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Author Archives: CT Report

Bank lending in Japan rises 2.3% in Nov

TOKYO: The average balance of bank lending in the country in November, excluding loans by shinkin (credit banks), rose 2.3 percent to ¥428.2 trillion, up for the 50th straight month, the Bank of Japan said Tuesday. Including shinkin, the total lending balance grew 2.3 percent to ¥492.6 trillion, also up for the 50th consecutive month. Banks continued to boost loans ... Read More »

Japan Current account surplus grow 72.3% in Oct

TOKYO: The current account surplus grew 72.3 percent from a year earlier in October, the 16th consecutive month of surplus, boosted by plunging oil imports and an increase in the travel surplus, the government said Tuesday. The surplus in the current account balance — one of the widest gauges of a country’s international trade — stood at ¥1.46 trillion and ... Read More »

Vietnam airport needs development

HCM CITY: HCM City’s Tan Son Nhat Airport received its 25 millionth passenger of the year on Saturday, five years earlier than expected. The airport, designed to serve 16 million domestic and 8-10 million international travellers a year, has already received 10.2 million international passengers this year. It is expected to serve around 26.4 million people this year, including 16 million ... Read More »

Vietnam consumer firms plan to produce goods for Tet

HCM CITY: HCM City-based consumer companies have completed plans to produce enough goods for Tet (Lunar New Year), which falls on February 8 next year, according to the city Department of Industry and Trade. Speaking at a meeting held to discuss the issue, Le Ngoc Dao, the department’s deputy chairwoman, said companies planned to increase supply from last year and ... Read More »

Vietnam’s exports to Mexico expected to hit $1.5b in 2015

MEXICO: The turnover from Viet Nam’s exports to Mexico this year is expected to hit US$1.5 billion in 2015, a year-on-year rise of 45 per cent, according to the Vietnamese Embassy’s trade office in Mexico. Viet Nam’s imports from that market will be worth an estimated $487 million, bringing bilateral trade to touch $1.98 billion, 52.3 per cent higher than ... Read More »

Police arrest Customs officer on duty

ABUJA: Imo Police Command has apprehended the alleged killers of a customs officer who was gruesomely murdered while on duty at Umuhu Ngor-Okpala along Owerri/ Aba Road in Imo State on September 23, 2015. This was made known by the state’s commissioner of police, Taiwo Lakanu while briefing newsmen yesterday at the Command headquarters, Owerri, the capital of Imo State. ... Read More »

Port stakeholders share worries over corruption with Customs

ABUJA: Port stakeholders under the aegis of the National Association of Government Approved Freight Forwarders NAGAFF; have raised fresh alarm over what they described as `increasing rate of corruption` at the nation’s seaports. In a letter addressed to the Comptroller General of the Nigeria Customs Service dated December 2, 2015 and signed by the national chairman of the anti – ... Read More »

African Customs seizes gold worth nearly R20m at int’l airport

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 »

US customs blocks import of Amazon rainforest timber

NREW YORK: Seventy-one shipping containers filled with Amazon rainforest timber have been retained at the Port of Houston since September in an international controversy over alleged illegal logging in Peru. The valuable hardwood from one of the world’s largest forests weighs 3.8 million pounds and is enough to cover several football fields. Under Peruvian law, every log taken from the ... Read More »

Malik Muhammad elects new Chairman of SIAL

SIALKOT: A Sialkot based leading exporter Malik Muhammad Ashraf was elected unopposed as chairman of Sialkot International Airport Limited (SIAL) during its annual elections held here. Another exporter Naeem Yousaf was also elected unopposed as vice chairman of SIAL. Meanwhile, President Sialkot Chamber of Commerce and Industry (SCCI) Maj (Rtd) Mansur Ahmed and SVP Muhammad Sarfraz Butt have greeted the ... Read More »

Vietnam cement export target misses mark in 2015

HANOI: While the cement industry was struggling with an excess of supply over demand, exports, which were considered a solution to boost consumption, failed to meet expectations. Cement and clinker exports in 11 months of this year dropped by 27 per cent over the same period last year to roughly 15 million tonnes, far below the target of 20 million tonnes ... Read More »

