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Author Archives: CT Report

Islamabad Expressway ‘almost’ completed

Islamabad Expressway widening project

ISLAMABAD: The Expressway in the federal capital has almost been completed as two more lanes have been added to it. After completion of additional lanes, loops and carpeting lane marking, work is in full swing to make I8 bridge operational within four days whereas final finishing are being given plantation and landscaping of the signal free expressway project. Capital Development ... Read More »

Urbanisation giving Pakistan potential to boost economy: WB


ISLAMABAD: A new World Bank report has said that urbanisation is giving Pakistan potential to transform its economy to join the ranks of richer nations. However, the country, like others in South Asia, has so far struggled to make the most of that opportunity, said “Leveraging Urbanisation in South Asia: Managing Spatial Transformation for Prosperity and Livability” report, which was ... Read More »

FBR directed to obtain proof of payment for non-LC imports


ISLAMABAD: Finance Minister Mohammad Ishaq Dar has directed Federal Board of Revenue (FBR) to take necessary measures to curb illegal trading practices impacting foreign exchange market in country. The minister, in particular, asked FBR to obtain from importers, the proof of payment and origin of payment for non-LC imports at the time of custom clearance. At the same time, FBR ... Read More »

SAARC countries need to promote inter-economic cooperation: Arjun Bahadur


LAHORE: South Asian Association for Regional Cooperation (SAARC) Secretary General Arjun Bahadur Thapa has underscored the need for promotion of trade and economic cooperation between the member states of SAARC. He was talking to the Lahore Chambers of Commerce and Industry (LCCI) Senior Vice President Almas Hyder and Vice President Nasir Saeed. SAARC secretary general said that he feels great ... Read More »

Dar  hails MPCL’s plans to add 200 MMSCF gas to the system


ISLAMABAD: Finance Minister Senator Mohammad Ishaq Dar met a delegation of Mari Petroleum Company Ltd (MPCL) led by its Managing Director Lt Gen (r) Nadeem Ahmed. At the outset, Lt Gen (r) Nadeem Ahmed thanked the Finance Minister for the government’s policies as well as his role which had helped turnaround the company. He briefed the Finance Minister about the ... Read More »

Ecuador’s inflation rate falls to 3.40% in Nov

inflation eases

QUITO:  Ecuador’s inflation rate fell to 3.40 percent in the 12 months to the end of November, the government’s statistics agency said on Friday. Consumer prices rose 0.11 percent from the previous month, the agency added. Ecuador closed 2014 with an inflation rate of 3.67 percent and forecasts that consumer prices will rise 3.9 percent this year. Following is a ... Read More »

Inflation soars to 1.1% in Nov 2015


MANILA:  Inflation kicked up to 1.1 percent in November from a record low of 0.4 percent in October due to a sharp increase in food prices, the Philippine Statistics Authority (PSA) reported yesterday. Last month’s inflation fell within the 0.4 to 1.2 percent forecast of the Bangko Sentral ng Pilipinas (BSP) as inflation likely bottomed out at 0.4 percent in September ... Read More »

Japan to reduce plan issuance of Govt bonds for fiscal 2015

japan flag

TOKYO:  Japan will reduce its planned issuance of government bonds for fiscal 2015 by about 450 billion yen ($3.63 billion) as part of efforts to improve the nation’s primary balance. The cut from the initially planned 36.9 trillion yen in Japanese government bonds is part of the supplementary budget proposal that the cabinet will consider in mid-December. Greater-than-expected tax revenues ... Read More »

Jamaica Customs Agency sets to handle increase in shipments

jamaica custom

LONDON: The Jamaica Customs Agency says it is in a full state of readiness to handle the expected increase in cargo shipments during the festive season. Senior Director of the entity’s Kingston operations, Selina Clarke-Graham, said the agency is already seeing an uptick in the volume of imported items and measures have been implemented to facilitate the clearance of goods. “We ... Read More »

