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Karachi Port’s shipping intelligence report

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Wednesday. ALONG SIDE (Bulk Oil Pier): OP-I New challenge D. Petrol Wihelmsen 27/02/16 OP-II Mid Fortune D. Chemical East Wind 01/02/16 OP-III Bunga Laurel D. Chemical Alpine 01/02/16 ALONG SIDE (East Wharves): 1 EL Zorro L.Naptha Alpine 29/02/16 4 Spar ... Read More »

Shipping movements report of KPT

KARACHI: Following were the Movements of Ships at Karachi Port Trust (KPT) during the last 24 hours, ending at 0700 hours on Wednesday. SHIPS SAILED: SCL Leman G.C Navig 8 Azurite Tanker Senanur Cebi Coal BW Lioness Tanker ACX Crystal Cont Hanne Danica G.C Mohar Cement Sima Prestige Cont APL Germany Cont Positive Pioneer Vehicle SHIPS BERTHED: Hanne Danica General ... Read More »

Surplus of Ukraine’s balance of payment in Jan $120 mln

KIEV: The surplus of Ukraine’s balance of payment in January 2016 reached $120 million, while a year ago its deficit was $890 million, the National Bank of Ukraine (NBU) has reported on its official website. The central bank said that the deficit of the current account in January was $379 million ($288 million in January 2015). Exports fell more quickly ... Read More »

Iqbal assumes charge as Chief (Int’l Taxes)

ISLAMABAD: Muhammad Iqbal, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Chief (International Taxes), Federal Board of Revenue (HQ). The officer, pursuing the Board’s Notification No. 0599-IR-I/2016, dated 02.03.2016, relinquished the charge of the post of Chief (Administration), FBR (HQ), Islamabad with effect from March 02. Read More »

France’s car sales climb 13% in Feb

PARIS: France sold more new cars in February compared to the same month last year, the French car sales federation (CCFA) said on Tuesday. At the end of February, local car manufacturers sold 199,948 units across France, up from 176,993 vehicles sold the same month in 2015. Sales of French brands grew by 12.1 percent mainly due to growing sales ... Read More »

Swiss Life raises dividends

GENEVA: Swiss Life Holding AG, Switzerland’s biggest life insurer, plans to pay dividends above estimates after higher fee income lifted full-year profit by 7 percent. Swiss Life proposed a payout of 8.5 Swiss francs per share for last year, up from SF6.50 a year earlier, the company said in a statement yesterday. That beat the Bloomberg Dividend Forecast of SF8. ... Read More »

Dr Tariq Ghani takes charge as Chief (Admn) (OPS)

ISLAMABAD: Dr Tariq Ghani, a BS-19 officer of Inland Revenue Service, has assumed the charge of the post of Chief (Administration) (OPS), Federal Board of Revenue (HQ). The officer, in pursuance of Board’s Notification No. 0599-IR-I/2016, dated 02.03.2016, relinquished the charge of the post of Chief (BTB) (OPS), FBR (HQ), Islamabad with effect from March 02. Read More »

Zalando forecasts growth

BERLIN: Zalando SE, Europe’s biggest online fashion retailer, forecast sales growth near the high end of its projected range this year as it gains more customers. Revenue growth is to be closer to 25 percent than 20 percent, the Berlin-based company said in a statement yesterday. Earnings before interest and tax are to be between 3 percent and 4.5 percent ... Read More »

Pak rupee strengthens in cash-free market

KARACHI: The Pakistani rupee Wednesday slightly strengthened against the US currency in open market and remained unchanged in interbank. According to the local money market, the greenback lost five paisas in open market for selling at 106.20 and remained firm in interbank at 104.40. On Tuesday, the dollar gained 30 paisas in open market to reach 106.25 and remained unchanged ... Read More »

Qaisar Roomani posted as Assist Accounts Officer in I&I wing

ISLAMABAD: Qaisar Roomani Talib, a Senior Auditor (BS-16), who joined Federal Board of Revenue (HQ), on February 18, has been posted in Directorate of Intelligence & Investigation-FBR, Faisalabad as Assistant Accounts Officer, in his own pay and scale with immediate effect. Meanwhile, Liaquat Ali Khan, a BS-18 officer of Audit & Accounts Group, presently posted at Regional Tax Office, Islamabad, ... Read More »

