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Author Archives: CT Report

Oman to set up business promotion offices abroad

MUSCAT: Investment promotion offices are planned to be set up in several countries, said a senior official at the Oman Chamber of Commerce and Industry (OCCI). The chamber will focus in a major way this year on business and investment opportunities in Oman, and offices will be set up in five countries, Redha Juma Mohammed Ali Al Saleh, vice-chairman at ... Read More »

Vietnam consumer price index holds stable

HANOI: The country’s consumer price index (CPI), during the first month of 2016, remained unchanged compared to the previous month, the lowest level for the past decade, excluding January of 2015. The CPI in December last year increased only 0.02 per cent over November. Statistics released yesterday from the General Statistics Office (GSO) showed that the index also inched up ... Read More »

Vietnam, EU reaches wood product agreement

HA NOI: Viet Nam and the EU last week reached important agreements during their fifth round of negotiations on the Voluntary Partnership Agreement (VPA) on Forest Law Enforcement, Governance and Trade. According to Deputy Minister of Agriculture and Rural Development Ha Cong Tuan, the talks on January 21 and 22 focused on putting in place a management system to ensure ... Read More »

Industry development index rise 7.9% in HCM City

HCM CITY: The HCM City industrial development index last year saw higher growth than in previous years, especially by four key industries, with the ratio of processing and manufacturing sectors increasing and labour-intensive and polluting industries decreasing. According to the municipal Department of Industry and Trade, the industry development index rose 7.9 per cent last year compared to 7 per ... Read More »

Finland funds local innovation incentive

HANOI: The Finland–Viet Nam Innovation Partnership Programme Phase 2 (IPP2) plans to support start-up ecosystem developers, universities and other educational organisations in Viet Nam this year to improve their innovation and entrepreneurship. The information was unveiled at the Final Demo Day in HCM City on Saturday to review the implementation of IPP2 between 2014 and 2015. Deputy Minister of Science and ... Read More »

Exports of medical, surgical goods surge by 4.38% to over $178m in H1

ISLAMABAD: The exports of surgical goods and medical instruments witnessed 4.38 per cent increase and reached of $178.152 million during first half (July-December) of ongoing fiscal year 2015-16 as compared to $168.766 million exports of the corresponding period of last year. According the data of Pakistan Bureau of Statistics, during the period under review, about 1,469 metric tons of onyx ... Read More »

Vodafone India launches of 4G services in Kolkata

KOLKATA: Vodafone India announced the launch of 4G services in Kolkata Monday.  The company will roll out 4G in four phases in the city, said Vodafone India’s business head (Kolkata & WB), Anand Sahai at a press meet. Vodafone India will offer free upgrades to 4G customers in the city with high-speed 4G SIMs. India’s second largest carrier announced an array ... Read More »

Mobile phone imports up by 7.9% to $375m in six months

ISLAMABAD: The mobile phone imports into the country increased by 7.9 percent to $375.063 million during first half (July-December) of ongoing fiscal year as compared to $347.564 million of same period last year. According to Pakistan Bureau of Statistics (PBS), overall telecom imports saw significant decline of 7.43 percent during July- December 2015-16 compared to the same period in last ... Read More »

Number of 3G, 4G subscribers to cross 25m mark soon

ISLAMABAD: The 3G and 4G subscribers in the country are increasing with the average of 1.6 million a month and may cross 25 million mark soon. The figure issued by the Pakistan Telecommunication Authority (PTA) showed that till November last year, there were around 21.65 million 3G-4G subscribers with Mobilink leading the sector by scoring 6.8 million total 3G subscribers ... Read More »

Azerbaijan increases gas export to Turkey

BAKU: Azerbaijan supplied 574.54 mcm of gas to Turkey in November 2015 compared to 573.95 mcm, supplied in November 2014, the Turkish Energy Market Regulatory Authority reported. Azerbaijan supplied 5.57 bcm of gas to Turkey in January-November 2015. Turkey imported 4.57 bcm of gas in November 2015. Some 3.66 bcm of this volume were imported through pipelines and 916.36 mcm ... Read More »

