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Author Archives: CT Report

Toshiba to axe up to 7,000 jobs

toshiba logo

TOKYO: Toshiba Corp is looking to cut up to 7,000 jobs, as it looks to streamline operations in the wake of an accounting scandal, the Nikkei business daily reported. Most of the 6,000-7,000 job cuts will be in the company’s lifestyle segment, which includes consumer appliances, the newspaper said. Toshiba is also looking to “drastically” reduce operations at its Ome ... Read More »

Iran puts embargoes on import of 227 US goods

ban

TEHRAN: The Iranian regime directed regional authorities across the country to implement a ban on the import of over 200 American products, Iran’s semi-official PressTV news service reported on Monday. The Trade Promotion Organization of Iran has published the names of 227 goods subject to an import ban and sent the list to authorities in all the 31 provinces across ... Read More »

KPT shipping movement report

kpt

KARACHI: Following were the movement of ships at Karachi Port during the last 48 hours, ending at 0700 hours on Tuesday. SHIPS SAILED: Falcon Grace RED Jacket OEL Dubai Kota Kaya APL Agate SHIPS BERTHED: Kota Kaya Container Ship Hammonia Toscana Container Ship Everrivh 3 Tanker ACX Pearl Container Ship EXPECTED SAILING DATE Orient Star 15/12/15 ACX Pearl 15/12/15 Quetta ... Read More »

LDA generates Rs82m thru auction of 10 plots

auction

LAHORE: The Lahore Development Authority (LDA) has generated an amount of Rs80 million though auctioning of 10 commercial and residential plots. Maximum bid was offered for commercial plot No 391 situated in Block D-2 of Johar Town which was auctioned in Rs25,320,000. Its bid starting price had been fixed as Rs1,520,000 per marla whereas it was auctioned in Rs1,575,000 per ... Read More »

Philippines to import more rice in 2016

guyanarice

MANILA: The Philippines’ state grains procurement agency, National Food Authority (NFA), said it expects to sign new rice import deals in January to ensure adequate domestic supply of the grain amid worries of drier weather in the first quarter. “It will be finalized within the year and contracted in January,” NFA Administrator Renan Dalisay told reporters on Monday, when asked ... Read More »

Poland planning to export coal from Ukraine

coal port

WARSAW: Poland is planning to sell its hard coal stockpiles to Ukraine in order to raise cash to inject liquidity into the country’s struggling state-owned coal miners, development minister Mateusz Morawiecki, said Monday. “There is a coal deficit in Ukraine. We are working on selling our excess coal there,” Morawiecki told reporters. Morawiecki, who is in charge of the new ... Read More »

Argentina to remove export taxes on agricultural products

JAPAN MINISTRY OF AGRICULTURE

BUENOS AIRES: Argentine President Mauricio Macri on Monday eliminated export taxes on beef, corn and other farm products, a move that could dramatically boost the country’s agricultural output. Standing in front of a row of green corn stalks at a farm a few hours northwest of this capital, Mr. Macri, who was sworn into office last week, fulfilled one of ... Read More »

CPEC’s western route to be completed by end of 2016: Mushahid

Mushahid

ISLAMABAD: Parliamentary Oversight Committee on China Pakistan Economic Corridor (CPEC) Chairman Mushahid Hussain Sayed has said the western route of the corridor would be completed by December next year. According to the Radio Pakistan, said the committee members visited Balochistan and they would visit Sindh next month, Radio Pakistan reported. Mushahid said the Committee would visit China next year on ... Read More »

Abbasi says will resign if corruption in LNG import proved

Federal Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi

ISLAMABAD: Minister for Petroleum and Natural Resources Shahid Khaqan Abbasi has said that he will resign from the post if any corruption was proved in the import of LNG. He was responding to a motion moved by Senator Mohsin Aziz to discuss the issues of award of LNG terminal to Elengy Terminal Pakistan Limited (ETPL) without completing the Codal formalities ... Read More »

Sunflower oil exports decrease in Kazakhstan

sunflower oil

ASTANA: Season 2015/16 began with a significant sunflower oil exports reduction in Kazakhstan. So, sunflower oil exports reached only 3 KMT within two months of 2015/16 MY (September-October). This is 33% less than in September-October of season 2014/15 being the minimum   exports volume for the specified period since   season 2008/09. It should be noted that sunflower oil exports decline from ... Read More »

