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Switzerland’s chocolate consumption dropped to 11kg per capita in 2015

GENEVA: Switzerland’s chocolate consumption dropped to 11 kilograms (24 pounds) per capita last year, down 10 percent from the peak in 2008 as the strong franc spurred Swiss residents to buy products across the border and deterred incoming tourists from spending. While bonbon exports fared better, thanks to subsidies that compensate chocolate makers for Switzerland’s high dairy costs, the World ... Read More »

South Africa gold firms obtain lift from weak rand

CAPE TOWN: A sinking rand has sparked a buying spree and rerating of South African gold mining shares which have doubled in value in 2016, but the volatile currency is a double-edged sword that could cut the gains back down to size. The crumbling currency is the main driver behind the rally. It has shed 15 percent against the dollar ... Read More »

Pak rupee slightly gains value in cash-free market

KARACHI: The Pakistani rupee slightly strengthened against dollar in open market and remained firm in interbank. As per the local currency market, the dollar lost five paisas in open market for selling at 106.15 and remained unchanged in interbank for selling at 104.50. On Monday, the dollar closed firm in the interbank market against rupee on improved demand. The dollar ... Read More »

Clove imports more than double in 5 years

LONDON: Imports of cloves into the country more than doubled in five years, following a continuous decline in domestic production of the spice. In 2010-11, imports were at 7,000 tonnes valued at 153.37 crore, against 14,950 tonnes valued at 771.13 crore in 2014-15, according to Spices Board sources. Farmers in Idukki district of Kerala, where it was widely cultivated until about ... Read More »

Zesa seeks low import tariff

LONDON: Zesa Holdings negotiations with EDM of Mozambique have taken longer than expected as the power utility seeks to secure a tariff that is not onerous to its finances.Secretary for Energy, Partison Mbiriri said the power utility will be guided by what obtains in the region in terms of the tariff rate although it has emerged EDM had bargained for ... Read More »

5 Pakistan Customs officers of BS 19 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted 5 Pakistan Customs Service officers of BS 19 with immediate effect. According to the notification, the officers who are drawing performance allowance, will continue to draw this allowance on the new place of posting. All the officers have been directed to relinquish/assume charge, using online HRMS facility made available to FBR or ... Read More »

Britain,France just agreed a $2 billion drone deal

PARIS: France and Britain planned here the other day to announce a £1.5 billion ($2.11 billion) project to build a next-generation drone prototype as the two allies seek to increase security and military ties at a time of conflict in Syria and Libya. President Francois Hollande and Prime Minister David Cameron were meeting in northern France as part of a ... Read More »

48 Customs officers of BS 17-18 transferred

ISLAMABAD: Federal Board of Revenue (FBR) has transferred/posted 45 Pakistan Customs Service officers of BS 17-18 with immediate effect. According to the notification, the officers who are drawing performance allowance, will continue to draw this allowance on the new place of posting. All the officers have been directed to relinquish/assume charge, using online HRMS facility made available to FBR or ... Read More »

Syed Asad Raza assumes charge as Additional Collector

ISLAMABAD: Syed Asad Raza Rizvi, a Pakistan Customs Service officer of BS-19 officer, has assumed the charge of the post of Additional Collector, (JIAP) Model Customs Collectorate of Preventive, Karachi. The officer, in pursuance of Board’s Notification No. 0515-C-I/2015 dated 23.02.2016 Syed Asad Raza Rizvi, has relinquished the charge of the post of Secretary, Federal Board of Revenue (HQ), Islamabad, ... Read More »

Irish sheepmeat exports hampered by French farmer protests

DUBLIN: Irish sheepmeat exports to France last year were back 12% on 2014 levels to 16,000t, according to Declan Fennell, Sheepmeat Sector Manager with Bord Bia. Overall sheepmeat imports into France from exporting countries in 2015 were back by 8% to 93,600t, figures from AHDB show. France is Ireland’s number one market for sheepmeat Fennell said, and three things contributed ... Read More »

India’s coal imports inch up for first time in 8 months

NEW DELHI: India’s coal imports inched up 1.7 per cent in February, the first rise in eight months, coal secretary Anil Swarup told Reuters on Monday, but suggested it may have been a temporary increase based on deals signed earlier. Imports rose to 16.79 million tonnes from 16.51 million a year ago, ending a downward trend that began in July ... Read More »

