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Author Archives: CT Report

Ambassador of Italy discusses trade ties with Shahbaz Sharif

LAHORE: Ambassador of Italy in Pakistan Stefano Pontecorvo has held a meeting with Punjab Chief Minister Shahbaz Sharif, here. Both the ambassador and the chief minister discussed the matters of mutual interest, promotion of bilateral relations between Pakistan and Italy and cooperation in agriculture, industry and various other sectors of the economy. The Italian Ambassador and heads of investment companies ... Read More »

Pakistan making gradual progress in tourism sector: Ahmer Malik

LAHORE: Pakistan needs to market itself as tourism destination as it is endowed with beautiful landscapes, scenries, historical heritage and other attractive places for international tourists. These views were expressed by the Chief Executive Officer of Pacific Asia Travel Association Mario Hardy while speaking at the Lahore Chamber of Commerce and Industry. The LCCI Vice President Nasir Saeed, Managing Director ... Read More »

Portuguese exports continue to rise

LISBON: Portuguese exports rose by 0.7 percent against a 0.3 percent increase in imports in the three-month period through to January of this year, the National Institute of Statistics (INE) reported this week. The statistical bulletin stated the Portuguese trade deficit thus closed this period on €2.478 billion, down €28.9 million year-on-year with the coverage rate up 0.3 percent to stand ... Read More »

Vietnam’s benchmark VN Index closes down 0.6%

HANOI: Vietnam’s benchmark VN Index closed down 0.6 percent on Friday on profit-taking, with volume hitting its highest in one-and-a-half years as two exchange traded funds (ETFs) ended their quarterly portfolio restructuring. Trading volume hit 226 million, its highest since Sept. 9, 2014, boosted by trading of Market Vectors Vietnam ETF and db x-trackers FTSE Vietnam ETF, two major ETFs ... Read More »

Poland’s manufacturing remains solid in Feb

WARSAW: Poland’s manufacturing remained on an even keel in January and February. Industrial production surged in headline terms in February; however this was all calendar effect.  Output, in adjusted terms grew 0.2% m/m and around 3% y/y, indicating a stable trend in recent months. Therefore, the data is not spectacular for February, but is encouraging against a backdrop of a ... Read More »

Australian table grape exports soar

CANBERRA: The Australian table grape industry is reaping the rewards of a strong export market, with international demand now outstripping demand on the domestic market. Australian Table Grape Association Chief Executive Officer Jeff Scott says the ratio of domestic to export volumes has switched over the past few years. “We’re sending a lot more overseas now and that’s been a change ... Read More »

Brazil central bank window to lower inflation outlook

BRASÍLIA: Brazilian Central Bank Director Tony Volpon said on Thursday that weaker global growth had given the bank an opportunity to act decisively in bringing down inflation expectations, according to a presentation posted to the central bank website. Read More »

Finland GDP grows by 0.5% in 2015

HELSINKI: The country’s GDP grew by 0.5 per cent 2015, according to the Statistics Finland. The output of the national economy stood at 207 billion euros, while the national income went up by 1.6 per cent in real terms. The total manufacturing contracted by 0.6 per cent. The value added fell most in the manufacture of electrical and electronics industry, ... Read More »

New Zealand shares rise with international markets

WELLINGTON: New Zealand shares rose, following international markets, with Australia & New Zealand Banking Group, Genesis Energy and SkyCity Entertainment Group leading the index. The S&P/NZX 50 advanced 10.5 points, or 0.16 per cent, to 6,573.46. Within the index, 23 stocks rose, 15 fell and 12 were unchanged. Turnover was worth $205 million. The local market lagged behind the rest ... Read More »

Eight pre-qualified firms vie for 3 water projects in Oman

MUSCAT: As many as eight international companies have been pre-qualified to bid for developing independent water projects (IWPs) at Salalah, Shaqiyah and Duqm. The Oman Power and Water Procurement Company (OPWP), which oversees the procurement of all new electricity generation and water desalination capacity in the country, said that these firms comprise a consortium of International Company for Water and ... Read More »

Iran’s oil exports hit 22-month high Jan

TEHRAN: Iran’s oil exports climbed to the highest in 22 months in January when sanctions against its economy ended, opening the way for higher shipments to Asia and new sales to Europe and Africa. Exports rose to 1.55 million barrels a day in January, the highest since March 2014 and 9.2 percent higher than the month before, according to data ... Read More »

Free trade boosts Turkish exports to Palestine

ANKARA: Turkey’s exports to Palestine rose nine-fold over the last decade thanks to a free trade agreement, a senior representative of a Turkish business organization said on Thursday. “Our exports [to Palestine], which totaled $9.4 million in 2005, have since increased nine-fold to reach $82.2 million in 2015,” Mustafa Çıkrıkçıoğlu, deputy chair of the Turkish Exporters Assembly (TIM), said in ... Read More »

NBK plans to sell part of $1.9bn loan

KUWAIT: National Bank of Kuwait (NBK) plans to sell down part of the KD600 million ($1.99 billion) it is contributing to Kuwait National Petroleum Company’s Clean Fuels Project loan to other banks, it said in a statement. NBK and Kuwait Finance House are leading the arranging of the first tranche of the funding, which includes a 10-year, KD900-million loan. The ... Read More »

Sugar exports to surge 80% to 20 LT in 2015-16

NEW DELHI: Sugar exports from India, the world’s second-largest producer, are likely see an over 80 per cent jump to 20 lakh tonnes in 2015-16 marketing year, even as the production is set to drop by 9 per cent. Sugar mills have received contracts to export 14 lakh tonnes (LT) of the sweetener since October and are likely to ship out ... Read More »

South African trade sharply declines in 2015

CAPE TOWN: Although South African container trade started off with a bang in 2015, with the market growing by seven percent during the first half of the year (year on year), the second half of 2015 saw a significant slowdown, recording a one percent decline. This is according to the fourth quarter Maersk Trade Report which reveals that during the ... Read More »

Dubai firm mulls plan for halal food factory in Brazil

DUBAI: Dubai-based Al Islami Foods is planning to open an office in Sao Paulo as it looks to expand its operations in Brazil, it has been reported. The company, which in 2014 said it was looking to create 1,000 new jobs with a factory in Dubai which will triple production levels, is also considering opening a poultry processing plant in ... Read More »

Saudi oil exports rise to 7.835 mln bpd in Jan

RIYADH: Saudi Arabia’s crude oil exports in January rose to their highest level in nine months to 7.835 million barrels per day from 7.486 million bpd in December, official data showed on Thursday. The world’s largest oil exporter and OPEC heavyweight produced 10.230 million bpd in January, a record high, compared with 10.144 million bpd a month earlier, the data ... Read More »

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 »