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Author Archives: Ammad Ahmed

Indian police nab culprit with smuggled liquor

AMRITSAR: The Amritsar rural police have confiscated a huge quantity of smuggled liquor and arrested a local resident, Ravi, of the Gate Khajana area near the Amritsar-Jhabal road here. The police seized 191 bottles, 1.43 lakh ml to be precise, from the vehicle (PB-02-DH-7329) he was driving. He was going from Rayya to Nath Ki Khui and ultimately it was ... Read More »

Malaysian authorities arrest smuggler with 30,000 turtle eggs

SANDAKAN: General Operation Force (GOF) has seized more than 3,000 turtle eggs from a pump boat heading towards Sabah waters. The operation that seen a smuggling attempt foiled was led by Senior Officer Wan Khalid Wan Omar. Director of Sabah Wildlife Department William Baya thanked the GOF for their success and hoped more can be done to help curb smuggling ... Read More »

Lebanon Customs nabs cocaine smuggler

BEIRUT: A Peruvian national, who swallowed a number of condoms filled with liquid cocaine, was arrested at dawn Saturday at Beirut’s Rafik Hariri International Airport, a source told media. Customs at Beirut airport managed to detain the 22-year-old suspect who initially traveled from Brazil to Abu Dhabi en route to Beirut. The suspect was identified by his initials Kh.L. After ... Read More »

Gujrat Customs seized smuggled cigarettes worth $5.65m

AHMEDABAD: Huge margin, increasing demand in local markets and high customs duty have led to exponential increase in cigarette smuggling in the last few months. Gujarat is fast becoming a transit point for smugglers to illegally bring in cigarettes in the state. Since March 2015, around 4.96 crore cigarette sticks worth Rs 37.29 crore have been seized by Directorate of ... Read More »

Singapore new private home sales picked rise in Oct

SINGAPORE: Two condo launches lifted new private home sales in October after September saw the lowest sales for the year. A total of 546 private homes were sold by developers last month, up from 341 private homes sold in September, according from Urban Redevelopment Authority (URA) released on Monday. Compared with a year ago, though, last month’s sales were 16 ... Read More »

Malaysia’s Aemulus Holdings revenue rises by 39.8%

KUALA LUMPUR: Aemulus Holdings Bhd (Aemulus) core net profit of RM1.7mil in the fourth quarter of financial year 2015 (4QFY15) fell short of Affin Hwang Capital Research’s full year estimates. An electronic test equiment service provider, Aemulus’ FY15 core net profit was at RM8.4mil, which accounted to only 76% of the full year estimates. The research house said on Monday ... Read More »

India’s AP sales tax revenue pegged at Rs. 32,000 cr

ANDHRA PARDESH: Finance Minister Yanamala Ramakrushnudu has pegged the estimated sales tax revenue for the State for the financial year 2015-16 at Rs.32,000 crore. Taking part in an awareness meeting organised by the Commercial Tax department for traders of Chittoor, Nellore, Kadapa, Anantapur and Kurnool districts here on Sunday, he hinted at several reforms in the department of commercial taxes ... Read More »

Ballard Partners revenue hits to $3.9m in Q3

FLORIDA: The seesaw scrum between Florida’s two largest governmental affairs firms for the top spot on Adams Street has tilted back to Ballard Partners after the latest lobbying compensation reports show the firm brought in approximately $3.9 million during the third quarter of 2015, almost $500,000 more than its rival, Southern Strategy Group. This is the first time this year ... Read More »

New Jersey online poker revenue surges 8% to $1.9m in Oct

NEW JERSEY: After recording an all-time low in online poker revenue in September, New Jersey ipoker sites rebounded in October with $1,913,403, an 8% boost from the previous month’s total of $1,771,123. The tandem of BorgataPoker.com and Partypoker NJ accounted for $1,079,478 of October’s total, while the WSOP.com and 888poker NJ pairing was responsible for $833,925. Out of the 10 ... Read More »

OK Zim revenue drops by 7.9% to $213.6m

HARARE: Ok Zimbabwe Limited revenue declined by 7,9% to $213,6 million for the six months ended September 30, 2015 due to lower consumer spending. Speaking at the company’s analyst briefing in Harare last week, OK Zimbabwe Limited chief executive officer, Willard Zireva, said challenges presented by the declining economic environment have continued unabated and worsened coupled with the effect of ... Read More »

