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Author Archives: CT Report

Canada Revenue Agency auditor to be sentenced for soliciting bribe

OTTAWA: The first Canada Revenue Agency auditor to be convicted following a police investigation into alleged corruption at the agency’s Montreal office is expected to learn later this month whether he will serve time behind bars for soliciting a bribe from a restaurant owner. On Thursday, Crown prosecutor Catherine Legault recommended that Francesco Fazio, 58, serve a three-year prison term ... Read More »

Canada Revenue Agency scam hits East Zorra Tavistock

EAST ZORRA TAVISTOCK: Oxford County OPP are warning the public about a popular scam that is making the rounds in East Zorra Tavistock. Police were contacted by a resident who received a phone call from a scammer pretending to represent the Canada Revenue Agency. The resident told police the man was very aggressive on the phone claiming to be a ... Read More »

Nigeria: NCAN targets N80b from cashew export

ABUJA: The National Cashew Association of Nigeria (NCAN) is targeting about N80 billion from cashew export this year, its spokesman, Mr. Sotonye Anga, has said. Anga told News Agency of Nigeria (NAN) on the sideline of the ‘Second Annual Cashew Logistics Meeting’ in Lagos that shipping lines had recognised cashew as revenue generating cash crop and contributor to the country’s ... Read More »

Nigeria: EFCC raids former Customs CG’s residence

ABUJA: Operatives of the Economic and Financial Crimes Commission on raided the residence of a former Comptroller-General of the Nigeria Customs Service, Abdullahi Dikko, in Abuja. The anti-graft personnel were said to have arrived at the house located at 6, Ahmed Musa Crescent, Jabi, at about 7am. The News Agency of Nigeria learnt that Dikko was not at home when ... Read More »

Jamaica economy to grow 2.1% in 2016: World Bank

KINGSTON: The World Bank forecasts 2.1 per cent growth for Jamaica in 2016 while lauding increased consumer confidence amid international lending arrangements. The growth in the island trails the Global forecast of 2.9 per cent but massively beats the regional forecast set at 0.1 per cent for Latin America and Caribbean in 2016. “In contrast, Jamaica saw growth pick up, ... Read More »

Jamaica lifts ban on travelers from Ebola-affected countries

KINGSTON: Government has lifted the ban it introduced more than a year ago on people entering the island from countries affected by the deadly Ebola virus. The Ministry of National Security made the announcement yesterday, saying the decision recently taken by Cabinet followed recent indications from the World Health Organization (WHO) about the reduction of cases worldwide, especially in countries ... Read More »

Jamaica Customs urges importers to adhere to importation regulations

KINGSTON: The Jamaica Customs Agency (JCA) is urging importers to adhere to regulations governing the importation of commercial and non-commercial goods, in order to prevent being breached for contravention of the Customs Laws. According to the CEO/Commissioner of Customs, Major (Ret’d) Richard Reese, the JCA has had to deal with several cases in which persons and entities are found in ... Read More »

Venezuela economy head calls for creativity as oil hits new low

CARACAS: Venezuela’s new economy minister, who has argued that inflation doesn’t exist “in real life,” said policies to be announced on Jan. 12 would seek to avoid sacrifices by ordinary people as the price the South American country receives for oil exports plunges to a 12-year low. “Our goal is to see how we can respond to these external restrictions ... Read More »

Colombia seizes 6,000 gallons of smuggled Venezuelan gasoline

BOGOTA: The Colombian army seized 6,298 gallons (22,710 liters) of contraband Venezuelan gasoline and detained six people on smuggling charges, the military said. The operation was carried out by troops from the Juan Jose Rondon Armored Cavalry Battalion in the northern province of La Guajira, along the border with Venezuela, the army said in a statement. The smugglers offered the ... Read More »

Cuba produces 134 million cigars for export in 2015

HAVANA: Workers of the Internacional Cubana de Tabacos (ICT by its Spanish acronym) produced more than 134 million cigars this year. That figure was the result of hard work and dedication of the group, mostly women, who achieved favorable results in the use of raw materials for making the cigars, using state of art technology. It also stands out the ... Read More »

