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Author Archives: CT Report

Six development projects worth Rs87b approved for Punjab

Punjab Government

LAHORE: The Provincial Development Working Party (PDWP), in its 18th meeting of current fiscal year 2015-16, has approved six development projects of different sectors worth Rs86.946 billion. P&D Board Punjab Chairman Muhammad Jahanzeb Khan presided over the meeting, while provincial Secretary P&D Iftikhar Ali Sahoo, members of the Planning & Development Board, provincial secretaries concerned and other senior representatives of ... Read More »

SECP amends conditions of granting licence to NGOs


ISLAMABAD: In a bid to minimise ambiguities, the Securities and Exchange Commission of Pakistan (SECP) through a circular has made further modifications in conditions regarding grant of licence to Non-Governmental Organisations (NGOs). The modifications were made for NGOs registered under Section 42 of the 1984 Companies Ordinance.  It has been felt that existing conditions were prone to misuse in certain ... Read More »

Safari operations suffer 30% reduction in revenue


HARARE: Safari operations this year suffered a 30% reduction in revenue owing to, among other things, the continued ban on ivory hunting and the killing of the famous lion, Cecil, businessdigest has learnt. Safari Operators Association of Zimbabwe (Soaz) chairman Emmanuel Fundira told businessdigest that the continued ban of the importation of sport hunted elephant trophies from Zimbabwe imposed in ... Read More »

Turkey’s TiKA, Tevta join hands for promoting technical edu

TEVTA Chairperson

LAHORE: The Technical Education & Vocational Training Authority (Tevta) has joined hands with Turkish Cooperation and Coordination Agency (TiKA) for the promotion of technical education and vocational training system. Tevta Chairman Irfan Qaiser Sheikh said this while addressing the Authority’s officers after successful visit of Turkey. The TiKA will provide technical assistance to Tevta for the promotion of technical education ... Read More »

US drop in exports increase 3Q trade deficit

nz trade deficit

WASHINGTON: A drop in exports of petroleum and other U.S. goods increased the deficit in the broadest measure of U.S. trade in the July-September quarter. The Commerce Department said Thursday the current account deficit increased to $124.1 billion from $111.1 billion in the second quarter. The current account tracks trade in goods and services and investment flows. Cheaper oil weighed ... Read More »

Tea exports 7.25% increase by volume in 2015

prices increases

NEW DELHI: Tea exports have registered a 7.25 per cent increase by volume and a 4.2 per cent increase by value between April to October 2015, as compared to a year ago according to provisional data released by the Tea Board of India. The increase came at a time when tea production had suffered a marginal decline, standing at 946.97 ... Read More »

Indian cashew exports fall 31% in Nov 2015


KOCHI: A combination of factors like high cost of the imported raw cashew cut in export incentive and rise in wages in Kerala has pulled down cashew exports during this fiscal. The shipments have plunged 37 per cent in volumes and 31 per cent in value in November 2015 from a year ago. As per the data of The Cashew ... Read More »

Jordan’s Nepco says LNG import terminal back at full capacity


AMMAN: Jordan’s National Electric Power Company (Nepco) said its floating liquefied natural import terminal was back working at full capacity after adverse weather disrupted operations earlier this month. Nepco declared force majeure on the terminal on December 5 due to strong winds requiring the floating, storage and regasification unit (FSRU) to be moved away from the jetty, a spokeswoman for ... Read More »

Zambian Govt plans to launch EXIM bank to provide financial support

exim bank

LUSAKA: The Zambian government is planning to establish an export-import bank (EXIM bank) to provide financial support for trading companies. An EXIM bank is a government agency which provides insurance to protect exporters against losses from non-payment by foreign importers. The agency also works to promote exports, provides transport insurance, and finance for exporters. The Zambia Development Agency (ZDA) has recommended ... Read More »

Police seizes 62.5kg of cannabis at Bouley Bay


PARIS: Two Frenchmen have been jailed for importing drugs with a street value of £1.2m into Jersey. Police seized 62.5kg (9st 8lbs) of cannabis at Bouley Bay as a result of what they called a “long-term intelligence led operation”. At the Royal Court, Emmanuel Halais, 38, was sentenced to six-and-a-half years in prison and Emmanuel Gautier, 28, to five-and-a-half years. ... Read More »

