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Author Archives: CT Report

Japan-Australia trade agreement increases

CANBERRA: Australian Prime Minister Malcolm Turnbull will reveal the successes today of the free trade agreement with Japan, namely in the agribusiness sector. The success is aided by a promotion of Australian food in Japan’s Prince hotel chain which promotes the products of 50 Australian exporters. The first figures to emerge since the free trade agreement with Japan came into ... Read More »

Indian export falls $310 billion this month

NEW DELHI: A lack of global demand continues to drag down India’s export performance and the passage of the Trans-Pacific Partnership could further impact the country’s exports. November was the 12th straight month of year-over-year declines, and the trend raises fears that India’s annual exports will fall far short of the $310 billion figure recorded last fiscal year, which ended ... Read More »

Singaporean exports fall 3.3% in Nov

SINGAPORE: Non-oil domestic exports fell last month as a contraction in non-electronic shipments outweighed an increase in electronic exports, according to trade agency IE Singapore. SINGAPORE: Non-oil domestic exports (NODX) in Singapore dipped 3.3 per cent in November, after registering flat growth the previous month, according to data released by trade agency International Enterprise (IE) Singapore on Thursday (Dec 17). ... Read More »

Hanover Park Chamber folding, joining Bartlett chamber

NEW YORK: After struggling financially for the past few months, the Hanover Park Chamber of Commerce will cease operations at the end of the year and encourage its members to be part of a revamped Bartlett Chamber of Commerce. “We had a good amount of members, but it financially made sense to join with Bartlett,” said Hanover Park Chamber of ... Read More »

Customs officials seizes over 2.2 tons of elephant tusks into Vietnam

HANOI: Hai Phong customs officials found and seized more than 2.2 tonnes of elephant tusks smuggled into Viet Nam from Mozambique yesterday. The tusks arrived at Tan Vu Port in the northern coastal Hai Phong City on November 29. They were sent by an enterprise in Mozambique to Ha Linh Import-Export JSC in the city. The goods were said to ... Read More »

Suburban Chamber elects 2016 Board of Directors

NASSAU: The Suburban Chamber of Commerce elected its 2016 Board of Directors and Officers at its annual holiday party on Wednesday evening at CWI.design in New Providence. Outgoing Chair Kassandra Romas thanked the 2015 Directors and Officers for their service and the Chamber membership for their support.  She discussed a series of accomplishments in 2015 including, among others, holding a ... Read More »

Binghamton Chamber president to retire in April 2016

NEW YORK: President and CEO of the Greater Binghamton Chamber of Commerce Lou Santoni announced he will retire in April 2016. Santoni shared his decision Wednesday with the chamber’s board of directors, staff and members. “This decision was neither easy nor quick,” Santoni said in a news release. “But I’ve come to a point in my life where I’d like ... Read More »

Dhofar Police seize drugs inside sugar sacks

MUSCAT: The Drugs Combatting Administration at Dhofar Police Headquarters in collaboration with Dhofar Customs Administration, Salalah Port Security Center managed to spot a container that contains a quantity of drugs hidden inside sugar sacks on board of one of the ships coming from Europe. As per the intelligence received by the Interpol Office at the Directorate General for Intelligence and ... Read More »

Russian trade minister to visit Iran to discuss expansion of bilateral ties

TEHRAN: Russian Trade Minister Denis Manturov is going to travel to Tehran on December 19 to discuss expansion of bilateral ties. On December 12, Tehran hosted Russia-Iran Trade and Industrial Dialogue where the two sides discussed ways to launch long-term joint ventures, and establish joint companies. Earlier this month, Manturov said Russia wants to pursue closer industrial links with Iran. ... Read More »

Saudi Arabia, Azerbaijan ink deal to enhance trade ties

RIYADH: Azerbaijan and Saudi Arabia have signed a protocol to expand cooperation in the areas of health, communications, banking, agriculture, industry, energy, sports and tourism. The document was inked as part of the 4th meeting of Azerbaijani-Saudi Arabian Joint Commission for Cooperation in Economy, Trade, Investment, Technologies, Culture, Sports and Youth. The meeting co-chaired by Azerbaijan`s Economy and Industry Minister ... Read More »

