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Author Archives: CT Report

India-Bangladesh ties to improve more

DHAKA: India-Bangladesh relations will further improve as bus services between the two countries improve leading to more trade, Tripura Governor Tathagata Roy said on Tuesday. “Direct bus services between northeastern states and Kolkata via Bangladesh have been spread out and the number of passenger bus trips between Agartala, Kolkata, Shillong and Guwahati and Dhaka have increased,” Roy said after unfurling ... Read More »

Jordan-German agree to boost economic, trade ties

AMMAN: Prime Minister Abdullah Ensour on Tuesday discussed with German Minister of Economic Cooperation and Development Gerd Muller, Jordanian-German ties as well as ways to further boost them in various fields. During the meeting, which was attended Minister of Planning and International Cooperation Imad, Fakhoury, Labour Minister Nidal Qatamin, State Minister for Media Affairs Mohammad Momani and German Ambassador to ... Read More »

Ukraine uses 43% of green house gas emission quota in 2008-2012

KIEV: Ukraine used only 43% of its green house gas emission quota in the amount of 4.6 billion tonnes obtained for the first period of the Kyoto protocol in 2008-2012. This is outlined in cabinet resolution No. 20 of January 20, 2016 posted on the cabinet’s website. “The Ecology and Natural Resources Ministry is ordered to add information on the ... Read More »

China’s coal imports from Australia fall 25% in 2015

BEIJING: China imported 70.86 million tonnes of coal from its top supplier Australia in 2015, down one quarter compared to 2014, customs data showed on Tuesday, with demand in the world’s biggest energy consuming country declining rapidly. Overall imports, excluding lower-grade lignite, declined 31.5 percent to 155.81 million tonnes during the year, figures from China’s General Administration of Customs showed. ... Read More »

Air New Zealand signs deal with STA Travel to boost revenue

WELLINGTON: Air New Zealand has signed a three year partnership with STA Travel to boost revenue and promote inbound tourism to the youth and student market. The deal will focus on generating sales using  STA Travel’s global distribution network in the priority markets of New Zealand, Australia, United Kingdom, North America and Asia. Air New Zealand chief sales and commercial ... Read More »

Japan steel exports fall to 4 year low in 2015

TOKYO: Japan’s steel exports last year fell to their lowest since 2011, dented by a surge in shipments from China. Steelmakers around the world are grappling with the fallout of massive exports of cheap steel from China, with producers there turning overseas as local appetite wavers due to the country’s slowing economy. Steel exports by Japan, the world’s second-biggest steel producer, ... Read More »

French defence groups enjoy exports boom

PARIS: President François Hollande may have had little success reviving France’s sluggish economy, but his socialist government has become an effective lobbyist for French defence companies seeking deals abroad. Last year the state helped the French defence industry win a record €16bn worth of overseas orders, according to the government, including cruise missiles, fighter jets and warships. The exports have ... Read More »

Polish unemployment increases 9.8% in Dec

WARSAW: Registered unemployment in Poland hit 9.8 percent in December, according to the country’s Central Statistical Office (GUS). The figure was 0.2 percentage points up on November, but down from the 11.4 percent in December 2014. According to the Central Statistical Office, 1.56 million people were registered as unemployed in Poland in December. More than 230,000 people looking for work ... Read More »

Swiss watch exports slip on strong franc

ZURICH: Switzerland’s watch-industry exports fell in 2015 for the first time since the global financial crisis, dragging overall exports lower as manufacturers battled a stronger Swiss currency and weak demand in important markets in Europe and Asia. Swiss watch shipments, a proxy for sales, fell 3.3% in 2015 to 21.52 billion francs ($21.26 billion) from the previous year, according to ... Read More »

Polish economy grows 3.6% in last year

WARSAW: The Polish economy grew 3.6 percent last year, up from 3.3 percent in 2014, the country’s Central Statistical Office (GUS) said on Tuesday, giving a preliminary estimate. Analysts told the PAP news agency earlier this month that they expected Polish GDP to grow 3.5 percent in 2015. Domestic demand last year grew 3.4 percent, while investments rose 6.1 percent, ... Read More »

