Monday , October 14 2019
Breaking News
Home / Author Archives: CT Report (page 3340)

Author Archives: CT Report

Saudi Arabia plans to increase SAR95,300 GDP per capital


RIYADH: Saudi Arabia plans to increase GDP per capita to SAR95,300 in its current five-year economic development plan, which runs from 2015 through 2019. In the previous five-year development plan (2010 to 2014), GDP per capita averaged SAR79,100, according to a report by Al-Eqtisadiah. Over the next five years, the Kingdom – the world’s largest oil exporter – targets an ... Read More »

Salalah Port to link with national railway


MUSCAT: Port of Salalah, the Sultanate’s premier transhipment and logistics hub on the Indian Ocean, is collaborating with Oman Rail in the establishment of new infrastructure designed to suitably integrate the seaport with the proposed national and GCC rail networks. Plans drawn up by the port authority in conjunction with the national rail company envisage investments in new intermodal, logistics ... Read More »

Lack of milling capacity: Cambodia fails to achieve 1-million-ton rice export


PHNOM PENH: Cambodian Prime Minister Hun Sen said Thursday that the country failed to achieve its self-imposed target of exporting 1 million tons of milled rice by 2015 due to lack of milling capacity, storage facilities and funding. The Southeast Asian nation set the target in 2010. “So far this year, we had exported only half a million tons of ... Read More »

Adani Port, APSEZ to construct int’l container transshipment port at Vizhinjam

A truck drives past shipping containers at a port in Lianyungang

NEW DELHI: Adani Ports and Special Economic Zones Ltd (APSEZ), India’s biggest private port operator, on Saturday started construction of a new international container transhipment port at Vizhinjam in Kerala, with the Union government agreeing to ease a key law which will allow foreign container shipping lines to operate between the new port when it begins operations and other Indian ... Read More »

China to cut import tariffs on 800 products from Jan 1

cut rates

BEIJING: China will cut import tariffs on nearly 800 items from January 1 next year, the Ministry of Finance said in a statement yesterday. The range of goods for which tariffs will be cut include fresh food, nuts, industrial materials, equipment, and consumer goods such as suitcases, clothing, scarves, blankets, and sunglasses, according to the statement. Import tariffs for skin ... Read More »

China’s steel exports soar to over 100m tons in 2015

India steel imports

BEIJING: China’s steel exports have hit a record level this year at over 100m tonnes, illustrating how the country is relying on global sales to help reduce its surplus production. Rising Chinese exports of processed raw materials from steel to aluminium have helped pushed commodity prices down to their lowest level in almost a decade, hitting shares of global miners ... Read More »

Dow, DuPont eye merger to create $120b firm


BEIJING: Dow Chemical Co and DuPont are in talks to merge, creating a chemicals giant with a market value of more than US$120 billion that could then break up into different businesses, people familiar with the matter said on Tuesday. A deal, which would face regulatory approval in several countries, would allow the two US companies to rejig their assets ... Read More »

Japan stocks pull away for 3rd day as yen jumps, Topix slips 0.7pc


  TOKYO: Japanese stocks fell for a third day after the yen jumped against the dollar by the most in three months, damping the outlook for exporters. The Topix index retreated 0.7 percent to 1,544.10 as of 1:02 p.m. in Tokyo, headed for the lowest close in a month. The Nikkei 225 Stock Average lost 1.1 percent to 19,081.07. The ... Read More »

Chinese firm signs to agreement with Zimbabwe Govt

china zim

BEIJING: A Chinese multinational information technology firm, the Inspur group on Tuesday signed an agreement with the Zimbabwe government which will pave way for establishment of a joint venture computer manufacturing company in the country. Chief secretary to the President and Cabinet Misheck Sibanda signed on behalf of the Zimbabwe government while Inspur group president Sun Pishu signed for his ... Read More »

Chinese companies’ investments in Japan on the climbe


BEIJING: That hordes of Chinese tourists love to visit Japan is well known, but not so well known is Chinese companies’ penchant to invest in the Land of the Rising Sun. Take Shanghai Yuyuan Tourist Mart Co Ltd for instance. On Nov 11, it announced it has acquired a 100 percent stake in Hoshino Resorts Group’s 11-year-old, 25-track, 757-room ski ... Read More »

