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Russian agricultural firm receives $150m for exports

MOSCOW: Russia’s Sodrugestvo Group has received around US$150mn from Gazprombank for agricultural equipment exports to Europe, with a buyer credit insurance from the country’s ECA, Exiar. The agency insured Gazprombank’s loan to the overseas buyer or buyers, details of which could not be disclosed. Nikita Gusakov, managing director of business development and underwriting at Exiar, says: “This deal is one ... Read More »

China allows free refineries to export fuel in 2016 for first time

BEIJING: Beijing will allow independent refineries to export refined fuel next year for the first time, sources said, freeing up 20 percent of China’s refining capacity for sales abroad as the government aims to cut a local glut and boost investment. The move will allow independent refineries, also known as “teapots” such as Dongying Yatong Petrochemical and Panjin Beifang Asphalt ... Read More »

Nixing coconut oil imports brings relief for farmers

KOCHI: The Centre’s decision to drop its plan to import coconut oil has brought cheers to growers, but not to the market, as rates have witnessed a steady line this week. However, continuing rains in Tamil Nadu have pushed up copra prices, affecting arrivals from various production centres. Prices now rule at ₹6,900 per quintal in Tamil Nadu against ₹6,500, while ... Read More »

Zimbabwe obtains to increase global platinum supply in 2015

HARARE: The platinum market deficit will shrink this year, before moving into a small surplus in 2016 as supply from mining and recycling rises and investment falls, the World Platinum Investment Council said in a report yesterday. Mine supply, which rose 20 percent this year as output from major producer South Africa normalised after last year’s five-month miners’ strike, is ... Read More »

Zimbabwe seals two deals of $28m with Chinese companies

HARARE: Zimbabwe has sealed two deals with Chinese companies running into several millions of dollars for the off-take tantalite and chrome following the lifting of a four-year-old export ban on chrome ore. A Chinese company, CITIC International Corporation Limited yesterday signed a $28 million chrome and tantalite importation agreement with a Zimbabwean company Newton Mining in a deal expected to ... Read More »

UDG Healthcare reports 10% boost to revenues in 2015

WASHINGTON: Healthcare services provider UDG Healthcare reported a 10 per cent boost to revenues on Tuesday for full-year 2015, as the company said it was “very positive” about long-term growth prospects. In the year ended September 30th, revenues at UDG, which provides pharma groups with outsourced services, grew by 10 per cent to €2.3 billion, or by 4 per cent ... Read More »

Household debt sees as S. Korea’s potential time bomb

SEOUL: Soaring household debt that could exceed 1,200 trillion won (US$1.03 trillion) by year’s end is becoming a serious liability to South Korea’s long-term economic well-being, local observers said Tuesday. The alarm bells are going off as the Bank of Korea (BOK) announced earlier in the day that the country’s household credit hit an all-time high of 1,166.4 trillion won as ... Read More »

TechnologyOne records 200% obscure growth for FY 2015

WELLINGTON: Enterprise software company TechnologyOne has recorded its 12th consecutive year of record revenue and licence fees during the 2015 financial year, which it attributed to continued investments and the uptake of its cloud offerings. The company reported that net profit after tax (NPAT) exceeded initial market guidance of between 10 and 15 percent. Instead for the full financial year, ... Read More »

Vietnam’s imports of Chinese steel climb 62% in Jan-Oct 2015

HANOI: Vietnamese steelmakers are hurt by the huge imports of Chinese products, which rose 62.1 percent year on year in the January-October period, the General Department of Vietnam Customs has said. Vietnam spent US$3.49 billion importing 7.71 million metric tons of steel from China during the ten months, a 39.8 percent increase in value, the customs department said in a ... Read More »

Vietnam expands market of information technology with Japan

HANOI: Viet Nam has a huge opportunity to expand its market and strengthen its scale of information and technology (IT) co-operation with Japan, said Nguyen Doan Hung, chairman of the Viet Nam-Japan IT Cooperation Club (VJC) at a business forum in Ha Noi yesterday. Twelve large Japanese companies, which handle advanced technology from the Kansai region, visited the capital city ... Read More »

