Exports rise in HK

HONG KONG: Hong Kong exports in October grew by 11.6 per cent to $27.40 billion, slowing from a 17 per cent increase in the previous month. A government spokesman attributed the rise to strong export growth to major markets Europe, China and Japan, as well as to many other East Asian markets including South Korea, Malaysia, Thailand and Singapore. He did not provide reasons for the slower growth overall. — AFP

Consumer sentiment

NUREMBERG: After improving in November, consumer sentiment in Germany is set to deteriorate in December as households fret about the new government’s plans to raise value-added tax. The arguments over the political programme and over people in the coalition talks during the first half of November have unnerved consumers once again and, following the overall positive development in the previous month, led to a slight downurn in sentiment. — AFP

Industrial output up

SINGAPORE: Singapore’s industrial sector produced a better-than-expected performance in October with output rising by 17.6 per cent from a year ago, boosted by the oil rig and biomedical industries. The jump exceeded analysts’ forecasts of a 8.9-13 per cent rise and followed a similarly strong display in September when industrial production expanded by a revised 21.8 per cent, up from the orignial 21.1 per cent. — AFP

Taiwan economy dips

TAIPEI: Taiwan’s economy showed signs of slowing in October, with the index of leading indicators down by 0.8 per cent from September, when it rose by 0.4 per cent. The total score of monitored indicators for October was 23 points, unchanged from the preceding month and equivalent to a ‘green light’ or steady growth for a third consecutive month. — AFP

AirAsia posts profit

KUALA LUMPUR: Low-cost carrier AirAsia said its net profit rose by 13 per cent to $3.0 million in the three months to September compared to the same period a year ago. The carrier had moved to hedge its fuel costs and secure a tax break to cope with a ‘challenging’ first quarter of the 2006 financial year. The first quarter is seasonally the weakest quarter for the year but nonetheless AirAsia managed to achieve an encouraging performance relative to the industry.

— AFP

SingTel plans revamp

SINGAPORE: Singapore Telecommunications (SingTel) will streamline its business structure to strengthen the company’s operations at home and in the Asian region. Under the revamp, two new CEOs positions will be created to oversee the domestic and foreign markets respectively. — AFP

NEA to recover dues

BIRATNAGAR: Nepal Electricity Authority (NEA), Biratnagar distribution centre, is yet to recover

electricity revenue worth Rs 136.09 million from the last fiscal year from its clients. Out of this, tariff worth Rs 2.03 million is yet to be recovered from those clients in the black list of last year. During the fiscal year, industrial clients recorded the highest amount of arrear, which stands at Rs 70.36 million, while Rs 50.2 million due is to be raised from Biratnagar sub-metropolis for the street lighting. — RSS

Phone distribution

HETAUDA: Nepal Telecom (NT), Hetauda has distributed a total of 5,347 telephone lines to its various clients including Hetauda industrial estate, government offices, projects,

industrialists, businessmen and local consumers in the district. NT Hetauda exchange has a capacity to distribute as much as 8,800 lines. According to the Nepal Telecom Hetauda, 260 mobiles lines, including renewals of old mobiles lines and new registrations, have also been

distributed. The office has received 6,390 applications for telephone lines from Kartik till this month. — RSS