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Mexico’s Jan inflation expected to accelerate

MEXICO CITY: Mexico’s January inflation is expected to have accelerated in January. The bi-weekly series had indicated that inflation through mid-January accelerated to 2.48% y/y from the record low of 2% y/y through mid-December. This trend is expected to carry on in January, and the second bi-weekly series for January is likely to indicate that inflation accelerated to 2.77% y/y. ... Read More »

Bangladesh’s annual inflation eases slightly in Jan

DHAKA: Bangladesh’s annual inflation eased slightly in January as food prices rose at a slower pace, the planning minister said on Tuesday. Consumer prices in January were 6.07 percent higher than a year earlier, slowing from a rise of 6.10 percent in December, Mustafa Kamal told a news conference. Annual food inflation in January fell to 4.33 percent from 5.48 ... Read More »

Sri Lanka’s Distilleries group net rise 11%

COLOMBO: Profits at Distilleries Company of Sri Lanka, which has interests in alcohol, plantations, insurance and telecom rose 10.7 percent from a year earlier to 1.78 billion rupees in the December 2015 quarter, interim accounts showed. The group reported earnings of 5.95 rupees per share. For the nine months to December the group reported earnings of 16.63 rupees per share ... Read More »

US offer aims to net illegal fish imports

WASHINGTON: Shrimp, swordfish, cod and crab are among more than a dozen types of seafood that would be subject to increased scrutiny under a US plan to curb illegal imports, US officials said. The proposal announced by the National Oceanic and Atmospheric Administration “will collect data about harvest, landing, and chain of custody of fish and fish products” involving 16 ... Read More »

Annual growth in Saudi oil sector to remain positive in 2016

RIYADH: Annual growth in the Saudi oil sector will remain positive in 2016 with average oil output expected to increase slightly, as the Kingdom continues to protect its share in the oil market, according to a report. The current period of low prices is set to remain throughout 2016 pulled down primarily by persistently high oil supply, stated the report from ... Read More »

Dubai Customs Consultative Council reflects on business group’s role in Dubai Plan 2021

DUBAI: The United Arab Emirates has sagely handled the heightened turbulence in global economy, becoming a successful model of sustainable economy, under the UAE’s wise leadership, said His Excellency Sultan Ahmed bin Sulayem, Chairman of DP World and Chairman of Ports, Customs & Free Zone Corporation ; who underlined that the State’s clear vision of diversifying economy and income sources ... Read More »

Colombia, UAE cooperate on trade lines

ABU DHABI: The decision was made at a high-level meeting between Colombia’s Deputy Foreign Minister Minister for Multilateral Affairs, Francisco Echeverri, and the UAE Deputy Minister for Economic Affairs Khalid Ghanim Al Gaith. tradeOfficials of both sides expressed their willingness to “establish measures to encourage commercial interest between the two countries” in order to expand their economic, trade and investment ... Read More »

Hong Kong, India sees big potential in tech cooperation

HONG KONG: Hong Kong and India are set to broaden trade cooperation and see technology corporation as an area of great potential, according to CY Leung, Chief Executive of the Hong Kong Special Administrative Region, who led the Hong Kong delegation to a business gathering hosted by the Hong Kong Trade Development Council (HKTDC) on Friday at the Shangri-La Eros ... Read More »

Vinamilk revenue increases 14% in 2015

HANOI: Vietnam Dairy Products, better known as Vinamilk, had sales of 40 trillion dong ($1.7 billion) in the year through December, up 14% on the year. Net profit attributable to shareholders of the parent company expanded 28% to 7.77 trillion dong, the company reported last week. Vinamilk’s overseas sales rose 39% to 7.96 trillion dong last year, contributing 20% to its ... Read More »

Commonwealth Bank of Australia to post slow revenue growth

SYDNEY: Australia’s major banks kick off their reporting season this week with their shares suffering the worst start to a year since the global financial crisis, as a slowing mortgage market and tighter capital rules crimp margins and profits. Analysts expect Commonwealth Bank of Australia to post its slowest half-yearly revenue growth since June 2014 on Wednesday, as one of ... Read More »

