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Author Archives: CT Report

Germany, France to strengthen control on bitcoin

BERLIN: If the European Commission confirms the requests France and Germany to regulate digital currencies, bitcoin startups and investors will be negatively affected, and may possibly be required to provide sensitive financial and user data to government agencies for inspection. French Federal Finance Minister Wolfgang Schaeuble and former minister of social affairs Michel Sapin have proposed a set of financial ... Read More »

Greek producer prices down 7.8% YoY in Dec

ATHENS: The Hellenic Statistical Authority (ELSTAT) on Friday reported a 7.8 percent yearly decline in producer prices in December. On a monthly basis prices fell 3 percent from November.   Read More »

US trade deficit in goods climbs in Dec

WASHINGTON: An early look at U.S. trade patterns in December showed a small increase in the nation’s trade deficit. The trade gap in goods — services are excluded — rose 1.6% to a seasonally adjusted $61.5 billion, the government said Friday. A higher deficit subtracts from gross domestic product. The U.S trade outlook has deteriorated in the past year because of ... Read More »

Greek bank deposits rise 2% in Dec

ATHENS: Greek bank deposits rose in December after a two-month drop, data released by the country’s central bank showed on Friday. Business and household deposits increased by 2.48 billion euros, or 2.05 percent month-on-month to 123.38 billion euros ($134.6 billion), their lowest level since November 2003. They had dropped slightly to 120.9 billion euros in November. A two-month rise in ... Read More »

Fisheries: Stable catch for 2015

OSLO: In 2015, Norwegian vessels delivered 2.3 million tonnes of fish, crustaceans and molluscs, which was about the same as the year before. The landed value of catch came to NOK 16.4 billion; up 14 per cent from 2014. Sixty-two per cent of the catch was used for consumption, while 38 per cent was used for the production of meal, ... Read More »

Seven Customs officers of BS 19-20 transferred

ISLAMABAD: Federal Board of Revenue has transferred/posted seven Pakistan Customs Service officers of BS 19-20 with immediate effect. According to the Board’s notification, if the officers are drawing performance allowance, they will continue to draw the same on the new place of posting. The officers have been directed to relinquish/assume charge, using online HRMS facility made available to FBR or ... Read More »

23 Inland Revenue officers of BS 19-20 transferred

ISLAMABAD: Federal Board of Revenue has transferred/posted 23 Inland Revenue Service officers of BS 19-20 with immediate effect. According to the Board’s notification, if the officers are drawing performance allowance, they will continue to draw the same on the new place of posting. The officers have been directed to relinquish/assume charge, using online HRMS facility made available to FBR or ... Read More »

Danish tax minister announces measures to deal with VAT fraud

COPENHAGEN: Earlier this week it was reported that Danish companies that had defrauded the Danish tax authority SKAT of 30 million kroner in moms (VAT) were implicated in financing overseas terrorism. Today Karsten Lauritzen, the tax minister, announced targeted checks against moms fraud and a re-examination of the system to deal with the problem. “It is completely unacceptable when organised ... Read More »

Belgium budget deficit stands at 2.7% of GNP in 2015

BRUSSELS: Belgium’s budget deficit for 2015 was 2.7% of GNP. That’s according to figures released by the Federal Government today. This means that our budget deficit is well below the 3% of GNP limit that the EU imposes on Eurozone countries. In order to reach this figure the Federal Government led by Charles Michel (Francophone liberal) has spent money extremely ... Read More »

Global coffee exports rise 2.6% in first 3 months of 2015/16

NEW YORK: Global coffee exports rose 2.6 per cent in the first three months of this marketing year and climbed 1.3 per cent in December, year-over-year, the International Coffee Organization said on Friday, as prices traded around two-year lows. Exports of coffee rose by 2.6 per cent to 26.9 million 60-kg bags in the first quarter of the 2015/16 crop ... Read More »

