Tuesday , July 7 2020
Breaking News
Home / Author Archives: CT Report (page 3332)

Author Archives: CT Report

Hong Kong-China markets close higher, with oil stocks taking the lead

HONG KONG: The Hong Kong and mainland China stock markets rose in early trade on Monday amid expectations Beijing may introduce fresh stimulative polices before the Lunar New Year, hopes for more monetary easing in Europe and a bounce back in oil price that pushed global markets up. The Hang Seng Index was up 1.83 per cent or 349.51 points ... Read More »

Indonesia imports electricity from Malaysia

JAKARTA: Indonesia, through its state power utility company PLN, has started importing electricity from Malaysia through Sesco, the Malaysian electricity firm, according to PLN spokesman Agung Murdifi. Indonesia began importing power from Malaysia after the interconnection power grid between the two countries was built on January 20, 2016. Agung remarked here the other that the power supply from Malaysia was ... Read More »

Adidas to cut short IAAF sponsor deal

LONDON: German sportswear company Adidas AG is to end its 11-year sponsorship deal with the International Association of Athletics Federations (IAAF) almost four years early, the BBC reported on Sunday. The BBC said Adidas, the biggest sponsor of the sport’s governing body, decided against continuing with the contract as a direct result of the doping and corruption scandal that emerged ... Read More »

Japan oil imports fall to lowest since 1988 as demand drops

TOKYO: Japan’s crude oil imports last year fell to the lowest level since 1988 as demand weakens amid a declining population and more efficient vehicles. The world’s third-biggest economy imported 195.5 million kiloliters of oil, or about 3.37 million barrels a day in 2015, a 2.3 percent drop from the previous year, according to preliminary data from the Ministry of ... Read More »

Malaysia keeps February crude palm oil export tax unchanged at zero

KUALA LUMPUR: Malaysia, the world’s second-largest palm producer after Indonesia, will maintain its crude palm oil export tax at zero for the 10th consecutive month in February, a government circular showed. The Southeast Asian nation calculated a reference price of RM2,153.74 per tonne for February. A price above RM2,250 per tonne incurs a tax, which starts from 4.5% and can ... Read More »

VIVA net profit rises by 6% to KD 43m for 2015

KUWAIT: VIVA, Kuwait’s fastest-growing and most developed telecom operator, announced its financial results at the end of the 2015, with net profits of KD 43 million, a 6 percent increase compared to 2014. Dr Mahmoud Ahmad Abdul Rahman, VIVA’s Chairman, commenting on the financial results: “VIVA reached in 2015 the best financial and operational results and achieved a level of ... Read More »

Doha Bank profits up at QR1.37bn

DOHA: Doha Bank recorded an impressive QR1.37bn net profit for the year 2015, reflecting a growth of more than 1.1 percent as compared to QR1.35bn for the year 2014. Announcing the financial results, Doha Bank Chairman Sheikh Fahad bin Mohammad bin Jabor Al Thani said the bank’s total assets increased by QR7.8bn, a growth of 10.3 percent to QR 83.3bn ... Read More »

Qatar’s real estate prices slip from peak

DOHA: Qatar’s real estate prices softened a bit during the final quarter of 2015 compared to the previous quarter, after hitting a record peak in November 2015. The Qatar Central Bank’s (QCB) updated real estate price index released yesterday shows the country’s real estate value declined 2.6 percent to 292.0 points during the Q4, 15 from 299.8 points recorded during ... Read More »

SMEs soon to access capital markets

JAKARTA: The Financial Services Authority (OJK) is set to finalize a rule that will allow small-scale enterprises to source funding from the capital market in a bid to boost economic activity. OJK chairman Muliaman D. Hadad said the financial regulator and the Indonesian Stock Exchange (IDX) were currently preparing the policy, which would allow small and medium enterprises (SME) to ... Read More »

EVA Airways reports unrealized losses of NT$5bn

TAIPEI: EVA Airways Corp on reported NT$5.48 billion (US$162.59 million) in unrealized losses from its fuel hedging positions as of Jan. 15, an increase of NT$1.93 billion from the end of last year. The unrealized losses are to offset benefits from falling international crude oil prices, as procurement costs have been locked in for the next two years, the nation’s ... Read More »

