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Vietnam’s economy wants to grow faster in next 5 years

economy-2014

HANOI: Viet Nam’s economy would grow faster in the next five years, driven by a number of free trade agreements, low commodities prices, foreign direct investment and institutional reform, experts said. Gross domestic (GDP) was expected to average between 6.5 per cent and 7 per cent from 2016 to 2020, up from the average rate of 6 per cent of ... Read More »

Malaysia, India export-import banks ink MoU

sign

KUALA LUMPUR: Export-Import Bank of Malaysia Bhd and Export-Import Bank of India have signed a memorandum of understanding (MOU) to strengthen cooperation in financing, guaranteeing and other financial mechanism to support projects of interests to both the banks. In a statement on Wednesday, Export-Import Bank of India said both institutions were already cooperating with each other under the umbrella of ... Read More »

Departments directed to ensure timely completion of projects

Government

SUKKUR: The officials of education, health, sports, roads and buildings departments have been directed to ensure timely completion of on-going projects as per the guidelines of Sindh government. Shahzad Fazal Abbasi, Deputy Commissioner, Sukkur, Monday issued these directives while reviewing the pace of work on-going projects. The deputy commissioner also directed the officers not to compromise on quality of work ... Read More »

Shipping intelligence report of KPT

kpt-497x330 (1)

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier): Berth No Ship Working Agent Berthing Date OP-I Quetta D. Crude Oil PNSC 14/12/15 OP-II Orient Star L. Ethanol Wilhelmsen 12/12/15 OP-III Stolt Stream D. Chemical Asia Marine 14/12/15 ALONG SIDE (East Wharves): 1/2 ... Read More »

Vietnamese tra fish exports to face hard US assessments

vn tra fish

HANOI: The Vietnamese tra fish exports and those of many other Siluriformes fish will have to struggle with the American Department of Agriculture (USDA)’s final inspection rule, said Truong Dinh Hoe, General Secretary of the Viet Nam Association of Seafood Exporters and Producers (VASEP). He made this statement in a VASEP’s meeting on Tuesday. “The USDA’s final rule is contrary ... Read More »

Vietnam’s exports to grow over 10% during 2021-2030

exports

HCM CITY: Viet Nam’s exports will grow by over 10 per cent between 2021 and 2030, little changed from the previous five years, according to a recent trade forecast by HSBC. The report says FDI inflows have been very strong in recent years, helping the country diversify its export base and gradually move into higher value sectors, most notably ICT equipment, ... Read More »

Ireland Ingersoll Rand shares lost 6.62% during past week

ingersoll rand

DUBLIN: Ingersoll-Rand plc (Ireland) (NYSE:IR) has lost 6.62% during the past week and dropped 4.05% in the last 4 weeks. The shares are however, negative as compared to the S&P 500 for the past week with a loss of 2.94%. Ingersoll-Rand plc (Ireland) (NYSE:IR) has underperformed the index by 3.54% in the last 4 weeks. Investors should watch out for ... Read More »

Malaysia’s ringgit falls to three-week low

currency

KUALA LUMPUR: Malaysia’s ringgit fell to a three-week low on Monday as a new China index tracking the yuan against a basket of currencies spurred speculation the exchange rate will weaken as it shifts away from linking it to the US dollar. The move may put pressure on Asian currencies to depreciate as policymakers bid to keep exports competitive with ... Read More »

Import, export prices decline on lower fuel prices in Nov 2015

import export

WASHINGTON: According to the US Bureau of Labor Statistics, import prices fell 0.4% in November as compared to a decline of 0.3% in October 2015. The drop was mainly attributed to a decrease in fuel import prices. In November, fuel import prices fell 2.5%, continuing their downtrend. Petroleum product prices saw a decrease of 2.5%, whereas crude fell 3.6%. Fuel ... Read More »

Dr Tariq Ghani posted as Chief (OPS)

FBR 13

ISLAMABAD: Dr Tariq Ghani, a BS-19 officer of Inland Revenue Service, presently posted as Secretary (Welfare), Federal Board of Revenue (HQ), Islamabad, has been transferred and posted as Chief (OPS) (BTB), FBR (HQ), Islamabad, with immediate effect. The officer has also been assigned the ‘additional charge’ of the post of Chief (OPS) (HRM), FBR (HQ), Islamabad, till the posting of ... Read More »

