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Author Archives: CT Report

Indian excise team nab 6 liquor smugglers

NOIDA:  The district excise department today seized 38 cartons of smuggled liquor and six smugglers were arrested from various parts of the city. “The excise team comprising inspectors Upinder Singh, T R  Vaish and V P Singh raided several areas in the district and seized 38 cartons of smuggled liquor,” District Excise officer Kuldeep Yadav said today. “From Mohalla Thskuran, ... Read More »

Malaysian police nab two culprits with ganja

TAIPING: Police arrested two people, a 24-year-old youth and a 62-year-old woman, and recovered 513 g of ganja from them in a house in Taman Kaya, Taiping here today. Taiping district police chief ACP Harith Kam Abdullah said they acted on a tip off, and raided the house at 3am. 51 plastic packets containing drugs worth RM1,500, two motorcycles and ... Read More »

Indian Govt announces cut in import tariff value for gold

MUMBAI: The Indian Government today has announced cut in import tariff value for gold. However, import tariff value on silver has been increased. The import tariff value of gold has been reduced marginally by nearly over 0.5%, in accordance with prices of precious metals in the international market. Meantime, tariff value on imported silver has been increased marginally by less ... Read More »

Russia’s oil export surges 10.6% in 2015

MOSCOW: Russia’s oil export to far abroad countries grew 10.6% in 2015, year-on-year, to 220.267 million tons (4.423 million barrels a day), according to the operative report of Central Dispatching Department of Fuel Energy Complex (CDU TEK). Russia exported 17.997 million tons of oil in December 2015 (4.256 million barrels a day) – 26.0% more than in December 2014. Transneft ... Read More »

Lebanon to ink trash export contracts

BEIRUT: The government could sign trash export contracts with two waste-to-energy firms within days, despite sustained public concerns about the murky way in which ministers settled on the two companies. Read More »

Rise in Iran’s crude oil exports depends on future demand

DUBAI: A rise in Iran’s crude oil exports once sanctions against it are lifted depends on future global oil demand and that should not further weaken oil prices, a senior Iranian oil official was quoted as saying. Oil prices are likely to come under further pressure this year, when international sanctions on Iran are due to be removed under a ... Read More »

China’s factory activity shrinks for 10th straight month in Dec

BEIJING: China’s factory activity shrank for a 10th straight month in December as surveys across Asia showed industry struggling with slack demand even as the policy cupboard is looking increasingly bare of fresh stimulus. Uncertainty over the economic outlook was exacerbated by a flare up in tensions between Saudi Arabia and Iran, that has sent investors scurrying from stocks to ... Read More »

Iran says rising oil exports depends on future demand

TEHRAN: A rise in Iran’s crude oil exports once sanctions against it are lifted depends on future global oil demand and should not further weaken oil prices, senior officials were quoted as saying. Oil Minister Bijan Zanganeh said Iran did not plan to exacerbate an already bearish oil market. “We are not seeking to distort the market but will regain ... Read More »

Ukraine curbs import of Russian food

KIEV: The decree published on Ukraine’s government website on Saturday said that the imports from Russia would be banned as of January 10. The sanctions include meat, fish, and dairy products as well as vegetables and fruit. A similar Russian ban came into effect on New Year’s Day. The tit-for-tat move came after Ukraine decided to implement a free trade ... Read More »

First crude oil shipment exports from US

WASHINGTON: The first crude oil shipment exported from the United States, after a 40 year ban, left from Corpus Christi, Texas last Thursday. NuStar Energy and ConocoPhillips loaded a vessel with light crude oil pumped from the Eagle Ford Shale of South Texas at NuStar’s North Beach Terminal at Port Corpus Christi. The crude is to be sold to the ... Read More »

