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Author Archives: CT Report

Montreal Port recieves 1st ship of 2016

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OTTAWA: A bulk carrier called the Vigorous is the first ocean-going vessel to reach the Port of Montreal without a stopover in 2016. The Vigorous left from Sohar, Oman, on Nov. 30 and crossed the Montreal port’s downstream limits at 5:21 Friday morning. The ship’s captain will receive the gold-headed cane award, which has been presented since 1840 to the ... Read More »

Customs officials confiscates 2 rhino horns at Int’l airport

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CAPE TOWN: Customs officials confiscated two rhino horns worth R3-million at the Oliver Tambo International Airport last week. The horns weighed approximately 10,5 kg and are valued at more than R3-million. Rhinoceros are a Cites-protected species. Customs officials found the horn in a shipment of taxidermy that had been profiled for examination at a well-known cargo forwarding company. The company ... Read More »

Iranian industrial exports up 5% in 8th month of Iranian calendar

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TEHRAN: Valiollah Afkhami-Rad, the director of Trade Promotion Organization of Iran (TPOI), said Iran’s industrial exports grew by 5 percent in the first eight months of the current Iranian colander year (March 21- November 21) compared to the same period last year. Also, in the first nine months of the current Iranian calendar year (March 21-December 21), the country’s non-oil ... Read More »

Russia plans $15b arms exports in 2016

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MOSCOW: Russia plans more than $15bn arms exports in 2016 Russia exported $15 billion worth arms this year and plans to keep this volume in 2016. “The plan for 2015 has been completed with the production of military equipment delivered with a total of $15.2 billion and deliveries are continuing,” the official from the Russian Federal Service for Military-Technical Cooperation. ... Read More »

MSC restarts service to enter Iran port

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TEHRAN: Iran’s media reported on Saturday that the Swiss shipping line MSC has started calling at the country’s southern ports after a hiatus of six years. Iran reported that an MSC container ship has docked at Shahid Rajaie port in the Persian Gulf coastal city of Bandar Abbas. Ehrahim Idani, the director general of Ports and Maritime Organization of Hormozgan ... Read More »

Russia wheat export prices flat in last week

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MOSCOW: Russian wheat export prices were flat in the last week, reflecting rouble currency volatility and weak global benchmarks, analysts said on Tuesday. The rouble, trading around lows for the year against the dollar due to depressed oil prices, has lost 8 percent this month and triggered a rise in Russia’s wheat export tax. Black Sea prices for Russian wheat ... Read More »

Ukrainian PM signs decree on special duty rates for Russian imports

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MOSCOW: The decree stipulates that starting from January 2, 2016 Ukraine will apply duty rates “as set by the Ukrainian Customs Tariff for all goods originating from Russia.” The regulation will be in place until December 31, 2016 or until Russia lifts restrictions on Ukrainian imports it introduced in January. Read More »

Indian e-commerce revenue likely to touch $38b in 2016

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NEW DELHI: The country’s e-commerce market is likely to touch $38 billion mark in 2016, a massive jump over the $23 billion revenues clocked by the industry in 2015, according to an Assocham study. “Increasing internet and mobile penetration, growing acceptability of online payments and favourable demographics have provided…the unique opportunity to companies to connect with their customers,” said the ... Read More »

US cotton export down 11% from last 4 week

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NEW YORK: USDA cotton export sales highlights for latest reporting week: Net Upland sales of 141,100 running bales were up noticeably from the previous week, but down 11 percent from the prior 4-week average. Increases were reported for Thailand (24,800 RB), China (21,900 RB), Turkey (15,300 RB), Colombia (14,900 RB), Taiwan (12,100 RB), Mexico (11,200 RB), South Korea (8,800 RB), ... Read More »

Dar chairs meeting to review progress on 1000 MW RLNG based power projects

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ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar chaired a meeting here Saturday to review progress regarding the 1000 MW (RLNG based) power projects, envisaged to supplement efforts aimed at filling the void in electricity demand and supply in the country. Shahid Khaqan Abbasi, Federal Minister for Petroleum and Natural Resources, as well as senior officers of Ministries of Finance,  Water ... Read More »

Japan tax revenue growth estimates at 25-year high in 2016

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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 »

Russia bans imports of raw foods from Ukraine

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MOSCOW: Russia imposed a ban on the imports of agricultural produce, raw foods, and foodstuffs from Ukraine as of January 1, 2016. Prime Minister Dmitry Medvedev said on December 21 he had signed a resolution on the application of counter-sanctions to Ukraine as of the beginning of 2016. “A ban on the import of agricultural products, raw materials and foodstuffs ... Read More »

Taiwan iron ore imports down 6%: Customs data  

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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

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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

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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

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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

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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

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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

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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 »