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Author Archives: CT Report

US Customs arrests previously deported man traveling to New York

SAN JUAN: U.S. Customs and Border Protection (CBP) Field Operations officers arrested Sunday a previously removed man attempting to board a flight to New York City. Jose Oscar Marte-Payano, 35, citizen of the Dominican Republic appeared yesterday before the US District Court Magistrate Judge Marcos Lopez to face charges for re-entering after a previous removal or deportation. “Persons that are ... Read More »

Work hard to avoid privatisation, Kh Asif asks Wapda employees

ISLAMABAD: I Federal Minister for Water and Power Khawaja Muhammad Asif employees if they want to avoid privatisation, they should work hard. Addressing a ceremony, Kh Asif said that the government was taking every possible step to overcome electricity crisis. He said the representatives had to stop power theft in the country and directed to take stern action against the ... Read More »

Russian lawmakers propose fines for sales of banned food

MOSCOW: A bill presented at the Russian State Duma on Monday would introduce fines of up to 1 million rubles ($14,154) for the sale of food items that Russia has banned from import to the country in response to Western sanctions over the Ukraine crisis. Lawmakers from the Liberal Democratic Party, who introduced the bill, argued in an explanatory note ... Read More »

Russia seen exporting 180,000 bpd more oil in 2016

MOSCOW: Russia will export about 180,000 bopd more in 2016 as compared to last year, analysts said here the other day. According to ESAI Energy, exports via pipelines and Far East ports leading directly to Asia will only increase by 50,000 bopd, with the remainder of the growth coming in outflows from European ports. Higher exports from European ports will ... Read More »

Russia’s giant carmaker plans to boost export by 20,000 cars in 2016

MOSCOW: Russia’s flagship car manufacturer Avtovaz plans to boost exports to around 50,000 units in 2016, general director of Lada Izhevsk (part of Avtovaz) Mikhail Ryabov said Tuesday. Russia’s largest carmaker may start promoting its cars in Europe “Around 50,000 [cars are planned] to be exported. Of course, it will depend on many factors but we realize that amid current ... Read More »

Chinese Customs seizes 700kg of banned plant khat

BEIJING: Customs authorities in China seized a total of 705 kilograms of banned plant Khat, which can be used as stimulant, from Ethiopia. Khat was banned in China 2014, which makes it a criminal offense to plant hold, transport, traffic or eat the leafy shrub. The first parcel full that contained 14 kilos of khat, a leafy shrub grown in ... Read More »

Malaysia police seize 1.2 tonnes ganja worth RM4.2m

KUALA LUMPUR: Police have busted the largest drug distribution and smuggling syndicate in the country so far this year with the seizure of 1.2 tonnes of ganja worth RM4.2 million at two locations, in Selangor and Kedah. Bukit Aman Narcotics Criminal Investigation Department director Datuk Seri Mohd Mokhtar Mohd Shariff said a 38-year-old man was arrested in the raid in ... Read More »

Indonesia, Netherlands ink MoU to tackle Customs abuse

AMSTERDAM: Indonesia and the Netherlands entered into a memorandum of understanding to deepen cooperation in excise duty enforcement and customs matters. Under the terms of the MoU, the Dutch and Indonesian customs authorities will establish a formal basis for cooperation, especially in capacity building and information sharing. They will also exchange details about reputable traders from both countries. Heru Pambudi, ... Read More »

Indonesia, Australia free trade talks set to progress following heightened tensions

JAKARTA: Indonesian and Australian free trade talks are set to progress this week in a bid to turn around “underdone” business and investment ties following a period of heightened bilateral tensions. Former investment banker now Indonesian trade minister Thomas Lembong, arrived in Sydney on Tuesday for meetings with Australian business and political figures before travelling to Canberra on Wednesday for ... Read More »

Eurozone employment increases in Q4

BRUSSELS: Seasonally-adjusted employment in 19-country eurozone in the fourth quarter of 2015 rose by 0.3 percent compared with the previous quarter, official data showed on Tuesday. In the wider 28-member European Union (EU), employment saw a quarterly increase of 0.1 percent. The figures suggested that the bloc’s labor market continued to recover despite doing so at quite a slower pace. ... Read More »

