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Taiwan iron ore imports down 6%: Customs data  


TAIPEI: The trade statistics released by the Taiwan’s Directorate General of Customs for the month of October 2015 indicates sharp fall in iron ore imports by the country. Taiwan’s iron ore imports during the month totaled 1.959 Million tonnes, down by 6% when compared with the imports during the same month a year ago. The import prices averaged at $61.6 ... Read More »

South Korea’s gold reserves rank 34th largest in world

gold reserves

SEOUL: South Korea’s gold reserves ranked 34th largest in the world. According to data by the World Gold Council analyzed by a domestic think tank of KB Financial Group, the Bank of Korea held 104 tons of gold as of December or one-point-three percent of the nation’s foreign reserves. It’s the 34th largest in the world including international organizations. The ... Read More »

Venezuela halts natural-gas exports to Colombia

Gladstone LNG ships first liquefied natural gas cargo to S Korea

BOGOTÁ: Venezuela’s state oil company is temporarily halting natural-gas exports across the border to Colombia, citing climate factors and the need to generate electricity, the Colombian government said. Petróleos de Venezuela, or PdVSA. notified the ministry that supplies would be suspended as of Friday because of “the behavior of electrical energy generation due to climatic variability,” Colombia’s Ministry of Mines ... Read More »

Bolivia set to increase natural gas exports in 2016

natural gas

SUCRE: Bolivia is the largest exporter of natural gas in South America, and aims to increase exports to boost the country’s economy this year. Bolivia took the first steps on Friday to increase its liquefied natural gas exports in 2016, with further plans to continue to hike exports late this year, Prensa Latina reported. President Evo Morales has explained that ... Read More »

Japan Govt expects growth tax revenues in FY2016


TOKYO: This owes to expected growth in tax revenues as the economic recovery lifts corporate earnings and wages. The government maintained its downbeat assessment of exports, saying shipments are weak due to China’s economic slowdown and worries about emerging markets. The government plans to increase the issuance of 40-year Japanese government bonds by 400 billion yen. Japan’s annualized GDP expanded ... Read More »

Commercial oils widen slide on muted demand


MUMBAI: Castorseeds bold and castoroil commercial oil extended their fall at the oilseed wholesale market here today due to subdued demand from shippers in soap industries. Refined palmolein gained on mild offtake from retailers. Groundnut oil and linseed oil ruled steady in absence of any worthwhile buying activity. In non-edible section, castorseed bold dipped Rs 25 per 100 kg to Rs ... Read More »

Vietnam central bank lend rates hard to drop in 2016

vn central banks

HANOI: A number of factors will affect inflation in Vietnam next year, thus making it hard for lending rates to go down as expected, said Nguyen Thi Hong, deputy governor of the State Bank of Vietnam (SBV). Speaking at a media conference in Hanoi yesterday on the central bank’s performance in 2015 and plans for 2016, she said, “Inflation will ... Read More »

Russia’s oil export increases 10.6% in 2015

oil exports

MOSCOW: Russia’s oil export to far abroad countries grew 10.6% in 2015, year-on-year, to 220.267 million tons (4.423 million barrels a day), according to the operative report of Central Dispatching Department of Fuel Energy Complex (CDU TEK). Russia exported 17.997 million tons of oil in December 2015 (4.256 million barrels a day) – 26.0% more than in December 2014. Transneft ... Read More »

Venezuelan state oil company cuts gas exports


BOGOTA: Colombia’s Mining Ministry says the Venezuelan state oil company is temporarily halting gas exports across the border. The ministry says that PDVSA notified it that supplies will be suspended as of Friday. It cites the need for gas to generate local electricity due to climate factors in Venezuela, but gives no details. An agreement calls for Venezuela to send 39 ... Read More »

Vietnam to expand national greenhouse gas record system

greenhouse gasses

HANOI: Prime Minister Nguyen Tan Dung has approved the building of a national greenhouse gas (GHG) inventory system with the aim of creating a legal foundation for GHG inventory accounting in the country, a Government report said. The system, which is expected to be put into operation next year, also aims to enforce the country’s current regulations relating to the ... Read More »

