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Author Archives: CT Report

Malaysia Customs estimates 100,000 companies not registered for GST

KUALA LUMPUR: Customs director-general Datuk Seri Khazali Ahmad said an operation called “Ops Jejak GST 2016” would be held from January 17 onwards, involving 1,500 enforcement officers. “This is the first large-scale operation launched this year where our goal is to educate, not punish,” Khazali said at the Customs headquarters in Putrajaya. “We are doing this so that our officers ... Read More »

Thai Customs considers cutting import duties on luxury goods

BANGKOK: The Customs Department is considering decreasing import duties on luxury items like clothing and accessories to make shopping cheaper. Director Kulit Sombatsiri said the department will study the the pros and cons of a import duty cut and ensure it will not affect local businesses. As a result, it may reduce import duties for certain products which are not ... Read More »

Saudi Customs seizes 1,000s of banned religious items

RIYADH: Saudi customs officials have managed stop over 1,000 attempts to smuggle religious materials into the country over the past two years. Arab News reported that customs officials seized a total of 101,296 books and religious tapes that are banned from entry for containing violating content. In new figures released this week, Saudi officials also said that customs officers have ... Read More »

India Customs seizes 15 kg gold at Delhi airport

NEW DELHI: About 15 kg of gold, valued about Rs 4 crore, has been seized by the Customs department from passengers who were trying to smuggle them in at the Delhi airport, Customs officials said. A passenger from Dubai was caught by the Customs officials with 2 gold bars weighing 2 kg following intelligence inputs. The same night, the officials ... Read More »

Turkish exports decline 8.7% for 2015

ANKARA: Turkey’s exports for 2015 showed a decline of 8.7 per cent compared with the previous year, falling to US$144bn, according to data from the Exporters’ Assembly of Turkey (TIM). TIM attributed the disappointing result to fluctuations in parity, decreasing commodity prices and ongoing political conflicts, not least the recent rift between Ankara and Moscow. Since Russia banned many imports ... Read More »

Customs seizes 1 kg gold from seat panel of private airlines in Kolkata

KOLKATA:  One kg gold, valued at Rs 26 lakh, was seized from a private airlines flight after it arrived at Netaji Subhas Chandra Bose International Airport in Kolkata from Bangkok today. An airport customs official said the gold was found concealed in the side panel of a seat while screening the aircraft. There were no claimants for the gold, he ... Read More »

Sales of imported cars in S. Korea jump 24.2% in 2015

SEOUL: Sales of imported cars in South Korea jumped 24.2 percent in 2015 from a year earlier, driven by a marked growth in demand for European car brands, industry data showed Thursday. According to the data by the Korea Automobile Importers and Distributors Association, 243,900 foreign vehicles were newly registered in the country last year, compared with the previous year’s ... Read More »

North Korea imports $2.09b worth of luxury goods for 3 years

SEOUL: North Korea imported $2.09 billion worth of luxury goods for three years under the Kim Jong-un regime despite United Nations sanctions banning the transfer of such goods to the country, a South Korean lawmaker said Thursday, citing Chinese customs data. Luxury goods, including certain kinds of jewelry, precious stones, carpets, yachts, luxury automobiles and racing cars, have been banned ... Read More »

Abu Dhabi Ports sets new annual cargo volume record in 2015

WASHINGOTN: Abu Dhabi Ports, the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate, set a new annual cargo-volume record in 2015, surpassing the previous record set in 2014. The company witnessed significant surge in volumes during the year in all major sectors, namely container cargo, general and bulk cargo, Roll-on-roll-off (RORO), and cruise tourism; ... Read More »

West Coast ports increases 1% volume in Nov

WASHINGTON: After struggling all year with cargo diversion due to labor problems, West Coast ports in November finally turned the corner, registering gains in all categories of container throughput. Numbers posted on the Pacific Maritime Association website for laden containers show that total container throughput at West Coast ports in November increased 1 percent over November 2014. Imports were up ... Read More »

