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Author Archives: CT Report

Ukraine receives batch of coal from S. Africa at price of $57 per tone

KIEV: Ukraine on December 5 received a batch of coal from South Africa at the price of $57 per tonne (at the port), Ukrainian Energy and Coal Industry Minister of Ukraine Volodymyr Demchyshyn said in Kyiv on Monday. “The first ship arrived on December 5 at night, the unloading was started, the quality is confirmed… the price is rather attractive ... Read More »

China’s iron ore demand to drop 4.2% in 2016

BEIJING: Iron ore demand is expected to fall further in China next year as the country continues to scale down steel output, according to forecast by an industry organization on Monday. Demand for iron ore will fall by 4.2 percent in 2016 from a year ago, said the forecast, made by the China Metallurgical Industry Planning and Research Institute. Steel ... Read More »

Sri Lanka exports 6%, imports 5% fall in Sept 2015

COLOMBO: Sri Lanka external trade continued to contract in September with exports falling 5.9 percent to 850 million US dollars and imports falling 5.1 percent to 1,583 million US dollars, compared to the same month last year, official data showed. The Central Bank said industrial exports fell 4.7 percent to 636 million US dollars led by subdued performance of rubber ... Read More »

CITIC secures contarct to build $262m cement plant in Cambodia

PHNOM PENH: China’s leading cement equipment manufacturer and service provider CITIC Heavy Industries Company on Saturday secured an engineering, procurement and construction (EPC) contract from a Cambodian conglomerate to build a $262 million cement plant in Cambodia. The EPC contract was inked between Yu Zhangfa, chief executive officer of CITIC Heavy Industries Company, and Leang Meng, chief executive of Chip ... Read More »

ECC approves export of 0.5m metric tonnes sugar by March 31

ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC), in its meeting chaired by Finance Minister Ishaq Dar, has allowed the export of 500,000 metric tons sugar by March 31, 2016. In the first phase, 200,000 MT sugar will be allowed to be exported up to 31 December, 2015. By the end of January, an accumulative 350,000MT will be allowed, ... Read More »

LNG to be imported to decrease CNG price in Punjab: Paracha

ISLAMABAD: With the aim to help reduce gas price in Punjab, the CNG association has announced to import LNG for filling stations. All Pakistan CNG Association (APCNGA) President Ghiyas Paracha, in a statement, said that LNG import will also ensure continued gas availability. Healso blamed that the flight of dollar and depreciation in the value of Pakistani rupees were responsible ... Read More »

China’s Luye Medical ready to acquier Australia’s Healthe Care for $688m

BEIJING: Luye Medical Group Co, the privately owned Chinese heathcare firm, has agreed to buy Healthe Care Australia Pty Ltd, one of that country’s largest private hospital operators, marking the Chinese firm’s first foray into the overseas hospital sector. Healthe Care is being bought from private-equity owner Archer Capital for a reported A$938 million ($688 million), according to local media, ... Read More »

SECP amends regulations to boost fund-management industry

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has introduced amendments in the Non-Banking Finance Companies and Notified Entities Regulations, 2008 to meet the changing industry dynamics, implementing international best practices and safeguarding investors’ interest to strengthen mutual funds. The amendments are primarily aimed at encouraging sustainable growth of the mutual funds by improving access by retail investors, strengthening ... Read More »

India’s steel imports fall 6.9% in Nov 2015

MUMBAI: India’s steel imports fell in November for the first time in eight months, thanks to a government move in August to impose a 20% safeguard duty on some steel products to protect local producers from cheap overseas supplies. Inbound shipment last month fell 6.9% to 0.76 million tonne from 0.82 million tonne a year earlier, according to data released ... Read More »

China Africa Development Fund hits $5 billion in 2015

BEIJING: The China Development Bank has hit its target of pooling $5 billion this year in its equity investment fund for investment in Africa, it said on Friday. It has already allocated or earmarked nearly $3.2 billion in the China Africa Development Fund (CAD Fund) for more than 80 projects from infrastructure to agriculture to energy resources in 35 African ... Read More »

