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Russia increases wheat flour exports in current season

MOSCOW: Russia significantly increased wheat flour exports in the current season. Flour export shipments from Russia amounted to 107.8 KMT in July-November 2015, that was twice as much as over the same period last season (55.7 KMT in July-November 2014). Russian wheat flour production also increased by 3% during this period. UAE became the main importer of wheat flour from ... Read More »

Russia sets Ukraine gas bill at $32 bln after flows stop

MOSCOW: Russia’s Gazprom PJSC resumed billing Ukraine for failing to take delivery of natural gas in the third quarter, taking the total amount the company claims it is owed under a disputed contract to almost $32 billion. Gazprom charged NAK Naftogaz Ukrainy $2.55 billion for gas under contractual take-or-pay clauses after freezing the obligation temporarily last year. Ukraine has 10 ... Read More »

India to receive first imports of US shale gas in 2017

NEW DELHI: India is to receive its first imports of US shale gas in 2017, a person familiar with the development said on Tuesday, a move that is expected to help India in its quest to broaden its energy mix. Shale gas imports from the US are expected to be a cost-effective fuel source for fertilizer and power producers who ... Read More »

Israel restarts to US beef imports

WASHINGTON: This week’s audio report from the US Meat Export Federation (USMEF) discusses Israel’s recent decision to reopen to US beef. This will be the first time the country has allow US beef imports since December 2003, when the first confirmed case of BSE in the United States led many countries, including Israel, to suspend imports of U.S. beef. Israel ... Read More »

India’s smartphone shipments expected to grow 37% in 2016

NEW DELHI: India’s smartphone shipments are expected to grow 37% on year, higher than the 32% average growth for the previous three years, in 2016 in a year when the smarter devices are likely to overtake featurephones on the back of proliferation of 4G handsets and expansion into smaller cities and rural areas, as per Cybermedia Research. In 2015, 95 ... Read More »

Latvia’s small port handles 1.37 mln tons of cargo in 2015

WASHINGTON: Latvia’s small ports handled 1.37 million tons of cargo in 2015, which is 12.6% less than in 2014, when the ports handled 1.59 million tons of cargo, the Transport Ministry informed LETA. The largest cargo turnover was registered at Skulte Port – 585,200 tons. This is 21.2% less than in 2014. Mersrags Port’s cargo turnover decreased 16.7% to 402,900 ... Read More »

Adani Ports, Special Economic Zone shares surges over 6%

NEW DELHI: Adani Ports and Special Economic Zone shares surged over 6% on Tuesday after the company said the order by the National green Tribunal (NGT) on carrying out work for its Hazira-based port without environment clearance has not impacted its operations in the area. The stock climbed 5.90% to settle at Rs 232.40 on BSE. Intra-day, it soared 6.63% ... Read More »

Rio Tinto annual iron ore shipments jump 11%

SYDNEY: Rio Tinto PLC RIO shipped record volumes of iron ore again in 2015 as the world’s No. 2 exporter of the steelmaking commodity put the finishing touches on a massive expansion of its Australian mining operations. On Tuesday, Rio Tinto reported annual global iron-ore shipments totaling 336.6 million metric tons, up 11% on-year and just shy of its earlier ... Read More »

TV panel shipments near 270 mln units worldwide in 2015

WASHINGTON: A total of 22.73 million units of LCD TV panels were shipped in December 2015, down 0.02% from November and up 4.1% year on year. Iris Hu, WitsView assistant research manager, said that even though TV vendors had finished stocked up for the peak season, shipments remained strong throughout the fourth quarter due to high capacity utilization by panel ... Read More »

UK inflation edges up to 11-month high in Dec

LONDON: British inflation edged up to an 11-month high in December after a spike in airfares, but prices for 2015 as a whole were flat for the first time since records began in 1950, putting the Bank of England under no pressure to raise rates. Consumer prices rose by 0.1 percent on the month to take December’s annual inflation rate ... Read More »

