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Tag Archives: 2015

Canada’s Crescent Point Energy to reduce spendings by 28pc in 2015

TORONTO: Crescent Point Energy Corporation said it would cut its capital spendings by 28 per cent in 2015 as oil prices continue to tumble. Crescent Point said it expected average daily production of 152,500 barrels of oil equivalent per day, 9 per cent increase over its estimated 2014 production. The Canadian oil producer said it would spend C$1.45 billion ($1.23 ... Read More »

Canadian exporters wary of Russian currency crisis, sanctions

Canadian businesses stung by Russian sanctions unsure of what 2015 holds OTTAWA: Canadian exporters stung by Russia’s currency crisis and its retaliatory sanctions against the West over the crisis in Ukraine are wondering what 2015 will hold. The Russian market bought 563 million dollars worth of Canada’s agricultural exports in 2012. For some firms, the first half of 2014 had ... Read More »

Canadian consumers to save $12b at pumps due to low oil rates

OTTAWA: Canadian consumers spent record amount for gasoline in 2014, despite the slumping prices in the latter part of the year. They can expect a major break in 2015, thanks to lower crude costs which at current levels would deliver an estimated $12 billion in annual savings to motorists. Further drivers paid an average across Canada of $1.28.1 for unleaded ... Read More »

South Korea’s Kia, Hyundai eye to sell 8.2 million units in 2015

SEOUL: Kia Motors and Hyundai Motor, South Korea’s top two automakers set their 2015 sales target at 8.2 million units after topping the 8 million mark in 2014. Hyundai Motor Group Chairman Chung Mongkoo said in his New Year’s remarks to employees Friday that the group, the holding company of the two carmakers, aimed to produce and sell 8.2 million ... Read More »

Saudi beheaded in first execution of 2015

RIYADH: A Saudi citizen who was involved in drug trafficking has became the first person executed in 2015. The Saudi was beheaded in Saudi Arabia, where 87 people were beheaded last year. Malik bin Said al-Sayaari was put to the sword in the Al-Hasa district of Eastern Province after a repeat conviction for hashish smuggling, the interior ministry said. Saudi ... Read More »

FBR asks BPS-17 officials to complete personal evaluation reports by Jan 10

KARACHI: The Federal Board of Revenue has asked all BPS-17 officials of Pakistan Custom Service, Inland Revenue Service and ex-cadre to complete their personal evaluation report by January 10, 2015. Many of the said officers have not yet completed the evaluation report up to June 30, 2014. Completion of the report is a pre-requisite for processing the cases for promotion ... Read More »

South Korea inflation eases in December, central bank warns on price, policy link

SEOUL: South Korea reported its lowest inflation in more than 15 years, which could reinforce expectations for an interest rate cut early in 2015 though the central bank governor seems to feel there’s no hurry for one. December’s consumer price index rose 0.8 percent from a year earlier. The increase was the smallest since September 1999’s 0.8 percent annual rate and matched ... Read More »

FBR delegation to attend seminar in Malaysia

    ISLAMABAD: Two officers of the Federal Board of Revenue (FBR) will participate in four-day seminar on Tax Compliance Mechanism and Design in Malaysian capital Kuala Lumpur from January 12 to 16, 2015. Seminar is being organised by Organisation for Economic Cooperation and Development (OECD) in collaboration with Malaysian Tax Authority. OECD has mission to promote policies that will improve ... Read More »

Sales tax on petroleum products increased from 17pc to 22pc

LAHORE: The federal government has decided to increase sales tax on petroleum products from 17 percent to 22. The Federal Board of Revenue has issued a notification in this regard. The FBR was worried due to fall in petroleum rates and was facing dearth of revenue. The mini budget proposal was discussed in a meeting with Finance Minster Ishaq Dar ... Read More »

