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Author Archives: CT Report

Jordan’s JPRC control to end with start of fuel imports


AMMAN: Jordan’s Manaseer Oil & Gas and the Jordan Petroleum Refinery Company (JPRC) will start floating tenders as of the end of January to buy diesel from international markets, putting an end to the JPRC monopoly over diesel imports. Under a memorandum of understanding signed between the three companies and the Energy Ministry, the companies will float a tender to ... Read More »

Allegation of money laundering against Dar refuted

Ishaq Dar

ISLAMABAD: The Finance Ministry Friday rejected the news item appeared in a section of media, regarding allegations of money laundering against Finance Minister Ishaq Dar. The Finance Ministry spokesperson said that the money laundering case was thrown out by the Lahore High Court as far back as 1996, yet unscrupulous elements keep referring to it for ulterior purposes. He clarified ... Read More »

Govt plans to lower import tariffs for IKD vehicle parts


JAKARTA: The government plans to lower import tariffs for incompletely knocked-down (IKD) vehicle parts in a bid to make sedans more affordable and drive up demand. Currently, demand for sedans is low because the car type is subject to luxury tax; sedans with an engine below 1,500 cc are taxed 30 percent, those with 1,501 to 3,000 cc 40 percent ... Read More »

PSQCA declares 13 mineral water brands unsafe


ISLAMABAD: The Pakistan Standards and Quality Control Authority (PSQCA) has declared 13 brands of mineral water unsafe due to excess of chemical or microbiological contamination. The companies including New Nation, Mazan Pure Life, Premier, Al Haider, Eau Water, Eden Pure Water, Deep Pure Water, Oriel, Jumeirah, Al Sahar, NG Fresh Water, Aqua National, Water Icon were found selling contaminated water. ... Read More »

CDA okays six projects worth Rs1.11 billion


ISLAMABAD: The Capital Development Authority Development has okayed six projectsworth Rs 1,114.212 million (over Rs1.11 billion) for the capitalcity. The projects were approved during the 38th meeting of CDA’s DWP, which was presided over by CDA Chairman Maroof Afzal. CDA board members, senior officers of Planning and Development Division, Capital Administration and Development Division (CADD) and senior officers of the ... Read More »

Switzerland’s consumer prices drop at slower pace in Dec


ZÜRICH: Switzerland’s consumer prices dropped at a slightly slower pace in December, the Federal Statistical Office said Friday. Consumer prices decreased 1.3 percent on a yearly basis after easing 1.4 percent a month ago. Prices were expected to fall 1.2 percent. Inflation has been in negative zone since late 2014. Consumer prices slid 0.4 percent month-on-month in December, following a ... Read More »

Pak rupee strengthens in cash-free market

Pak rupee (5)

KARACHI: The Pakistani rupee Friday gained some value against the US dollar in open market. According to the local money market, the dollar lost five paisas in the cash-free market to reach 106.20 and remained firm in interbank at 104.70. On Thursday, the greenback added five paisas in open market to reach 106.25 and remained unchanged in interbank at 104.70. Read More »

Port Qasim witnesses busy day

port qasim

KARACHI: The Port Qasim Friday witnessed activity as three ships carrying containers and Soya been seeds were berthed at Qasim International container terminal and FAP terminal respectively. Meanwhile, three more ships carrying containers and coal also arrived at outer anchorage of Port Qasim during last 24 hours. Berth occupancy was 65% at the port on Friday where a total seven ... Read More »

Iraq’s Kurds to continue exporting crude in 2016

local oil

IRBIL: Authorities in Iraq’s cash-strapped Kurdish region will withhold delivery of oil to the central government and export crude independently in 2016 to ensure revenue amid a global price slump, according to a senior lawmaker in the territory’s parliament. The central government in Baghdad wasn’t committed last year to paying the self-ruled Kurdistan Regional Government its 17 percent share of ... Read More »

Panel plans 18% climb in power tariff


KATHMANDU:  The Electricity Tariff Fixation Commission on Thursday informed the parliamentary Public Accounts Committee that it was mulling hiking the electricity tariff by 18 percent. Chairman of the commission Jagat Kumar Bhusal told lawmakers that they had concluded a study to jack up the rates. He added that the new tariff would be implemented as soon as the current political ... Read More »

