International Customs

TEHRAN: Chief of National Iranian Oil Company (NIOC), Rokneddin Javadi, said that company is expected South Pars revenues in Persian...

HARCO invests $80m in Iraq’s Amarah Project

BAGHDAD: Hariri Construction and Contracting Company (HARCO) had invested $80 milllion in Iraq’s ‘Luluat Al Amarah’ (Pearl of Amarah) project...

India’s Income Tax Department asks Nokia to submit Rs3,500crore guarantee

NEW DELHI: India’s Income Tax Department has asked Nokia Company to provide a guarantee of up to Rs 3,500 crore...

RBS sells Dhs3 billion loans of UAE companies to local banks

DUBAI: Royal Bank of Scotland (RBS) has sold around Dhs3 billion ($816.8 million) loans of UAE companies to Commercial Bank...

Chennai Port to handle 62 million tonnes cargo this year

CHENNAI: Chennai Port Trust (ChPT) will handle 62 million tones cargo this year 2015 against the 51 million tonnes for...

Australia to grab Indonesia to reclaim title as world’s biggest coal exporter by 2017

TOKYO: Australia’s coal producers are looking to other markets after falling Chinese demand. Australia will grab Indonesia to reclaim its...

14 large Italian lenders request overall 32 billion euros at TLTRO tender

ROME: Big Italian banks are expected to take up the bulk of longer-term cheap funds offered by the European Central...

Italian banks non-performing loans rise to 185.5 billion euros, registers 15.4% increase

ROME: Non-performing loans at Italian banks totalled 185.5 billion euros ($199 billion) in January, up 15.4 percent from a year...

Norway sovereign fund drops 32 coal mining firms from its portfolio in 2014

OSLO: One of the biggest sovereign wealth funds in the world has started moving away from coal, dropping 32 coal...

Greece presents new reform proposal ahead of €450 million loan repayment to IMF

ATHENS: The Greece government presented a new reform program, although the European partners were not too impressed and no new...

Norwegian company shifts office to 6,000square foot Langford Furniture building

OSLO: A Norwegian company is moving into the old Langford Furniture building at the corner of Military and Bluecutt roads....

Tokyo imports 26% more oil from Iran in 2015

TOKYO: Japan's Ministry of Economy, Trade, and Industry announced that Tokyo imported 26 percent more oil from Iran in 2015....

Electronics firm Sharp seeks Japanese support for LCD spin-off business

TOKYO: Electronics firm Sharp plans to ask Japan’s public-private investment fund to back a spin-off of some of its liquid...

Ogura, other Daikin managers tasked with figuring out process to boost output by 20%

TOKYO: Japan’s recovery remains stuck in the slow lane. As Japan heads into the season of peak demand for room...

Purchasing Managers’ Index for Eurozone hits 10-month high of 52.2

AMSTERDAM: The European Central Bank’s defibrillator for the Eurozone economy appears to be working: the economy is growing at its...

EU, Netherlands announce contribution of $30 million to Palestine

AMSTERDAM: The European Union and the Netherlands announced a contribution of about $34.2 million (€31.6 million) to the Palestinian Authority’s...

Regional German bank files suit to avoid ECB supervision

BERLIN: A regional German bank has filed a suit to avoid being supervised by the European Central Bank, becoming the...

NorthStar Realty announces closing of €1.1b pan-EU office portfolio

BRUSSELS: NorthStar Realty announced that it has closed the acquisition of a €1.1 billion pan-European office portfolio (the “Portfolio”) that...

Taiwan to donate three choppers to Honduras for eradicating drug smuggling

TAIPEI: Taiwan will donate three helicopters to its diplomatic ally Honduras in the coming days to bolster the latter's crime-fighting...

Indonesia’s Indofood plans to open noodle factory in Morocco