New Zealand butter exports to Japan jump 139%

BUTTER

WELLINGTON: A butter renaissance is relieving a little of the pain farmers are feeling from low milk prices in a world awash with milk powder. Celebrity chef shows, the trend to eating natural products, and butter shortages, especially in Japan, meant New Zealand butter was in demand, said Fonterra managing director global ingredients Kelvin Wickham. “Margarine has got caught up ... Read More »

Philippine exporter wants to hit 9-10% export growth in 2016

exports

MANILA: Philippine exporters are pinning their hopes on continued reforms, trade agreements and the regional economic integration to boost the country’s export growth by 9 to 10 percent next year. This was despite the continued slump in exports in the past seven months. “We choose to be optimistic as we continue to seek ways to improve the way we conduct ... Read More »

China’s yuan dips to 4-year low

currency

BEIJING: China’s yuan fell to a four-year low on Monday after the central bank said the currency shouldn’t be measured by its moves against the US dollar alone, a statement that is being interpreted as a sign it will allow further declines. Exchange rates are a reflection of trade and investment with multiple countries and the market has to take ... Read More »

Thailand expects to export 9 mln tons of rice in 2016

rice

BANGKOK: Thailand’s Ministry of Commerce said on Monday it expects the country to export 9 million tonnes of rice in 2016, lower than the 10 million tonnes forecast for 2015. The ministry said dry weather, which hit several rice-growing provinces this year, would impact rice output next year. “It is expected that output will fall due to the impact of drought,” ... Read More »

Tauqeer, Abdur Razzaq made Addl Commissioners-IR

FBR 15

ISLAMABAD: Federal Board of Revenue has transferred/posted two Inland Revenue Service officers of BS-18 with immediate effect. Tauqeer Ahmad and Abdur Razzaq Khan, previously posted as Deputy Commissioners-IR, Regional Tax Office, Rawalpindi, have been transferred and posted as Additional Commissioners Inland Revenue (OPS) Regional Tax Office, Rawalpindi. According to the notification, the officers who are drawing performance allowance will continue ... Read More »

Microsoft to focus business with SMEs in Zimbabwe

MICROSOFT

HARARE: Microsoft will next year focus on doing business with small-to-medium enterprises (SMEs) in Zimbabwe, imploring them to leverage on technology in business operations. Official statistics show the informal market constitutes 75% of the economy, while unofficial statistics place that figure anywhere between 85% and 90%. Speaking to NewsDay on Wednesday, Microsoft sales director for sub-Saharan Africa and the Indian ... Read More »

Govt likely to hike gas tariff by 50% from Jan 1

gas

ISLAMABAD: The government is likely to increase gas tariff by 50 per cent from January 1, 2016. The gas tariffs will also be increased as the Oil and Gas Regulatory Authority (Ogra) has allowed the gas companies to charge consumers 1 per cent loss being incurred because of bad law and order and 1.5 per cent on account of non-gas ... Read More »

FDI to Uganda expected to fall by 5% in this year

fdi inflow

KAMPALA: Foreign Direct Investments (FDI) to Uganda are projected to fall by 5% this year in what experts say is a big blow to job creation for Ugandan workers and economic growth prospects. The dip is being attributed to delays in oil production, weak domestic and regional markets, and a slowdown in the global economy. Latest data from Bank of Uganda ... Read More »

Banks credit to private sector decreases by 20% to Rs78b

banking shares

KARACHI: The banks credit to private sector has decreased by 20 per cent to Rs78 billion from July to mid of November during the current fiscal year 2015-16. Commercial banks’ credit to the private sector, in terms of GDP, in Pakistan has witnessed a noticeable decline since financial year 2007-08, plunging from 27 per cent in fiscal year 08 to ... Read More »

Japan business confidence smooth in 2015

BUSINESS CONFIDENCE FLAT

TOKYO: Japan’s biggest manufacturers were in a cautious mood during the last quarter of the year, a central bank survey showed on Monday, despite a modest pick-up in the world’s number three economy. The Bank of Japan’s closely-watched Tankan report showed confidence among major manufacturers was flat at plus 12 in December from the previous quarter. The survey of more ... Read More »