Tata Motors to launch its Bolt hatchback on January 20th, 2015

NEW DELHI: Tata Motors will be launching its Bolt hatchback on January 20th 2015. The manufacturer had recently started accepting online bookings for the hatchback at an amount of Rs.  11,000. It gets powered by a 1.2-litre turbocharged Revotron MPFi petrol engine making 89bhp of power and 14.27kgm of torque. The Bolt sports Tata Motors’ new design language that first ... Read More »

TDAP invites traders to take part in food, agro show in Jan 2015

    LAHORE: The Trade Development Authority of Pakistan (TDAP) has invited applications from traders until January 9, 2015 to participate in food and agro exhibition in Russia. The event will start on January 25 and end on January 30, 2015. The TDAP has given opportunity to traders to present their products and develop business with international buyers through these ... Read More »

Dy Director Mumtaz nominated for management course

    KARACHI: Deputy Director Directorate General of Transit Trade, Karachi, Muhammad Mumtaz Ali Raza Chaudhary is among nine BS-18 officers of Pakistan Customs Service nominated by the Establishment Division for 19th Mid Career Management Course at National Institute of Management, Karachi. The course at NIM Karachi would be held from January 5 to April 10, 2015. In addition to ... Read More »

Bank of England asked to keep interest rates low

LONDON: The Bank of England should keep interest rates at their record low of 0.5% in 2015 to avoid the risk of stagnation and deflation as the country faces continued cuts in public spending, a left of centre think tank has warned. The Institute for Public Policy Research (IPPR) called on Bank governor Mark Carney to freeze, do not squeeze ... Read More »

Auction of 30 commercial plots on Jan 5: CDA

ISLAMABAD: Capital Development Authority will be auctioning 30 of its commercial plots in different sectors whereas Park Enclaves bidding will be done on January 06. Chairman CDA presided a meeting in which auction related matters were brought under discussion. During meeting, CDA board took notice of undergoing construction in Park Enclave housing scheme. Meanwhile, it was decided to bid the ... Read More »

Russia’s economy may fall by 3% in 2015 on falling oil prices

MOSCOW: Economy Minister Alexei Ulyukayev said Russia’s economy may fall by 3 percent in 2015, with the average oil price of $ 60 per barrel. Ulyukayev said it turns out previously at this conjuncture recession could reach 3.0 percent. In its latest forecast, for which Ulyukayev was sharply criticized, the Economy Ministry was waiting for the price of oil in ... Read More »

Samsung smart TVs join Sony to start playstation games in 2015

LONDON: Samsung joined Sony to get the playstation Now service to select range of its smart TVs in 2015 that allow you to enjoy Playstation games without the actual PlayStation gaming comfort, although you ‘ll need to buy a Sony Dualshock controller. PlayStation Now on Samsung TVs will be available as an app that can be accessed through the company’s ... Read More »

Iraqi oil exports to increase to 400,000 barrels per day in 2015

KURDISH: the International Energy Agency said that the oil exports of Iraq were expected to be reached the bench mark of 300,000 to 400,000 barrels per day in 2015 including crude produced in the Kurdistan Region. The estimate from the West’s energy watchdog, citing regional and Western industry sources, follows a temporary agreement between Baghdad and the Kurdistan Regional Government ... Read More »

Taiwan all set to increase airport tax to US$15.86 in April 2015

TAIPEI: Taiwan airport has finally decided to increase the airport tax that has to be impose on the passengers after  Changi Airport in Singapore and Beijing Capital International Airport in China charge over NT$800 (US$25.37) per passenger, while Narita Airport in Japan and Incheon International Airport in South Korea charge around NT$700 (US$22.20). The airport tax departing passengers must pay ... Read More »

Namibia to start $223bn development plan next year

WINDHOEK: Namibia has planned to become a regional transport hub. To accomplish this target government of Namibia has started to knock markets and big investors to implement its developmental plan of 223 billion Namibian dollars ($19 billion) in the early next year. The southwest African nation’s government has said it will finance 73 billion Namibian dollars of the budget and ... Read More »

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