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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 Tuesday. ALONG SIDE (Bulk Oil Pier): OP-I Ariel D.HSD Wilhelmsen 02/02/16 OP-II Atlantic Pegasus L.Molasses East Wind 02/02/16 OP-III CT Ace L.Naptha Alpine 01/02/16 ALONG SIDE (East Wharves): 1 Royal Emerald D. Chemical Alpine 01/02/16 10/11 Moonray D. Steel ... 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 Tuesday. SHIPS SAILED: APL Pearl Asia Emerald III SC Champion XL OEL Dubai KMTC Mumbai Chemroute Sky Kota Kamil SHIPS BERTHED: CT Ace Tanker Eraclea General Cargo Sima Prestige Container Ship Blue April Tanker ACX Crystal Container ... Read More »

Customs Superintendent Aslam retires

  ISLAMABAD: Muhammad Aslam Bhatti, a Pakistan Customs Service officer of BS-17, has retired from the government service on attaining the age of superannuation. The officer, posted as Superintendent, Model Customs Collectorate of Preventive, Lahore, with effect from January 04. Read More »

Pak industrialists in India to participate in leather expos

  KARACHI: A delegation of Pakistan leather industrialists, who is on a study tour in India, will participate in the International Leather Fair and 19th International Footwear Congress in Chennai. The 15-member delegation of Pakistan Tanners Association (PTA), led by its Chairman Gulzar Firoz, will attend leather fair from February 1 to 3 and 19th footwear congress scheduled between Feb ... Read More »

Traders show dissatisfaction over insufficient cut in prices of POL products

ISLAMABAD: Businessmen in a meeting at Islamabad Chamber of Commerce and Industry have shown resentment over insufficient cut in the prices of POL products despite the fact that price of crude oil in international market has come down to below $35/per liter showing a fall of over 60% from its peak price and called for Rs.10 to Rs.15 per liter ... Read More »

Western Australia ports reopen after cyclone

CANBERRA: The ports of Hedland and Dampier have reopened following closure because of a cyclone Stan, which has weakened to a tropical low. At Port Hedland, the inner and outer anchorages were opened on Sunday following a total closure of 65.8 hours, while the inner harbour reopened after being closed for 48.8 hours, the Pilbara Ports Authority said in a statement. ... Read More »

SOCAR’s oil shipments via Russia up 52% in Jan

BAKU: Azerbaijan’s SOCAR shipped 258,000 tonnes of oil via Russia in January 2016, up from 169,507 tonnes in the same period last year, the state energy company said on Monday. Oil exports via Russia for the whole of 2015 totalled 1.27 million tonnes, up from 1.02 million in 2014. A one-year contract between SOCAR and Russian oil pipeline operator Transneft ... Read More »

Port of Oakland’s second-largest terminal operator files for bankruptcy

OAKLAND: The operator of the Port of Oakland’s second-largest terminal filed for bankruptcy Monday less than two weeks after it suddenly announced ceasing operations about seven years into a 50-year lease. Ports America announced on Jan. 19 it would wind down operations at the port’s Outer Harbor terminal over the next 90 days, saying it wanted to concentrate on other ... Read More »

Lenovo’s tablet shipments fall 13.5% in Q4

WASHINGTON: Lenovo’s tablet shipments fell 13.5 percent during the crucial holiday season, which nonetheless was slightly better than the overall market, according to market research firm IDC. IDC reported that tablet shipments worldwide dropped 13.7 percent in the fourth quarter compared to a year ago. Consequently, Lenovo maintained the 4.8 percent market share it posted a year ago even as the ... Read More »

Grain shipments from Black Sea ports set new record

WASHINGTON: Black Sea ports in grain exporting countries increased grain handling to a record high, mainly owing to export shipments. This fact reflects the increasing role of Black Sea countries in the world grain trade and global food supply. Thus, according to USDA, in 2015/16 only wheat shipments from these countries will reach 37% of total world exports compared to ... Read More »

