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Author Archives: CT Report

India Customs arrests 3 passengers at Kolkata Airport

KOLKATA: Three passengers who arrived from Bangkok at the Netaji Subhash Chandra Bose International Airport were arrested by the customs officials as they were carrying 780 gm of gold valued at Rs 20.5 lakh. Airport officials here said the gold was recovered from the bags and wallets of the passengers. However, the officials said, the three were released as the ... Read More »

Vietnam Customs officer arrested for bribery allegations

HO CHI MINH CITY: Police have arrested an anti-smuggling officer at the Ho Chi Minh City Customs Department for investigation into allegations of taking bribes. Nguyen Tuong Duy, 47, who works at the Customs Control Unit, was arrested at his home in HCMC on December 30, Hoang Viet Cuong, deputy head of the General Department of Vietnam Customs, told Thanh ... Read More »

Taiwan Customs confiscates undeclared currency worth $28K

TAIPEI: Taiwan Customs officers confiscated the equivalent of roughly US$28,000 from a Taiwanese man who was attempting to depart for Macau Friday evening with large amount of undeclared cash, according to the Aviation Police Bureau (APB). The APB said the man was carrying HK$300,000 in his coat pocket and customs officers at Taoyuan International Airport seized HK$218,000 (US$27,948), in accordance ... Read More »

Philippines Customs revenue shortfall due to unabated smuggling: COA

MANILA: For eight straight years, the Bureau of Customs (BOC) has failed to attain its annual revenue target due to unabated smuggling. According to a report, the Commission on Audit (COA) said the BOC’s total income increased by P64.392 billion, from P304.898 billion in 2013 to P369.290 billion in 2014. “But this was not enough to hit the target of ... Read More »

Minnesota trade group explores Cuba

HAVANA: A group of Minnesota agriculture leaders toured Cuba last week to check out potential trade relations if embargoes are eased in the future. The delegation toured farms and markets to study Cuban food processes and production, and met with government officials and agricultural research leaders. Department of Agriculture Commissioner Dave Frederickson led the group, and said afterward that Cuba ... Read More »

Germany, Cuba agree to open Havana trade office

HAVANA: Burying old Cold War tensions, Germany and Cuba have agreed to open a trade office in Havana. German Vice Chancellor and Economy Minister Sigmar Gabriel said the countries “want a new partnership on an eye-to-eye level.” The memorandum, signed by Sigmar Gabriel (above, center) at the start of his two-day trade visit on Thursday, could prove to be beneficial ... Read More »

Argentina to resume debt talks with holdout creditors soon

BUENOS AIRES: Argentina will restart negotiations with disgruntled creditors headed by Elliott Management in New York, a month after President Mauricio Macri took office, with court-appointed debt mediator Daniel Pollack overseeing the talks. Argentine Finance Secretary Luis Caputo will travel to New York on Monday, a Finance Ministry press official told reporters in Buenos Aires. The last time an Argentine ... Read More »

Nigeria’s World Trade Centre to be ready soon

LAGOS: The Group Managing Director of Churchgate Group, Mr. Vinay Mahtani, in this interview with Adedayo Adejobi, talks about the first of its kind World Trade Centre to be built in West Africa and major roles the more than N200 billion building will play in driving Nigeria’s economy, among other things The World Trade Center Abuja project was conceived in ... Read More »

Nigeria Customs lists goods absolutely prohibited

ABUJA: The Nigeria Customs Service (NCS) has reportedly banned some goods from being imported to the country, has gathered. The list of goods which have been absolutely prohibited, was posted on the official website of the cross-border security outfit, where it warned Nigerians sternly that failure to comply will attract outright seizure of such goods and the suspects will ... Read More »

US adds 292,000 to payrolls in December

WASHINGSTON: Global stock markets have been tumbling, China’s economic growth appears to be slowing faster than expected and many key world economies are struggling. But new data show the U.S. job market is getting stronger. The Labor Department said Friday that the nation added 292,000 net new positions in December, ending another robust year in which payrolls grew by nearly ... Read More »