United Airlines announced to operate flights to Cuba

HAVANA: United Airlines announced it will offer flights between the United States and Cuba as soon as it obtains its permission to operate between the two countries, local media announced. Airlines officials congratulated the two governments for the restoration of air service between the two countries, “an agreement that will strengthen the economic development between both”. Since last Thursday, Washington ... Read More »

Cuba to grant credits to boost agricultural output

HAVANA: The Cuban government will grant credits to Basic Units of Cooperative Production (UBPC) in order to invest in livestock from next January. The news was announced today Ydael Perez Brito, vice minister of agriculture, during the meeting of Food Standing Committee of the National People’s Assembly, held in the Havana´s Conventions Center. The Agriculture official said the funding aims ... Read More »

HTC revenues lowest in 10 years for Dec 2015

WASHINGTON: HTC has reported consolidated revenues of NT$6.517 billion (US$198.1 million) for December 2015, down 36.64% on month and 57.08% on year. The monthly figures were also the lowest level since October 2005. The sharp decline in monthly revenues indicated that sales of its newly released HTC One A9 have been lower than expected since its launch in October 2015, ... Read More »

ASE revenues drop 18% in Dec 2015

WASHINGTON: IC packaging and testing house Advanced Semiconductor Engineering (ASE) has reported consolidated revenues of NT$21.53 billion (US$645.5 million) for December 2015, down 17.9% on month and 13.4% on year. Despite revenue falls in December, ASE’s consolidated sales for the fourth quarter of 2015 increased 3.7% sequentially to NT$75.4 billion. The revenue result was the second-highest quarterly level in the ... Read More »

Algeria’s energy export volumes drop 2.8% in first 9 months of 2015

ALGERIA: Algeria’s energy export volumes dropped 2.8 percent in the first nine months of 2015 due to a fall in output and a sharp rise in domestic consumption, the energy ministry said. Energy exports had fallen in 2014 from the previous year as oil and gas output declined in the North African OPEC member. Algeria, a major gas supplier to ... Read More »

Vietnam’s MobiFone acquires 95% of stake in AVG

HANOI: Viet Nam’s second largest mobile network operator MobiFone has acquired 95 per cent of stake in Audio Visual Global JSC (AVG), an official told local media yesterday after completing negotiations. Deputy General Director Nguyen Manh Hung said the carrier would complete the deal with AVG, owner of An Vien pay TV in the next 3 to 6 months, and ... Read More »

Vietnam business households may soon pay tax online

HANOI: Online tax payment will likely be availabe to individuals and business households in Viet Nam soon with the pilot implementation underway in three major cities. According to the finance ministry, the pilot online tax payment system will be launched in some districts of Ha Noi, Da Nang and HCM City by the year end, in an effort to promote ... Read More »

Vietinbank, PG Bank may combine in Q1 of 2016

HANOI: Vietinbank and PG Bank did not finalise procedures to merge in 2015 as planned, according to Vietinbank’s chairman Nguyen Van Thang. Thang attributed the delay to several reasons including hindrance in administrative procedures. However, he said, the merger will have to be completed in the first quarter this year. The merger will increase Vietinbank’s total assets by VND25 trillion ... Read More »

Ministry of Finance proposes tax rate for two fats for milk

HANOI: The Ministry of Finance has proposed a standard tax rate for anhydrous butter fat (ABF) and anhydrous milk fat (AMF), two different kinds of materials for processing milk products. According to the ministry’s official letter, 87/BTC-TCHQ, sent to Prime Minister Nguyen Tan Dung, the import tax rate of 15 per cent on AMF imposed by the General Department of ... Read More »

Exports of Australian mangoes growing fast to America

CANBERRA: America is looming as a major customer for Australian mangoes and is expected to import up to 200 tonnes this season, compared to just 5 tonnes last year. The first trays for 2016 are due to land in Los Angeles next week, and there to supervise their arrival will be Michael Daysh, a market development officer with the Northern ... Read More »