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Chile breaks lull in LatAm primary markets

SANTIAGO: Chile (Aa3/AA-/AA+) was poised to become the first Latin American issuer to sell cross-border bonds in 2016, breaking the lull in what has been a quiet start to the year for the region’s primary market. The South American nation, which was selling both euro and dollar bonds on Tuesday, is the highest rated sovereign in Latin America and hence ... Read More »

Poland now third largest beef exporter to UK

WARSAW: Beef exports in Poland have seen a sharp increase in the first nine months of 2015, with shipments to the UK showing the biggest growth, writes Shane Murphy. Poland, much like Ireland, relies heavily on exports when it comes to beef. A country 10 times the size of Ireland in area, it produces 373,000t of which 323,000t is exported. ... Read More »

Alabama education revenues expected to grow in 2017

MONTGOMERY: Alabama is expected to have more state revenue to spend on education next year than this year, although official estimates have not yet been determined, legislators heard today. The legislative session begins Feb. 2, and as always, the main task for lawmakers will be to pass the education and General Fund budgets. Many legislators were at the State House today ... Read More »

New Zealand house prices rise in Dec

WELLINGTON: New Zealand house prices rose in December, the government property valuer said on Wednesday, as house sales in regions surrounding Auckland surged. Quotable Value’s (QV) residential property price index rose 14.2 per cent in the year to December, compared with an annual rate of 15 per cent in the previous month. The index is now 34.7 per cent above ... Read More »

New Zealand dollar fall as commodity prices sink

WELLINGTON: The New Zealand dollar fell as commodity prices sank on concern about weaker demand from China, the world’s second-largest economy. The kiwi declined to 65.36 US cents at 8am in Wellington, from 65.60 cents at 5pm yesterday. The trade-weighted index dropped to 72.11 from 72.27 yesterday. The CRB Index, which measures a basket of 19 global commodities, hit a fresh ... Read More »

Spanish imports 49,111 tonnes of bananas in October

Madrid: In October 2015, the Canary Islands shipped 31,405 tonnes of bananas to the Spanish mainland, while African and Latin American exports amounted to 24,261 tonnes and re-exports reached 6,556 tonnes, so consumers in Spain had access to about 49,111 tonnes of bananas. This is 17,632 tonnes more than in the previous month, which means that the available supply grew ... Read More »

Iran in talks to help build refinery in Spain

TEHRAN: Iran is in talks to help build a refinery in Spain, an Iranian oil official told state media over the weekend, as it seeks to secure buyers for its oil after a European embargo on its oil is lifted. The talks come as world powers are set to implement a deal with Tehran to lift sanctions in exchange for ... Read More »

Strong growth for Australian pipfruit exports

CANBERRA: Significant increase in shipments to the Thai market has helped propel Australian apple exports to triple figure growth, according to an interim report released by Apple & Pear Australia (APAL). The report, which measured export figures between January and November 2015, put total apple exports at 3,612 tonnes, with the value of the trade estimated at A$10.32m. This reflects ... Read More »

Heroin smuggling ring members busted at airport

TAIPEI: The case of a drug ring was sent to New Taipei prosecutor’s office Wednesday after two of its members were arrested earlier this month at an airport for trying to smuggle in heroin from Vietnam, the police said. The first suspect, a woman identified as Hsiao, was caught Jan. 10 concealing 847 grams of heroin in her crotch and ... Read More »

Vietnam plans to rise to ASEAN top half by 2020

HANOI: Viet Nam is striving to boost its development in the ASEAN bloc and rise to the upper half within five years, according to the country’s latest strategy on international integration. The long-term strategy, approved by Prime Minister Nguyen Tan Dung recently, set goals for 2020 regarding regional and global integration as well as a long-term vision outlined for 2030. The ... Read More »

Spain’s economy to grow to 3.5% in beginning of 2016

MADRID: Spain’s acting minister of economy and competitiveness, Luis de Guindos, said on Monday that Spain’s economy would grow by close to 3.5 percent in the beginning of the year. De Guindos made this statement on a local radio station where he said several indicators, such as industrial production or car sales, led to the conclusion that the Spanish economy ... Read More »