Huawei revenue rises 70% YOY

LONDON: It appears Chinese mobile maker Huawei Technologies isn’t only a favorite in its home market, but overseas as well. The Shenzhen-based tech giant has revealed it shipped 108 million smartphones in 2015, exceeding its own expectations with a 44 percent increase in sales, compared to 2014. On top of that, Huawei’s revenue rose to over $20 billion, an increase ... Read More »

US chemical shipment values rise for seventh time in past 8 months

HOUSTON: US chemical shipment values in November rose for the seventh time in the past eight months, nearing a two-year high, according to data released on Wednesday by the US Department of Commerce. In 2015 through November, chemical shipment values increased in every month since March except for a slight dip in October. The value of US-made chemicals shipped increased ... Read More »

Macronix posts 6.6% revenue declines in 2015

LONDON: Macronix International has reported consolidated revenues of NT$20.93 billion (US$628 million) for 2015, representing a 6.6% decrease compared with the NT$22.41 billion posted for 2014. Macronix saw its December revenues decline 12.1% sequentially to NT$1.72 billion. Compared to December 2014 when the company generated revenues of NT$1.68 billion, the figure showed a 2.6% increase. Macronix specializes in the manufacture ... Read More »

Yageo revenues fall 14.6% for Dec

WASHINGTON: Yageo, a manufacturer of MLCCs and chip resistors, has reported consolidated revenues for December fell 14.6% sequentially to NT$1.97 billion (US$59.3 million). December sales increased in North America, while sales decreased in the Greater China, Europe and Asia Pacific regions compared to the previous month, the company said. In terms of product applications, December sales softened across all segments ... Read More »

Powertech Technology Inc reports revenue increase for Dec

WASHINGTON: Powertech Technology Inc (PTI) has reported consolidated revenues of NT$3.973 billion (US$119.49 million) for December 2015, representing a 4.39% drop on month and 24.9% increase on year. The company has totaled NT$42.524 billion in year-to-date revenues, up 6.2% compared with the same time last year. For the year of 2014, PTI totaled NT$40.039 billion in consolidated revenues, up 6.47% ... Read More »

Adata Technology revenues increase sequentially in Dec

WASHINGTON: Memory module maker Adata Technology has reported revenues of NT$1.829 billion (US$54.96 million) for December 2015, up 6.68% on month but down 22.96% on year. DRAM products accounted for 35.04% of the company’s total sales in December, while NAND flash and other products made up the remaining 64.96%. Revenues for the fourth quarter of 2015 totaled NT$5.216 billion, increasing ... Read More »

Tuna exports expected to increase by 8% in 2016

HCM CITY: Tuna exports are expected to increase by 8 per cent this year to US$507 million, according to the Viet Nam Association of Seafood Producers and Exporters (Vasep). Vasep deputy chairman Nguyen Hoai Nam said tuna exports fetched nearly $470 million last year, with fresh and frozen fish accounting for 54 per cent. The exports went to 105 markets, ... Read More »

FBR’s achieves 99.6% of tax-collection target: NA told

ISLAMABAD: The government has achieved 99.6 percent tax collection target during the fiscal year 2015-16. This was revealed by Parliamentary Secretary for Finance Rana Muhammad Afzal on Thursday, while replying to a question of Sheikh Salahuddin regarding the tax collection targets in the National Assembly. The parliamentary secretary said that target was achieved to the extent of 99.6 per cent ... Read More »

FIA arrests another human trafficker from Islamabad airport

ISLAMABAD: The Federal Investigation Agency’s Immigration Department Thursday arrested a human trafficker, who is also a proclaimed offender, while trying to flee the country from Benazir Bhutto International Airport. According to the sources, alleged human smuggler, identified as Ehtsham ul Haq, was bidding to board a flight No PK-741. The accused is husband of PIA air hostess and used to ... Read More »

SEA demands slash 5-10% in oilseeds import duty

NEW DELHI: Industry body SEA has sought slashing of import duty on oilseeds like mustard to 5-10 per cent from 30 per cent to boost edible oil supplies to local markets and oilmeal crushers. A sharp decline in domestic oilseeds output and crushing has encouraged edible oil imports, while discouraging exports of oilmeal, it said. In fact, export of oilmeal ... Read More »