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Nepal cosmetic industry decreases by conflict


KATHMANDU: Sales and production of beauty products have been affected by the ongoing Tarai unrest and India’s unofficial trade blockade. Imports from India and China, the major sources of beauty products for Nepal, are down; and domestic production has come to a halt due to shortages of raw materials and fuel. Local manufacturers said that they had not been able ... Read More »

Indian gold imports likely to touch 1,000 tonne this year, up 11%


NEW DELHI: Buoyed by sharp fall in gold prices globally, India is likely to see a jump of 11 per cent in imports of the metal to 1,000 tonnes this year, says a trade body. According to the All India Gems and Jewellery Trade Federation, the world’s second-biggest gold consumer had imported around 900 tonnes in 2014. “Gold import is ... Read More »

Huawei smartphone shipments top 100 mln in 2015

Huawei 2

BEIJING: Chinese tech-giant Huawei said its smartphone shipments have topped 100 million this year, breaking the record among domestic players and making it the world’s third biggest mobile brand following Samsung and Apple. The market share of Shenzhen-based Huawei Technologies Company has risen to 9 per cent globally and surpassed 15 per cent in China, leading for six consecutive months, ... Read More »

Total imports of mobile phones touch $307.744m in 5 months


ISLAMABAD: The total imports of mobile phones in the country has touched US $ 307.744 million mark during first five months of this fiscal year, showing 8.79 percent increase. During same period last year (July-November 2015-16), the mobile phones import was US $ 282.875 million, a data issued by Pakistan Bureau of Statistics (PBS) revealed. This single digit growth in ... Read More »

Morocco’s tourism revenues to increase by 2% in 2016


RABAT: Morocco’s tourism revenues will increase by two percent in 2016 to reach 60 billion dirhams, said this Tuesday Tourism minister, Lahcen Haddad. Arrivals will reach 10.6 million in 2016, a 3.8 percent rise, the minister added during MAP weekly forum. The impact of global context on tourism sector in Morocco was ‘mitigated’ in 2015, noted the minister, saying that ... Read More »

Petroleum imports fall 41.21% in 5th months of current fiscal year


ISLAMABAD: The import of various petroleum group into the country witnessed declined of 41.21 percent during the first five months of the current fiscal year compared to the corresponding period of last year. The overall import of petroleum group into the country were recorded at 3,594.354 million during July-November (2015-16) compared to the imports of 6,114.332 million in July-November (2014- ... Read More »

Sales tax revenues continue to grow in Nov


WASHINGTON: Strong growth in sales tax revenues continued in Trousdale County during November, according to figures released by the state last week. Trousdale County collected $270,755.39 in state sales tax and $81,316.11 in local sales tax during the month. Those numbers compare to $212,543.45 and $63,155.76 in November 2014. The county also collected $38.13 in income tax, $1,381.16 in inheritance tax, ... Read More »

 Oman, Jordanian to discuss economic ties


MUSCAT: Jordanian and Omani officials, on Tuesday, opened a meeting to discuss prospects to strike closer ties and cooperation between the two countries in various domains, especially in the economic sphere. The joint Jordanian-Omani committee convened its 9th session with the aim of advancing relations and build on the outcome of the last edition of the session which was held ... Read More »

Bureau of Customs revenue declines in Nov 2015


LONDON: The Bureau of Customs failed to meet its collection target for November, largely on account of the holidays and traffic schemes in place during the Asia Pacific Economic Cooperation (APEC) Summit. The bureau registered total collections of P29.1 billion in November or 27.4-percent off the P40-billion target and 6.9-percent down from P31.2 billion a year earlier. The numbers for November ... Read More »

Iraq’s southern oil exports reach at 3.45m bpd

oil export

BAGHDAD: Iraq’s southern oil exports have been running at 3.45 million barrels per day (bpd) so far in December and could reach a monthly record by the end of the year, according to Basim Abdul Kareem, deputy chief for operations and production at the state-run South Oil Company (SOC). Southern crude exports should hit a record daily average, “if everything ... Read More »