Vietnam manufacturing agreement in Nov 2015

HCM CITY: After rebounding in October, the Nikkei Vietnam Manufacturing Purchasing Managers’ Index once again slipped below the 50-point threshold in November, indicating a moderate reduction in activity, the monthly Vietnam at a Glance report by HSBC said. The momentum is unlikely to increase in the near term. New export orders, while improving, remained stuck at four-month lows, profit margins ... Read More »

Vietnam plans to attract $8b in investments during next 5 years

HA NAM: The northern province of Ha Nam plans to attract VND180 trillion (US$8 billion) in investments between 2016 and 2020, said an official of the province’s Department of Planning and Investment. Director of the department Nguyen Van Oang said it would give priority to projects in hi-tech and support industries, foodstuff processing and pharmaceuticals. “Investors are also welcome in ... Read More »

Another 10,000MW to be added to national grid by 2018: Ahsan

ISLAMABAD: The energy situation has been changed in the country and another 10,000 MW electricity would be added into the national grid by early 2018. Federal Minister for Planning, Development and Reforms Ahsan Iqbal Tuesday said this while addressing the consultative workshop on mid-term performance of the government and future plan, organised by Planning Commission of Pakistan. The workshop was ... Read More »

NHA spends Rs2.4b on 78.2km Nowshera-Chitral highway

ISLAMABAD: The National Highway Authority (NHA) has spent a sum of Rs2,393 million (about Rs2.5 billion) for rehabilitation and construction of 78.2km of Nowshera-Chitral Highway (N-45). An NHA official Tuesday told APP that the amount has been spent under PC-1 of Improvement and Widening of N-45. He said that Rs500 million were allocated and released for the improvement of 78.2km ... Read More »

Vietnam’s pangasius fish to ensure exports continue

HANOI: Vietnam’s fisheries agencies have been called upon to pay close attention to US regulations imposed on Vietnam’s pangasius fish to ensure that exports continue, reports VietNamNet. The task has been placed on the shoulders of the National Agro-Forestry-Fisheries Quality Assurance Department and the International Cooperation Department, under the Ministry of Agriculture and Rural Development, the Directorate of Fisheries and ... Read More »

Australia beef exports expected to total 1.19m tons in 2016

CANBERRA: Australia trimmed its forecast for beef exports on Tuesday as farmers reduce slaughter rates, with better weather triggering a slow-down in a run of record cullings expected to push the country’s herd to a 20-year low. Beef exports are expected to total 1.19 million tonnes in the year to July 1, 2016, the Australian Bureau of Agriculture, Resource Economics ... Read More »

Vail Resorts reveneu rises 36% to $174.6 million

COLORADO: Vail Resorts Inc. said its loss narrowed in the latest quarter as the ski-resort operator reported better-than-expected revenue growth on stronger season-pass sales for the coming winter season and a higher percentage of destination guests. The Broomfield, Colo.-based company said that as of Dec. 5, sales of season passes for the coming ski season rose 13% by number of ... Read More »

Mexico wants to double food exports to China in next year

MEXICO CITY: Mexico is seeking to double its food exports to China next year, the government announced Monday. The Latin American country is expected to export $290 million worth of food products to China in 2016, an increase of around $150 million compared with that of this year, according to the Secretariat of Agriculture, Livestock, Rural Development, Fishing and Food (Sagarpa). The ... Read More »

Ohio casino revenue surges 2.9% to $64m in Nov

OHIO: Gaming revenue increased in November at all four of Ohio’s state-controlled casinos with statewide revenue totaling $64.6 million, an increase of 2.9 percent over the same month in 2014. Locally, revenue at Hollywood Casino Toledo was up 2.5 percent to $14.4 million. Revenue at Hollywood Casino Columbus, the state’s other casino run by Penn National Gaming Inc., rose 3 ... Read More »