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Author Archives: CT Report

China’s online gaming industry revenue grows by 30%

BEIJING: The revenue of China’s online gaming sector kept growing by around 30 percent annually in the past eight years, according to data revealed by the Ministry of Culture on Friday. Games produced in China accounted for more than 70 percent of the 133.1 billion yuan (about $20 billion) generated by the sector in 2015, according to the ministry. It ... Read More »

Association warns of slow auto sales during January

BEIJING: China’s auto dealers might find the road a little rocky in January after customer demand was largely met at the end of 2015, warned a senior official at the China Automobile Dealers Association. According to a CADA survey, customer demand in December stood at 66.8 percent, a nearly 23-percent rise from November. Transactions at dealerships rose to 50.3 percent ... Read More »

Japan presses Singapore to ease ban on Fukushima food imports

TOKYO: Japan pressed Singapore to ease its ban on Fukushima food imports, following the European Union’s move to relax restrictions on imports from the area, according to media reports on Sunday. Japanese agriculture minister Hiroshi Moriyama said the Asian financial hub would take “proactive” steps to meet Tokyo’s request, after holding talks with Singapore’s Minister for National Development Lawrence Wong, ... Read More »

Norway seafood exports more than double in 10 years

OSLO: Norway exported seafood worth NOK 74.5 billion in 2015. This is 8 per cent, or NOK 5.8 billion, more than the record year of 2014. “In a year with trade restrictions in several markets and an import embargo in Russia, the result was better than expected. A weak Norwegian krone, combined with good demand for fresh products in particular, ... Read More »

Egg imports from Ukraine to Israel halted

KIEV: Eggs imported from Ukraine, where there is no mandatory inoculation of chickens against salmonella, were sold in Israel for four months before the Agriculture Ministry discovered that Ukrainian eggs tainted with salmonella were being sold. The ministry only inspected the eggs amid a sharp rise in food-borne illnesses among Israeli children, while one adult died of salmonella. The inspectors ... Read More »

Kazakhstan shipped record high volumes of linseed for export

ASTANA: Linseed exports from Kazakhstan reached 45.3 KMT in November, that was 76% higher than in October and 54% higher than in November 2014. Thus, during three months of season 2015/16 linseed exports from Kazakhstan was record high – 83.2 KMT. For instance, 50 KMT were exported during the same time period last season. Traditionally, more than 80% of linseed ... Read More »

China consumer prices growth hit 6-yr low in 2015

BEIJING: China’s consumer inflation continued to slow in 2015 due to lackluster domestic demand amid a slowing economy, official data showed on Saturday. The consumer price index (CPI), a main gauge of inflation, increased 1.4 percent year on year in the last year, down from a 2 percent increase in 2014 and 2.6 percent in 2013, the National Bureau of ... Read More »

China’s forex reserves ‘abundant’: regulator

BEIJING: China’s foreign exchange reserves are “relatively abundant” despite a record monthly drop, the State Administration of Foreign Exchange (SAFE) said Saturday. China’s foreign exchange reserves fell by $107.9 billion in December to 3.33 trillion at the yearend, the lowest level in more than three years, according to central bank data. Nevertheless, China still holds the world’s largest foreign exchange ... Read More »

China to invest $11.7bn into new airports this year

BEIJING: China is to invest about 77 billion yuan ($11.7 billion) this year on the construction of civil aviation infrastructure, especially airports, according to the Civil Aviation Administration of China. The agency said it will step up construction of important new airports, including those in Beijing, Chengdu, Qingdao, Xiamen and Dalian. Eleven key infrastructure projects and 52 upgrades or expansion ... Read More »

Bank deposits in Albania rise to $7.7bn in Nov

TIRANA: The total deposits in Albania’s banking system rose to 974 billion Lek (7.7 billion U.S. dollars) by the end of last November, according to a report released Friday by the Bank of Albania. Deposits of individuals and businesses increased by 2 billion Lek (1.6 million dollars), up 2.5 percent from the previous month in annual terms. Term deposits in ... Read More »

