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Author Archives: CT Report

Worker remittances inflow likely to slow down in 2016: expert

COLOMBO: A top Sri Lankan policy maker expressed his doubts over the prospects of maintaining worker remittances from the Middle East (ME) this year amid growing financial instability and the political unrest in the region. The Saudi Arabian government last week announced a record budget deficit and cuts to fuel and utility subsidies amid falling crude oil prices. A quarter ... Read More »

Bad loans of Taiwanese banks to hit NT$365 million in Nov

TAIPEI: The latest statistics compiled by the Financial Supervisory Commission showed a slight uptick in non-performing loans (NPL) made by Taiwanese banks in China, with total bad debts amounting to NT$365 million (US$11.04 million) as of the end of November last year. The commission’s data, released on Thursday, showed that the Bank of Taiwan added bad debts of NT$36 million ... Read More »

Australia Post increases stamp prices for regular mail

CANBERRA: Sending a letter within Australia is now slower and more expensive. Australia Post has increased the cost of stamps for sending regular letters within the country from 70 cents to $1 – a rise of nearly 43%. The change to the “Basic Postage Rate”, effective on Monday, comes with the introduction of three delivery speeds for sending letters within ... Read More »

Taiwan exports fall 10% in 2015

TAIPEI: Exports were likely to have fallen last month for the 11th consecutive month and could post a 10 percent decline for last year as a whole, dragged by the global slowdown, Minister of Finance Chang Sheng-ford said yesterday. Exports for last month could register another double-digit fall, Chang said when asked to give a preview of export data for ... Read More »

Govt urged to announce relief package for dairy sector

LAHORE: The farmers have demanded relief package for the diary sector as the additional taxes have increased cost of doing business by seven percent. Society Watch President Khalid Mahmoud, in a statement, said that due to increase in taxes, price of processed milk has also increased by Rs 6 per litre and reducing its demand by 20 per cent and ... Read More »

Hearst revenue rises by 6% to $10.7bn in 2015

NEW YORK: Hearst, the privately held company that owns TV stations, magazines and newspapers, and has a 50 percent in A+E Networks and a minority stake in ESPN, will have earned record revenue and profit in 2015, according to a letter set to go to employees on Monday. Revenue grew 6 percent to $10.7 billion, according to the letter from ... Read More »

Australian officials to increase export of crocodile products in 2016

SYDNEY: Australian officials are looking to increase the export of crocodile products in 2016, after decades of official protection to stop them being hunted to extinction have increased their numbers. Under a new Saltwater Crocodile Wildlife Trade Management Plan (WTMP), which came into effect at the start of the year, the Northern Territory’s government wants to increase the trade in ... Read More »

Thailand’s deflation continues in Dec for 12th consecutive month

BANGKOK: Thailand’s disinflation continued in December for the 12th consecutive month as local fuel and food prices remained weak, the Commerce Ministry said Monday. The country’s headline inflation dropped 0.85% in December from the previous year, compared with a 0.97% year-over-year decline in November, according to the ministry’s latest report. On a sequential basis, Thailand’s headline consumer-price index edged 0.39% ... Read More »

Vietnam’s tra catfish exports to fall 5% in 2016

HANOI: Officials expect the value of Viet Nam’s tra catfish exports to continue to fall this year, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP). The decrease is due to anti-dumping tariffs, the US programme on monitoring catfish, and pressure from competition selling other types of white-meat fish, the association said. Officials anticipate that the value of ... Read More »

Vietnam needs production chain in agriculture sector

HANOI: Vietnamese exporters of agricultural products must join global production chains if they are to take advantages of the opportunities of the Trans Pacific Partnership (TPP) free trade pact. Opportunities are foreseen but there exist worries about the real dangers for Viet Nam’s agriculture from the TPP agreements. In an article about the TPP opportunities for Viet Nam on the government’s ... Read More »

