Thursday , February 27 2020
Breaking News
Home / Author Archives: CT Report (page 3330)

Author Archives: CT Report

Indian gov’t scraps 5% export duty on iron ore pellets

NEW DELHI: The government has reduced export tax levied on iron ore pellets to zero from 5%. The move that will make the commodity more competitive amid subdued demand and weakening prices The government has reduced export tax levied on iron ore pellets to zero from 5%. The move that will make the commodity more competitive amid subdued demand and ... Read More »

Ukraine suffers loss of $600m due to declining export to Russia

UNIAN: Ukraine may lose USD 450-600 million in revenues due to embargo imposed by the Kremlin and a drop in exports to the Russian Federation, Ukraine Trade Representative Nataliya Mykolska has told Ukrainian online newspaper Europeiska Pravda. “But given the export decline dynamics in 2015 (among other things due to Russia’s restrictions on certain goods), we are talking about approximately ... Read More »

Italian equipment exports to hit $3bn in 2015

ROME: Assocomaplast, the Italian trade association for plastic and rubber processing equipment makers, says its member companies may be on their way to a record export sales year once all of the numbers are in for 2015. Assocomaplast’s research office, analyzing foreign trade data, said in a Dec. 23 news release that export sales for the first nine months of ... Read More »

Nigeria’s crude oil export falls by N4.4trn in 2015

ABUJA: A sharp decline was recorded in revenue accruable to the Federal Government from the petroleum sector, as the country’s earnings from crude oil export dropped to N5.271 trillion for the nine month period, January to September 2015. According to data obtained from the National Bureau of Statistics, NBS, the value of Nigeria’s crude oil export for the nine month ... Read More »

Costa Rica revenue from pineapple export falls by 9% in 2015

SAN JOSE: Costa Rica’s fresh pineapple trade suffered a USD72 million reduction in exported value last year, following a difficult production and fewer growers active in the crop. Revenues from exports of fresh pineapple between January-November 2015, at USD728.14 mln, were 9% below the same period in 2014 (USD800.06 mln), according to figures from the National Chamber of Pineapple Producers ... Read More »

FIA arrests three human smugglers including proclaimed offender

LAHORE: The Federal Investigation Agency (FIA) arrested at least three human smugglers including one proclaimed offender in different raids. The FIA arrested Rafi Ahmad from Chenab Nagar, Lalian who used to send people abroad illegally. In another operation, a human smuggler-turned proclaimed offender, Muhammad Hanif Raza was also booked by the Agency. The FIA also apprehended Amjad Hussain from Lahore. ... Read More »

KCCI demands clarification over arrest of AKD Securities’ top executives

KARACHI: President of the Karachi Chamber of Commerce and Industry (KCCI) Younus Muhammad Bashir, while expressing deep concern over the arrest of two top executives of AKD Securities Limited by Federal Investigation Agency (FIA), stated that the business and industrial community of Karachi is deeply shocked over this incident and it was not acceptable at any cost. In a statement ... Read More »

Malaysia authorities foil cigarette smuggling attempt

KUALA KEDAH: The Malaysian Maritime Enforcement Agency’s foiled an attempt to smuggle illicit cigarettes from Langkawi to Kuala Kedah. Langkawi Maritime District 1 Chief Maritime Enforcer First Admiral Zulkarnain Mohd Omar said officers from its Kuala Kedah base, acting on a tip-off, had positioned itself at a location where the smuggling was believed to be taking place. “At 3.50pm, the ... Read More »

Spanish police seize 3 tons of cocaine in drugs bust

BARCELONA: Spanish police said they had seized three tonnes of cocaine and arrested twelve suspected drug smugglers from Spain, Britain and The Netherlands in a major drugs bust in the north of the country. The seizure in the northeastern Galicia region was “the biggest for this type of drug on Galician soil since 1999”, the police said in a statement, ... Read More »

India Customs arrests 4 persons for smuggling gold

NEW DELHI: Four persons, including a ground handling staff, have been arrested in separate incidents at Indira Gandhi International Airport (IGIA) in New Delhi for allegedly trying to smuggle gold valuing about Rs. 2.5 crore into the country. The customs officials said that they have seized 11 kgs of gold in two separate cases reported on Tuesday, in which the ... Read More »

