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Author Archives: CT Report

Pakistan to enjoy GSP Plus till 2023

ISLAMABAD: The concessions to Pakistan given by the European Union (EU) to Pakistan under GSP Plus scheme will continue till the year 2023. According to the official sources in the Ministry of Commerce here, under the GSP Plus framework, the EU and Pakistan have engaged into a very open and constructive programme to share information on sustainable development issues such ... Read More »

10th IMF review to begin on 26th

ISLAMABAD: The 10th review of International Monetary Fund (IMF) with Pakistan would start on January 26. This was informed in a meeting held here presided over by Finance Minister Ishaq Dar which reviewed preparations for the 10th IMF Review. Secretary Finance briefed the minister on the progress of various reform measures in the context of the Fund Programme. The status ... Read More »

Govt upgrades 5 industrial estates as special economic zones under CPEC

ISLAMABAD: The government has upgraded five industrial estates as special economic zones under China-Pakistan Economic Corridor project. These include Multan Industrial Estate phase-II, Rahim Yar Industrial Estate, Bhalwal Industrial Estate and Mianwali, Rawalpindi and Dera Ghazi Khan industrial estates, reported Radio Pakistan. Punjab Industrial Estates Development and Management Company Chairman S M Tanveer said in Lahore that the upgradation of ... Read More »

Punjab govt to install 100,000 biogas tubewells

FAISALABAD: The Punjab government has announced to install 100,000 biogas tubewells across the province to overcome the shortage of electricity and mitigate the financial burden of farmers. Official sources said here on Monday that at present more than 800,000 tube wells were being run on high-speed diesel due to which farmers have to facing severe problems during the shortage of ... Read More »

Hyundai forecasts 8.13m vehicle sales in 2106, lowest in 10 years

SEOUL: Motor and its affiliate Kia, have forecast their slowest sales growth in a decade for 2016, due to slumping demand in China and a strong Korean won. South Korea’s largest automakers estimated combined total sales of 8.13 million cars worldwide this year, compared to about 8.0 million in 2015, Chung Mong-Koo, who heads the Hyundai Motor Group, said in ... Read More »

Singapore’s economy grew by 2.1% in 2015

SINGAPORE: Singapore’s trade-dependent economy grew by an estimated 2.1 percent in 2015, its worst performance since the 2009 recession, as global demand for Asian exports slumped, official data showed Monday. The gross domestic product expansion figure, down from 2.9 percent in 2014, was based on advance estimates that GDP in the fourth quarter of last year rose 2.0 percent year-on-year. ... Read More »

Parliamentary committed monitoring progress of CPEC’s western route

ISLAMABAD: A Parliamentary committee, comprising of members from both the Houses, is monitoring the progress of construction work of China-Pakistan Economic Corridor (CPEC), including its western route that stretches over 850 kilometres of highways. An official of an official of Ministry of Communications told APP Monday that the western route includes upgradation of the Zhob-Mughal Kot section of the Dera ... Read More »

Shipping intelligence report of KPT

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier): OP-I Shalamar D.Crude Oil PNSC 03/01/16 OP-II Pacific Sky D.Petrol GAC 03/12/16 OP-III Falcon Victory D.Petrol Sharaf-Sh, 04/01/16 ALONG SIDE (East Wharves): 4 Steel Honesty D.Steel Golden 01/01/16 5 Kavala Seas L.Rice East Wind ... Read More »

Shipping movement report of Karachi Port

KARACHI: Following were the movement of ships at Karachi Port during the last 48 hours, ending at 0700 hours on Monday. SHIPS SAILED: Luzon Spirit Tanker Hyundai Freedom Cont Cosco Osaka Cont Al Abdli Cont Chang Hang Huai Hai G.C H H L Congo G.C CK Glory G.C Delice Tanker Serpentine G.C SHIPS BERTHED: X-Press Euphrates Cont C K Glory ... Read More »

Urea sales reached 48m tons in 11 months

LAHORE: The urea sales in the country have grown by 216 per cent monthly in November 2015 with annual growth clocking-in at 33 per cent after announcement of relief package for farmers. As per data released by NFDC, urea sales reached 4,758,000 tons during the last 11 months of 2015 against 4,972,000 tons (down 4 percent YoY) in the corresponding ... Read More »

