Friday , January 24 2020
Breaking News
Home / Author Archives: CT Report (page 2)

Author Archives: CT Report

First Australian port attains sustainability certification

EcoPorts, the global standard for environmental sustainability in the ports sector, has officially certified an Australian port for the first time. Port of Newcastle has become the first port in Australia or New Zealand to attain the certification. EcoPorts certified Port of Newcastle under its Port Environmental Review System (PERS) following stringent independent tests by Lloyd’s Register to measure the ... Read More »

UAE receives highest number of travel awards globally

Between 2015 and 2019 the United Arab Emirates has received more travel awards than any other country around the globe, a research revealed. According to a report from loveholidays, the Arab country received 282 travel awards in that time frame, with 66 of them being given in 2019. Within that figure, 35 awards were in travel, 182 in hospitality, 38 ... Read More »

U.K. Tax Agency Offers a $130,000 Bounty on Privacy Coin Traceability

The U.K.’s taxman is looking to crack down on private transactions. HM Revenue and Customs (HMRC), the tax authority for the U.K., has granted a bounty of $130,000 (£100,000) for anyone that can effectively track and identify crypto criminals. But what does this mean for privacy coins and financial anonymity? HMRC is looking for an autonomous way to analyze seven ... Read More »

Canada’s Non-Bank Mortgage Industry More Than Triples Its Business

Canadian real estate sales and development soared, and so have mortgage credit needs. New data from Statistics Canada (Stat Can) shows non-bank credit intermediaries (NBCI) have seen explosive growth. Over the past decade, NBCI dealing with mortgages have more than tripled their assets. Mortgages: NBCIs, MFCs, And MICs Today we’re looking at NBCIs, something not well known outside of real ... Read More »

Swiss police found ‘Russian spies’ in Davos last year

Swiss police last year discovered two suspected Russian agents in the luxury resort town of Davos – including one who claimed to be a plumber, a Swiss newspaper has reported. Tages Anzeiger said the two men, who were stopped but not arrested in August 2019, were suspected of carrying out “preparatory work” for spying on the World Economic Forum, which ... Read More »

Bangladesh court orders 231 unauthorized factories closed to save polluted river running through Dhaka

DHAKA – Bangladesh’s High Court has asked authorities to shut down 231 factories surrounding the highly polluted main river in the nation’s capital, lawyers and activists said Tuesday. Manzil Murshid, who filed a petition with the court seeking its intervention, said the factories are mainly small dyeing, tanning and rubber plants operating without approval from the Department of Environment. Such ... Read More »

Challenges for Malaysia’s meandering economy

The Malaysian economy seemed to be in a state of suspension in 2019. While observers expected a burst of economic activity in line with the promises made during Pakatan Harapan’s ascent to power in 2018, the year delivered little terms of economic growth. In fact, the third quarter of 2019 offered a disappointing 4.4 per cent GDP growth. The year ... Read More »

Amid Trump’s showdown with Iran, an ugly part of US history is reemerging

A surge of attempts to silence legitimate and thoughtful foreign policy criticism has reached new depths, impugning the loyalty of those who happen to have policy differences with those doing the impugning. The resulting damage is not just to individual reputations, but also to freedom of speech and to the care and wisdom that should be applied to the formulation ... Read More »

US sanctions helped Russia to boost oil exports

Exports of Russian crude surged last year, with shipments to the US increasing threefold, as Washington tightened sanctions against a number of countries, the Russian Ministry of Economic Development has said. The volume of Russian oil exports was up 3.9 percent, according to customs data for January-November 2019. In a note, seen by business outlet RBC, the ministry said that ... Read More »

Saudi Arabia issues $5bn bonds to help plug budget gap

Saudi Arabia sold its first Eurobond of the year on Tuesday as tension in the Middle East eased over the US assassination of a top Iranian general. The kingdom issued $5 billion of debt, taking advantage of low borrowing costs globally. It’s seeking to plug part of its growing budget deficit by selling about $32 billion of local currency and ... Read More »