IDC expects growth for smartphone shipments in 2015


WASHINGTON: According to new figures by the International Data Corporation (IDC), a market analysis and research firm, 2015 will be the first year where we will see only a single-digit growth for smartphone shipments. The firm predicts a slow growth of only 9.8% this year, equating to just 1.43 billion units. Regarding the reason for such a prediction, IDC mentions ... Read More »

IBM targets $1b in revenues in 2016


WASHINGTON: International Business Machines Corporation IBM is targeting $1 billion in revenues in 2016 from its cloud infrastructure business, SoftLayer, up from $700 million to $800 million expected for 2015, as per Bloomberg, which cited sources familiar with the matter. Bloomberg puts it as an “ambitious goal” that highlights the company’s attempts to grow its cloud business amid stiff competition ... Read More »

Indiana beats Nov revenue target by $21.3m


NEW DELHI: Indiana beat its November revenue target by $21.3 million, or 2.1 percent, as Hoosiers last month earned more money than state officials expected but spent less of it. The $1.055 billion in total monthly tax collections also outpaced last November by $30 million, or 2.9 percent. That helped push state revenue in the current budget year, which began July ... Read More »

Ministry to promote flow of FDI into agricultural sector

fdi inflow

HANOI: The Ministry of Agriculture and Rural Development was drafting policies to promote the flow of foreign direct investment (FDI) into the agricultural sector. Under a draft decree which was now raised for public comments on the ministry’s e-portal, the ministry proposed incentives and support to be given to foreign investors who invested in the farming sector. According to the ministry, ... Read More »

Ministry of Construction expected total social housing space develop in 2015

ministry of construction

HANOI: The Ministry of Construction expected the total social housing space developed this year to cross 1 million square metres, and reach 2.8 million sq.m in total. To date, 62 projects have been registered to be converted from commercial housing projects to social housing projects with a total of more than 41,700 apartments, while 88 projects scaled down the area ... Read More »

Emaar, Bitexco to construct $1.34b urban area in Vietnam


HCM CITY: The Dubai-based Emaar Properties PJSC and local property developer Bitexco have been assigned the task of developing a new urban area in HCM City. The project, worth at least VND30.7 trillion (US$1.34 billion), would cover 427ha on the Thanh Da Peninsula on the city’s east side. The construction would begin next year and the project’s first stage would be ... Read More »

Vietnam database of real estate market to develop


HANOI: A national database of the real estate market will be developed in an effort to provide basic market indicators with greater accuracy and improve the market transparency. This was the highlight of a recently issued government decree about the development, management and use of the housing and real estate market information system, which also includes information and technology infrastructure ... Read More »

Woodstock Chamber sells building, plans to move to city hall


NEW YORK: The Woodstock Chamber of Commerce has sold its building and will be moving into City Hall at the start of the New Year. Kathryn Loprino, president of the Chamber’s board of directors, said the move is a “huge relief” for the chamber. “It’ll just allow us to focus on membership and programs we can offer for them and ... Read More »

Santa Clarita Valley Chamber honors volunteer’s event


NEW YORK: Dignitaries and community leaders honored seven of Santa Clarita Valley’s “unsung heroes” Thursday during at the second SCV Community Volunteer Recognition Luncheon hosted by the Santa Clarita Valley Chamber of Commerce. Seven people who volunteer at various organizations in the valley were honored for their countless hours of community work. About 200 people were on hand for the ... Read More »

NCS starts trading on unlisted public company market


HANOI: About eight million shares of Noi Bai Cartering Service JSC (NCS) started trading on the unlisted public company market (UPCoM) on Wednesday. This followed the Ha Noi Stock Exchange’s permission that allowed 7,999,975 NCS shares to be listed on UPCom at a preference price of VND13,000 (US$0.57) each. With an experience of more than 30 years as a subsidiary of ... Read More »

Youngstown Chamber admits soliciting funds in capital budget process


NEW YORK: State lawmakers are distancing themselves from the Youngstown Warren Regional Chamber of Commerce at least when it comes to the capital budget process. Six state lawmakers including Senate Minority Leader Joe Schiavoni have received complaints that the Chamber has solicited funds to advocate or speak on behalf of certain groups. The arts in Youngstown are viewed by many ... Read More »