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Author Archives: CT Report

Saudi Arabia to join April oil producer meeting in Doha

KUWAIT: Saudi Arabia will join a meeting of producers from within and outside OPEC in Doha next month, adding weight to the campaign by financially stricken crude exporters to freeze output and overcome the supply glut that’s weighing on the market. Qatar’s oil minister said that countries would meet in the nation’s capital Doha on April 17, without providing details ... Read More »

Japan’s imports of furniture decrease 2% in 2016

TOKYO: Japan’s imports of bedroom furniture continue to rise, a trend that began in September 2015. Year-on-year, January 2016 imports were down 2% but were the highest since February 2015, ITTO reported. The main supplier at 59% of all bedroom furniture imports was China, followed by Vietnam (29%) and Thailand, a distant 3%. China’s January shipments of bedroom furniture were virtually ... Read More »

Thailand’s fruit imports rise 18% YOY in 2015

BANGKOK: Thailand’s fruit imports rose 18% year-on-year in 2015 to reach more than half a million metric tons (MT), with apples leading the pack and melons showing the highest percentage growth. Thai Customs Department statistics show apple imports rose 23% to reach 159,510MT, followed by table grapes which had growth of 45% to hit 127,400MT, and mandarins which were one ... Read More »

South Korea thermal coal imports slump 15% in Feb

SEOUL: South Korea imported 7.1 million mt of thermal coal in February, falling 15.2% from 8.37 million mt in January and down 14.7% from 8.32 million mt in February 2015, according to customs data released late Wednesday. Of the February total, 6.6 million mt was bituminous coal while the remaining 487,519 mt was sub-bituminous coal. For the first two months ... Read More »

EU wood product imports at high level in 2015

WASHINGTON: The total value of EU imports of wood products was euro17.20 billion in 2015, 12% more than in 2014. This followed an increase of 10% to euro15.3 billion in 2014. In 2015 EU import value was at the highest level since 2008 just before the global financial crises. The surge in the euro value of imports in 2015 was ... Read More »

Council of ministers approves proposal on port concession

WILLEMSTAD: The Council of Ministers approved a proposal by the Minister of Economic Development, Eugene Rhuggenaath on a proposal, which should lead to a new concession for the stevedoring operations at the port. With this proposal the negotiations, between Curaçao Ports Authority (CPA) and Curaçao Port Services (CPS), which were discontinued by the CPS on February 23, can continue. Minister ... Read More »

Ukrainian Seaports Authority signs MOC with Bulgarian Ports

KIEV: Ukrainian Seaports Authority says it signed the Memorandum on cooperation with Bulgarian Ports Infrastructure Company during its working visit to the Republic of Bulgaria. The sides agreed to deepen cooperation and develop business relations. In the framework of the Memorandum the two companies has determined some pilot projects on informational exchange on procedures for approach/departure of ships, as well ... Read More »

Port of Long Beach to see 5% cargo growth in 2016

LONDON: The Port of Long Beach, the second largest port in the United States, will see 5 percent growth in cargo volume this year as a strong U.S. dollar spurs consumer demand, the west coast port’s chief executive said on Thursday. The port, which handles 20 percent of U.S. cargo, mainly from east Asia, just posted its strongest February on record, ... Read More »

CKH Holdings ports revenue falls by 5%

WASHINGTON: CK Hutchison Holdings (0001) reported today the revenue, before additional contributions, of HK$33.76 billion dropped by 5 percent due to the adverse foreign currency translation to Hong Kong dollars. In local currency terms, revenue was 2 percent higher compared with 2014. Throughput increased by 1 percent to 83.8 million twenty-foot equivalent units in 2015, the company reported. After the reorganization, ... Read More »

South Carolina Ports Authority exports two millionth SC made BMW

WASHINGTON: The South Carolina Ports Authority exported the two millionth BMW manufactured in South Carolina, a milestone celebration of the Port’s longstanding partnership with the nation’s top vehicle exporter by value. SCPA and BMW officials commemorated the two millionth BMW vehicle manufactured by Plant Spartanburg and exported through the Port of Charleston. SCPA and BMW commemorated the two millionth BMW ... Read More »