Nikkei Taiwan PMI drops below 50

TAIPEI: The Nikkei Taiwan Manufacturing Purchasing Managers’ Index (PMI) slipped to 49.4 last month, down from 50.6 in January, indicating a renewed deterioration in operating conditions for local manufacturers due to a drop in new business orders and output. “Operating conditions deteriorated last month after a slight improvement in January amid reports of weaker economic conditions and softer client demand,” ... Read More »

Indonesia to ease mineral export ban from 2017

JAKARTA: The government of Indonesia will relax next year its ban on partially processed minerals exports, including copper, nickel, zinc and bauxite ore order to prop up its economy. According to the country’s mining minister Sudirman Said, the review of the metal exports rule is part of a wider revision of the 2009 mining law that led to the export ... Read More »

Customs Dept. sets up 24/7 hotline to provide speedy solutions

COLOMBO: The Sri Lanka Customs Department has begun operating a 24/7 customer hotline to help solve any customs issues within 8 days. “We want to make Sri Lanka Customs free of any delays or harassments. That’s why we have set up a 24/7 hotline. Under the new government, our Customs should be friendly,” Finance Minister Ravi Karunanayake said. He said ... Read More »

Ukraine’s Jan-Feb gas imports down by 50%

KIEV: Ukraine almost halved its natural gas imports in the first two months of 2016 to 2.1 billion cubic metres (bcm) and all of it came from the European Union, pipeline operator Ukrtransgaz said on Wednesday. Ukraine imported 4.1 bcm of gas in January-February last year, including 2.3 bcm from Russia. Ukraine has said it is likely to cut its ... Read More »

Italy logs record income from unpaid tax recovery

ROME: Italy recovered a record 14.9 billion euros ($16.2 billion) in unpaid tax in 2015, following a fresh no-questions-asked appeal to suspected dodgers to put their financial affairs in order. The national tax agency said Tuesday the total sum raised from anti-evasion campaigns was up from 14.2 billion in 2014 and had more than tripled in the last decade. Some 315,000 ... Read More »

Australia GDP growth hits 3% in 2015

CANBERRA: Australia’s economy grew more than expected in the fourth quarter, delivering a boost to the government of Malcolm Turnbull in an election year and defying fears over the impact of China’s slowdown. Gross domestic product grew a seasonally adjusted 0.6 per cent quarter-on-quarter in the three months to the end of December, thanks to a boom in household consumption ... Read More »

Qatar-Italy trade reaches $3bn in 2015

DOHA: The total trade exchange between the two countries reached about $3bn in 2015, accounting for 2.8 percent of Qatar’s foreign trade said Minister of Economy and Commerce, H E Sheikh Ahmed bin Jassim Al Thani yesterday at the Qatar-Italy joint committee meeting. The fourth session of Qatar- Italy joint committee for economic cooperation was held yesterday and chaired by ... Read More »

Arab govt debts rise sharply in 2015: S&P – $134bn seen in 2016

KUWAIT CITY: Borrowing by leading Arab governments has more than doubled last year and is forecast to remain high in 2016, Standard and Poor’s ratings agency reported on Tuesday. The debt taken by 11 Arab nations rated by the agency, including the oil-rich Gulf Cooperation Council (GCC) states, shot up to $143 billion last year from $70.6 billion in 2014, ... Read More »

Petronas Chemicals to spend $4b for refinery, petrochem plant

KUALA LUMPUR: Petronas Chemicals Bhd., a unit of Malaysia’s state energy company, will spend US$4bil over the next five years to mostly invest in a refinery and petrochemicals complex spearheaded by its parent in Johor state. The company predicts a “tougher” 2016 because of a plunge in crude and an oversupply that’s pushed down product prices, Chief Executive Officer Sazali ... Read More »

Vietnam’s PMI declines in Feb

HANOI: The Purchasing Managers’ Index (PMI) of Viet Nam dipped to 50.3 in February, down from 51.5 in January, but remained above the 50.0 no-change mark, according to a Nikkei report released yesterday. February saw a further modest improvement in business conditions in the Vietnamese manufacturing sector, as growth continued in output, new orders and employment. But the respective increases ... Read More »