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South Korea’s coal imports rise 3.1% YOY

thermal coal

SEOUL: South Korea’s coal imports rose 3.1 percent in November from the same month a year earlier, customs data showed on Tuesday. Total coal imports are composed of steam coal for power generation and coking coal for steel production. Read More »

100 textile millers announce to close unites

Textile

LAHORE: The All Pakistan Textile Mills Association (Aptma) has revealed that as many as hundred mills have announced to close their units if the federal government fails to address commercial non-viability and complete gas suspension. Aptma Punjab Chairman Aamir Fayyaz, addressing a press conference after holding a general body meeting of the association, said that the association will call a conference ... Read More »

Abu Dhabi authorities arrest woman with 13kg cocaine

ARRESTED

ABU DHABI: The Abu Dhabi Police, in coordination with the Anti-Narcotics Federal Directorate-General at the Ministry of Interior, arrested an African transit passenger in possession of 13kg of cocaine that she attempted to smuggle through Abu Dhabi Airport. The woman stashed the narcotics in secret compartments inside weight plates and clothing buttons. According to Brigadier Dr Rashid Mohammed Borshid, Head ... Read More »

India’s palm oil imports rise 10% in Nov 2015

palm oil

NEW DELHI: India’s palm oil imports rose by about 10 per cent to 8,73,592 tonnes in November on account of sluggish global prices and zero export duty by Indonesia and Malaysia, industry body Solvent Extractors Association (SEA) said today. India, the world’s leading vegetable oil buyer, had purchased 7,96,587 tonnes of palm oils in November last year. To curb cheaper ... Read More »

India’s import of vegetable oils increase by 13% in Nov

veg oils

NEW DELHI: Import of vegetable oils is up by 13% in November according to data complied by the Solvent Extractors’ Association of India. Import of vegetable oils during November 2015 is reported at 1,342,435 tons compared to 1,189,934 tons in November, 2014, consisting of 1,337,936 tons of edible oils and 4,499 tons of non-edible oils- up by 13% mainly due ... Read More »

Japan stocks slip 0.7% to 1,517.70 as

fall

TOKYO: Japanese stocks fell for a second day, with the Topix index headed for its lowest close in about two months, as investors count down to the first U.S. interest-rate increase in almost a decade. Banks were the biggest drag. The Topix slipped 0.7 percent to 1,517.70 as of 12:42 p.m. in Tokyo, adding to Monday’s 1.4 percent drop and ... Read More »

Brazilian imports of steel sheet products fall 46% in Nov

carbon steel sheet

BRASÍLIA: Brazilian imports of carbon steel sheet products in November reached 39,154 mt, or 46% below the 72,491 mt imported in the same period last year, data from the foreign trade ministry showed Monday. Imports of hot-rolled coil in the month were 6,653 mt, 13.2% above the 5,876 mt imported in November 2014. Cold-rolled imports dropped 52.6% to 14,804 mt ... Read More »

Hong Kong stocks rise for first time in nine days

employement rises

HONG KONG: Hong Kong stocks climbed for the first time in nine days, narrowly avoiding the benchmark index’s longest losing streak in three decades. The Hang Seng Index rose 0.4 percent to 21,395.48 as of 10:50 a.m. in Hong Kong, reversing a 0.4 percent slide. The gauge fell 5.2 percent over past eight days, and another drop would mark the ... Read More »

India’s coal imports set to fall for first time in 5 years

imports of coal

NEW DELHI: India’s annual coal imports are set to fall for the first time in five years as domestic output surges under Prime Minister Narendra Modi’s push to expand domestic mining and eventually stop thermal coal imports by 2017. Shipments into the world’s third-largest coal importer nearly halved in November versus a year ago and should decline this month, leading ... Read More »

52.8MW being produced thru wind power project

wind

ISLAMABAD: Federal Minister for Water and Power Khawaja Asif has claimed that the Sapphire Wind Power Project, after a delay of more than four year, has started producing 52.8MW electricity. The minister said that achieving commercial operation by Saphire is an excellent example and can be showcased as model for other to follow. He said that the Pakistan’s southern corridor ... Read More »

ADB to give Pakistan $1.5b loan for infrastructure

ADB

ISLAMABAD: Asian Development Bank (ADB) Country Director Werner Leipach has called on Finance Minister Ishaq Dar and apprised him of the progress of the on-going portfolio of the bank in the country and plans relating to financing of projects in 2016. The ADB country director said that the ADB’s total co-financing for Pakistan stood around $1,050 million ($1.050 billion) including ... Read More »

