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Author Archives: CT Report

Ngerian Customs rakes in N826bn

ABUJA: Nigerian Customs Service (NCS) now under intense pressure to expand collections and rev up government revenues severely bashed by low oil prices, says it generated about N826 billion between January and November this year. The service, which recently went through sweeping reforms led by Ahmed Ali. This content is for Premium Yearly Subscription, Basic Yearly Subscription, Basic Monthly Subscription ... Read More »

Taiwan projector shipments increase 7.7% in 3Q15

TAIPEI: There were 25,572 projectors shipped in the Taiwan market during the third quarter of 2015, increasing 7.7% on quarter and 20.3% on year, according to IDC Taiwan. Shipment growth was mainly attributable to many large procurement projects in the education-use market segment, IDC said. The mainstream brightness specification was 3,000-3,999 lumens, accounting for 49% of total shipments, and 5,000-5,999 lumens ... Read More »

Global smartphone shipments rise 7.7% YOY in Q3

WASHINGTON: According to Digitimes Research, smartphone shipments for the third quarter of 2015 rose 7.7% year-over-year during the period. That means 331.9 smartphone units were shipped from July through September. Sequentially, the gain amounted to 10.5% from the second quarter. For the current quarter, the research arm of Digitimes expects shipments to reach 396.8 million phones. That would be a ... Read More »

Ukraine imposes moratorium on $3b Russian debt refund

KIEV: Ukraine has imposed a moratorium on the $3 billion Russian debt repayment, said the country’s Prime Minister Arseny Yatsenyuk at a cabinet meeting on Friday. The announcement comes ahead of the December 20 deadline for the debt redemption. “Considering that Russia has refused, despite our efforts, to sign an agreement on restructuring and to accept our proposals, the cabinet ... Read More »

Japan’s core consumer inflation expected to flat in Nov

TOKYO: Japan’s core consumer inflation was expected to be flat in November from a year earlier, a Reuters poll found, but recent further declines in oil prices suggest a long struggle ahead for the Bank of Japan to meet its 2 percent inflation target. The core consumer price index (CPI), which includes oil products but excludes volatile fresh food prices, ... Read More »

Vietnam Customs seizes 2.2t of elephant tusks

HANOI: Hai Phong customs officials found and seized more than 2.2 tonnes of elephant tusks smuggled into Viet Nam from Mozambique yesterday. The tusks arrived at Tan Vu Port in the northern coastal Hai Phong City on November 29. They were sent by an enterprise in Mozambique to Ha Linh Import-Export JSC in the city. The goods were said to ... Read More »

Micromax plans to make all phones locally in India

NEW DELHI: Indian consumer electronics firm Micromax Informatics will manufacture all of its phones in India by 2018, its co-founder said, as it shifts production from China back home, where costs are becoming cheaper. Rahul Sharma said with less than two-thirds of its products are assembled in India currently and full home production now made economic sense given rising Chinese ... Read More »

BlackBerry reports fiscal Q3 loss as widely anticipated

TORONTO: BlackBerry Ltd reported a fiscal third-quarter loss as widely anticipated on Friday, but the company posted its first quarter-to-quarter revenue gain in over two years, indicating that turnaround efforts may be gaining traction. In the quarter ended 28 November, the Waterloo, Ontario-based company reported a loss of $89 million, or 17 cents a share. That compared with a year ... Read More »

Birgunj Customs loses Rs25b revenue

KATHMANDU: Birgunj Customs Office has lost Rs25 billion in revenue as a consequence of the ongoing Tarai unrest and India’s trade embargo against Nepal. Cargo traffic through Birgunj, the country’s largest transit point, has been obstructed for four consecutive months, with imports and exports virtually halted. The customs office said that it had revised its revenue collection target downward to ... Read More »

China retail sales to expand 10.7% in 2015

BEIJING: China’s retail sales, a key gauge of domestic consumption in the world’s second-biggest economy, is likely to post slower growth this year compared with 2014, the commerce ministry said. Retail sales may expand around 10.7% in 2015, Shen Danyang, spokesman at the Ministry of Commerce, told a news conference in Beijing on Thursday, without giving a reason. Retail sales ... Read More »