Revenue from tax collection jump 25% in 2015


WASHINGTON: Revenue from tax collection jumped 25 per cent in 2015, government officials revealed yesterday, saying the tax department has collected about $1.3 billion on the back of better compliance and awareness among the private sector. At a seminar in Phnom Penh, Kong Vibol, director of the General Department of Taxation (GDT), said the increase was not a result of ... Read More »

Vietnamese garment exports forecast to top $27b


HANOI: Vietnamese textiles and garment exports will possibly hit US$27.1 billion this year, an increase of more than 10 percent from 2014, local media reported. Local producers shipped $20.63 billion worth of textile and garment products in the first 11 months, up 8.9 percent from the same period last year, according to the latest figures released by Vietnam Customs. The ... Read More »

South Korea ready to increase diversity of oil suppliers


SEOUL: South Korea is eager to increase the diversity of its oil suppliers by looking at U.S. and Iranian supplies as more exports from those countries become available, the South Korean Ministry of Trade, Industry and Energy said on Wednesday. The country welcomed the recent repeal of the 40-year-old crude export ban in the United States and the scheduled lifting ... Read More »

Thai exports seen down for 11th straight month


BANGKOK: Thailand’s customs-cleared exports likely dropped for an 11th straight month in November, while industrial output fell again due to weak demand at home and abroad, a Reuters poll showed. According to the median forecast from the poll of 13 analysts, exports contracted 5.1 percent from a year earlier. October shipments dropped 8.11 percent. Exports, equal to more than 60 ... Read More »

Kenya Revenue Authority seizes 8 containers of illegal imports sugar


NAIROBI: Officials from the Kenya Revenue Authority Tuesday impounded eight containers of contraband sugar worth Sh20 million in a container freight station in Mombasa. Four of the 20-foot containers had been declared as handbags and belts while the other four had been declared as lubricants. Upon being opened, the containers were found to contain about 520 bags of sugar weighing ... Read More »

Tonga’s official foreign reserves rise


WELLINGTON: Tonga’s official foreign reserve has peaked in the final month of the year at 145 million US dollars. The Reserve Bank says the amount in the foreign reserve rose by more than 23 million US dollars compared to the same period last year. Radio Tonga says the amount is equivalent to nine months worth of toal imports, which is ... Read More »

Kinnow exports likely to drop by 150,000 tonnes in Dec


KARACHI: The export of kinnow has started from December 1, however significant drop in exportable surplus is being observed this season in the export volume, which is the lowest. According to Pakistan Fruit and Vegetable Association (PFVA) Chairman Waheed Ahmed, the production of kinnow is expected to be 165,000 tonnes, but due to climatic hazards and unfavourable weather conditions, it ... Read More »

Wheat exports registers 100% increase in last five months


ISLAMABAD: Wheat exports from the country during first five months of current financial year registered 100 percent increased as compared to exports of corresponding period of last financial year. During the period from July-November, 2015, about 1,181 metric tons of wheat worth US$ 0.248 million exported which was 100 up as compared to same period of last year. Meanwhile, exports ... Read More »

New Zealand’s 5 major banks increase profits of $1.7b

5 major banks

WELLINGTON: The competitive lending environment of the first half of the year intensified in the three months ended September as banks offered record-low interest rates to attract customers. A PwC report prepared by partner Sam Shuttleworth said the low interest rate environment strained lending margins, with more customers moving to lower-margin fixed-rate mortgages. New Zealand’s five major banks – ANZ, BNZ, ... Read More »

Customs seizes 3.5 kgs of gold biscuits at airport


NEW DELHI: A passenger, arrived at the Karipur international airport from Abu Dhabi in an Etihad Airways flight has been arrested for smuggling 3.5 kgs of gold biscuits worth about 90 lakhs, Air Customs Intelligence officials said today. The 30 gold biscuits have been found concealed in the battery compartment of an emergency light during checking of baggage last night, ... Read More »