Turkey auto production exports rise by 16% in 2015


ANKARA: Turkey broke an all-time automobile production and exports record last year, Automotive Industrialists’ Association (OSD) head Kudret Onen said in a statement on Thursday. Onen said the country’s automobile producers manufactured 1.4 million cars in 2015, an increase of 16 percent from 2014. The OSD’s figures include automobiles, light commercial vehicle and tractor figures. Onen said that the sector’s ... Read More »

Shipping intelligence report of Karachi Port


KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Friday. ALONG SIDE (Bulk Oil Pier): OP-II Quetta D.Crude Oil PNSC 08/01/16 OP-III Grazia L.Naptha Alpine 06/01/16 ALONG SIDE (East Wharves): 1 EL Zorro D.Steel Alpine 05/01/16 11/12 Jin Yue D.Steel AARAS-SH, 07/01/16 12/13 Amber Berverly D.Steel AARAS-SH, 07/01/16 ALONG ... Read More »

KPT’s shipping movement report


KARACHI: Following were the movements of ships at Karachi Port during the last 24 hours, ending at 0700 hours on Friday. SHIPS SAILED: YM Express Kavala Seas M.T Karachi Pacific Sky Salzgitter Abu Al Abyad Seapace Bunga Laurel SHIPS BERTHED: Hyundai Colombo Container Ship Xin Nan Tong Container Ship Salzgitter Car Carrier Hansa Centurion Container Ship Bunga Laurel Tanker Sima ... Read More »

Afghanistan seeking to import 1m tons of gas, oil from Iran

gas export

KABUL: Afghanistan is willing to import one million metric tons per annum of gas oil from Iran, Iranian Oil Minister Bijan Zanganeh said. Speaking after a meeting with Afghan Minister of Trade and Industry Homayoun Rasa in Tehran, Zanganeh said the two countries will continue talks about the prices of oil products, SHANA news agency reported here the other day. ... Read More »

Malaysia’s exports rise 6.3% last November


PETALING JAYA: Malaysia’s exports rose 6.3% to RM67.6bil last November compared with the same month in 2014 on a rise in refined petroleum products and higher crude palm oil shipments. However, November exports came in lower than economists’ expectations of a median 12% gain in a Bloomberg survey and a contrast to October exports, which had jumped 16.7%. Alliance Research ... Read More »

PIA unearths Rs12m scam


KARACHI: The national flag-carrier, Pakistan International Airlines (PIA), has unearthed irregularities worth Rs12 million while reconciling the accounts of its travel agents. According to a statement issued by the airlines, involvement of a PIA official is suspected in the case and was taken into custody. It said that the accused confessed to embezzlement, adding that the case has been referred ... Read More »

Iran bans import of S.Arabia goods


TEHRAN: Iran has banned the import of goods from Saudi Arabia after the kingdom cut diplomatic ties over attacks on the Saudi embassy following the execution of a Shiite cleric. Iranian state television made the announcement Thursday. It said the decision came during an emergency meeting of the Cabinet of President Hassan Rouhani. Annual imports from Saudi Arabia total about ... Read More »

Tripura opens new land customs station along Bangladesh border


DHAKA: A new land customs station has been opened in Tripura along Bangladesh-India border to facilitate two-way trade. Indian Minister of State for Commerce and Industry Nirmala Sitharaman along with Chief Minister of Tripura Manik Sarkar inaugurated the station on Wednesday at Srimantapur, the Indian High Commission said on Thursday. This station is located at Sonamura in Sepahijala district of ... Read More »

Nepal Stock Exchange market increase 14.25 points


KATHMANDU: Nepal Stock Exchange (Nepse) on Thursday posted a double-digit growth of 14.25 points to close at 1,164.14 points. Stockbrokers attributed the rise to the issuance of handsome dividends by a number of companies, including commercial banks and insurance companies. “Besides, a possible political consensus also boosted the investor confidence,” said Priya Raj Regmi, president of Stockbrokers’ Association of Nepal. Except ... Read More »

Export of soybean meal falls 97% in Dec 2015


KATHMANDU: Export of soybean meal (mostly used as animal feed abroad) plummeted by 97 per cent to 5,667 tonnes in December 2015.  Soybean meal export stood at 1,94,012 tonnes in December 2014, registering a sharp fall of 97 per cent, according to an official release. On a financial year basis, exports during April to December 2015 stood at 61,559 tonnes, ... Read More »