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Author Archives: CT Report

Vietnam shares likely to decline during early trading


HANOI:  The national stock market may extend its losses during early trading this week ahead of the US central bank’s December meeting, Maritime Securities Incorporate (MSI) wrote in a weekly forecast. MSI said Viet Nam’s benchmark VN Index would fall to between 565 and 566 points early in the week amid fears the US central bank would raise interest rates, ... Read More »

Ministry of Transport sets criteria for Airports Corporation of Vietnam


HANOI: The Ministry of Transport has set criteria for the Airports Corporation of Viet Nam, whose equitisation process is underway, to select strategic investors. The company, also known as ACV, has about VND22.43 trillion (US$996.89 million) in charter capital and plans to make an initial public offering (IPO) on the HCM Stock Exchange on December 10. It will offer strategic investors ... Read More »

MBBank receives merger approval in Vietnam


HANOI: The State Bank of Viet Nam last week approved in principle a merger between the Song Da Finance Company (SDFC) and the Military Commercial Joint Stock Bank (MBBank). The move was made after a request in a shareholder meeting of the SDFC and MBBank in October this year and will result in a new finance subsidiary which specialises in consumer ... Read More »

PM pledges to push economic growth in last 5 years


HANOI: Vietnam had accomplished important milestones in its socio-economic development effort in the last five years. As the country becomes increasingly integrated in the global economy, it must take advantage of growth opportunities as well as overcome numerous difficulties and challenges in the global playground, said Prime Minister Nguyen Tan Dung at the 2015 Viet Nam Development Partnership Forum (VDPF) ... Read More »

Sartaj says Pakistan will achieve sustainable development goals

Sartaj Aziz

ISLAMABAD: Pakistan will achieve the sustainable development goals recently announced by the United Nations for the welfare and prosperity of the people. Advisor to Prime Minister on Foreign Affairs Sartaj Aziz Monday said this while addressing 8th South Asia Economic Summit. He said although Pakistan could not achieve many of the Millennium Development Goals in the past but now it ... Read More »

US to expand overseas customs screening


WASHINGTON: As Congress debates blocking Syrian refugees and tightening visa rules, federal security officials are working to expand a popular program that screens travelers overseas customs and immigration. The Department of Homeland Security is negotiating to expand the Preclearance program to 10 airports in nine countries, all but two of which are in Europe. Lawmakers have voiced concerns that foreign ... Read More »

30% construction work of Rs22.34b Hazara Motorway project completed

Hazara Motorway

PESHAWAR: The 30 per cent construction work of 60-kilometer long Hazara Motorway has been completed as the project after completion would help promote business and tourism activities besides generating huge employment opportunities for people of Khyber Pakthunkhwa especially in Hazara Division. This was stated by Hazara Motorway General Manager Shahid Ehsan while talking to APP on Monday. He said that ... Read More »

South Korean stocks fall 0.54pc at end of trade, KOSPI declines 10.73pts


SEOUL: South Korean stock fell 0.54 percent Monday as foreign investors continued to dump local stocks ahead of a rate-setting meeting of the U.S. Federal Reserve next week. The local currency lost ground sharply against the U.S. dollar. The benchmark Korea Composite Stock Price Index lost 10.73 points to 1,963.67. Trade volume was slim at 375 million shares worth 3.35 ... Read More »

Government setting up 30 water ports on the Ganga


VIJAYAWADA: Government is setting up 30 water ports on the Ganga as inland waterways will be a “game- changer” for increasing exports and reducing cost of goods as well as passenger traffic, Union Minister Nitin Gadkari said today. “National highway is very important. But waterways are most important. In China 47 per cent of goods and passenger traffic is on ... Read More »

Backlog of tankers building at Venezuela ports


MEXICO: The backlog of tankers waiting to unload crude and products around Venezuela is growing larger, Reuters reports. As of December 2, data from the news service showed around 18 vessels anchored around Venezuela and Curacao, while another 45 vessels were heading towards the Caribbean or waiting to load crude or products at state-run PDVSA’s terminals. Some 12 tankers were ... Read More »