Kailali Customs fails to collect revenue in 4 months

KATHMANDU: Kailali Customs office, which failed to collect as much revenue as expected in the first four months, has been able to collect double the estimated revenue in the fifth month. The office collected Rs 300 million revenue during the last one month from mid-November to mid-December, which was double the estimated amount. “We failed to collect as much as ... Read More »

KPMG announces 2.6% boost in revenues

LONDON: Accounting firm KPMG has announced a boost in revenues driven by its tax and auditing services, writes Emily Davies. Its takings rose from £1.9billion to £1.96billion in the year to September 30. Efforts to focus on its most popular services paid off, with profits from auditing rising 9 per cent from £181million to £197million, while income from its tax ... Read More »

JMW revenue increases 17.8%

LONDON: Revenue to the end of November was £11.8 million compared to £9.9 million this time last year. This puts the firm well on course to achieve more than its £20 million target by the financial year end. A Manchester law firm is celebrating after revenue shot up 17.8 per cent. JMW Solicitors LLP announced turnover for the first first ... Read More »

Scholastic Corp. earns $619m revenue in Q2 of 2016

WASHINGTON: Global children’s publisher Scholastic Corporation earned $619 million in revenue during the second quarter of fiscal 2016 up from $611.1 million during the comparable quarter last year, the company reported today. Operating profit for Q2 2016 were down 5 percent versus the prior year period. The company’s sales during the quarter were driven by sales growth in book fairs ... Read More »

FuelCell Energy reports revenue down for fiscal 4Q15

WASHINGTON: FuelCell Energy (FCEL) reported total revenues of $51.5 million for fiscal 4Q15 compared to $54.4 million for fiscal 4Q14. The fall resulted from a fall in revenues from service agreements and advanced technology contracts. However, this was still a positive surprise, as FCEL’s revenues exceeded analysts’ estimates. The main product from FCEL’s portfolio is the direct fuel cell (or ... Read More »

ANF seizes 4.7 tons drug in seven raids

ISLAMABAD: The Anti-Narcotic Force (ANF) has seized huge cache of drugs comprising 4.7 tons hashish and 1kg heroin during seven operations at different cities of the country. During operations, the ANF also apprehended 6 offenders allegedly involved in drug trafficking including a woman, while impounding three vehicles. The ANF Quetta, in an intelligence-led operation carried out near Northern Bypass, Quetta, ... Read More »

Dar vows to facilitate textile sector

ISLAMABAD: The textile sector is the most important foreign exchange earner for the country and it would be facilitated in every possible manner to perform at optimum level. This was stated by Federal Finance Minister Ishaq Dar during a meeting with a delegation comprising representatives of textile industry. The delegation also apprised him of the problems faced by the value ... Read More »

Irrigation Dept recovers more than Rs28m abiana

MULTAN: The Punjab Irrigation Department recovered more than Rs28 million water rates (abiana) from growers during the Rabbi season 2014-15. According to Irrigation sources, the department’s teams recovered water rates Rs28,325,300 from growers in four districts of irrigation Multan zone. This recovery included over Rs 3 million from Multan, over Rs 13 million from Lodhran district, over Rs 15 million ... Read More »

Ginneries receive more than 9m cotton bales

MULTAN: The ginneries have received more than nine million seed cotton (phutti) bales across Pakistan till December 15 as it was less than 31.74 percent compared to the same period of last year. According to a fortnightly report issued by Pakistan Cotton Ginners Association (PCGA) on Friday, the total 90,344,118 cotton bales reached ginneries till December 15, while 13,233,986 bales ... Read More »

Dong Nai exceeds FDI target of $1.5b in 2015

DONG NAI: Foreign direct investment (FDI) registered in southern Dong Nai Province has hit US$2.4 billion as of November 20, exceeding expectations and this year’s target of $1.5 billion. According to the province’s Department of Planning and Investment, of the sum, $1.75 billion was for 100 newly-licensed projects while the remainder from 86 operational ones to raise their capitals. Most ... Read More »