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Author Archives: CT Report

Noi Bai Airport strengthens Customs checks before Tet

HA NOI: Customs officials at Noi Bai International Airport are strengthening inspections of passengers, luggage and cargo from all flights arriving at the airport. These inspections are especially meant for those passengers arriving from Europe and some regional countries such as Singapore and South Korea, and aim to prevent smuggling and illegal transport of goods before the lunar New Year ... Read More »

Container imports, exports decline at Port of Oakland in Dec

WASHINGTON: Container imports and exports declined at the Port of Oakland in December, indicating that retailers are still working through abnormally high inventories. Oakland handled 69,661 loaded import containers and 69,384 loaded export containers in December—declines of 6.3% and 7.9%, respectively, from the same month last year. Oakland, the nation’s 8th-largest container port, was the first major U.S. port to ... Read More »

NA body ‘agrees’ to okay tax amnesty scheme tomorrow

  ISLAMABAD: The members of National Assembly Standing Committee on Finance again showed their concerns over Income Tax (Amendment) Bill, 2016. However, the body later decided to approve the ‘The Income Tax (Amendment) Bill, 2016’ on Thursday after considering recommendations of the Senate Standing Committee on Finance. Briefing the Committee, FBR Chairman Nisar Khan clarified that the scheme is not ... Read More »

Govt determined to promote trade in country: Dastgir

  ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said that the government is determined to promote trade in the country on international standards. In a statement, Khurram Dastgir said that during previous two and half years, the government had taken advantage of local and international laws for the defence of country’s trade advantages. He said the government also had ... Read More »

U.S Customs seizes cache of counterfeit wearables

NEW YORK: Though it doesn’t happen too often if you use a reputable service, ordering electronics online often comes with the risk of getting a counterfeit product. In some cases, the counterfeit nature of the product is immediately apparent and disappointing; other times it is done well enough to go undetected unless something catastrophic happens. The best way to avoid ... Read More »

Pilot smuggled cash, jewelry through customs, feds say

NEW YORK: But for a broken screening device, U.S. Immigration and Customs Enforcement agents might not have been able to stop an airline pilot they claim was smuggling nearly $200,000 in cash into the United States. According to a federal criminal complaint, Anthony Warner, 55, of Dallas, Tex., arrived at New Liberty International Airport Sunday on a flight from Mumbai, ... Read More »

Former councilor appointed Philippines Customs collector

CEBU: A FORMER Cebu City councilor has been appointed as the new Port of Cebu district collector of the Bureau of Customs (BOC). Rico Rey Francis “Koko” Holganza is replacing retired general Arnulfo Marcos, who served in Cebu for eight months. “He (Marcos) said as a good soldier, he will follow orders from superiors. He has no complaints on the ... Read More »

China  crude oil imports up 8.8% to 334m tonnes in 2015

BEIJING: China’s crude oil imports in 2015 rose 8.8 percent to 334 million tonnes (6.68 million barrels per day), the country’s customs administration said in a statement on Wednesday. Iron ore imports were up 2.2 percent at 953 million tonnes in 2015, China Customs also said. Read More »

Irish GDP forecast to grow nearly 7% in 2015

DUBLIN: Despite weaker global economic growth, Irish gross domestic product (GDP) has been forecast to grow nearly 7 percent in 2015 and 5 percent in 2016, according to a local economist on Tuesday. Alan McQuaid, chief economist with the Dublin-headquartered Merrion Stockbrokers, said Irish GDP was up 1.4 percent in the quarter and 7 percent in the year in the ... Read More »

Banque de France keeps quarterly growth forecast unchanged at 0.3%

PARIS: France’s central bank, Banque de France (BdF), on Tuesday held the growth estimate of 0.3 percent unchanged for the last quarter of 2015. In its final quarterly forecast, the French bank said industrial business “reported an increase in output”, mainly in agri-food and automobile and related goods sectors. As a result, the capacity utilisation rate improved to 78.2 percent ... Read More »

