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Author Archives: admin

Oman’s share index ends lower marginally


Muscat: The MSM30 index ended lower at 4,258.10 points by 0.51 per cent. MSM Sharia Index closed at 590.74 points, down by 0.89 per cent. Bank Sohar was the most active in terms of volume while Bank Muscat was the most active in terms of turnover. The top gainer was Muscat Finance which closed higher by 3.49 per cent while ... Read More »

Rs 35.8 billion parked in Swiss banks


Nepalis have parked Rs 35.8 billion in Swiss banks, violating the country’s law, which bars Nepalis from transferring funds abroad, says a year-long investigation conducted by the Centre for Investigative Journalism in collaboration with the International Consortium of Investigative Journalists. Nepali account-holders have earned interest of around Rs 774.1 million from the funds they deposited in Swiss banks, says the ... Read More »

Kuwait to invest $20 billion to develop civil aviation: DCGA chief


An investment of $20 billion is expected to be made in the next 10 years to develop and modernize civil aviation sector in Kuwait, a senior Kuwaiti official said. President of the Directorate General of Civil Aviation (DGCA) Sheikh Salman Sabah Al-Salem Al-Humoud Al-Sabah made that statement as he presented a paper in a ministerial session titled ‘Connecting the World’ ... Read More »

Qatar-Turkey trade surges to $2bn amid Gulf tensions


Trade between Qatar and Turkey is estimated to have topped the $2bn mark in 2018, a 54 percent jump compared with the previous year, a Turkish official said. Speaking at a Turkish trade expo that kicked off in Doha on Wednesday, Deputy Finance Minister Osman Dincbas said Qatar was one of the fastest growing areas of trade for Turkey in ... Read More »

MAN Energy Solutions Cements Iraqi Deals


MAN Energy Solutions has successfully commissioned six MAN 18V32/40 engines in a cement factory in Samawa, Iraq, and delivered five more engines of the same type to a freshwater-treatment plant in Basra. “The country’s infrastructure has suffered greatly from armed conflict in the past and the re-electrification of Iraq is pivotal for further growth and new prosperity. We are very ... Read More »

Jordan buys 60,000 tonnes hard wheat in tender, optional origin

Workers unload sacks of wheat flour in a warehouse in Jordan March 12, 2003 as part of World Food Programme plans to preposition food aid before any war in neighbouring Iraq. [Officials from the U.N. agency expect they will need food supplies to feed up to 900,000 displaced people and refugees for two and a half months in countries bordering Iraq in the event of any hostilities.] - RTXLUXM

Jordan’s state grains buyer purchased 60,000 tonnes of hard milling wheat to be sourced from optional origins in a tender for up to 120,000 tonnes which closed on Tuesday, traders said. It was bought at $269.95 a tonne c&f for shipment in the first half of March. Seller was trading house Ameropa. Two other companies took part in the tender, ... Read More »

Kandahar customs revenue surges 22.6pc last year


KANDAHAR CITY: The customs office of southern Kandahar province last fiscal year collected 7.82 billion afghanis, showing a 13.5 percent increase over the target. The revenue registered a 22.6 percent surge compared to last year’s income at a time when bilateral trade volume with Pakistan has reduced. Mohammad Akbar, Kandahar customs director, told Pajhwok Afghan News that the Ministry of ... Read More »

Woman attempts to smuggle 24 gerbils into Taiwan under her skirt


A woman has been caught trying to smuggle 24 gerbils into Taiwan under her skirt. Border patrol stopped the woman in Kinmen on Friday after they discovered her walking awkwardly and wearing a puffy skirt that was an “abnormal size.” The 60-year-old revealed that she had placed the rodents in plastic bags and strapped them to her legs. Images from ... Read More »

Jaime Botin to stand trial for smuggling €26 million Picasso painting out of Spain


JAIME Botin, Bankinter’s boss, will be standing trial for smuggling a €26 million Picasso out of Spain in 2017. The picture was seized by the French authorities from Botin’s yacht in Corsica in 2017 although Botin insisted that he was taking it to Geneva, intending to store it at the Freeport warehouse complex. Instead Botin, brother of Emilio Botin – ... Read More »