Irish beef exports to US may still top €100m

DUBLIN: In spite of a disappointing  2015, Irish beef exports to the US could still reach the €100m mark in the foreseeable future, according to Bord Bia. Irish beef exports to the US in 2015 were valued at about €11m, a far cry from the €50-100m value the Minister for Agriculture Simon Coveney had estimated for the year, following the ... Read More »

Philippines’ imports surge by 10.1% in Nov

MANILA: The Philippines’ trade deficit widened in November as imports rose at a double-digit pace, expanding for a sixth month on a surge in the purchases of electronic products as well as industrial, telecommunications, and transport equipment. The Philippine Statistics Authority said Tuesday that imports in November totalled $6.09 billion, up 10.1% from $5.54 billion in the year-earlier period. That ... Read More »

Company bankruptcies in Portugal rise 7.6% in 2015

LISBON: Company bankruptcies in Portugal rose by 7.6 percent in 2015 with a total of 7,288 folding, IGNIOS, the risk management firm said.  However, the company statement said that last year’s figures were artificially heightened due to the collapse of the state juridical system, Citius IT, over a period of 2014, which led to bankruptcies getting registered in 2015. IGNIOS ... Read More »

Canada imports 4,000 tons of butter

TORONTO: A blame game is underway in Canada aimed at whoever was responsible for the butter shortage there just ahead of the recent Christmas holiday period. As a country, Canada is one of the top producers of butter, but a recent surge in demand saw stocks run so low they almost ran out. In fact, Canada was forced to import ... Read More »

Finland’s retail trade sales increase 1.5% in Dec

HELSINKI: Sales in retail trade increased by 1.5 per cent year-on-year in December 2015, according to Statistics Finland’s retail trade flash estimate. Over the same period, the volume of retail trade sales grew by 3.0 per cent. In daily consumer goods trade, sales also grew by 0.1 per cent and the sales volume by 1.3 per cent in December from ... Read More »

Govt releases over Rs 316.351m for Industries & Production Division

ISLAMABAD: The federal government has released Rs 316.351 million for several developmental projects of Ministry of Industries and Production Division under its Public Sector Development Programme (PSDP) 2015-16. According the data released by Planning Commission of Pakistan, the government has allocated Rs 790.881 million for 17 developmental projects under Ministry of Industries Division in the PSDP 2015-16. So far Rs ... Read More »

UAE insurer ADNIC plans to boost capital by $106 mln

ABU DHABI: Abu Dhabi National Insurance Company (ADNIC) plans to boost its capital by 390 million dirhams ($106 million), it said on Monday, and several sources said it would do this with a convertible bond issue. The company has posted a run of weak earnings due to a poor underwriting performance on core commercial business lines, leaving the insurer needing ... Read More »

Jawzjan revenue surges; high tax rates sparks resentment

SHIBERGHAN: The revenue of northern Jawzjan province has surged by more than 50 million afghanis this year, but taxpayers complainof rising duties. Jawzjan’s revenue target fixed by the Ministry of Finance was 219 million afs, but the provincial authorities collected more than 270 million afs in 2015, the revenue director said. Mohammad Rassoul Anwari told Pajhwok Afghan News the income ... Read More »

Hungary ready to invest in Azerbaijan

BUDAPEST: Hungarian Eximbank has expressed readiness to invest in establishing a regional DATA-center in Azerbaijan, Hungarian ambassador to Baku Imre Laszloczki told Trend. The project on regional DATA-center is implemented with the support of the UNDP. The first such DATA-center in the region will ensure stable operation in case of failure of any node of the system, as it will ... Read More »

SK Hynix profits slash by half in 4Q

SEOUL: South Korean semiconductor giant SK Hynix’s profits have slashed by half in fourth quarter. The company’s profits decreased mainly due t slowing global demand for personal computers and smartphones, it said Tuesday. Global PC sales last year hit an eight-year low and sales of high-end smartphones slowed as gadget makers increasingly shifted focus to fast-growing mid- or low-end markets. ... Read More »