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Author Archives: CT Report

Malaysia’s PPI falls by 0.6% in Nov

KUALA LUMPUR: Malaysia’s producer price index (PPI) for November decreased 0.6% to 104.1, the Statistics Department said on Thursday. In a statement, the department said this was due to the decrease in local production index of 1% and an increase in import price index of 0.1%. “Year-on-year (y-o-y) comparison showed that the PPI for the domestic economy in November decreased ... Read More »

Vietnam 29% of domestic businesses lack integrity

HANOI: Just 29 per cent of enterprises practice integrity and transparency in their business, announced the latest survey of Viet Nam Chamber of Commerce and Industry (VCCI) on Tuesday. VCCI carried out the survey with the participation of 180 enterprises in major cities of Ha Noi, Da Nang and HCM City under the “Enhancing Integrity Implementation Initiative in Business – ... Read More »

Customs Inspector Javaid censured for unauthorised absence

ISLAMABAD: Javaid Iqbal Butt, Inspector (BS-16), Model Customs Collectorate (Preventive), Lahore, has been censured for unauthorised absence from duty. The disciplinary proceedings were initiated against the accused officer under Government Servants (Efficiency & Discipline) Rules, 1973. Rizwan Salabat, Additional Director, Directorate of Intelligence & Investigation, Lahore, was appointed as Inquiry Officer to conduct probe into the account of unauthorised absence ... Read More »

Kuwait police arrest man for selling ‘smuggled’ antiques

KUWAIT CITY: Personnel from the Criminal Investigation Department have arrested a 50-year-old Kuwaiti for selling ‘smuggled’ antiques, reports Al-Shahed daily. The daily quoting security sources police acting on a tip-off sent an agent to buy a piece of antique from the suspect for KD 35,000 and caught him in the act. During interrogation the man admitted to smuggling the antiques ... Read More »

Viet Ha Corporation plans to launch IPO in Jan

HANOI: Beverage Company Viet Ha Corporation plans to launch its initial public offering (IPO) at the Ha Noi Stock Exchange on January 26, 2016. More than 18.7 million shares will be sold in the IPO, at an initial price of VND10,000 (44 US cents) per share. Viet Ha Corporation, an enterprise with 100 per cent charter capital from the state budget, ... Read More »

Kuwait credit growth rises 6.6% YoY

KUWAIT: Credit saw a small decrease of KD 22 million in October on the heels of an exceptionally large increase the month before (KD 692 million). Despite the small decline, credit growth still rose to 6.6 percent year-on-year (y/y), the most rapid pace in over a year. A large decline in lending for securities weighed on the October figure. Meanwhile, ... Read More »

Qatar banks record surge by 14.1% in personal loans

DOHA: Loan growth has remained strong across the GCC markets as a whole, however, banks in Qatar have witnessed the highest increase of 14.1 percent year on year, according to research from Global Investment House. As a reflection, the compareit4me group, who operate finance comparison sites around the Middle East, have noticed a rise of 79 percent in the number ... Read More »

Dy Superintendent Gulzar Ahmad exonerated from allegations

ISLAMABAD: Gulzar Ahmad Sehar, a Deputy Superintendent (BS-16), posted at Regional Tax Office, Lahore, has been exonerated from allegations levelled against him. As per details, the disciplinary proceedings were initiated against the accused officer under Government Servants (Efficiency & Discipline) Rules, 1973 were. Sadia Munib, Additional Collector (BS-19), MCC (Preventive), Lahore, was appointed as inquiry officer to probe into the ... Read More »

Quality Group to invest QR55m in India

DOHA: Quality Group International, one of the leading Qatar-based Indian companies, has announced to invest QR55m in the Southern Indian state of Karnataka this financial year. The entire amount will be invested in retail and infrastructural development projects as part of the NRI (Non-resident Indian) investment programme initiated by the state government, according to a statement yesterday. Quality Retail Group ... Read More »

TIER manufacturing indicator points to further contraction

TAIPEI: The manufacturing sector continued to flash “blue” last month, indicating a contraction at a time when the local economy remains in the doldrums, the Taiwan Institute of Economic Research (TIER) said yesterday. It was the eighth consecutive month in which the TIER-compiled composite index for the local manufacturing sector was “blue,” although the index showed signs of recovery. Last ... Read More »

