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‘Brazil soybean crop seen at 114.24 million tonnes as drought eases’

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SAO PAULO: Brazil’s 2018-19 soybean crop will total just above 114 million tonnes as the return of rains in February helped stem losses caused by a drought earlier in the season, a poll showed. Brazil, the world’s largest soybean exporter, was initially expected to produce more than 120 million tonnes of soybeans in the current season after an expansion of ... Read More »

Nikkei drops more than 3% over global economic slowdown fears

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Tokyo’s benchmark Nikkei index dived more than three percent on Monday, as fears grow over a global economic slowdown. The Nikkei 225 index lost 3.01 percent, or 650.23 points, to close at 20,977.11, while the broader Topix index fell 2.45 percent, or 39.70 points, to 1,577.41. Tokyo shares opened sharply lower, taking a negative lead from Wall Street, where stocks ... Read More »

SK Innovation to Build LiBS Plant in Poland by Investing 430 Billion Won

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SK Innovation will invest 430 billion won (US$378 million) in Poland to build a Li-ion battery separator (LiBS) plant. SK Innovation announced on March 27 that it will expand investment to accelerate the growth of its materials business, which is to be spun off on April 1. The plant will be built on a site of 340 million square meters ... Read More »

Nine Iranians held for smuggling drugs off Indian coast

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INDIA: Nine Iranians accused of setting their ship ablaze to try and destroy heroin stashed aboard have been rescued by India’s coastguard and held for drug offences, officials said. The crew made “desperate attempts to run away” when approached by authorities off the coast of Gujarat in India’s west, a statement from the state’s anti-terror squad said. “Indian Coast Guard ... Read More »

PH, Hungary agri chiefs hold bilateral meeting

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MANILA: Department of Agriculture (DA) Secretary Emmanuel “Manny” Piñol and Hungary’s Minister of Agriculture Dr. Istvan Nagy on Wednesday met to discuss emerging opportunities in the agriculture sector and how they can lead to stronger trade and investments ties. Piñol said issues discussed in the bilateral meeting were market access concerns and the proposed cooperation in the field of crops ... Read More »

German politicians split over bankrolling Deutsche Bank merger

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BERLIN: A political rift has emerged in Berlin over whether Germany should put its financial muscle behind a merger of Deutsche Bank and Commerzbank, politicians and officials said, complicating a bid to create Europe’s third-largest bank and fund it. Germany’s two top banks have struggled to recover since the financial crisis and government officials, led by Finance Minister Olaf Scholz, ... Read More »

SET mulls partners for digital assets

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The Stock Exchange of Thailand (SET) is open to joining with local and foreign partners to build up the digital asset ecosystem, with a focus on developing three asset-backed digital tokens in the initial stage. Under a plan to launch the digital asset exchange next year, the bourse will emphasise the development of three asset-backed digital tokens in the initial ... Read More »

SA faces hefty $124bn energy ‘transition risk’

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South Africa faces a “transition risk” of $124 billion between now and 2035 if it carries on with business as usual while the rest of the world cuts greenhouse gas emissions in line with the Paris Agreement. More than half of this would be borne by the government. This is one of the findings in a major report by the ... Read More »

1,500 kilos of cocaine seized in international drug bust; 14 arrested

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The Dutch and Belgian police seized 1,500 kilograms of cocaine at the port of Antwerp. The cocaine, hidden in a banana shipment, was intended for a company in Kapelle. 14 men were arrested at the company, the police said in a statement. On Monday a police SWAT team raided the company in Kapelle, after the truck that contained the cocaine ... Read More »

Indonesia, Thailand slowly reduce dependence on dollar in bilateral trade

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Use of the local currency settlement (LCS) scheme between Indonesia and Thailand has grown substantially since its inception in late 2017, Bank Indonesia (BI) said in a statement on Monday. The LCS scheme promotes the use of local currencies to settle transactions between related parties to boost international trade and investment between countries and reduce reliance on third-party currencies like ... Read More »

