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Author Archives: CT Report

Tianjin Customs seizes 171 controlled knives

BEIJING: Recently, in Tianjin Customs District, Airport Customs House seized 171 controlled knives on the site of express control. All those knives were identified as prohibited ones in line with China Standards on Controlled Knives. Now this case has been transferred to Public Security Bureau. Controlled knives, all destructive and lethal to certain extent, are banned by China from non-permitted ... Read More »

Guangzhou Customs seizes 108 Infringing Watches

BEIJING: Recently, Tianhe Station Customs House (affiliated to Guangzhou Customs District) intercepted a total of 108 infringing watches taken by two foreign outward passengers. The infringement involved famous brands such as “ROLEX”, “OMEGA”, and “CHOPARD”. Since the anti-counterfeit and anti-infringement campaign “Breeze”, Tianhe Station Customs has seized more than 10,000 infringing goods taken by passengers. The Customs will further the ... Read More »

First Import under China-Australia FTA Clears Customs

SHANGHAI: Shanghai Customs District, by using a green clearance channel, fast released 1.2 tons of fresh cherries from Australia on declaration by Shanghai Esen Agro Products Company. It is the first import consignment since China-Australia FTA (Free Trade Agreement) took effect. “It can be expected that Australian share will grow a lot at even more competitive prices on Shanghai fruit ... Read More »

Vietnam eyes Thai rice in global market

HCM CITY: Viet Nam will have various advantages in exporting rice this year though it may have to compete with Thai rice in the global export market when Thailand sells rice at stock. Viet Nam Food Association (VFA) chairman Huynh The Nang said Thailand’s government has announced the sale of rice at stock in the near future. This will be ... Read More »

Philippine agriculture down by 0.96% in output in Q4

MANILA: The Philippine agriculture posted a 0.96 percent contraction in output in the fourth quarter of 2015 due to the effect of El Nino, a senior government official said Friday. “The sector’s performance was negatively affected by the long dry spell and damage caused by Typhoon Lando. In particular, the crops and fisheries subsectors recorded lower production for the quarter,” ... Read More »

Eurozone gov’t debt-to-GDP ratio falls to 91.6% in Q3

BRUSSELS: Government debt of the 19-country eurozone accounted for 91.6 percent of its gross domestic product (GDP) for the third quarter in 2015, slightly down from the 92.3 percent for the previous quarter, official data showed on Friday. In the wider 28-country European Union (EU), the government debt-to-GDP ratio decreased to 86 percent for the third quarter last year from ... Read More »

South African stocks rally for first weekly gain in 2016

CAPE TOWN: South African stocks gained the most in four months for the first weekly gain this year as global equities rallied with oil amid optimism that policy makers in Europe and Asia will step in with more stimulus measures. “The way we’ve gotten hammered and with the sentiment being so negative, certain shares were completely overdone,” Ferdi Heyneke, a ... Read More »

Iceland’s wage index records 0.9% increase in Dec. 2015

REYKJAVIK: Iceland’s wage index reported a month-on-month increase of 0.9 percent in December 2015, according to Statistics Iceland on Friday. The figures showed that the wage index in December 2015 was 542.7, an increase of 0.9 percent compared with 537.6 in November 2015. The index takes the wage in December 1988 as base number of 100. In the past 12 ... Read More »

UK seeks to increase food products exports

LONDON: Exporting tea to China, to shipping one of Britain’s favorite breakfast cereals to 80 countries, were cited Thursday at the launch of the creation of the Great British Food Unit. The unit has been established to turbo-charge British food exports and support industry growth plans, with a target of increasing manufactured food exports to around 8.5 billion U.S. dollars ... Read More »

US Customs seizes meth worth nearly $1m

LAREDO: U.S. Customs and Border Protection (CBP) officers seized a significant amount of crystal methamphetamine in two separate enforcement actions with a combined value of $914,468. “These were excellent interceptions made by our CBP officers,” said Port Director Gregory Alvarez, Laredo Port of Entry.  “I commend the officers for their keen observation skills and interviewing techniques which led to the ... Read More »

