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Author Archives: ghadia

Pakistan-Afghan hold trade meeting

KABUL: Afghanistan Finance Minister Eklil Ahmad Hakimi arrived in Pakistan on Monday to hold important day-long talks on economic cooperation and trade issues, officials said. The Pakistan-Afghan Joint Economic Commission meeting was earlier scheduled to be held in August but was postponed due to tensions that have also derailed the Pakistan-brokered peace talks between the Afghanistan government and the Taliban. ... Read More »

Dutch Foreign Trade organizes 1-day trade, investment conference

AMSTERDAM: A one-day trade and investment conference organized by the Dutch Ministry of Foreign Trade and Development Cooperation has been planned to take place on the 30th of November in Hague, the Netherlands. The conference which will involve the participation of Liberia, Guinea and Sierra Leone is a follow-up to the July 6-9,2015 high-level Dutch trade delegation to the three ... Read More »

Dubai index rises 0.5% to 3,290 pts

DUBAI: Eight of the 10 most heavily traded Dubai stocks rose, with builder Arabtec, the most active stock, up 0.8 per cent. Dubai’s index rose 0.5 per cent to 3,290 points in modest turnover on Sunday. Eight of the 10 most heavily traded Dubai stocks rose, with builder Arabtec, the most active stock, up 0.8 per cent. Abu Dhabi’s index ... Read More »

Iran seeks to increase crude production by 30m bpd

TEHRAN: Opec should make room for increased Iranian crude production within its ceiling of 30 million barrels a day, the nation’s oil minister said, adding the group will probably leave that limit unchanged when it meets next month. Iran has asked Opec to accommodate its return to previous production levels when international sanctions are lifted, Bijan Namdar Zanganeh told reporters ... Read More »

Yuan declines 0.07% to close at 6.896

BEIJING: Chinese currency yuan fell to a three-month low as the central bank weakened the currency’s reference rate amid a dollar advance and on concern China will allow a decline to help its economy. The yuan is massively overvalued and needs to drop, David Tepper, the billionaire owner of Appaloosa Management, said at the Robin Hood Investor’s Conference last week. ... Read More »

Saudi Arabia to continue with oil, gas investment

RIYADH: Saudi Arabia will continue to press ahead with oil and gas investments despite the major fall in oil prices as the Kingdom’s strategy doesn’t focus on exports only, but also seeks to meet growing demand at home. The Kingdom, the world’s largest oil exporter, has been making major efforts to develop renewable energy sources, namely solar power, according to ... Read More »

Dutch trade delegation visiting Iran for business

TEHRAN: The Netherlands’ Minister of Economic Affairs Henk Kamp arrived in Tehran yesterday on the head of a large Dutch trade delegation to investigate new business opportunities in post-sanctions Iran. Over 60 large Dutch companies active in the energy and agriculture sectors are accompanying Kamp in his trip, according to the IRNA news agency. The Dutch minister is secluded to ... Read More »

Afghani currency fall 11% against dollar

KABUL: The Afghan currency lost its value by 11 percent against the US dollars and the Pakistani rupee in the past four months, when rates of food items and other commodities increased by 18 percent and fuel by 40 percent. In 2003, when new banknotes were printed for the first time when, one US dollaraccounted for 48 afghanis. Later, the ... Read More »

Thai trade delegation to visit Iran soon to explore investment opportunities

TEHRAN: A 75-member trade delegation from Thailand, led by the country’s deputy commerce minister, will arrive in Iran today. The delegation will participate in a seminar to explore investment opportunities in Iran, according to the Iran Chamber of Commerce, Industries, Mines, and Agriculture. The Thai traders are active in the fields of food and agriculture, construction, car spare parts, as ... Read More »

Russia, China sign free trade pact at APEC summit

MOSCOW: Thousands of Filipinos gathered in Manila on Thursday (Nov. 18) in protest of the Asia-Pacific Economic Cooperation’s (APEC) free-trade agenda, which protesters claim favors protection of large corporations over the rights of poor, working-class citizens. US President Barack Obama arrived in Malaysia today on the final leg of a series of summits aimed at furthering Washington’s bid to rebalance ... Read More »