Govt constructing small dams to overcome water shortage: Senate told

Dam

ISLAMABAD: The government’s top priority is to build small dams to overcome water shortage in the country. This was stated by Minister of State for Parliamentary Affairs Sheikh Aftab Ahmed while responding to a motion moved by Col (R) Syed Tahir Hussain Mashhadi in the Senate to discuss the situation arising out of the non-construction of new dams in the ... Read More »

China-UAE ink agreement to set up $10b investment fund

china

BEIJING: China and the United Arab Emirates agreed on Monday to set up a major investment cooperation fund, reportedly worth $10 billion, to benefit third parties and the two countries themselves. After a meeting in Beijing, President Xi Jinping and the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan witnessed the signing of a memorandum of understanding ... Read More »

Heijmans signs Integral Management Contract with govt

Real-estate

AMSTERDAM: The Central Government Real Estate Agency (Rijksvastgoedbedrijf) and Heijmans have signed an Integral Management Contract (IBC) for the management and maintenance of data centres and offices at five Tax and Customs Administration locations in Apeldoorn, the Netherlands. This concerns a performance contract with a 10-year term and an option to renew for another 5 years. The contract is valued ... Read More »

Customs continues to surpass revenue collection targets

revenue

KINGSTON: Even though its Automated System for Customs Data (ASYCUDA) World project is not yet fully implemented, vigilance on the part of the Jamaica Customs Agency led to the recent detection of attempts by at least three car dealers to circumvent the system and defraud the Government of revenue. The web-based application allows clients to undertake e-transactions such as the ... Read More »

China’s fiscal revenue rises 11.4% to $173.2bn in Nov

revenue

BEIJING: China’s fiscal revenue rose 11.4 percent year on year in November, quickening from an 8.7-percent rise seen in October, the Ministry of Finance said on Monday. The revenue stood at 1.1 trillion yuan ($173.2 billion), boosted by a rise in revenue collected from securities transactions and higher consumption tax revenue, according to a statement on the ministry website. Revenue ... Read More »

Turkish business women role models for Pakistanis: Marvi

marvi memon

ISLAMABAD: Benazir Income Support Programme (BISP) Chairperson Marvi Memon has said Turkish businesswomen are role models for Pakistani women. Marvi, during an interview with Turkish ‘Anadolu’ news agency, said that Turkish investors could help raise new businesses from poverty in Pakistan and empower women. She said that the $1.02 billion BISP is a fund to provide cash to 5.2 million ... Read More »

Mobile banking controls in Zimbabwe financial sector

mobile banking

HARARE: A comprehensive market assessment of retail financial services in Zimbabwe shows that mobile money operators are now dominating the finance sector. Banking activities appear to be on the decline due to workers’ low income and high unemployment in Zimbabwe. Key findings of the Making Access Possible (Diagnostic) launched in the capital today shows that mobile money operators were the ... Read More »

China’s new energy vehicle production rises 600% YoY in Nov

car

BEIJING: China’s production of new energy vehicles surged by 600 percent year on year in November thanks to government support. Total production in November stood at 72,300 units, the Ministry of Industry and Information Technology said Monday in a statement. During the month, output of pure electric passenger vehicles soared 700 percent from a year earlier to 30,000 units and ... Read More »

Cybersecurity market growing in China

cybersecurity

BEIJING: Rising concerns over Internet security for Chinese companies is creating a growing market for data safety providers. Qi Xiangdong, president of Chinese anti-virus software supplier Qihoo 360 Technology, believes the best times for cybersecurity companies are about to come. “As the Internet is widely used in various sectors, an increasing number of companies are moving sensitive data online. Demand ... Read More »

US wood furniture imports decline 1% from China

WOOD FURNITURE

WASHINGTON: The value of US wooden furniture imported in August was unchanged from the previous month at US$1.44 billion. Year-to-date imports were 11% higher than in August 2014. The share of various suppliers shifted slightly in August. US wood furniture imports from China declined by 1% to US$678.8 million or 47% of total imports. Vietnam’s import share continued to grow. ... Read More »