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France police seize 41kg cocaine worth $2.2m

PARIS: Police have seized 41 kilograms (90 pounds) of cocaine in a plane at a Paris airport and arrested six Frenchmen involved in a drug trafficking network, including three luggage handlers. Vincent Annereau, from the Paris judicial police, says the drugs seized last Friday at Orly Airport, south of Paris, are worth more than 2 million euros ($2.2 million) at ... Read More »

Hungary Economy Ministry publishes astonishing budget figures

BUDAPEST: Hungary’s National Economy Ministry has published details of the 2015 budget balance on Thursday, and underlined again that last year’s shortfall was around 2% of GDP. The detailed tables provided by the ministry show the following key details about budget revenues: Central budget revenues came in more than HUF 800 billion over the target, which corresponds to a 7% ... Read More »

South African ports contain capacity to handle corn imports

PRETORIA: Transnet SOC Ltd., South Africa’s state-owned ports and rail operator, says the local port system can handle all the country’s estimated corn-import needs as it draws up plans to meet demand amid the worst drought in more than a century. South Africa, which is usually a net exporter of corn, will probably need to import 5 million to 6 ... Read More »

Ireland police arrest two drug smugglers

COLERAINE: Two people have been arrested in connection with the production and smuggling of cocaine in Coleraine. A 30-year-old woman and 34-year-old man have been arrested after police conducted searches at four addresses in Coleraine. At one of the addresses, a cocaine press and a large quantity of bulking agent was seized, alongside other items of drug paraphernalia. Police said ... Read More »

GWC’s full year net profit grows 32% to QR185m

DOHA: GWC, Qatar’s leading logistics provider, concluded the year 2015 with a strong and stable rate of growth of 32 percent in its net profits, achieving QR185m compared to QR140m by the end of 2014. The company’s revenue streams had an equally consistent rise, with total revenues peaking at QR787.9m at the end of 2015, a solid 20 percent increase ... Read More »

NBK net profit rises 7.8% to $929.7m in 2015

KUWAIT: National Bank of Kuwait (NBK) reported net profits of KD 282.2 million ( $ 929.7 million) for the year 2015 compared with KD 261.8 million ( $ 862.6 million) in 2014, growing 7.8 percent year-on-year. Total assets as of year-end 2015 reached KD 23.6 billion ( $ 77.8 billion) up 8.3 percent compared to year-end 2014, while total shareholders’ ... Read More »

S. Africa’s shale gas to boost business development

PRETORIA: South Africa’s shale gas has the potential to boost business development within communities, establish black industrialists, create employment and develop specialised skills and the youth, says Minister for Mineral Resources Mosebenzi Zwane. “Currently South Africa is a net importer of energy sources such as crude oil, refined petroleum products and natural gas. It is estimated that the Karoo shale ... Read More »

SL’s inflation slow down to 4.2% in Dec

COLOMBO: Sri Lanka’s national inflation measured by National Consumer Price Index (NCPI) in December 2015 slowed down to 4.2 percent from 4.8 percent a month ago, data released by the Department of Census and Statistics (DCS) showed. The NCPI for December rose index points 1.2 or 1.1 percent—0.89 percent from food and non-alcoholic beverages and 0.12 percent from non-food items— ... Read More »

Ceylon Cold Stores 3Q16 net profit up 106% to Rs.651mn

COLOMBO: Ceylon Cold Stores PLC (CCS), one of the two fast-moving consumer goods arms of John Keells Holdings PLC, posted a net profit of Rs.651.62 million for the quarter ended December 2015 (3Q16), growing 106 percent year-on-year (yoy). Earnings per share (EPS) increased to Rs.6.86 from Rs.3.33 yoy, while dividend per share remained at Rs.5, against a share price of ... Read More »

Zimbabwe’s imports down 13%

HARARE: Zimbabwe’s imports maintained a downward trend declining by 13 percent from $516 million to $449 million between October and November last year, official data shows. The Zimbabwe National Statistical Agency (Zimstat) has revealed that last October, the country recorded a 12 percent decline compared to $584 million recorded in September. According to the Zimstat data, during the period under review, ... Read More »

