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Author Archives: CT Report

Sri Lankan Customs to stop smuggling of counterfeit goods

COLOMBO: Sri Lanka customs invited right holders of products to come forward to help authorities to stop importing counterfeit goods to Sri Lanka. Ashorf Samzudeen, deputy superintendent of Consumer Protection Unit, Sri Lanka Customs said they can fight against counterfeit and piracy only with the corporation of right holders, law enforcement agencies and legal professionals. “We are at the boarder ... Read More »

Macau casino revenue dips by 32.3% to $2.1bn in Nov

HONG KONG: Casino Revenue for Macau further dropped 32.3% in the month of November to 16.4 billion patacas ($2.1 billion), representing a revenue fall for the last 18 months. Macau, which generates two-third of its Gross Domestic Product (GDP) from gaming and casino operations, has been witnessing a continuous drop in casino revenues since mid-2014, as the Chinese government is ... Read More »

Uzbekistan approves new Customs codes

TASHKENT: The Senate of Oliy Majlis (upper house of parliament) of Uzbekistan has approved the new edition of the customs code of the republic. Uzbek Senator Tohir Bakhronov said at the meeting of the upper house of parliament that the new version of the customs code was developed due to the fact that the current code, adopted in 1997, in ... Read More »

Customs revenue collections keep on increasing with $20m more

BALTOMORE: The revenue intake at the Customs & Excise Division has continued to increase, with the department reporting a massive increase in collections for the period up to October 2015. Inspector and Customs Officer Randy Baltimore said the department has collected over $20 million exceeding its original target. “Our target was $261,851,350 which our actual collection was (up to) $282,667,664. ... Read More »

OmniVision reveneu rises 4% to $343.1 million

CALIFORNIA: At the end of April this year, OmniVision Technologies, Inc. OVTI signed a definitive agreement to be acquired by a consortium of Hua Capital Management, CITIC Capital and GoldStone Investment. Under the agreement, the consortium will acquire all the outstanding shares of the company in a cash transaction worth $29.75 per share or a total of approximately $1.9 billion. ... Read More »

Michigan’s congressional delegation seeks funds for port plaza

WASHINGTON: Three members of Michigan’s congressional delegation are again appealing to the Obama administration to give higher priority to funding an expanded customs plaza at the Blue Water Bridge in Port Huron in the next federal budget. The Blue Water Bridge, which links Port Huron with Sarnia, Ontario, has awaited a delayed $165 million construction project for several years. Sens. ... Read More »

South African Customs confiscates gold worth R3 million at airport

CAPE TOWN: The gold was found in the pockets and a moneybag of a male passenger who was hiding it under a Kurta worn over his clothing. South African Revenue Service Customs officials have confiscated gold worth almost R3 million at the King Shaka International Airport. In a second bust in KwaZulu-Natal‚ officials intercepted Ecstasy tablets in a suspicious parcel. ... Read More »

Sears Holdings revenue drops to $5.75 billion

ILLINOIS: Sears Holdings Corp. said its loss narrowed last quarter on fewer one-time expenses but sales dropped 20%, hurt by store closings and weaker revenue from clothing and consumer electronics. The Hoffman Estates, Ill., operator of Sears and Kmart department stores posted a net loss of $454 million for its third quarter ended Oct. 31 compared with a loss of ... Read More »

Nigerian Customs generates N1.35b revenue target in Nov  

ABUJA: The Ogun Command of the Nigeria Customs Service (NCS) generated N1.35 billion in November, up from its N750 million monthly revenue target. Mr Eporwei Edike, Assistant Comptroller-General of Customs in charge of Zone A, made the disclosure on Thursday during his visit to Ogun Customs Command at Iidroko. He applauded the efforts of the officers for exceeding their monthly ... Read More »

Customs wins 2 leagues clashes

CHENNAI: Customs had won two of its league clashes, while Spikers had lost two and was pushed into a must-win situation After having lost two close encounters, Chennai Spikers regrouped well to stun holder Customs Recreation Club (Chennai) 25-18, 23-25, 25-17 in a men’s Group A league fixture of the 65th State senior volleyball championship. However, both teams enjoyed the ... Read More »

