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Author Archives: CT Report

Poland’s imports from Ukraine fall

business confidence fall

WARSAW: Poland and Moldova are currently far ahead of Ukraine when it comes to the export of fruits and vegetables. Polish shipments annually give the country $2.5 billion in revenue, while the value of Ukrainian exports of the same products is 10 times smaller, only $250 million. This was reported by the economist of the investment department of FAO, Andrey ... Read More »

CIBC offers Canada’s best bank dividend

cibc

OTTAWA: One of the downfalls with the recent move in North American banks is their dividend yields are becoming more depressed. It used to be easy to get 4% yields from Canada’s largest banks. It’s almost impossible now. There’s only one major Canadian bank that still offers a yield higher than 4%, which is Canadian Imperial Bank of Commerce (TSX:CM)(NYSE:CM). ... Read More »

Alberta economy improving

economy

OTTAWA: Alberta’s economy is on the road to recovery and more money is coming in, but there’s no change to the government’s projected $10.8-billion deficit this year. Finance Minister Joe Ceci says Alberta is going to make $1.5 billion more than expected in the current budget year which ends March 31. But he says increased spending on programs and disaster ... Read More »

French organic market raises 20% in 2016

French organic market raises 20% in 2016

PARIS: The Agence Bio reported the organic food market in France increased by 20%, reaching €7 billion in 2016. Whilst in 2003 half of the population had never eaten organic food, today seven out of ten consume organic produce at least once a month. 15% of the French population consumed organic produce on a daily basis in 2016 compared to ... Read More »

UK state-backed bank RBS reports £7 bln loss

loss

LONDON: The Royal Bank of Scotland, one of the U.K.’s state-owned banks, reported Friday a giant loss of £7 billion ($8.77 billion) for 2016. Already bailed out by the government since 2008, for about £58 billion ($72.6 billion), the bank said it would not return to profit until 2018. “The bottom line loss we have reported today is, of course, ... Read More »

Annual Europatat Congress to be held in Belgium in June 2017

Annual Europatat Congress to be held in Belgium in June

BRUSSELS: Belgapom, the Belgian Potato Traders and Processors, and Europatat, the European Potato Trade Association have confirmed the dates for the annual Europatat Congress, that this year will take place in Antwerp (Belgium) from 15-17 June 2017, at the Radisson Blu Astrid Hotel, located in the city center of Antwerp. Among the keynote speakers are Harry Arijs (European Commission, DG ... Read More »

BearingPoint revenues grow 10% on back of expansion strategy

grow heigher

LONDON: BearingPoint has seen its revenues grow 10% last year to €622 million, on the back of organic growth and expansion into new markets such as Singapore, Portugal, Romania and the Czech Republic. The international consultancy, which aims to breach the €1 billion mark by 2020, continues to hire aggressively and develop key talent. BearingPoint, a Europe-based management and technology ... Read More »

US customs find over 100 pounds of marijuana found hidden in hollowed-out firewood

marijuna

WASHINGTON: Customs officers in Arizona, USA said they found more than 100 pounds of marijuana concealed inside hollowed-out pieces of firewood. U.S. Customs and Border Protection said officers at the Port of Sasabe stopped a Ford truck driven by a 41-year-old man and a narcotics detecting canine indicated something unusual about the shipment of mesquite firewood in the back of ... Read More »

Spain: Record-breaking horticultural exports in 2016

Spain: Record-breaking horticultural exports in 2016

MADRID: The value of Spanish fresh fruit and vegetable exports in 2016 increased by 5% compared to the same period of 2015, totaling 12,486 million Euro (and exceeding 12,000 million for the first time), according to data released this week by the Ministry of Economy, Industry and Competitiveness and processed by FEPEX. The volume fell by 2% down to 12.5 ... Read More »

Turkey house sales soar in January

SALES RISE

ANKARA: House sales in Turkey surged 12.8 percent in first month of 2017 from a year earlier, official data revealed on Friday. In January 2017, 95,389 houses were sold, according to the Turkish Statistical Institute. Purchases via mortgaged loans were 35,993 in the month, up 35.4 percent from the same month of the previous year. This reflected consumers seeking to ... Read More »

