Sunday , December 8 2019
Breaking News
Home / Author Archives: CT Report (page 3269)

Author Archives: CT Report

Caixin China manufacturing PMI edges down by 48.2 in Dec

BEIJING: The Caixin General China Manufacturing Purchasing Managers’ Index (PMI), an indicator of manufacturing activity, edged down to 48.2 in December from November’s 48.6 percent, a private survey showed Monday. The reading was the lowest since September, according to the survey conducted by financial information service provider Markit and sponsored by Caixin Media Co Ltd. A reading above 50 indicates ... Read More »

China’s express deliveries booming in 2015

BEIJING: China’s express delivery sector has grown steadily in 2015 despite a slowing economy, data showed on Monday. In 2015, businesses made 20.65 billion deliveries, 48 percent up from 2014, according to the State Post Bureau (SPB). The total revenue of the courier market hit 276 billion yuan ($42.44 billion) in 2015, up 35 percent year on year, the SPB ... Read More »

China’s IPO fundraising to hit $40b in 2016

BEIJING: Fundraising by China’s new IPOs in 2016 is estimated to hit 250 billion yuan ($40 billion) to 300 billion yuan this year, making the A-share IPO market the biggest one globally, accounting firm PricewaterhouseCoopers said on Monday. The number of new IPOs is expected to reach 400, fueled by the registration-based IPO system and the launch of the Strategic ... Read More »

Yuan falls after reference rate cut

BEIJING: The yuan fell again yesterday after China’s central bank set the reference rate at the lowest since May 2011 amid pessimism in the market. The yuan shed 0.3 percent from last Thursday to 6.5172 per US dollar yesterday, the weakest in nearly 5 years. This came after the People’s Bank of China yesterday lowered the central parity rate to ... Read More »

World Bank lauds govt’s reform policy

ISLAMABAD: The successful implementation of difficult but much needed reforms by the government has improved the image of the country internationally. This was stated by World Bank Executive Director Nasir Mahmood Khosa during a meeting with Finance Minister Mohammad Ishaq Dar. Khosa briefed the finance minister regarding the upcoming visit of the World Bank’s president to Pakistan. According to a ... Read More »

Samsung expects poor business state in 2016

SEOUL: South Korean tech giant Samsung Electronics Co said it expects a difficult business environment in 2016 due to weak global economic conditions and heightened competition in key businesses including memory chips and smartphones. In a statement yesterday, Samsung said Chief Executive Kwon Oh-hyun told employees in a New Year’s address that low global growth will persist this year, with ... Read More »

UAE imports 412,400 cu m of softwood

ABU DHABI: UAE imported approximately 412,400 cu m of softwood lumber from main European and North American exporters between January and July 2015, said the organisers of the upcoming Dubai WoodShow, citing an industry report. The 11th edition of the largest trade fair for wood products in the Middle East will take place from April 4 to 6 at Dubai World ... Read More »

Auto sales in S.Korea hits 19-year high in 2015

SEOUL: Auto sales in the South Korean market by five domestic carmakers hit the highest in 19 years in 2015 due to demand for cars made by the country’s top two automakers Hyundai and Kia, industry data showed Monday. Local car sales by Hyundai, Kia, GM Korea, Renault Samsung and Ssangyong reached 1,579,706 units in 2015, up 8.7 percent from ... Read More »

S.Korea posts longest current account surplus for 45 months

SEOUL: South Korea’s economy posted the longest current surplus for 45 months in a row due to faster fall in imports than exports, keeping a so-called recession-type surplus trend, central bank data showed on Tuesday. Current account surplus reached 9.40 billion U.S. dollars in November, up from a surplus of 9.12 billion dollars in October, according to the Bank of ... Read More »

Italian pork imports fall in first 9 months of 2015

ITALY: Italy imported slightly less fresh and frozen pork, year-on-year, in the first nine months 2015 but increased its intake of live pigs by more than a quarter, according to AHDB Pork. Pork imports finished 1% down for the nine-month period, at 757,200 tonnes, with the trade being dominated by supplies from Germany, which accounted for 261,700 tonnes. That was ... Read More »