Addl Commissioner-IR Tariq’s performance allowance restored

FBR 1

ISLAMABAD: The performance allowance in respect of Muhammad Tariq Jamal Khattak, a BS-19 officer of Inland Revenue Service, has been restored. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the officer, presently posted as Additional Commissioner-IR, Regional Tax Office, Islamabad, has been restored with effect from November 30. Read More »

Businessmen show concerns over rising public debt

ICCI president Shiekh Atif

ISLAMABAD: Businessmen in a meeting at Islamabad Chamber of Commerce and Industry (ICCI) showed concerns over the trend of consistent rise in public debt of the country and called upon the government to arrest the rising debt. They said that due to increasing debt every Pakistani now owed a debt of more than Rs 101,300. ICCI President Atif Ikram Sheikh, ... Read More »

PCSIR to set up state-of-the-art laboratory in Faisalabad

FCCI 13

FAISALABAD. World Class and state-of-the-art PCSIR (Pakistan Council for Scientific and Industrial Research) Laboratory will be set up in Faisalabad with an estimated cost of Rs.500 million, disclosed Dr. Shahzad Alam chairman PCSIR. Addressing a meeting of the Faisalabad Chamber of commerce and Industry (FCCI) here today Dr. Shahzad Alam, Chairman PCSIR told that this lab is expected to be ... Read More »

US border agents arrest man with meth near I-5 checkpoint

methseized

SAN CLEMENTE: San Diego Sector Border Patrol agents arrested a 35-year-old man on Friday morning who had bundles of methamphetamine stashed inside the trunk of his car. At approximately 9 a.m., agents initiated a vehicle stop on a 2008 Chevrolet Cobalt near the Border Patrol checkpoint on Interstate 5. As agents questioned the driver, their K-9 alerted to the rear ... Read More »

US customs seizes more than 9 pounds of heroin at Dulles airport

heroin

STERLING: U.S. Customs and Border Protection (CBP) Office of Field Operations (OFO) at Washington Dulles International Airport seized more than nine pounds of heroin from a Guatemalan man Friday that was concealed inside plastic bags labeled as oatmeal powder. The man, who requested entry as a courier on business, arrived on a flight from Guatemala. As a courier, he was ... Read More »

Nigeria customs arrests Senegalese woman with cocaine at Seme border

nigeriacustoms

ABUJA: A 45-year-old Senegalese woman, Fatou Sall, has been arrested by officers of the Nigeria Immigration Service, NIS, Zone A, attempting to cross the Seme border with cocaine, Today online reported on Monday. The suspect that hid the drugs in her private part was intercepted by curious Immigration officers who were suspicious about her nervous posture at the border. The ... Read More »

Argentina to remove export taxes on some agric products

argentina

BUENOS AIRES: Argentine President Mauricio Macri said Monday that his government will eliminate export taxes on some agricultural products, dismantling one of his predecessor’s key economic policies. Mr. Macri said that export taxes would be eliminated for corn, wheat and meat, while his government would reduce taxes for soybean exports. Mr. Macri said that the measure would boost agricultural production. ... Read More »

Turkey cuts Russian gas imports as tensions rise

Russian top military officials speak to the media in front of an aerial images they say are oil trucks near Turkey’s border with Syria displayed by the Russian Defense Ministry at a briefing in Moscow, Russia, Wednesday, Dec. 2, 2015. The Russian Defense Ministry invited dozens of foreign military attaches and hundreds of journalists to reveal what they said were satellite and aerial images of thousands of oil trucks streaming from the IS-controlled deposits in Syria and Iraq into Turkish sea ports and refineries. Russian Deputy Defense Minister Anatoly Antonov accused Turkish President Recep Tayyip Erdogan and his family of personally profiting from the oil trade with the IS. (AP Photo/Vladimir Kondrashov)

ANKARA: The United States strongly denied Wednesday a Russian claim that the Turkish government buys smuggled Syrian oil from the Islamic State terrorist (IS) group. In a televised speech in Ankara Thursday, Turkey’s President Recep Tayyip Erdogan said he had “proof” of Russia’s involvement with the Islamic State, adding that he would “reveal it to the world”, according to newswire ... Read More »

Philippine: 900,000-MT rice imports due in 2016

Philippine rice imports

MANILA: The country may see as much as 900,000 metric tons (MT) of rice imports in the first half of 2016 alone, which includes the 500,000 MT contracted this year and additional 400,000 MT the Philippine government is eyeing to secure by January. Depending on how the dry weather affects the country’s rice production, the National Food Authority (NFA) said ... Read More »