Unhackable, unbreakable, waterproof turing phone delayed till 2016


NEW YORK: In August this year, the ‘unhackable, unbreakable, and waterproof’ Turing Phone was announced to start shipping in December. However, Turing Robotic Industries has now sent an email announcing that it needs some more time and that the shipping date has now been delayed. It is worth noting that the smartphone already went up for pre-orders earlier this year. ... Read More »

Facebook announces suicide prevention Initiatives in Australia


PERTH: Facebook has taken an important step towards addressing suicide prevention concerns in Australia, with a new initiative aiming to address mental health of Australian users. The social media platform said they will now offer users “more resources, advice and support for people who may be going through a difficult time”. There are a number of new measures to be ... Read More »

China stocks edge up at end, Shanghai Composite gains 0.3


SHANGHAI: China stocks edged up on Monday, with investors rotating from property companies back into tech and healthcare, sectors that Beijing hopes will be new engines of growth. The blue-chip CSI300 index rose 0.3 percent, to 3,687.61, while the Shanghai Composite Index also gained 0.3 percent, to 3,536.93 points. But reflecting investor caution, trading volume in Shanghai shrank to a ... Read More »

Vietnamese rubber firms urged to improve processing

vn rubber firms

HCM CITY: Vietnamese rubber companies have been urged to improve processing and management technologies and product quality to raise competitiveness. Speaking at the Global Rubber conference in HCM City on Friday, Abdul Aziz Kadir, secretary general of the International Rubber Research Development Board (IRRDB), said with a high inventory coupled with public debt in the EU and Chinese economy showing ... Read More »

Coal stocks at key Indian ports rise 2.4% in December

Haifa Port

BEIJING: Coal stocks at 17 major Indian ports totaled 12.57 million mt as of December 4, up 2.4% week on week, data released by Indian shipbroker Interocean on Friday showed. The stockpile comprised 10.29 million mt of thermal coal, up 1.7% from 10.12 million mt the previous week; and 2.10 million mt of coking coal, marginally down 0.2% over the ... Read More »

Cargo from Turkish ships blocked at Russian Black Sea port


LONDON: Turkey released three of four Russian ships that it detained this month at a Black Sea port for maritime safety violations, according to data on the website of Port State Control for the Black Sea. The action at the port of Samsun came after Russia held five Turkish ships for port inspections at Novorossiysk, according to two port officials ... Read More »

Russian ships released after correcting safety violations


HONG KONG: The action at the port of Samsun came after Russia held five Turkish ships for port inspections at Novorossiysk, according to two port officials who requested anonymity because they weren’t authorized to speak to the media. All the vessels have been released by the Russians. Three of four Russian ships departed Samsun on Friday after making repairs to ... Read More »

India’s Adani Group, now the nation’s largest private port operator

Kuwait LNG imports

MUMBAI: India’s Adani Group, now the nation’s largest private port operator, has eyes on making overseas terminal acquisitions. The company held a groundbreaking ceremony yesterday for its long awaited Vizhinjam transhipment terminal in the south of India. Karan Adani said the company was looking to invest in ports in four nearby countries as well as three more on home soil ... Read More »

Vietnam observes renewable energy


HCM CITY: Reducing the use of scarce natural resources through measurement of energy efficiency is critically needed to meet the energy demand of a growing economy like Viet Nam, Vu Van Khiem, director general of the Ministry of Science and Technology’s National Office of the Southern Region, has said. Speaking at a three-day training conference on sustainable energy technology last ... Read More »

Australian stocks surge at close, S&P 200 up 4.1pts


PERTH: The Australian sharemarket ran out of steam to close flat, after having earlier galloped out of the stalls on a wave of optimism following fresh signs of robust health in the world’s largest economy. At the 4.15pm (AEDT) official market close, the benchmark S&P/ASX200 index was up 4.1 points, or 0.08 per cent, at 5155.7, while the broader All ... Read More »