Tablet shipment reaches 4.4 mln in India

NEW DELHI: Buoyed by government purchases, tablet PC shipment in India grew 13 per cent to reach 4.4 million in 2015, with low-cost device maker Datawind and Pantel emerging as top players in the segment. “4.4 million tablet PCs were shipped in India in 2015, registering a growth of 13 per cent compared with 2014,” CyberMedia Research said in its ... Read More »

PC shipments rise 10.6% in Q4 of 2015

WASHINGTON: Personal computer (PC) shipments in India totalled around 2.6 million units in the fourth quarter of 2015, a 10.6 percent increase over the corresponding period of 2014, according to information technology research and advisory company Gartner. ”Consumers accounted for 40 percent of total PC sales in the fourth quarter of 2015, down from 52 percent in the fourth quarter ... Read More »

SC suspends SHC order to cross Ayyan’s name off ECL

ISLAMABAD: The Supreme Court has suspended the decision of Sindh High Court (SHC) for removing the dollar girl Ayyan Ali’ s name from Exit Control List (ECL) and sought a reply from respondent within a week. A three-member bench headed by Justice Ijaz Afzal Khan, comprising Justice Qazi Faiz Esa and Justice Maqbool Baqar heard the appeal filed by Islamabad ... Read More »

RTO sales tax collection up 75pc  in 7 months

LAHORE: The office of Chief Commissioner Inland Revenue Regional Tax Office (RTO) conducted 112 raids up to February 2016. The RTO also collected Rs 897 million under the head of sales tax as compared to Rs 281 million during the same period last year. Chief Commissioner Tasneem Rehman said that the growth was achieved due to untiring efforts of the ... Read More »

Dar chairs briefing session on IDA-18 Replenishment

ISLAMABAD: Federal Finance Minister, Ishaq Dar here chaired a briefing session on the IDA-18 Replenishment process. Secretary Economic Affairs Division(EAD) briefed the Minister about the deliberations held by the World Bank Group on IDA-18 replenishment process at Paris from 13-15 March 2016. The deliberations he said were attended by 48 IDA donors and 14 IDA beneficiary countries representatives. Pakistan represented ... Read More »

Chinese entrepreneurs want to contribute for economic development of Pakistan

ISLAMABAD: A high powered Chinese delegation led by Huang Zhigang, Secretary General, Communist Party No.13 Division of Xijiang region visited Islamabad Chamber of Commerce and Industry and showed interest for joint ventures and investment in Pakistan. The delegation was comprised of government officials and owners of some big private enterprises of Xijiang region. Speaking at the occasion, Huang Zhigang said ... Read More »

Govt asked to announce new trade policy

SIALKOT: Sialkot Chamber of Commerce and Industry (SCCI) Senior Vice Chairman Muhammad Sarafraz Butt has asked the government to announce new trade policy without further delay. While talking to customs today here on other day, Butt said that trade and industrial policy was the need of the hour so that industrialists and exporters could ascertain the government priorities The inordinate ... Read More »

Spanish investor should avail opportunities through joint ventures: LCCI

LAHORE: Pakistan has a lot to offer the Spanish investors therefore they should join hands with their Pakistani counterparts and avail the opportunities through joint ventures. These views were expressed by the LCCI Vice President Nasir Saeed while talking to the Economic and Commercial Counselor of Spain Erik Rovina here at the Lahore Chamber of Commerce and Industry. Honorary Consul ... Read More »

President signs customs reauthorization act

WASHINGTON: On February 24, 2016, President Obama signed the Trade Facilitation and Trade Enforcement Act of 2015 (“the Act”) into law. The president hailed the Act as a way to strengthen U.S. trade enforcement, combat evasion of enforcement actions, and improve transparency, accountability, and coordination in enforcement efforts. Despite the continued acrimony in Congress, lawmakers in both houses spent the ... Read More »

Amman Chamber of Industry, EBRD join forces to help SMEs

AMMAN: The Amman Chamber of Industry (ACI) and the European Bank for Reconstruction and Development (EBRD) agreed on Wednesday to cooperate in helping small- and medium-sized enterprises develop through providing support in the administrative, technical and financial fields. ACI President Ziad Homsi and Heike Harmgart, EBRD head of office in Amman, signed a memorandum of understanding to this effect on ... Read More »

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