ADB’s operations hit record high of $27.15bn in 2015

MANILA: The Asian Development Bank (ADB) said here the other day that its operations reached an all-time high of 27.15 billion U.S. dollars in 2015. Last year’s level of operations, consisting of approvals of loans and grants, technical assistance, and co-financing, was 19 percent higher than the 22.89 billion U.S. dollars in 2014. “Our record performance last year reflected strong ... Read More »

Dubai-Saudi trade half of emirate’s GCC trade

RIYADH: Trade exchange between Dubai and the GCC hit Dh96.19bn from January to September 2015. Saudi Arabia has retained its position as the top trading partner of Dubai among GCC states, Arab countries and Middle East. Saudi has been the fourth top trading partner of Dubai on the global level throughout the first nine months of 2015. Dubai’s non-oil trade ... Read More »

Iran to double oil exports to Japan

TEHRAN: It has been estimated that oil exports to Japan will increase twofold once the international sanctions are nullified. In the current situations, despite the surplus of 1.5 to 2 million barrels of crude oil in the market causing a serious challenge for oil producers and exporters, National Iranian Oil Company (NIOC) is seeking to extend oil sale contracts with ... Read More »

Singapore gov’t announces $13.2bn plan to support R&D in next 5 years

SINGAPORE: A plan of 19 billion Singapore dollars (13.2 billion U.S. dollars) aimed at supporting Singapore’s research and development efforts over the next five years was announced by the city state’s Prime Minister Lee Hsien Loong here the other day. Lee also unveiled Research Innovation Enterprise 2020 Plan (RIE2020), the sixth roadmap for research and development, which he thought is ... Read More »

Indian launch smuggling 400,000 liters of diesel seized in southern Iran

TEHRAN: An Indian launch has been seized while it was trafficking 400,000 liter of diesel from the Iranian port city of Chabahar. While the coast guard was monitoring the area on Friday, they caught the Indian commercial launch red-handed, said Sistan and Baluchistan border commander Brigadier General Roham-Bakhsh Habibi. “The launch has trespassed on the region and when caught seven ... Read More »

Nigeria Customs seized N2.7bn goods in 2015

ABUJA: The Nigeria Customs Service, Federal Operations Unit, Zone ‘C’, Owerri says it has recorded a total of 467 seizures of illegally imported items with an overall Duty Paid Value of N2,709,807,358 in the year 2015. The Customs Area Controller of the Unit, Mr. Victor Dimka, gave the detail of the seizure while briefing newsmen in Owerri. Dimka said 316 ... Read More »

Iran to start exporting dairies to Russia soon

MOSCOW: Iran’s media said on Tuesday that a leading domestic dairy company has received the authorization to export its products to Russia. Four major provincial offshoots of Iran Dairy Industries Company (IDIC) – Pegah Fars, Pegah Tehran, Pegah Golpayegan and Pegah Isfahan – will start exporting their products to Russia from 20 January 2015. IDIC Managing Director Ali Roomi said ... Read More »

Philippines Customs fails to achieve $9.24bn revenue goal in 2015

MANILA: Despite an increase in revenue collection, the Bureau of Customs (BOC) has been consistent in missing its annual target. BOC data show that the revenue-generating agency failed to attain its P436-billion ($9.24 billion) revenue goal in 2015 after it only collected P366 billion ($7.76 billion) – a shortfall of P70.56 billion ($1.45 billion) for the year. Last year’s deficit ... Read More »

US imports of gold jewellery reach to 7 year high in Oct

WASHINGTON: US imports of gold jewellery rose to a seven-year high in October while platinum jewellery imports surged by more than 60 percent after precious metal prices fell to multiyear lows, Thomson Reuters GFMS calculations showed. “The United States continued to import large volumes of gold jewellery in October,” Erica Rannestad, senior analyst of precious metals demand at GFMS, said ... Read More »

Authorities arrest man, seize meth worth over $1m

PEARL: Authorities have arrested a man after seizing methamphetamine worth more than $1 million during a traffic stop. Rankin County Sheriff Bryan Bailey tells media outlets that authorities arrested 28-year-old Domingo Avila Jr. Friday on charges of aggravated trafficking of a controlled substance. Bailey says a Pearl police officer stopped Avila’s truck on Interstate 20. After Avila consented to a ... Read More »