Philippines police seize illegal drugs worth P1m

CEBU: More than P1 million worth of illegal drugs were seized in separate buy-bust operations in Metro Cebu last weekend. Cebu provincial police officers conducted a buy-bust operation against a certain “Junior,” which led to the arrest of Quintino Monteras Tagpuno Jr. inside his home in Hillside Village, barangay Bulacao, Talisay City, southern Cebu shortly after midnight yesterday. A police ... Read More »

Commissioner assures to regularly consult KCCI for resolving issues

KARACHI: Commissioner Karachi Asif Hyder Shah has said that keeping in view the massive size and diverse ethnicity of this city, it was a huge challenge to deal with civic issues but efforts will be made to resolve issues by regularly consulting with Karachi Chamber in order to provide some relief to the Karachiites. “During my tenure as Commissioner which ... Read More »

Pakistan seeks strong trade ties with Turkey

FAISALABAD:  Pakistan and Turkey enjoy excellent diplomatic relations since long which must be translated into economic terms on fast track basis, said Chaudhary Muhammad Nawaz President Faisalabad Chamber of Commerce and Industry (FCCI). He was talking to Nida Yilmaz, former Secretary General Pak-Turk Businessmen Association in his office here Saturday. He said that Nida Yilmaz is a close friend of ... Read More »

Chief Commissioner ICT assures to resolve issues of traders on priority

‏ISLAMABAD: Business community was playing an important role in the development of local economy and Islamabad Capital Territory Administration would make all possible efforts to resolve key issues of trade and industry on priority basis. This was assured by Zulfiqar Haider, Chief Commissioner ICT while talking to a delegation of Islamabad Chamber of Commerce and Industry that called on him ... Read More »

Towel export up by 4.46% to $396.196m in six months

ISLAMABAD: The country’s towel exports increased by 4.56 per cent $396.196 million during first half of the ongoing fiscal year as compared to $380.823 million of corresponding period last year. According to the Pakistan Bureau of Statistics, during the period from July-December, 2015, about 87,413 metric tons of towel exported as compared the export of 81,112 metric tons of same ... Read More »

130,000 poultry units distributed under CM’s self-employment program

RAWALPINDI: As many as 130,000 poultry units have been distributed in rural areas on subsidized rates under the CM’s Rural Self-Employment Programme. Talking to APP, Director Poultry Research Institute, Dr Abdul Rehman said that during current fiscal year a total 200,000 poultry units would be distributed in 36 districts of the province. The basic concept of the programme was to ... Read More »

Govt collected Rs 183b gas cess in three years

ISLAMABAD: The government has collected around Rs 183 billion on account of Gas Infrastructure Development Cess (GIDC) from January 2012 to December 31, 2015, official sources in Ministry of Petroleum and Natural Resources said. “The GIDC was levied from January 2012 and the amount collected under GIDC stood at Rs 183.86 billion,” they told APP. Giving province’s wise breakup, they ... Read More »

Sunflower cultivation to be enhanced to 87,000 acres in Punjab

SIALKOT: The Punjab government has stated acting on the plan to promote sunflower and other oil seed crops in the province. The step has been taken to produce maximum edible oil aimed at reduce import and produce maximum edible oil in the province. The sowing of sunflower crop will be completed by the end of next month in various parts ... Read More »

OGDCL determined to drill 31 new wells in FY2015-16

ISLAMABAD: The Oil and Gas Development Company Limited (OGDCL) is determined to meet the target of drilling as many as 31 new well during the ongoing fiscal year 2015-16. “Under the target, the company has to dig 31 wells in all province and it will hopefully be achieved by end of June this year,” official sources in the company told ... Read More »

Adhi field’s capacity enhanced to produce gas, NGL, LPG

ISLAMABAD: The Pakistan Petroleum Limited (PPL) has claimed to increase capacity of the Adhi Field to produce gas, natural gas liquid (NGL), liquefied petroleum gas (LPG) with the commencement of its third plant, official sources revealed Sunday. The newly-inaugurated plant-III has the potential to produce 25mmscfd (million standard cubic feet per day) gas, 5,300bbld (billion barrels liquid per day) NGL, ... Read More »