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Author Archives: CT Report

China to remove gold import license for industrial purposes

BEIJING: Gold imported into China for industrial use will not require a central bank permit from the beginning of this year, the General Administration of Customs said. Industrial use includes the processing of gold in making watches and coins, for example, according to the statement. Read More »

Taiwan Customs seizes $28,000 of undeclared cash at airport

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 »

HK Customs seizes 109kg European eels at airport

HONG KONG: Hong Kong Customs seized about 109 kilograms of suspected European eel and arrested three male and one female incoming passengers at Hong Kong International Airport today (January 5). Customs officers conducted Customs clearance on three male and one female passengers separately at the airport this morning. Four passengers arrived Hong Kong from Madrid, Spain via Abu Dhabi, United ... Read More »

HK Customs seizes 1.3m sticks of illicit cigarettes in Tsing Yi

HONG KONG: Hong Kong Customs detected a suspected case of illicit cigarettes concealed inside a container and seized about 1.3 million sticks of suspected illicit cigarettes in Tsing Yi last night (January 6). Customs officers intercepted a truck last night on Hong Wan Road, Tsing Yi. After thorough inspection, about 1.3 million sticks of suspected illicit cigarettes were found inside ... Read More »

Container volume increases at India’s major ports

MUMBAI: Container throughput at India’s major, state-owned ports showed a modest increase in the first three fiscal quarters from a year earlier as sluggish global demand continues to weigh heavily on the country’s foreign trade. Port statistics compiled by show major ports handled 1.65 percent more containers from April to December over the same period in 2014, with volumes ... Read More »

Tennessee revenue collections increase 8.95%

WASHINGTON: Tennessee revenue collections for December reflected growth more than the same period a year before.  Finance and Administration Commissioner Larry Martin reported Friday that state revenue collections for December were $1.1 billion, representing 8.95 percent growth and $91.1 million more than December 2014.  December sales tax collections represent consumer spending that occurred in November. Total revenues in December were ... Read More »

Indian coal imports fall 15% to 132.3mt 

NEW DELHI: India’s coal imports fell 15 per cent to 132.3 million tonnes during the first nine months of the current fiscal year, according to local media reports, dealing a further blow to any hopes of a recovery in the global coal market. The Institute for Energy Economics and Financial Analysis (IEEFA) think tank said a closer look at the ... Read More »

Pineapple farmer sees export crisis in West Bengal

WEST BENGAL: Reeling under heavy losses, the pineapple farmers in West Bengal have urged the authorities to take steps to improve the functioning of a recently constructed export zone. The pineapple growers have suffered huge losses of late even after a bumper yield of the crop in Bidhannagar. Secretary of North Bengal Pineapple Growers Welfare Society, Animesh Mandal, said the ... Read More »

Nordic central banks to continue with low interest rates rule

OSLO: Just as there are differences in their economic outlooks, interest-rate projections also vary across the Nordic countries. Denmark appears to be on track for a minor unilateral rate hike from its central bank (Danmarks Nationalbank) to slow the fall in the currency reserve, which has dropped back to the level prior to the major currency inflow in the opening ... Read More »

Nigerian Customs seizes illegally imported goods worth N2, 7b in 2015

ABUJA: The Nigeria Customs Service (NCS) arrested some 316 suspects and intercepted illegally imported goods worth N2, 7 billion during the past year, a senior official disclosed. David Dimka, the NCS Controller in the Southeast and South-South Zones, said 467 seizures were made during the period. Of the suspects arrested for smuggling, one was convicted, 23 cases are now in ... Read More »

NZ Fonterra announces record export volumes in Dec 2015

WELLINGTON: New Zealand dairy giant Fonterra has announced it exported record volumes for the month of December 2015. Export data for the Co-operative in December shows the new record for a single month’s volume, with more than 300,000m tonnes shipped to its global markets. December’s volume was approximately 10% higher than Fonterra’s previous record month in December 2014. Fonterra Managing ... Read More »

Russian currency falls to 2.15 of Azerbaijani gapik

MOSCOW: The bi-currency basket, revived by the Central Bank of Azerbaijan, does not describe fully the disposition of currencies of the main consumer good suppliers in the country, but is much higher than the real import currency basket. According to customs statistics, the main suppliers of consumer goods in the country are Russia, Turkey and the EU (euro zone), but ... Read More »

Nigeria’s plans to acquire first JF-17 export operator

ABUJA: Nigeria’s plans to acquire three CAC/PAC JF-17 Thunder multirole fighters in 2016, Nigeria’s Punch newspaper reported on 6 January. Citing a leaked copy of the budget, Punch reported that NGN5 billion (USD25 million) has been allocated for the acquisition of the three JF-17s, NGN2.06 billion for 10 PAC Super Mushshak basic trainers, and NGN11.6 billion for two Mi-35M helicopters. ... Read More »

Sri Lanka’s earnings from exports decline 6.0% in Oct

COLOMBO: Sri Lanka’s earnings from exports declined by 6.0 per cent in the month of October to US dollars 847.3 million, year-on-year, reflecting lower earnings from exports of all major categories mainly due to weak global demand. On a cumulative basis, earnings from exports declined by 3.9 per cent to US dollars 8,843 million during the first ten months of ... Read More »

Italian rubber, plastic equipment exports increase in 2015

MILAN: Assocomaplast, the Italian trade association for plastic and rubber processing equipment makers, has said the 2015 full-year forecast is optimistic, with exports for the first three quarters of 2015 nearly equalling exports for the whole of 2014. Assocomaplast’s research office, analysing Italian Central Institute of Statistics foreign trade data, says that 2015 may even break the 2007 export record ... Read More »

Malaysia’s GDP expected to grow at slower pace of 4.5% in 2016

PETALING JAYA: Malaysia’s gross domestic product (GDP) is expected to grow at a slower pace of 4.5 per cent this year, the lowest level since 2009, due to weaker consumer spending and drag from net exports. In its report, Hong Leong Investment Bank (HLIB) Research said the Malaysian economy is still surrounded by external downside risks including the China slowdown, ... Read More »

Saudi Customs seizes 101,296 banned religious items

RIYADH: Saudi customs officials have managed stop over 1,000 attempts to smuggle religious materials into the country over the past two years. Customs officials seized a total of 101,296 books and religious tapes that are banned from entry for containing violating content. In new figures released this week, Saudi officials also said that customs officers have also seized animals and ... Read More »

Hungary’s industrial output up 9.5%

Industrial output in Hungary increased by a year-on-year 9.5%, according to a first release of data published by Hungary’s Central Statistical Office (KSH) this morning. As compared to the same month of the previous year, the index adjusted for working days increased by 7.0%, KSH data show. Output was up by a year-on-year 7.3% in the first eleven months of ... Read More »

Polygon exploring opportunities in Greece

Polygon Global Partners’ European Equity Opportunity Fund returned 10.3 percent last year, according to two people with knowledge of the matter, as bets on acquisitions and restructuring helped it outperform peers. The fund is managed by Polygon founding partner Reade Griffith, 50, who declined to comment on the performance figures. “We were focused on restructurings in the periphery last year ... Read More »

Taiwan’s exports fall in 2015

TAIPEI: Taiwan’s exports in 2015 fell by a 10th compared to a year ago, the largest annual decline since 2009, largely on weak international demand, the government said on Friday. Shipments last year totalled $280.5 billion, down 10.6 per cent from 2014 — the steepest fall since 2009 when the export sector, the major engine of the economy, saw shipments ... Read More »