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Author Archives: CT Report

Interpol seizes $9.8m worth of fake, illegal medicine

SINGAPORE: Singapore was among 13 Asian countries that participated in a multinational operation led by Interpol which seized more than $9.8 million worth of fake and illegal medicine. The month-long Operation Storm VI saw the arrest of 87 individuals and the investigation of nearly 500 pharmacies and markets, as well as some 100 illicit online pharmacy websites, Interpol announced yesterday. ... Read More »

UAE police seize Iranian ship for smuggling drugs, people

SHARJAH: A crew of 10 on an Iranian ship trying to smuggle people and drugs into the UAE were arrested and their crime thwarted, officials said. The ship was stopped at Khalid Port in Sharjah and 11.5 kilograms of hashish and 142,725 narcotic pills were seized, along with two people found hiding in a tank in the hull hoping to ... Read More »

Interpol seize 4.5 tonnes of ivory in huge operation

PARIS: Operation Worthy II mobilised police forces in 11 countries from January until October: Ethiopia, Kenya, Malawi, Mozambique, Namibia, South Africa, Sudan, Swaziland, Tanzania, Uganda and Zambia, the international police organisation said in a statement. The operation saw 25 trafficking groups disbanded, while thousands of illegal wildlife products were seized including more than 2,000 pangolin scales and 173 live tortoises. ... Read More »

India authorities seize foreign cigarettes worth Rs 1.58 crore at Kochi Port

KOCHI: Foreign cigarettes worth Rs. 1.58 crore have been seized by custom officials from two containers which arrived at the port here from Dubai, making it the biggest such seizure in Kerala so far. While cigarettes worth Rs. 91 lakh was seized today from a container, cigarettes worth Rs. 67 lakh were confiscated in another seizure last week, Customs Commissioner ... Read More »

Interpol seizes fake medicine worth $7m in Asia

LYON: Interpol seized counterfeit drugs worth $7 million in September in an operation encompassing 13 Asian countries, the international police organization said Monday. Medication including antibiotics, anti-hypertension pills and even rabies vaccines were taken from hundreds of pharmacies and markets, including dozens of online pharmacies, as Interpol attempts to curb the widespread sale of fake drugs being produced in the ... Read More »

Silver imports drop 71.3% in first 4 months of fiscal year

KATHMANDU: The bullion market is low on silver due to a restriction on imports, said traders. Silver imports dropped 71.3 percent in the first four months of the fiscal year, according to the Trade and Export Promotion Centre (TEPC). Nepal imported Rs3.08 billion worth of the metal during the review period, down from Rs10.73 billion during the same period last ... Read More »

Iceland’s consumer price inflation remains steady in Dec

REYKJAVIK: Iceland’s consumer price inflation held steady in December after accelerating in the previous month, figures from Statistics Iceland showed Tuesday. The consumer price index climbed 2.0 percent year-over-year in December, the same rate of increase as in November. In October, prices had risen 1.8 percent. Excluding housing costs, consumer prices edged up 0.1 percent annually and by 0.3 percent monthly ... Read More »

Ukraine telecom firm acquires $50m loan from Chinese bank

KIEV: Ukrainian major telecommunications operator Ukrtelecom has announced a $50 million loan deal with China Development Bank for upgrading telecommunications network in Ukraine. “At the first stage of the long-term partnership, Ukrtelecom expects to receive first export credit amounting 50 million U.S. dollars,” the Ukrainian company said in a statement on its website. China Development Bank is the country’s biggest ... Read More »

Nigerian Shippers Council bans on ports fee collection

ABUJA: The Nigerian Shippers Council (NSC) has banned   professional fees collection by all associations at the ports. Its Executive Secretary Hassan Bello, who gave the order at a Town Hall meeting with stakeholders at Eastern Ports, Port Harcourt yesterday said the proper place for such revenue drive is the organisation’s secretariat. Represented by the Deputy Director, Compliance, Monitoring and Enforcement, ... Read More »

Dar discusses Pak-funded projects with Afghan envoy

ISLAMABAD: Afghan envoy Janan Mosazai called on Finance Minister Mohammad Ishaq Dar here on Tuesday. The ambassador on the occasion conveyed to the Minister good wishes and compliments from the Afghan President and also communicated President’s desire for early completion of the projects that Pakistan is undertaking in Afghanistan as a goodwill gesture. In particular, Janan Mosazai conveyed the desire ... Read More »

