Saturday , September 19 2020
Breaking News
Home / Author Archives: CT Report (page 3140)

Author Archives: CT Report

Last date for filing tax returns extended till 30th

ISLAMABAD: The federal government Friday extended last date for filing income tax returns for the tax year 2015 till April 30. Federal Board of Revenue, exercising the powers conferred upon it by sub-rule (a) of Rule 15 of Part III of the 9th Schedule to the Income Tax Ordinance, extended the deadline for another 30 days under rule 3 read with ... Read More »

Jifnain fuel storage hub commissioning in 2017

MUSCAT: State-owned refining flagship Orpic’s fuel storage hub at Al Jifnain is due to be commissioned next year, according to a key official associated with this strategically vital national project. Andres Suarez, General Manager at Orpic Logistics, which is constructing the Al Jifnain Terminal as part of Orpic’s Muscat Sohar Product Pipeline (MSPP) venture, said more than half of Oman’s ... Read More »

ANF to launch special drive against drug trafficking

KARACHI: Anti Narcotics Force (ANF) has announced to launch a special drive against drugs trafficking in every part of the country. The anti-narcotics operation will continue across the country to control such elements involved in heinous activities, said Anti-Narcotics Force Director General Major General Nasir Dilawar Shah HI (M). In a special message to the media, he said that ANF ... Read More »

FBR ‘achieves’ nine-month target of Rs 2,100b

ISLAMABAD: Federal Board of Revenue (FBR) has collected Rs 2,090 billion taxes against the target of Rs 2100 billion set for the first nine months (July-March) 2015-16. The FBR is also expected to meet the annual target of Rs 3103.7 billion for 2015-16 against the downward revised target of Rs 2605 billion in 2014-15. The monthly collection is around Rs ... Read More »

Bangladesh-China JV to build 1320MW power plant

DHAKA: Bangladesh-China Power Company (BCPCL) will spend $1.56bn to construct a coal-fired power plant near proposed Payra sea port. The power plant will consist of two units with a capacity of 660MW each and it will be build at Payra in Patuakhali district, 199 miles south of Dhaka. While the first unit is expected to be ready for electricity supply by ... Read More »

RCBC shuts down remittance operations in Italy

ROME: Rizal Commercial Banking Corp. said Thursday it closed its remittance operations in Italy, but the shutdown is not connected to the issue of money laundering. RCBC said it stopped the Italian remittance operations  because it could not meet on time the computer systems capabilities required by Banca D’Italia, the central bank of Italy. RCBC owns two branches in Italy—one in ... Read More »

Period of amnesty scheme extended till 30th

ISLAMABAD: The government has again extended period of tax amnesty scheme announced for the traders. Federal Board of Revenue (FBR) will accept income tax returns under Voluntary Tax Compliance Scheme (VTCS) till April 30, 2016. Earlier, the date had been extended from March 15 to March 31. The VTCS was launched on February 1, after the approval of the National ... Read More »

Ukraine’s balance of payment deficit in Feb was $74 mln

KIEV: The deficit of Ukraine’s consolidated balance of payment in February 2016 totaled $74 million after a surplus of $120 million in January 2016. The deficit was $743 million in February 2015. The National Bank of Ukraine (NBU) said on its website that the deficit of the current account in February reached $251 million compared to $379 million a month ... Read More »

Australia seals uranium export deal with Ukraine

CANBERRA: Australian Foreign Minister Julie Bishop announced today a pact to export uranium to Ukraine, which could help ease Kiev’s traditional reliance on hostile neighbour Russia for energy. Ukraine has previously expressed interest in buying the material, as well as coal, from Australia, the world’s third- ranking uranium producer behind Kazakhstan and Canada. “This agreement provides Ukraine with the opportunity to ... Read More »

Vietnam budget’s revenue up 0.3% in Q1 of 2016

HANOI: Total budget revenue in the first quarter of this year reached VNĐ230.5 trillion (US$10.3 billion), equalling 22.7 per cent of this year’s target revenue, an increase of 0.3 per cent over last year said the Ministry of Finance (MoF)’s office manager Ngô Chí Tùng. Tùng announced the news in a press conference held by the ministry in Hà Nội ... Read More »

