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Author Archives: CT Report

S. Korean overseas card spending hits record last year

SEOUL: Credit and debit card spending overseas by South Koreans hit an all-time high last year helped by increases in travel to Japan and direct buying from overseas online shops, industry data showed on Monday. Overseas card spending reached a combined US$13.26 billion in 2015, up 8.7 percent from a year earlier, according to the data compiled by the Credit ... Read More »

Pak rupee remains firm against dollar

KARACHI: The Pakistan rupee Monday remained firm against the US dollar both in open market and interbank. According to the local money market, the dollar remained unchanged both in cash-free market and interbank at 105.75 and 104.50 respectively. On Friday, the greenback lost 15 paisas in open market for selling at 105.75 and remained steady in interbank at 105.40. Read More »

Masood Sabir takes charge as Addl Collector in Appraisement (East)

ISLAMABAD: Muhammad Masood Sabir, a Pakistan Customs Service officer of BS-19, has taken the charge of the post of Additional Collector, Model Customs Collectorate of Appraisement (East), Customs House, Karachi. The officer, in pursuance of Board’s Notification No. 0515-C-I/2016 dated 23.02.2016, relinquished the charge of the post of Secretary, Federal Board of Revenue (HQ), Islamabad, with effect from March 14. Read More »

Nisar Ahmad takes charge as Customs Secretary

ISLAMABAD: Nisar Ahmad, a Pakistan Customs Service officer of BS-19, Monday assumed the charge of the post of Secretary at Federal Board of Revenue (HQ). The officer, pursuing the Board’s Notification No. 0644-C-II/2016 dated 07.03.2016, relinquished the charge of the post of Additional Director, Directorate of Intelligence & Investigation, FBR, Faisalabad, with effect from February 14. Read More »

Zimbabwe’s raw milk production increase 17%

HARARE: Zimbabwe’s raw milk production  for the month of January 2016 has surged 17 percent compared to the first month of the previous year spurred by rains which brought about fresh green pastures for the dairy cows ,the Dairy Services Department(DSD)  has said. Statistics released by the DSD show that Zimbabwe produced 5, 5 million litres of raw milk in ... Read More »

Ihsan Shah assumes charge as Customs R&A additional director

ISLAMABAD: Ihsan Ali Shah, a Pakistan Customs Service officer of BS-19, has assumed the charge of the post of Additional Director, Directorate of Reforms & Automation (Customs), Karachi. Ihsan, in pursuance of Board’s Notification No. 0515-C-I/2016 dated 23.02.2016, relinquished the charge of the post of Additional Director, Directorate of Internal Audit (Customs), Karachi, with effect from March 26. Read More »

Muhammad Zarif takes charge as Second Secretary

ISLAMABAD: Muhammad Zarif, an FBR’s ex-cadre officer, has assumed the charge of the post of Second Secretary Federal Board of Revenue (HQ) on his promotion to BS-18. The officer, in pursuance of Board’s Notification No.0738-IR-V/2016 dated 17-03-2016, relinquished the charge of the post of Second Secretary ( BS-17) FBR (HQ), Islamabad, with effect from March 17. Read More »

Zimbabwe’s trade deficit narrows in first 2 months

HARARE: Zimbabwe’s trade deficit stood at $380 million in January and February, narrowing from $466 million in the same period last year. Economic analysts say the trend reflects a relatively depressed domestic production, weak commodity prices and declining capacity to import. Figures released by the Zimbabwe Statistics Agency (Zimstat) last week reveal that the country imported goods valued $839 million ... Read More »

Central Bank of Swaziland hikes interest rate again to 6.5%

CAPE TOWN: The Central Bank of Swaziland (CBS) has again increased the bank rate by 25 basis points from 6.25 percent to 6.5 percent. Late January, CBS hiked rates by 0.5 percent as the economy continued to take a strain resulting from inflationary pressures. In a statement, CBS Governor Majozi Sithole said the decision came into effect last Friday after the ... Read More »

Iran opens new gasoline export border terminal

TEHRAN: A new terminal to export Iranian gasoline to Iraq has been launched in time with the soar in the sale of the oil product to neighboring countries. Since March, 2015, nearly two billion liters of gasoline has been issued to various countries including Iraq, Iraqi Kurdistan, Pakistan, Afghanistan, Tajikistan and some African countries. The volume of exports of Iranian gasoline ... Read More »