HCM City to promote 5% sales of Ethanol gasoline

HCM CITY: Ethanol gasoline E5(A92-RON petrol containing 5 per cent ethanol) will be sold at all filling stations in HCM City beginning on December 31, according to the city’s Department of Industry and Trade. Speaking at a meeting to review the sale of E5 in the last 12 months, Le Ngoc Dao, the department’s deputy director, said the city had ... Read More »

Vietnam’s local garment industry joins supply chains

HANOI: Viet Nam’s local garment industry, which until now did not have much of a role to play, has revamped its production process to join the global supply chain, experts said. Vu Duc Giang, chairman of the Viet Nam Textile and Apparel Association (Vitas), said the local garment industry had been one of the leading industries in export value but ... Read More »

Property market in industrial parks great potential for development

HANOI: The property market in industrial parks (IPs) shows great potential for development with enterprises looking to invest for better production and business opportunities once free trade agreements come into effect. According to a report of VinaCapital on the domestic property market, there was total foreign direct investment of about US$7 billion in the industrial parks in the first ten ... Read More »

Techcom launches first real estate investment trust in Vietnam

HCM CITY: Fund management company Techcom Capital is offering units in its Techcom Vietnam Real Estate Investment Trust, the country’s first public REIT. With a charter capital of VND50 billion (US$2.2 million), the company, a wholly owned subsidiary of Techcombank, expects to sell five million units of VND10,000. The fund’s custodian and administrator is the State-owned Bank for Investment and ... Read More »

Deacons Kenya sales 49% stake in Woolworths to S. African firm

NAIROBI: Clothing and household goods retailer, Deacons Kenya Limited, has sold its remaining 49 per cent stake in Woolworths Kenya Limited to South African company, Woolworths Holdings. The deal ends a three year marriage between the two. Deacons made the announcement on December 17, and declared that the transaction will be completed by December 31. The proceeds of the sale ... Read More »

India’s apparel exports increase 2.4% in April-Oct 2015

NEW DELHI: Apparel exports from India increased by 2.4 per cent year-on-year during April-October 2015, according to the Apparel Export Promotion Council (AEPC). India’s apparel exports earned $9.793 billion during April-October 2015 compared to exports value of $9.562 billion during the corresponding period of 2014, AEPC chairman Virender Uppal said in his speech at the 36th annual general meeting of ... Read More »

Indonesian crude palm oil exports decline sharply in Nov

JAKARTA: Indonesian crude palm oil exports to East African countries declined sharply in November as the Ghanese Food and Drugs Authority confiscated large quantities of adulterated CPO in major markets in Ghana. The confiscated palm oil was adulterated with an industrial dye (used in the coloration of plastics). This led to weak demand for CPO from East Africa. According to ... Read More »

Brazilian cotton exports build up in H1 of Dec

BRASÍLIA: Brazilian cotton exports warmed early this month while trades in the export market were slow; a consequence of rise in export parity and decreases in domestic demand, however, Brazilian prices were firm. “Between December 7 and 11, the CEPEA/ESALQ Index was at an average 3.9 per cent lower than exports parity,” a CEPEA report said. In the first half of ... Read More »

Turkish import ferrous scrap decreases $2 mln tons

ANKARA: Turkish import ferrous scrap fell $2/mt on Thursday, down to $188/mt from Wednesday as a trade set lower sentiment among some market sources. Sentiment remained split however, with a wide range of viewpoints being heard from market participants. Some signals were heard that buyers were sniffing around for material, though no official bids or offers were in the market. ... Read More »

Indian Essar oil imports fall 74% in 8 months from Iran

NEW DELHI: Indian refiner Essar Oil’s annual oil import from Iran plunged to its lowest level in eight months, registering a decline of about 74 percent from October, according to tanker arrival data obtained from sources and assessed by Thomson Reuters Oil Analytics. Essar, like other India refiners, had raised purchases from Iran after the July nuclear deal that may ... Read More »