Mystery of “bright spots” on Ceres finally solve


HONG KONG: The mystery of the “bright spots” on Ceres has finally been clarified in two new studies. Footage from NASA’s Dawn spacecraft illustrates (in false color) neon blue deposits of salts in more than 130 locations across the celestial body. Taken by the frame camera on board the spacecraft, some 2,700 miles (4,400 km) away during a flyover, the ... Read More »

Solar superflare in star about 1,500 light-years away from Earth


CANADA: On spotting the enormous solar flare on the star, KIC9655129, scientists speculate that our sun could produce a similar solar flare sufficient enough to destroy our blue planet. With the help of NASA’s Kepler space telescope, researchers at the University of Warwick have been able to spot the solar superflare in the star about 1,500 light-years away from Earth. ... Read More »

S.Korea, China agree to implement bilateral FTA on Dec. 20


SEOUL: South Korea and China agreed to implement the bilateral free trade agreement (FTA) on Dec. 20, Seoul’s foreign ministry said Wednesday. The two nations continued negotiations to rapidly implement the FTA after Chinese Premier Li Keqiang and South Korean President Park Geun-hye shared views of the implementation within this year on Oct. 31 when the two leaders met in ... Read More »

Scientists develop ultra fast camera that can captures objects around blind corners


WASHINGTON: A team of scientists from Heriot-Watt University in Edinburgh, Scotland, said an extraordinarily fast camera that can see objects around corners could be used in search and rescue operations. It could also be used in cars to detect the hidden oncoming traffic. The team that presented its findings in journal Nature Photonics, said their method relies on the laser ... Read More »

Hight temperature makes whales life hell in Pacific Ocean


FRANCE: Increase in temperatures in Pacific Ocean is making life of whales hell. In 2015, more than 60 whales have been found entangled in fishing gear along the coast causing 400% hike over normal and a pattern that began in 2104. Capt. David Anderson of Captain Dave’s Dolphin and Whale Watching Safari in Dana Point, Calif., spotted whale entanglement for ... Read More »

Dubai Court sentences two years jail to Customs agent for misappropriating Dh2.2m

aus jails

DUBAI: A Customs agent has been jailed for two years and ordered to repay Dh2.2 million that he misappropriated from Dubai Customs using 521 forged Customs declaration forms. The 32-year-old Pakistani agent, M.I., committed 521 counts of e-forgeries in declaration forms of cars that had been imported over more than two years. M.I. was sentenced to two years in jail ... Read More »

Tokyo stocks dive at end of trade, Nikkei 225 sinks 1.32pc


  TOKYO: Tokyo’s benchmark stock index fell for a third straight session on Thursday as a strong yen dented exporters, and after Wall Street dropped on oil prices sinking to fresh seven-year lows. The Nikkei 225 at the Tokyo Stock Exchange sank 1.32 per cent, or 254.52 points, to 19,046.55 by the close, while the broader Topix index of all ... Read More »

More than 100 countries participate in WCO in Dominican Republic


SANTO DOMINGO: Delegates from over 100 countries analyze today new security measures at the World Customs Organization (WCO) Summit in Punta Cana, Dominican Republic. The meeting of the WCO General Policy Commission, which is on its 2nd day on Thursday, was inaugurated by council Secretary General Kunio Mikuiya and the chairman of the Customs Cooperation Council Zouhair Chorfi. The Dominican ... Read More »

Philippines BIR, Customs miss collection targets in Oct


MANILA: Faster growth in public spending against revenue generation resulted in a P27-billion budget deficit in October, although the government continued to underspend at the start of the fourth quarter. Treasury data released yesterday showed that expenditures last October jumped 23 percent to P190 billion from P154.8 billion a year ago, although disbursements that month were 8-percent lower than the ... Read More »

China’s yuan falls against US dollar


BEIJING: The Chinese yuan fell against the US dollar on Thursday’s Asian deals, as the Chinese central bank set a weaker midpoint for the yuan to dollar exchange rate. The yuan slipped to a 4-month low of 6.4408 against the greenback, from Wednesday’s closing quote of 6.4162. If the yuan extends slide, it may locate support around the 6.45 mark. ... Read More »