China’s Solargiga posts 1.6% increase in annual revenue

BEIJING: China’s Solargiga Energy Holdings Limited posted a 1.6% increase in annual revenue to CNY 2.9 million last year, according to its preliminary unaudited financial results. The publicly listed PV manufacturer made CNY 2.84 million in revenue from its production business, up 1.3% over the previous year. It saw a sharp rise in the sale of electricity generated and other ... Read More »

APAT to hold convention against WHT and amnesty scheme today

LAHORE: All Pakistan Anjman-e-Tajran (APAT) is going to hold countrywide convention today (January 20) in Faisalabad where it will announce strategies to tackle with the issues of withholding tax on banking transactions and Tax Amnesty Scheme. APAT President Khalid Pervaiz told that government stance regarding the non-payment of taxes is not true, adding that traders were paying Rs 200 billion ... Read More »

FCCI chief calls to extend Voluntary Tax Scheme to entire SMEs

FAISALABAD. Chaudhary Muhammad Nawaz President Faisalabad Chamber of Commerce and Industry (FCCI) has demanded to enhance the scope of amnesty under Voluntary Tax Scheme to the entire SMEs sector without any discrimination of trader or industry. Addressing the 8th All Pakistan Chamber’s Presidents Conference (APCPC) organized by Rawalpindi Chamber of Commerce and Industry (RCCI) at Bhurban, he said that Government ... Read More »

ICCI for passing full benefit of falling oil price on consumers

  ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has called upon the government to pass full benefit of falling international oil prices on consumers by making proportionate cut in domestic prices of POL products that will help in boosting business activities and providing relief to the common man. Atif Ikram Sheikh president, Sheikh Pervez Ahmed senior vice president and ... Read More »

Coquimbo port table grape shipments decrease 94%

CHILE: As the fruit season develops in the Coquimbo region, the impact on agricultural exports of the structural damage in the Port of Coquimbo is becoming clearer. We are referring to the severe damage at site 1, which has left only site 2 available for mining and agricultural exports and for the departure and arrival of cruises. According to figures ... Read More »

Australia’s contract mining, diamond revenues to fall in 2016

CANBERRA: New analysis from business intelligence publisher IBISWorld predicts that Australia’s contract mining services and diamond and gemstone miners are in for a dismal 2016. Revenue for contract miners during 2016 was expected to contract by 6.3%, to A$11.1-billion, while diamond and gemstone mines’ revenue would contract by 13.3% during the year, to A$380-million. IBISWorld senior industry analyst Spencer Little ... Read More »

Nepal Stock Exchange index records fresh high

KATHMANDU: The Nepal Stock Exchange (Nepse) index recorded a fresh high today as the benchmark index surged by 0.19 per cent or 2.31 points to 1,214.31 points. The country’s secondary market has clocked four weekly gains and witnessed continuous bull run since January 6. Stock market analysts have said that the continuous bull run in the market is largely backed ... Read More »

Eko launches Indo-Nepal remittance service with Prabhu Money

KATHMANDU: Eko, a mobile-based Financial technology company, today announced the launch of Indo-Nepal remittance services in partnership with Nepal’s Prabhu Money Group. “This is Eko’s first international tie-up for remittance services. Through this product launch, Eko agents are able to initiate remittances to Nepal. The service will benefit 50 Lakh Nepali migrants living across India,” the company said. The service ... Read More »

Turkey iron ore imports surge 28% in Nov

ANKARA: The latest data released by the Turkish Statistical Institute (TUIK) suggests that the country’s iron ore imports surged significantly higher during the month of November 2015. The imports during the month totaled 768,625 tons, surging higher by nearly 28.2% when compared with the imports during the same month a year ago. The Turkish iron ore imports had totaled 599,770 ... Read More »

Ukraine Polyethylene imports drop 15% in 2015

KIEV: Overall polyethylene (PE) imports into Ukraine in 2015 dropped by 15% year on year, totalling 212,800 tonnes, according to a MRC DataScope report on Tuesday. Low density polyethylene (LDPE) accounted for the greatest fall in demand, while the high density polyethylene (HDPE) segment accounted for smallest reduction in demand. December PE imports into Ukraine fell to 19,800 tonnes from 23,300 ... Read More »