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Author Archives: CT Report

Instant customs clearing for top global expos

DOHA: Taking advantage of the advanced single-window clearance system, Nadeeb, at ports of entries in Qatar, the General Authority of Customs (GAC) for the first time is providing instant clearing services for exhibitions. The special service will be first used in the Doha Jewellery and Watches Exhibition (DJWE) which begins here on Monday. The system facilitates temporary release measures for ... Read More »

US Customs seizes marijuana worth $178,000

TUCSON: Customs and Border Protection officers at the Raul Hector Castro Port of Entry in Douglas arrested a Mexican national here the other day for an alleged attempt to smuggle more than 355 pounds of marijuana worth nearly $178,000. A CBP narcotics detection canine alerted to the presence of drugs, which were located underneath the hood of a smuggling vehicle ... Read More »

Mehmood Aslam takes charges as Abbottabad Chief Commissioner

ISLAMABAD: Mehmood Aslam, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Chief Commissioner-IR, Regional Tax Office, Abbottabad. The officer, in pursuance of Board’s Notification No. 0305-IR-I/2016 dated 06.02.2016, relinquished the charge of the post of Director Law, Directorate of Law, Lahore, with effect from February 08. Read More »

Nayyar Mehmood assumes charge as Gujranwala Addl Commissioner-IR

ISLAMABAD: Nayyar Mehmood, a BS-18 officer of Inland Revenue Service, has assumed the charge of the post of Additional Commissioner-IR, (OPS), RTO, Gujranwala. The officer, in pursuance of Board’s Notification No.0057-IR-I/2016 dated 08-01-2016, relinquished the charge of the post of Additional Commissioner-IR, (OPS), LTU, Lahore. Read More »

US Customs seizes cocaine worth $274K

TUCSON: Customs and Border Protection officers arrested a Mexican national for an alleged attempt to smuggle more than $274,000 worth of cocaine through the Port of Nogales Feb. 16.Ten packages of cocaine were removed by CBP officers at the DeConcini crossing, from within the dashboard area of a smuggling vehicle Officers at the Dennis DeConcini crossing referred Luis Arturo Lopez-Illingworth, ... Read More »

Waqas, Sadia assume, relinquish charge as Dy Commissioners

ISLAMABAD: Two Inland Revenue officers of BS-18 relinquished/assumed charge as Deputy Commissioners in Islamabad and Multan. Waqas Rashid Ch assumed the charge of the post of Deputy Commissioner-IR, LTU, Lahore, after relinquishing the charge of the post of Deputy Commissioner-IR, RTO, Multan. Sadia Akmal, in pursuance of Board’s Notification No.0257-IR-I/2016 dated 29-01-2016, relinquished the charge of the post of Deputy ... Read More »

Yandex revenue up 18% in 2015

MOSCOW: Yandex, Russia’s leading search engine, reports an 18-percent increase in year-over-year revenue gains for 2015, climbing to $820.4 million, or 59.8 billion RUB during the year. The site owned an average of 57.3 percent of the Russian search market during the last quarter of 2015, with search queries up five percent over Q4 2014. COO Alexander Shulgin says Yandex ... Read More »

South Africa’s Truworths lifts H1 profit on acquisition

JOHANNESBURG: South African clothing retailer Truworths reported a 21 percent increase in half-year profit on Thursday, boosted by the recent acquisition of a British footwear chain. Truworths, South Africa’s second-largest listed apparel retailer, said headline EPS totalled 404 cents in the six months to the end of December compared with 333 cents a year earlier. The Cape Town-based company last November ... Read More »

Customs Superintendent Amin Kamboh retires

ISLAMABAD: Muhammad Amin Kamboh, a BS-17 officer of Customs Department, has retired from the government service on attaining the age of superannuation. The officer, presently posted as Superintendent, Model Customs Collectorate, Multan, stood retire from the government service with effect from February 09. Read More »

Russia joins list of countries seeking more tax revenue from Google, Apple

MOSCOW: Countries across Europe have been seeking more tax revenue from US tech companies such as Google and Apple. Google and Apple have so far agreed to pay several hundred million dollars to the UK and Italy, with more such agreements likely to follow. Now, Russia is trying to get in on the action. According to Bloomberg, the Russian parliament ... Read More »

