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Author Archives: CT Report

Poland’s second-largest energy firm Tauron issues $562 mln in bonds

WARSAW: Poland’s second-largest energy firm state-run Tauron Polska Energia issued bonds worth 2.25 billion zlotys ($562.42 million) to re-finance debt, it said on Monday in a statement. New bonds maturing in 2020 were bought by several lenders such as Bank BGZ BNP Paribas, Bank Handlowy, Bank Zachodni WBK, ING Bank Slaski, mBank and Bank PKO BP. Tauron is the most indebted ... Read More »

Turkish exports rise for first time in 14 months

ANKARA: Turkey’s exports increased slightly in February compared to the same month last year, after 14 straight months of decline, the Turkey Exporters’ Assembly (TIM) reported on March 1. Exports totaled $10.8 billion last month, an increase of 3.1 percent year-on-year. However exports amounted to $20.4 billion in the first two months of the year, a decline of 16.9 percent ... Read More »

Ukraine slashes apple imports in January

KIEV: In January 2016, Ukraine cut its apple imports by more than half compared to the same month of the previous year, reports Fruit-Inform. This year’s import volumes totalled just 3,000 tons against last year’s 6,600 tons. Ukraine’s cumulative apple imports in the period from July 2015 to January 2016 totalled slightly less than 5,000 tons, a fall of 76% ... Read More »

Finland’s GDP increase slightly in Q4 last year

HELSINKI: The volume of Finland’s gross domestic product increased in October to December by 0.1 per cent from the previous quarter, according to Statistics Finland’s preliminary data. Compared with the fourth quarter of 2014, GDP adjusted for working days grew by 0.6 per cent. The volume of GDP grew by 0.4 per cent year-on-year in 2015. The volume of GDP in ... Read More »

Finnish exports to Russia decline 33% in 2015

HELSINKI: Finnish exports to Russia declined by approximately a third in 2015, according to the Finnish Customs foreign trade statistics. The value of exports to Russia last year was 32 per cent less than in 2014. In December 2015, the exports to Russia fell by seven per cent, which was the year’s least drop. The total value of exports decreased by ... Read More »

Belarus reduces oil export duties

MINSK: Belarus reduced export duties on oil and oil products exported outside the customs territory of the Eurasian Economic Union on 1 March. The relevant decision is contained in Council of Ministers executive order No. 154 of 25 February 2016, BelTA has learned. The export duty on crude oil went down from $52 to $39.5 per tonne. The duty on ... Read More »

Vietnam finance ministry clarifies tax rate

HANOI: The Ministry of Finance said a bad translation claiming that the tax-rate-to-profit ratio in Viet Nam was high, accounting for nearly 40 per cent of profit and undermining competitiveness, caused misunderstandings. The clarification, which appeared on the ministry’s official website on Sunday, was in response to a story published by Tuoi Tre (The Youth) newspaper on Friday titled “Lam ... Read More »

Dubai gold prices up Dh22 per gram

DUBAI: Those who bought gold jewellery in Dubai about three months ago or last year may have reason to rejoice, with the precious metal posting a whopping Dh22 increase per gram since the beginning of the year. Yellow gold continued its climb this week, as investors flocked to safe-haven assets amid times of uncertainty. The price of 24-carat gold in ... Read More »

Italy’s unemployment rate fall slightly in Jan

ROME: Italy’s unemployment rate fell slightly in January as job creation was aided by tax breaks to reward employers hiring people on an open-ended basis, offsetting the impact of weak economic growth. The rate dropped to 11.5 percent from a revised 11.6 percent in December, national statistics agency Istat said Tuesday in Rome. The median estimate in a Bloomberg survey ... Read More »

KRA officers foil narcotics export bid at JKIA

LONDON: A KRA team on Monday morning foiled a drug trafficker’s attempt to mail a package loaded with a narcotic substance through the JKIA in Nairobi. The 6kg parcel destined for the United Kingdom from Senegal had been marked as dried fish. It was set for onward delivery to the UK via Benin through the post office mail service. Officers attached ... Read More »