KPT ships movement, cargo handling report Jan 22

KARACHI: Following were the movements of ships and cargo handling at the Karachi Port Trust (KPT) during the last 24 hours, ending at 0700 hours on Wednesday. SHIPS BERTHED: Cosco Pacific Container Ship KMTC Mumbai Container Ship JY Guardianship General Cargo AS Paola Container Ship M.T. Lahore Tanker Glovis Sirius car Carrier SHIPS SAILED: Cosco Pacific Gsl Manet Le Li ... Read More »

Pakistani envoy Asad Khan rings New York Stock Exchange’s closing bell

NEW YORK: Pakistan’s Ambassador to the United States, Asad Majeed Khan rang the NESTOL closing bell at the NASDAQ Stock Exchange in New York at a prestigious ceremony that signals the end of trading for the day on Wall Street. NASDAQ is the premier United States Stock Exchange, while NESTOL is an international software solutions company with extensive operations in ... Read More »

PM invites German company SAP to support ‘Digital Pakistan’

ISLAMABAD: Prime Minister Imran Khan on Wednesday invited SAP (System, Applications and Product), a software solution company of international acclaim, to support ‘Digital Pakistan’ initiative in skills development and training of youth in collaboration with major universities. In a meeting with Chief Executive Officer SAP Christian Klein on the sidelines of World Economic Forum at the Swiss resort Davos, the ... Read More »

Central banks join forces to look at future digital currencies

LONDON/FRANKFURT: Major central banks are looking at the case for issuing their own digital currencies, the Bank of England and European Central Bank said on Tuesday, amid a growing debate over the future of money and who controls it. The central banks of Britain, the euro zone, Japan, Sweden and Switzerland will share experiences in a new group headed by ... Read More »

Stocks edge down amid FATF speculations; gold price fall as dollar firms

KARACHI: Negative sentiments have been prevailing among investors as reflected by the Pakistan Stock Exchange (PSX) over uncertain speculations as the country’s delegation meets Financial Action Task Force (FATF) in Beijing for talks about measures taken to curb money laundering and terror financing. The benchmark KSE 100-share Index further dropped 289.47 points or 0.68pc and hit 42,337 points on Wednesday ... Read More »

Govt to convert CNG stations into EV charging terminals

ISLAMABAD: Government has approved an environmental policy that includes the proposal to transform 3,000 Compressed Natural Gas (CNG) stations across the country into Electric Vehicle charging stations. According to media, the Ministry of Climate Change was putting in a lot of effort to promote electric vehicles in Pakistan to help protect the natural environment, but it was yet to come ... Read More »

FBR reopens probe of eight years old sales tax refund scam

ISLAMABAD: Federal Board of Revenue (FBR) reopened investigations into an eight-year old tax refund scam against three companies suspected of embezzling billions of rupees through fake trade invoices. FBR officials told media that the bank accounts of the three companies had been frozen as part of the inquiry. The regional tax office in Karachi initiated the proceedings against M/s Oriental ... Read More »

Multinational firms keen to invest over $11m in Pakistan

DAVOS: One of the world’s leading suppliers of disposable personal hygiene products, Ontex is all geared up to double its investment in Pakistan in the coming years. The Belgian multinational that operates in more than 110 countries would invest €10 million or over USD11 million in Pakistan in the next two to three years. “We have invested €10 million in ... Read More »

FATF’s Working Group expresses satisfaction over Pakistan’s report

BEIJING: The Financial Action Task Force’s (FATF) Working Group has expressed satisfaction while reviewing Pakistan’s performance report from October 2019 till January 2020 in compliance with the global illicit financing watchdog’s action plan carrying 27 recommendations about the country’s anti-money laundering and combating financing of terrorism (AML/CFT) mechanism. The Pakistani delegation led by the Minister for Economic Affairs Hammad Azhar ... Read More »

Pakistan seeks further cooperation with ADB: Hafeez Shaikh

ISLAMABAD: Pakistan looks forward to further strengthening its partnership with the Asian Development Bank (ADB) under its new President Masatsugu Asakawa, Adviser to Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh said on Wednesday. Talking to media on the sidelines of the World Economic Forum (WEF) annual meeting at Davos, he said the PM had an excellent meeting ... Read More »