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Author Archives: sania sania

Vietnam bad debts ratio in domestic banking system drop to 3.21 % in August

HANOI: The ratio of bad debts in the domestic banking system dropped to 3.21 per cent at the end of August 2015, from 4.93 per cent recorded in September 2012. State Bank of Viet Nam Deputy Governor Nguyen Kim Anh announced the figures at a seminar reviewing banking reorganisation over the last three years, in Ha Noi yesterday. Anh reported that, ... Read More »

Tilapia fish exports likely to reach $130-150m by 2020

HCM CITY: Tilapia exports are expected to reach US$130-150 million by 2020, according to the Viet Nam Directorate of Fisheries. Export of the fish has seen strong growth in the past decade, rising to more than $32 million last year from $1.95 million in 2004, it said. It has been exported in the form of frozen whole fish, skin-on fillet and ... Read More »

Import of apples Ltd to Mumbai, cost to rise Rs 50kg

CHENNAI: If the retail prices of imported apples weren’t high enough – at 150/kg or more – expect to pay up to Rs 50/kg extra courtesy of an order of the Union commerce ministry restricting import of the fruit only through Nhava Sheva Port in Navi Mumbai. The ministry issued the order issued on September 14 ostensibly in an attempt ... Read More »

Kenya’s economic growth slows to 5.5 % YOY in Q2 as manufacturing

NAIROBI: Kenya’s economic growth slowed to 5.5 percent year-on-year in the second quarter as manufacturing, construction and financial services weakened, the statistics office said on Wednesday. Gross domestic product expanded 6 percent year-on-year in the same period of 2014, Kenya National Bureau of Statistics said. On a quarterly basis, the economy grew a seasonally adjusted 1.7 percent in the second quarter ... Read More »

S&P raises South Korea’s sovereign currency rating

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Japan’s import of office furniture rises in July

TOKYO: Japan’s imports of office furniture rose in July marking the first increase in imports since January this year. However, despite the rise, July imports are well down on the avearge monthly imports in the first quarter of the year. Both kitchen and bedroom furniture imports rose in July consolidating the monthly increase seen since the end of the first ... Read More »

Japan post new records for broiler meat consumption in 2015

TOKYO:  Japan will post new records for broiler meat production, consumption, and importation in 2015, a recent report from the US Department of Agriculture’s Foreign Agricultural Service predicts. The records will arise from poultry sales outpacing relatively higher priced pork and beef in both the retail and food service sectors. Pork prices have now begun to soften, but the trend of ... Read More »

NZ stands firm on lamb export deal New Zealand sets firm on lamb export agreement

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IMF lowers Zimbabwe’s growth forecast

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Australia leading way in tackling people smuggling throughout region

CANBERRA: Thousands of people have crammed boats bound for Thailand, Malaysia and Indonesia economic migrants from Bangladesh and members of the oppressed Rohingya fleeing Burma. This people movement has brought a focus to the situation of the Rohingya, but their plight is not a recent event, the reality is that the tragedy of the Rohingya has been going on for ... Read More »

Hidden strength of Japanese Exports

TOKYO: An unsung hero of Japan’s economy may be exports after all. There has been consternation that the depreciation of the yen since the Bank of Japan started easing in April 2013 hasn’t translated into a major export boost, as many expected. Yet as can be seen in Japan’s first-quarter gross domestic product numbers, out Wednesday, exports are at least ... Read More »

Australia could reach 100% renewables by 2040

CANBERRA: Australia could reach 100 per cent renewables as early as 2040 by adding 1.9GW of solar PV and 1.9GW of wind power capacity a year, according to one of Australia’s top renewable energy experts. Andrew Blakers, who is the director for Sustainable Energy Systems at the Australian National University, told the Australian Solar and Energy Storage conference in Melbourne ... Read More »

Tax questions for Auckland housing market

WELLINGTON: The Government is looking at how Inland Revenue’s enforcement resources can be beefed up in relation to leveraging tax off the trading of houses, Finance Minister Bill English says. Mr English said real estate agents and buyers were pointing to higher levels of trading activity in the Auckland housing market, which he said raised the question as to whether ... Read More »

Ukraine creditors brace for tougher talks after Ukreximbank deal

KIEV: Ukraine bondholders will probably have a tougher time in the next round of debt restructuring talks than creditors of the nation’s third-largest bank. State Import-Export Bank of Ukraine awarded creditors higher coupon payments and guaranteed to pay principal in full to avert default on $750 million of bonds due Monday. The price of Ukraine’s sovereign Eurobonds suggests holders will ... Read More »

Metro Vietnam found owing over $2.92mn in tax in transfer pricing inspection

HANOI: Many Vietnamese tax agencies had tried to clarify the transfer pricing dispute of the company but failed to find any wrongdoings until the General Department of Taxation launched its own inspection. The general department finished its two months of inspecting on Monday and ruled that the wholesaler chain pay VND62.64 billion ($2.92 million) in tax arrears, a deputy minister ... Read More »

55 dead greyhounds found dumped in Australia

CANBERRA: Fifty-five dead greyhounds have been found dumped in Australia and spent rifle cartridges seen nearby, police said, with the grisly discovery coming on the heels of a live baiting scandal rocking the dog racing industry. The carcasses were in various states of decomposition when found by a member of the public near Bundaberg, 360 kilometres (223 miles) north of Brisbane ... Read More »

Japan tax agency joins FBI for reviewing Universal casino’s $40m payments

TOKYO: Japan tax agency authorities have begun a review of how slot machine maker and casino developer Universal Entertainment accounted for $40 million in payments made in 2010 to an associate of the Philippines’ top gambling regulator at that time, people with knowledge of the matter told Reuters. Separately, the payments are also a focus of a previously undisclosed criminal ... Read More »