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Author Archives: CT Report

Garments manufacturers call for textile package

KARACHI: The representative of garments manufacturers has called for early announcement of textile package as the delay is further deteriorating the largest industrial sector of the country. Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) acting Chairman Arshad Aziz said this in a statement. He said that he current scenario is extremely worrying the precious foreign-exchange earning industries and the ... Read More »

Australian dollar bounces back above US73 on jobs data

PERTH: The Australian dollar has spiked back above US73 cents on a stunningly strong jobs report. At noon (AEDT), the currency was trading at US73.27 cents, up from 72.15 cents yesterday. The Aussie had jumped to US73.33 cents by 11.41am (AEDT) on the news that Australia’s unemployment rate fell to 5.8 per cent in November. The total number of people ... Read More »

Singapore’s CNB nails down drug racket

SINGAPORE: Drugs worth more than S$103,000 were seized yesterday in a Central Narcotics Bureau (CNB) operation. A suspected drug syndicate leader and three other suspected drug offenders were also arrested. The alleged drug syndicate leader, a 55-year-old Singaporean man, was arrested when CNB officers raided a unit along Hamilton Road yesterday evening. They recovered a total of more than 900g ... Read More »

Food prices inflation rise by 4% in 2016

OTTAWA: Food prices are set to outpace overall inflation and rise by as much as 4 per cent in 2016 as the low Canadian dollar drives up the price of imported fruits and vegetables, according to the Food Institute at the University of Guelph’s forecast. The jump of about $345 in the average household’s annual food bill to $8,600 follows ... Read More »

India will set up observatories to monitor climate change impact

MUMBAI: India announced Monday that it will open eight long-term observatories across the islands, deserts, and the Himalayas to monitor the effects of climate change. Environment minister Prakash Javadekar revealed the plan at COP21 – the United Nations climate change conference currently held in Paris, France – saying the ecological observatories will help the country better understand climate change impact ... Read More »

Govt urged to pay attention to citrus industry

SARGODHA: Pests and diseases are main causes of low production of citrus, which need government attention to boost this profitable business. Kinno Growers Association President Hamid Saleem Waaraich said this in a statement. He said that citrus production is more than 30 fruits grown throughout the country with Punjab dominating in production as about 59 per cent of the total ... Read More »

UK court sentences man 20 month jail for smuggling heroin

LONDON: A 37 year old man who was caught with heroin worth around £7,000 at Lerwick’s NorthLink ferry terminal has been sent to prison for 20 months. Gregor Manson, whose address was given as Carradale Guest House on Lerwick’s King Harald Street, previously admitted being concerned in the supply of the Class A drug at the Holmsgarth terminal and elsewhere ... Read More »

Indian rupee up 4 paisa against US dollar in early trade

MUMBAI: The Indian rupee rose marginally by 4 paise to 66.79 against the US dollar in early trade today at the Interbank Foreign Exchange on fresh selling of the American currency by exporters and banks. Forex dealers said apart from selling of the US currency by exporters and banks, a higher opening in domestic stock markets, supported the rupee. They ... Read More »

Google’s quantum computer 100m times faster than a regular computer chip

WASHINGTON: Tapping into the ostensibly “magical fount” of quantum mechanics could possibly result to an outpouring of new and ground-breaking advancements in material science. A team of Google and NASA engineers is at the heart of an incredibly significant finding that may someday lead to precisely that. Deep within the space agency’s Advanced Supercomputing center in Silicon Valley is a ... Read More »

Egypt authorities arrest man with archaeological currencies

CAIRO: Cairo Airport thwarted the smuggling attempt of 177 Egyptian, Libyan, Saudi and Iraqi archaeological currencies by an Egyptian passenger here the other day. The passenger was heading to Ta’if, Saudi Arabia. A security source said during a press statement that airport security had suspicions about the passenger’s luggage. Upon searching the bags, security authorities found 177 archaeological currencies from ... Read More »

HONG KONG: Scientists previously thought that dinosaurs evolved from their smaller ancestors over a period of at least 10 million years but findings of a new study suggest that the evolution occurred in less than five million years. For the new study published in the Proceedings of the National Academy of Sciences on Dec. 7, Randall Irmis, from the Natural ... Read More »