Oil prices surge in Asia as Riyadh cuts ties with Tehran

SINGAPORE: The oil prices once again surged on Monday in Asia as the world’s largest oil producer, Saudi Arabia, cut ties with Iran after the Saudi embassy attack in reaction over a Shia cleric’s execution by Riyadh. Saudi Arabia cut ties with Iran a day after protesters ransacked its embassy in Tehran over the execution of the cleric, Sheikh Nimr ... Read More »

Action being taken against profiteers, adulterators: Bilal Yasin

LAHORE: Almost all the items of daily use are available at reasonable prices in Sunday Bazaars, claimed Provincial Minister for Food Bilal Yasin. He said this while talking to media during visit to Shadman Sunday Bazaar. The minister was also accompanied by Data Ganj Bakhsh Town TMO. Talking to the consumers, Bilal Yasin said that on the instructions of Chief ... Read More »

Rubina relinquishes charge as DG of Karachi Customs Internal Audit

ISLAMABAD: Rubina Wasti, a Pakistan Customs Service officer of BS-21, has relinquished the charge of the post of Director General, Directorate General of Internal Audit (Customs), Karachi. The officer, in pursuance of Establishment Division Notification F No 34/4/2015-E-I, dated 19.11.2015 relinquished the charge of the said post with effect from December 31, 2015. Read More »

VN shares expect to large improvements on both local markets in 2016

HANOI: The stock market will see large improvements on both local markets this year, despite many problems in both local and global economic conditions, said a Viet Nam Investment Securities Company analyst. Nguyen Huu Binh, the analyst, said the benchmark VN Index on the HCM Stock Exchange might reach 670 points by the end of this year. The southern index ... Read More »

China Customs seizes 5,640 infringing auto parts

SHANGHAI: A few days ago, Dalian Customs District seized 5,640 automotive parts suspected of infringing the trademark “CHERY”. The seized parts, worth USD 60,000, made up the largest infringement on Chinese intellectual property rights seized by Dalian Customs both in recent years and since Customs campaign “Breeze” for protecting overseas image of China-made products. On that day, a company from ... Read More »

Singapore’s private residential properties dip 3.7% in 2015

SINGAPORE: Singapore’s private residential property prices fell by 3.7 percent in 2015, following the 4.0 percent decline in 2014, said Urban Redevelopment Authority (URA) in a flash estimates on Monday. URA said private home prices fell 0.5 percent in the fourth quarter of 2015, compared with the 1.3 percent decline in the previous quarter, as the Private Residential Property Index ... Read More »

Consumption taxes to boost revenue collections in Kenya

NAIROBI: The Kenya Revenue Authority is banking on consumption taxes to boost revenue collections in the second half of the present financial year to June as income tax streams lag due to a “temporary” economic downturn. Commissioner-general John Njiraini is optimistic the performance of the consumption taxes – Excise duty and Value Added Tax – will be even robust in ... Read More »

Resale prices of Singapore’s public housing units down 1.5% in 2015

SINGAPORE: Resale prices of Singapore’s public housing units built by the Housing and Development Board (HDB) fell 1.5 percent in 2015, the HDB said in its flash estimates released on Monday. HDB resale prices in the fourth quarter of 2015 edged up for the first time since the third quarter of 2013, with the Resale Price Index, which provides information ... Read More »

China’s logistics sector slows in Jan-Nov

BEIJING: China’s logistics industry grew at a slower pace in the first 11 months of 2015 than a year ago, new data showed Sunday. In the January-November period, the total value of goods carried by the logistics sector rose 5.8 percent year on year to 202.4 trillion yuan (31.17 trillion U.S. dollars), the National Development and Reform Commission said in ... Read More »

Ha Noi to attract investment capital in 2016

HANOI: This year, Ha Noi will see breakthroughs in attracting investment capital, according to deputy director of the municipal Department of Planning and Investment Tran Ngoc Nam. In 2015, Ha Noi saw significant improvements in its investment and business environments. The city took initiatives to reduce the time needed for establishing new business, falling from five to three days, while ... Read More »