Thursday , January 21 2021
Breaking News
Home / Author Archives: CT Report (page 3360)

Author Archives: CT Report

China ODI rises by 18.2% in January

BEIJING: China’s non-financial outbound direct investment (ODI) in January was 18.2 percent higher than in January 2015, Ministry of Commerce (MOC) data showed on Tuesday. Some $12.02 billion of ODI came out from China last month, the MOC said in a statement. The year-on-year increase accelerated from a 6.1-percent rise in December and was also faster than the annual growth ... Read More »

China tops Zimbabwean tobacco imports

HARARE: Zimbabwe has earned $190,5 million from 27,3 million kilogrammes of tobacco exported to different parts of the world since January 2016. Over 50 countries import flue-cured tobacco from Zimbabwe. Latest data from the Tobacco Industry and Marketing Board (TIMB) show that so far 25 countries led by China were buying Zimbabwe’s golden leaf. As of Friday last week, 27,1 million ... Read More »

China’s new yuan loans soar in January

BEIJING: China’s new yuan-denominated lending jumped to 2.51 trillion yuan ($385 billion) in January, up 71 percent from a year earlier and well above market forecasts, official data showed Tuesday. January’s new yuan loans were also about four times that posted in December 2015. Total social finance, a measurement of funds that non-financial firms and households get from the financial ... Read More »

China-Russia Expo to be held in Russia in July

HARBIN: The third China-Russia Expo is scheduled to be held in the Russian city of Yekaterinburg from July 11 to 15, the organizing committee said here the other day. It will be the first time that Russia has held the event. The first two China-Russia expositions were held in Harbin, capital of Northeast China’s Heilongjiang province. The five-day event will ... Read More »

Annual wheat imports top 185 000 tons

HARARE: Zimbabwe imports an average 185 000 tonnes of wheat every year to complement national production, a senior Government official has said. Zimbabwe requires 400 000 tonnes of wheat annually. Agriculture, Mechanisation and Irrigation Development Deputy Minister Davis Marapira said wheat production had been declining over the past years, with the country producing 61 261 tonnes last season. He said farmers ... Read More »

Brazil Jan refined petroleum fuels imports fall 74.5%

BRASÍLIA: Brazil imports of refined products such as gasoline and diesel fuel fell 74.5 percent in January from a year earlier, Brazil’s petroleum agency ANP said on Tuesday, as the country’s economy sank deeper into its worst recession in decades. Imports of diesel fell 78.8 percent, liquefied petroleum gas, or LPG, used by many Brazilians as a cooking fuel, fell ... Read More »

Myanmar-China bilateral trade hits over $9b in 10 months of 2015-16 FY

YANGON: The bilateral trade between Myanmar and China hit over $9.4 billion in first ten months (April-Jan) of 2015-16 fiscal year, sources with Ministry of Commerce said here the other day. During the period, Myanmar mainly exports oil and gas, agricultural products to China. The imports from China include industrial products and commodities. According to official statistics, bilateral trade between ... Read More »

Top oil exporters to freeze output

DOHA:Top oil exporters Russia and Saudi Arabia agreed yesterday to freeze output levels but said the deal was contingent on other producers joining in — a major sticking point with Iran absent from the talks and determined to raise production. The Saudi, Russian, Qatari and Venezuelan oil ministers announced the proposal after a previously undisclosed meeting in Doha. It could ... Read More »

Norway to remain reliable, long-term supplier of gas to Europe: oil minister

OSLO: Norway’s Minister of Petroleum and Energy Tord Lien said on Tuesday the Scandinavian country will remain a reliable and long-term supplier of gas to Europe as the European Commission confirmed the important role of gas in the continent. In its sustainable energy security package presented earlier on Tuesday by Vice-President responsible for Energy Union Maros Sefcovic and Commissioner for ... Read More »

South Africa’s export share to China rise from 1.8%

CAPE TOWN: The International Monetary Fund’s executive board announced on November 30 that the Chinese currency, the renminbi (0RMB) or yuan, would soon be included in the basket of currencies that make up its Special Drawing Rights (SDR), beside the US dollar, the euro, the British pound and the yen. The decision recognised the growing role of the Chinese currency ... Read More »