Indonesia to import up to 1 million metric tons of Pak rice

JAKARTA: Pakistan and Indonesia have signed memorandum of understanding (MoU) on rice import. The MoU was signed by Indonesian Trade Minister Thomas Trikasih Lembong and Ambassador of Pakistan to Indonesia Mohammad Aqil Nadeem, said a Pakistan Embassy’s message received here Wednesday. Indonesian government will import up to 1 million metric tons of white rice from Pakistan from 2016 to 2019, ... Read More »

Turkey imports 33.06 bcm of gas from various sources in 2015

ANKARA: Turkish state pipeline company BOTAS imported 33.06 billion cubic meters of gas from various sources in Jan.-Oct. 2015, compared to 31.73 billion cubic meters in the same period of 2014, said the company’s website. Turkey also imports gas from Azerbaijan, which is supplied via the South Caucasus gas pipeline (Baku-Tbilisi-Erzurum). The country has a contract on purchasing 6.6 billion ... Read More »

Japan to expand import quota for South Korean nori

TOKYO: Japan will more than double its quota for imports of South Korean nori to 2.7 billion sheets, the Fisheries Agency said Wednesday. The increase will take place in stages by fiscal 2025. It is the result of an agreement reached with the South Korean government aimed at ending a dispute over the trade. The change will affect Japan’s domestic ... Read More »

Vietnam cotton imports increase in 2015-16

HANOI: The heady growth in Vietnam’s textiles industry, expected to export $28bn this year, is to take its cotton imports close to those of top-ranked China – whose crop subsidy reforms are not playing out as forecast. The US Department of Agriculture’s Hanoi bureau hiked to a record 5.37m bales (1.17m tonnes) its forecast for Vietnam’s cotton imports in 2015-16. ... Read More »

Australia citrus export rises by 29% to 187,994 tonnes in first 10 months

CANBERRA: Australia’s citrus export industry continues to enjoy a remarkable turnaround in fortunes, with shipments for 2015 expanding by almost a third on last year’s record result. Export volumes climbed by 29 per cent to some 187,994 tonnes in the 10 months to the end of October, a period which covers around 94 per cent of the 2015 export season. ... Read More »

Singapore stocks marginally weaker at open, STI retreats 0.31pc

SINGAPORE: Singapore stocks opened marginally lower on Thursday following a retreat overnight in US equities, with the Straits Times Index slipping by 0.31 per cent or 8.73 points to 2,852.46 as at 9.04am. China Environment, which was Wednesday’s most actively traded stock, remained atop the actives table, gaining 3.5 per cent or 0.3 Singapore cent to 8.9 Singapore cent as ... Read More »

South Korean stocks flat at open, KOSPI skids 0.04pc

SEOUL: South Korean stocks opened nearly flat Thursday in an atmosphere of caution heading into the upcoming U.S. rate-setting meeting. The benchmark Korea Composite Stock Price Index (KOSPI) lost 0.77 point, or 0.04 percent, to 1,947.47 in the first 15 minutes of trading. Bank shares traded in negative territory, with Hana Financial Group falling 0.42 percent and KB Financial Group ... Read More »

Philippines exports fall by 10.8% YoY to $4.59bn in Oct

MANILA: Exports in October dropped by 10.8 percent year-on-year to $4.59 billion, down from the $5.15 billion posted in the same month last year. Electronics and semiconductors, the top category in shipments accounting for 52 percent of total exports for the month, rose 7.3 percent from a year earlier, the statistics agency said. Other key export sectors in October were ... Read More »

Growers advised to complete sunflower cultivation by Jan

FAISALABAD: The growers in Punjab have been advised to complete sunflower cultivation by mid January to get bumper crops. A spokesman of Agriculture Department has said that according to the agri experts, the  growers should cultivate approved sunflower varieties including Hi-sun-33, Hi-sun-30, NK-278, FH-331, DK-4040, G-101 and 64-A-93. The farmers of district Faisalabad, Jhang, Toba Tek Singh, Chiniot, Multan, Bahawal ... Read More »