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Author Archives: CT Report

Malaysia police seize drugs worth 500k

KUANTAN: Police nabbed three men and seized drugs worth RM523, 575 in two separate raids early this week. Pahang Criminal Investigation Department (Narcotics) chief Superintendent Lam Thiam Huat said in the first raid on Wednesday in Pekan, two men aged 43 and 32-years-old were arrested. “Upon further inspection, police found 2.3kg of heroin worth RM339,600 and 93.9grams of syabu worth ... Read More »

Brazilian exports of carbon steel products jump 84.3% YOY in 2015

BRASÍLIA: Brazilian exports of carbon steel sheet products jumped 84.3% year on year in 2015 to 2.65 million mt from 1.44 million mt in 2014, according to data released by the foreign trade ministry, Mdic, Friday. Exports of hot-rolled steel goods totaled 2.04 million mt, up 80% from 1.13 million mt year on year. Cold-rolled coil exports totaled 260,772 mt, ... Read More »

Philippine exports of garment, hard goods to reach $1 bln

MANILA: The country’s garments and hard goods manufacturers expect their export earnings to grow by at least five percent this year to $1 billion, the Philippine Exporters Confederation Inc. (Philexport) said Quoting the Foreign Buyers Association of the Philippines (FOBAP), Philexport  said the growth would be fueled by the operations of new foreign companies in the country as well as ... Read More »

Combodia Customs seizes nearly 500 undeclared iPhones

PHNOM PENH: Customs officers at Siem Reap International Airport on Thursday confiscated nearly 500 undeclared iPhones worth hundreds of thousands of dollars, which were hidden inside 11 suitcases smuggled into the country by two Cambo­dians, an airport official said on Friday. The iPhones—which retail locally for between $700 and $1,100 each, depending on storage capacity—had been purchased in Singapore and ... Read More »

UAE, Kuwait halt steel product imports from Iran

DUBAI: Exports of Iran’s steel to the UAE and Kuwait were halted following the escalation of tensions between Iran and Saudi Arabia over the execution of a prominent Shia cleric, an Iranian steel producer said. Reza Shahrestani, a member of the association of Iranian steel producers, said Iran in total exports about three million tons of steel annually and about ... Read More »

Exports of Iran’s steel halts to UAE, Kuwait

TEHRAN: Exports of Iran’s steel to the UAE and Kuwait were halted following the escalation of tensions between Iran and Saudi Arabia over the execution of a prominent Shia cleric, an Iranian steel producer said. Reza Shahrestani, a member of the association of Iranian steel producers, said Iran in total exports about three million tons of steel annually and about ... Read More »

Iran crude exports on track to hit 9-month high in January

TEHRAN: Iran’s crude oil exports are on target to hit a nine-month high in January as buyers prepare for the lifting of sanctions against the Middle Eastern country within days. Iran is on track to ship 1.10 million barrels a day (bpd) of crude excluding condensate this month, according to an industry source with knowledge of the OPEC member’s tanker ... Read More »

Two IR BS-20 officers relinquish charge as Commissioners

ISLAMABAD: Two Inland Revenue Service officers of BS-20 have relinquished charge of the post of Commissioner-IR from Multan and Bahawalpur. Ahmad Shuja Khan relinquished the charge of the post of Commissioner-IR (Special Zone), Regional Tax Office, Multan, with effect from January 13, and Amjad Farooq relinquished the charge of the post of Commissioner-IR, (Zone-II), RTO, Bahawalpur, with effect from January ... Read More »

New private home sales in Singapore fall by half in Dec

SINGAPORE – Sales of new private homes in Singapore ended last year with a whimper, as developers sold just 384 homes in December. This was about half the amount sold in November, though it was comparable to other months where no new projects were launched. It was also decidedly ahead of the meagre 230 new homes sold in December 2014. ... Read More »

Three Addl Commissioners-IR takes charge

ISLAMABAD: Three Inland Revenue Service officers of BS-19 have assumed charge as Additional Commissioners-IR in Lahore, Hyderabad and Rawalpindi. Masood Akhtar assumed the charge of the post of Additional Commissioner-IR, Regional Tax Office, Rawalpindi. Muhammad Shamim assumed the charge of the post of Additional Commissioner-IR, Regional Tax Office, Hyderabad, after relinquishing the charge of the post of Additional Director, Directorate ... Read More »

