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US Customs foils attempt to smuggle weapon, drugs and currency

LAREDO: Border Patrol agents from the Laredo Sector Border Patrol thwarted an attempt to smuggle drugs, currency and a weapon at the IH-35 Checkpoint. Border Patrol agents assigned to the Border Patrol Checkpoint on Interstate Highway 35 encountered a truck at the primary inspection lane.  The driver and passenger were being questioned regarding their immigration status, and were subsequently referred ... Read More »

US Customs seizes meth worth $480,000

EAGLE PASS: U.S. Customs and Border Protection officers at the Eagle Pass Port of Entry arrested a United States citizen March 6, after finding narcotics in his vehicle as he attempted to make entry to the United States. “The officers’ experience and being able to utilize all available tools was demonstrated in this seizure,” said Port Director John Brandt, Eagle ... Read More »

Macau Customs service to act against smuggling of fakes

MACAU: The customs service will try harder to prevent the smuggling of counterfeit goods into Macau, particularly smuggling through the Border Gate, TDM reports. The public broadcaster quotes the vice-chief of the customs service, Ian Chan Un, as saying counterfeit goods were brought in mainly by parallel traders entering through the Border Gate. “These illegal traders carry not only day-to-day ... Read More »

Three vessels transporting smuggled logs seized by authorities

MIRI: The Malaysian Maritime Enforcement Agency (MMEA) has confiscated some 9,000 metric tonnes of timber logs and seized two ships and a barge off the coast of Miri on suspicion of illegal transportation of logs. The agency has been carrying out surveillance operations 11 nautical miles in the South China Sea off Miri since March 4. Late on Sunday, the ... Read More »

SL navy seizes smuggled gold worth Rs. 34.5 million

COLOMBO: Sri Lankan navy has foiled a bid by two people to smuggle 6.94 kilogrammes of gold worth nearly 34.5 million Sri Lankan rupees to India in a fishing boat, officials said on Monday. Sri Lankan navy yesterday arrested the two people from northern Jaffna peninsula’s Madagal area as they were trying to smuggle the gold to India. 6.94 kilogrammes ... Read More »

More than 600m illicit cigarettes seized by HMRC in six months

LONDON: More than 600m illicit cigarettes and 137 tonnes of hand-rolling tobacco with a tax value of £232m were seized by the government in the space of six months in 2015. HM Revenue and Customs (HMRC) said the figures showed the department was reducing the illicit trade but that it remained a “significant problem”. An HMRC spokesman said by working ... Read More »

China Customs busts rice-smuggling gangs

BEIJING: Seven gangs suspected of smuggling rice have been busted in southern China, the General Administration of Customs (GAC) said Monday. They are suspected of smuggling 13,400 tons of rice worth about 67 million yuan (10.31 million U.S. dollars). With the help of local police, customs authorities in Chongqing, Kunming, Changsha and Guiyang arrested 34 suspects and seized more than ... Read More »

China exports fall by 20.6% in Feb

BEIJING: China’s exports in yuan-denominated terms slumped 20.6 percent year on year to 821.8 billion yuan ($126.3 billion) in February while imports dropped 8 percent to 612.3 billion yuan, customs data showed on Tuesday. The monthly foreign trade surplus shrank by 43.3 percent year on year to 209.5 billion yuan in February, according to the General Administration of Customs (GAC). ... Read More »

Alibaba bets on lottery firm AGTech with $308m

BEIJING: Alibaba Group Holding Ltd and its financial affiliate are buying a controlling stake in Hong Kong-listed lottery operator AGTech Holdings Ltd, for HK$2.39 billion ($308 million). Ali Fortune Investment Holding Ltd, which is 60 percent owned by Alibaba and 40 percent owned by its financial services arm Zhejiang Ant Small & Micro Financial Services Group Co, has agreed to ... Read More »

Forex assets decline to lowest in over 4 years

BEIJING: China’s foreign exchange reserves fell by US$28.57 billion to US$3.2 trillion in February, the lowest since December 2011, central bank data showed yesterday. The decline was smaller than a drop of US$99.5 billion in January, according to data published by the People’s Bank of China on its website. The country’s foreign exchange reserves have fallen four months in a ... Read More »

