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Author Archives: CT Report

Botswana’s diamond exports down 38% in 2015

GABORONE: Exports of diamonds mined in Botswana fell 38% to $2.4-billion last year from $3.9-billion in 2014, the southern African country’s lowest shipment of gems in six years. Data published by the Bank of Botswana on Monday showed that the value of exports from the major diamond mines in Botswana have not been lower since the 2009 global financial crisis ... Read More »

Germany runs up highest trade surplus

FRANKFURT: Germany clocked up its highest-ever trade surplus in 2015 as both exports and imports powered ahead to new records, official data showed on Tuesday. German exports jumped by 6.4 percent to 1.196 trillion euros ($1.3 trillion) in the whole of 2015 and imports advanced by 4.2 percent to 948 billion euros, the federal statistics office calculated. That meant that the ... Read More »

UK trade deficit widens in 2015

LONDON: Britain’s trade deficit worsened in the final quarter of 2015 amid global market turmoil and a slowdown in emerging market growth that has hit exports. The shortfall between exports and imports widened from £8.6bn in the third quarter to £10.4bn, fuelling concerns that UK’s deteriorating trading position will be a drag on GDP growth this year. Figures from the Office ... Read More »

Bank resources rise 10.5% to P11.9 T in Philippine

MANILA: Total resources of banks in the Philippines strengthened further, booking a double-digit growth in end-November amid external shocks brought about by the normalization of the near-zero interest rates in the US as well as the economic slowdown in China. Data released by the Bangko Sentral ng Pilipinas (BSP) showed total resources of the Philippine financial system grew 10.5 percent ... Read More »

Bangladesh’s top phone operator’s revenue reaches $1.33 bln

DHAKA: Bangladesh’s top cell phone operator Grameenphone (GP) on Monday reported a revenue of 104.8 billion taka (about $1.32 billion) for 2015 — up two percent from the previous year. The company, which is listed on the Dhaka Stock Exchange, said subscription and traffic revenue (excluding inter-connection) grew by 2.4 percent along with 3.5 percent growth in device and other revenues, ... Read More »

Russia’s wheat exports expected to increase 7%

MOSCOW: Russia’s unfavorable dry weather conditions last autumn during planting of the winter cereal crops for harvest in July-August 2016, resulted in the irregular emergence of some crops, according to a Feb. 3 GIEWS Country Brief from the Food and Agriculture Organization of the United Nations (FAO). However, precipitation in November somewhat improved moisture and crop conditions before dormancy and ... Read More »

Kuwait bans imports of live birds from UK

KUWAIT CITY: The Public Authority for Agricultural Affairs and Fish Resources (PAAAFR) banned on Monday imports of live birds, eggs and oneday- old chicks from the UK because of the outbreak of the pathogenic H5N1 bird flu. PAAAFR in a statement stressed the importance of subjecting all incoming consignments to PAAAFR’s requirements and restrictions, in line with the relevant procedures ... Read More »

Russia-Turkey trade contracted 25% in 2015

MOSCOW: Trade turnover between Russia and Turkey fell to $23 billion last year and will continue to fall in the future, according to Russia’s Ambassador to Turkey Andrey Karlov. Karlov added that trade between Moscow and Ankara this year is continuing to slide. “In January, the volume of Turkish exports to Russia fell by two-thirds, and there is also the ... Read More »

China imports sunflower seed from Kazakhstan

BEIJING: According to official data, since the beginning of the 2015/16 season sunflower seed exports from Kazakhstan reached 63.6 KMT that was more than 100% higher than during the same period in season 2014/15 being a record exports figure. Almost half of the exported sunflower seed was supplied to the neighboring China in September-December (30 KMT). The remaining sunflower seed ... Read More »

Value of exports from Finland to Russia continue to drop in 2015

HELSINKI: The value of exports from Finland to Russia continued to plummet in 2015, suggest preliminary statistics published by the Finnish Customs on Monday. The Finnish Customs reported that the value of exports to Russia fell sharply across all categories of export goods, by a total of 34 per cent year-on-year between January and November of 2015. The fall was ... Read More »