British manufacturing PMI downs to 51.9 in Dec

LONDON: The British manufacturing Purchasing Manager Index (PMI), a gauge of industry activities, registered 51.9 in December 2015, down from 52.5 (originally reported as 52.7) in November, survey provider Markit released on Monday. Manufacturing production expanded for the 33rd successive month in December. The consumer goods sector remained the prime driver of production and new order growth, despite seeing its ... Read More »

Mercedes-BMW crisis with German Customs in 2015

BERLIN: German Mercedes and BMW submitted a plaint to the Minister of Finance about their objection on the cars prices issued by the Customs Authority. These prices were approved since the prices upon which customs are determined. Legal Consultant of the Customs Authority Salah El-Masry believes the Authority has the right to liquefy the safety deposits presented by the two ... Read More »

Import volumes rise 4% at port of New York, New Jersey

WASHINGTON: Imports at the container ports surrounding New York Harbor grew in November compared with a year earlier, after falling in October during a weak holiday shipping season, the Port Authority of New York and New Jersey said Monday. Loaded import TEUs — or twenty-foot equivalent units, a common measure of container capacity — rose 4% in November compared with ... Read More »

Don’t make CPEC controversial, Ahsan asks Imran

ISLAMABAD: Federal Minister for Planning, Development and Reforms Ahsan Iqbal has said that the China-Pakistan Economic Corridor (CPEC) is a mega project, asking Pakistan Tehreek-e-Insaf Chairman Imran Khan not to make this project controversial. Talking to a private news channel, the minister said that he had already briefed on CPEC in all parties conference in which PTI members were also ... Read More »

Uganda police investigate reports 80kg of seized cocaine missing

KAMPALA: Ugandan police said Monday they were investigating reports nearly $4 million worth of cocaine seized by customs officers at its main airport had disappeared from secure stores. National police chief Kale Kayihura has set up “a task team to conduct an audit into the control and accountability of drug exhibits at the Aviation Police Headquarters,” police spokesman Fred Enanga ... Read More »

Indian authorities seize red sanders worth Rs 30.8 million

ANDHRA PRADESH: Red sanders smuggling, since the beginning of New Year, continued unabated in the Seshachalam forests and areas surrounding the temple city, while combing parties seized logs on a big scale in three incidents here on Monday. In the first incident near A. Rangampet village of Chandragiri mandal, the combing party seized 12 red sanders logs from the boot ... Read More »

Indian Govt takes decision to close ports to apple exports

NEW DELHI: In September the Indian government took the decision to close all but one of the country’s ports to apple exports. This decision could have a huge effect on Washington which has been India’s third-largest apple exporter in recent years. The Indian government’s decision was a surprise, and despite diplomatic efforts, it’s still not clear if the order will ... Read More »

Indian police seize 300kg  ganja

VISAKHAPATNAM: The V. Madugula police arrested four members, including two-inter State ganja smugglers and seized around 300 kgs of dry ganja, which they were trying to transport to Tamil Nadu in a van near the ghat road in V. Madugula on Monday morning. The arrested were identified as Sarvanan and Selvan, who hail from Tamil Nadu, while others were S. ... Read More »

Nigeria’s NDLEA seized 907.4kg hemp in 2015

ABUJA: National Drug Law Enforcement Agency (NDLEA),   Seme Command in Lagos State, yesterday, said it seized 907.4 kg of hemp in 2015. The Commander, Mr Udotong Essien, told the News Agency of Nigeria (NAN) in Badagry that 31 suspects were arrested during the same period. He said 22 of the suspects had been convicted by the courts. “From January to ... Read More »

Singapore’s ICA seizes 3,750 contraband cigarette cartons

SINGAPORE: More than 3,750 cartons of contraband cigarettes were found stashed in two Malaysia-registered vehicles at Singapore’s land checkpoints in the past few days, said the Immigration and Checkpoints Authority (ICA) on Monday. Last Friday, ICA officers found 2,600 cartons of contraband cigarettes among boxes of frozen vegetarian products on a Malaysia-registered lorry at Woodlands Checkpoint. The vehicle, driven by ... Read More »