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Author Archives: CT Report

S. Africa miners in Zimbabwe freeze new projects

HARARE: South African mining companies in Zimbabwe, as well as others, have put all new and expansion projects on hold, the chamber of mines has said, giving an update on the state of the industry. This comes as mining companies in the mineral rich but troubled country seek to preserve cash in a biting economic environment that has been worsened ... Read More »

APLNG ships first LNG cargo from third east coast Australia terminal

CANBERRA: The Australia Pacific LNG, or APLNG, facility takes coal seam gas from Eastern Australia, liquefies it and then ships the fuel to customers in Asia. “This is a significant milestone for our company and we are proud to have safely loaded the first cargo from APLNG”, said Ryan Lance, chairman and chief executive officer. He underlined the long-term nature ... Read More »

Australia’s buffalo trade growing with large numbers exported to Vietnam

CANBERRA: More than 5,000 head of buffalo were exported from the Northern Territory in 2015, making it one of the best years in the trade’s history. Figures released yesterday by the NT Department of Primary Industry show the year was also Darwin Port’s second-biggest on record for live cattle exports. A small number of buffalo were shipped to Brunei (625 ... Read More »

S.Korea’s exports expected to remain slow in Q1

SEOUL:  South Korea’s exports are expected to remain sluggish during the first quarter of this year due to slowing growth in major markets and falling price competitiveness, a poll showed Thursday. The country’s leading export sentiment index came to 50 for the January-March period, up 1.4 from the previous quarter, according to the Korea Trade-Investment Promotion Agency (KOTRA). A reading ... Read More »

Peruvian mango exports to S. Korea up 214%

OTTAWA: Between January and October 2015 Peru exported US$9.4 million worth of raw or steam-cooked (packed) mangoes to South Korea; this is a 214 percent increase in comparison with the same period in 2014, reports Peru-South Korea Business Council Chairman Juan Varilias affirmed. The number of fresh-mango shipments is expected to increase in the short-term, following phytosanitary protocol approval. As ... Read More »

S. Korea sets to utilize FTAs to renew exports in 2016

SEJONG: South Korea will make full use of its free trade agreements (FTAs) and diversify products and services it sells overseas to revive exports in 2016 after a disappointing performance a year earlier, the trade ministry said Thursday. In a 2016 policy report to President Park Geun-hye, the Ministry of Trade, Industry and Energy said exports and imports will likely ... Read More »

Chinese exports to Hong Kong up 10.8%  

HONG KONG: Chinese exports to Hong Kong rose 10.8 percent from a year earlier for the biggest gain in more than a year, making the territory the biggest destination for shipments last month and spurring renewed skepticism over data reliability and the broader recovery in China’s outbound trade. Exports to Hong Kong rose to US$46 billion last month, according to ... Read More »

Philippines may import up to 400,000 tons of rice in 2016

MANILA: The Philippines, one of the world’s top rice importers, is set to buy 400,000 tons of the grain for delivery in the second quarter, and may need an additional 800,000 tons to cover this year’s requirements, a grains agency official said. Workers unload a truckload of rice at a warehouse of the National Food Authority in Manila in this ... Read More »

Turkish lemon exports decline, prices rise

ANKARA: In Mersin, Turkey, the lemon yield and exports have declined, but the prices have risen. Last year lemons were bought from the growers for around €0.30, this has increased by 50% this year to €0.45. In 2014, the city harvested 650,000 tons of lemons, this figure fell to 500,000 in 2015. According to the Mediterranean Exporters Association (AKIB) in ... Read More »

Kazakhstan exports of wheat flour decreases 4%

ASTANA: Kazakhstan exported 530.2 KMT of wheat flour in September-November of the current season. That was 4% less than during the same period last season (551.5 KMT). Uzbekistan and Afghanistan remained the main importers of Kazakh flour. Over the period under review these countries took 46% and 45% of total flour exports from Kazakhstan respectively. Tajikistan reduced purchases of Kazakh ... Read More »