Singapore Customs app helps quicken GST payment, declaration process

SINGAPORE: A new app will allow travellers to pay duty and Goods and Services Tax (GST) for their overseas purchases before they arrive in Singapore, Singapore Customs announced on Wednesday (Jan 13). Prior to this, travellers with goods purchased overseas that exceed their duty-free allowance or GST relief would have to declare and pay the GST for their goods at ... Read More »

Cambodia collects nearly $35m  taxes from casinos in 2015

PHNOM PENH: Thanks to improved collection efforts, a total of 34.7 million U.S. dollars in taxes was taken in from Cambodia’s casinos in 2015, a 33 percent increase on the previous year, a local English newspaper reported on Tuesday, citing a finance official. Ros Phearun, deputy director-general of the ministry’s finance industry department, said the increase was notable, as the ... Read More »

Customs failed to seize satellite phone: probe

RIYADH: A police probe into the seizure of a satellite phone from a Saudi national at the Cochin International airport last week has pointed to a possible lapse by the Customs wing. “The customs sleuths should have confiscated the sat phone when Al Fahad Sultan, the Saudi national landed here from Riyadh last month. We will also be verifying how ... Read More »

Bangladesh receives $7.48bn remittances in 1st half of FY 2015-16

DHAKA: Bangladesh in the first half of the current fiscal year 2015-16 ending in June received 7.48 billion U.S. dollars in remittances from its millions of expatriate workers, a central bank official said Tuesday. The Bangladesh Bank (BB) official who preferred to be unnamed said some 10 million Bangladeshis, living and working abroad, in the first half of the current ... Read More »

Thai gov’t opts for direct purchase of 100,000-ton rubber from planters

BANGKOK: The Thai government decided here the other day to place direct purchase of 100,000 tons of rubber from planters nationwide in a bid to alleviate their plight caused by a drastic, chronic decline in the rubber prices. Thai Premier Prayut Chan-o-cha resolved to have government agencies buy newly-produced rubber directly from the planters in all regions of the country, ... Read More »

China trade faces difficulties in 2016 due to weak external demand: Customs data

BEIJING: China’s trade faces many challenges in 2016 due to weak external demand, customs spokesman Huang Songping said at a news conference on Wednesday. One of the main reasons for China’s lower exports in 2015 was weak external demand, he added. Read More »

Dubai Customs counts down to first Customs Week to coincide with Int’l Customs Day

DUBAI:The first Dubai Customs Week is scheduled to set off on January 24 till 28, under the motto ‘Dubai Customs. A World of Digital Innovations’. The first-of-its-kind event to be organized by a Customs Administration worldwide will concur with the International Customs Day celebrations on January 26. The program of events for the DC Customs Week includes various lectures, workshops ... Read More »

China’s trade surplus rises 56.7% to $562bn in 2015

BEIJING: China’s foreign trade surplus widened to 3.69 trillion yuan (US$562 billion) in 2015, an increase of 56.7 percent from a year earlier, customs data showed on Wednesday. Exports fell 1.8 percent year on year to 14.14 trillion yuan in 2015, while imports declined 13.2 percent to 10.45 trillion yuan in 2015, according to the General Administration of Customs data. ... Read More »

China’s Dalian Wanda acquires Legendary for $3.5b in biggest Chinese overseas deal

BEIJING: Dalian Wanda Group Co Ltd (Wanda Group) today announced that it has acquired US Legendary Entertainment for no more than $3.5 billion in cash, marking China’s largest cross-border cultural acquisition to date. Thomas Tull will remain as Chairman and CEO of Legendary and will continue to be responsible for its day-to-day operations. Legendary is a leading film production company ... Read More »

Volkswagen auto sales fall 4.6%  in China in 2015

BERLIN: Volkswagen posted slightly weaker auto sales in China in 2015 compared with a year earlier, but demand for its luxury cars remained resilient. Sales of Volkswagen models dropped 4.6 percent in China to 2.63 million units in 2015. Audi sales edged down 1.4 percent to 570,000 units. However, its luxury cars continued to post strong growth. Porsche sales went ... Read More »