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Author Archives: CT Report

FTO asks FBR to remove deficiencies in its operating system

ISLAMABAD: The Federal Tax Ombudsman has recommended the Federal Board of Revenue to remove deficiencies in its operating system and ensure smooth payment of tax and filing of returns in accordance with the amended provisions of law. The FTO in its findings of complaint received from Shahid Mushtaq (complainant) versus Secretary Revenue Division (respondent) also asked the FBR to submit ... Read More »

Norway providing NOK 40 million in humanitarian assistance to Ukraine

OSLO: Norway is providing NOK 40 million in humanitarian assistance to help Ukraine in the present difficult situation, the Ministry of foreign Affairs announced. ‘The humanitarian situation in parts of Ukraine is serious. Five million people are in need of humanitarian assistance, including some 1.5 million internally displaced people. Children and the elderly are particularly vulnerable in the cold Ukrainian ... Read More »

Taiwan ferrous scrap imports down 2% in Jan

BEIJING: The latest import statistics indicate that the ferrous scrap imports by Taiwan during January this year dropped marginally over the previous month. The scrap imports by Taiwan during the month of January this year totaled over 171,000 tons. The imports dropped by nearly 2% when compared with the scrap imports during the month before. Taiwan had imported 174,000 tons ... Read More »

Intel Officer Sadiq suspended

ISLAMABAD: The competent authority has suspended Khalid Sadiq Marwat, Intelligence Officer, Directorate of Intelligence & Investigation-FBR, Regional Office, Peshawar, for a period of three months. The authority, exercising the powers conferred upon it under Rule 5(1) of the Government Servants (Efficiency & Discipline) Rules 1973, placed the officer under suspension for three months with immediate effect. Read More »

Saudi bans meat imports from Armenia

RIYADH: The Ministry of Agriculture has banned meat imports from the Armavir Province in Armenia due to the outbreak of foot and mouth disease (FMD). The Saudi Drug and Food Authority (SFDA) said that the ban would include cattle, sheep, goals and deer and their products. The OIE-World Organisation for Animal Health had issued an advisory following the outbreak of ... Read More »

Vestas sees favourable winds despite low oil prices

COPENHAGEN: Danish wind turbine maker Vestas Wind Systems posted a full-year profit for 2015 that beat forecasts and despite low global oil prices expects revenues to continue rising this year here the other day. “The wind power industry has matured in recent years and we are now seen as one of the main contributors to a more sustainable power generation ... Read More »

Paraguay’s Jan flat steel imports plunge 40% on year

LONDON: Paraguay imported 6,084 mt of its three dominant flat-rolled steel products in January, down 40.6% from the 10,254 mt imported in the same month of 2015, data from the country’s central bank showed Thursday. Last month, the three products most demanded were hot-rolled coil, cold-rolled coil and plate, the same as in January 2015. Imports of HRC were the most ... Read More »

Spanish police raid Chinese bank in €300m fraud probe

MADRID: Spanish police searched the Madrid branch of China’s biggest lender ICBC as part of a probe into suspected money laundering, smuggling and violation of workers’ rights here the other day. The director of the branch and a deputy director were arrested, a source close to the investigation said. The bank is suspected of being used to “introduce into the ... Read More »

EU awards 115,209 t Ukrainian wheat imports under quota

PARIS: The European Union awarded licences to import 115,209 tonnes of Ukrainian wheat this week under an annual duty-free quota, official data showed on Thursday. There were still almost 316,000 tonnes of wheat available during 2016 in the quota that offers a total annual volume of 950,000 tonnes, the data showed. The EU also awarded 5,500 tonnes of imports in a ... Read More »

Azerbaijan, Hungary discusss cooperation in agriculture feild

BUDAPEST: Azerbaijan`s Minister of Agriculture Heydar Asadov has met Deputy State Secretary of the Hungarian Ministry of Foreign Affairs Jolt Chutora, today.az reports. They discussed cooperation opportunities between Azerbaijan State Agrarian University, and University of Kaposvár of Hungary. The today.az said, Mr. Asadov applauded political and economic relations between the two countries, saying, “This meeting would contribute to further boosting ... Read More »