Vodafone Portugal launches The QyouU’s linear channel

LISBON: Vodafone Portugal has launched The QyouU’s linear channel on its IPTV service, Vodafone TV. The service will air to almost 400,000 subscribers across the country. The launch marks The Qyou’s entry into the Portuguese market. The boom in consumer appetite for online video content is undeniable – in Portugal, more than 40% of consumers watch online video several times ... Read More »

Botswana’s diamond exports down 38% in 2015

GABORONE: Exports of diamonds mined in Botswana fell 38% to $2.4-billion last year from $3.9-billion in 2014, the southern African country’s lowest shipment of gems in six years. Data published by the Bank of Botswana on Monday showed that the value of exports from the major diamond mines in Botswana have not been lower since the 2009 global financial crisis ... Read More »

Germany runs up highest trade surplus

FRANKFURT: Germany clocked up its highest-ever trade surplus in 2015 as both exports and imports powered ahead to new records, official data showed on Tuesday. German exports jumped by 6.4 percent to 1.196 trillion euros ($1.3 trillion) in the whole of 2015 and imports advanced by 4.2 percent to 948 billion euros, the federal statistics office calculated. That meant that the ... Read More »

UK trade deficit widens in 2015

LONDON: Britain’s trade deficit worsened in the final quarter of 2015 amid global market turmoil and a slowdown in emerging market growth that has hit exports. The shortfall between exports and imports widened from £8.6bn in the third quarter to £10.4bn, fuelling concerns that UK’s deteriorating trading position will be a drag on GDP growth this year. Figures from the Office ... Read More »

Bank resources rise 10.5% to P11.9 T in Philippine

MANILA: Total resources of banks in the Philippines strengthened further, booking a double-digit growth in end-November amid external shocks brought about by the normalization of the near-zero interest rates in the US as well as the economic slowdown in China. Data released by the Bangko Sentral ng Pilipinas (BSP) showed total resources of the Philippine financial system grew 10.5 percent ... Read More »

Bangladesh’s top phone operator’s revenue reaches $1.33 bln

DHAKA: Bangladesh’s top cell phone operator Grameenphone (GP) on Monday reported a revenue of 104.8 billion taka (about $1.32 billion) for 2015 — up two percent from the previous year. The company, which is listed on the Dhaka Stock Exchange, said subscription and traffic revenue (excluding inter-connection) grew by 2.4 percent along with 3.5 percent growth in device and other revenues, ... Read More »

Russia’s wheat exports expected to increase 7%

MOSCOW: Russia’s unfavorable dry weather conditions last autumn during planting of the winter cereal crops for harvest in July-August 2016, resulted in the irregular emergence of some crops, according to a Feb. 3 GIEWS Country Brief from the Food and Agriculture Organization of the United Nations (FAO). However, precipitation in November somewhat improved moisture and crop conditions before dormancy and ... Read More »

Kuwait bans imports of live birds from UK

KUWAIT CITY: The Public Authority for Agricultural Affairs and Fish Resources (PAAAFR) banned on Monday imports of live birds, eggs and oneday- old chicks from the UK because of the outbreak of the pathogenic H5N1 bird flu. PAAAFR in a statement stressed the importance of subjecting all incoming consignments to PAAAFR’s requirements and restrictions, in line with the relevant procedures ... Read More »

Russia-Turkey trade contracted 25% in 2015

MOSCOW: Trade turnover between Russia and Turkey fell to $23 billion last year and will continue to fall in the future, according to Russia’s Ambassador to Turkey Andrey Karlov. Karlov added that trade between Moscow and Ankara this year is continuing to slide. “In January, the volume of Turkish exports to Russia fell by two-thirds, and there is also the ... Read More »

China imports sunflower seed from Kazakhstan

BEIJING: According to official data, since the beginning of the 2015/16 season sunflower seed exports from Kazakhstan reached 63.6 KMT that was more than 100% higher than during the same period in season 2014/15 being a record exports figure. Almost half of the exported sunflower seed was supplied to the neighboring China in September-December (30 KMT). The remaining sunflower seed ... Read More »