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Author Archives: CT Report

UAE banks set to profit from Iran’s rebound

DUBAI: Lifting of economic sanctions on Iran could be a boon for the UAE banks that have close ties with businesses in Iran according to the Institute of International Finance (IIF). “The UAE and Lebanon would benefit from the economic rebound in Iran. Given Lebanon’s financial skills and regional ties, it could play an important role in the future financing ... Read More »

Pak rupee devalues by 15 paisas in cash-free market

KARACHI: The Pakistani rupee Friday lost value against the American currency in open market and remained unchanged in interbank. According to the local money market, the dollar added 15 paisas in the cash-free market to reach 106.50 and remained firm in interbank at 104.70. On Thursday, the American currency gained five paisas in the cash-free market for selling at 106.35 ... Read More »

Hong Kong Shanghai stocks fall in first few minutes of trade

HONG KONG: Shanghai stocks fell in the first few minutes of trade Friday after clocking up a near two percent gain the day before while Hong Kong also retreated despite a strong rally in US markets. The benchmark Shanghai Composite Index fell 0.65 per cent, or 19.60 points, to 2,988.05, while the Shenzhen Composite Index, which tracks stocks on China’s ... Read More »

Shipping intel report of Karachi Port

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Friday. ALONG SIDE (Bulk Oil Pier): OP-I Formosa Falcon D.Petrol Alpine 12/01/16 OP-II Golden Convenant D.Palm Oil Alpine 13/01/16 OP-III Lahore D.Crude Oil PNSC 13/01/16 ALONG SIDE (East Wharves): 1 Oriental Freesia L.Ethanol East Wind 14/01/16 2/3 Mp Panamax 6 ... Read More »

KPT’s shipping movement report

KARACHI: Following were the movements of ships at Karachi Port Trust (KPT) during the last 24 hours, ending at 0700 hours, on Friday. SHIPS SAILED: APJ Shirin Ever Unique SHIPS BERTHED: JS Comet General Cargo Brahman Express Carrier Hyundai jakarta Container Ship EXPECTED SAILING DATE Formosa Falcon 15/01/16 MP Panamax 6 15/01/16 Wieland 15/01/16 Wan Hai 503 16/01/16 Bahamas 16/01/16 ... Read More »

Nadir Mumtaz charge as Chief (IT)

ISLAMABAD: Nadir Mumtaz Warraich, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Chief (IT), Federal Board of Revenue (HQ). The officer, in pursuance of Board’s Notification No.0055-IR-I/2016, dated 08.01.2016, assumed the charge of the post of Chief (IT), FBR (HQ), Islamabad, with effect from January 13. Imtiaz Ahmad, a BS-19 officer of Inland ... Read More »

Sri Lanka sets to release all 104 Indian fishermen

COLOMBO: Sri Lanka is set to release all the 104 Indian fishermen from its prisons in view of Pongal which is being celebrated in Tamil Nadu today. Tamil Nadu Chief Minister J.Jayalalithaa said that Sri Lanka has already released 55 of them and handed over to the Indian consulate officials at Jaffna. In a statement issued in Chennai, she said, the ... Read More »

Addl Commissioner-IR Irshad given additional charge of Iris project director

ISLAMABAD: Irshad Hussain, a BS-19 officer of Inland Revenue Service, presently posted as Additional Commissioner-IR, Regional Tax Office-II, Lahore, has been assigned the additional charge of the post of Project Director (Iris) in addition to his own duties, with immediate effect. As Project Director (Iris), he will coordinate all activities related to smooth functioning of Iris including resolution of operational ... Read More »

Four Commissioners-IR (OPS) takes charge

ISLAMABAD: Four Inland Revenue Service officers of BS-19 have relinquished/assumed the charge as Commissioners-IR (OPS) in different cities. Muhammad Khalid Malik assumed the charge of the post of Commissioner-IR (OPS), Inland Revenue (Appeals), Faisalabad. Muhammad Jamil Bhatti assumed the charge of the post of Commissioner-IR (OPS) (Zone-II), Regional Tax Office, Sialkot after relinquishing the charge of the post of Additional ... Read More »

National Australia Bank’s UK subsidiary sees strong growth

CANBERRA: National Australia Bank’s UK subsidiary has seen strong quarterly growth, ahead of a planned spinoff. Clydesdale Bank’s trade in the three months to December 31 has met the group’s expectations with its loan book maintaining 6.6 per cent annualised growth in mortgages, a NAB statement said on Friday. There was good growth in owner occupied loans, and lending balances ... Read More »