Shanghai’s new housing sector rises 78%

SHANGHAI: Shanghai’s new housing market posted sales of over 78 percent last week although the average price fell. The area of new homes sold, excluding government-subsidized affordable housing, soared 78.1 percent week on week to 505,700 square meters, the highest seven-day volume registered in about eight months, Shanghai Homelink Real Estate Agency Co said in a report released yesterday. The ... Read More »

Dutch thinktank forecasts stable recovery from recession

THE HAGUE: With a growth of 1.8 percent this year the Dutch economy is recovering from the recession and the euro crisis, the Netherlands Bureau for Economic Policy Analysis (CPB) announced in its projections published on Monday. The projected growth is less than the 2.1 percent expected in the previous forecast of December 2015. For 2017 the growth is estimated ... Read More »

Taiwan exports down for 13th month in February

TAIPEI: Taiwan’s exports dropped 11.8 percent year on year in February, down for the 13th month in a row, partly due to flagging global demand and falling oil prices, the local finance authority said in a statement Monday. Export volume stood at 17.78 billion U.S. dollars last month, compared with 13.63 billion U.S. dollars for import, which dropped 13.1 percent ... Read More »

BMW emphasizes future mobility at 100th anniversary in Munich

MUNICH: Future mobility of its customers was the theme at German car producer BMW AG’s 100th anniversary here on Monday. “I firmly believe that personal mobility is once again at the dawn of a new and thrilling era,” said CEO Harald Krueger at a press conference held in the brand new BMW building, where the company began operations on March ... Read More »

TDAP promoting SMEs to increase exports: SM Munir

SIALKOT: Chief Executive Traders Development Authority of Pakistan (TDAP) S.M. Munir said that Pakistan is developing day by day under the best policies of Prime Minister Muhmmad Nawaz Sharif and basic facilities will be provided  to public on their door steps soon whereas dearness is decreasing and stability is improving by the better diplomacy of present rulers in the country. ... Read More »

Dar presides over ECNEC meeting, approves six projects

ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) which met under the Chairmanship of Finance Minister, Ishaq Dar, considered various project proposals in the spheres of health, communication and water supply. The ECNEC discussed at length the proposal of Ministry of National Health Services, Regulations and Coordination regarding the Expanded Programme of Immunization (EPI) spanning over the period ... Read More »

FIA arrests fourth accused involved in Rs 130m currency smugglers

LAHORE: The Federal Investigation Agency (FIA) has arrested one more currency smuggler after revelation of a accused who was arrested from Allama Iqbal International Airport with Rs 130 million foreign currency. As per details, the FIA team has arrested another main accused Yawar Butt. Accused Yawar Butt delivered bags of currency to Lahore airport from where another accused Zeshan Butt ... Read More »

Coal stocks at key Indian ports fall 1% to 12.32 mln mt

NEW DELHI: Coal stocks at 17 major Indian ports totaled 12.32 million mt as of March 3, down 1% week on week, data released by Indian shipbroker Interocean showed. The stockpile comprised 10.12 million mt of thermal coal, up 1.7% from 9.95 million mt the previous week; and 2.08 million mt of coking coal, down 9.3% over the same period ... Read More »

Chilean avocado shipments to Asia up 300% in 2015-16

LONDON: A flood of Mexican product dampened the market in October, but Chile has still notched a good season in China as it gears up for volume growth in 2016-17. Chilean Hass Avocado Committee CEO Juan Enrique Laso told there was great expectation for Chilean avocados in China with “tremendous demand”. “While it still hasn’t finished, it’s been a very ... Read More »

HTC revenues fall in Feb 2016

WASHINGTON: HTC has reported consolidated revenues of NT$4.2 billion (US$129.14 million) for February 2016, representing a 35.16% drop on month and 54.48% drop on year. The company has totaled NT$10.677 billion in year-to-date revenues, down 50.34% compared with the same time last year. HTC is expected to see its sales remain flat in March due to seasonal factors and the ... Read More »