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Author Archives: CT Report

Aftab Ahmad assumes charge as Member (Taxpayers Audit)

ISLAMABAD: Aftab Ahmad, a BS-21 officer of Inland Revenue Service, has assumed the charge of the post of Member (Taxpayers Audit), Federal Board of Revenue (HQ), Islamabad. The officer, in pursuance of Board’s Notification No.2875-IR-I/2015, dated 08.12.2015, assumed the charge of the post of Member (Taxpayers Audit), FBR (HQ), Islamabad, with effect from December 09. Read More »

Pervaiz Alam takes charge as Member

ISLAMABAD: Muhammad Pervaiz Alam, a BS-21 officer of Inland Revenue Service, has assumed the charge of the post of Member, Federal Board of Revenue (HQ), Islamabad. Pervaiz Alam, pursuing the Law, Justice and Human Rights Division’s Notification No.F.1(42)/2013-A.IV, dated 20.11.2015, took the charge of the post of Member, FBR (HQ), Islamabad, with effect from December 10. Read More »

KCB chief executive on Sh4.6m monthly

NAIROBI: KCB Group chief executive Joshua Oigara yesterday followed in the footsteps of his Safaricom counterpart Bob Collymore in publicly declaring his wealth. Oigara, 40, said he is worth Sh220 million. His assets are valued at Sh350 million, but he has a Sh130 million loan which erodes his net worth. The chief of the largest bank in East and Central Africa ... Read More »

Performance allowance of 229 IR officers restored on assets declaration

ISLAMABAD: Federal Board of Revenue has restored performance allowance in respect of 229 Inland Revenue Service officers of BS-16 after completion of their declaration of assets. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the Inland Revenue Service officers, 15 Assistant Private Secretaries, 30 Auditors, 3 Data Processing Assistants, 6 Deputy Superintendents, 11 Inland ... Read More »

Performance allowance of 92 IR officers of BS-16 restored

ISLAMABAD: Federal Board of Revenue has restored performance allowance in respect of 92 Inland Revenue Service officers of (BS-16). The performance allowance (equivalent to 100 per cent basic pay), which was discontinued inadvertently vide FBR’s Notification No 2127-IR-IV/2015, dated 09,09,2015, has been restored with effect from September 9, 2015. The officials, whose performance allowance was discontinued on account of imposition ... Read More »

Dy Collector Yawar granted leave to visit Astana

ISLAMABAD: Yawar Nawaz, a Pakistan Customs Service officer of BS-18, presently posted as Deputy Collector, Model Customs Collectorate of Exports, Custom House, Karachi, has been granted four-day Ex-Pakistan leave on full pay to visit Astana, Kazakhstan. Read More »

Nasir Ghouri relinquishes charge as Chief (BTB)

ISLAMABAD: Muhammad Nasir Khan Ghouri, a BS-20 officer of Inland Revenue Service, Friday relinquished the charge of the post of Chief (BTB), Federal Board of Revenue (HQ), Islamabad. Ghouri, pursuing the Board’s Notification No.2878-IR-I/2015, dated 08.12.2015, relinquished the charge of the post of Chief (BTB), FBR (HQ), Islamabad, with effect from December 11. Read More »

Kenya signs 3 contracts on renewable energy in Paris

NAIROBI: Kenya has signed three deals on reinforced corporation in sustainable energy intended to drive the country to cut on greenhouse gas emissions. Environment Ministry Cabinet Secretary Prof Judi Wakhungu signed the three deals that will ensure the country produces clean energy. Wakhungu entered into a renewable energy investment agreement worth Sh1 billion (10 million USD) deal with the Renewable ... Read More »

Iran petrochemical prepare for direct global trade post-sanctions

TEHRAN: Petrochemical suppliers in Iran are strengthening their internal financial processes to prevent any snags in export operations when international sanctions are lifted, allowing them to deal directly with overseas customers, industry sources said on Friday. “Suppliers in Iran are confident sanctions will be lifted by Q1 [first quarter] or Q2 [second quarter] next year. They are currently putting forward ... Read More »

