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Author Archives: ghadia

Oman’s MSM30 Index down 0.05% on vigilant trading

MUSCAT: Oman’s MSM30 Index down by 0.05 percent to closed at 6,566.57 points and MSM Sharia Index slightly up by 0.01 percent to close at 997.28 points. As many as 1,216 trades were executed during the day’s trading session generating turnover of OMR5.93 million with more than 16.98 million shares changing hands. Out of 51 traded stocks, four advanced, 17 ... Read More »

Russian govt asks parliament to allow spending of $50.36b from Reserve Fund in 2015

MOSCOW: Deputy Finance Minister, Tatiana Nesterenko, said that government would ask parliament to allow spending of up to 3.2 trillion rubles ($50.36 billion) from the Reserve Fund in 2015. The increase means that Russia could spend well over half of the fund, currently worth $85 billion, in a single year, a rapid run-down of the fiscal buffers that underlines the ... Read More »

Bangladesh Customs to investigate fraud in vehicles import

DHAKA: Bangladesh Customs Comptroller, Nathan Kama, said that customs has investigated fraud in import of vehicles and identified a good number of suspected importers whom they believe had been involving in fraudulent dealings in the past. He added after revealing a multi-million dollar bust operation involving an unidentified logging company in the country the past few weeks. This involved a ... Read More »

Dubai Customs attends conference on ‘Synthetic Drugs and Psychotropic Substances’

Dubai: Dubai Customs attended a conference on ‘New Synthetic Drugs and Psychotropic Substances’ in Abu Dhabi, organized by the Ministry of Interior (MoI) in collaboration with United Nations Office on Drugs and Crime (UNODC). Undersecretary of the Ministry of Interior Lieutenant-General Saif Abdullah Al Sha’far opened the conference in the presence of an elite of experts, academics and anti-drug specialists ... Read More »

Goa Congress committee urges anti-narcotics cell to fight drug smuggling

PONDA: Goa Pradesh Congress Committee (GPCC) has urged that government should set up an anti-narcotics cell to fight against drug smuggling. North Goa, Durgadas Kamat, organizing secretary of the GPCC, claiming that at least one case of drugs recovery is being registered in the coastal belt, and also demanded that the House committee report on police drug mafia nexus be ... Read More »

Vizag Port decides to install 2-mobile cranes worth Rs700m

NEW DELHI: Indian Visakhapatnam Port has decided to install hi-tech 100-tonne 2 mobile cranes worth Rs 700 million, to handling Panamax vessels in the Inner Harbour. Each crane costs around Rs 35 crore The port is already operating two such cranes in WQ-1, 2 and 3 and three in EQ 8 and 9. Two have been installed at WQ-6 and ... Read More »

Iran, Turkmenistan agree to enhance customs cooperation

TEHRAN: Iran and Turkmenistan agreed on a deal to enhance customs cooperation in a meeting at Ashgabat. The Iranian side was represented at the meeting by the deputy foreign minister for consular and parliamentary affairs, Hasan Gashgavi. The sides also discussed the development of cooperation in the improvement of legal aspects of consular issues, cooperation in border control, and the establishment ... Read More »

France, Germany, UK agree to boost business ties with Iran

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China allows iron ore ships to enter into Chinese dock

BEIJING: Chinese government allowed Vale SA’s large vessels with a capacity of 400,000 tons to enter in Chinese ports, a circular of standards setting issued by Ministry of Transports stated. The standards set a ship’s maximum length at 362 meters, width at 65.6 meters and height at 30.5 meters. The amount of cargo is capped at 403,844 tons. The government ... Read More »

Chennai Metro Water collects Rs3.3m from tax defaulters

CHENNAI: Chennai Metro Water has collected Rs 3.3 million pending water and sewerage tax from defaulters during a special drive launched in Koyambedu and Mannady areas. “The drive to collect water and sewerage tax which is part of property tax at 7 per cent per annum of the annual value fixed by the Corporation of Chennai was launched on Friday,” ... Read More »

