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Israel’s polished diamond exports fall 20% in 2015

JERUSALEM: Israel’s polished diamond exports slumped 20 percent to $5 billion in 2015 because of a drop in demand in key markets and a mismatch between the prices of polished and rough gems, according to the Ministry of Economy. Polished exports to the U.S., Israel’s largest diamond-trade partner, dived 16 percent to $2 billion and outbound shipments to Hong Kong ... Read More »

Jordan imported JD740m worth of used cars in 2015

AMMAN: Jordan imported used cars worth almost JD740 million in 2015, registering a 16.5 per cent increase over 2014, a sector leader said Tuesday. Jordan Free Zone Investors Association (JFZIA) President Nabil Rumman said 74,301 used cars entered the Kingdom last year, compared with 62,047 vehicles valued at around JD650 million in 2014. Rumman attributed the increase to the incentives ... Read More »

Ukrainian wheat, barley exports higher in current season

KIEV: In the current season grain exports from Ukraine are higher than last one. Since the beginning of 2015/16 marketing year Ukraine has exported 20 MMT of grain, which is 18% more than during the same period last year. Over six months of the season Ukraine exported nearly 10.33 MMT of wheat. The exports were 31% higher than last season ... Read More »

Trade ministry issue license for imports of 198,000 cows

JAKARTA: The trade ministry has issued license for the imports of 198,000 feedlot cows in the first quarter of 2016. Acting Director General for Foreign Trade Karyanto Suprih said imports would be made from Australia . “There has been no other choice of suppliers,” Karyanto said here on Tuesday. This year, the government plans to import 600,000 feedlot cows. Business players ... Read More »

PM urged to pass on impact of declining oil prices to textile industry

  KARACHI: The textile industrialists have asked Prime Minister Nawaz Sharif to pass on the impact of falling oil prices in full to the industry. All Pakistan Textile Mills Association (Aptma) Chairman Tariq Saud, in a statement, said that high cost of doing business had created a hole in the viability of textile industry, particularly the large section dependent on ... Read More »

DRI detects 1cr duty drawback fraud by Surat company

AHMEDABAD: The Ahmedabad zonal unit of Directorate Of Revenue Intelligence (DRI) has detected Rs 1 crore duty drawback fraud by Surat-based Supreme (India) Impex Ltd (SIL). The manufacturer-cum-exporter of various textile goods had been claiming drawback on the higher side by inflating export value in the export documents. DRI officials conducted search operations at the office premises of the exporter ... Read More »

Russia may shift auto part imports from Turkey to Serbia

ANKARA: Moscow is looking for ways to transfer the manufacturing of spare auto parts for its major car producers from Turkey to Serbia, Russian Deputy Prime Minister Dmitry Rogozin told media. “Until now, these car components were manufactured in Turkey. We believe that the Serbian [auto] industry is capable of producing them,” Rogozin was quoted as saying by the Sputnik ... Read More »

TDAP plans to double its exports to Sri Lanka in a year’s time under FTA

COLOMBO: Both countries Pakistan and Sri Lanka failed to fully utilize the FTA that came into effect in 2005 due to which bilateral trade remains range bound with an average of $350 million for the last six years. The Trade Development Authority of Pakistan (TDAP) Secretary Rabiya Javeri Agha said that it aims to double its exports to Sri Lanka ... Read More »

Surge in New Zealand sheepmeat exports

WELLINGTON: Sheepmeat exports from New Zealand for November 2015 were up by nearly a quarter on the previous year. Sheepmeat exports from New Zealand for November 2015 have reached their highest level in 15 years. Sheep meat exports from New Zealand in November 2015 were up by nearly a quarter on the previous year at 27,400t, according to the UK’s ... Read More »

Grain Millers Association of Zimbabwe sets maize import target

HARARE: The Grain Millers Association of Zimbabwe (GMAZ) has started engaging service companies for import procurement contracts as local millers target importing 150,000 tonnes of maize per month until June next year. This is in light of the drought situation that has already ravaged some parts of Zimbabwe and Sadc. So far, nearly 7,000 cattle in Matabeleland South, Masvingo and ... Read More »