Mexico wants to extradite ‘El Chapo’ to US

MEXICO CITY: Mexico’s government aims to fulfill a request from the United States to extradite the newly-recaptured drug lord Joaquin “Chapo” Guzman to face drug trafficking charges, sources familiar with the situation said. The Mexican Attorney General´s office will be working as fast as possible to establish the path to extradition, and Chapo could be extradited by mid-year, one of ... Read More »

US calls China to end ‘business as usual’ with North Korea

NEW YORK: Secretary of State John Kerry said Thursday that China and the U.S. agreed that “business as usual” can’t continue with North Korea after Pyongyang conducted an alleged hydrogen bomb test. Kerry said he spoke with his Chinese counterpart Wang Yi and discussed options on how to respond to North Korea’s recent actions. “China had a particular approach that ... Read More »

Advantages of EU-US trade deal outweigh drawbacks: Merkel

BERLIN: German Chancellor Angela Merkel said the Transatlantic Trade and Investment Partnership between the European Union and the U.S. has more advantages than drawbacks, and could be a model for other free-trade agreements. “No standard already in existence in the European Union today will be lowered in the trade agreement with the U.S.,” Merkel said Saturday in her weekly podcast. ... Read More »

PR moving in right direction: Saad Rafique

LAHORE: Federal Minister for Railways Khawaja Saad Rafique said on Saturday that all political parties should support the government regarding China Pakistan Economic Corridor (CPEC) which was a project of national importance. Addressing the inaugural ceremony of double track of railways from Lodhran to Raiwind here at Prem Nagar, he said that those who are making efforts to make this ... Read More »

Bangladesh exports rise 12.7% last month

DHAKA: Bangladesh’s exports rose 12.7 percent in December from a year earlier to $3.2 billion, driven by an increase in readymade garment sales, official data showed. Exports for July to December, the first half of the country’s 2015-16 financial year, rose 7.8 percent from a year earlier to $16.1 billion, the Export Promotion Bureau said. Sales of garments, comprising knitwear ... Read More »

Afghanistan keen to boost gas, oil imports from Iran to 1.2mt

KABUL: Afghanistan is keen to expand its gas oil imports from Iran to 1.2 million tons, Iranian Oil Minister Bijan Namdar Zanganeh said after his meeting with Afghan Minister of Commerce and Industries Homayoun Rasa in Tehran. Zanganeh said the two sides are still in talks over the details and Iran has not yet offered a price, IRNA news agency ... Read More »

Jordan resumes tomato exports to Syria

AMMAN: Agriculture Ministry announced the resumption of vegetable exports to Syria, mainly tomato, and said that more than 200 tonnes of vegetables were exported last Thursday via Aqaba Gulf to Lebanese and Syrian ports. Assistant secretary general of the ministry for marketing and information Salah Tarawneh said that more shipments of vegetables will head to Lebanon and Syria this week. ... Read More »

Qatar’s trade surplus drops 36.7%

DOHA: The difference between total exports and imports showed a decrease of QAR12.6bn, or 53.6%, compared to November 2014. November saw the value of Qatar’s total export of goods, including exports of goods of domestic origin and re-exports, standing at QAR21.3bn This is a 36.7% decrease year-on-year and a 5.9% decline, month-on-month. November imports, however, touched QAR10.4bn, an increase of ... Read More »

Kuwait Customs seizes 3kg of marijuana at airport

KUWAIT: An Asian man was arrested at Kuwait International Airport with possession of marijuana which he admitted of attempting to smuggle into Kuwait. A total of three kilograms of the drug were found hidden in cases of nuts inside the suspect’s luggage, said Suleiman Al-Fahad, Airport Customs Supervisor. The man, who faces capital punishment if convicted with drug trafficking, was ... Read More »

Nepal gold imports up 2.5 times to Rs6.36b in 5 months of fiscal year

  KATHMANDU: Nepal imported less of everything except gold and colza seeds in the first five months of the fiscal year. Gold imports soared 2.5 times to Rs6.36 billion while imports of colza used to make oil swelled 11.5 percent to Rs1.44 billion, according to the Trade and Export Promotion Centre (TEPC). Meanwhile, silver imports fell the most with a ... Read More »