Plan needed from May over Brexit delay: Danish PM

Denmark's Prime Minister Lars Lokke Rasmussen arrives at a European Union leaders summit in Brussels, Belgium March 22, 2019. REUTERS/Toby Melville

Danish Prime Minister Lars Løkke Rasmussen was positive about the EU granting a short extension to the British government to facilitate an orderly Brexit, but said British PM Theresa May needed strong reasons for her requested delay. Rasmussen made his comments before leaving for Brussels on Thursday night, where leaders of EU countries met to discuss May’s request for an ... Read More »

S&P affirms Finland’s AA+ rating

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Rating S&P Global Ratings has maintained Finland’s ‘AA+’ rating, said S&P Global Ratings in a bulletin of its latest rating. The rating agency affirmed its ‘AA+/A-1+’ long- and short-term foreign and local currency sovereign credit ratings on Finland at the end of the week. According to S&P Global Ratings, the outlook remains stable. In its outlook, S&P Global Ratings pointed ... Read More »

Tuesday March 26 — Monday April 01, 2019

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Skeyes social tension disrupts flights to Brussels Airport

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Skeyes Air traffic controllers will continue with their strike action on Monday, ACV/CSC Transcom (Christian Democrat union) announced. Most delays are expected on incoming flights between 8 am and 4 pm. Departures from Brussels Airport will not be affected, but flights coming into Zaventem will be disrupted “without enough staff to ensure full capacity,” a spokesperson said. Liège airport traffic ... Read More »

NZ GDP grew 0.6 per cent in December quarter

A laborer works in a container area at a port in Tokyo, Japan July 19, 2017. Picture taken July 19, 2017. REUTERS/Toru Hanai

New Zealand’s gross domestic product (GDP) grew by 0.6 per cent in the December quarter and by 2.8 per cent over the year, Stats NZ said. The quarterly result was in line with market expectations but below the Reserve Bank’s latest forecast of a 0.8 per cent gain. The department said growth in the quarter was led by a 0.9 ... Read More »

Finanças seized 300,000 bank accounts and properties last year

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Portugal’s tax authority seized 300,000 bank accounts and properties last year, a drop of 17% and the lowest number since 2014. Despite the overall drop, real estate seizures increased between 2017 and 2018, rising from 16,166 to 18,008, including industrial and commercial buildings, lots of construction land, other land and houses. In May 2016, new legislation permitted the seizure of ... Read More »

Spanish economy set to keep growing despite global uncertainty

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The Bank of Spain issued its projections for the Spanish economy to 2021, and warned that any government that comes out of the April 28 election should prepare the public accounts for a potential downturn. Despite a global slowdown, particularly in the euro zone, the Spanish economy remains “notably dynamic,” said the supervisor in its quarterly report. While exports have ... Read More »

Hungary ICT sector revenue climbs 7% in 2018

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The sector accounted for 3.7% of total corporate revenue in the national economy, the KSH said. Revenue of IT companies grew by 17% to HUF 1,469 bln, while revenue of telecommunications firms was up 1.7% at HUF 1,218 bln. Revenue of publishers was up 2.3% at HUF 293 bln, while revenue of film, television and recording companies fell 3.2% to ... Read More »

Oman oil minister excited to be part of Sri Lanka oil refinery project

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HAMBANTOTA, Sri Lanka: Oman’s oil minister said on Sunday he was excited to be part of a Sri Lanka oil refinery project, an indication plans for the sultanate’s involvement may be back on track. The comments by Mohammed bin Hamad Al-Rumhy came after an Omani official last week had denied the Middle Eastern country had agreed to invest in the ... Read More »

Indian arrested for possessing hashish in Nepal

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An Indian national was arrested here and four kilo hashish recovered from his possession on Sunday, police said. The 43-year-old man has been identified as Shubhanarayah Shah, a resident of Bihar’s Motihari town. He was arrested from Shankaracharya gate at Birgunj area and 4 kg of the contraband was recovered from his possession, police said. Read More »