down from 5.2 percent in January 2015. All area localities reported a drop in unemployment. Rates were higher in January than ... Read More »

Singh govt sets wheat procurement target at 1.1m metric tonnes

MIRPURKHAS: Singh government has set the wheat procurement target for the province at 1.1 million metric tonnes for the current year with an increase of 0.2 million metric tonnes over the previous year target of 0.9 tonnes. Sindh Food Minister Syed Nasir Hussain Shah said this while presiding over a high-level meeting to take account of complaints regarding non-opening of ... Read More »

Prime minister values success of Jordan cement industry

AMMAN:  Deputising for His Majesty King Abdullah, Prime Minister Abdullah Ensour on Tuesday inaugurated the INTERCEM international conference for the Middle East and North Africa for cement industries. Ensour highlighted the significance of benefiting from economic opportunities available in the Middle East and enhancing the performance of industrial sectors to face social and industrial challenges. The cement sector has always been ... Read More »

CPEC to lead economic stability in country: Mushahid

ISLAMABAD: Senate Standing Committee on Defence and China-Pakistan Economic Corridor Chairman Mushahid Hussain Syed has said the economic corridor would lead to economic stability in the country. Addressing a book launching ceremony “China’s stories China’s success How China transformed in the past 40 years” by SM Hali, he said that CPEC was a strategic, national project which was above any ... Read More »

Rex Oman increases stake in Masirah Oil

MUSCAT: Masirah Oil Ltd (MOL), which has signed an Exploration & Production Sharing Agreement (EPSA) with the Omani government for Block 50 offshore Oman’s east coast, has announced that its key shareholder Rex Oman Ltd, has increased its stake in MOL from approximately 61.76 per cent to 72.03 per cent. This follows the completion of the allocation made on March ... Read More »

Govt striving to create conducive environment for business, investment activities: Baligh

ISLAMABAD: Muhammad Baligh ur Rehman, State Minister for Federal Education and Professional Trainings said that businessmen were highly respectable segment of the society as they were creating jobs, improving prosperity and playing key role in economic development of the country and government was making strenuous efforts for creating a conducive environment to facilitate the growth of business and investment activities. ... Read More »

Sales tax revenues down 35% from 2015

WASHINGTON: Nothing has changed much with the county’s monthly tax allocations from the office of Texas Comptroller Glenn Hegar as of late. The state’s decline in the energy sector continues to be felt here on the local level. Gonzales County has seen sales tax revenues decrease 35.41 percent from this time last year. Purchases made at county businesses in January ... Read More »

NBU declares bank Petro commerce-Ukraine insolvent

KIEV: The National Bank of Ukraine (NBU) has placed bank Petrocommerce-Ukraine on the list of insolvent banks. The decision is outlined in NBU resolution No. 169 of March 17, 2016. The bank earlier was put to the list of troubled banks due to having the non-transparent ownership structure. In March 2015, a shareholder in the bank – Russia’s Petrocommerce – ... Read More »

Finland households saving rate negative in Q4 of 2015

HELSINKI: The saving rate of the household sector was negative in the fourth quarter of 2015, but it improved compared to the third quarter. Adjusted disposable income describing households’ economic well-being grew year-on-year. The profit share of the non-financial corporation sector weakened compared with the previous quarter but the investment rate grew clearly, according to Statistics Finland’ data derived from ... Read More »

Inflation increases by 0.17% to 214.61pts

ISLAMABAD: The Sensitive Price Indicator (SPI) inflation for the combined income group increased by 0.17 percent for the week ended March 17 According to data of Pakistan Bureau of Statistics (PBS), the SPI for the week under review in the mentioned group was recorded at 214.61 points against 214.24 points registered in the previous week. Similarly, as compared to the ... Read More »

Fall in oil price, recession affect Pakistan’s exports: Dastgir

ISLAMABAD: Decreasing oil prices and recession in the international market have also affected Pakistan’s export. Federal Minister for Commerce Khurram Dastgir Khan said this during the question hour session in the National Assembly. He said that decline in exports was due to decrease in prices of raw material and demand from importer countries. This year Pakistan had exported 1,210 million ... Read More »

Canada’s annual inflation rate fell to 1.4% in Feb

OTTAWA: Canada’s CPI rose by 0.2% on a month-over-month basis (not seasonally adjusted) in February 2016, thereby matching the increase recorded in January; however, the latest month’s increase compared with an energy-driven 0.9% jump in February 2015, and thus, the year-over-year rate of inflation slipped to 1.4% from 2.0% in January. Market expectations had been for a stronger 0.4% monthly ... Read More »

Pakistan, Turkey to sign FTA next week

ANKARA: Pakistan and Turkey will sign a free trade agreement framework on Tuesday to tap the massive potential of bolstering trade between the two countries, Turkish Ambassador to Pakistan Sadik Babur Girgin said on Friday. Turkish Economy Minister will visit Islamabad to sign the agreement between the two countries, which have very close cooperation in diverse fields, including defence and ... Read More »

Utility Stores earned Rs35b profit

ISLAMABAD: The Utility Store Corporation (USC) network has earned Rs 35 billion profit in fiscal year 2014-15. This was revealed by Parliamentary Secretary for Industries and Production Rao Ajmal, while responding to a Calling Attention Notice raised by Abdul Sattar Bachani and others in the National Assembly regarding non-provision of subsidy on the essential commodities at the utility stores that ... Read More »