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Author Archives: CT Report

Grain Millers Association of Zimbabwe sets maize import target

HARARE: The Grain Millers Association of Zimbabwe (GMAZ) has started engaging service companies for import procurement contracts as local millers target importing 150,000 tonnes of maize per month until June next year. This is in light of the drought situation that has already ravaged some parts of Zimbabwe and Sadc. So far, nearly 7,000 cattle in Matabeleland South, Masvingo and ... Read More »

Focus on quality of products, Governor Ebad asks traders

  KARACHI: Sindh Governor Dr Ishratul Ebad Khan has asked the traders and manufacturers to focus on quality of products meet the international standards. He said this in his message delivered a ceremony of 5th Quality Standard Award 2015, organised by The Consumers Eye Pakistan (TCEP). The governor in his message lauded the services of Pakistan Standards and Quality Control ... Read More »

S. Korea’s import prices post main decline in 2015

SEOUL: Prices of imported products in South Korea posted the biggest yearly decline in history last year due to lower crude oil prices, central bank data showed on Wednesday. The import price index came in at 80.36 in 2015, down 15.3 percent from a year earlier, according to the Bank of Korea (BOK). It marked the biggest yearly decline since ... Read More »

US-South Korea free-trade accord effect on local exports: gov’t

TAIPEI: The implementation of a free-trade agreement (FTA) between the United States and South Korea has imposed an adverse impact on Taiwan’s exports to the U.S. market, a research report released by the Ministry of Economic Affairs (MOEA) showed Tuesday. The FTA between the U.S. and South Korea became effective on March 15, 2012. According to the report, which was ... Read More »

Algeria authorities arrest drug smuggler with 102kg cannabis

ALGIERS: A drug trafficker was arrested and 102 kg of cannabis resin was seized Saturday by units of the National Gendarmerie in Tlemcen and Ain Temouchent, said yesterday the Ministry of National Defence in a communiqué. “As part of the fight against smuggling and organized crime, units of the National Gendarmerie of Tlemcen and Ain Temouchent (2nd Military Region) arrested, ... Read More »

Ghazanfar Hussain takes charge as Chief Commissioner-IR

ISLAMABAD: Ghazanfar Hussain, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Chief Commissioner-IR, Regional Tax Office, Bahawalpur. The officer, in pursuance of Board’s Notification No.2936-IR-I/2015, dated 14.12.2015, assumed the charge of the above said post, with effect from January 11. Read More »

US dairy exports back 24% on 2014 levels

NEW YORK: US dairy exports in November 2015 were just $377.3m, back 24% on the corresponding month in 2014, according to the US Dairy Export Council (USDEC). According to Alan Levitt, Vice President of Communications and Market Analysis at USDEC, this is the lowest figure in nearly five years. Shipments of non-fat dry milk/skim milk powder (NDM/SMP) and lactose continued ... Read More »

Saudi exports rise to 54mt in 2015

RIYADH: The volume of Saudi exports in 2015 surged to 54 million tons at a value of SR158 billion, compared with 2014 when they amounted to 53m tons valued at SR194 billion. Eisa Al-Eisa, a spokesman for the Saudi Customs, told Al Eqtisadiah that imports touched 83m tons in 2015 at a value of SR640 billion, as against 85m tons, ... Read More »

Chief Commissioner-IR Kh Adnan Zahir relinquishes charge

ISLAMABAD: Khawaja Adnan Zahir, a BS-20 officer of Inland Revenue Service, has relinquished the charge of the post of Chief Commissioner-IR, Regional Tax Office, Bahawalpur. The officer, pursuing the Board’s Notification No.2936-IR-I/2015, dated 14.12.2015, relinquished the charge of the above said post with effect from January 11. Read More »

Port of Duqm plans to start mineral exports in February

MUSCAT: Port of Duqm plans to start export of minerals for the first time in February this year, said a top-level official of the port. The port has already set up facilities for ‘early operation’ of its break bulk terminal for exporting 50,000 tonnes of dolomite as the first shipment from the port. “One shipment is ready to be exported, ... Read More »