Vietnam suffers $32bn trade deficit with China

HANOI: Vietnam suffered a massive US$32.3 billion trade deficit with China, where it imported from a needle to an elephant, in 2015. Last year imports from China reached nearly $50 billion, while Vietnam’s exports to its northern neighbor were only some $17.7 billion, according to data by the General Statistics Office. The $32.3 billion deficit in 2015 is 12.5 percent ... Read More »

Malaysia police arrest two drug smugglers

TERENGGANU: Two suspected drug traffickers were arrested by police near Kampung Temir in Hulu Terengganu after a high-speed chase from Kampung Renik in Besut, yesterday. The couple were found with a toy pistol, several types of drugs worth RM4,500, as well as RM2,275 cash believed to be proceeds from their drug dealings. Among the narcotics seized were 188 stimulant pills, ... Read More »

Oil prices jump over 2% on Saudi Arabia, Iran tensions

SINGAPORE: Oil prices jumped over 2 percent in the first trading hours of 2016 as relations between Middle Eastern rivals Saudi Arabia and Iran deteriorated following Riyadh’s execution of a prominent Shi’ite Muslim cleric. Saudi Arabia cut diplomatic ties with Iran on Sunday,responding to the storming of its embassy in Tehran in an escalating row between the two major oil ... Read More »

Lenovo’s server shipments drop over 20% in 2015

WASHINGTON: Despite the acquisition of IBM’s server business, Lenovo’s server shipments dropped over 20% on year in 2015 and the company is pushing aggressively to land datacenter orders from clients such as Baidu, Alibaba and Tencent, according to sources from the upstream supply chain, adding that the China-based vendor is looking to ship one million servers in 2016, up 40% ... Read More »

KLCI falls 20 points at midday on weak start to 2016

KUALA LUMPUR: The FBM KLCI slumped more than 1.2% at midday on Monday while key Asian markets posted even bigger declines during the first trading day of 2016. At midday, the KLCI was down 20.52 points to 1,671.99 with 27 out of 30 of the KLCI component stocks down. Total turnover was 856.11 million shares valued at RM586.03 mil. The ... Read More »

South Korea tablet shipments rise in 2015

SEOUL: Consumers in South Korea bought more tablets in 2015—but mobile users in the country still have relatively few such devices compared to their neighbors across Asia-Pacific. According to the International Data Corporation (IDC), tablet shipments in South Korea in 2015 were up substantially over the prior year, rising from just under 1.5 million in 2014 to 2 million. For ... Read More »

China shares tumble 7%, trading halted for rest of day

SHANGHAI: China’s benchmark CSI300 share index tumbled 7% on the first session of 2016 on Monday, prompting the stock exchange to halt trading for the rest of the day. The “circuit breaker” suspension mechanism first came into effect on Monday. Stocks slumped after weak factory activity surveys soured hopes that the world’s second-largest economy will enter the new year on ... Read More »

Korea’s trade volume falls below $1 trillion for first time in 5 years

SEOUL: Korea’s trade volume fell below US$1 trillion for the first time in five years last year due to the global economic slump compounded by low oil prices.  But imports declined faster than exports, resulting in a record trade surplus of US$90.4 billion. The Ministry of Trade, Industry and Energy on Friday said trade volume amounted to $964 billion in ... Read More »

Japanese spot aluminum premiums rise to $105-$115 MT

TOKYO: Platts assessed spot premiums for Japanese aluminum imports at $105-$115/mt plus London Metal Exchange cash CIF Japan Monday, up from $100-$110/mt last Thursday, as fresh buying interest emerged amid thin spot seaborne cargo availability. There were at least two Japanese buyers with interest for spot material in addition to quarterly contract supplies. However they have not specified volumes or ... Read More »

KP secures only one out of 24 energy projects of CPEC

ISLAMABAD: Khyber Pakhtunkhwa has been given only one hydro project out of 24 energy projects, which come under China Pakistan Economic Corridor (CPEC). Sources in KP government said that only Suki Kinari Hydro of CPEC project was given to KP govt by the federal government. According to an official document, as many as 24 energy projects will be constructed under ... Read More »