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Author Archives: CT Report

Greece authorities arrest British cocaine kingpin for smuggling

ATHENS: Simon Dutton, 39, was reportedly arrested in Thessaloniki on a European arrest warrant for drug trafficking and participation in multimember criminal organisation An alleged cocaine kingpin from Britain has been arrested in Greece, it has been reported. Simon Dutton, 39, was reportedly arrested in Thessaloniki on a European arrest warrant for for drug trafficking and participation in a multimember ... Read More »

Singapore police seize 250kg of contraband chewing tobacco over Christmas weekend

SINGAPORE: Two attempts to smuggle duty unpaid chewing tobacco via the Tuas Checkpoint over the long Christmas weekend were foiled by authorities. In a news release on Sunday (Dec 27) evening, the Immigration & Checkpoints Authority (ICA) said a total of 28,769 sachets weighing more than 250kg were seized. The first attempt on Christmas Eve at about 10am involved a ... Read More »

Philippines Customs may not meet 2015 revenue target

MANILA: The Bureau of Customs (BOC), the second largest revenue earner of the government, is unlikely to reach its full year revenue this year, as it has only collected P353.07 billion ($7.487) as of December 17. The agency is aiming for P436.6 billion ($9.258 billion) in revenues for 2015. In addition, an initial collection report showed that the agency’s actual ... Read More »

Dubai Customs reports 3.1% growth in transactions in 9 months

DUBAI: Dubai Customs has registered a 3.1 per cent year-on-year growth in transactions in the first three quarters of this year, it said in a statement issued on Saturday (December 26). The customs authority processed nearly 6.6 million transactions from January 1 to September 30, compared with 6.4m in the same period of 2014. The transactions comprise 19 main services ... Read More »

Serbia likely to increase trade with Russia in 2016

MOSCOW: Belgrade would like to increase the trade with Moscow by many times, Serbian Prime Minister Aleksandar Vucic told Sputnik Serbia. He added that there were many problems for both Serbian and Russian economies, but the economic situation should improve in 2016. Belgrade and Moscow actively cooperate in particular, within the framework of the Intergovernmental Russian-Serbian Committee on Trade, Economic, ... Read More »

Indonesia exports improve as US economy rises

JAKARTA: Indonesia’s export and import performances in 2016 is expected to improve as the United States and Europe have managed to boost its economy. “For 2016, we will still focus on stabilization. In 2015, our imports dropped by 15 to 20 percent, and exports decline by 14 to 17 percent. So, the decreasing trend might continue next year, but not ... Read More »

Hong Kong exports down 3.5% in Nov.

HONG KONG: The values of Hong Kong’s total exports of goods fell 3.5 percent year-on-year to 315.3 billion HK dollars (about 40.5 billion U.S. dollars) in November, 2015, the Census and Statistics Department said. Within this total, the value of re-exports decreased 3.2 percent to 311.6 billion HK dollars last month, while the value of domestic exports lost 21.6 percent ... Read More »

Vietnam seafood exports down $1bn

HANOI: The Vietnam Association of Seafood Exporters and Producers (Vasep) said shrimp export turnover is expected to reach only $3 billion in 2015, down $1bn over last year. Meanwhile, farmers in major shrimp production areas in the Mekong Delta have fallen into heavy losses because of diseases and price drop, reports Saigon GP. Latest statistics by the Department of Agriculture ... Read More »

China ethanol imports rise after US trade mission

BEIJING: The U.S. Department of Agriculture (USDA) reported a significant jump in ethanol exports to China in 2015, following a USDA-led trade mission to the country last year. Representatives from nine state departments of agriculture and 28 U.S. companies, including renewable fuel businesses, traveled to northeast China to explore opportunities for trade in the region. China is the largest market ... Read More »

Ukraine imports 370 million cubic meters of gas EU

KIEV: Ukraine has imported 370 million cubic meters of gas from the counties of the European Union in the period between December 1 and December 27. Head of PJSC Ukrtransgaz press service Maksym Biliavsky wrote on his Facebook page. “On the whole, from the beginning of December (December 1-27) 370 million cubic meters were delivered from Europe for the needs ... Read More »

