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Author Archives: CT Report

Mumbai Customs seizes gold worth Rs 1.43cr at airport

MUMBAI: The Air Intelligence Unit of Mumbai Customs on Tuesday apprehended two persons at the Mumbai international airport and recovered 57.40kg of gold valued at around Rs 1.34 crore, from them. “The gold was concealed in various items such as watch dial, pen refills, bra hooks, foils and handles of bag, coat hooks, shoe buckles and sandals,” said customs commissioner ... Read More »

Exports of India’s engineering products may fall to $60b

KOLKATA: Exports of India’s engineering products may slip to about $60 billion in the current fiscal from more than $70 billion last year despite 7-8 per cent depreciation of the rupee against the US dollar, according to an EEPC India review, which blamed the downturn on the sharp erosion in commodity prices worldwide. Engineering products account for about 23 per ... Read More »

Kenya Revenue Authority back new values verification for import cargo

NAIROBI: Importers will from Saturday have their cargo shipped back to country of origin if they fail to comply with the new import standard rules, Kenya Revenue Authority announced in a public notice yesterday. This follows the expansion of the Pre-Export Verification of Conformity to standards programme to cover all imports to Kenya, in a move aimed at curbing sub-standard ... Read More »

Kuwait police arrest couple with meth, heroin

KUWAIT CITY: A Kuwaiti man and an Arab woman in their 30s were caught in Rumaithiya area for smuggling of Shabu and heroin after committing a traffic offense. The officers were on routine patrol when they spotted the citizen driving in a reckless manner and ordered him to pull up for questioning. The police realized the suspects were not coherent ... Read More »

Kuwait Customs nabs three for possession of 14 bullets

KUWAIT CITY: Kuwait customs officers arrested three citizens in Nuwaiseeb Border for the possession of 14 bullets, sources said here the other day. The three citizens were referred to the concerned security department for interrogation and other legal measures. Read More »

PM to inaugurate National Health Programme on 31st: Saira

ISLAMABAD: Minister of State for National Health Services, Regulations and Coordination Saira Afzal has said that Prime Minister Nawaz Sharif will inaugurate the National Health Programme on December 31. Speaking in the Senate, she said that it is the responsibility of State to provide quality health facilities to the citizens. The minister said the programme, she said, was aimed at ... Read More »

Qatar banks’ assets rise 2.6% to QR1.11 trillion in Nov

DOHA: Qatar banks’ assets (and liabilities) increased QR27.9bn, or 2.6 percent, to QR1.11 trillion in November, compared with QR1077.9bn recorded in the previous month. The government and public sector deposits touched QR220.7bn, a decrease of QR11.4bn, in November. Qatar’s total domestic public debt increased by QR9.1bn to QR356bn, The Group Securities noted in its reading of the changes in the ... Read More »

ANF seizes 5.1 tons hashish worth Rs12.3 billion

ISLAMABAD: The Anti-Narcotics Force (ANF) has seized mega cache of hashish weighing 5,129 kg (5.12 ton), having Rs12.3 billion value in international market. The successful intelligence led operation at Qilla Abdullah was carried out by ANF Quetta. The drug consignment was secretly stocked in a seasonal stream situated in desolate area of Killi Haji Khudaidad, Tehsil Gulstan, District Qilla Abdullah. ... Read More »

FAO secures $10m to help farmers in Kenya

NAIROBI: The Food and Agriculture Organization (FAO) on Tuesday disclosed that it has secured 1 billion shillings ($10 million) to help farmers in Kenya access markets for their produce. The UN agency disclosed that the funds from the European Union will be used in an ambitious programme that links farmers in rural Kenya to their markets both at home and ... Read More »

Oilseed mills recommend Govt to cut import duty on crop

MUMBAI: The oilseed crushing sector has urged the government to reduce the import duty on the crop from 30 per cent to five per cent. Oilseed production in the country is declining consistently because of climatic conditions and farmers switching to alternative crops. Output has slumped 19 per cent to 26.68 million tonnes in July 2014-June 2015 from 32.84 million ... Read More »