Iraq raises March OSP for Basra Light crude to Asia

BAGHDAD: Iraq has raised the March official selling price (OSP) for Basra Light crude to Asia by $0.20 to minus $2.60 a barrel against the average of Oman/Dubai quotes from the previous month, the State Oil Marketing Organization (SOMO) said. Basra Heavy to Asia in the same month was priced at minus $6.30 a barrel to Oman/Dubai quotes, SOMO said ... Read More »

Kh Tanveer Ahmad takes helm of I&I-IR as director general

ISLAMABAD: Khawaja Tanveer Ahmad, a BS-21 officer of Inland Revenue Service, has assumed the charge of post of Director General, Directorate General of Intelligence and Investigation (IR), Islamabad. Kh Tanveer, pursuing the Board’s Notification No. 0305-IR-I/2016 dated 06.02.2016, relinquished the charge of the post Director General, Directorate General of Internal Audit (IR), Islamabad, with effect from February 08. Read More »

Haroon Tareen takes charge as Director General (WHT)

ISLAMABAD: Haroon Muhammad Khan Tareen, a BS-21 officer of Inland Revenue Service, has assumed the charge of the post of Director General (WHT), Federal Board of Revenue (HQ). Tareen, in pursuance of Board’s Notification No. 0305-IR-I/2016 dated 06.02.2016, has relinquished the charge of the post of Director General, Directorate General of Intelligence and Investigation (IR), Islamabad, with effect from February ... Read More »

Kh Adnan takes charge as Lahore Chief Commissioner-IR (OPS)

ISLAMABAD: Khawaja Adnan Zahir, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Chief Commissioner-IR (OPS), Regional Tax Office-II, Lahore. Zahir, in pursuance of Board’s Notification No. 0305-IR-I/2016 dated 06.02.2016, relinquished the charge of the post of Director General (OPS), Federal Board of Revenue (HQ), Islamabad, with effect from February 08. Read More »

Wajid Akram assumes charge as Lahore Commissioner-IR (WHT)

ISLAMABAD: Wajid Akram, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR (WHT), Regional Tax Office-II, Lahore. The officer, in pursuance of Board’s Notification No. 0253-IR-I/2016 dated 29.01.2016, relinquished the charge of the post of Commissioner-IR (Zone-VII), Regional Tax Office-II, Lahore, with effect from February 04. Read More »

Dr Sarmad takes charge as Lahore Commissioner-IR (Zone-VII)

ISLAMABAD: Dr Muhammad Sarmad Qureshi, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR (Zone-VII), Regional Tax Office-II, Lahore. Qureshi, pursuing the Board’s Notification No. 0253-IR-I/2016 dated 29.01.2016, assumed the charge of the said post with effect from February 04. Read More »

IKEA boosts South Korean furniture market

SEOUL: Since IKEA entered the retail sector in South Korea in 2015, the furniture market got explosive sales. Thus, as Yonhap, the South Korean news agency reported, it started a competition with local retailers, according to La Prensa. Statistics Korea released a report saying that the sales in retail furniture increased by 7% since 2014, with $4.15 billion earings, recording ... Read More »

Ziaullah Khan assumes charge as Secretary (Litigation-Management)

ISLAMABAD: Ziaullah Khan, a BS-19 officer of Inland Revenue Service, has assumed the charge of the post Secretary (Litigation-Management), Federal Board of Revenue (HQ). The officer, in pursuance of Board’s Notification No. 0257-IR-I/2016 dated 29.01.2016, relinquished the charge of the post of Additional Commissioner-IR, Regional Tax Office, Islamabad, with effect from February 08. Read More »

Performance allowance of Dy Collector Shoaib restored

ISLAMABAD: Performance allowance in respect of Muhammad Shoaib Qazi, a Pakistan Customs Service officer of BS-18, has been restored. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the officer, presently posted as Deputy Collector, Model Customs Collectorate, Quetta, has been restored with effect from November 25, 2013. Read More »

Sardar Zafar relinquishes charge as Legal Wing secretary

ISLAMABAD: Sardar Zafar Mahmud Khan, a BS-19 officer of AJK (IT) Group, has relinquished the charge of the post Secretary (Automation), Legal Wing, Federal Board of Revenue (HQ). The officer, in pursuance of Board’s Notification No. 0253-IR-I/2016 dated 29.01.2016, relinquished the charge of the post the said post with effect from February 08. Read More »