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Author Archives: CT Report

Kuwait’s Jazeera Airways reports 36% growth in flown passengers in July

KUWAIT: Jazeera Airways yesterday released its Operational Performance Report for the month of July 2015, which showed a 36% increase in total flown passengers from July 2014. The increase of flown passengers in July was driven by continued strong demand on all routes served by the airline, better flight schedules, and a constantly improving booking and check-in experience. Jazeera Airways ... Read More »

SL gets Singapore’s IRA help to overhaul tax system

COLOMBO: Sri Lanka’s Inland Revenue Department is receiving help from the Inland Revenue Authority of Singapore to overhaul the complicated local tax system, Central Bank Governor Arjuna Mahendran said in an interview with The Strait Times. “The Inland Revenue Authority of Singapore is involved in a technical assistance project with Sri Lanka in the revenue department,” he was quoted as ... Read More »

Penang customs seizes 22kg of drugs, 5 Indonesian arrested

GEORGETOWN: The Penang Customs Department arrested five Indonesian men and seized from them 22.067kg of drugs worth RM3.17 million in a raid at the Perai Dock, Seberang Perai. Its director, Datuk Mohd Pudzi Man said in the 5pm raid, a team from the Penang Customs Marine Unit arrested the five men, aged between 30 and 54, and inspected the Indonesian-registered ... Read More »

Hon Hai sales jump by 6.48%, Pegatron sales up 16.4% in Aug

TAIPEI: Apple Inc’s iPhone main assemblers Hon Hai Precision Industry Co and Pegatron Corp yesterday reported the highest August sales in their histories, with both expecting sales for this month to continue expanding on the back of new iPhone models. Hon Hai said consolidated sales last month rose 6.48 percent to NT$292.91 billion (US$89.1 billion) from a year earlier, pushing ... Read More »

Taiwan’s Gourmet Master sales surge 7% to $56.9m in Aug

TAIPEI: Shares for Gourmet Master Co Ltd, best known for its coffee shop and bakery chain 85°C, rose 3.57 percent yesterday as the company reported steady growth in sales for last month. Consolidated sales rose 6.64 sequentially and 7 percent year-on-year to NT$1.87 billion (US$56.9 million) last month, with aggregate sales in the first eight months rising 13 percent annually ... Read More »

Mexico likely to raise broiler production

MEXICO CITY: After implementing strong biosecurity measures, Mexico rebounded from avian influenza outbreaks with growing broiler production, according to a new report from the US Department of Agriculture’s Foreign Agricultural Service. Broiler meat production for 2016 continues to grow at two per cent annually, the report said. It predicted production in 2016 at 3.16 million metric tons (MMT). Appropriate measures ... Read More »

Indonesia’s PT Waskita needs Rp 10t for toll road projects in 2016

JAKARTA: State-run construction company PT Waskita Karya says it will need Rp 10 trillion (US$700.75 million) next year for the development of several toll roads with a total length of 500 kilometers, according to its top executive. The money to finance the projects will be raised by issuing bonds and offering one of its subsidiaries to the stock market. Waskita ... Read More »

Pakistan is attractive destination for foreign investment:  Zhao Qingwei

LAHORE: Mutual cooperation and joint ventures between Pakistani and Chinese businessmen in agriculture, livestock, infrastructure, energy, automobile and other sectors would further cement the friendly relations of the two countries. These views were expressed by the LCCI President Ijaz A. Mumtaz while addressing the two different delegations of Yantai Chamber of Commerce and Industry and a Chinese company Shandong YABAITE ... Read More »

Senate standing body asks govt to clear pending refunds

  ISLAMABAD: Senate Standing Committee on textile industry, in its meeting, discussed in detail the serious crisis engulfing the textile industry of Pakistan and has asked the government to liquidate the pending refunds to the textile exporters as early as possible. he committee asked Federal Board of Revenue to release the sales tax and customs refunds which are pending for ... Read More »

Govt should provide funds for construction of lawyers’ chambers in G-10

ISLAMABAD: The presence of district courts in F-8 Commercial Center is a great security threat for the lives of honorable judges and lawyers while traders and residents of the area are also facing many problems and government should provide urgent funds for the construction of lawyers chambers on the plot adjacent to Islamabad High Court building in G-10 so that ... Read More »