Russia trade delegation preparing to visit Iran next month

MOSCOW: Moscow is hoping to cement its strengthening relationship with Tehran by clinching industrial export deals of more than $21bn, as it prepares to send one of its biggest trade delegations to Iran next month. Ilya Tarasenko, new president of Sukhoi Civil Aircraft, said the company was in advanced talks to sell 100 Sukhoi regional passenger superjets to Iran. “We ... Read More »

Ukraine trade links to soften Russian economic blow

MOSCOQW: At Kiev’s Boryspil airport, Igor, a 28-year-old Russian returning from what he calls an “excellent” trip to the Ukrainian capital, grumbles about the overnight journey he faces home. “I don’t see why I have to fly back to Moscow via Minsk [in neighbouring Belarus],” he complains. Behind him, Timur, a regular business traveller between Russia and Ukraine, is similarly ... Read More »

Smuggling on rise at Mexico-US border

MEXICO: Border Wars details so much of what U.S. Border Patrol agents face in enforcing drug and immigration laws. It is a must-watch television show about what really happens along the Mexico-U.S. border, not what politicians think happens. A good portion of the show details the efforts to stem illegal immigration. I talked about that in a recent commentary. The ... Read More »

Court sentences man 14 yrs jail in drugs smuggling case

LONDON: A truck driver from Herefordshire has been sentenced to 14 years in jail for his part in a drug smuggling racket which saw him kidnapped and tortured. Antony Joy, 47, was sentenced at Liverpool Crown Court last week having been found guilty of importing Class A drugs worth more than £4 million. Joy, from Cedar Close, Moreton-on-Lugg, was arrested ... Read More »

BSF seizes 21kg heroin, arms in Khemkaran

DHAKA: Officers of the BSF and the Counter Intelligence wing of the Punjab Police with the seized heroin and arms in Khemkaran, Tarn Taran, on Saturday. On a tip-off, the counter intelligence wing of the Punjab Police and the Border Security Force (BSF) today foiled Pakistani men’s bid to smuggle around 21 packets of heroin worth Rs 105 crore into ... Read More »

Indian Police arrest man in red sander smuggling case

The officials said Hussain had packed the red sanders after cutting them into small pieces. CHENNAI: Police arrested a man at Chennai airport on Saturday for attempting to smuggle red sanders worth 2.5 lakh to Hong Kong. He concealed the contraband in his suitcase. Based on a tip, immigration officials at the airport intercepted the baggage of Kader Naina Hussain ... Read More »

Andhra digging 1, 500-km trench to check red sanders smuggling

HYDERABAD: The trench, which is three metre wide and equally deep, is part of several measures initiated since June to check smuggling of the valuable wood. There is huge demand overseas, especially in China and Japan, where Red Sanders furniture and other items are status symbols. There is huge demand overseas, especially in China and Japan, where Red Sanders furniture ... Read More »

Sri Lankan Customs arrests man in money laundering case

COLOMBO: A duty free shop employee attempting to smuggle foreign currency valued at Rs. 11.5 million was nabbed by Air Force officers at the Bandaranaike International Airport (BIA), Katunayake. The 58-year-old duty free shop employee at the BIA, a resident of Nattandiya, was handed over to the Customs. Customs Media Spokesman Lesley Gamini said that the man had tried to ... Read More »

Azerbaijan Company buys 25% shares in Aktau

BAKU: Azerbaijani Investment Company OJSC will acquire a 25-percent stake in the logistics center built by the Azerbaijani Azersun Holding in Aktau (west Kazakhstan), said the minister of economy and industry of Azerbaijani Shahin Mustafayev said during the presentation of the center. “The construction of the logistics center in Aktau has been already completed, and since December it begins to ... Read More »

Indian Customs superintendent found dead at Jogbani district

ARARIA: A customs superintendent today died in a suspicious condition at Jogbani in the district. Sub Divisional Police Officer of Araria Mohammed Kasim said here Shazid Mehboob Khan was found dead in his room after the police broke open the door when he did not respond to their call this morning. Family members of Khan had called the customs officer ... Read More »