Focus on quality of products, Governor Ebad asks traders

  KARACHI: Sindh Governor Dr Ishratul Ebad Khan has asked the traders and manufacturers to focus on quality of products meet the international standards. He said this in his message delivered a ceremony of 5th Quality Standard Award 2015, organised by The Consumers Eye Pakistan (TCEP). The governor in his message lauded the services of Pakistan Standards and Quality Control ... Read More »

S. Korea’s import prices post main decline in 2015

SEOUL: Prices of imported products in South Korea posted the biggest yearly decline in history last year due to lower crude oil prices, central bank data showed on Wednesday. The import price index came in at 80.36 in 2015, down 15.3 percent from a year earlier, according to the Bank of Korea (BOK). It marked the biggest yearly decline since ... Read More »

US-South Korea free-trade accord effect on local exports: gov’t

TAIPEI: The implementation of a free-trade agreement (FTA) between the United States and South Korea has imposed an adverse impact on Taiwan’s exports to the U.S. market, a research report released by the Ministry of Economic Affairs (MOEA) showed Tuesday. The FTA between the U.S. and South Korea became effective on March 15, 2012. According to the report, which was ... Read More »

Algeria authorities arrest drug smuggler with 102kg cannabis

ALGIERS: A drug trafficker was arrested and 102 kg of cannabis resin was seized Saturday by units of the National Gendarmerie in Tlemcen and Ain Temouchent, said yesterday the Ministry of National Defence in a communiqué. “As part of the fight against smuggling and organized crime, units of the National Gendarmerie of Tlemcen and Ain Temouchent (2nd Military Region) arrested, ... Read More »

Ghazanfar Hussain takes charge as Chief Commissioner-IR

ISLAMABAD: Ghazanfar Hussain, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Chief Commissioner-IR, Regional Tax Office, Bahawalpur. The officer, in pursuance of Board’s Notification No.2936-IR-I/2015, dated 14.12.2015, assumed the charge of the above said post, with effect from January 11. Read More »

US dairy exports back 24% on 2014 levels

NEW YORK: US dairy exports in November 2015 were just $377.3m, back 24% on the corresponding month in 2014, according to the US Dairy Export Council (USDEC). According to Alan Levitt, Vice President of Communications and Market Analysis at USDEC, this is the lowest figure in nearly five years. Shipments of non-fat dry milk/skim milk powder (NDM/SMP) and lactose continued ... Read More »

Saudi exports rise to 54mt in 2015

RIYADH: The volume of Saudi exports in 2015 surged to 54 million tons at a value of SR158 billion, compared with 2014 when they amounted to 53m tons valued at SR194 billion. Eisa Al-Eisa, a spokesman for the Saudi Customs, told Al Eqtisadiah that imports touched 83m tons in 2015 at a value of SR640 billion, as against 85m tons, ... Read More »

Chief Commissioner-IR Kh Adnan Zahir relinquishes charge

ISLAMABAD: Khawaja Adnan Zahir, a BS-20 officer of Inland Revenue Service, has relinquished the charge of the post of Chief Commissioner-IR, Regional Tax Office, Bahawalpur. The officer, pursuing the Board’s Notification No.2936-IR-I/2015, dated 14.12.2015, relinquished the charge of the above said post with effect from January 11. Read More »

Port of Duqm plans to start mineral exports in February

MUSCAT: Port of Duqm plans to start export of minerals for the first time in February this year, said a top-level official of the port. The port has already set up facilities for ‘early operation’ of its break bulk terminal for exporting 50,000 tonnes of dolomite as the first shipment from the port. “One shipment is ready to be exported, ... Read More »

Brazil’s agric export volume increases in 2015

BRASÍLIA: Despite the decline of export value of Brazilian agricultural goods and the decline in the agriculture sector’s surplus in 2015 in comparison to 2014, the record volume shipped and the appreciated U.S. dollar helped the sector last year, according to the Brazilian Ministry of Agriculture. Data released on Monday shows that agricultural exports fell by 8.8 percent in value ... Read More »