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Author Archives: CT Report

LCCI can play vital role in normalization of Pak-India ties through trade

LAHORE: Road to normalization of Pak-India relations is only through trade and the Lahore Chamber of Commerce and Industry can play a vital role in this regard. This was stated by the Indian High Commissioner Gautam Bambewale while talking to the LCCI Senior Vice President Almas Hyder at the Lahore Chamber of Commerce and Industry. Former LCCI presidents Mian Muhammad ... Read More »

South Korea to establish biggest advanced IT Park in Pakistan to promote SMEs : Envoy‏

ISLAMABAD: Dr. Song Jong-Hwan, Ambassador of South Korea said that Korea would establish one of the biggest and most advanced IT Park in Islamabad at an area of about 1 million square feet to promote SMEs as the facility would provide SMEs and start-ups in IT industry with office spaces equipped with advanced IT infrastructure and security facilities. He said ... Read More »

SCCI concerns over crime incidents in city

SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) has raised its voice against the rising henious natured crime incidents in Sialkot city here. In a press release issued here, President SCCI Maj(Rtd) Mansur Ahmed has expressed grave concern over the daily rising incidents of dacoity and robbery in Sialkot here, in which he said that the local traders, industrialists and ... Read More »

Greek consumer prices continue to decline in Jan

ATHENS: Greek consumer prices continued to decline in January amid a slump in spending on most goods and services, brought on by the country’s recession. Data from the Hellenic Statistical Authority, Elstat, Wednesday showed that the country’s consumer price index fell 0.7% in January compared with the same period a year earlier. The fall was driven by a 9.5% drop ... Read More »

Bangladesh’s dependence on imports of agricultural inputs

DHAKA: Bangladesh’s dependence on the imports of four major agricultural inputs such as cereal seeds, fertiliser, pesticides and agro-machinery is highest in South Asia, according to a study.  The country imported agro inputs worth US$ 6.805 billion during 2010-2014 and the amount was 12.44 per cent of the region’s total import in the period. At the same time, export of ... Read More »

Postal services restart from India to Nepal

KATHMANDU: Postal services resumed from India to Nepal through Raxaul, a key trade and entry point on Indo-Nepal border, on Monday after six months. The service was disrupted following the Madhesi movement started by the United Democrat Madhes Front (UDMF), who enforced a blockade at entry points of southern border of Nepal for fulfilment of its 11-point demands. Sources said ... Read More »

Iraq Kurds to accept PM’s oil for salaries deal

BAGHDAD: Iraq’s autonomous Kurdish region said Wednesday that it would halt independent oil sales if Baghdad pays its employees, but cast doubt on the federal government’s ability to implement the proposal. Iraqi Prime Minister Haider al-Abadi said earlier this week that he would pay the salaries of the cash-strapped northern region’s employees if it halted the oil sales, which Baghdad ... Read More »

Jordan, Tunisia to organize joint economic activities

AMMAN: Jordan and Tunisia’s commerce and industry chambers agreed to organize and hold joint economic activities. The agreement was reached during the Jordanian Tunisian Business Forum, which was held on Tuesday in Tunis. Jordan will organize the event yearly in May while it will be held in Tunis in September. Participants during the forum, which was opened by Tunisian Commerce ... Read More »

Portugal shows QE limits as euro bond rebound leaves it behind

LISBON: Portugal just can’t shake off its bears. The nation’s bonds are underperforming their counterparts across the euro area even as a recovery in stocks and oil prices boosted demand for higher-yielding assets. The extra yield, or spread, that investors get for holding Portuguese 10-year bonds instead of the benchmark German bund climbed for the first time in four days. ... Read More »

India’s Punj Lloyd wins $304m gas pipeline deal in Oman

MUSCAT: A contract to build a 300-km-long natural gas liquid (NGL) pipeline as part of the $6.4-billion Liwa Plastic Industries Complex was awarded to Punj Lloyd by Oman Oil Refineries and Petroleum Industries Company (Orpic). The Indian conglomerate engaged in engineering, procurement and construction also bagged another contract to build a 301-km-long natural gas pipeline from Oman Gas Company. The ... Read More »