California wine exports set record in 2015

WASHINGTON: California wines appeal to consumers across the globe who recognize the unique quality and excellent value of our wines. Consumers are also attracted to California’s trend-setting lifestyle, innovative cuisine, beautiful wine country destinations and emphasis on environmental responsibility—all of which are reflected in our wines,” said Robert P. (Bobby) Koch, Wine Institute President and CEO. Of the top 10 ... Read More »

Inflation surged to 4.02% in Feb

ISLAMABAD: The annual inflation of the country increased to 4.02 percent in February as compared to same month of the year 2015. On month-on-month basis, the inflation measured through Consumer Price Index (CPI) fell by 0.25 percent in February as compared to January, 2016, Chief Statistician, Pakistan Bureau of Statistics (PBS) Asif Bajwa told the newsmen here on Tuesday. He ... Read More »

Telecom investments cross $2.67 billion mark

ISLAMABAD: The telecom sector investments, including proceeds from 3G/4G spectrum auction and further contributions from operators in infrastructure, have crossed $ 2.67 billion. The launch of 3G/4G (mobile broadband services) was a success story as within a short span its commercial launch, broadband subscribers have crossed 26 million and the broadband penetration has gone up from less than 3 % ... Read More »

2m Punjab youth to be imparted skill training

LAHORE: Provincial Minister for Mines and Minerals Chaudhry Sher Ali Khan has said that two million youth will be imparted skill development training to enable them to get better job opportunities in local as well as international market under Punjab Growth Strategy 2018. He stated this while presiding over a meeting to review skill training programme in Mining Sector of ... Read More »

Railways to unveil engineering diplomas, degrees

ISLAMABAD: Pakistan Railways will introduce engineering diplomas and degrees in educational institutes for achieving self-sufficiency in the important sector of the communication. “The efforts in this regard were being made by the present government,” an official in the Ministry of Railways told APP. He said there were no regular specified training courses for the Railway employees abroad, however, on basis ... 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: Koronos Island Oel Dubai Kota Kamil Hyundai Paramount Alam Mutiara SHIPS BERTHED: Zhen Hua 18 General Cargo Thor Endeavour Soyabean Meal SCL Leman General Cargo Margaret SW General Cargo Sima Prestige Container ship ACX Crystal ... Read More »

CNG price reduced by Rs6-7 per kg

ISLAMABAD: The prices of gas at CNG stations being run on re-gasified LNG (RLNG) throughout Punjab zone are being reduced by Rs 6 to Rs7 per kilogramme. All Pakistan CNG Association central leader Ghiyas Paracha said, “If the government reduced the prices of petrol to Rs 69 per litre from the existing Rs71.7 per litre then CNG would be about ... Read More »

Second Secretary Inayat Malik exonerated

ISLAMABAD: Inayat Malik, an Inland Revenue Service of BS-18, presently posted as Second Secretary (Taxpayers Audit), FBR (HQ), Islamabad, has been exonerated from the charges levelled against him. The competent authority in consequent upon finalisation of disciplinary proceedings under Government Servant (Efficiency & Discipline) Rule, 1973 against the accused officer vide charge sheet/statement of allegations issued on September 07, 2015, ... Read More »

Customs Superintendent Kiyani punished for inefficiency

ISLAMABAD: Ghulam Ishaq Kiyani, Superintendent BS-17 (under suspension), Model Customs Collectorate, Islamabad, given minor penalty over inefficiency. As per details, the disciplinary proceedings were initiated against the accused officer under Government Servants (Efficiency & Discipline) Rules, 1973. Kh Khurram Naeem, Additional Collector, MCC, Islamabad, was appointed as inquiry officer to investigate on account of various acts of omission and commission ... Read More »

Customs Dy Superintendent given minor penalty

ISLAMABAD: Atta-ur-Rehman, Deputy Superintendent (BS-16), Model Customs Collectorate, Islamabad, has been given minor penalty of “with-holding of two annual increments. As per details, the disciplinary proceedings were initiated against the accused officer under Government Servants (Efficiency & Discipline) Rules, 1973. Kh Khurram Naeem, Additional Collector, MCC, Islamabad, was appointed as inquiry officer to investigate on account of various acts of ... Read More »