South African fig exports shows rise

figs

CAPE TOWN: The South African fig export industry is expanding with domestic demand also showing improvement. Average yields in the Western Cape as well as in the Northwest Province are 3-4 ton per hectare. The South African export firm moving the largest volumes of figs is Star South, which exported 450t of figs last year (60% to the UK and ... Read More »

Turkey offers Azerbaijan to lock up agricultural import of each other

agriculture exports

ANKARA: Turkey proposes Azerbaijan to lock up agricultural imports on each other, basing on the political will of two countries’ presidents. Minister of Food, Agriculture & Livestock of Turkey, Faruk Celik, has stated that until 2023 both states should increase bilateral trade up to $15 bn, according to the agreement of the presidents. “In this regard, Turkey with agricultural import ... Read More »

Taiwan’s thermal coal imports down 2% in 2016

Thermal Coal

TAIPEI: Taiwan imported 65.32 million metric ton (mt) of thermal coal in 2016, down 2% on the year to the lowest annual volume since 2012, as shipments from Indonesia and Russia dropped, according to customs data. According to details, of the total, 64.08 million mt was bituminous coal and the remaining 1.24 million mt was sub-bituminous. Imports of Indonesian thermal ... Read More »

Iran says oil prices over $55 per barrel harmful for OPEC

OIL PRICES

TEHRAN: Iran said on Thursday an increase in oil prices to more than $55 per barrel was not in the interest of OPEC as it would lead to a rise in output by non-OPEC producers, the semi-official Fars news agency reported. “If oil prices specifically surge over $55 or $60 per barrel, non-OPEC producers will increase their crude production to ... Read More »

Netherlands’ Fugro expects growth for offshore business

Fugro Galaxy

AMSTERDAM: Fugro expects modest growth for its offshore wind business but believes wider group sales will continue to struggle. The Dutch company said all of its divisions reported a decline in revenue that was mainly caused by less work from oil companies. Revenue from offshore wind power, in contrast, was up. Site investigation work for wind projects in Europe and ... Read More »

Iran, Malaysia to expand trade ties using local currencies

bilateral trade

TEHRAN: Deputy head of Central Bank of Iran stressed facilitating trade transactions by using local currencies, welcoming the interest of Malaysian banks in opening Ringgit accounts for Iranian trade banks. Gholamali Kamyab heading a banking delegation to Kuala Lumpur, held talks with senior managers of trade banks and officials at the Central Bank of Malaysia on Friday. During his meeting ... Read More »

Russia loses WTO appeal over ban on pork imports from EU

ban

MOSCOW: Russia lost its appeal on Thursday against a World Trade Organization ruling on its ban on imports of European Union pigs and pork products. Moscow imposed a ban on most Western food imports in August 2014 after Western sanctions were launched over its role in the Ukraine crisis. It imposed the pig and pork ban after a few cases ... Read More »

Exports to Russia fall for the third straight year

profit fall

MOSCOW: Italian exports to Russia shrank again in 2016. Italian Trade Agency data show that Italian exports of goods and services to Russia amounted to €6.5 billion in the past 12 months, down from €7.1 billion in 2015. This is the third consecutive decline since in 2013 Italian exports to Moscow reached €10.8 billion. The decrease is due to the ... Read More »

Chemical giant Tronox plans $1.67bn deal for Saudi’s Cristal

Tronox

RIYADH: Chemical maker Tronox Ltd announced plans on Tuesday to buy the titanium dioxide business of Cristal, a subsidiary of Saudi Arabia’s Tasnee, for $1.67 billion cash and new shares. The deal would make Tronox the world’s largest producer of the whitening pigment, operating 11 titanium dioxide plants in eight countries with total capacity of 1.3 million tonnes per year. ... Read More »

Chinese economy expected to continue stabilizing in 2017

economy logo

SHENZHEN: The Chinese economy is expected to continue to stabilize in 2017 as several factors will combine to support the trend, a Chinese economist said Thursday. Domestic demand is expected to improve in 2017 as there is still much room for infrastructure investment to grow while manufacturing investment might also pick up, said Li Wei, head of the Development Research ... Read More »