MEIKLES Ltd records 15% increase in revenue

HARARE: Meikles-Hotel MEIKLES Limited recorded a 15 percent increase in turnover for the half year period ended September 30, 2015 to $255,6 million from $196.2 million prior year comparative due to increase in sales volumes from TM and Pick n Pay. The supermarkets contributed 196,7 million to total revenue during the period up from 167,9 million during the prior period. ... Read More »

African Development Bank approves $53,24m to fund water projects

HARARE: The African Development Bank (AfDB) has approved a $53,24 million grant to fund water and sewer projects in Bulawayo, which will benefit over 400 000 residents in the country’s second largest city. The grant was approved during AfDB’s executive directors meeting in Abidjan, Ivory Coast, on Wednesday. The money will fund Bulawayo’s Water and Sewerage Services Improvement Project (BWSSIP) meant ... Read More »

Researchers reveal ending your texts with a full stop is bad-mannered

LONDON: Ending your texts with a period is truly monstrous. We all know this. Grammar be darned, it just doesn’t look friendly. Now a study has confirmed it. Researchers led by Binghamton University’s Celia Klin report that text messages ending with a period are perceived as being less sincere, probably because the people sending them are heartless. “Text messaging is ... Read More »

Researchers develop camera that can see around corners

HARROW: The ultra-fast camera developed by researchers at Heriot-Watt University in Edinburgh, Scotland, can do something which has been thought next to impossible. The camera cannot just only see around corners, but can also tell if hidden objects have moved. According to its makers, the camera uses echo mapping, which is an established technique used to locate objects around a ... Read More »

Researcher discover new members of horned dinosaurs family

FRANCE: Researchers after studying the recently found fossils of one of the oldest-known members of the dinosaur group like Triceratops said that the forerunners of this giant beast were far more modest. A team of scientists on Wednesday announced that they have found remains of a spaniel-sized dinosaur in the Gobi Desert in western China’s Xinjiang Province. Scientists named the ... Read More »

Japan’s exports expected to fall for second straight month in Nov

TOKYO: Japan’s exports were expected to fall for a second straight month in November, a Reuters poll found, which would swing the trade balance back into deficit, showing sluggish overseas demand holding back economic recovery. Exports were expected to dip 1.5 per cent in November from a year earlier, falling for a second straight month, the poll of 20 analysts ... Read More »

South Korean stocks shed 0.3% by midday

SEOUL: South Korean stocks shed 0.3 percent late Friday morning as investors remain cautious ahead of the upcoming U.S. Fed rate decision. The benchmark Korea Composite Stock Price Index (KOSPI) fell 5.39 points to 1,946.18 as of 11:20 a.m. The index opened higher in line with overnight gains in the U.S. but it soon reversed course with foreign investors expanding ... Read More »

Exports decrease by 14% to $8.5b in July-Nov from $9.9b

ISLAMABAD: Exports from the country decreased to $8.5 billion in five months (July-November) of the year 2015-16 from $9.9 billion of the same period of previous year, showing 14 per cent decline. According to the latest data of Pakistan Bureau of Statistics, imports decreased by 9 percent to $18.5 billion in July-November 2015-2016 from $20.3 billion of the same period ... Read More »

Indian thermal coal imports fall 9% on year

NEW DELHI: Indian power utilities imported about 54.4 million mt of thermal coal during the April-November period, down 8.8% from the same period last year, according to latest data from India’s Central Electricity Authority, or CEA. Of the total quantity, 25.3 million mt was imported by 34 utilities for blending with domestic coal, while 29.1 million mt was imported by ... Read More »

China’s yuan drops to lowest level against USD in over 4-year

BEIJING: China’s yuan dropped to its lowest level against the dollar in over four years Friday, as the central bank steadily guides the currency lower amid an economic slowdown and hefty capital outflows. The yuan, or renminbi as it’s also known, fell to 6.4550 against the dollar, its lowest level since August 2011. Earlier Friday, the People’s Bank of China ... Read More »

National Social Security Authority loses $11,4m in closed banks

HARARE: The National Social Security Authority (Nssa) — mandated to provide social security to workers — has all but lost US$11,4 million which it invested in financial institutions that have gone under due to mismanagement and economic problems buffeting the country. Nssa released unsecured public funds to several banks including Interfin (US$4 930 767), Capital (US$4 196 000), Royal (US$343 ... Read More »