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Author Archives: CT Report

Cotton production falls by 34% to 15-year low

LAHORE: The country’s cotton production has decreased by 34 per cent to 9,200,000 bales at 15-year low mainly due to humidity, rains and intense temperature. This was revealed by Cotton Ginners Forum Chairman Ahsanul Haq in a statement. He said that the textile industry purchased at least 4.1 million bales due to the lower production, while the total number of ... Read More »

Qatar weathers emerging market storm

DOHA: Despite plunge in oil prices, Qatar has held up relatively well in the current rout in emerging market stocks. FTSE Global Market’s ‘emerging market’ analysis noted Qatar appears to be weathering the gathering storm in emerging market. Although with the exception of the FTSE upgrade, there remains a lack of immediate catalyst for Qatari stocks, even so Qatar maintains ... Read More »

Japanese manufacturing activity expands in Dec

TOKYO: Japanese manufacturing activity expanded in December at the same pace as the previous month as new orders grew at a faster rate in a sign the economy maintained momentum at the end of 2015, a revised survey showed on Monday. The Markit/Nikkei Final Japan Manufacturing Purchasing Managers’ Index (PMI) was a seasonally adjusted 52.6 in December versus a flash ... Read More »

Pak rupee strengthens vs dollar

KARACHI: The Pakistani rupee Monday strengthened against the US dollar both in open market and interbank. According to the local money market, the American dollar lost five paisas in open market to reach 106.15 and 10 paisas in interbank for selling at 104.70. On Friday, the dollar gained five paisas in the cash-free market for trading at 106.20 and remained ... Read More »

Shanghai 7% slip rattles global stocks

WASHINGTON: A plunge for the Shanghai stock market is leading a global equity retreat as worries about China’s economy and heightened Middle East tensions see investors start the new year off in a sour mood. US index futures suggest the S&P 500 will shed 32 points to 2,012 and the Euro Stoxx 600 is down 2.2 per cent. Severe risk aversion ... Read More »

Turkish organisation to give technical assistance to Tevta

LAHORE: A renowned Turkish organisation has announced to provide technical assistance to the Technical Education and Vocational Training Authority (Tevta). The KOSGEB (Small and Medium Enterprises Development Organization of Turkey) will give Tevta technical assistance for the promotion of skilled training across the province of the Punjab. This collaboration will be helpful to start new courses relating to entrepreneurship, management, ... Read More »

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 »