Ukraine’s exports of ferronickel fall 7.3% in 2015

KIEV: Ukraine’s exports of ferronickel fell 7.3% year on year to 74,900 mt in the first nine months of the year, down from 80,830 mt exported in January-September 2014, the state statistics service reported Monday. At the same time, revenues from exports of ferronickel increased to $193 million from $188.8 million a year ago, the statistics service said. Over January through ... Read More »

Nigerian crude oil exports expected to rise 10% in Jan

LONDON: Total exports of Nigerian crude oil are expected to rise by nearly 10 percent to a three-month high in January, according to initial loading programmes. Nigeria’s export plan for January includes a total of at least 61.8 million barrels of oil, or 1.99 million barrels per day (bpd), the highest since October this year. Loading information for at least ... Read More »

Nicaraguan coffee exports plunge about 62% in Oct

MANAGUA: Nicaraguan coffee exports plunged by about 62 percent in October, the first month of the current 2015/2016 harvesting season, compared with the same month last year, the national export center Cetrex said on Monday. Coffee shipments in October totaled 37,605 60-kg bags. While Cetrex did not provide an explanation for the fall, the head of the country’s coffee exporter’s ... Read More »

Nepal industrial sector acquires loss of 200 bln

KATHMANDU: Minister for Industry Som Prasad Pandey on Monday stressed the need for ushering the country forward on a path of self-dependence. At an interaction on ‘Condition of Nepal’s industries during blockade’ held by Media International here in the capital city, Minister Pandey insisted on introducing new views and planning in agriculture and hydro power sector, and urged the neighbouring ... Read More »

Vietnam scrap imports drop over 18% in Oct 2015

HANOI: The scrap imports by Vietnam dropped by over 18% during the month of October this year. The imports totaled 253,000 during the month.Vietnam’s scrap imports fell over 18% in October The most recently released trade data indicates that scrap imports by Vietnam during the month of October this year dropped sharply when compared with the previous month. Vietnam imported ... Read More »

Nepal’s cereal imports to swell record 855,800 tons in 2015-16

KATHMANDU: Nepal’s cereal imports are expected to swell to a record 855,800 tonnes in 2015-16, a whopping 35 percent jump over last year’s level, the Food and Agriculture Organization of the United Nations said in its latest report. In terms of value, the import figure could reach Rs48 billion. The country’s cereal import bill amounted to Rs35.12 billion in the ... Read More »

China increases import of apples, grapes, pears

BEIJING: China’s apple imports are expected to jump nearly 50% over last year to 100,000 metric tons, while pear and table grape imports are also on the rise according to the U.S. Department of Agriculture. Pear imports will increase more than 20% to 12,000 tons for the year ending June 2016, with grape imports up about 10% to 250,000 tons, ... Read More »

Jordan’s total exports drop 7.2% during 9 nine months of 2015

AMMAN: Jordan’s total exports during the first nine months of 2015 amounted to JD4.16 billion, a 7.2 per cent drop from the level recorded during the same period of 2014, the Department of Statistics (DoS) announced Monday. National exports were 7.3 per cent lower at JD3.6 billion of the total, whereas re-exports came at JD0.6 billion, a 6.5 per cent ... Read More »

Colombia starts to import 39 MMcf/d of natural gas in Jan 2016

BOGOTÁ: Colombia in January will begin importing 39 MMcf/d of natural gas from neighboring Venezuela to meet domestic needs, ending decades of natural gas self sufficiency, the head of Ecopetrol said Monday. The country is negotiating to increase that level of imports over coming months, Juan Carlos Echeverry, the CEO of the state-controlled company, said in an interview published Monday ... Read More »

Econet Wireless Global shuts down, put on auction

HARARE: Econet Wireless Global (EWG) has shut down and put on auction its water purifying company, Seldon Technologies, in a move blamed on negative economic performance. EWG is the holding company of the country’s leading telecommunications firm, Econet Wireless Zimbabwe. International media reports indicate since 2011, Econet Global had pumped about $20 million investment into the US-based company. Concluding what ... Read More »