Astronomers discovered young lithium-rich giant star

BRENT: An Argentinian team of astronomers from the Astronomical Observatory of Córdoba has announced the finding of a new exceptional young lithium-rich giant star, designated KIC 9821622. Using the data obtained with the high-resolution GRACES spectrograph at the Gemini North telescope in Hawaii, the scientists were able to determine the chemical abundances of 23 elements of this star as well ... Read More »

Indiana beats revenue target by $21.3 million in Nov

INDIANAPOLIS: Indiana beat its November revenue target by $21.3 million, or 2.1 percent, as Hoosiers last month earned more money than state officials expected but spent less of it. The $1.055 billion in total monthly tax collections also outpaced last November by $30 million, or 2.9 percent. That helped push state revenue in the current budget year, which began July ... Read More »

Customs assures traders Joint Border Management System not harmful

WELLINGTON: Delays to the introduction of the Joint Border Management System (JBMS) are not having any adverse impact on the industry, says Customs Brokers and Freight Forwarders Federation (CBAFF) Executive Director Rosemarie Dawson. A Parliamentary Select Committee heard today that gradual introduction of the second phase of the programme is now expected to be completed within the first half of ... Read More »

Samsung introduces Galaxy A3, A5 and A7

NEW DELHI: Korean handset maker Samsung has finally launched three much awaited smartphones in its Galaxy A series – Galaxy A3, A5 and A7. The trio will be available in China in mid-December 2015 and other markets in the future. The smartphones are believed to be the mid-range alternative to the Galaxy S series. Coming to specification features, the Galaxy ... Read More »

Plastic Studios announces Bound for PlayStation 4 today

LONDON: Not to be confused with Boundless or Paperbound, developer Plastic Studios (Linger in Shadows, Datura) announced Bound for PlayStation 4 today. Staniszewski assured that the time they have spent in development is well spent in optimizing the engine to deliver flawless, lag-free performance on PS4, and players are going to experience 3D platformer in a classic way. For those ... Read More »

Dairy importers protest against customs’ demand to pay $10 million

HANOI: Dairy producers and importers in Vietnam are ordered to pay tens of millions of dollars in back taxes over an imported milk ingredient. Eight dairy producers and importers in Vietnam have sought the government’s help, claiming that they are unfairly asked by customs to pay around VND1 trillion (US$43.84 million) in back taxes. In a letter sent to the ... Read More »

Toyota unveils S-FR sports car at Tokyo Motor Show

  TOKYO: Back in October, Toyota unveiled the long-awaited S-FR sports car concept at the Tokyo Motor Show. The tiny sports car was designed to compete with the likes of the Mazda MX-5 Miata, and will likely make it to production as a Scion, slotting underneath the existing FR-S in the automaker’s lineup. Now, Toyota has unveiled an updated version—the ... Read More »

Customs fears lack of resources can cost smuggling

WELLINGTON: Customs says a lack of resources means it cannot patrol almost half the highest risk maritime areas for illegal behaviour such as people smuggling and unlawful fishing. In its annual report, the agency says it allocated surveillance resources to 57 percent of those areas, well below the 80 percent target. Labour’s defence spokesman Phil Goff said Customs’ deputy comptroller ... Read More »

Researcher discovered how water escape from Saturn’s environment

WASHINGTON: A researcher has discovered how water ions escape from Saturn’s environment. University of Montana Professor Daniel Reisenfeld is a member of the Cassini research team. Cassini is a NASA-managed probe that studies Saturn. It has been in orbit continuously collecting data since 2004. One of the instruments on Cassini measures the planet’s magnetosphere – the charged particles, known as ... Read More »

Philippines Customs starts campaign against smuggling of Thai sugar

MANILA: Bureau of Customs (BOC) has intensified its campaign against the smuggling of Thai sugar—using China and Hong Kong as transshipment points—which has resulted in revenue loss to the government. This was disclosed to the Inquirer on Thursday by Customs Commissioner Alberto Lina shortly after filing smuggling charges in the Department of Justice against two trading firms for the illegal ... Read More »