Assist Commissioner Riaz Ahmad exonerated from allegations

ISLAMABAD: Riaz Ahmad, Assistant Commissioner (IRS/BS-17), Regional Tax Office, Peshawar, has been exonerated from allegations levelled against him. As per details, the disciplinary proceedings were initiated against the officer under the Government Servants (Efficiency & Discipline) Rules, 1973 vide charge sheet and statement of allegation of “inefficiency” and “misconduct” within the meaning of Rule 2 read with Rule 3(a)&(b) of ... Read More »

Vietnam’s automobile sales rise 16% in Jan

HANOI: Viet Nam’s automobile sales in the first month of 2016 rose 16 per cent from the same period last year, amounting to 23,165 units, the Viet Nam Automobile Manufacturers Association (VAMA) announced on Tuesday. The number of passenger cars sold increased 3 per cent to 14,090 units while commercial cars shot up 50 per cent to 8,200 units and ... Read More »

Country’s mineral resources being excavated illegally: ministry

KABUL: The Ministry of Mines and Petroleum (MoMP) on Friday expressed deep concerns over the illegal excavation of minerals and other natural resources in different parts of the country. MoMP Spokesman Muhauddin Noori told Pajhwok Afghan News the ministry has learned that illegal armed people and insurgents in insecure areas of the country were involved in demining of natural resources. ... Read More »

Vietnam consumer confidence improves

HA NOI: Viet Nam advanced in the latest consumer confidence ranking by global information and measurement company Nielsen. The firm said in an online report earlier this week that Viet Nam’s consumer confidence index reached 108 points in Q4/2015, up three points over Q3/2015. This helped the country rank sixth globally in terms of optimism in the fourth quarter, compared ... Read More »

Hon Hai head Terry Gou eyes revenue, profit growth

TAIPEI: Hon Hai Precision Industry Co chairman Terry Gou yesterday said the company aims to increase its revenue and profit this year from last year, despite a volatile global economy. “We expect to maintain growth momentum in revenue, profitability, technology and patents this year,” Gou told reporters at the company’s headquarters in New Taipei City. Hon Hai, also known as ... Read More »

PM approves plans for $18.6 mln Khanh Hoa port

KHANH HOA: Prime Minister Nguyen Tan Dung has given the green light to the Bac Van Phong project, which will see the construction of a giant multipurpose port in Van Ninh District’s Dam Mon Village by Cang Nha Trang JSC. Cang Nha Trang JSC has proposed to invest VND417 billion (US$18.6 million) to build the port, according to the Khanh ... Read More »

VN- Australia trade drops 19% on crude oil prices

HANOI: Two-way trade between Viet Nam and Australia saw a year-on-year decrease of 19 per cent to US$4.93 billion in 2015, according to latest statistics from the General Department of Customs. Of the sum, Viet Nam’s exports to Australia reached $2.91 billion, down 27.2 per cent on-year while its imports from the market also witnessed a modest drop of 1.6 ... Read More »

Turkey’s exports to EU rise 6% in 2015

ANKARA: Turkey became the European Union’s fifth-largest trade partner in 2015, according to data released by Eurostat. According to a new report on the surplus of goods in European international trade, the EU exported 2.04 trillion euros in goods during 2015 with the revenue of total imports standing at 1.79 trillion euros. In 2015, Turkey’s exports to the EU rose ... Read More »

Pak rupee depreciates in open market, interbank

KARACHI: The Pakistani rupee Friday remained under pressure and shed value against the US currency both in open market and interbank. According to the local money market, the greenback gained five paisas in open market for selling at 106.10 and 10 paisas in interbank for selling at 104.40. On Thursday, the dollar lost 10 paisas in open market to reach ... Read More »

AUB profits rise 12.9% to KD 77.7m in 2015

KUWAIT: Ahli United Bank (Kuwait) announced operating profits from core businesses of the bank rose to KD 77.7 million in 2015, up from KD 68.8 million in 2014, an increase of 12.9 percent over the same period. The bank reported net profits of KD 42.8 million compared with KD 47 million in 2014 following a onetime extra precautionary provision impact ... Read More »