Customs arrests 2 for smugling Rs 1.43cr gold, diamonds


MUMBAI: Gold, diamonds and luxury goods worth Rs 1.34 crore were recovered on Saturday from two persons who arrived from Hong Kong and Abu Dhabi at Chhatrapati Shivaji International Airport. In the first case, the Air Intelligence Unit of Mumbai Customs arrested one Priyank Morakhiya, who had arrived from Hong Kong. “We recovered 1.09 grams of gold valued at Rs ... Read More »

Cooking gas prices drop sharply


HCM CITY: The retail price of a 12kg canister of cooking gas in HCM City dropped sharply by VND31,000 (US$1.38) yesterday morning, or VND20,000 ($0.9) lower than the same period last year. The major gas distributors in the southern region are now selling 12kg cooking gas canisters for VND275,000 ($12.20) to VND280,000 ($12.40) after they announced the price cut on ... Read More »

Cattle smuggling increasing along Indo-Bangla border

Cattle graze at a ranch in the marshes o

GAURIPUR: Smuggling of cattle-heads has been increasing along the Indo-Bangladesh border in the Dhubri sector since the past few months. It is reported that the smugglers smuggle cattle-heads by using the riverine path of the Brahmaputra river in Mankachar-Sukhchar areas under South Salmara subdivision. The smugglers carry cattle-heads through trucks along the NH-31 through the Assam-Bangladesh border at Boxirhat. They ... Read More »

Cook arrested on suspicion of smuggling drugs


NEW YORK: A cook at the Yolo County jail has been arrested on suspicion of smuggling drugs into the facility. Ricardo Navarro was arrested on suspicion of bringing a controlled substance into the jail in Woodland. Sheriff’s officials received information that Navarro might be smuggling drugs into the jail. Navarro was ed at the jail Tuesday where he works for ... Read More »

Vietnamese stocks mix on last day of trading of 2015


HANOI: The market sent out mixed signals on the last day of 2015 when shares on Viet Nam’s two stock exchanges moved in opposite directions. The benchmark VN-Index on the HCM Stock Exchange inched down 0.1 per cent to close Thursday’s session at 579 points, ending a four-day rising streak. The Index climbed 6.1 per cent in 2015, making it the ... Read More »

Police arrest driver for smuggling cattles to Valley

live cattle

NEW DELHI: As per police sources, on specific information, a team from Ramban police station laid a naka near Shan Palace on Jammu-Srinagar National Highway and signaled a Tata Mahindra vehicle bearing registration number JK09-9232 for checking. On seeing police team, the driver accelerated the vehicle and tried to escape, but the cops chased and intercepted the vehicle near some ... Read More »

Sudanian mining minster calls to curb gold smuggling

gold bar

KHARTOUM: Sudanese mining minister Ahmed al-Karouri has complained that citizens of a neighbouring country were active in the smuggling of his country’s gold , calling for due policies to stem the practice. Addressing his ministry’s consultative council, Thursday, Karouri said the citizens of a neighbouring country he did not name “carry out a well concerted plan to smuggle gold through ... Read More »

Vietnam Industry, trade sectors urge to take on world


HANOI: Prime Minister Nguyen Tan Dung urged the industry and trade sector to make full use of advantages and opportunities to expand export markets brought about by the global economic integration. In a speech delivered at a conference to review the sector’s activities and tasks for 2016 held in Ha Noi on Thursday, Dung underscored the great potential of the ... Read More »

SL Customs recovers Rs 600m in smuggled gold, foreign currencies in 2015


COLOMBO: Over Rs.600 million in gold and foreign currencies were confiscated by the State after being detected during smuggling attempts in 2015, Sri Lanka Customs said. Speaking to Nation, Customs Media Spokesman Leslie Gamini said Customs officials had stopped 47 attempts to smuggling in gold to the country last year. A total of 41 kilograms of gold valued at Rs.206 ... Read More »

EAC sets for major trade improve in new cargo system


NAIROBI: Trade within East Africa Trade will receive a boost this year with the implementation of the cargo pre-clearance system at the port of Mombasa by the Kenya Revenue Authority. The system which came in place yesterday allows importers to clear goods before they arrive in the country, a move expected to improve port efficiency and delivery of imports in ... Read More »