Ukraine plans to restrict imports of Russian goods in 2016

KIEV: Ukraine plans to impose a number of measures to restrict imports of Russian goods in 2016, Deputy Economic Development and Trade Minister of Ukraine Natalya Mikolskaya said on Monday. She said that Ukrainian producers are actively working to find new export markets to replace the Russian one, hoping to revitalize trade with Asian and African countries. “Over the past ... Read More »

Indonesia to import 700,000-800,000 cattle in 2016

JAKART: A Indonesia will import an estimated 700,000-800,000 head of cattle in 2016, the country’s official Antara news agency reported, citing Trade Minister Thomas Lembong. Thomas also estimated raw sugar buys at more than 3 million tonnes, although he stressed that these forecasts may change. “The president and vice president have said several times that self-sufficiency in food is a ... Read More »

Spanish farmers union want ban on duty-free Moroccan olive oil imports

MADRID: FARMERS in Spain are calling for a ban on duty-free olive oil imports from Morocco. Agriculture union COAG Andalucia raised concerns after the annulment of a 2012 EU trade agreement which permitted duty-free imports of certain Moroccan products into the EU. The decision has prompted COAG to request a ban on Moroccan imports of olive oil into Spain, its ... Read More »

Nigeria economy loses N34b to phone imports monthly

LAGOS: Nigeria’s economy is currently losing an estimated N34billion monthly to wanton importation of mobile phones into the country, the Daily Trust has gathered. The losses, which accrue to the country in form of capital flight has set in due to lack of deliberate policy by government to encourage local phone assemblage. With over 170 million population, the country has ... Read More »

Vietnam opens probe into cheap steel imports

HANOI: Vietnam’s trade ministry announced the start of an investigation into steel imports following complaints by local producers that imports are jeopardizing domestic production. The ministry’s competition management department said four Vietnamese companies have proposed a 45 percent tariff on imported steel billets and 33 percent on steel rods. Hoa Phat, Southern Steel, Thai Nguyen, and Vietnam-Italy Steel, which produce ... Read More »

US steel imports fall by 23% in November

WASHINGTON: As the U.S. Department of Commerce starts slapping tariffs on steel dumpers, imports are finally starting to fall. Preliminary steel imports plunged by 23 percent in November, according to the American Iron and Steel Institute. The United States imported 2.3 million net tons in November, which is down 22.7 percent as compared to October. Finished steel imports fell 15.6 ... Read More »

US authorities imposes punitive tariffs on steel imports

NEW YORK: A preliminary determination by the U.S. Department of Commerce has called for the taxation of corrosion-resistant steel imports from China at 256%, a development which is likely to weaken the competition from cheap steel imports to domestic steel producers. Domestic steelmakers, whose business prospects have been negatively impacted by competition from steel imports, had petitioned U.S. authorities earlier ... Read More »

Bangladesh authorities recovered 52,000 yaba tablets

CHITTAGONG: Officials of the Department of Narcotics Control (DNC) recovered 52,000 yaba tablets from a lorry in Chittagong city and arrested two people in this connection. The arrestees are Mohammad Shahjahan, 27, of Laxmipur, and Mohammad Manik, 21, of Khagrachhari. Acting on a tip-off, officials of DNC Chittagong metro sub-zone took position at Bakalia and halted a Chittagong-bound lorry, coming ... Read More »

Singapore Customs seizes more than 250 cartons of contraband cigarettes

SINGAPORE: More than 250 cartons of contraband cigarettes were seized at the Woodlands Checkpoint. A 25-year-old Malaysian driver who was trying to enter Singapore had requested to make a u-turn back to Malaysia at the arrival forward check area. He told officers from the Immigration and Checkpoints Authority (ICA) that his car had broken down. Sensing something amiss, ICA officers ... Read More »

India police seize 4 liquor consignments

AHMEDABAD: With year-end parties close at hand on December 31, city and district police have stepped up their efforts to stop illegal liquor consignments reaching the city . In the past fortnight, four consignments have been seized by law enforcement agencies. According to Ahmedabad rural police’s special operations group (SOG), a team caught Shivam Pandit from Manipur near Bopal with ... Read More »