43 Inland Revenue officers of BS 17-19 transferred

ISLAMABAD: Federal Board of Revenue has transferred/posted 43 Inland Revenue Service officers of BS 17-19 with immediate effect. According to the Board’s notification, if the officers are drawing performance allowance, they will continue to draw the same on the new place of posting. The officers have been directed to relinquish/assume charge, using online HRMS facility made available to FBR or ... Read More »

Anglo American coal exports fall

WASHINGTON: Anglo American saw its coal exports rom Australia, South Africa and Colombia fall in the fourth quarter. Thermal coal exports from Australia dropped by 38% vis-a-vis a year earlier to 1.15m tonnes because of lower production from its Drayton mine, which is nearing the end of its life, the miner said in a statement on Thursday. South Africa volumes fell ... Read More »

Gov’t pleges EUR 2.4m for young Hungarian entreprenurs abroad

BUDAPEST: The government will contribute 750 million forints (EUR 2.4m) to a programme aiding young ethnic Hungarian entrepreneurs living and doing business in neighbouring countries, Deputy Prime Minister Zsolt Semjen said on Friday. Speaking at a conference opening the programme, Semjen said the aim of the scheme is to strengthen Hungarians beyond the border in economic terms. Semjen expressed hope ... Read More »

Govt urged to enable women sell handicrafts

MAZAR-I-SHARIF: Enabling women to sell their handicrafts is essential for their economic stability, participants of an exhibition showcasing handicrafts in the capital of northern Balkh province said here the other day. Arranged in cooperation with Afghanistan’s People Support Organisation, the nearly 40 stalls were visited by a large number of  people, including women and civil society activists. Farzana Rahimi, the ... Read More »

Freight traffic between Russia, Poland faces suspension

MOSCOW: Freight traffic between Russia and Poland may be suspended because Poland refuses to follow new Russian regulations, Russia’s Transport Ministry announced on Friday, the Interfax news agency reported. The new regulations, according to the ministry, are aimed at tighter control of Russian permits issued for motor transportation of goods from other countries, but Polish officials insist the regulations imply ... Read More »

Brazil announces $83b plan to jumpstart economy

BRASÍLIA: The Brazilian government announced on Thursday measures to boost production and recover the country’s growth, including a credit injection of R$83 billion (US$20.4 billion) into the economy. Among the measures announced are investments in infrastructure and more available credit from state-run banks to small and medium sized companies and for important economic sectors such as agriculture and construction. According ... Read More »

14 Inland Revenue officers of BS-18 transferred

ISLAMABAD: Federal Board of Revenue has transferred/posted 14 Inland Revenue Service officers of BS-18 with immediate effect. According to the Board’s notification, if the officers are drawing performance allowance, they will continue to draw the same on the new place of posting. The officers have been directed to relinquish/assume charge, using online HRMS facility made available to FBR or by ... Read More »

Russia, India to discuss bilateral cooperation in New Delhi

MOSCOW: Two St. Petersburg International Economic Forum (SPIEF) panel sessions on Russo–Indian ties will kick-off on Saturday in New Delhi. The sides will discuss bilateral cooperation, BRICS as well as investment in Russian regions. “Russia considers India to be a strategic partner. Relations between our countries are built on foundations of trust, mutual respect, and consideration for each other’s interests. ... Read More »

China buys 191.6 mln tons of iron ore from Brazil in 2015

BRASÍLIA: China bought 191.6 million tons of iron ore from Brazil in 2015, a 12.1 percent increase over 2014, according to data from China’s General Administration of Customs. The Brazilian iron ore accounted for 20.1 percent of total Chinese imports of this commodity in 2015 – an increase from the 18.3 percent weight recorded in 2014, according to Reuters. In ... Read More »

Petrol price may cut by Rs7.56/litre, HSD by Rs11, LDO by Rs8.17

ISLAMABAD: The government is likely to decrease prices of petroleum products by Rs11 per litre from February 1 after a massive cut in oil prices in the international market. The Oil and Gas Regulatory Authority (Ogra) has recommended Rs7.56 per litre reduction in petrol, Rs11 per litre in high-speed diesel (HSD), and Rs8.17 per litre cut in light diesel oil ... Read More »