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Author Archives: CT Report

Shrimp imports into Japan from Vietnam in Jan-Oct 2015

vn shrimp

HANOI:  Statistics from the International Trade Center (ITC) showed that Vietnam remained the leading shrimp supplier to Japan. It was followed by Thailand, Indonesia and India, respectively. Shrimp imports into Japan from Vietnam in Jan-Oct 2015, however, reported the year-on-year slump in both volume and value. The source also revealed that in the first 10 months of 2015, shrimp imports into ... Read More »

Woodside Petroleum approves $2bn gas development on Australia’s north west shelf

woodside

SYDNEY: Australia’s largest oil and gas company Woodside Petroleum on Friday announced it had approved a 2 billion U.S. dollars gas development on Australia’s north west shelf. Woodside and joint venture partners BHP Billiton Petroleum, BP, Chevron Australia, Japan Australia LNG and Shell will develop the 1.6 trillion feet of gas using subsea pipeline infrastructure to the existing Goodwyn A ... Read More »

Android smartphones leading global market with 81.2 % share

android

ISLAMABAD: Android-operated smartphones are leading the world with 81.2 per cent of global market share as around 1.16 billion such handsets will be shipped by December this year. The additional forecasts revealed as shipment volumes continue to slow across many markets, consumers will be enticed by both affordable high-value handsets as well as various financing options on pricier models. Vendors ... Read More »

Chinese Customs seizes 120k fake masks

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BEIJING: Customs officers in China’s commercial capital, Shanghai, have discovered 120,000 fake respiratory masks, supposedly made by US diversified manufacturer 3M Co, state media said on Wednesday. News of the seizure came as air pollution has engulfed the capital, Beijing, with authorities declaring a “red alert” there because of dangerously high levels of smog. Many people in China wear face ... Read More »

Vietnam’s customs department reviews import of oil products

vn customs

HANOI: Vietnam’s customs department is reviewing imports of oil products originating from fellow members of ASEAN this year to make sure they are legitimate and qualify for an import tax reduction, sources close to the matter said. Under the Association of Southeast Asian Nations free trade agreement, taxes on imports of oil products such as diesel, jet fuel and kerosene ... Read More »

Spain’s Inditex profits jump by 20% to $2.21bn in first nine months of 2015

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MADRID: Textile group Inditex increased profits by 20 percent in the first nine months of its fiscal year, from Feb. 1 to Oct. 31, in comparison with the same period of a year earlier, the company reported on Thursday. Inditex net profits reached 2.02 billion euros (2.21 billion U.S. dollars) from Feb. 1 to Oct. 31, with sales reaching 14.744 ... Read More »

UN report says world economy falls by 0.4% to 2.4%

economy decline

UNITED NATIONS: A United Nations report Friday said that the world economy has fallen below forecasts of even six months ago and will grow only modestly over the next two years due to cyclical and structural headwinds, including low commodity prices and stagnant investment. “Stronger and more coordinated policy efforts are needed to ensure robust, inclusive and sustainable economic growth, ... Read More »

Spain’s housing prices surge by 4.5% in Q3

employement rises

MADRID: Spanish housing prices rose by 4.5 percent in the third quarter of the year in comparison with the same period of a year earlier, according to data published on Thursday by Spain’s Statistical Office (INE). The figure meant the biggest increase since the last quarter of 2007, before the crisis had started. Prices of new houses increased by 4.3 ... Read More »

Japan’s Koizumi Group gets stake in Vietnam’s steel firm

VN

HANOI: Koizumi Group, a major wholesaler of housing equipment and materials in Japan, has acquired a 23 percent stake in Vietnamese-owned QH Plus, local media reported Thursday. The deal, whose value has not been disclosed, is expected to help Koizumi expand into Vietnam’s construction materials market. Founded in 2006, QH Plus is a known producer and trader of steel products and ... Read More »

ADB approves $300m loan to solve air pollution problem in Beijing

loan

MANILA: The Asian Development bank has approved its first policy-based loan of 300 million U.S. dollars to China to help address air pollution problem in Beijing. Part of the loan will also go to air pollution control programs in Tianjin municipality and Hebei province, both neighboring Beijing, said the bank on Thursday. The loan accompanies expected cofinancing from KfW development ... Read More »

