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Kazakhstan Linseed flax exports reach 25.7 KMT in Oct

ASTANA: Linseed flax exports from Kazakhstan reached 25.7 KMT in October, that  is the highest exports volume for the month. Taking into account 12.2 KMT having been exported in September, total exports for the first two months of the season has reached 37.9 KMT – 83% more than in September and October of 2014/15 MY. The main exports directions are ... Read More »

Japan stocks decline at end of trade

TOKYO: Japan’s stocks fell as a rout in oil and commodity prices dragged energy and material shares lower, outweighing a report showing the nation’s economy avoided a recession. The Topix index dropped 1 percent at the close in Tokyo, with miners and oil and coal producers leading declines. The Nikkei 225 Stock Average also lost 1 percent. Energy explorer Inpex ... Read More »

China’s exports slump again in Nov

BEIJING: China’s exports slumped more than expected in November but the decline in imports slowed, a tentative sign that domestic demand is on the mend, figures showed Tuesday. November exports fell 6.8 percent from a year ago, dropping for a fifth month, while imports fell 8.7 percent over the same period, China’s General Administration of Customs said on Tuesday. The ... Read More »

Australian stocks close lower, S&P 200 down 47.1pts

SYDNEY: Major resources stocks haven fallen under intense pressure as commodity prices plunge to new lows, causing the sharemarket to close substantially weaker. Oil prices slumped about 5 per cent overnight to reach new seven-year lows after an OPEC summit on Friday, where member countries did not agree to lower production amid a supply glut. Meanwhile, the iron ore price ... Read More »

Taiwan’s exports decrease in Nov 2015

TAIPEI: Taiwan’s exports in November posted their steepest year-on-year drop in more than six years as demand failed to recover due to a weak global economy, figures showed Monday. Shipments last month fell 16.9 percent from November 2014, the most since August 2009 when exports plunged 24.6 percent, according to the Ministry of Finance. It was the tenth consecutive month ... Read More »

Taiwan stocks close below 8,400pts

TAIPEI: Shares in Taiwan closed below the 8,400-point mark Tuesday as investors were motivated by a fall on Wall Street overnight and the weakness of other regional markets to dump their holdings throughout the session, dealers said. Selling focused on large-cap stocks in both the electronics and financial sector, while petrochemical stocks came under heavy pressure amid an overnight plunge ... Read More »

China stocks end: Shanghai Composite drops 1.9pc

BEIJING: Chinese stocks fell the most in a week after trade data signalled a deepening slowdown in the nation’s economy and sinking crude prices dragged on oil companies. The yuan, meanwhile, headed for its lowest close in four years. The Shanghai Composite Index dropped 1.9pc to 3,470.07 at the close. Energy and material producers were the worst-performing industry groups after ... Read More »

Nasir Ghouri made Commissioner-IR (BTB) in Lahore

ISLAMABAD: Muhammad Nasir Khan Ghouri, a BS-20 officer of Inland Revenue Service, presently posted as Chief (BTB), Federal Board of Revenue (HQ), Islamabad, has been transferred and posted as Commissioner-IR (BTB), Regional Tax Office, Lahore, with immediate effect. According to the Board’s notification, if the officer is drawing performance allowance (equivalent to 100 per cent of basic pay), he will ... Read More »

Tiwana takes charge as SA to FBR chairman

ISLAMABAD: Malik Amjad Zubair Tiwana, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of SA to the Federal Board of Revenue Chairman. Tiwana assumed the charge Federal Board of Revenue (HQ), Islamabad in pursuance of Board’s Notification No.2862-IR-I/2015 dated 07.12.2015. Read More »

Muzaffar Soomro assumes charge as Commissioner-IR (OPS)

ISLAMABAD: Muzaffar Ali Soomro, a BS-19 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR (OPS) Inland Revenue (Appeals-II), Karachi. The officer, iIn pursuance of Board’s Notification No.2795-IR-I/2015, dated 30.11.2015, relinquished the charge of the post of Commissioner-IR (OPS) (Zone-II), Regional Tax Office, Hyderabad, with effect from November 30. Read More »

Why monstrous early galaxies do not exist in modern universe?