Customs Inspector allowed to avail voluntary retirement

ISLAMABAD: The competent authority has allowed voluntary retirement from the government service to Nazar Hussain, a BS-16 Customs officer, on completion of more than 32 years qualifying service for pension. Nazar, presently posted as an Inspector at Model Customs Collectorate, Faisalabad, has been allowed to avail voluntary retirement with effect from February 20m, 2016. Read More »

Foreign employees on the surge in Bangladesh

DHAKA: The number of foreign nationals employed in the country is on the rise in the absence of adequate manpower with the technical know-how among a labor force of nearly 4.4 million and expanding economic activities. The majority of the foreign nationals are employed in the garment sector in top posts like production managers, merchandisers, senior sewing operators, cutting masters, ... Read More »

Dy Asst Chemical Examiner Aziz granted performance allowance

ISLAMABAD: Aziz-Ur-Rehman, a Deputy Assistant Chemical Examiner, (BS-16) Model Customs Collectorate of Exports, Karachi, selected through the process of internal job posting (IJP), has been granted performance allowance with effect from December 21. The grant of performance allowance (equivalent to 100 per cent of basic pay) will be governed through the terms and conditions laid down vide Circualr No. 1(4)M(HRM)/2012) ... Read More »

Indonesia’s palm oil exports to fall 8.7% YOY

JAKARTA: The Indonesian Palm Oil Board (DMSI) expects Indonesian crude palm oil (CPO) exports to drop 8.7 percent (y/y) to 21 million tons next year from an estimated 23 million tons in 2015. This decline in export is attributed to an increase in domestic CPO consumption amid the full implementation of the country’s B15 biodiesel program. Domestic consumption of CPO ... Read More »

S. Africa posts first trade surplus in 5 months in Nov

SOUTH AFRICA: South Africa posted its first trade surplus in five months in November as exports of precious metals, such as gold and platinum, picked up and imports slumped. The trade surplus of 1.8 billion rand ($115 million) compared with a revised 21.6 billion rand deficit in October, the Pretoria-based South African Revenue Service said in an e-mailed statement on ... Read More »

Turkish scrap import prices drop to $189

ANKARA: Turkish HMS 1/2 80:20 scrap import average prices (CFR Iskenderun Port, Turkey) slipped to $189 a ton week-on-week during the week ended December 18, as per the latest figures from the Steel Index. According to TSI, daily benchmark index for deep-sea Turkish imports of HMS #1&2 80:20 fell $1 a ton from last Friday to end the week at ... Read More »

Punjab govt to give technical training to industrial workers

MULTAN: The Punjab government has set up Punjab Skills Development Fund (PSDF) with partnership of Multan Chamber of Commerce and Industry (MCCI) where workers of different sector will get technical training to meet the international standards. This has been told by Technical Assistant Manager Zohaib Haq during industrial development awareness seminar at MCCI on Wednesday. He said that two hundred ... Read More »

Kenya apex bank plans to inject 8 bln shillings into money market

NAIROBI: Kenya’s central bank said on Wednesday it planned to inject 7 billion shillings ($68.46 million) into the money markets using reverse repurchase agreements. The bank uses the reverse repos to provide liquidity whenever its analysis shows some banks might be struggling to get funding from their counterparts. Read More »

Zimasco shuts down Kwekwe refinery in Zimbabwe

HARARE: Zimasco, a unit of China’s Sinosteel Corporation has completely stopped operations at its ferrochrome refinery in Kwekwe after switching off furnace number five and six. These were the only running smelters as the company had already switched off other furnaces due to low cash flows resulting from subdued international ferrochrome prices. Despite shutting down the furnaces, Zimasco, the country’s largest ... Read More »

China foreign debt at $1.53t by Sept

BEIJING: China’s outstanding foreign debt settled at $1.53 trillion by the end of September, data from the country’s forex regulator showed on Wednesday. Most of the debt owed to foreign creditors resulted from short-term borrowing, as outstanding external debt with a term of one year or less accounted for 67 percent of the total, while long- and medium-term outstanding external ... Read More »