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Author Archives: CT Report

S.Korea’s KOSEP seeks 960,000 tons of coal

SEOUL: Korea South-East Power Co Ltd  is seeking 960,000 tonnes of steaming coal for shipment between February and May via two spot tenders, theutility said on its website. The tender will close at 11 a.m.(0200 GMT) on Dec. 21. Read More »

Yakima Chmaber holds meets, greet for new City Council

YAKIMA: Last week the City of Yakima ushered in a new era, a new City Council was sworn into office.  The new council members won’t officially take on their new roles till the first of the year, but many of them are doing what they can to get out and meet the community. On Monday the Yakima Chamber of Commerce ... Read More »

Iron ore shipments decrease sharply in Nov 2015

WASHINGTON: Iron ore shipments on the Great Lakes continue their seasonal decline, with shipments down sharply in November. At nearly 5 million tons, November shipments of iron ore were 17 percent below those in November 2014. And when compared to November’s five-year average, shipments were down 12 percent, according to the Lake Carriers’ Association. A total of 4.2 million tons ... Read More »

SBP to continue its tradition of promoting SMEs: Qasim Nawaz

SIALKOT: Managing Director State Bank of Pakistan (SBP) Qasim Nawaz has said that the SBP will continue its tradition to promote the SMEs for boosting the national economy, saying that the SMEs Sector has been playing a backbone role in national economy as this sector not only employees tens of millions of workforce but also acts as impetus for the ... Read More »

Iran urges Russia to remove trade hurdles

TEHRAN: Iranian President Hassan Rouhani has urged Russian President Vladimir Putin to intervene to facilitate exports of Iranian food to Russia, head of Iran’s Chamber of Commerce says. Russia’s leaders have cited Iran as a possible new source of supply after banning imports from Turkey but Mohsen Jalalpour said Iranian exporters face hurdles to access the Russian market. “After a ... Read More »

President of Azad Kashmir calls on Ishaq Dar at Finance division

ISLAMABAD: The President of Azad Jammu and Kashmir Sardar Muhammad Yaqoob Khan called on the Federal Minister of Finance Mohammad Ishaq Dar this afternoon at the Finance Division. The Ishaq Dar welcomed the esteemed guest and acknowledged the sacrifices of the people of Kashmir for the sake of the unity of the country. The AJK President discussed different development projects ... Read More »

Google India posts rise of 35% in revenue annually

NEW DELHI: Google India has posted a rise of 35% in revenue annually. Though the U.S. firm’s business has doubled over the past two years, revenue growth has slowed from last year when it came at 47%, says a report from the Economic Times. Many are of the opinion that social media and mobile applications have shifted some of their ... Read More »

Russia, China trade fall again

MOSCOW: According to Gruzdev, the trade turnover between Russia and China had fallen by about a third this year, which made it impossible to aim for a $100-billion mark in 2015. “As for the forecasts regarding the turnover dynamic in 2016, it’s hard to make any predictions – the negative impact of external factors is too strong. Still, there will ... Read More »

Russia, Qatar talk on bilateral trade relation

MOSCOW: A significant leap is expected in the Russian-Qatari trade relations in coming years, according to Russian ambassador to Qatar Nurmohamed Razlan Kholov. The ambassador said this while introducing a trade delegation from his country at a meeting held at the Qatar Chamber yesterday. Businessmen from diverse areas of interests are part of the delegation, whose mission in the country ... Read More »

Saudi Customs hold exhibition in school regarding drugs detection

RIYADH: Saudi Customs Department held an exhibition in schools in the Saudi capital on Sunday regarding how to detect drugs at the premises. “The exhibition aimed to make young people aware of all types of contraband, including counterfeit and adulterated goods,” a Customs spokesperson said. The students were briefed on the various means and methods used by traffickers in attempting ... Read More »

