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Author Archives: Tahir Iqbal

Sharp rise in India’s textile imports post-GST.

MUMBAI: Made from man-made fibre (MMF) and cotton fabric, in the first two months after implementation of the Goods and Services Tax (GST), Confederation of Indian Textile Industry (CITI) has said citing data from Directorate General of Commercial Intelligence & MUMBAI: There has been a sharp increase in India’s imports of textiles, particularly yarn and fabric Statistics. The import of ... Read More »

Gov’t admits difficulty in policing illegal drugs smuggling.

MANILA:Solicitor General Jose Calida admitted during tuesday’s oral argument that the government is focusing on street peddling in its war on drugs because it is difficult to control or stop the illegal drugs smuggling. Calida was responding to the question of Senior Associate Justice Antonio Carpio on why the government was concentrating on street peddlers instead of stopping the bulk ... Read More »

Qatar, Norway puts on the brakes but oil cash splurge is hard to kick

OSLO: Putting on the brakes is a relative term in Scandinavia’s richest economy.  The Norwegian government yesterday proposed spending 231.1bn kroner ($29bn) of its oil income and wealth to plug a deficit equal to 7.7% of gross domestic product, roughly unchanged from this year. To do this, it will withdraw 72bn kroner from its massive wealth fund, up from a ... Read More »

Spain: state deficit shrinks by over 43% in Q1

MADRID: Spain posted a deficit equivalent to 0.49% of GDP to month-end March, 0.41 points lower than the deficit of the same period in 2016 and significantly below the previous month’s figure (0.97% of GDP). According to the Spanish Ministry of the Treasury and Public Function, in the first quarter of the year, the State posted a deficit of 5.66 ... Read More »

Duna House AGM approves HUF 479m in dividends

BUDAPEST: Shareholders at Thursdayʼs annual general meeting of listed real estate agency Duna House approved a proposal to pay out dividends totaling HUF 479 million, the company said on the Budapest Stock Exchange website, as reported by Hungarian news agency MTI. Duna House told MTI on Friday that HUF 447 mln of this amount will be paid to holders of ... Read More »

Gestamp to list in €3.7b Spanish IPO

MADRID: Car parts maker Gestamp plans to float its shares in Spain in the largest European IPO so far this year. The business aims to sell at least 25 per cent of its shares according to an intention to float document filed on Monday morning, with an expected valuation of at least €3.7bn. Its shares will be listed on the ... Read More »

Brazil ends proceedings against steel association

BRASÍLIA: Brazil’s competition watchdog Cade has agreed to end administrative proceedings against local steel association IABr regarding claims the trade group abused its rights to request injunctions, the antitrust authority said in a statement. IABr was being accused of trying to damage legally established steel rebar importers in the country. The proceedings were requested in 2011 by the national association ... Read More »

South Africa, EU spar over chicken meat imports

CAPE TOWN: S. African poultry industry workers on Wednesday marched to the European Union’s headquarters in Pretoria, accusing the EU of dumping cheap chicken in the country. The EU says it is not the cause of the industry’s woes. About 500 workers, former workers and company managers from the South African poultry sector took part in the protest, warning that ... Read More »

Turkish police busted human trafficking ring

ANKARA: Turkish police busted a human trafficking ring Friday, detaining 23 alleged traffickers suspected of smuggling migrants from Turkey to Europe, local media reported. Police in Izmir were reportedly tracking the suspects since October and caught them as they were planning to smuggle more migrants to Italy. Police estimated the group made a profit of about 4 million Turkish Lira ... Read More »

Value of Irish dairy exports to the UK drops 10% in 2016

DUBLIN: A decline of over 10% was recorded in the value of Irish dairy exports in 2016 to the UK at an estimated €840m, according to Bord Bia’s Export Performance and Prospects report for 2016-2017. With in the region of a quarter of total Irish dairy exports going to the UK, it remains a key market for Irish dairy produce. ... Read More »