Singapore’s external trade down 9.9% in Jan

SINGAPORE: Singapore’s non-oil domestic exports (NODX), a key gauge of the export performance of the small and highly open economy, declined 9.9 percent in January on a year-on-year basis, said the International Enterprise (IE) Singapore on Wednesday. The decrease was due to a contraction in both electronic and non-electronic NODX, said IE Singapore in a press release. On a month-on-month ... Read More »

Russian DIY market down for first time since 2009

MOSCOW: Sales of DIY products and housekeeping goods declined in 2015, for the first time in six years, the Kommersant newspaper reported here the other day. The decline stands at around 5 percent, but experts expect sales to decline a further 8 percent in 2016. In 2015 DIY retail sales stood at 1.46 trillion rubles ($18.8 billion) according to the ... Read More »

Russia to deplete only half of reserve fund if oil costs $40 in 2016

MOSCOW: Experts from the Gaidar Institute for Economic Policy, All-Russian Academy of Foreign Trade and Russian Presidential Academy of National Economy and Public Administration issued a statement saying that the Reserve Fund would be spent by end of 2016 if the oil prices stayed at relatively low levels and government did not address economic difficulties. “It is very difficult to ... Read More »

Gazprom gas supplies to Italy surge 70% YoY

MOSCOW: Russia’s energy giant Gazprom increased natural gas deliveries to Italy by 70 percent in the first half of February from a year earlier, the company’s chief executive said Tuesday. “During the first two weeks of February, Gazprom supplied Italy with over a billion cubic meters of gas, which is 70 percent more that during the same period in 2015,” ... Read More »

US Customs held town hall to discuss hours of operation at Raymond Port of Entry

PLENTYWOOD: U.S. Customs and Border Protection held an informational town hall meeting on Feb. 11 to discuss an adjustment to the hours of operation at the Raymond Port of Entry (POE). CBP initially announced plans to eliminate the midnight shift at the Raymond POE in December 2015, but agreed to delay implementation in order to thoroughly explore all options.Frontal view ... Read More »

US import prices fall 1.1% in Jan

WASHINGTON: Prices for goods imported into the US fell sharply in January, the latest sign that a slumping global economy and plunging oil prices are weighing on inflation in the US. Import prices fell 1.1 per cent in January from December, matching the prior month’s decline, the US Labour Department said on Friday. Prices have fallen for seven consecutive months ... Read More »

US Customs seizes narcotics worth $274,062

BROWNSVILLE: U.S. Customs and Border Protection officers at the Brownsville Port of Entry intercepted three loads of alleged narcotics over the weekend. CBP officers discovered the alleged drugs, which carried a combined street value of approximately $274,062, hidden within the three vehicles. “Every load of narcotics that we intercept at our ports of entry helps to keep our streets safer,” ... Read More »

Aldi creates 5,000 jobs in the UK as it opens 80 new stores

LONDON: Aldi will hire 5,000 new members of staff in the UK as the discount supermarket chain plans to open 80 new stores in 2016, boosting its total number of UK stores to 700. The German budget supermarket said that the new job openings were for new and existing stores. The new positions will include managers, stock assistant and store ... Read More »

Reckitt Benckiser profits up by 4%

LONDON: Nurofen owner Reckitt Benckiser defied the gloom among many consumer goods firms as it posted strong full-year profits yesterday. The Cillit Bang to Vanish group said like-for-like sales rose by 6 per cent in the year to the end of December, pushing pre-tax profits up 4 per cent to £2.2bn compared with a year ago. Reckitt Benckiser said its ... Read More »

Ikea accused of dodging $1.1 billion in corporate taxes

LONDON: Ikea has been accused of avoiding up to €1 billion ($1.1 billion) in corporate taxes between 2009 and 2014, according to a report by Green Party ministers in the European Parliament. The European Commission has said it will investigate the claims. In a damning 34-page report, the Green Party said that different parts of Ikea were paying royalties to ... Read More »