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Author Archives: Sadar Kareem

Argentina, China sign deal to build 2 nuclear plants

BUENOS AIRES: The Argentine President’s Office said on its website that the pacts between the two governments were inked within the framework of the G20 summit to be held in the Turkish seaside resort of Antalya, Fox News Latino reported. The agreements were signed by the president of Nucleoelectrica Argentina, Jose Luis Antunez, and the head of China’s CNNC nuclear ... Read More »

Seafood offsets lower energy exports in Atlantic Canada: EDC

HALIFAX: Weak commodity prices, including lingering low prices for oil, are creating declines in exports for energy exporting provinces such as Newfoundland and Labrador and New Brunswick, but higher demand and prices for seafood has mitigated the effect in Nova Scotia and contributed to rising exports from Prince Edward Island, according to a new global export forecast released by Export ... Read More »

SCL Search supply chain recruitment firm announces official opening

MISSISSAUGA: SCL Search, which specializes in the placement of supply chain and logistics professionals, officially opened its new office in the Streetsville Professional Building at 100 Queen St. S in Mississauga, Ontario. SCL Search fills an essential role in the Canadian economy. According to the Canadian Supply Chain Sector Council, there are currently over 27,000 unfilled supply chain positions in ... Read More »

Argentinean blueberry season to end

BUENOS AIRES: A total of 2,270 tons arrived at the different markets, and another 11.7 tons were shipped by sea and will arrive on week 50. The U.S. received 1,500 tons, whereas Europe and the UK together completed 761 tons, Canada 75 and Asia and others destinations, 34 tons. Volumes in the Argentine Northwest will be decreasing as of this ... Read More »

Samsung launches US$40K e-learning school pilot project

GEORGETOWN: Samsung Electronics yesterday rolled out its Samsung Smart School Programme at the North Ruimveldt Multilateral Secondary school. This programme will see some 120 students benefiting from an e-learning experience in the Maths, English and Science. Chief Planning Officer of the Ministry, Evelyn Hamilton, expressed gratitude to Samsung on behalf of the Minister for the introduction of this project. She ... Read More »

UN team arrives for more talks on Venezuela border dispute

CARACAS: A special United Nations (UN) team that is working to help discuss options of resolutions into the Venezuela border controversy was set to return last evening for a second round of talks with Government. According to the Ministry of Foreign Affairs yesterday, the UN Mission which was again dispatched by Secretary-General, Ban Ki-moon, is headed by his Chef de ... Read More »

US bank issues first debit cards for use in Cuba

MIAMI: A US bank announced it has begun offering its American clients debit cards they can use in Cuba for the first since the two Cold War foes moved to normalise relations nearly a year ago. Florida-based Stonegate bank said its US clients can use the Mastercard debit card at hotels, restaurants and other businesses on the communist-ruled island. “This ... Read More »

New oversight of freeports in Switzerland may reduce tax fraud, smuggling

BERN: The Swiss parliament yesterday OK’d stricter regulations on so called “freeports”—art warehouses that help collectors skirt taxes in their home jurisdictions—report The amendment goes into effect Jan. 1 and places a six-month time limit on the storage of anything intended for export, requires buyers intending to export works to a freeport to state their identity and requires anyone using ... Read More »

Canada to lift visa requirements for Mexicans soon

TORONTO: Mexicans will soon be able to travel to Canada without a visa. And they might actually want to, as newly elected Prime Minister Justin Trudeau makes strides to improve strained relations between the two countries. “Justin Trudeau confirmed he has given his cabinet instructions to in the future remove the requisite of Canadian visas for Mexicans,” an upbeat President ... Read More »

Canada: Retail sales fall 0.5% to $43.3b in Sep

OTTAWA: Following four months of gains, retail sales fell 0.5% in September to $43.3 billion. Sales were down in 8 of 11 subsectors, representing 60% of retail trade. After removing the effects of price changes, particularly lower gasoline prices, retail sales in volume terms edged up 0.1%. Lower sales at gasoline stations Sales at gasoline stations declined 3.7% in September ... Read More »