China, Saarc nations can play new role for economic development: Indian minister

BEIJING: External Affairs Minister Sushma Sawraj addressing the Fifth Ministerial Conference of the Heart of Asia Istanbul Process in Islamabad, Pakistan on Wednesday. China, Saarc nations can be new force of economic development. Participants at two Central and South Asia ministerial conferences held in Pakistan pledged their support to boost investment in energy, trade, infrastructure and communications in the region. ... Read More »

Steel prices fall sharply over past few months

NEW DELHI: With little respite in sight from burgeoning steel imports, the Centre is planning to fix the minimum import price for various steel products. The Steel and Commerce Ministries are working in close coordination, and the decision is expected to be announced in a few days, said sources close to the development. Steel prices have fallen sharply over the ... Read More »

STJ annual revenues surpass £10m for first time

WASHINGTON: Revenues at STJ Advisors, the corporate finance advisory boutique, passed the £10m mark for the first time in its latest financial year, after the European market for initial public offerings burst back to life. Revenues at STJ Advisors LLP increased from £9.8m to £10.5m in the 12 months to March 31, according to its latest accounts filed at Companies ... Read More »

UAE sets new rules on pesticides imports

DUBAI: Dr. Rashid Ahmed Bin Fahad, Minister of Environment and Water, has issued Ministerial Decree No. 799 for 2015 introducing amendments to Ministerial Decree No. 236 for 2014 governing the registration and import of pesticides. The new resolution prohibits the distribution of any pesticide without proper registration from the Ministry of Environment and Water. Furthermore, banned pesticides cannot be registered ... Read More »

Dell’s revenue declines by 6% YOY to $14 bln

WASHINGTON: Dell Inc. on Monday publicly disclosed quarterly financial results for the first time since late 2013, when the company reverted from public to private ownership. The disclosure, which appeared in a regulatory filing to the Securities and Exchange Commission by Dell Holding Inc., owner of Dell, underlines a major question in Dell’s blockbuster $67 billion bid to acquire EMC ... Read More »

Ethiopian flower industry invites foreign investments

ADDIS ABABA: The Ethiopian flower industry is flourishing, with the help of government incentives and low labor costs. The country is now the second-largest flower exporter in Africa, with over 100 flower growers on 1,700 hectares (17 000 000 square meters or 182,986,477 square feet). “We are now second in Africa only to Kenya, and we expect to overtake them ... Read More »

Antwerp Port signs twinning agreement with Guangzhou

BRUSSELS: The ports of Antwerp and Guangzhou are to collaborate even more closely under the terms of a twinning agreement signed on Thursday 10 December in the Chinese port city. Antwerp, the second-largest port in Europe, and Guangzhou, number 8 in the world, have long had a close relationship with each other. Already in 2010 Guangzhou signed an agreement with ... Read More »

Ukraine exports record volumes of soybeans in Nov 2015

KIEV: In November 2015, Ukraine exported the record volumes of soybeans and its by-products for the reporting month – 445.7 thsd tonnes of the oilseed, while in October 2015 the index reached 175.8 thsd tonnes, and in November 2014 – 386.7 thsd tonnes. Turkey became the key country-importer of the Ukrainian oilseed: 203.6 thsd tonnes, or 46% of the export ... Read More »

Salalah port builds new quay wall to expand cargo berth

MUSCAT: Construction work for building a new quay wall for the general and liquid cargo berth at the Salalah port will start on Monday. Assigned by His Majesty Sultan Qaboos bin Said, His Highness Sayyid Tariq bin Shabib Al Said will preside over the opening ceremony of the construction of the quay wall at the general and liquid cargo berth. ... Read More »

South Korea posts trade surplus for 46th straight month in Nov

SEJONG: South Korea posted a trade surplus for the 46th month in a row in November as imports dropped at a much faster pace than exports, customs data showed Tuesday. According to data from the Korea Customs Service (KCS), the country’s trade surplus reached a record high of US$10.32 billion last month, up nearly two-fold from the $5.26 billion reported ... Read More »