Abdul Wahid takes charge as Commissioner-IR

ISLAMABAD: Abdul Wahid Uqaily, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR, (Zone-IV), Regional Tax Office, Karachi. The officer, pursuing the Board’s Notification No.0055-IR-I/2016, dated 08.01.2016, assumed the charge of the said post with effect from January 12. Meanwhile, Mohammad Farooq Azam Memon, a BS-20 officer of Inland Revenue Service, has relinquished ... Read More »

Ghulam Mujtaba assumed charge as Commissioner-IR, (BTB) in Sialkot

ISLAMABAD: Ghulam Mujtaba Bhatti, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR, (BTB), Regional Tax Office, Sialkot. The officer, in pursuance of Board’s Notification No.0055-IR-I/2016, dated 08.01.2016, relinquished the charge of the post of Commissioner-IR, (Zone-II), Regional Tax Office, Sialkot, with effect from January 12. Read More »

Dr Tauqeer, Tariq Arbab take charge as Commissioners-IR, (Appeals)

ISLAMABAD: Dr Tauqeer Ahmad Memon, a BS-20 officer of Inland Revenue Service, has assumed the charge of the post of Commissioner-IR, (Appeals) Inland Revenue, Hyderabad. The officer, in pursuance of Board’s Notification No.0055-IR-I/2016, dated 08.01.2016, relinquished the charge of the post of Commissioner-IR, (Zone-I), Regional Tax Office, Hyderabad, with effect from January 11. Meanwhile, Muhammad Tariq Arbab, (IRS/BS-20), relinquished the ... Read More »

Platinum Group posts loss of $634,000 in Q1

VANCOUVER: Platinum Group Metals Ltd. (PLG) on Thursday reported a loss of $634,000 in its fiscal first quarter. The Vancouver, British Columbia-based company said it had a loss of less than 1 cent on a per-share basis. In the final minutes of trading on Thursday, the company’s shares hit 13 cents. A year ago, they were trading at 46 cents. Read More »

Three Addl Commissioners-IR assume charge

ISLAMABAD: Three Inland Revenue Service officers of BS-19 have relinquished/assumed the charge as Additional Commissioners in different cities. Pir Khalid Ahmed Qureshi assumed the charge of the post of Additional Commissioner-IR, Regional Tax Office, Hyderabad, after relinquishing the charge of the post of Additional Commissioner-IR, Large Taxpayers Unit, Karachi, with effect from January 12. Naib Ali Pathan assumed the charge ... Read More »

Customs Superintendent Syed Anwar to retire in April

ISLAMABAD: Syed Anwar Jamshed Bukhari, a Pakistan Customs Service officer of BS-17, is going to retire from the government service on attaining the age of superannuation. Syed Anwar, posted as Superintendent Preventive Service at Model Customs Collectorate of Preventive, Karachi, will stand retired with effect from April 06. Read More »

UK imports of fresh, frozen pork grow 13% in volume

LONDON: UK imports of fresh and frozen pork grew by 13% in volume year-on-year in November 2015 but fell in value over the same period by 4% to £55.8 million, according to AHDB Pork. Based on the latest figures from HMRC, this continued an import growth trend which has been observed since June 2015, barring a slight dip in September. ... Read More »

Turkey’s budget revenues expected to rise 11.9% in 2016

ANKARA: Turkey’s budget revenues are expected to rise 11.9 percent this year but its budget deficit is still expected to widen to 29.7 billion lira ($9.78 billion), Finance Minister Naci Agbal said on Friday. The primary surplus is seen at 26.3 billion lira this year, he told a news conference in Ankara. Read More »

Hungary CPI rises to 0.9% in Dec

BUDAPEST: Consumer prices in Hungary rose by an annual 0.9 percent in December, accelerating from a 0.5 percent increase in November, the Central Statistical Office (KSH) said on Thursday. The headline figure was in line with the estimate by emerging market analysts in London, who attributed the rise mainly to base effects, namely a big drop in fuel prices in ... Read More »

South Africa may need to import 5m tons of maize in 2016

CAPE TOWN: Agriculture Minister Senzeni Zokwana is expected to meet with members of Grain SA and other players in the sectors this morning to determine the country’s level of readiness for importing grains. Transnet officials will also be at the meeting amid concerns around whether the country’s ports have sufficient capacity to handle massive agricultural imports. South Africa may need to ... Read More »