Saudi Arabia interested to boost imports from Pakistan

RIYADH: Saudi Arabian investors are interested in investment and joint ventures in various sectors of Pakistan’s economy. Steel manufacturing and food processing are potential areas for joint ventures between the two countries. These views were expressed by Ambassador of Saudi Arabia to Pakistan Abdullah bin Marzouk Al-Zahrani here on Monday. He was talking to a delegation of Islamabad Chamber of ... Read More »

Asim Rehman takes charge as Customs Second Secretary

ISLAMABAD: Asim Rehman, a Pakistan Customs Service officer of BS-18, has assumed the charge of the post of Second Secretary, Federal Board of Revenue (HQ). The officer, in pursuance of Board’s Notification No. 0262-C-II/2016 dated 01.02.2016, relinquished the charge of the post of Deputy Collector, Office of the Chief Collector Customs Appraisement (South), Karachi. Read More »

Deputy Commissioners-IR assume charge

ISLAMABAD: Two Inland Revenue Service officers of BS-18 have assumed Deputy Commissioner-IR in Lahore. Atif Bashir, in pursuance of Board’s Notification No.0539-IR-I/2016 dated 24-02-2016, relinquished the charge of the post of Deputy Commissioner-IR, RTO, Bahawalpur and assumed the charge of the post of Deputy Commissioner-IR, RTO-II, Lahore. Muhammad Ali, pursuing the Board’s Notification No.0539-IR-I/2016 dated 24-02-2016, relinquished the charge of ... Read More »

Spanish fresh watermelon exports doubled

MADRID: Over the last ten years, Spain’s fresh watermelon exports have doubled, according to data from the statistical service Estacom (Icex-Agency Tax), with code 080711 of the Tariff Integrated of the European Communities – (TARIC), and processed by Hortoinfo The total volume of watermelons exported by Spain in 2015 reached 654.59 million kilos; the highest on record and the first ... Read More »

US ports require investment uptick

WASHINGTON: U.S. ports and our marine transportation system – and the hardworking men and women behind these operations – are essential drivers of the American economy. Every day, our ports and waterways handle millions of tons of domestic and international cargo, including food and agricultural products, petrochemicals and automobiles. In 2014 alone, $1.7 trillion worth of U.S. goods moved through ... Read More »

Hungary industrial output falls 0.2% in Jan

BUDAPEST: Hungary’s industrial output edged down an annual 0.2 percent according to unadjusted figures in January, the Central Statistical Office (KSH) said on Monday. Industrial output was up by 2.2 percent according to workday-adjusted figures. Industrial output grew by 9.4 percent in December according to unadjusted data and by 6.8 percent according to workday-adjusted data. Output increased year-on-year every month ... Read More »

Ghazni revenue up by 25% over last year

GHAZNI CITY: The southern Ghazni province’s revenue has increased by 25 percent this solar year, compared to last year’s returns, an official said on Sunday. Fida Mohammad Aziz, the revenue department head, told Pajhwok his department collected 391 million afghanis this year compared to last year’s 266 million afghanis. Aziz said they had started collecting revenue at district level as ... Read More »

Muhammad Ibrahim assumes charge as Customs Second Secretary

ISLAMABAD: Muhammad Ibrahim, a Pakistan Customs Service officer of BS-17, has assumed the charge of the post of Second Secretary, Customs Wing, Federal Board of Revenue (HQ). The officer, in pursuance of Board’s Notification No. 0262-C-II/2016 dated 01.02.2016, relinquished the charge of the post of Deputy Collector (OPS), Collectorate of Customs (Adjudication-II), Karachi, with effect from February 29. Read More »

Nisar Ahmed promoted as Deputy Director

ISLAMABAD: Nisar Ahmed, a Statistical/Research Officer (BS-17) in Directorate of Research & Statistics, Islamabad, has been promoted as Deputy Director, (BS-18) on regular basis with immediate effect. According to the notification, if the officer is drawing performance allowance will continue to draw the same after promotion. 3. The officer will actualize his promotion at his respective / existing place of ... Read More »