Portugal may face some export difficulties in 2019 – minister


“Given the uncertainty of the UK exit model (Brexit), this may make us face some difficulties in exports this year,” said Vieira. “The country [UK] is a very important client for Portugal.” “We are not going to feel such intense movements of export growth, as we have fortunately become accustomed to in recent years. We do not expect the economy ... Read More »

Nokia cuts more jobs in Finland


Nokia is to cut another 350 jobs as part of efforts to achieve annual savings of €700 million by the end of next year. The latest redundancies will impact the company’s workforce in Finland, with state broadcaster YLE stating that only one facility in Oulu will be unaffected. Of the company’s 100,000-strong workforce, just 6,000 are still located in Finland ... Read More »

Greece must regain full access to debt markets – EU’s Moscovici


Greece should regain full access to debt markets and all efforts should be made to that end, EU Economics Commissioner Pierre Moscovici said on Wednesday. “Let’s make Greece a full success story inside the euro zone … reduce unemployment, particularly among the young,” Moscovici told reporters in translated comments after meeting Greek Prime Minister Alexis Tsipras in Athens. “Greece should ... Read More »

Russian, Ukrainian defendants among those charged with hacking SEC system in trading scheme


Federal authorities filed charges accusing eight people, including individuals from Russia and Ukraine, of hacking into a government database holding corporate secrets in a scheme that led to at least $4.1 million in illegal trading profits. In a civil complaint, the Securities and Exchange Commission alleged that the defendants launched a sophisticated cyberattack against the agency starting in 2016. Once ... Read More »

Vietnam set for $5.7B CPTPP boost


ACCORDING to calculations by the National Centre for Socio-Economic Information and Forecasting under Vietnam’s Ministry of Planning and Investment, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will boost Vietnam’s GDP by $1.7 billion and exports by more than $4 billion by 2035, up 1.32 per cent and 4.04 percent respectively. Vietnam officially became the seventh member of the ... Read More »

Italy busts 14-member migrant and tobacco smuggling ring


ROME: Italian law enforcement has busted a 14-member people and tobacco smuggling ring that ran high-speed vessels carrying migrants and cigarettes from Tunisia to Sicily, Finance Police announced. “Criminal association dedicated to the exploitation of illegal immigration (and) tobacco smuggling dismantled,” the Finance Police tweeted. “14 arrests made, assets worth over 3 million euros (3.4 million U.S. dollars) seized.” The ... Read More »

Calls for Huawei boycott get mixed response in Europe


Europe is giving US-led calls for a boycott of Huawei 5G telecoms equipment a mixed reception, with some governments untroubled by spy suspicions against the Chinese giant, but others backing a ban. In the latest setback for Huawei, Poland said Friday it had arrested a Chinese telecoms executive suspected of spying for China, with local media identifying him as a ... Read More »

Indonesia`s foreign debts up 7 percent to US$372.9 billion


Indonesia`s foreign debts rose 7 percent year-on-year to US$372.9 billion as of late November 2018, according to Bank Indonesia. The debts comprised the government`s and the central bank`s debts worth US$183.5 billion and private and state companies` debts worth US$189.3 billion, the central bank said in its foreign debt statistics published. Compared to October 2018, Indonesia`s foreign debts increased US$12.3 ... Read More »

Danske Bank says may be investigated again in France


COPENHAGEN: Danske Bank, which is embroiled in a major money laundering case linked to its Estonian branch, may come under formal investigation for a second time in France, it said. Danske Bank is already under investigation by authorities in Denmark, Estonia, Britain and the United States over suspicious payments totalling 200 billion euros ($229 billion) made through its Estonian branch ... Read More »

Germany arrests Afghan dual national on suspicion of spying for Iran

germany_arrests_an_afghan-german_dual_national_for_spoying_for_iran._getty_images (1)

BERLIN: A 50-year-old Afghan-German dual national who worked for the German military was detained on Tuesday on suspicion of passing data to an Iranian intelligence agency, Germany’s federal prosecutor’s office said on Tuesday. The suspect, identified only as Abdul Hamid S., went before a judge on Tuesday, who ordered him to remain in custody while the investigation continued. “Abdul Hamid ... Read More »

Tuesday Jan 15 — Monday Jan 21, 2019

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