Honduras News Archives: trade

Taiwan Plans to Boost Trade with Honduras

News on November 18, 2009 by Administrator| 1 Comment

Evergreen Taiwanese shipping company recently opened a trade route between Puerto Cortes and Taipei, and plans to boost direct trade between Honduras and Taiwan, according to Wally Su, Economic Adviser for the Asian nation.

Evergreen is considered the world’s fourth largest shipping company by the number of vessels in its fleet, and cargo volumes mobilized, serving more than eighty destinations in as many countries.

The goal for Honduras is to mobilize some 120 containers per trip, which would be between 400 and 500 imports and exports a month. Evergreen has equipment to transport all kinds of goods. Sunday Honduras expects the arrival of a vessel with another 40 containers.

“This line will reduce costs between five and ten percent, for imported machinery and other products from Taiwan,” Wally Su stated.

According to data from the Chinese Embassy in Honduras, Taiwan’s trade with Honduras reached $100 million in 2008.

“With Evergreen shipping to Honduras, we are providing a way to improve the competitiveness of Honduran production, and exports of coffee and other products to Taiwan.”

The Taiwan China’s economic adviser, said that Honduran crafts can also be transported to other destinations from Puerto Cortes, like Nicaragua and El Salvador.

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Posted in Honduran Business - Economics

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Honduran Banks Profits Down

News on November 17, 2009 by Administrator| Comments Off

Honduran Private banks ended the third quarter of 2009 with a decrease of 227.8 million Lempiras in profits over the same period last year.

According to preliminary figures from the National Commission of Banks and Insurance (CNBS), profits fell equivalent to a percentage drop of 9.3%. This was explained by a decrease in the loan portfolio and investments. However, banks have been reporting an increase in the lending interest rate-loans.

The financial system has been one of the areas most affected by the global economic crisis, with credit lines suspended.

Loans

The Central Bank of Honduras, through the Monthly Economic Activity Index (IMAE) reveals that the financial inter-mediation activity from January to September 2009, measured by the flow of new loans granted to the private sector, decreased 2.4%, due to the lower placement of loans to trade, services and real estate.

This behavior is contrary to an increase of 19.9% in 2008. The structure of credit granted shows that 39.9% was spent on consumption, trade 17.8%, industry 15.1%, 11.9% in real estate, services 9.7%, 5.5% agriculture and 0.1% for other activities.

Ranking

Of the 17 financial institutions authorized to operate in the Honduran market, Banco Atlantida has the strongest gains recorded in the third quarter of 2009 with 418.3 million lempiras, equivalent to 24.8% of total profits. Ficohsa follows with 313 million Lempiras, Banpais with 309.3 million, Occidente with 284.7 million, and BAC-Bamer, with 208.7 million lempiras.

In total, five licensed financial institutions accumulate 1.534 million lempiras, equivalent to 91% of total profits for the period from January to September of 2009.

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Posted in Financial News

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Honduras Cracks Down on Drugs

News on April 20, 2009 by Administrator| Comments Off

Drug enforcement agents seized 3 million pseudoephedrine tablets that had been imported into Honduras from Bangladesh, a police spokesman said.

The seizure was made on Friday night at a house in a neighborhood in south Tegucigalpa that had been rented by a man named Manuel Valerio, the police spokesman said.

The shipment was headed to a “front pharmacy,” the police spokesman said.

The tablets may have been part of a shipment seized March 20 at Tegucigalpa’s Toncontin International Airport, the police spokesman said.

Authorities seized at least 55,100 tablets that arrived at the airport from Bangladesh via Panama.

In 2008, Honduran authorities seized more than 2.3 million pseudoephedrine tablets in Tegucigalpa and San Pedro Sula, the two largest cities in the Central American country.

Ephedrine and pseudoephedrine are used to manufacture methamphetamine, an illegal stimulant.

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Posted in General Honduras News

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