Mechanisation perks increase non major ports

WASHINGTON: With increased focus on mechanisation and efficiency, private-owned non-major ports in the country are eating into the market share of government-owned major ports. In the last three years, the share of major ports in total cargo has declined continuously, while that of non-major ports has been increasing. As a result, capacity utilisation of non-major ports was better than their ... Read More »

Russian stocks climb to 12-week high as rising oil stokes rally

MOSCOW: Russian stocks rose, extending the longest stretch of gains since November, and bonds advanced as crude’s rebound above $35 a barrel boosted asset prices in the world’s biggest energy exporter. The benchmark Micex Index advanced for a fifth day, climbing 2.1 percent to 1,807.21, the highest closing level since Nov. 26, with shares of Lukoil PJSC gaining 4 percent. ... Read More »

India expands port capacity as productivity improves

NEW DELHI: India will issue tenders in March for a consulting study on the development of a new transshipment port at Colachel on the Malabar coast on the southernmost tip of the subcontinent. The port is one of three new greenfield sites being developed amid fears a lack of capacity could stymie economic growth. The other two will be built ... Read More »

$2b annual earnings: Rice exporters ask govt to announce zero-rated tax regime

LAHORE: The rice exporters have urged the government to announce the industry zero-rated sales tax status as exporters are facing liquidity crunch in the face of pending tax refund claims. Rice Exporters Association of Pakistan (REAP) Chairman Muhammad Shafique, in a statement, said that the association’s members are terming the liquidity crunch a major stumbling block in the way of ... Read More »

Centrica full year revenue and profit fall on low commodity prices

LONDON: British Gas owner Centrica posted a decline in full year revenue and profit, despite what it described as a “resilient” performance in a challenging environment and retained an upbeat outlook for the short to medium term future. In the 12 months to 31 December, the FTSE 100 group saw revenue decline 5% year-on-year to £28bn (€36bn, $40bn), while adjusted ... Read More »

NAB chief for expediting probes of ‘top cases’ without any fear

LAHORE: The National Accountability Bureau (NAB) has decided to speed up the investigation process of ‘top corruption cases’ within 10 days without any fear NAB Chairman Qamar Zaman Chaudhry has sought details of important cases from all the regions and directed the completion of the investigation process within 10 days. The NAB had said the non-interference policy of the government ... Read More »

NC ports spends $14m to widen Wilmington turning basin

WILMINGTON: The North Carolina State Ports Authority has approved a $14 million contract to widen the ship turning basin at the Port of Wilmington. Local media outlets reports that the work will be done by Burgess Corporation of Jacksonville and should be completed by June 30. The agency board had earlier approved spending up to $21 million on the project ... Read More »

UK Port to receive multi-million boost

LONDON: In a bid to expand the Port of Dundee, Forth Ports, which are the company that own the port, has announced that an investment of US$14 million will put it at the forefront of the oil and gas decommissioning and offshore wind sectors, according to the BBC. Charles Hammond,  CEO of Forth Ports, said: “This is an important, privately ... Read More »

SCCI to develop own B2B E-Commerce website to facilitate traders

SIALKOT: Sialkot Chamber of Commerce and Industry, in continuation of its legacy of imparting innovative practices and initiatives for the betterment of the industry, has taken yet another bold step by building Sialkot’s vey first B2B E-Commerce website www.tradesialkot.com. Senior Vice President of Sialkot Chamber of Commerce and Industry (SCCI) Muhammad Sarfraz Butt told meia persons that the “Trade Sialkot” ... Read More »

Efforts underway to bring down street crimes soon: Mushtaq Maher

KARACHI: Additional Inspector General of Karachi Police Mushtaq Ahmed Maher has said that controlling street crimes was a serious challenge but efforts were underway and strategies have been devised which would result in bringing down the street crimes in the next couple of months. Exchanging views during his visit to KCCI, Additional IG added that police department in association with ... Read More »