Czech Govt approves regulation of drug export

PRAGUE:  The Czech government approved an amendment to regulate exports of sensitive medicines to prevent their re-export yesterday, Health Minister Svatopluk Nemecek (Social Democrats, CSSD) has told reporters during the government meeting. The draft legislation is yet to be approved by both houses of parliament and signed by President Milos Zeman into law. Experts will make the list of these drugs ... Read More »

Saudi-Iran row to impact Mideast economy

TEHRAN: The Saudi-Iranian tensions could impact not just the economy of Iran, but also that of the wider Middle East and Africa (MEA) region, analysts have said. It could also affect investors’ appetite for risk, “spell increased volatility” in the financial markets and create pressure on oil prices. “[The] impact of the conflict on key sectors such as oil, tourism ... Read More »

Korea to boost exports, consumption for growth

SEOUL: Economic ministries briefed President Park Geun-hye on their New Year policies geared toward revitalizing the sluggish economy by boosting domestic demand and exports in a balanced way. Just two weeks into 2016, heightening external risks coupled with persistent domestic problems make it seem hardly realistic to achieve the government’s growth target for this year, which is set at 3.1 ... Read More »

France climb wheat stocks forecast as tough export rivalry bites

PARIS: France hiked its forecast for carryout wheat inventories to by far the highest in at least a decade as it cut hopes for exports, ditching expectations of shipments outside the European Union beating year-ago levels. The official FranceAgriMer crop bureau raised by 563,000 tonnes to 5.78m tonnes its forecast for disposable wheat inventories in the EU’s top wheat producer, ... Read More »

Africa-China exports fall 40% after China slowdown

BEIJING: African exports to China fell by almost 40% in 2015, China’s customs office says. China is Africa’s biggest single trading partner and its demand for African commodities has fuelled the continent’s recent economic growth. The decline in exports reflects the recent slowdown in China’s economy. This has, in turn, put African economies under pressure and in part accounts for ... Read More »

Customs seizes 3kg of marijuana at Bali airport

Kuta: A British citizen Stephen Russel Hakes (58) was caught red-handed carrying three grams of marijuana by the Customs and Excise Office at Ngurah Rai, Denpasar, Bali. “The marijuana was hidden in his rectum,” Head of Supervision and Service of the Customs and Excise Office at Ngurah Rai, Bali, Budi Harjanto stated here on Wednesday. The British national, born in ... Read More »

Arab states import $226 mln machinery from Brazil

RIYADH: Arab countries imported $226.31 million worth of machinery last year from Brazil, compared to $211.43 million in 2014, registering a seven per cent growth, according to recent statistics. The Arab-Brazilian Chamber of Commerce (ABCC) said the export of construction items, on the other hand, remained stable at $41.34 million last year. The growing volume of outbound trade demonstrated an increasing ... Read More »

China: Thailand fresh produce trade booms

BANGKOK: Since China and Thailand signed a ‘zero customs’ agreement on the 1st of October 2015, the import of vegetables and fruit from China to Thailand increased by 85% and 350% respectively. Total exempted customs reached 70 million Yuan. Shenzhen, a city in Southern China, has imported 22,800 tons of fruit and veg from Taiwan with an estimated value of ... Read More »

Russian ruble rises up to 2.04 of Azerbaijani gapik

BAKU: The bi-currency basket, revived by the Central Bank of Azerbaijan, does not describe fully the disposition of currencies of the main consumer good suppliers in the country, but is much higher than the real import currency basket. According to customs statistics, the main suppliers of consumer goods in the country are Russia, Turkey and the EU (euro zone), but ... Read More »

France hikes wheat stocks forecast as tough export rivalry bites

PARIS: France hiked its forecast for carryout wheat inventories to by far the highest in at least a decade as it cut hopes for exports, ditching expectations of shipments outside the European Union beating year-ago levels. The official FranceAgriMer crop bureau raised by 563,000 tonnes to 5.78m tonnes its forecast for disposable wheat inventories in the EU’s top wheat producer, ... Read More »