Iran to maintain crude oil share despite price falling to 12-year low

TEHRAN: Iran, unshackled from sanctions last month, “will not forgo its share of the market,” Oil Ministry news service Shana reported, citing Oil Minister Bijan Namdar Zanganeh. He will meet his counterparts from Iraq and Venezuela in Tehran on Wednesday. Iran is the fifth-biggest producer in the Organisation of Petroleum Exporting Countries (Opec), pumping 2.86 million barrels a day in ... Read More »

Poland plans shipbuilding drive

WARSAW: Poland’s development ministry is planning a shipbuilding programme designed to strengthen domestic industry, the Puls Biznesu daily has reported. The main aim of the Batory programme is to build passenger ferries in Polish Baltic Sea docks. The development ministry also wants Poland to focus on producing gas tankers. “Thanks to the measures proposed by the Ministry of Development, Polish ship ... Read More »

Building cost decreases 0.2% YOY in Jan 2016

HELSINKI: Building costs decreased by 0.2 per cent year-on-year in January 2016, according to Statistics Finland’s data. The prices of labour inputs in construction increased by 0.8 per cent. The prices of materials went down by 0.6 per cent and the prices of services by 1.9 per cent from one year ago, the data show. The total index of building ... Read More »

Ukraine reduces exports of barley in 9 times in Jan 2016

KIEV: According to the official customs data, in January 2016 Ukraine exported 21.8 thsd tonnes of barley, as opposed to 200.4 thsd tonnes in December 2015. The major buyer of the Ukrainian grain – Saudi Arabia – significantly decreased its purchases (15 thsd tonnes in January 2016, against 88 thsd tonnes in the previous month), as well as Libya (7 ... Read More »

Total imports of PE into Ukraine fall 14% in Jan

KIEV: Total imports of polyethylene (PE) into Ukraine fell by 14% in January from the previous month to 17,100 tonnes, with imports of all grades lower over the reported period, according to MRC DataScope. The reduction in imports was caused by seasonal factors, with low density polyethylene (LDPE) decreasing most of all. MRC Ukraine PE importsThe structure of PE imports ... Read More »

Vingroup sale earns $1.5 bln in 2015

HANOI: Real estate developer Vingroup (VIC) earned VND33.8 trillion (US$1.5 billion) in sales and VND1.419 trillion ($63.3 million) in after-tax profits in 2015. According to the Q4 financial statement, the consolidated revenue of the group reached VND14.36 trillion ($641.3 million), up 134 per cent compared to the same period last year. In particular, revenues from real estate transfers reached VND10.18 ... Read More »

Pak, Italy needs to enlarge scope of trade ties

ROME: Consul General of Italy Gianluca Rubagotti, while stressing the need to further increase cooperation between Italy and Pakistan, said that both countries must make collective efforts and should focus on enlarging the scope of partnership in trade. “In this regard, the Italian Consulate in Karachi and the Italian Embassy in Islamabad with support from Italian Trade Commission (ITC) are ... Read More »

FlexiGroup H1 cash profit climbs 4% to $44.3 mln

WELLINGTON: FlexiGroup acting chief executive David Stevens says big revenue falls in its leasing arm are being reversed and expects strong interest in solar batteries to boost the earnings of its biggest business, Certegy. On Wednesday, the equipment financier and credit card issuer reported a 4 per cent rise in 2016 first-half cash profit to $44.3 million and confirmed full-year ... Read More »

S. Korea’s imports of steel materials edge down in Jan

SEOUL: South Korea’s imports of steel materials edged down in January from a year earlier due in part to a decline in inflows of Chinese products, industry data showed Wednesday. According to the data by Korea Iron & Steel Association, the country imported 1.94 million tons of steel materials, down 0.1 percent from the same month a year earlier. Imports ... Read More »

South Korea’s currency falls to 6 year low

SEOUL: South Korea’s currency on Wednesday fell to the lowest in almost six years as the US dollar rebounded on risk-averse sentiment and expectations spread for further interest rate cuts in South Korea. The South Korean won finished at 1,227.1 per US dollar, down 10.5 won from the previous session, Xinhua reported. It posted the lowest in five years and seven ... Read More »