Printer shipments 22.8% decline in Brazil

BRASÍLIA: Printer shipments have seen a 22.8 percent decline in Brazil, with 2.5 million devices sold in 2015 – 800,000 less than in 2014, says analyst firm IDC. Sales totaled $676m in Brazil in 2015, a decline of 14.7 percent in relation to the prior year. Inkjet printers saw a drop in sales of 21.1 percent and laser devices sold 27.4 ... Read More »

India seeks New Zealand’s cooperation for dairy industry

WELLINGTON: Prime Minister Narendra Modi on Thursday sought New Zealand’s cooperation in the dairy industry during a bilateral meeting with his New Zealand counterpart John Key here. “The prime minister talked about our interest in having dairy technology from New Zealand,” external affairs ministry spokesman Vikas Swarup said at a media briefing here. Modi’s meeting with Key was held on the ... Read More »

Saudi guards arrest infiltrators, seize drugs

RIYADH: The border guards arrested 288 Africans who infiltrated the Saudi territories in the province of Jazan and seized 54 packets of cannabis in two separate operations in mountainous areas. The African infiltrators have been referred to the security authorities for investigation. The Saudi border guards stepped up their security operations in the province of Jazan and confiscated 6275 packets ... Read More »

HP Australia product revenues head south

CANBERRA: The Australian operation of the formerly merged Hewlett Packard company has revealed that its local revenues sank by a whopping $271.5 million in 2015, with most of the decline attributable to its technology products business, as opposed to the IT services business it is splitting off into a separate company. On 1 November, HP split its operations into two, ... Read More »

Turkey’s foreign trade deficit down 32.8% in Feb

ANKARA: Turkey’s foreign trade deficit fell in February, the Turkish Statistical Institute (TurkStat) reported yesterday. In February, the deficit sharply declined to $4.7 billion, down $1.54 billion – 32.8 percent – compared to that same month last year, according to the institute. Turkey’s exports rose 1.4 percent year-on-year to $12.4 billion while February’s imports were valued at $15.6 billion, down ... Read More »

Iranian company to build gas distribution network in Armenia

TEHRAN: Iranian company Sanergy is to build a gas distribution network in two Armenian towns in a project financed by the Iranian government, Armenia’s energy minister said on Thursday. Levon Iolyan told a government meeting that Iran would resume financing for the project, which was suspended in 2013, and would disburse a $2 million grant. The project envisages construction of a ... Read More »

India’s coffee exports increase 13% in FY16

NEW DELHI: India’s coffee exports have shown an upward trend for the first time in the last three years by recording a growth of 13% in 2015-16. The bean exports have gone up to touch a level of 317,850 tonne in the just concluded financial year. In 2014-15, exports stood at 281,988 tonne and 299,178 tonne in 2013-14. The rise ... Read More »

Iraq signs $220M loan from Japan to support 2016 budget

BAGHDAD: Iraq agreed to a loan from Japan worth 250 billion yen ($220 million) to help fill a funding gap in its 2016 budget, the finance ministry said Thursday. “This loan comes as part of the joint funding with the World Bank that has already been presented to Iraq as a loan to support the development policy for financial reform,” ... Read More »

Iraq’s March oil exports from south 3.286 mln bpd

BAGHDAD: Iraq exported an average of 3.286 million barrels per day of crude from its southern ports in March, an official at the South Oil Company told Reuters on Friday. The central government’s oil exports all come from the southern region currently as its shipments through a northern pipeline to Turkey have been halted. That pipeline is also used by the ... Read More »

Reserve Bank of India eases norms for diamond imports

NEW DELHI: The Reserve Bank of India (RBI) on Thursday allowed banks to approve clean credit facility given by a foreign supplier to Indian importers of rough, cut and polished diamonds, even beyond 180 days. RBI, in consultation with the Union government, has decided to delegate the powers for permitting clean credit for a period exceeding 180 days import of ... Read More »