US Customs seizes raw chickens

DALLAS: U.S. Customs and Border Protection agriculture specialists working at Dallas Fort Worth International Airport fined a traveler for attempting to smuggle five uncooked chickens and three packages of pork meat. The traveler, a U.S. lawful permanent resident, arrived from El Salvador when CBP officers referred U.S. Customs and Border Protection agriculture specialists seized five unprepared chickens and three packages ... Read More »

Nawaz asks foreign investors to enjoy investment opportunities in Pakistan

DAVOS, Switzerland: Prime Minister Nawaz Sharif Friday invited Swiss and international investors to Pakistan’s energy, telecom, infrastructure, urban development, agro-industry and textiles sectors that offer exciting opportunities for investment. “I invite you to be our partners in realizing our vision for Pakistan. Our vision is of a Pakistan which is business friendly; a Pakistan where foreign investors feel safe and ... Read More »

India elects fastest growing economy at 7.3% in 2016

NEW DELHI: India will be the world’s fastest growing large economy at 7.3 per cent in 2016, improving further to 7.5 per cent in the following year, a United Nations world economy report said today. “India’s economy, which accounts for over 70 per cent of South Asia’s GDP, is projected to grow by 7.3 per cent in 2016 and 7.5 ... Read More »

2,149MW added to national grid in two years

ISLAMABAD: The Ministry of Water and Power Friday said that a total of 2,149 megawatt electricity were added to the national grid during last two years. Talking to APP, the ministry’s official said that Alternative Energy Development Board (AEDB) was also perusing the development of renewable energy projects (wind, solar, biomass) through private sector IPPs under RE Policy 2006. He ... Read More »

NHA joins hands with private sector to construct new roads

ISLAMABAD: National Highway Authority (NHA) has actively involved private sector in the construction process of new highways and motorways in the country. He said that the authority had established a private sector cell for providing one-window facility for the projects, an NHA official said on Friday. He said that the NHA has standardised its documents; pre-qualification criterion, request for proposals, ... Read More »

Karachi-Peshawar railway track being rehabilitated under CPEC

ISLAMABAD: The railway track from Karachi to Peshawar will be upgraded under the China-Pakistan Economic Corridor (CPEC) project after completion of feasibility study. According to Radio Pakistan, the Ministry of Railways sources has revealed that the project will be completed by 2020 with the help of Chinese government. On the completion of CPEC project, speed on main line will be ... Read More »

Tax authority probes recover $1.4 bln in Vietnam

HANOI: The tax authorities conducted investigations and checks at more than 70,000 businesses, reducing losses of around VND20 trillion ($889 million) in 2015. The Ministry of Finance said the investigations focussed on industries such as those in petroleum, gas, mineral exploration, and real estate trading, in addition to projects transfer, e-commerce and healthcare equipment, which could be involved in tax ... Read More »

Cambodia exports 50% more timber to Vietnam in 2015

HANOI: Cambodia exported about 50 percent more timber to Vietnam by value in 2015 than the year before, overtaking Laos as Vietnam’s top supplier, according to official data gathered by U.S. conservation group Forest Trends. The increase came ahead of an abrupt freeze on all timber exports to Vietnam that Cambodia imposed on Monday as part of a crackdown on ... Read More »

SPI inflation decreases by 0.32%

ISLAMABAD: The weekly inflation dipped by 0.32 per cent for the week ended January 21 as compared to the previous week. According to data of Pakistan Bureau of Statistics (PBS), the Sensitive Price Indicator (SPI) for the week under review in the above mentioned group was recorded at 216.97 points against 217.67 points registered in the previous week. Similarly, as ... Read More »

Vietnamese shares drop for second day

HANOI:  Vietnamese shares dropped for a second day and a sixth session in seven as energy stocks extended losses amid lower global oil prices. The benchmark VN Index on the HCM Stock Exchange fell 1.4 per cent to close at 521.88 points and the HNX Index on the Ha Noi Stock Exchange lost 1.2 per cent to end at 73.06 points. ... Read More »