FDI up by 8.7% to $540.2m in five months


KARACHI: The country’s foreign direct investment (FDI) surged by 8.7 per cent in the first five months of 2015-16 on a year-on-year basis. According to statistics released by the State Bank of Pakistan (SBP), Pakistan received FDI of $540.2 million in July-November, which is $43 million higher than the FDI received in the same five-month period of the preceding fiscal ... Read More »

China sees high prices to import cherries


BEIJING: At the Nanjing fruit and vegetable market 1,600 tons of fresh produce have been traded in 2015 so far. Seasonal fruits such as apples, citrus and pears are selling at low prices. It is expected that prices go up in the weeks towards the Chinese New Year and Spring festival. However, sudden oversupply could bring prices down. Cherries and ... Read More »

China launches toilets loaded with Wi-Fi, ATMs TV screens

Modren toilet

BEIJING: The world’s largest economy has launched the latest toilets loaded with Wi-Fi, ATM and television screens in a bit to overhaul its public sanitation system. People don’t usually like to linger in public restrooms; in China, with the squat toilets, shortage of toilet paper, and sometimes unsanitary conditions, the bathroom experience can be daunting. Now, high-tech restrooms could turn ... Read More »

Now bed can protect you in earthquakes

earthquake bed

BEIJING: Now you do not need to worry when earthquake will rattle your city or damage your house as scientists have made a bed that will protect you in disastrous situation. An animated video showcases a series of designs for a bed that protects its slumbering occupants during a quake – but it may not be the bed of choice ... Read More »

India makes on import bill due to fall in crude prices


MUMBAI: The gains India has been making on its import bill due to a steep fall in crude prices may be partially offset if the dollar strengthens more after the US Federal Reserve raised key rates after nine years, and indicated there would be more such increases in the future. Analysts said that a lot of the dollar appreciation is ... Read More »

Import duty increases 2.5% on aluminium sector in 2015


NEW DELHI: The possibility of increase in import duty on aluminium by 2.5 per cent this year is “very bleak” despite the Mines Ministry pushing the case. “Although Mines Ministry has written to Finance Ministry to raise import duty by 2.5 per cent, the chances of this happening in 2015 are very bleak,” a source said. Confirming the development, a senior ... Read More »

New ‘human species’ discovered who lived until 14,000 years ago

Optimized by JPEGmini 0x10e324f2

BEIJING: Anthropologists have revealed that the newly found species of early human who died out more than 70,000 years ago may have survived living among modern humans until around 14,000 years ago. The anthropologists discovered a primitive-looking thigh bone among the remains of a group of enigmatic ‘modern’ humans known as Red Deer Cave people in China. While skulls found ... Read More »

Costa Rica imports avocados from Peru


COSTA RICA: Avocado imports, since June 2015 and after the ban on Mexican Hass avocado, have mainly concentrated in Peru. Costa Rica has imported 3.26 million dollars in avocados between June and October this year, according to preliminary data from the National Production Council (CNP). Arlyne Alfaro, director of the NPC Agricultural Information, advanced some data, since the report is ... Read More »

Discos give CPPA Rs52b to control circular debt


ISLAMABAD: In a bid to keep circular debt at Rs300 billion, the power distribution companies (Discos) have deposited Rs52 billion in the accounts of Central Power Purchasing Agency (CPPA). This was revealed at a public hearing, presided over by Nepra Chairman Brig (R) Tariq Sadozai, on a petition of Islamabad Electric Supply Company (Iesco) for a multi-year tariff held in ... Read More »

Automobile imports plunge 41.46% in first 4 months of fiscal year


KATHMANDU: Automobile imports plunged by 41.46 percent in the first four months of the fiscal year as customs points remained shut due to prolonged Tarai unrest and India-imposed trade blockade. Imports of vehicles and parts from India dipped 43.3 percent in the period between mid-June and mid October compared to the same period a year ago. Around 90 percent of ... Read More »