Friday , June 5 2020
Breaking News
Home / Author Archives: CT Report (page 3313)

Author Archives: CT Report

New Zealand wine exports increase 8.5% in volume

WELLINGTON: Continued strong growth in export demand for New Zealand wine is rapidly depleting inventories after a light 2015 harvest. Rabobank’s latest wine quarterly showed export volumes increased 8.5% in volume and 13.1% in value over the 10 months to October 2015. Average export prices have edged up in all major markets since the harvest, despite growth in bulk wine ... Read More »

Australian shares jump 1.1%

CANBERRA: Australian shares jumped 1.1 percent on Friday, nudging into positive territory for the week as hopes of more stimulus in Europe and rebounds in prices of iron ore and oil buoyed sentiment. In its first two-day winning streak for the year, the S&P/ASX 200 index gained 52.0 points, or 1.1 percent, to finish at 4,916.0, a rise of 0.5 ... Read More »

Brazil maintains oil price formula for Petrobras royalties

SAO PAULO: Brazil’s President Dilma Rousseff approved a resolution to maintain the current system for establishing the minimum price of oil on which royalty payments are paid by state-run oil company Petroleo Brasileiro SA to local governments. The so-called “Brent Dated” index, based on a seven-day rolling average price for crude, will be used up to the price level of ... Read More »

Belarus restricts poultry imports from France, Scotland

PARIS: Belarus has restricted poultry imports from Haute-Garonne of France and Fife of Scotland, BelTA learned from the Veterinary and Food Control Department of the Agriculture and Food Ministry. According to the World Organization for Animal Health, one case of highly pathogenic avian influenza has been registered in France’s Haute-Garonne; one case of low pathogenic avian influenza (H5N1) has been ... Read More »

Asia ex-Japan’s growth to decelerate further in 2016

TOKYO: Bizwealth caught up with Anthony Ho, chief investment officer, Asia ex-Japan equities, and deputy chief executive officer of Amundi Hong Kong Ltd. Ho joined Amundi Hong Kong in October 2015 from CIFM (Hong Kong), where he was chief executive officer since 2014. Prior to that, he was managing director at JP Morgan Asset Management (Hong Kong) since 2013. From ... Read More »

Irish food, drink exports surpass €10.8bn

DUBLIN: The value of Ireland’s food and drink exports rose 3% last year to move beyond €10.8bn, according to the country’s food board. Bord Bia said that the Irish food and drink sector had “recorded its sixth consecutive year of export growth”. The largest sectors were dairy, beef, prepared foods and beverages, which, between them, contributed more than €8.7m to ... Read More »

Trade agreement negotiations with S. Korea to start in Quito

SEOUL: Representatives of the governments of Ecuador and South Korea begin next 26 January to negotiate a strategic agreement on economic cooperation. The meeting will be held in Quito, for three days, and at its end, a joint statement will be issued. The bilateral agreement will not have the form of a regular free trade agreement (FTA), “but of a Strategic ... Read More »

Greece refiner agrees to resume Iran oil purchase

ATHENS: Greece’s main oil refiner Hellenic Petroleum has reached an agreement with Iran for importing crude oil now that international sanctions have been lifted on Tehran. “Hellenic Petroleum (HELPE) and the National Iranian Oil Company (NIOC) have reached a long term agreement…” that “includes cooperation for the supply of crude oil, with immediate start of deliveries,” HELPE said in a ... Read More »

Argentina Govt to allow beef imports

BUENOS AIRES: Argentina will allow beef imports if the recent opening of the export market results in a domestic shortage of steaks and burgers, farm minister Ricardo Buryaile told local radio on Thursday. The country lifted restrictions on beef exports after President Mauricio Macri, elected in November on an open-markets platform, was inaugurated on Dec. 10. Permitting exports has raised ... Read More »

US suspends imports of Moroccan citrus

WASHINGTON: According to Moroccan media, the decision came after the US Food Safety and Inspection services (USDA) discovered a shipment of clementine infested with fly larvae, an insect that exists in the Mediterranean, Asia, Africa, Latin America, the Caribbean, and can infest more than 300 species. The Moroccan Health Security Office of foodstuffs (ONSSA), held an urgent meeting with citrus ... Read More »