LCCI seeks budget proposals from members as FBR starts budget-making exercise

LAHORE: The Lahore Chamber of Commerce and Industry has sought budget proposals from its members. The LCCI President Ijaz A. Mumtaz said that LCCI members, Conveners, Co-Conveners of the LCCI Standing Committees and Lahore based trade & industrial associations should prepare and submit properly worked-out proposals to the LCCI as the Federal Board of Revenue had already started the budget ... Read More »

Russia, North Korea set up dual trade of $1b

MOSCOW: Russia and North Korea setting up dual trade that expected to reach at one billion dollar by 2020. Both countries have planned to carry out future trade in rubles. This deal will help Russian companies with business partners in North Korea to work on trade and investment. “This is undoubtedly a new stage of business cooperation between Russia and ... Read More »

Four big Swiss refineries process 70% of global gold, Russia store 55 tons of gold in Switzerland

MOSCOW: Russia stored 55 tons of gold in Switzerland last year. A staggering 70% of global gold is processed by just four big Swiss refineries: Valcambi, Argor Heraeus, Pamp and Metalor. Raw gold, often of low purity, is refined, melted down and recast into smaller bars in the country. While calming down considerably from the torrid pace of previous years, ... Read More »

Nigerian Customs confiscates 672 expired imported food items

ABUJA: Nigerian Customs seized 672 expired imported supermarket food items. Handing over the goods to a Deputy Director, Ports Inspection, National Agency for Food and Drug Administration and Control (NAFDAC), said the expired goods were discovered upon 100 per cent examination. She said that the 40 ft container, No GCNU 46394/5, was examined and found to contain 1,268 cartons and ... Read More »

Crude Oil up 0.5% in Asian trade market as China cut bank reserve requirements

DUBAI: Brent crude edged up 0.5 percent in Asian trade, after China cut bank reserve requirements, but it still traded below $55 per barrel. It had plunged 5.5 percent in the previous session. Gulf stock markets may end the week on a soft note after oil prices tumbled and local companies announced a mixed set of fourth-quarter results. Earlier this ... Read More »

Four big Swiss refineries process 70% of global gold, Russia store 55 tons of gold in Switzerland

MOSCOW: Russia stored 55 tons of gold in Switzerland last year. A staggering 70% of global gold is processed by just four big Swiss refineries: Valcambi, Argor Heraeus, Pamp and Metalor. Raw gold, often of low purity, is refined, melted down and recast into smaller bars in the country. While calming down considerably from the torrid pace of previous years, ... Read More »

Oman Customs tightens up borders security

Muscat: Oman Customs had tightened up its borders security and other areas to combat  smuggling into the country. The Customs has also set up checkpoints in the areas where smuggling of Qhat is suspected. Coast guards patrol Omani territorial waters on a daily basis to prevent smuggling of Qhat or other narcotic substances into the country. Al Abri added that ... Read More »

Dubai Customs visits to Hamdan University to discuss Government Excellence Program

DUBAI: Director of Dubai Customs visited to Hamdan bin Mohammed Smart University (HBMSU) to discussed the Government Excellence Program which is carried out at the HBMSU premises. The Director of Dubai Customs met with Dr Ahmed Al Nuseirat, General Coordinator of Dubai Government Excellence Program, Hazza Al Nuaimi, Senior Manager of Excellence Initiatives at the DGEP, and other DGEP officials. ... Read More »

Dominican Customs files petition against court ruling on Web shopping tax

SANTO DOMINGO: The Customs Agency’s lawyers filed the appeal at the Constitutional Court on Monday against court’s ruling which orders it to desist from charging taxes on items bought online that cost less than US$200. The National Commercial Businesses Organization (ONEC), the Santo Domingo Chamber of Commerce, the National Importers Association (ANI) and National Business Union also filed an appeal ... Read More »

Sweden’s CybAero to deliver 3 Unmanned Helicopter systems to China Customs

HONG KONG: Swedish CybAero Company announced to deliver three Unmanned Helicopters system to the China Custom this year. The systems are to be stationed on three new vessels China Customs will be commissioning in 2015. CybAero commenced factory testing on the first system today. The purpose of the factory testing is to verify that the system meets the requirements and ... Read More »