Uganda inflation eases to 7.6% YOY in Jan

WASHINGTON: Uganda inflation has eased to 7.6% year-on-year in January from a revised 8.4% in December. This is attributed to deceleration in food inflation. According to data released by Uganda’s Bureau of Statistics, annual food inflation slowed to 12.7 percent in January, from 13.8 percent in December. Additionally, core inflation which excludes food, fuel, electricity and metered water decreased to 7.1 ... Read More »

RBI expects retail inflation to ease to 5% by March 2017

MUMBAI: Normal monsoon and subdued oil prices are expected to bring down retail inflation to around 5 per cent by the end of next fiscal, RBI Governor Raghuram Rajan said today. He also listed a number issues, including implementation of the Pay Commission’s recommendations for central government employees and movement in global commodity prices, which could build up inflationary pressures. ... Read More »

Expenditure to social protection grows 3.7%

HELSINKI: Expenditure directed to social protection grew most, by 3.7 per cent and amounted to EUR 52.2 billion in 2014, according to Statistics Finland’s data. A major part of general government expenditure was directed to social protection. Social protection expenditure also grew most from 2013. The growth in social protection expenditure was particularly due to expenditure connected to old age ... Read More »

Oman’s oil production targets at 990,000 barrels bpd

MUSCAT: Oman’s oil production this year is targeted at around 990,000 barrels per day (bpd), said Minister of Oil and Gas, Mohammed bin Hamad Al Rumhy, adding it would be difficult to halve the economy’s dependence on oil in five years. The target for this year is 980,000 to 990,00 bpd or slightly more than that, the minister told reporters ... Read More »

BP reports 91% decline in Q4 earnings

LONDON: BP reported a 91 per cent decline in fourth-quarter earnings after average crude oil prices dropped to the lowest in more than a decade. The company’s shares fell the most since August. Profit adjusted for one-time items and inventory changes totaled $196 million, the London-based company said on Tuesday. That missed the $814.7 million average estimate of 10 analysts ... Read More »

Poland moves up in Index of Economic Freedom

WARSAW: Poland has moved up to 39th place globally in the latest Index of Economic Freedom report, its best result so far and up from 42nd place last year. In 2014, Poland was ranked 50th in terms of economic freedom by the annual report, published by The Wall Street Journal and The Heritage Foundation, a Washington think-tank. Poland was ranked 18th ... Read More »

Revenue collection improves clearly in sixth month

KATHMANDU: Revenue collection improved markedly during the sixth month of the fiscal year as imports entered the country through alternate routes, although the overall collection during the first half remained near historic lows, the Finance Ministry said. During the one-month period from mid-December 2015 to mid-January 2016, revenues almost equalled the target for the period as most of the shipments ... Read More »

Pak rupee depreciates by five paisas against dollar

KARACHI: The Pakistani rupee Tuesday depreciated against the US dollar in cash-free market. According to the local money market, the dollar gained five paisas in open market to reach 106.85 and remained steady in interbank at 104.70. On Monday, the greenback lost 15 paisas in open market to reach 106.80 and remained firm in interbank at 104.70. Read More »

Bangladesh imports textile machinery in last fiscal year

DHAKA: Bangladesh textile millers have imported machinery worth TK71.19 billion in the fiscal year of 2014-15, a short up by over 40 percent compared to Tk50.63 billion in the last fiscal year of 2013-14 as many millers went for business expansion, said Bangladesh Textile Mills Association (BTMA) president Tapan Chowdhury speaking a press conference on Tuesday. The rise in machinery ... Read More »

Digital currency booming in Spain with introduction of bitcoin ATMs

MADRID: A lack of trust within the banking sector is fuelling Spain’s digital currency market. More and more people are leaving their banks and turning to the alternative online currency Bitcoin. Bitchain, a Barcelona-based bitcoin company, says it continues to grow despite a dip in the online currency market worldwide. In fact, Bitchain is currently installing 20 bitcoin ATM machines ... Read More »