Malaysia Customs seizes smuggled cigarettes worth RM800,000

KUALA TERENGGANU: State Customs Department enforcement officers seized 115 boxes of smuggled cigarettes worth RM828,920 after a 45-minute chase with a lorry which was initially spotted near the Gemuruh Plaza Toll here, on Tuesday. State Customs Department director Datuk Hamzah Sundang said however, a team of officers from the department managed to block the lorry near the Kuala Terengganu police ... Read More »

Drug dealers busted after high-speed chase

MALACCA: Two suspected drug dealers including a uniformed personnel were nabbed by police after a high-speed chase in Taman Bertam Indah in Bertam Hulu here earlier today. The duo, aged 27 and 33, had earlier rammed their car into a motorcycle ridden by a police motorcycle patrol unit (URB) personnel, causing the car to stall. Melaka Tengah police chief Assistant ... Read More »

Indonesia issues permits to import 968,143 MT of raw sugar in Q1 of 2016

JAKARTA: Indonesia has issued permits to import 968,143 metric tons of raw sugar in the first quarter of 2016, a trade ministry official said on Friday. The government is currently reviewing how often it needs to issue import permits for raw sugar, said acting director general of foreign trade, Karyanto Suprih. Previously, the government had said it was planning to issue ... Read More »

Germany imports 54 mln tons of hard coal in 2015

FRANKFURT: Germany imported 54 million tonnes of hard coal in 2015, 4 percent less than in the previous year, coal importers’ lobby VDKI said on Thursday. 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 ... Read More »

India DRI seizes gold bars worth over Rs 20 million

CHENNAI: Officials of the Directorate of Revenue Intelligence (DRI) on Thursday seized 8.325 kg of gold bars worth Rs. 2.21 crore from two persons travelling in a SUV near Thanjavur. The suspects admitted that the gold consignment was smuggled into India from Sri Lanka and they received it along the Vedaranyam coast with the help of a country boat. Based ... Read More »

Australian police seize half tonne of drugs worth over $167m

CANBERRA: Almost half a tonne of methamphetamine and precursors smuggled into Australia in bar stools and soup packets have been seized by federal police, resulting in four arrests. More than $167 million worth of methamphetamine and enough ephedrine to make 250 kilograms of meth were taken by drug authorities at addresses in Sydney’s Kingsgrove and Penshurst after being imported on ... Read More »

Japan to renew oil imports from US

TOKYO: Japan will renew oil imports from the United States after US Congress lifted a 40-year export ban last month, Japanese media reported Tuesday, according to Sputnik News. The crude export ban was attached to a 2016 omnibus spending bill, which President Barack Obama signed into law on December 18. Some North Dakotan oil producers may go out of business ... Read More »

U.K police seize drugs worth £2m

BEDFORSHIRE: Drugs with an estimated street value of £2m were recovered from a van on the M1 in Bedfordshire, police said. About 40kg (88lbs) of what is believed to be class A drugs were found in the Ford Connect van stopped by police near junction nine at 12:15 GMT here the other day. Officers also searched an address in Borehamwood ... Read More »

Ukraine imports natural gas from Europe in Nov

KIEV: Ukraine in November 2015 imported natural gas from Europe at an average price of $237.4 per 1,000 cubic meters, which is 4% less than in October 2015 ($247.2). According to the State Statistics Service, in November natural gas in the total amount of 752.1 million cubic meters worth $178.548 million was delivered from Europe. At the same time, if ... Read More »

Singapore’s ICA seizes over 3,000 cartons of contraband cigarettes

SINGAPORE: More than 3,000 cartons of contraband cigarettes were seized at Jurong Port on Wednesday from a lorry carrying plasticware, an Immigration & Checkpoints Authority (ICA) statement said today. The lorry had been driven by a 57-year-old Singaporean man. ICA officers had directed the driver to Jurong Scanning Station for radiographic scanning, after they stopped the vehicle for checks at ... Read More »