Germany records 15-year-strong consumption growth in 2015

BERLIN: Fueled by a favorable shopping environment, German consumers’ spending in 2015 grew faster than any year else in the past 15 years, compensating their country’s losses in exports declines due to weak global recovery, official data showed on Tuesday. In 2015, German households spent 1.63 trillion euros (1.8 trillion U.S. dollars) on private consumption, said German federal statistics office ... Read More »

China vows to invest more in infrastructure, public services

BEIJING: China’s top economic planner has pledged to increase investment in infrastructure and public services, following a mild recovery in fixed assets investment over the first two months of this year. A total of 15 new fixed asset investment projects worth 34.1 billion yuan ($5.3 billion) have been approved this month, Zhao Chenxin, the spokesman for the National Development and ... Read More »

China urban unemployment stable at 5.1%: NBS

BEIJING: China’s urban unemployment rate stayed at 5.1 percent throughout January and February, according to new research by the National Bureau of Statistics (NBS). The rate, based on a survey in 31 major cities, was unchanged from January and 0.05 percentage points below the same period of last year, NBS chief Ning Jizhe said in a bylined article posted on ... Read More »

China’s ODI surges by 71.8% to $29.92bn in Jan-Feb

BEIJING: China’s non-financial outbound direct investment (ODI) in January and February surged 71.8 percent over the same period of 2015, according to new official data. The country’s ODI in the first two months of 2016 hit 195.97 billion yuan ($29.92 billion), said the Ministry of Commerce (MOC) in a statement on Tuesday. The ODI in February alone outnumbered the total ... Read More »

China to play leading role for development of Swiss SMEs

GENEVA: Swiss Union of Arts and Crafts (USAM) director Hans-Ulrich Bigler told Xinhua recently in an exclusive interview that China is playing an increasingly crucial role for small and medium sized enterprises (SMEs) based in Switzerland. “We want to build favourable conditions for economic development. For instance, we worked very hard towards establishing the bilateral accord between Switzerland and China,” ... Read More »

Alibaba to train 1 million rural e-commerce gurus

BEIJING: Alibaba reached an agreement Tuesday with China Communist Youth League, a CPC reserve force, to train 1 million teenagers to take e-commerce to rural areas. The agreement sealed in southwest China’s Guizhou province, means Alibaba will help the rural youth to jumpstart online businesses offering training, funds and partnerships. Alibaba’s Internet finance arm Ant Financial will earmark 1 billion ... Read More »

Release of seized items: SHC issues notice to deputy collector customs, adjudication

KARACHI: The Sindh High Court has issued notices to deputy collector of customs adjudication on the plea filed by Naseerullah, seeking release of goods which are seized by the customs authorities. Justice Munib Akhter also directed the respondents to file their comments on the next date of hearing. The petitioner submitted that he purchased consignment of 30 bundles of clothes ... Read More »

Indigenous technology must be developed to tap natural resources: LCCI

LAHORE: Lack of interest in developing indigenous technology is coming in the way of unearthing vast natural resources that could change the fate of Pakistan. The government should focus on this particular area and take private sector on board to play role in the development of technology in the country. The Lahore Chamber of Commerce and Industry (LCCI) President Sheikh Muhammad Arshad, Senior ... Read More »

FIA arrests private airline’s employee on currency smuggling charges

LAHORE: The Federal Investigation Agency (FIA) has arrested an employee of Shaheen Air International allegedly involved in currency smuggling from Allama Iqbal International Airport. According to the details, a special team of FIA raided the Lahore airport and nabbed Yawar Rafiq, an employee of private airline following the charges of currency smuggling to different countries causing loss to national kitty. ... Read More »

Traders discuss extension in period of concessionary rate of withholding tax

ISLAMABAD: A delegation of traders and members of business community had a meeting with Federal Finance Minister, Ishaq Dar. Special Assistant to Prime Minister on Revenue, Haroon Akhtar, MNA Mian Abdul Manan and Chairman FBR, Nisar Mohammad Khan were also present. The delegation discussed matters with the Finance Minister regarding extension in period of concessionary rate of withholding tax and ... Read More »