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French trade delegation to visit Tehran to study investment potentials

PARIS: French officials say a major trade delegation will arrive in Tehran later this month to study investment potentials in Iran. The initiative will be led by France’s main business lobby group, the Medef. The delegation that it plans to send to Tehran will comprise about 130 firms, including top companies such as Total and Peugeot. They will be accompanied ... Read More »

Iran expects 4-5% economic growth in 2016 fiscal year

TEHRAN: Iran could see annual average growth of 4-5% beginning in the 2016 fiscal year, when the internationally brokered nuclear deal removes sanctions against the country’s oil and financial sectors, Washington think tank Foundation for Defense of Democracies and analysis firm Roubini Global Economics revealed in a report. This is far and above the negative growth experienced by the country ... Read More »

Iranian lowers oil price to get shares in market

TEHRAN: Latest trading data figures show Iran has lowered the quarterly price for its flagship crude to the lowest in three years. Latest trading data figures show Iran has lowered the quarterly price for its flagship crude to the lowest in three years in a bid to lure Asian buyers to lock in more term supplies next year. Report says that ... Read More »

More Chinese ports restrict hazardous cargo after Tianjin explosions

BEIJING: More Chinese ports have followed in the footsteps of the Port of Tianjin to restrict the movement of hazardous chemical cargoes at their facilities, disrupting global supply chains and the manufacturers that depend on the inputs. The ports of Qingdao, Lianyungang, Ningbo, and Xiamen have tightened hazardous cargo regulations or outright forbid the potentially dangerous cargo at their facilities. ... Read More »

Copper shipments from world ports to China falls in 2016

BEIJING: Premiums for term shipments of refined copper cathode to China are likely to drop further in 2016 after falling this year, hit by fears over slowing growth in the world’s No.2 economy and as appetite for using the metal as collateral on loans fades. Premiums, paid by Chinese importers to overseas suppliers to secure physical metal, are set over ... Read More »

Shanghai port strengthens its grip on rankings

BEIJING: It’s been five years since Shanghai toppled Singapore for the No. 1 spot in the JOC Top 50 container port rankings, and Shanghai firmly led with a 1.4 million-TEU spread in the 2014 results. Singapore, the Southeast Asia transshipment hub, had previously led the rankings for five years after dethroning Hong Kong in 2005. Here are four other things ... Read More »

Rs 90m tax evasion: RTO-I bans Bahir Pipe Industries from importing steel

LAHORE: Federal Board of Revenue (FBR) Regional Tax Office-I (RTO-I) Lahore has restricted M/S Bashir Pipe Industries involved in tax evasion to the tune of Rs 90 million, from import activities. As per details, Commissioner RTO-I Inland Revenue Asim Majeed issued many notices to the steel mills Directors Hashim and Zubair for the payment of taxes payable by him but ... Read More »

China’s real estate investment rises 3.5% to $959.18bn in Jan-Aug

BEIJING: China’s property investment growth continued to slow in the first eight months, indicating caution from builders and challenges facing the industry. Real estate investment rose 3.5 percent year on year to 6.11 trillion yuan (959.18 billion U.S. dollars) in the first eight months, with the growth rate 0.8 percentage points lower than that registered in the first seven months, ... Read More »

China retail sales swell 10.8% to $390.89bn in Aug

BEIJING: China’s retail sales grew 10.8 percent year on year to 2.49 trillion yuan (390.89 billion U.S. dollars) in August, the National Bureau of Statistics said on Sunday. The growth rate picked up slightly from 10.5 percent in July. In the first eight months, retail sales grew 10.5 percent. Growth in rural areas continued to outpace that in cities. Sales ... Read More »

China Unicom builds country’s first international undersea cable

NANNING: China Unicom, one of China’s main telecommunications providers, is building the country’s first international undersea cable, the company said here the other day. China Unicom is cooperating with Myanmar’s telecommunications operators to build the underwater cable, said Jiang Zhengxin, vice general manager of China United Telecommunications Corp., parent of China Unicom. The cable will carry information and data flow ... Read More »

China fixed-asset investment grows 10.9% to $5.32t in Jan-Aug

BEIJING: China’s fixed-asset investment grew 10.9 percent year on year to 33.9 trillion yuan (5.32 trillion U.S. dollars) in the first eight months, official data showed. Growth retreated from the 11.2 percent registered in the first seven months, the National Bureau of Statistics (NBS) said on Sunday. Wang Baobin, an NBS statistician, attributed the month-on-month decrease to slumping investment growth ... Read More »

China’s industrial output surges 6.1% in Aug

BEIJING: China’s value-added industrial output expanded 6.1 percent year on year in August, the National Bureau of Statistics (NBS) said here the other day. The growth rate was up slightly from 6 percent in July. NBS statistician Jiang Yuan attributed the month-on-month increase to improving performance in key industrial sectors and accelerated growth in high-tech industries. In August, high-tech manufacturing ... Read More »

UK to support internationalization of yuan

BEIJING: Britian will support the internationalization of the yuan and strengthen financial ties with China despite the recent volatility in the Chinese stock market, Lord Mayor of the City of London Alan Yarrow said ahead of his trip to China here the other day. Yarrow, who will lead a business delegation on a 10-day trip to China, suggested the recent ... Read More »

China vehicles sale falls 3% to 1.66 m units in Aug

BEIJING: Things are looking grim for China’s auto market, as sales have slipped for four months in a row compared with the same period last year. Vehicles sold in August stood at 1.66 million units, a 3 percent fall year-on-year, according to the Chinese Association of Automobile Manufacturers. “We have seen monthly sales fall year-on-year from May,” said Chen Shihua, ... Read More »

India’s Vizury bets on Chinese market

BEIJING: Vizury, an Indian big data marketing company, brought a new product to the Chinese market to help brands increase their efficiency in securing customers and personalizing their marketing solutions. The Bangalore-headquartered company recently announced in China the launch of Vizury Engage, a solution that combines the power of predictive analytics and personalization,offering brands a one-stop solution to engage users ... Read More »

China’s steel output rises 1.7%

BEIJING: China’s steel output climbed in August from a month earlier, shrugging off government-ordered shutdowns and increasing concerns that excess production in the world’s biggest supplier is swelling a global glut. Output of crude steel rose 1.7 percent to 66.94 million metric tons, according to data from the National Bureau of Statistics. While production was up from July, it fell ... Read More »

China commodities production weak as economy slows

BEIJING: China’s output of key industrial commodities including coal and steel weakened in August, as government measures to cut smog ahead of World War Two commemorations further cut production already lowered by a slowing economy. Growth in China’s investment and factory output missed forecasts in the month, pointing to a further cooling in the world’s second-largest economy that will likely ... Read More »

Oman inks trade agreement with China to enhance cooperation

MUSCAT: The ninth round of the strategic consultations between the foreign ministries of the Sultanate and the People’s Republic of China was held in Muscat on Friday. The Omani side was led by Sayyid Badr bin Hamad bin Hamoud Al Busaidi, secretary general of the Foreign Ministry, while the Chinese side was led by Zhang Ming, vice minister of foreign ... Read More »

Customs Intelligence seizes goods worth Rs 223 million in August

ISLAMABAD: Directorate General Customs Intelligence and Investigation Islamabad has seized Rs 223 million smuggled goods and registered 121 cases against the smugglers while arrested nine suspects during August 2015. Deputy Director headquarter Khaldunul Haq told Customs Today that during the course of anti-smuggling activities in August 2015, Directorate General Customs Intelligence and Investigation Islamabad seized smuggled goods worth Rs 223 million from different ... Read More »

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