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Germany set for record exports in 2016

BERLIN: German exports will rise to new record levels next year, overcoming difficulties in China and other markets mostly thanks to the weak euro, the head of the BGA foreign trade federation predicted Monday. German companies can expect “new all-time records for both exports and imports,” said Anton Boerner. His federation predicted an up to 6% rise in exports to ... Read More »

Positive trade balance in Belgium in November

BRUSSELS: The Belgian trade balance showed a surplus of 0.4 billion euros in November; exports were projected at 20.3 billion euros against 19.9 billion for imports, reveal first estimations by the National Bank. At the same time, October’s trade balance showed a surplus of 0.5 billion euros, a hike of 0.5 billlion compared to the same month last year. Export ... Read More »

Diamond industry seeks export boosting steps

SURAT: Slowdown in global markets continues to impact exports of cut and polished diamonds from India. Gems and Jewellery Export Promotion Council (GJEPC) has requested central government to introduce Special Turnover Tax regime for diamond industry with 0.75 per cent tax on sales turnover like it is in Israel, Belgium and Dubai to encourage companies of non-resident Indians to shift ... Read More »

New Zealand sheepmeat exports hit 15-year high

WELLINGTON: Sheepmeat exports from New Zealand during November 2015 reached their highest level for the month since 2000, according to AHDB. Overall volumes shipped in the month were up nearly a quarter on the previous year at 27,400t, AHDB found. This is the highest level shipped for November in 15 years. Volumes to China were up by 19% at 10,200t, ... Read More »

Brazil coffee exports may dip mid-year

BRASÍLIA: Brazil’s coffee exports could fall somewhat around mid-year due to an expected decline in stocks but overall exports in 2016 could be similar to 2015 if there is a strong harvest as expected, coffee export association Cecafe said on Tuesday. Brazil exported a record 33.33 million bags of green coffee in 2015, surpassing 32.94 million bags in 2014, Cecafe ... Read More »

Japan transfers to 5th largest export market for S. Korea

TOKYO: Japan was relegated to the fifth-largest export destination for South Korea last year with the portion of exports to Tokyo in Seoul’s overall outbound shipments dipping to a record low amid the weak yen, data showed Wednesday. South Korea’s shipments to Japan reached US$25.6 billion last year, accounting for 4.9 percent of its overall exports, the lowest-ever level, according ... Read More »

Turkish exporters eye 10% boost in sales to Iran

ANKARA: With the years-long Western sanctions against Tehran being lifted, the volume of Turkish exports to Iran is expected to rise between 8 and 10 percent year-on-year in 2016, according to the Turkish Exporters’ Assembly (TİM). TİM Chairman Mehmet Büyükekşi said the end of embargoes against Iran will contribute to an 8 to 10 percent increase in Turkish exports to ... Read More »

India may shut routing of gold import via Thailand

NEW DELHI: The finance ministry is pitching for removal of gold jewellery from the list of items allowed to be imported from Thailand at concessional duty under the bilateral treaty it has with India. The provision has undermined the government’s attempt to make the yellow metal expensive. Finance minister P Chidambaram recently hinted at initiating measures to make gold imports ... Read More »

Scottish manufactured export volumes down 0.4% in Q3

LONDON: Scottish manufactured export volumes dipped 0.4 per cent “in real terms” during the third quarter of 2015, new official figures show. The latest Index of Manufactured Exports for Scotland report, covering Q3 – July to September – of 2015, suggest the volume of manufactured exports returned to negative territory after three consecutive quarters of growth. The figures, compiled by Scotland’s ... Read More »

India’s tyre exports, production declines

NEW DELHI: Indian industry association the Automotive Tyre Manufacturers’ Association (ATMA) reports that exports of tyres from India decreased in the first half of the country’s current financial year, the period between April and September 2015. Exports of passenger car tyres produced in India fell 22 per cent year-on-year to 1.08 million units, while medium and heavy commercial vehicle tyre ... Read More »