Thai seafood exports not affected by slavery reports – government

BANGKOK: Thailand said on Monday seafood exports to the United States, Europe and Australia have not been hit by reports of slavery and forced labour by campaign groups and media. The comments come as Thailand, the world’s third-largest seafood exporter, faces increasing pressure to crack down on illegal fishing or face the risk of bans on its fish exports and ... Read More »

Hong Kong ParknShop store fined for overcharging Customs officers HK$24 for nuts

HONG KONG: A ParknShop in Wong Tai Sin was fined HK$4,000 on Friday for overcharging two Customs officers HK$24 for two cans of nuts. The pair were asked to pay HK$29.9 for a can of Koh Kae spicy peanuts at the checkout of the store at Hong Tung House on October 17 two years ago, when in fact the peanuts ... Read More »

Vehicles imports into Ireland up 46% in Nov 2015

DUBLIN: The amount of cars and vehicles imported into Ireland was up by 46% in November 2015 when compared with the same time the year before. €401m worth of motor vehicles were imported here in November. However, the Central Statistics Office said that overall, the number of goods imported and exported was down for the month of November. The value ... Read More »

Carrefour revenue rises by 2.4% to $24bn

PARIS: Carrefour SA, France’s largest retailer, reported fourth-quarter revenue that met analysts’ estimates, boosted by Spain and Italy, achieving a fourth year of annual growth. Revenue rose 2.4 percent on an organic basis to 22.4 billion euros (US$24 billion), Boulogne-Billancourt, France-based Carrefour said yesterday in a statement. Analysts expected 22.6 billion euros, according to the median of estimates compiled by ... Read More »

South Korea’s Iran crude oil imports drop 62.2% year-on-year in Dec

SEOUL: South Korea’s crude oil shipments from Iran slid 62.2 percent in December from a year ago, with imports in full-year 2015 falling 8.0 percent from 2014 in accordance with sanction requirements over Tehran’s nuclear program. The world’s fifth-largest crude importer brought 207,629 tonnes of Iranian crude in December, or 49,094 barrels per day (bpd), compared with 548,598 tonnes a ... Read More »

Asian stocks slump to new lows

SINGAPORE and TOKYO: Asian stocks slumped to three-and-a-half-year lows yesterday as brief gains earlier in the session gave way to renewed pressure on crude oil prices and disappointing Chinese data, ratcheting up investor concerns about the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan declined 0.7 percent to the lowest level since June 2012 and was on track ... Read More »

Taiwan-Canada ink deal to prevent taxation of same income

OTTAWA: Taiwan and Canada have signed an agreement to prevent the taxation of the same income twice in the two nations, the Ministry of Foreign Affairs said yesterday. The signing was completed earlier in the day and is likely to take effect on Jan. 1 next year, after the two sides complete the necessary domestic procedures, the ministry said in ... Read More »

Thailand plans to raise trade with Iran to $5bn

BANGKOK: Thailand hopes to bring its trade transactions with Iran to $5 billion from the current $356 million as the Islamic Republic prepares to receive sanctions relief. “The value of trade and [mutual] investment between Iran and Thailand can increase to $1.2 billion two years into the lifting of the sanctions,” Thai Deputy Minister of Commerce Suvit Maesincee said. “Within ... Read More »

Compal sees 10% growth in shipments: president

TAIPEI: Compal Electronics Inc, the world’s No. 2 contract notebook computer maker, yesterday said it expects its total shipments to grow more than 10 percent year-on-year to 90 million units this year, driven by growing demand for non-notebook products. “The non-notebook segment is definitely going to contribute more than 30 percent revenue this year, compared with last year’s contribution of ... Read More »

India gold import bill increases 12%

NEW DELHI: India’s gold import in December 2015 is estimated to have crossed 100 tonnes following sharp increase in demand for gold during the first and last weeks of the month when prices fell sharply both in domestic and international markets. With 105 tonnes of estimated imports in December, India’s total gross import in 2015 has crossed 900 tonnes, a ... Read More »