Netherlands agricultural exports to hit €82bln in 2015

AMSTERDAM: Total exports of agricultural products for the Netherlands in 2015 amounted to 82.4 billion euros, again exceeding the previous year’s exports. Compared to 2014, this is an increase of 700 million euros (almost 1 percent). Within the European Union, Germany continues to be the most important trading partner. Agricultural exports represent 18.8 percent of total Dutch exports, which amounted ... Read More »

Canadian oil exports to U.S. reaches highest level ever

TORONTO: The depressed Canadian oilpatch is getting a market share boost as U.S. tight oil production declines. Canadian crude oil exports to the United States reached its highest level ever of 3.4 million barrels per day in the first week of January, according to preliminary data from the U.S. Energy Information Administration. “That’s the one piece of puzzle you don’t ... Read More »

Price declines impact China’s trade with Saudi Arabia

RIYADH: The plunge in oil prices dragged down China’s trade with Saudi Arabia and Iran last year, but growth potentials remain to be exploited, the Ministry of Commerce (MOC) said. In the first 11 months of 2015, China’s total trade with Saudi Arabia dropped 25.2 percent year on year to 47.66 billion U.S. dollars while that with Iran slumped 34.6 ... Read More »

HPCL plans to buy Iranian crude for first time since 2012

TEHRAN: Hindustan Petroleum Corp(HPCL.NS) plans to import crude from Iran this year for the first time since 2012, its refineries head said, which could make it the first company to resume purchases since the lifting of sanctions on Tehran. HPCL was buying 60,000 barrels per day from Iran until problems securing insurance halted imports. Iran is now emerging from the ... Read More »

Norway exports 108.4 bcm of pipeline gas to Europe in 2015 -Gassco

OSLO: Norway exported 108.4 billion cubic metres (bcm) of pipeline gas to Europe in 2015, a more than 7 percent rise of over 7 bcm from the previous year, final figures from gas system operator Gassco showed here the other day. It was slightly less than preliminary data showed on Jan. 4, but still a record high, securing Norway’s place ... Read More »

German hard coal imports fall 4% in 2015 -importers

BERLIN: Germany imported 54 million tonnes of hard coal in 2015, 4 percent less than in the previous year, coal importers’ lobby VDKI said. The figure was close to earlier forecasts from VDKI, which has cited weaker demand from power generators and the steel industry as reasons for the decline. Some 41 million tonnes of the import total were steam ... Read More »

Iran, Spain discussing possible construction of refinery

MADRID: The governments of Iran and Spain are discussing the possible construction of an Iranian-owned refinery at the Gibraltar strait, a sign that the end of sanctions against the Islamic Republic may lead to a flurry of deals with European Union countries. Speaking Monday in Brussels, ahead of a meeting of EU foreign affairs ministers, Spain’s José Manuel García-Margallo said ... Read More »

Taxi drivers in Hungary demand Uber to be shut down

BUDAPEST: Taxi drivers in Hungary’s capital demonstrated on Monday against ride-hailing service Uber, whose growing popularity they find unpalatable amid new regulations setting a fixed tariff for traditional taxi firms that is higher than Uber’s. Taxis blocked a major road crossing in central Budapest and drove around in city streets blocking much of the road traffic in the capital’s center. ... Read More »

Turkey urged to help Kandahar fruits reach Europe

KANDAHAR CITY: Traders in southern Kandahar province on Thursday urged the Turkish ambassador in Afghanistan to facilitate their dried and fresh fruits in reaching Europe markets through Turkey. The Turkish envoy, Ali Sait Akin, was invited to a gathering organised by the Kandahar Chamber of Commerce in Kandahar City, the provincial capital. Besides members of the trader’s body, dozens of ... Read More »

Eurozone private sector hit by market volatility

COPENHAGEN: Private sector growth in the eurozone has slowed to the weakest in almost a year as volatility in financial markets highlighted risks to economic growth, Markit Economics said yesterday. A purchasing managers’ index (PMI) for manufacturing and services fell to 53.5 this month from 54.3 last month, the London-based company said. That was the lowest level since February last ... Read More »