Agriculture imports forecast down in China

BEIJING: Agriculture imports may not be so good for China in the new year. CoBank’s Knowledge Exchange Division says in a new report, China has a multiyear high supply of commodities. The report blames China’s subsidization of its agricultural sector, which has yielded a huge stockpile and strained storage capacity. China has subsidized the ag sector to an extent that ... Read More »

Import of cargo in Tiruchi airport remains negligible

NEW DELHI: xport cargo from Tiruchi international airport is on upswing since the commissioning of the international freight complex while the scenario on the import side is not so bright. Import of cargo in Tiruchi, a fast growing airport, has remained negligible over the years notwithstanding steady rise in the number of foreign airlines operating services to select overseas destinations ... Read More »

Khattak approves proposals to build theme park, health city in KP

PESHAWAR: Chief Minister Pervez Khattak has endorsed the proposals of Khyber Pakhtunkhwa Economic Zones Development and Management Company for establishment of a water theme park and a health city. KPEDMC Chairman Ghulam Dastagir briefed the chief minister on the utility of the projects and the facilities to be provided to the public in the proposed schemes here, said a handout. ... Read More »

Singapore GDP growth likely slowed to 1.3% YoY in Q4

SINGAPORE: Singapore’s economic growth probably slowed in the fourth quarter as sluggish global demand weighed on the manufacturing sector, a Reuters poll showed. Gross domestic product (GDP) likely expanded 1.3 per cent in the fourth quarter from a year earlier, moderating from 1.9 per cent year-on-year growth in the third quarter, according to the median forecast in the survey of ... Read More »

Malaysia Customs seizes smuggled fireworks worth RM90,000

PM KOTA BARU: Rantau Panjang Customs preventive team foiled a plan to smuggle fireworks worth over RM94,000 to Klang Valley when they detained a lorry driver in Kampung Guntong Dalam in Setiu, Terengganu on Sunday. Kelantan Customs deputy director, Mohd Nasir Yusof said the lorry assistant, however, managed to flee in the 9.15pm incident. He said following a tip off, ... Read More »

Six development projects worth over Rs2.5b approved for Punjab

LAHORE: The Punjab government has approved six development projects of different sectors with an estimated cost of Rs2,520.676 million (more than Rs2.5 billion). Planning & Development Department approved these projects in the 20th meeting of Provincial Development Working Party (PDWP) of current fiscal year 2015-16, presided over by P&D Board Punjab Chairman Muhammad Jahanzeb Khan. Provincial Secretary P&D Iftikhar Ali ... Read More »

India offers to step up crude oil imports from Iran

NEW DELHI: India offered to step up crude oil imports from Iran as soon as sanctions imposed by the West are lifted early next year. The offer was made at a high-level meeting in the capital on Monday between external affairs minister Sushma Swaraj and visiting Iranian minister of economic affairs and finance Ali Tayyebnia. A person privy to the ... Read More »

Zimbabwe bank savings grow 8% in 10 months to Oct

HARARE: Martin Kadzere Senior Business Reporter BANK savings grew 8 percent in the 10 months to October this year to $2,57 billion from $2,38 billion in the same period a year ago, latest statistics from the Reserve Bank show. The savings comprise all deposits other than demand deposits. Analysts say that despite the growth, Zimbabwe’s saving culture remains weak largely ... Read More »

Customs Assist Private Secretary Fazal promoted

ISLAMABAD: Fazal-ur-Rehman Iftikhar, an Assistant Private Secretary (BS-16), Directorate General of Internal Audit (Customs), Islamabad, has been promoted to the post of Private Secretary (BS-17) with immediate effect. According to the notification, the officer will be on probation for a period of one year, extendable for further period, not exceeding one year, provided that if no order is issued by ... Read More »

Zimbabwe Stock Exchange benchmark index fall

HARARE: The Zimbabwe Stock Exchange benchmark index closed the day in the red as it retreated 0.16 points to close at 114.17 points. COLCOM was the top shaker as it lost 3.17 cents to trade at 17.90 cents. SEEDCO went down by 1.25 cents to trade at 83.75 cents. Other losses were in DELTA which dropped 0.33 cents to 70.98 ... Read More »