Cement News tagged under: trading
Excise duty on cement may be cut by 25%, Pakistan26 May 2009, Published under Cement NewsIn the budget for 2009-10 that is to be announced on June 13, the government of Pakistan is considering slashing excise duty on cement by 20 to 25 per cent as the existing duty stands at Rs900 per ton, said a senior official at the Ministry of Finance. “Cement dispatches are currently subject to payment of Rs900 as federal excise duty per ton, 16 per cent general sales tax, one per cent special excise duty, 0.1 per cent marking fee of ex-factory price and provincial duties and taxes. These ... |
Cement imports seen ending local market shortage soon, Jordan26 May 2009, Published under Cement NewsDirar Sarayreh, president of Jordan Construction Contractors Association (JCCA), on Saturday valued a decision by the government to allow cement imports. “The market still suffers from shortage of cement, but we believe that by opening the doors for importing this basic commodity from Saudi Arabia will end the crisis soon,” he said. In a press release issued Saturday, Industry and Trade Minister Amer Hadidi indicated that the ministry has taken necessary steps to supply local market with s... |
Egypt 2009 cement exports seen lower-CI Capital19 May 2009, Published under Cement NewsEgypt will see declining cement exports in 2009 due to the global slowdown coupled with a government decision to ban cement exports for four months from April, Egypt’s CI Capital Research said on Monday. But the industry can weather the drop by capitalising on a real estate backlog in the domestic market that will help demand for Egyptian cement continue to grow, albeit at a slower pace, the Cairo-based group added in a research note. CI Capital said cement exports were expected to drop to... |
Nigeria: ban on cement importation stays14 May 2009, Published under Cement NewsThe Federal Government has said it will not lift the ban on the importation of cement into the country. Rather, the government said it would encourage local cement manufacturers by providing a favourable. This comments were made on Wednesday by President Umaru Yar‘Adua, at the inauguration of the United Cement Company‘s 2.5Mt cement plant at Mfamosing, Calabar, Cross River State. Yar‘Adua, who was represented by the Minister for Commerce and Industry, Chief Achike Udenwa, said the Federal... |
Saudi ministry to continue with selective export ban on cement11 May 2009, Published under Cement NewsSaudi Arabia yesterday said it would continue with the ban on cement exports until producers agree to the demands and conditions set by the Ministry of Commerce. However, permission to export could be granted to only those companies accepting the conditions. Reacting to reports about an imminent end to a one-year ban on cement exports, Khaled Al Suleiman, the Undersecretary for Industrial Affairs at the Ministry of Commerce, said the 13 main cement manufacturers would be required to meet ce... |
Kuwait Portland Cement net profit jumps11 May 2009, Published under Cement NewsCement trader Kuwait Portland Cement boosted its net profit to KWD2.04m (US$6.99m) for the first quarter of 2009, up from KWD42,168 a year earlier, the company said yesterday in a statement to the Kuwait Stock Exchange (KSE). Earnings per share (EPS) stood at 24.74 fils, versus 0.51 fils. The total assets declined to KWD52.8m at end-March 2009 from KWD89.3m a year ago. The company slipped into a net loss of KWD8.6m in 2008, versus a net profit of KWD10.8m a year earlier. Source: Middle ... |
Sluggish Demand Forces Down Cement Price in Taiwan08 May 2009, Published under Cement NewsIt seems that the government’s moves to raise investments in infrastructural construction to stimulate demand has failed to help the domestic cement market, with a couple of cement suppliers having already cut prices to cope with the recent sluggish demand, according to industry sources. Taiwan Cement Corp., the leading cement supplier on the island, has cut prices by NT$100/t (US$2.99 at US$1: NT$33.4) to NT$2,600 (US$77.84) in the Taiwanese market starting May, while Universal Cement Corp... |
Pakistan exports decline nine per cent06 May 2009, Published under Cement NewsPakistan’s cement industry, which benefited from windfall profits in previous years, is claiming that its exports declined by nine per cent in April as compared to March 2009. The All Pakistan Cement Manufacturers Association (APCMA) is already in hot pursuit of fiscal incentives in the 2009-10 federal budget with the argument that it would collapse if the government did not extend a rescue package to it. The Association says that reduction in Public Sector Development Program (PSDP), the h... |
Philippines: cement tariffs may be restored30 April 2009, Published under Cement NewsThe Trade department may recommend reimposing tariffs on imported cement by June as a prior Malacanang order to eliminate duties has not brought down cement prices, Secretary Peter B Favila yesterday said. A cement industry group hailed this development, saying it will protect the industry from foreign manufacturers looking to dump their excess inventory into the Philippines. The government, under Executive Order 766 issued last November, had eliminated tariffs on imported cement until Jun... |
Slowdown signs - Indian cement exports contract to 8 year low27 April 2009, Published under Cement NewsExim News Service reported that India’s cement exports have hit a eight year low in 2008-09 following the imposition of curbs on shipments. As per report companies which have a capacity to manufacture 212Mt of cement a year exported barely 3.2Mt in 2008-09 a paltry 1.76% of its production of 181.42Mt. The government had banned cement exports in April last year to control inflation. Within two months, however, exports were allowed from Gujarat, the state which accounts for 90% of the overal... |