CITT declares CBSA abusive, directs CBSA to follow its decisions

OTTAWA: The Canadian International Trade Tribunal (CITT) released three decisions concurrently[1] (collectively referred to as the Bri-Chem trilogy) that instruct the Canada Border Services Agency (CBSA) to apply past CITT decisions interpreting the Customs Act to resolve disputes on the tariff classification, origin and value for duty of imported goods. The CITT granted the appeals by the importers in the ... Read More »

Nigeria, Japan trade volume hits $4.5b

TOKYO: The Trade Commissioner and Managing Director, Lagos Office, Japan External Trade Organisation (JETRO), Mr. Taku Miyazuki, has put the volume of trade between Nigeria and Japan in 2014 to about $4.5 billion. ‎The Japanese Trade Commissioner, explained that import from Japan to Nigeria and export from Nigeria to Japan increased significantly, noting that import from Japan, mainly consisted of ... Read More »

Nigeria records lowest GDP growth in four years: NBS

ABUJA: The National Bureau of Statistics, NBS, said that Nigeria, in the second quarter of 2015, recorded the lowest growth in real Gross Domestic Product, GDP, since 2011. The GDP, which is termed as the most important indicator of economic wellbeing of a nation, is the total value of all goods and services available for use and export in a ... Read More »

Nigeria, EU to stop rejection of export products

ABUJA: The Standards Organisation of Nigeria (SON) has partnered the European Union (EU) to build capacities and competences required to stop rejection of exports from Nigeria at the global market. It said to meet up with the diversification agenda of the Presidency, which would be pursued with the support of 2016 budget, Nigerian products must gain acceptance at the international ... Read More »

Mexico extends currency auctions through January amid volatility

MEXICO CITY: Mexico will extend daily dollar auctions in a bid to damp volatility in the peso after the currency sank 18 percent in the past year. The central bank said that it will continue offering $200 million daily in auctions triggered when the peso weakens by 1 percent from the previous day’s fixed rate. It will also offer an ... Read More »

US Coast Guard unloaded cocaine worth $17m at Miami Beach

MIAMI: The Coast Guard unloaded cocaine with an estimated value of about $17 million at its base in Miami Beach. The 550 kilograms (1,212 pounds) worth of the drug brought on shore from the Coast Guard Cutter Bernard C. Webber were confiscated as part of “Operation Caribbean Venture,” the agency said. On Nov. 15, a maritime patrol plane from the ... Read More »

Global coal imports declined

BEIJING: This has been a particularly bad week for the global coal industry, already battling multi-year low prices for the commodity. On Monday, the Institute for Energy Economics and Financial Analysis (IEEFA), set off fresh alarm bells by announcing that consumption of the fossil fuel was on track to drop an additional 2% to 4% before the end of the ... Read More »

Russia to ban Ukrainian food imports from Jan 1

MOSCOW: Russia says it intends to ban imports of Ukrainian food starting next year. The move announced by Alexei Ulyukayev, the economic development minister, could deal a considerable blow to the economy of Ukraine, which is already struggling from the fight with Russia-backed separatists in its eastern regions. Ukrainian Deputy Economic Development Minister Nataliya Mykolska was quoted by the Interfax ... Read More »

US Customs arrests Jamaican woman for smuggling 10 pellets of cocaine

BALTIMORE: U.S. Customs and Border Protection (CBP) officers arrested a Jamaican woman for allegedly smuggling more than four ounces of cocaine inside her body to Baltimore Washington International Airport. CBP officers referred Camella Simone Whyte, 31, to a routine secondary examination after she arrived from Montego Bay, Jamaica. Whyte consented to a medical examination during questioning, and that medical exam ... Read More »

27 Ships to arrive Lagos ports with foods, petroleum products

LAGOS: Twenty-seven ships laden with assorted foods, general cargoes and petroleum products are expected to arrive at Lagos ports from Nov. 18 to Nov. 30, the Nigerian Ports Authority (NPA) said. The NPA made this known in its daily ‘Shipping Position’ made available to newsmen in Lagos. It indicated that 14 of the expected ships would sail in with containers, ... Read More »