Japan ANA to buy $108m VNA stake

HANOI: The national carrier Vietnam Airlines (VNA) will this year sell a stake to All Nippon Airway (ANA), the Japan’s biggest airline, a press release yesterday said. The purchase will be made under a memorandum of understanding (MoU) on partnership co-operation signed between the two sides. ANA will buy VNA shares worth more than VND2.43 trillion (US$108 million). The partnership will ... Read More »

Nepalese sentenced for narcotics smuggling

BAHRAICH: A Nepalese national has been sentenced to 10 years imprisonment by a local court for narcotics smuggling. Additional Sessions Judge Suresh Chandra Bharti yesterday awarded 10 years imprisonment to Manshir Pujari. He was arrested by the SSB at Rupaideeha on Indo-Nepal border on November 2012 with three kg charas. The convict is a resident of Kanchanpur in Nepal. Read More »

IMF lauds Pakistan’s improved economy

ISLAMABAD: The International Monetary Fund’s (IMF) Executive Board has lauded the Pakistan’s economy, which has shown positive indicates after the reforms by the present government. The IMF, in its latest report issued on Wednesday, said that starting from a difficult position in 2013, Pakistan has made substantial progress in reducing near-term economic vulnerabilities. “Economic growth gradually increased from 3.7 percent ... Read More »

Kuwait’s Burgan Bank says in final stages of picking banks for 100 mln dinar bond

KUWAIT: Burgan Bank, Kuwait’s third-largest lender by assets, said on Wednesday it was in the final stages of picking banks for arranging a 100 million dinar ($328.9 million) bond issue. The lender said it was finalising the arrangement of the bond and its marketing, it said in a bourse statement. Reuters reported on Monday that the Kuwaiti bank had mandated ... Read More »

HCM Stock Exchange rises 1.2% to close at 564.26 points

HANOI: The benchmark VN Index on the HCM Stock Exchange rose 1.2 per cent to close at 564.26 points. The southern index dropped 2.9 per cent in the previous three sessions. The HNX Index on the Ha Noi Stock Exchange gained 0.7 per cent to end at 76.65 points. The northern index lost 3.3 per cent in the previous three ... Read More »

Shipping movement 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: MU Dan Song G.C ACX Pearl Cont Hansa Neuburg Cont SHIPS BERTHED: Ever Unique Container Ship Wieland Container Ship AS Orelia Tanker EXPECTED SAILING DATE Shalamar 13/01/16 Jin Han 13/01/16 AS Orelia 13/01/16 Batam Trader ... Read More »

Bank of Portugal governor says banks need to boost capital

LISBON: Portuguese banks have to boost their capital and increase their profitability, Bank of Portugal governor Carlos Costa said on Wednesday. “Portuguese banks have to ensure that they have sutainable profitability,” Costa told a conference. “Capital has to be reinforced to guarantee sufficient cover for risks that may come.” He was speaking after Portugal had to pay more than 2.2 ... Read More »

Ejaz, Farhat assume charge as Commissioner-IR

ISLAMABAD: Two Inland Revenue Service officers of BS-19 have assumed the charge of the post of Commissioner-IR in different cities. Muhammad Ejaz Khan assumed the charge of the post of Commissioner-IR (OPS) (Zone-IV), Regional Tax Office-II, Karachi, with effect from January 11, 2016. Farhat Qayum assumed the charge of the post of Commissioner-IR (OPS) (Zone-II), Regional Tax Office, Rawalpindi after ... Read More »

National Bank of Greece announces support srogram for startups

ATHENS: The National Bank of Greece (NBG) announced on Tuesday an initiative aimed to support startups with activities in e-commerce through its NBG BusinessSeeds program. The bank will award startups offering innovative products and services, present integrated business models, financial sustainability and high growth prospects. All eligible companies will be offered NBG’s i-bank e-commerce service free of charge for one ... Read More »