Japan’s current account surplus to touch $11.84bn in Oct

TOKYO: Japan’s current account in October stayed in positive territory for the 16th consecutive month in October, standing at a surplus of 1.46 trillion yen (about 11.84 billion U.S. dollars), the government said Tuesday. The Finance Ministry here said in a preliminary report that, among key components in the current account, goods traded registered a surplus of 200.2 billion yen ... Read More »

Iran imports $213m worth of goods from US in 2015

TEHRAN: Iran imported $213 million worth of goods from the U.S. in the first ten months of 2015, a 40 percent rise compared to the same period of time in the previous year, according to the latest report released by the U.S. Commerce Department. The report says that the U.S. exported over $151.9 million worth of products to Iran during ... Read More »

NASA delays Cygnus cargo spacecraft launch because of bad weather

MEXICO: NASA officials have decided to delay the launch of the Orbital ATK-made Cygnus spacecraft because of bad weather. The American space agency will attempt to have the space cargo ship blast off into space on Sunday, Dec. 6, instead of the original schedule date of Dec. 4. NASA announced on Thursday that the scheduled resupply mission involving the Cygnus ... Read More »

NASA releases best close-up images of Pluto

FARANCE: NASA’s New Horizons spacecraft has sent back a number of close-up images of Pluto, images that could be the most detailed we see of the dwarf planet for decades. The images depict craters, mountains, and glacial terrain, and were taken by the spacecraft in July of this year. “These close-up images, showing the diversity of terrain on Pluto, demonstrate ... Read More »

MMTC suffers loss of Rs 8.03 crore on import of onions

NEW DELHI: The state-owned MMTC has suffered a loss of Rs 8.03 crore on import of onions, which will be borne out of the price stabilisation fund, Parliament was informed today. MMTC disposed of onions through local auction as there was no forthcoming demand from states or any local agency for the imported onions despite the fact that it was ... Read More »

S.Africa Customs seizes 39 gold bars worth R20m

DURBAN: Customs officials seized gold worth nearly R20m at the OR Tambo International Airport, thwarting an attempt to run it out of the country on Friday. South African Revenue Services (Sars) spokesperson Sandile Memela said in a statement that 39 gold bars were found hidden in the hand luggage of two passengers in the airport’s departure terminal. “Acting on intelligence, ... Read More »

Dinosaur relatives and 1st dinosaurs more closely connected than thought, study

CANADA: A new study by a team of scientists from Argentina, Brazil, California and the Natural History Museum of Utah at the University of Utah has determined that the time elapsed between the emergence of early dinosaur relatives and the origin of the first dinosaurs is much shorter than previously believed. The discovery not only places a new timeline on ... Read More »

Bangladesh Customs seizes 160 gold bars worth Tk 90 million

DHAKA: Customs officials have seized 160 gold bars from a flight coming from Kuala Lumpur that landed at Shahjalal International Airport in Dhaka. The bars were found beneath a seat on the Malaysia Airlines aircraft at around 9pm on Monday, APBN Assistant Superintendent Tanzina Akter told bdnews24.com. She said the gold bars weighed 18.8 kilograms. The estimated market value of ... Read More »

China cotton imports gain 6.9% in this year

BEIJING: China, the world’s largest cotton user, will import less fiber this year and that will be bearish for global prices, according to the International Cotton Advisory Committee. Overseas purchases will tumble 33 percent to 1.2 million tons in the year started August from 1.8 million tons a year earlier, the committee estimates. The Asian nation will instead increase imports ... Read More »

US space agency releases best close-ups of dwarf planet

WASHINGTON: The US space agency has released a series of sharp Pluto snapshots, billing them as the best close-ups of the dwarf planet we may see for decades. On July 14, NASA’s New Horizons became the first spacecraft to pass by Pluto, offering scientists unprecedented insight. Previously released high-resolution images from that historic flyby have revealed unparalleled geographical variety on the ... Read More »