Banks set up renewable infrastructure council in Japan

TOKYO:  The Joyo Bank Ltd (TYO:8333) will become the bureau of a regional infrastructure promotion council, set up by five Japanese financial institutions to spur renewable energy and infrastructure investments in the country. Hyakujushi Bank Ltd, Juroku Bank Ltd, Nanto Bank Ltd and Yamaguchi Financial Group Inc are Joyo Bank’s partners in the scheme, the latter said in a press ... Read More »

Japan’s economy sets to increase 1.7% in 2016

TOKYO: Japan’s economy, the third largest in the world, would grow about 1.7% in real terms in fiscal year 2016 starting April, according to the government forecast. Japan’s gross domestic product (GDP), in nominal terms, will likely expand around 3.1% in the next fiscal year to around $4.3 trillion, Xinhua cited the forecast, led by recovering consumer spending and capital investment, ... Read More »

NZ dollar climbs over 68 US cents in light holiday trading

WELLINGTON: The New Zealand dollar climbed above 68 US cents in light holiday trading after weaker-than-expected US data sapped demand for the greenback, while local figures on Monday supported the local economic outlook. The kiwi rose to 68.06 US cents at 5pm in Wellington from 67.67 cents at 8am and 67.49 cents on Monday. The trade-weighted index increased to 74.02 ... Read More »

National Tyres Services records 10% decline in revenue

HARARE: National Tyres Services Limited (NTS) recorded a 10 percent decline in its revenue to $6,7 million for the half year ended September 30, 2015. During the comparable period last year, NTS posted $7,5 million revenue. In a statement accompanying NTS financial results for the period under review, the company’s chairman James Moyo attributed the drop in revenue to the ... Read More »

Korea central bank 2015 GDP growth 2.7%

SEOUL: South Korea’s central bank said the fiscal health of the country’s household sector has worsened slightly as debt growth outpaced income growth in the second half of the year. The Bank of Korea said in a biannual report on financial stability that household debt had increased substantially on continued activity in the housing market. “Household income growth has lagged debt ... Read More »

Russia offers to ban import of 70-80% of industrial goods from Turkey

MOSCOW: Russia’s Ministry of Industry and Trade has proposed to ban import of 70-80% of light industrial goods from Turkey, Deputy Minister Viktor Evtukhov told TASS on Tuesday. “70-80% of Turkish import of light industrial [goods] is what we can easily replace, it’s not a very big [volume] of import – €1.1 bln as it [accounts for] 6% of total imports,” ... Read More »

1,000MW to be produced thru wind corridor by 2018

ISLAMABAD: Pakistan will be producing about 1,000-megawatt electricity through wind corridor by 2018 as more investors are showing interest in this source of energy generation. Pakistan’s wind corridor in district of Thatta has potential to generate up to 50,000MW electricity which will be sufficient to meet power demands for years, Plants Foundation Wind Energy Limited General Manager Col (R) Muzaffar ... Read More »

KPT shipping movement report

KARACHI: Following were the movement of ships at Karachi Port during the last 24 hours, ending at 0700 hours on Tuesday. SHIPS SAILED: APL Pearl Cont X-Press Euphrates Cont Kota Naluri Cont M.T Karachi Tanker KMTC Mumbai Cont Stolt Botan Tanker M.T Lahore Tanker SHIPS BERTHED: X-Press Kailash Container Ship Nicolaos A Fertilizer Jia Long Shan General Cargo Chemroad Tanker ... Read More »

Qatar National Bank to acquire Finansbank for $2.95b

DOHA: Qatar National Bank Tuesday agreed to buy a Turkish subsidiary of the National Bank of Greece for $2.95 billion (2.7 billion euros), describing the acquisition as a “milestone” deal. Under the terms of the prospective sale, QNB will buy NBG’s entire stake of 99.8 percent in Finansbank. The deal is subject to regulatory approval. “This transaction is a significant ... Read More »

FBR collected Rs1,209b till 21st with 30% growth

ISLAMABAD: Federal Board of Revenue (FBR) collected Rs1,209 billion revenues up to December 21 from the start of current fiscal year against the collections of Rs1,030 billion taxes were collected in the same period of last fiscal, showing an increase of 30 percent. Member Strategic Planning Reforms and Statistics (SPR&S) and Spokesman for FBR Dr Muhammad Iqbal Tuesday told APP ... Read More »