Pakistani workers’ remittances rise 5.4% to US $3.1b

KARACHI: Overseas Pakistani workers remitted US $ 3190.67 million in the first two months (July to August) of FY16, showing a growth of 5.42% compared with US $ 3026.63 million received during the same period in the preceding year. During August 2015, the inflow of worker’s remittances amounted to US $1527.06 million, which is 8.21% higher than July 2015 and ... Read More »

PCGA demands  govt resolve issues of textile sector

MULTAN: The Pakistan Cotton Ginners Association (PCGA) has urged the government to address the issues of the people attached to the textile sector. The Pakistan Cotton Ginners Association warned ginners not to purchase excessive seed-cotton from the farmers in the start of season and run their business carefully otherwise they would face financial losses.  Pakistan Cotton Ginners Association chairman Hafeez ... Read More »

Sialkot traders upset over delay in payment of sales tax refunds  

SIALKOT: The Sialkot based traders, industrialists and exporters expressed grave concern over the inordinate delay in the payment of sales tax refund and duty drawback claims, and said that the delay was halting the flow of capital in the industries. They said that delay has been leaving very bad effects on the industrial production. They added that the business community’s ... Read More »

ICCI honors Special Olympics squad for winning 35 medals‏

ISLAMABAD: Islamabad Chamber of Commerce and Industry organized a ceremony in honor of Pakistan’s Special Olympics squad that won 35 medals in Special Olympics 2015 concluded recently in Loss Angeles, USA. Mehfooz Elahi, Head of Pakistan’s Special Olympics squad and former President ICCI, Arshad Javed, National Director Sports, Special Olympics, Saeed Ahmed Bhatti coach special Basketball team and a large ... Read More »

Car financing reviving auto sales in country

LAHORE: Carmudi’s report on “Car Financing in Pakistan” provides a look into current and future state of the flourishing car financing market and how consumer attitudes towards credit transformed in recent years. In May 2015, the IMF stated that Pakistan made “significant progress” by fulfilling targets under its $6.6 billion loan program. The country’s economy is on a high with ... Read More »

Denmark seeks enhance trade ties with Pakistan

ISLAMABAD: For the first time ever, seven Pakistani textile companies will be participating in a delegation visit to Denmark for new business opportunities and partners. The visit has been arranged and supported by the Trade Council of the Embassy of Denmark in Pakistan in collaboration with the Danish Fashion and Textile Association. Assar Qureshi, Commercial Counsellor of the Danish Embassy, ... Read More »

LCCI decides to support today’s strike.

LAHORE: While supporting the stance of traders on the issue of withholding tax on banking transaction, the Lahore Chamber of Commerce and Industry has decided to observe strike today (September 9). According to a statement issued, the LCCI president Ijaz A. Mumtaz said that the Lahore Chamber of Commerce and Industry has decided to go with the traders as they ... Read More »

Finance Minister emphasizes all political parties to ink charter of economy

ISLAMABAD: Federal Finance Minister, Mohammad Ishaq Dar emphasized the need for all political parties to ink a charter of economy which, he said was the way to ensuring sustained economic development and continuity of policies. The Federal Minister said there should be “no politicking on economic matters, economy should be placed above all other considerations”, he remarked. The Minister was ... Read More »

LCCI demands NEPRA to fix power tariff

LAHORE: The Lahore Chamber of Commerce and Industry (LCCI) has demanded of the National Electric Power Regulatory Authority (NEPRA) to freeze the electricity tariff to keep Pakistani merchandise competitive According to a statement, the LCCI President Ijaz A. Mumtaz said that government would have to evolve a mechanism to fix the electricity prices in collaboration with the stakeholders for at ... Read More »

KPCCI-Iranian Consul General sign MoU to improve trade activities

PESHAWAR: Khyber Pakhtunkhwa Chamber of Commerce and Industries (KPCCI) President Faud Ishaq and Iranian Consulate General in Peshawar Syed Hamayun Amer Khalili has sign a memorandum of understanding (MOU) between the two countries to improve the trade, visiting of traders of both the countries and improving of education sector between the two countries. KPCCI president Faud Ishaq said that after ... Read More »