China warns exporters against rising overseas credit risks
January 7, 2009
Chinese exporters face an increased risk of not being paid for their goods as foreign banks run out of cash and some overseas importers evade paying debts, China’s Ministry of Commerce (MOC) warned on Monday. “The cases of malicious debt evasion and breach of contracts by importers in certain countries or regions are on the rise,” said the ministry in a notice. It attributed the phenomenon to the impact of the deepening global financial crisis.
China’s GDP to grow 8-9 pct in 2009: govt economist
January 6, 2009
China’s gross domestic product growth is likely to slow to 8 to 9 percent in 2009, mainly due to slowing export growth, a senior government economist said in remarks published on Monday. The export sector troubles will also contribute to a combined loss of about 25 million jobs in the two years 2008 and 2009, said Fan Jianping, chief economist of the State Information Centre, a top government think-tank.
Australia’s rich exports facing tough 2009
January 5, 2009
Lucrative Australian exports such as iron ore face a tough year as flatlining global growth and sluggish demand are set to topple resource prices from extravagant highs, analysts said. Recent months have seen signs of stress in the country’s mining boom, which has poured billions of dollars into the national economy over the past decade, with some mines shutting and projects scaled back amid the financial turmoil.
Benapole port, customs open on holiday
January 4, 2009
Benapole land port and customs were open yesterday, a weekly holiday, when 250 trucks-load goods and commodities imported from India and 70 trucks-load exported. Customs officials said they were directed to operate on the holiday to make up the losses caused by disruption during the polls.
Boost bilateral ties to up export: President
January 3, 2009
President Iajuddin Ahmed yesterday stressed the need for increasing export and improving bilateral trade relations with different countries to accelerate Bangladesh’s economic growth. “We have to diversify our export items and pay more attention to promote newer products for export to accelerate the national economy,” he said.
Bangladesh to export ships to Europe by 2011
January 1, 2009
Western Marine Shipyard Ltd. (WMSL), a local shipbuilding company, will export 12 ships, weighing 5,200 tonnes each, by 2011 to Germany, Holland and Denmark expecting to fetch about Taka 900 crore. Commerce and Education Adviser Dr Hossain Zillur Rahman inaugurated building of the 12 ice class ocean-going multipurpose vessels at the WMSL yard at Shikalbaha on the south bank of the river Karnaphuli in the district.
Export sector jobs at risk in Philippines
December 30, 2008
Jobs in the Philippines’ export sector will be at risk next year as the global financial crisis worsens, Labour Secretary Marianito Roque warned Monday. His comments came after Texas Instruments, one of the largest employers in the local electronics industry, said it will lay off 400 workers, or nearly 20 percent of its work force in the northern resort of Baguio, from January 15.
Prime Bank MD sees export item prices to fall
December 28, 2008
India to export 2m tonnes wheat to friendly nations
December 27, 2008
India, the second-largest wheat producer, has decided to export up to two million tonnes of the foodgrain to friendly countries, further easing a nearly two- year-old ban amid record foodgrain procurement. “In view of a comfortable situation of wheat stock in Central Pool, it has been decided to allow export of up to 20 lakh tonnes of wheat from Central Pool, on diplomatic basis to friendly countries,” Union Minister of State Akhilesh Prasad Singh said in a written reply in the Rajya Sabha (Upper House of Parliament).
Japan’s gloom deepens as exports
December 24, 2008
Japan’s woes from the global crisis deepened Monday as data showed a record drop in exports and the government said for the first time in nearly seven years that the economy was getting worse. Japan reported a trade deficit of 223.4 billion yen ($2.5 billion) in November as exports fell at their fastest-ever rate, according to figures from the finance ministry. The Japanese economy ‘stepped up the pace of its decline last month but is falling head over heels this month,’ said Hiroshi Watanabe, economist at the Daiwa Institute of Research.