KAMCO’s fee income stand at KD 3.6m in Q3

KUWAIT:  KAMCO Investment Company, a leading investment company with one of the largest AUMs in the region and winner of the prestigious Kuwait Asset Manager of the Year Award 2015, announced its financial results for the nine-month period ended September 30, 2015. The Company recorded a loss of KD 736 thousand with earnings-per-share (EPS) of -3.09 fils.  However, despite the ... Read More »

Markaz posts net profit of KD 2.39m for 3 quarters

KUWAIT: Kuwait Financial Centre “Markaz” announced a net profit attributable to shareholders of KD 2.39 million (EPS 5 fils per share) for the nine months ending 30th September 2015, as compared with a net profit of 6.31 million during the same period in 2014. Markaz’s total assets under management (AUM) reached KD 1.05 billion as of Sept 30th, 2015. These ... Read More »

Qatar inks LNG deal with Pakistan

DOHA: Qatar and Pakistan are working to finalize financial arrangements of a long-term agreement for the supply of liquefied natural gas (LNG) to the south Asian country. This came in remarks made by the Pakistan Petroleum Minister and Natural Resources Shahid Khaqan Abbasi , who recently took part in the 6th Asian Ministerial Energy Roundtable (AMER 6), held in Doha. ... Read More »

Qatar’s milaha facility repairs over 6,600 ships

DOHA: Milaha’s ship repair facility at Mesaieed, which is a preferred yard of major yacht owners in Qatar, has repaired more than 6,600 ships over the past 37 years, said a statement yesterday. The Qatar-based marine transport and logistics conglomerate, demonstrated its core marine services, particularly in ship repairs, to business visitors during the Qatar International Boat Show 2015, the ... Read More »

Aitken Spence revenue downs to Rs.5.9 billion

COLOMBO: The diversified conglomerate, Aitken Spence PLC saw its net profit for the quarter ended September 30, 2015 (2Q15) contracting by as much as 37.6 percent to Rs.361 million from a year ago as the group’s power sector is now making a fraction of the revenues it once did, the interim results released to the Colombo Stock Exchange showed. The ... Read More »

Taiwan export orders to fall for seventh month in a row

TAIPEI: The Ministry of Economic Affairs on Saturday said that it is to report a year-on-year decline in export orders last month for the seventh consecutive month, amid lingering weak global demand. The year-on-year decline reflects a relatively high comparison base created in October last year, when export orders totaled US$44.91 billion, up 13.4 percent from a year earlier, the ... Read More »

Indonesia’s CAD narrows 1.95% in Q3

JAKARTA: The current account deficit (CAD) narrowed in the third quarter from the previous quarter, paving the way for a lower full-year figure, the latest balance of payment (BoP) report has shown. According to the report, the CAD reached US$4 billion, or equal to 1.86 percent of gross domestic product (GDP) in the third quarter. The current account itself is ... Read More »

NDB net income improves in first nine months

COLOMBO: National Development Bank PLC and its Group companies ended the first nine months of 2015 with resilience and strength, continuing the growth momentum it has demonstrated in the recent past. The Bank’s post-tax profit for the period under review was Rs. 2.7 billion, whilst the Group profit attributable to shareholders (PAS) stood at Rs. 2.3 billion. Group net interest ... Read More »

SLT Group revenue up 6% to Rs. 50.8 billion in Q3

COLOMBO: Sri Lanka Telecom, the national telecom services provider released its company and group financial performance, for the 3rd quarter 2015. The group comprises of Sri Lanka Telecom and its eight subsidiaries including mobile arm Mobitel (Pvt) Ltd., (Mobitel). The group reported Rs. 50.8 billion revenue during the nine months ending in September 2015 with 6 percent year-on-year growth with ... Read More »

Chinese police seize 600kg ivory worth about 22 million yuan

BEIJING: Chinese police seized 600kg of elephant tusks and carved ivory products worth about 22 million yuan after a crackdown on a mainland smuggling gang. The leader of the gang, Chen Haiyuan, was caught by police at the start of a 12-month investigation, Xinhua news agency reported on Wednesday. He was jailed for 10 and a half years in October ... Read More »