Hong Kong Customs seizes 109 kg of suspected European eel

Hong Kong : Customs seized about 109 kilograms of suspected European eel and arrested three male and one female incoming passengers at Hong Kong International Airport today (January 5). Customs officers conducted Customs clearance on three male and one female passengers separately at the airport this morning. Four passengers arrived Hong Kong from Madrid, Spain via Abu Dhabi, United Arab ... Read More »

Saif bin Zayed honours Director of Dubai Customs

DUBAI: H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, UAE Deputy Prime Minister and Minister of the Interior, has honoured H.E. Ahmed Mahboob Musabih, Director of Dubai Customs , in recognition of Dubai Customs ‘ supporting role to the Customer Service Excellence Diploma. The recognition came during the graduation ceremony of 490 government employees – the second batch of ... Read More »

Ukraine raises customs duties on commodities imports from Russia

KIEV: The resolution of the Cabinet of Ministers of Ukraine on launching of the import duty rates on the imports of commodities from the Russian Federation, and responsive cancellation of the free trade agreement with the country, came into effect, declared the press-service of the Cabinet of Ministers. Since January 2, the import duty preferential rates established by the Ukrainian ... Read More »

Germany launches federal customs administration

BERLIN: The German Government has completed a restructuring of the federal customs administration. The new Central Customs Authority (Generalzolldirektion, or GZD) was launched on January 1 and has taken overall control of customs administration, including the functions carried out by the former customs authorities and the customs-related activities previously carried out by the Ministry of Finance. Finance Minister Wolfgang Schäuble ... Read More »

Germany launches federal customs administration

BERLIN: The German Government has completed a restructuring of the federal customs administration. The new Central Customs Authority (Generalzolldirektion, or GZD) was launched on January 1 and has taken overall control of customs administration, including the functions carried out by the former customs authorities and the customs-related activities previously carried out by the Ministry of Finance. Finance Minister Wolfgang Schäuble ... Read More »

Ghana Customs surpasses target at Kotoka airport

ACCRA: For the first time in seven years, the Kotoka International Airport (KIA) Customs Division of the Ghana Revenue Authority (GRA) has not only met its revenue target, but exceeded it by GH¢7,699,241. The division was able to collect GH¢480,259,241.64 for the year ending December 2015. Its target for the year was GH¢472,560,000. The last time the division met its ... Read More »

India Customs arrest 2 individuals with 2 kg gold at IGI

NEW DELHI: The custom officials have arrested two individuals for allegedly smuggling gold bars weighing 2 kilograms at the Terminal-3 of the Indira Gandhi International (IGI) airport here. Commissioner of Customs at IGI Airport, Sanjay Mangal, stated that they have arrested one Indian national and one International passenger under section 104 of the Customs Act 1962. The seized gold is ... Read More »

Norway’s fish exports rise to $8.35b

OSLO: Norway’s fish exports totalled 74.5 billion kroner (7.75 billion euros, $8.35 billion), more than double the level ten years ago and a rise of eight percent from the record year of 2014, according to the Norwegian Seafood Council. “In a year with trade restrictions in several markets and an import embargo in Russia, the result was better than expected,” ... Read More »

Nigeria Customs set for massive staff shake up

ABUJA: The Comptroller General of the Nigeria Customs Service, Hameed Ali, has approved the redeployment of 69 Comptrollers serving at various commands, including customs HQ in Abuja and various zones of the Nigeria Customs Service. The affected comptrollers include Jubrin Zakari, formerly in charge of Tin Can Island Port, has been moved to the Excise Unit at customs HQ to ... Read More »

Sri Lanka, Pakistan to include services in trade pact

COLOMBO: Sri Lanka and Pakistan have agreed to include services in a bilateral free trade agreement (FTA), Pakistani Prime Minister Nawaz Sharif said. India has been in discussion with Sri Lanka to liberalise the service sector under a trade pact for a Comprehensive Economic Partnership Agreement (CEPA) since early 2000. But Sri Lankan entrepreneurs have strongly opposed such an agreement ... Read More »