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China’s Dec diesel exports up 264% on year: Customs

BEIJING: China’s December diesel exports rose 264 percent from a year earlier to 980,000 tonnes, the country’s General Administration of Customs said on Thursday, the second-highest month in 2015. Full-year diesel exports rose 74.6 percent in 2015 to 7.16 million tonnes. Read More »

Indian mango exports in Maharashtra may see 15% jump this year

NEW DELHI: After a disappointing 2015 due to vagaries of nature, mango growers in the state are hoping for a 15 per cent increase in exports this year. Although the European Union lifted ban on Indian mangoes last year, unseasonal rains destroyed more than 40 per cent of the crop right at the flowering stage. While the mango season starts ... Read More »

Inflation in Russia to climb 10.5% in 2016

MOSCOW: Inflation in Russia will climb to 10.5% in 2016 but is expected down to 7.1% in 2017. Along with this, a return to GDP growth is expected by 0.7% in 2016 and by 1.8% in 2017, the UN Development Policy and Analysis Division (DPAD) said in the report titled World Economic Situation and Prospects 2016: Global Economic Outlook (WESP) ... Read More »

Cambodia exports through coastal port rise in 2015

PHNOM PENH: Cambodia exports through its coastal port rose in 2015, along with the number of cargo and cruise ships docking along the coast. More than 3.8 million tons of cargo moved through the Preah Sihanoukville Autonomous Port in 2015, its director, Lou Kimchhun says. That’s an increase of nearly 10 percent from the year before. The number of ships coming ... Read More »

New construction of US homes slow modestly in Dec

WASHINGTON: New construction of US homes slowed modestly in December from the previous month, but capped a year of solid growth overall for the building sector, official data showed Wednesday. The Commerce Department reported housing starts slipped by 30,000 units to an annual rate of 1.149 million units in December, with the fall roughly similar in both single-family and multi-family ... Read More »

Non-oil exports in Nigeria fall by N1.2trn

ABUJA: Nigeria’s non-oil exports has dropped by N1.2 trillion, and the Central Bank of Nigeria (CBN)’s governor, Godwin Emefiele, who disclosed this yesterday at a conference in Abuja on “Growing Nigeria’s Non-oil Exports,” blamed the decline on the low level of export loans from the banking sector. According to him, available statistics showed that whereas credit to non-oil exports had ... Read More »

Eight Customs officers of BS 16-17 to retire this year

ISLAMABAD: Eight Pakistan Customs Service officers of BS 16-17 are going to retire from the government service in the ongoing calendar year 2016 on attaining the age of superannuation. Afaq Hameed, Principal Appraiser (BS-17), Directorate General of Customs Valuation, Karachi, will stand retired with effect from March 31. Muhammad Naeem Ullah, Superintendent (BS-17), Model Customs Collectorate of Preventive, Lahore, will ... Read More »

Iranian oil minister to travel to Oman

TEHRAN: Iranian Oil Minister Bijan Zanganeh is going to travel to Oman on January 21. This will make Zanganeh’s first foreign trip after the removal of sanctions against Iran, SHANA news agency reported January 20. Meeting the kingdom’s oil officials, Zanganeh will follow up on existing contracts and talk over future cooperation prospects. Iran is looking forward to greater economic ... Read More »

Infrastructure investment to sustain economic growth, says Lafarge

KUALA LUMPUR: Continuous investments in key sectors including for infrastructure development and housing, will help sustain Malaysia’s economic growth, says major cement producer Lafarge Malaysia Bhd. “We need to look at this from a global perspective. Even though there is an economic slowdown, Malaysia is, relative to other economies, dynamic and still growing,” president and chief executive officer Thierry Legrand ... Read More »

Indonesia`s exports to Switzerland surge to US$1 billion

DAVOS: Indonesias exports to Switzerland shot up to US$1 billion in 2015 from only US$133 million in 2014, an official said. Director General of National Export Expansion Nus Nuzulia Ishak said gold and silver ornaments contributed the largest or US$765 million to the total export value in 2015. “Demand for Indonesian ornaments in Switzerland grew,” Nus, who is attending a ... Read More »