S. Korea’s electronics exports fall 13.8% YOY in Dec

SEOUL: Exports fell by 13.8% y/y in December, much weaker than expected (consensus: -11.7%), following a one-time vessel delivery lift in November (Nov: -4.8% y/y; Oct: -16.0%). The release marked the weakest annual export performance in level terms since 2010, with exports falling by 7.9% y/y in 2015 (2014: 2.3%; 2013: 2.1%). On a seasonally adjusted m/m basis, exports gave ... Read More »

Bajaj Auto sales flat YOY at 2.89L in Dec

NEW DELHI: Bajaj Auto   said it had clocked 2.89 lakh unit sales in December 2015, flat compared to a similar figure in December 2014. The company’s two-wheeler sales rose 1 percent to 2.47 lakh while commercial vehicle sales fell 4 percent to 41,221. Out of this, exports sales stood 1.45 lakh, down 12 percent from 1.66 lakh year-on-year (YoY), the ... Read More »

Agricultural Bank of Taiwan to maintains farm exports

TAIPEI: Agricultural Bank of Taiwan (ABT), the only financial institution in the country dedicated to serving Taiwan’s farm sector, set up an international banking department recently to help local farmers sell their products overseas. At the department’s opening ceremony, ABT Chairman Chen Chao-hui said the local agricultural sector needs more financial support at a time when many farmers are seeking ... Read More »

Korea’s petrochemicals export volume continuously increases 5.4% in 2015

SEOUL: Korea’s petrochemicals export volume is continuously rising on a series of free trade agreements (FTA). According to a report published by the Korea International Trade Association (KITA) on Dec. 31, the country’s petrochemical export volume from January to October 2015 stood at 27.9 million tons, up 5.4 percent from the total export volume in 2014. When adding exports in ... Read More »

Agricultural exports from Russia may reach $20b in 2015

MOSCOW: In spite of sanctions and its food embargo against the West, Russia remains a top agricultural exporter. In 2015, agricultural exports from Russia could reach $20 billion – $5bn more than in 2014. Russia’s key trading partners include the EU, in particular Germany and the Netherlands, as well as African countries and China. In total, Russia exports its products ... Read More »

South Africa records first trade surplus in 5 months for Nov

WASHINGTON: SA recorded its first trade surplus in five months for November, as exports grew 10.3% compared with October and imports fell 13.5%, according to figures from the South African Revenue Service (SARS). The recent weakening of the rand should be positive for the manufacturing sector as it makes SA’s goods more competitive in global markets, while making imports more ... Read More »

Pakistan Post collected Rs3.8b revenue in 2014-15

ISLAMABAD: Pakistan Post has collected revenue of Rs3,774.343 million (about Rs3.8 billion) in provision of various services including utility bills, collection of income tax on motors, provisional tax collection during fiscal year 2014-15. Official sources said that the Pakistan Post collected Rs347.413 million for collection of utility bills on behalf of Pakistan Tele Communication Limited (PTCL), Sui Southern Gas Pipeline ... Read More »

Businessmen laud tax amnesty scheme

ISLAMABAD: The United International Group Sunday lauded the tax amnesty scheme for non-taxpayers which will help the government raise Rs50 billion. The government had addressed the issue of traders who were not willing to be filers after the announcement of 0.6 percent withholding tax, United International Group Chairman Mian Shahid said, in a statement on Sunday. He said that the ... Read More »

Web portal being developed for PM Youth Schemes

ISLAMABAD: Prime Minister’s Youth Programme is in process of developing a web portal to compile beneficiaries’ data and facilitate applicants through provision of comprehensive information and impact about its six schemes. Prime Minister’s Youth Programme Chairperson Leila Khan Sunday said it would be the first of its kind portal providing single window for eligible youth to access information and make ... Read More »

FBR collects Rs785b in Q2 against Rs750b target

ISLAMABAD: Federal Board of Revenue (FBR) collected around Rs785 billion against the target of Rs750 billion fixed for the second quarter (October to December) of current fiscal year 2015-16. The target for the second quarter has therefore been surpassed by around 35 billion. The revenue collection trend during the quarter Oct-Dec, 2015 augurs well for the efforts of FBR towards ... Read More »