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Author Archives: CT Report

Vietnam to expand national greenhouse gas record system

HANOI: Prime Minister Nguyen Tan Dung has approved the building of a national greenhouse gas (GHG) inventory system with the aim of creating a legal foundation for GHG inventory accounting in the country, a Government report said. The system, which is expected to be put into operation next year, also aims to enforce the country’s current regulations relating to the ... Read More »

Customs arrests 2 for smugling Rs 1.43cr gold, diamonds

MUMBAI: Gold, diamonds and luxury goods worth Rs 1.34 crore were recovered on Saturday from two persons who arrived from Hong Kong and Abu Dhabi at Chhatrapati Shivaji International Airport. In the first case, the Air Intelligence Unit of Mumbai Customs arrested one Priyank Morakhiya, who had arrived from Hong Kong. “We recovered 1.09 grams of gold valued at Rs ... Read More »

Cooking gas prices drop sharply

HCM CITY: The retail price of a 12kg canister of cooking gas in HCM City dropped sharply by VND31,000 (US$1.38) yesterday morning, or VND20,000 ($0.9) lower than the same period last year. The major gas distributors in the southern region are now selling 12kg cooking gas canisters for VND275,000 ($12.20) to VND280,000 ($12.40) after they announced the price cut on ... Read More »

Cattle smuggling increasing along Indo-Bangla border

GAURIPUR: Smuggling of cattle-heads has been increasing along the Indo-Bangladesh border in the Dhubri sector since the past few months. It is reported that the smugglers smuggle cattle-heads by using the riverine path of the Brahmaputra river in Mankachar-Sukhchar areas under South Salmara subdivision. The smugglers carry cattle-heads through trucks along the NH-31 through the Assam-Bangladesh border at Boxirhat. They ... Read More »

Cook arrested on suspicion of smuggling drugs

NEW YORK: A cook at the Yolo County jail has been arrested on suspicion of smuggling drugs into the facility. Ricardo Navarro was arrested on suspicion of bringing a controlled substance into the jail in Woodland. Sheriff’s officials received information that Navarro might be smuggling drugs into the jail. Navarro was ed at the jail Tuesday where he works for ... Read More »

Vietnamese stocks mix on last day of trading of 2015

HANOI: The market sent out mixed signals on the last day of 2015 when shares on Viet Nam’s two stock exchanges moved in opposite directions. The benchmark VN-Index on the HCM Stock Exchange inched down 0.1 per cent to close Thursday’s session at 579 points, ending a four-day rising streak. The Index climbed 6.1 per cent in 2015, making it the ... Read More »

Police arrest driver for smuggling cattles to Valley

NEW DELHI: As per police sources, on specific information, a team from Ramban police station laid a naka near Shan Palace on Jammu-Srinagar National Highway and signaled a Tata Mahindra vehicle bearing registration number JK09-9232 for checking. On seeing police team, the driver accelerated the vehicle and tried to escape, but the cops chased and intercepted the vehicle near some ... Read More »

Sudanian mining minster calls to curb gold smuggling

KHARTOUM: Sudanese mining minister Ahmed al-Karouri has complained that citizens of a neighbouring country were active in the smuggling of his country’s gold , calling for due policies to stem the practice. Addressing his ministry’s consultative council, Thursday, Karouri said the citizens of a neighbouring country he did not name “carry out a well concerted plan to smuggle gold through ... Read More »

Vietnam Industry, trade sectors urge to take on world

HANOI: Prime Minister Nguyen Tan Dung urged the industry and trade sector to make full use of advantages and opportunities to expand export markets brought about by the global economic integration. In a speech delivered at a conference to review the sector’s activities and tasks for 2016 held in Ha Noi on Thursday, Dung underscored the great potential of the ... Read More »

SL Customs recovers Rs 600m in smuggled gold, foreign currencies in 2015

COLOMBO: Over Rs.600 million in gold and foreign currencies were confiscated by the State after being detected during smuggling attempts in 2015, Sri Lanka Customs said. Speaking to Nation, Customs Media Spokesman Leslie Gamini said Customs officials had stopped 47 attempts to smuggling in gold to the country last year. A total of 41 kilograms of gold valued at Rs.206 ... Read More »