Bangladesh seizes illegal drugs from Myanmar

DHAKA: Illegal drugs seized in Bangladesh – Myanmar police stands guard on the tower at the border guard force camp at the Myanmar Bangladesh border fence in Maungdaw, Rakhine State. As the methamphetamine drug known in Thailand as “yaa baa” spreads among Bangladesh youth, the authorities seized 2.8 million tablets this week in two raids. The seizures were valued at ... Read More »

Vietnam retail price of petrol sharply cut to 5 year low

HANOI: The retail price of petrol was sharply cut by VND590 to reach a five-year low of VND15,442 (68 US cents) per litre at 3pm yesterday. The ministries of industry and trade and finance also sent a document, asking petrol traders to lower the price of the E5 RON 92 biofuel by VND580 to touch VND14,759 (65 cents) per litre. The ... Read More »

SADC economies set for a comeback in 2016

CAPE TOWN: The World Bank says firmer commodity prices in 2016 could boost the economic growth prospects of most countries in the Sub Saharan Africa region. According to the World Bank’s Global Economic Prospects, the region is expected to grow 4,2 percent this year, from 3,4 percent in 2014. With the current electricity constraints being experienced in most countries expected ... Read More »

S. Korea to export fresh strawberries to Vietnam

HANOI: Quarantine agencies of Viet Nam and South Korea have agreed on food hygiene and safety standards for fresh strawberries from Korea, allowing Korea to export the fruit to Viet Nam. According to the Korea Ministry of Agriculture, Food and Rural Affairs yesterday, Korean strawberries were expected to be exported to Viet Nam from the beginning of next month. The ... Read More »

Zimbabwe tobacco exports up on China demand

HARARE: Zimbabwe’s tobacco export earnings rose 11 percent to $855 million in 2015 on higher prices and demand from China, an industry official said on Wednesday, but production this year could suffer from a scorching drought. Tobacco is the Southern African nation’s single largest export commodity, ahead of platinum and gold. Andrew Matibiri, general manager at Tobacco Industry and Marketing ... Read More »

Ukraine lifts ban on imports of EU beef

KIEV: Exports of bone-in beef and beef from all EU Member States to Ukraine are now allowed as Ukraine has recognised the EU single system of control on BSE, and the official sanitary status of EU Member States based on the BSE risk category of the World Animal Health Organisation (OIE) for imports. This trade-facilitating measure follows closely the entry ... Read More »

Da Lat to grow 30% flower exports by 2020

HANOI: As Lam Dong Province was aiming to expand the export of Da Lat flowers from the current 10 per cent of output to 30 per cent by 2020, greater efforts were needed. According to Pham S, Deputy Chairman of the Tay Nguyen (Central Highlands) province, a comprehensive renovation in investment strategy, and farming techniques to thinking of doing business ... Read More »

Dutch begin looking for trade opportunities in Iran

AMSTERDAM: Now that the economic sanctions against Iran are lifted, Dutch companies are starting to look for trade opportunities with the Middle Eastern country. Although Minister Lilianne Ploumen of Foreign trade warns that companies will still face obstacles in Iran, there is much expectation for the opening of the market. “Iran’s economy is simply too large to ignore, with the ... Read More »

Smuggling via cargo lanes fall 25% at borders

SINGAPORE: An ICA officer using an “identifinder” to detect radiation in a truck carrying construction sand at the Woodlands Checkpoint. THE number of smuggling cases detected among cargo vehicles at the Woodlands and Tuas checkpoints fell by around a quarter last year, latest figures revealed. There were 990 cases of contraband and prohibited items, including drugs and cigarettes, down from ... Read More »

PIA’s revenues decrease to Rs99.52b

ISLAMABAD: Despite inclusion of 16 aircrafts in its fleet, the Pakistan International Airlines’ revenue decreased. According to the sources, the overall performance of national flag carrier was not satisfactory as its revenue decreased continuously for the last seven years and its loss was increasing. The official documents reveal that the PIA generated the revenue of Rs94.56 billion in 2009, Rs107.53 ... Read More »