Brazil’s agric export volume increases in 2015

BRASÍLIA: Despite the decline of export value of Brazilian agricultural goods and the decline in the agriculture sector’s surplus in 2015 in comparison to 2014, the record volume shipped and the appreciated U.S. dollar helped the sector last year, according to the Brazilian Ministry of Agriculture. Data released on Monday shows that agricultural exports fell by 8.8 percent in value ... Read More »

China’s exports up 2.3%, imports fall 4% in Dec

BEIJING: China’s exports rebounded to grow 2.3% year-on-year in December, much higher than the 3.7% drop in November and market consensus of a 4.1% contraction. Imports contracted 4.0% in December, from a decline of 5.6% in November, due to lower commodity prices. As exports rebounded strongly, the trade surplus widened to a sizable RMB382.1 billion, or almost US$60 billion. For ... Read More »

Swiss canton tells taxpayers to delay settling bills

GENEVA: Taxpayers in parts of Switzerland this year face an unusual request from fiscal authorities: please delay settling your bill until as late as possible. Zug, the small but affluent canton outside Zürich, has announced it is ending discounts for early payment of tax bills. The reason? The longer it has cash on its books, the more likely it will ... Read More »

Addl Commissioner-IR Taqi’s performance allowance restored

ISLAMABAD: Performance allowance in respect of Muhammad Taqi Qureshi, BS-19 officer of Inland Revenue Service, has been restored. The performance allowance (equivalent to 100 per cent of basic pay) in respect of Muhammad Taqi Qureshi, presently posted as Additional Commissioner-IR, Regional Tax Office, Lahore, has been restored with effect from December 04, 2015. Meanwhile, Ziaullah Khan, Appraiser (BS-16), Model Customs ... Read More »

Afghanistan to import 200,000 tons wheat from Turkmenistan

KABUL: Afghanistan will buy 200,000 tons of wheat from neighbouring Turkmenistan at a price of under $250 per tons and is aiming to acquire another 600,000 tons from Kazakhstan, Afghan President Ashraf Ghani said here the other day. Afghanistan, which depends heavily on imported cereals, is expected to import 2.1 million tons of wheat in the 2015/16 season, according to ... Read More »

Canada imports 4,000 tons of butter to meet demand

OTTAWA: A blame game is underway in Canada aimed at whoever was responsible for the butter shortage there just ahead of the recent Christmas holiday period. As a country, Canada is one of the top producers of butter, but a recent surge in demand saw stocks run so low they almost ran out. In fact, Canada was forced to import ... Read More »

Colombian thermal coal exports to Netherlands at 17.495mmt, rising 11% year on year

AMSTERDAM: Colombian thermal coal exports in 2015 increased 7.6% year on year to 80.644 million mt, according to data from Colombian shipping agent Deep Blue. The main destinations for Colombian coal during the year were the Netherlands at 17.495 million mt, rising 11% year on year, Turkey (11.561 million mt, up 24%), the US (6.356 million mt, up 17% and ... Read More »

Noi Bai Airport strengthens customs checks before Tet

HANOI: Customs officials at Noi Bai International Airport are strengthening inspections of passengers, luggage and cargo from all flights arriving at the airport. These inspections are especially meant for those passengers arriving from Europe and some regional countries such as Singapore and South Korea, and aim to prevent smuggling and illegal transport of goods before the lunar New Year Festival. ... Read More »

Philippines police seize shabu worth P180m

MANILA: Police anti-narcotics group seized some P180 million worth of shabu following the arrest of two suspected big-time illegal drugs traffickers in Valenzuela City. Chief Insp. Roque Merdegia, head of the Legal and Investigation division of the Philippine National Police (PNP) Anti-Illegal Drugs Groups (AIDG), said the operation stemmed from a tip they received about the arrival of a shipment ... Read More »

China’s imports from Africa plummet in 2015: officials

CAPE TOWN: China’s imports from Africa fell nearly 40 percent last year, officials said Wednesday, as low commodity prices and slowing growth in the Asian giant hit trade. Imports from the continent fell to 440 billion yuan, some 38 percent lower than in 2014, China’s Customs administration said. Natural resources from Africa such as iron ore and oil have helped ... Read More »