Saudi customs seizes record 7.8 mln amphetamine pills

RIYADH: Customs officials were successful in foiling two attempts to smuggle a record 7,846,550 amphetamine pills. The officials screened a consignment at Tabuk entry point and seized 5,419,750 pills which were hidden inside a textile sewing machine. In a second operation, officers arrested a Yemeni and a Turkish national in Riyadh and seized 2,425,800 pills hidden in a washing machine ... Read More »

Saudi Arabian Govt to issue $5.3 bln of bonds

RIYADH: The Saudi Arabian government will sell local banks SAR 20bn ($5.3bn) of three, five and seven-year bonds with floating and fixed rates, according to reports. The Maaal financial website quoted sources as saying the allocations of the bonds would be made on Monday. Three-year tranches for the fixed rate bonds will be priced at 55-60 basis points over US ... Read More »

Over Rs 2.6b worth of gas theft caught in one year

LAHORE: Sui Northern Gas Pipelines Limited (SNGPL), during its anti-theft drive, caught the gas theft of Rs 2.6 billion in Lahore region between Jan 2015 and Jan 2016. According to the company spokesman, the SNGPL task force traced 1,202 suspected meters, removed 213 domestic, 41 commercial and two bypasses from industry. He said, “Similarly it also dismantled 67 un-authorised networks/ ... Read More »

Govt asked to forge consensus on Kalabagh Dam

LAHORE: The government has been urged to start working on forging consensus on Kalabagh dam as Pakistan is bearing losses of billions of rupees due to delay in construction of the dam. This was stated by Institution of Engineers Pakistan Lahore Centre Chairman Engineer Dr Ahraf Sheikh in a statement. India has completed one hundred and seventy-one dams in occupied ... Read More »

Saudi hotel firm invests in Greece

RIYADH: Saudi group Somewhere Hotels is about to officially enter the Greek hotel market, which will also mark its European debut. Kathimerini understands that the group, with two units already in Dubai and another two in Saudi Arabia, is poised to open its fifth in Vouliagmeni on Athens’s souther coast. The unit will be a boutique hotel operating under the ... Read More »

Port Edward urges approval of LNG project

PORT EDWARD: The District of Port Edward submitted a letter offering their full support of the Pacific NorthWest LNG project. Council made the move during the public commenting period on the draft environmental assessment of the project. All four councillors and Mayor Dave MacDonald approved the letter drafted by the chief administrative officer, Bob Payette to the Canadian Environmental Assessment ... Read More »

Govt urged to give priority to remittances

ISLAMABAD: The government has been urged to give more importance to remittances than exports, said Islamabad Chamber of Small Traders Patron Shahid Rasheed Butt. In a statement, Shahid Butt said that despite best efforts of the government the exports continue to drop, therefore, the importance of remittances sector must be realised which is paying import bill of oil, LNG and ... Read More »

Pak among top milk, livestock producers: Minister

ATTOCK: Due to the government’s policies, Pakistan is now among the top producers of milk and livestock. This was stated by State Minister for Parliamentary Affairs Sheikh Aftab Ahmad during a ceremony, organised by the Livestock Department on the other day where keys of motorbikes were handed over to 114 veterinary assistants. District Officer Livestock Attock Muhammad Yameen was also ... Read More »

Manila judge inhibits from port controversy

WASHINGTON: A MANILA judge has finalized her inhibition from the case involving the dispute between businessman Reghis Romero II and his son, Michael, over the ownership of the P5-billion company that operates a 10-hectare port terminal facility at state-owned Manila Harbor Center. In a four-page order dated March 2, Manila Regional Trial Court Branch 24 Judge Ma. Victoria Soriano-Villadolid affirmed ... Read More »

Apple set to launch new iPhone, iPad handsets

SAN FRANCISCO: American IT giant Apple is set to launch new models of iPhone and iPad, which will likely to help the company keep momentum in the fast-evolving mobile device market. The media gathering at the company’s intimate Town Hall auditorium in Silicon Valley will also give Apple a chance to restate its case for fighting a US government demand ... Read More »