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Customs seizes around 8300 bottles of imported liquor

WASHINGTON: Drug Enforcement Cell (DEC) of Model Customs Collectorate, Preventive on Friday seized around 8300 bottles of imported liquor worth millions of rupees from Hawksbay road. According to official sources, the action was taken on a tip-off that some unscrupulous persons have smuggled huge quantity of liquor from UAE via Balochistan sea belt and were planning to transport it to ... Read More »

Poland authorities seize marijuana hidden in children toys

LODZ: Following a routine police check in Łódź, a 25-year old man was detained by police for the possession of over 1 kilogram of Marijuana. Suspicions were raised when a 25-year old man behaved nervously during a routine police check. Police officers followed their instinct and a search revealed 3 packages of Marijuana. Adam Kolasa, spokesperson for Łódź police, explains ... Read More »

Poland named among “12 destinations to watch” for 2016

WARSAW: The Association of British Travel Agents (ABTA) has named Poland among its 12 destinations to watch for the year 2016. The annual report identifies 12 destinations to watch that are expected to “capture our imagination in 2016”. Along with Poland, other destinations that were named by ABTA were Abu Dhabi, Australia, Canada, China, France, Hawaii, Iceland, Iran, Italy, Peru, ... Read More »

EU launches probe into new Polish laws

WARSAW: The European Commission has opened an unprecedented inquiry into whether new Polish laws break EU democracy rules. Vice-President Frans Timmermans announced a “preliminary assessment” under the EU’s “rule of law mechanism”. Critics of Poland’s right-wing government protested at changes to the Constitutional Court and media laws. The EU mechanism allows the Commission to press a member state to change ... Read More »

Poland police seize 1.5 tonnes of illegal cigarettes in Pabianice

PABIANICE: Police in Pabianice (Łódź region) seized 1.5 tonnes of illegal cigarettes in what can be described as a lucky break. Two people were arrested and taken to police station for questioning. Following suspicious behavior, police in Pabianice tried to pull over the driver of a Fiat Ducato. Noticing the police patrol car, the driver of the van tried to ... Read More »

Banks expects high profits despite crisis

KATHMANDU: Banks are optimistic of high second-quarter profits despite businesses being hit hard by the Tarai unrest and Indian embargo. Amid a general belief that bank profitability would be hurt due to the twin crisis of the earthquake and embargo this year, banks showed a net profit growth of 47 percent in the first quarter, and bankers have reported that ... Read More »

Iraq to supply crude oil and natural gas to Egypt, Jordan

AMMAN: Egypt signed a memorandum of understanding on Sunday to receive crude oil and natural gas from Iraq, Egypt’s minister of petroleum Tarek El Molla said. A statement from the petroleum ministry said the agreement was part of a deal between Iraq, Egypt and Jordan under which Baghdad will supply the other two countries with surpluses of crude oil and ... Read More »

Cadillac plans first imports from China

BEIJING: The Cadillac of the future will be made in China. The automaker has confirmed plans to import plug-in hybrid versions of its upcoming flagship sedan from China starting later this year, The Detroit News reports. Conventional versions of the CT6 will be built alongside the plug-in hybrid Cadillac ELR and Chevy Volt at GM’s Detroit-Hamtramck Assembly Plant in Michigan, ... Read More »

Jordan PM meets Saudi transport minister

AMMAN: Prime Minister Abdullah Ensour on Thursday met with Saudi Transport Minister Abdullah Al Miqbil in the presence of Prince Khaled Bin Al Walid BinTalal and the Saudi delegation taking part in meetings of the Joint Jordanian-Saudi Committee. Ensour highlighted the strong ties between Jordan and Saudi Arabia and thanked Saudi Arabia for its continued support to Jordan as well ... Read More »

Brazil’s Oi agrees to sell assets in Portugal to Altice

BRASILIA: The Brazilian telecommunications company Oi said that its board of directors had accepted an offer by Altice, the European cable television and mobile services provider, to acquire its assets in Portugal. The transaction, if completed, would allow Altice to add mobile phone service to its existing cable television operations in Portugal. The deal values the assets at 7.4 billion ... Read More »

Ukraine business circle’s inflation expectations improve in Q4 2015

KIEV: Inflation expectations of business circles in Ukraine in the fourth quarter of 2015 improved and devaluation expectations grew, while the business expectations index exceeded 100%. The assessments were recorded during a poll conducted by the National Bank of Ukraine (NBU) in November-December 2015, a total of 859 enterprises in 22 regions of Ukraine (not taking into account annexed Crimea ... Read More »

Stockmann sales drop by 16% in Finland

HELSINKI: Retail giant Stockmann’s sales in 2015 declined by nearly 13 percent (12.9%) with the main reason attributed to the group’s disinvestment of its business. In Finland, the 2015 sales dropped by over 16 percent and in abroad the sales dropped by more than 9 percent. Sales posted by Lindex grew by 0.3 percent. Stockmann divested part of its business ... Read More »

2 Finnish liquor traders suspected of tax evasion: Customs

HELSINKI: The Finnish Customs announced that it has investigated an online alco-hol and cigarette trafficking, and two Finnish vendors were suspected of transmit-ting alcohol from Estonia to Finland with unpaid taxes amounting to euro 350,000. The online shop named is a company registered in Estonia. The responsible persons are two Finnish men. Since last summer, the online shop’s business ... Read More »

Zimbabwe’s YOY inflation rate steady at -2.47%

HARARE: Zimbabwe’s year-on-year inflation rate was steady at at-2.47 percent, shedding 0.01 percentage points on the November rate of -2.46 percent, the national statistics agency said on Friday. On a monthly basis, the inflation rate in December was -0.11 percent after shedding 0.27 percentage points on November rate of 0.16 percent, the Zimbabwe National Statistics Agency (Zimstat) said. Read More »

Uganda’s inflation expected to reach 10%

KAMPALA: Uganda’s inflation is expected to reach 10 percent through the February election period, but rate hikes last year mean it will ease to a central bank target around 5 percent in the second half of 2016, the International Monetary Fund said on Friday. Rising government spending before the Feb. 18 presidential and parliamentary elections, combined with a global flight ... Read More »

Saudi Arabia oil dips below $30

JEDDAH: Oil prices slipped back below $30. This has raised questions about global growth on one hand and left investors braced for a third straight week of losses on world stock markets on the other. In fact, the price of crude oil fell again after a rebound in the previous session, helping to push down energy stocks. Benchmark US crude ... Read More »

Cargo traffic handles by major ports increases 13.45m tons

PUNE: Buoyed by the levels and changes of demand both in the domestic and global activity, cargo traffic at India’s twelve major ports witnessed an increase of 13.45 million tonnes during the period of April-December-2015 as compared to last year. Cargo traffic at India’s 12 major ports stood at 447.05 million tonnes during the period between April-December 2015 as compared ... Read More »

Compal sees 10% growth in shipments

BEIJING: 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 »

Oil shipments enhance Rotterdam port

LONDON: 2015 was a record year for Rotterdam port, with throughput rising almost 5% to 466 million tonnes, the port authority said on Friday. The growth was almost entirely due to an increase in the shipment of crude oil and oil products. ‘The low oil price has led to higher refinery margins and that in turn has led to an ... Read More »

Steel shipments down 11.4% YOY

WASHINGTON: Steel shipments or the amount of steel mills actually sell to customers, fell 12.4 percent in November, a 15.5 percent decline from November 2014. U.S. steel mills shipped 6.4 million net tons in November, a double-digit drop from 7.3 million tons sold in October and the 7.6 million tons shipped in the previous November, according to the American Iron and ... Read More »