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Author Archives: CT Report

ICCI remembers Munawar Mughal, holds Quran Khawani

ISLAMABAD: The Islamabad Chamber of Commerce and Industry (ICCI) has held Quran Khawani at the occasion of first death anniversary of Munawar Mughal, former ICCI president and FPCCI vice president. A large number of local business community, including former FBR chairman Abdullah Yousaf, CDA Environment Member Syed Mustazfain Kazmi, Akhbar Farosh Union General Secretary Tikka Khan and many other important ... Read More »

Cheap energy a must for LSMS growth: LCCI

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has urged the government to avail all resources to ensure affordable energy supply particularly in the wake of China-Pakistan Economic Corridor (CPEC) that would expedite industrialisation as the cheap energy is a must to keep momentum of Large Scale Manufacturing Sector growth. LCCI President Sheikh Muhammad Arshad and Vice President Nasir ... Read More »

Businessmen Group not participating in FPCCI elections: Siraj Teli

KARACHI: Renowned industrialist and Karachi Chamber of Commerce and Industry (KCCI) former president Siraj Kassam Teli has reiterated that the Businessmen Group is not supporting nor participating in the FPCCI’s election. In a statement, Siraj Kassam Teli said, “The Business Group will continue its previous year’s policy of not participating in the FPCCI elections as we believe and know that ... Read More »

Border agents foil attempt to smuggle drugs by sea

KUWAIT: The Sea Borders Security Department found 56 items suspected of being drugs, following a tip from an undercover source about an attempt to smuggle drugs by sea. A bag was found, and when opened, well-sealed cases containing the material were found. The material was sent to concerned authorities for testing. Interior Ministry Undersecretary for Sea Borders Security Affairs Major ... Read More »

2 men arretsed at Plumtree Border for smugling 8kg of gold

HARARE: TWO men who were arrested at Plumtree Border Post while driving a vehicle which was carrying gold have been acquitted after the court failed to find incriminating evidence against them. Francis Maranjesi, 47, and Nathan Mnaba, 29, were being accused of smuggling eight kilogrammes of gold worth more than $300,000 out of the country through the port of entry. ... Read More »

Cambodian rosewood exports down in first 9 months of 2015

PHNOM PENH: In the first nine months of 2015, exports of Cambodian rosewood to China – the Kingdom’s largest market for the protected species – have declined by as much as 95 per cent compared with the same period last year, data released by NGO Forest Trends show. China has registered a major drop in rosewood imports from Mekong region ... Read More »

Philippines Customs seizes P1m misdeclared steel products

MANILA: Misdeclared steel products valued at almost P1 million have been forfeited in favor of the government, the Bureau of Customs said. These steel products were shipped from China to the Port of Manila but the Customs Enforcement Group intercepted the shipment after it passed through the X-ray machine manned by its non-intrusive inspection team. The BoC said the container ... Read More »

Thailand seafood exports not hit by reports of slavery

BANGKOK: Thailand said recently seafood exports to the United States, Europe and Australia have not been hit by reports of slavery and forced labour by campaign groups and media. The comments come as Thailand, the world’s third-largest seafood exporter, faces increasing pressure to crack down on illegal fishing or face the risk of bans on its fish exports and to ... Read More »

Italian Customs seizes 90,000 euros in cash at airport  

BEIJING: A Chinese national who attempted to fly home from Italy with a whopping 90,000 euros in cash was detained at Catania International Airport earlier this month after lying on her customs declaration. According to a NetEase, the woman initially declared that she was only carrying 12,000 Euros in cash, but after appearing visibly nervous while passing through customs, the ... Read More »

S.Africa Customs seizes rhino horn worth over R3 million

DURBAN: Customs officials from SARS found the rhino horns in a shipment of taxidermy that had been profiled for examination at a well-known cargo forwarding company. The company was unable to provide the required export documentation upon request. Media quotes a SARS spokesperson who said the horns weighed approximately 10.5 kg and are worth more than R3 million. Rhinoceros is ... Read More »

S. Korea’s exports likely fall for 12th straight month in Dec

SEOUL: South Korea’s exports likely fell for a 12th straight month in December, a Reuters survey found, as demand from emerging market economies and China remained poor and global oil prices stayed low. The median forecast from 15 economists is for South Korean exports to fall 10.9% in December in dollar terms from a year earlier, slumping from a 4.8% ... Read More »

Dubai Anti- Narcotics nabs duo for smuggling heroin

DUBAI: The Anti- Narcotic Department arrested a man and a woman from different nationalities who attempted to smuggle a large amount of heroin. Colonel Eid Mohammed Thani Hareb, Director of the Anti- Narcotic Department in Dubai Police said the first defendant AJH (33year-old) who was of African nationality and worked in a company was arrested in a park in Dubai. ... Read More »

China Customs nabs 13 for links to fur smuggling racket

SHANGHAI: Thirteen people have been detained on suspicion of being part of a fur-smuggling operation, the city’s customs police said yesterday. The suspects are alleged to have evaded tax payments on 30 tons of marten furs imported to Shanghai from Hong Kong between July and October this year. In October alone, the group is believed to have smuggled 81,633 pieces ... Read More »

Kuwait police seize smuggled liquor

KUWAIT CITY: A bedoon man was sent to the drugs prosecution for smuggling liquor. He was arrested with six cartons of liquor after selling four bottles to an undercover agent. Meanwhile, Andalus police arrested two Indian men for selling drugs and liquor. The two were arrested in a taxi, in which 10 locally-made liquor bottles were found. They were sent ... Read More »

Kuwait Border Security foil attempt to smuggle drugs

KUWAIT: The Sea Borders Security Department found 56 items suspected of being drugs, following a tip from an undercover source about an attempt to smuggle drugs by sea. A bag was found, and when opened, well-sealed cases containing the material were found. The material was sent to concerned authorities for testing. Interior Ministry Undersecretary for Sea Borders Security Affairs Major ... Read More »

Kuwait’s crude oil exports to China jump 11.9% in Nov

KUWAIT: Kuwait’s crude oil exports to China in November jumped 11.9 percent from a year earlier to 1.07 million tons, equivalent to about 262,000 barrels per day (bpd), latest government data showed. For the first 11 months of the year, Kuwait exported 278,000 bpd to the world’s second-largest oil consumer, up 42.5 percent on the year, according to data released ... Read More »

Dubai Customs registers 3.1% growth in transactions in Q3

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. 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 provided through 23 inland, ... Read More »

China’s industrial profit falls by 1.4% in Nov

BEIJING: Profits of China’s major industrial firms fell 1.4 percent year on year in November, narrowing from a 4.6-percent decline posted in October, the National Bureau of Statistics (NBS) said on Sunday. Profits at industrial companies with annual revenues of more than 20 million yuan (about 3.1 million U.S. dollars) totaled 672.1 billion yuan in November. Rebounding sales, lower costs ... Read More »

Malaysian palm oil falls on slow exports

KUALA LUMPUR: Malaysian palm oil futures fell on Monday after hitting their highest in 18 months in the last session, as weaker export demand and concerns over the year-end monsoon season dampened market sentiment. The benchmark palm oil contract for March on the Bursa Malaysia Derivatives Exchange lost 0.2 percent to 2,482 ringgit ($577.75) a tonne at the end of ... Read More »

China fines eight sea freight shipping companies for price fixing

BEIJING: Eight international sea freight shipping companies have been fined 407 million yuan ($62.86 million) for price fixing. The companies including Japanese NYK Line and “K” Line and Chilean CSAV, the National Development and Reform Commission said in a statement. Read More »