Mepco completes 19 development projects

electricity theft

MULTAN: The Multan Electric Power Company (Mepco) has completed 19 development projects costing over Rs38 million during November. According to sources, the Mepco’s Project Construction Department has completed 19 high tension and low tension schemes with over Rs38 million during last month. Sources said over Rs13 million was spent on 11 KV Chak 17 AH feeder Khanewal, over Rs14 million ... Read More »

China car sales hit 2.5 million units in Nov

mexicocar

BEIJING: China’s car sales rallied 20 percent in November, the fastest rate this year, from a year earlier, helped by a 72 percent rise in purchases of sport-utility vehicles, the China Association of Automobile Manufacturers said yesterday. The overall car sales hit 2.5 million units last month, with passenger car sales soaring 23.7 percent to 2.2 million units, CAAM added. ... Read More »

Didi Kuaidi plans to sell cars through its platform

china

BEIJING: Didi Kuaidi is planning to sell cars through its platform, as the ride-hailing major seeks to diversify its business mix to more segments and sectors. The Beijing-based company said on Monday it will sell 200 new vehicles by Mercedes-Benz and Tianjin FAW Toyota Motor Co Ltd, on its platform on Saturday. Consumers can pay 40,000 yuan ($6,200) less to ... Read More »

KPT shipping movement report

kpt

KARACHI: Following were the movement of ships at Karachi Port during the last 24 hours, ending at 0700 hours on Friday. SHIPS SAILED: Thor Achiever Coal Vega Lea G.C YM Enlightenment Cont KSL Anyang G.C M.T.Karachi Tanker Efficiency OL G.C SHIPS BERTHED: COSCO Nagoya Container Ship Ismail Deeb Phosphate Hansa Centurion Container Ship Hyundai Highness General Cargo Privaegean General Cargo ... Read More »

Kenya Airways expands Travel port agreement

kenya airways

NAIROBI: Kenya Airways has announced the extension of its multi-year contract with technology firm Travel port. The agreement means that Travel port-connected agents worldwide will have continued access to search, compare and book Kenya Airways’ full range of fares and optional services via Travel port’s Travel Commerce Platform. It follows the announcement earlier this year that Kenya Airways signed-up to ... Read More »

Pak rupee falls by 50 pasias in cash-free market to reach 106.05

pak rupee 7

KARACHI: The Pakistani rupee Friday further depreciated against the American currency both in open market and interbank. According to the local money market, the US dollar gained 50 paisas in the cash-free market for selling at 106.05 and 15 paisas in interbank to reach 104.45. On Thursday, the greenback added 50 paisas in open market for selling at 105.55 and ... Read More »

Japan stocks climb up by midday, Nikkei gains 1.07%

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TOKYO: Japan’s stocks rose on Friday following an upbeat session in US, and ending three consecutive days of losses. The benchmark Nikkei 225 was up 1.07% at 19,245.35 in mid morning trade, despite oil prices continuing to sit near seven-year lows. A weaker yen, which helps the country’s big exporters, was helping to boost investor confidence. In Australia, investors were ... Read More »

Aftab Ahmad assumes charge as Member (Taxpayers Audit)

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ISLAMABAD: Aftab Ahmad, a BS-21 officer of Inland Revenue Service, has assumed the charge of the post of Member (Taxpayers Audit), Federal Board of Revenue (HQ), Islamabad. The officer, in pursuance of Board’s Notification No.2875-IR-I/2015, dated 08.12.2015, assumed the charge of the post of Member (Taxpayers Audit), FBR (HQ), Islamabad, with effect from December 09. Read More »

Pervaiz Alam takes charge as Member

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ISLAMABAD: Muhammad Pervaiz Alam, a BS-21 officer of Inland Revenue Service, has assumed the charge of the post of Member, Federal Board of Revenue (HQ), Islamabad. Pervaiz Alam, pursuing the Law, Justice and Human Rights Division’s Notification No.F.1(42)/2013-A.IV, dated 20.11.2015, took the charge of the post of Member, FBR (HQ), Islamabad, with effect from December 10. Read More »

KCB chief executive on Sh4.6m monthly

kcb boss

NAIROBI: KCB Group chief executive Joshua Oigara yesterday followed in the footsteps of his Safaricom counterpart Bob Collymore in publicly declaring his wealth. Oigara, 40, said he is worth Sh220 million. His assets are valued at Sh350 million, but he has a Sh130 million loan which erodes his net worth. The chief of the largest bank in East and Central Africa ... Read More »