HONG KONG: Astronomers have discovered a nest of massive baby galaxies 11.5 billion light-years away, which are seemingly placed at the junction of filaments of dark matter. The galaxies were discovered using the Atacama Large Millimeter/submillimeter Array, or ALMA, and are very helpful for better understanding how massive galaxies such as these are formed and how they evolve into elliptical ... Read More »

Finance Ministry to cut import duty on pipeline

WASHINGTON: The Finance Ministry is poised to cut import duty on up to 1,000 items in a bid to strengthen the country’s competitiveness, says the Fiscal Policy Office (FPO). The targeted items are intermediate and finished goods, director-general Krisada Chinavicharana said. He said the FPO had determined cutting import duty on 700 of the 1,000 items would not pose a threat ... Read More »

Astronomers discovered faintest galaxy ever detected

EUROPE: Astronomers have discovered the faintest galaxy ever detected, dating back to the early universe. The ancient structure, which has been nicknamed Tayna, is estimated to have existed around 400 million years after the tumultuous birth of our universe, which exploded into life 13.8 billion years ago. The observations that led to the discovery were carried out by the Hubble ... Read More »

Banks directed to establish special counters for pensioners

KARACHI: The Central Bank has directed all the banks to facilitate the pensioners, by establishing special counters for them in branches. According to a press release issued by the State Bank of Pakistan, the decision was taken in a meeting held in recent past and headed by Finance Minister Ishaq Dar. It was ascertained during the meeting that banks should ... Read More »

NASA releases best close-up images of Pluto’s stunning surface

WASHINGTON: New images taken by NASA’s New Horizons spacecraft offer the clearest, closest view yet of Pluto’s stunning surface. The photos were taken as the spacecraft made its closest approach to the dwarf planet in July, and were stored on New Horizons’ digital recorders before being transmitted to the space agency here on Earth. NASA released the photos on Friday, ... Read More »

Smeda organises workshop for textile-related SMEs of Swat

PESHAWAR: The Khyber Pakhtunkhwa of Small & Medium Enterprises Development Authority (Smeda) has organised a four-day training workshop for textile cluster of Swat with the objective of apacity building and improvement of technical skills of local textile-related SMEs. During workshop, Smeda’s textile engineer Muhammad Israr Wazir and Nishat Group’s textile engineer Zia-ur- Rehman Yousafzai delivered lectures on technology upgradation and ... Read More »

Hong Kong stocks close at 1 month low, Hang Seng tumbles 1.3pc

HONG KONG: Hong Kong stocks closed at a two-month low on Tuesday, tracking sluggish global markets, as slumping oil prices dented already fragile investor confidence ahead of a likely US rate hike. The market was also weighed down by weak China November trade data, which added to worries over the health of its economy. The Hang Seng Index fell 1.3 ... Read More »

South Korean stocks slip 0.75% at end of trade

  SEOUL: South Korean shares dipped 0.75 percent Tuesday as a free-fall in oil prices dampened investors’ appetite for risky assets. The local currency declined to a two month low against the U.S. dollar. The benchmark Korea Composite Stock Price Index (KOSPI) fell 14.63 points to 1,949.04. Trade volume was slim at 399.5 million shares worth 3.57 trillion won (US$3.03 ... Read More »

Germany’s oil import bill declines 34.4% in Jan-Oct 2015

FRANKFURT: Lower prices helped cut Germany’s oil import bill by 34.4 percent to 28.0 billion euros ($30.30 billion) in the first 10 months of 2015 even though import volumes increased, data from the BAFA foreign trade office showed. Russia supplied 35.2 percent of the total, while 25.4 percent came from the British and Norwegian North Sea, and 18.3 percent from ... Read More »

Shareholders sue Toshiba for seeking $2.45m

TOKYO: Fifty individual shareholders of Toshiba Corp sued the Japanese conglomerate in Tokyo yesterday, seeking 301.99 million yen (US$2.45 million) in damages after the firm’s stock plunged amid a multi-billion dollar accounting scandal. The lawsuit against the company, as well as three former chief executives and two chief financial officers, comes as Toshiba shares hover about 40 percent lower than ... Read More »