EAC sets for major trade improve in new cargo system

NAIROBI: Trade within East Africa Trade will receive a boost this year with the implementation of the cargo pre-clearance system at the port of Mombasa by the Kenya Revenue Authority. The system which came in place yesterday allows importers to clear goods before they arrive in the country, a move expected to improve port efficiency and delivery of imports in ... Read More »

KIPCO purchases 51% JKB stake from Burgan Bank

KUWAIT: KIPCO – the Kuwait Projects Company – has announced the purchase by the Group of a 51 per cent stake in Jordan Kuwait Bank (JKB) from Burgan Bank. The purchase is part of a series of transactions by Burgan Bank to meet capital ratios required under Basel III. Following these transactions, Burgan Bank’s balance sheet will be more flexible ... Read More »

Taiwan investors suffer average loss of NT$250,000

TAIPEI: Equity investors in Taiwan suffered average losses of about NT$250,000 (US$7,560) last year, as the benchmark index fell more than 10 percent, market statistics showed on Thursday. The TAIEX closed 0.7 percent higher at 8,338.06 points on Thursday, the last trading day of the year. However, the index dropped 10.41 percent, or 969.20 points, for the year, the steepest ... Read More »

Services deficit plunges 45% in July-Nov

WASHINGTON: Services balance posted a significant improvement during the initial months of the current fiscal year supported by arrival of Coalition Support Fund (CSF) inflows and lower import bill. Services trade deficit declined sharply by 45 percent during the first five months (July-November) of this fiscal year (FY16). Services trade registered a deficit amounting to $688 million in the first ... Read More »

Iran may export 3,000MW electricity to Pakistan

Tehran: Iran can become a major energy exporter for Pakistan which can get up to 3,000MW of electricity from its western neighbour, official documents claim. According to the Foreign Office, Pakistan currently imports 74MW of electricity from Iran for its coastal Makran division. This import will be increased to 100MW this month. The two countries are considering another two projects, ... Read More »

China’s online P2P platforms shoot up 288.6% in 2015

SHENZHEN: Lending transactions via China’s peer-to-peer (P2P) platforms reached 982.3 billion yuan (about 151 bln U.S. dollars) in 2015, up 288.6 percent from 252.8 billion yuan in 2014, an Internet financial services web portal said. China’s P2P lending platforms have cumulatively brokered 1.37 trillion yuan as of the end of December, according to an annual report issued by The ... Read More »

Business delegation from China’s due in Zimbabwe next week

HARARE: A business delegation from China’s Qingdao province is due in Zimbabwe next week on a mission to explore investment opportunities in the southern African country, state radio reported Friday. Zimbabwe Broadcasting Corporation radio said the 12-member delegation, comprising officials from the Qingdao Overseas Investment Service Centre, the Qingdao branch of the People’s Bank of China, the Qingdao Bureau of ... Read More »

Shanghai’s FDI rises by 86% to $58.9bn in 2015

SHANGHAI: Shanghai’s contracted foreign direct investment shot to US$58.9 billion last year, up 86 percent on an annual basis to a record high, thanks in part to reform programs in the pilot free trade zone, the Shanghai Commission of Commerce said. There were 2,800 foreign-funded projects signed last year in the free trade zone, with a contracted value of more ... Read More »

China economy stabilized in Dec

BEIJING: China’s economy may have stabilized further in December as both manufacturing and services activities improved, two surveys showed yesterday. The official Purchasing Managers’ Index, a comprehensive gauge reflecting operational conditions in largely state-owned manufacturing companies, rose 0.1 from November to 49.7 in December, according to the National Bureau of Statistics and the China Federation of Logistics and Purchasing. The ... Read More »

Tea export sector sees rise in volume, prices

MUMBAI: Tea export sector finally has a reason to cheer about in 2016 with export volume and prices showing a rising trend from the April-October 2015 period which is likely to increase further in the new year. While the export sector suffered a declining total earning of Rs 685.45 crore or a negative 15.2 per cent in FY15, export earnings ... Read More »