First US oil export in 40 years arrives France

PARIS: After 40 years of restriction, the first US oil export has finally arrived France, having spent three weeks on the sea amidst fierce price wars. The ‘Liquid American Freedom’, as named by the US congress energy and commerce committee members, arrived outside the French port of Fos Lavera at around 6am on Wednesday. According to Financial Times, Vitol, the ... Read More »

Turkish steel scrap imports drop sharply in Nov

ANKARA: The most recent statistics released by the Turkish Statistical Institute (TUIK) suggests huge drop in steel scrap imports by the country during the month of November last year. According to TUIK data, Turkey imported 1.30 million tons of steel scrap during Nov ’15. The imports were down sharply by 15% when matched with the imports during the same month ... Read More »

Dy Commissioner-IR’s performance allowance restored

ISLAMABAD: Performance allowance in respect of Ghulam Hussain, a BS-18 officer of Inland Revenue Service, has been restored. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the officer, presently posted as Deputy Commissioner-IR, RTO, Bahawalpur, has been restored with effect from January 19, 2016. Read More »

India’s polished diamond exports slump 17% YOY in Dec

NEW DELHI: India’s polished diamond exports slumped 17 percent year on year to $1.2 billion in December, according to provisional data from the Gem & Jewellery Export Promotion Council. By volume, polished exports dropped 5 percent to 1.9 million carats. Polished imports plummeted 46 percent to $239 million, leaving net exports 4.6 percent lower at $964.3 million. Rough diamond imports ... Read More »

Pacific trade pact signing to take place in Auckland on Feb

SYDNEY: New Zealand said Thursday it will host a signing ceremony for the Trans-Pacific Partnership pact in Auckland on Feb. 4 ahead of the implementation of one of the world’s largest free trade zones. “New Zealand has issued invitations to TPP ministers to sign the agreement in Auckland,” trade minister Todd McClay said in a statement. “Signature will mark the ... Read More »

Australian wine exports climb 14% in 2015

CANBERRRA: Overall, the value of Australian wine exports climbed 14% to AUS$2.1 billion in 2015, reaching its highest value since October 2007. Wine Australia CEO, Andreas Clark said: “Pleasingly, our latest Export Report shows that the value of Australian wine exports grew in each of the top 15 export markets in the year ended 31 December 2015. “This export growth should ... Read More »

Singapore’s Kuo Oil seeks ships for Iranian fuel oil

SINGAPORE: Kuo Oil, a Singapore-based oil trading company, is seeking ships to load Iranian fuel oil, according to a shipping broker report, now that it is finally clear of U.S. trade sanctions imposed in 2012 for trading with the country. The United States lifted the sanctions on Saturday against Kuo, also known as Kuo International Bunkering, as part of its ... Read More »

Hungary’s National Tax and Customs Authority win 78% lawsuits

BUDAPEST: Hungary’s National Tax and Customs Authority (NAV) won more than 78 percent of the around 2,500 lawsuits taxpayers brought against it last year, daily Magyar Idok said on Thursday. The percentage was up from 70 percent in the previous years, the paper said. The combined value of lawsuits filed in 2015 came to about 56 billion forints (EUR 177m). ... Read More »

Irish food, drink exports surpass €10.8bn, Bord Bia says

DUBLIN: The value of Ireland’s food and drink exports rose 3% last year to move beyond €10.8bn, according to the country’s food board. Bord Bia said that the Irish food and drink sector had “recorded its sixth consecutive year of export growth”. The largest sectors were dairy, beef, prepared foods and beverages, which, between them, contributed more than €8.7m to ... Read More »

China cuts imports of US plastics scrap by 20%

BEIJING: The overall decline to 1.908 million tonnes owes much to the 20% slump in deliveries to leading buyer China – from 1.013 million tonnes in January-November 2014 to 814 012 tonnes in last year’s corresponding period, confirm latest figures from the US Census Bureau and International Trade Commission. Deliveries of US plastics scrap to Canada climbed year on year ... Read More »