CPEC beneficial for entire South Asia: Mushahid

ISLAMABAD: PML-Q leader and Senator Mushahid Hussain Syed has said that the China-Pakistan Economic Corridor (CPEC) is beneficial for the entire South Asia as it would help open new vistas of development and cooperation in the region. Talking to APP Mushahid said that ‘One Belt One Road’ project would help all countries of the region to develop along with China. ... Read More »

Southern Iraq oil output 4.13 mln barrels a day in Dec

BAGHDAD: Iraq’s oil production from its southern region averaged 4.130 million barrels a day in December, according to final figures released by the oil ministry on Sunday. The region produced more than 128 million barrels during the month, of which 99.7 million barrels were exported, said the statement. The selling price averaged $29.288 cents a barrel, it added. The southern ... Read More »

Russian GDP decreased 3.7% last year

MOSCOW: The Russian statistics agency Monday said reported that the country’s gross domestic product (GDP) fell 3.7 percent in 2015. The figure is in line with an earlier economy ministry estimate, cited by President Vladimir Putin at his annual press conference in December. Russian GDP increased by 0.6 percent in 2014. Russia – whose energy-reliant economy has already been pushed ... Read More »

Railways retrieved over 3,498 acres encroached land in 4 years

ISLAMABAD: The Pakistan Railways has retrieved more than  3,498 acres of its land from encroachers during the last four years. An official in the Ministry of Railways told APP that a total of 3,498.579 acres of Railways land was retrieved and regularised till November 30, 2015 after a detailed survey and subsequent campaign launched against encroachers on directives of the ... Read More »

Google to pay less tax in Ireland on British profits after deal

DUBLIN: Google will pay less tax in Ireland on the profits from its lucrative British business after the company settled a UK tax audit for £130 million (€171.8 million) and agreed to pay higher tax in future to the London authorities. The internet search engine and advertising giant, long criticised for aggressive tax strategies at its Irish unit, had been ... Read More »

Nigeria’s non oil export volume hit $613 mln in Q3 of 2015

ABUJA: Nigeria’s non-oil export volume in the first three quarters of 2015 hit US$613 million, Mr Olusegun Awolowo, Executive Director of Nigerian Export Promotion Council (NEPC), has said. Awolowo said in Abuja on Saturday that the statistics of non-oil exports dipped a little in 2015 when compared to the preceding year. He attributed the reasons for the reduction to the ... Read More »

40% sugar cut in fizzy drinks can prevent 300,000 diabetes cases

ISLAMABAD: A study has revealed that cutting sugar in fizzy drinks by 40 per cent can prevent over 300,000 obesity-related Type 2 diabetes in next two decades. An average reduction in energy intake of 38.4 kcal (calories) per day by the end of the fifth year will lead to an average body weight decrease of 1.20 kg in adults, leading ... Read More »

Frozen Iranian funds freed up from Swiss banks

GENEVA: Switzerland has freed up money from Iran that was frozen in Swiss bank accounts. It’s come after sanctions against the state were lifted. CHF12 million ($11.8 million) had been stopped from leaving Switzerland after being frozen between 2007 and 2012, as part of a sanctions programme against Iran to attempt to force the country not to develop and build ... Read More »

New Zealand export log prices jump

WELLINGTON: New Zealand export log prices jumped higher this month, as falling oil prices pushed down shipping rates while a decline in the kiwi dollar made the country’s goods more attractive to overseas buyers. The average wharf-gate price for New Zealand A-grade logs rose to $115 a tonne in January, from $104 a tonne in December, according to AgriHQ’s monthly ... Read More »

Greece: Significant contribution of agro-food exports to the economy

ATHENS: Despite the unfavourable economic climate, which has affected exports in 2015 and taken a negative toll to almost all sectors, olive oil, fruit and vegetables and processed products have shown even the most sceptical that Greece is still in a position to hold a good share of the global market. In 2015, two billion Euro have gone into the ... Read More »