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Author Archives: Sadar Kareem

US customs seizes $1m in Narcotics at Pharr International Bridge

PHARR: U.S. Customs and Border Protection, Office of Field Operations (OFO) at the Pharr International Bridge arrested a 27-year-old man from Pasadena, Texas after discovering $1,189,000 worth of alleged heroin, cocaine and methamphetamine within the Honda Civic he was driving. Packages from a combination load of heroin, cocaine and methamphetamine valued at $1 million seized by CBP officers at Hidalgo/Pharr/Anzalduas ... Read More »

US confirms import duties on melamine from China

NEW YORK: The United States confirmed steep duties on imports of melamine from China after finding the goods materially injure local producers. U.S. International Trade Commission policymakers voted unanimously in favor of duties on Chinese imports, after a complaint from the Cornerstone Chemical Company. Commissioners voted against duties on products from Trinidad and Tobago. In November, the Department of Commerce ... Read More »

China beer imports surge 63% as local output drops

BEIJING: Domestic beer volumes in China dropped in the first half of this year as imports continued to grow, new figures show. Volumes for domestic brands including Yanjing and Tsingtao fell 8% in the six months to the end of June, according to FT Confidential Research, a research service from the Financial Times. The decline was blamed on bad weather ... Read More »

Irish authorities seize over 4000 bottles of counterfeit of liquor

DUBLIN: More than 4,000 bottles of counterfeit vodka have been discovered at a premises in Co Louth. The operation, described by a garda spokesman as a “large scale illegal vodka bottle-labelling and stamping plant”, was uncovered by gardaí and Revenue customs officers on Tuesday night. The bottles of vodka, false labels and UK tax stamps were found during the raid ... Read More »

Nigeria customs boss warns corrupt officials

ABUJA: Hameed Ali, the comptroller general of Nigeria customs service has warned officers sternly that he would not condone any act of corrupt practise adding that erring officers would be dismissed and jailed. The Nation reports that the customs boss gave this warning to officers in Calabar where he also told them that he had zero tolerance for indiscipline. “I ... Read More »

Russia to curb Ukraine imports over EU pact

BRUSSELS: Russia is likely to penalise Ukrainian imports from January after EU-brokered talks failed to find a compromise on Tuesday, exactly a month before the launch of an EU-Ukraine free trade pact that Russia opposes. “It is a very probable scenario that there will not be an agreement before Jan. 1 and the non-preferential trade regime will be introduced,” Russian ... Read More »

US: Heroin, cocaine, cash seized in Huber Heights raid

COLUMBUS: The raid and arrests are the result of an investigation into trafficking of heroin in the city of Dayton, according to Dayton Sgt. John Sullivan. Sullivan said the apartment that was searched is the residence of the suspect, who was taken into custody without incident, along with a female resident for allegedly permitting drug abuse. Heroin, cocaine and an ... Read More »

India: Kolar DC orders auction of seized rice

KOLAR: Deputy Commissioner K.V. Thrilokchandra has ordered auction of the rice which was illegally transported by a rice mill in Bangarpet a couple of months ago and subsequently seized by authorities. The Food, Civil Supplies and Consumers Affairs Department officials seized 18,676 quintals of rice at Bangarpet Railway Station on September 14 this year. By the time officials reached the ... Read More »

Lufthansa Cargo, ANA Cargo expand joint network in Japan

FRANKFURT: Lufthansa Cargo and All Nippon Airways (ANA) are kicking-off the expansion of their joint network between Europe and Japan by adding connected destinations in Japan: First Fukuoka on the main island Kyushu in south Japan, later to be followed by Sapporo on the north island. Starting from December, ANA flights from Tokyo Haneda to Fukuoka Airport (FUK) can be ... Read More »

Nigeria’s Finance Minister takes aim at govt spending

ABUJA: The country’s new finance minister said she can save as much as $5 billion annually by cracking down on waste in more than 450 government agencies, a strategy that will determine how well Africa’s largest economy weathers its slowest growth spell since 1999. Kemi Adeosun, who took office in November, offered an early glimpse of how Africa’s top crude ... Read More »

Euronav sales of suezmax tanker $22.25m

BRUSSELS: Belgium’s Euronav has confirmed the sale of its 17-year-old suezmax Cap Laurent for $22.25 million. Brokers reported the sale in mid-November, citing the buyer as India’s Seven Islands Shipping. The tanker was delivered to its new owner on November 26. Euronav says the sale generated a capital gain of around $11.1m, which will be recorded in the fourth quarter. ... Read More »

TEN confirms long-term suezmax timecharter

ATHENS: Tsakos Energy Navigation (TEN) confirmed that it has fixed one of its suezmax tankers on a “long-term” timecharter to “to a major oil concern”. Last week, brokers reported TEN’s suezmax Silia T had been fixed to Russia’s Litasco Group for 18 months at $34,000 daily. The charter period will commence in December after the vessel has completed its current ... Read More »

Australia wheat crop cut as El Nino brings hot, dry weather

SYDNEY: Australia cut its wheat harvest estimate 5.1 percent after dry and hot weather linked to El Nino curbed yields in the world’s fifth-biggest exporter. Output may total 24 million metric tons in 2015-16 from 25.3 million tons forecast in September, the Australian Bureau of Agricultural & Resource Economics & Sciences said in a report on Tuesday. That compares with ... Read More »

Venezuela warns OPEC of oil price drop to mid-$20s

CARACAS: Saudi Arabia is working with producers inside and outside the 12-member group to stabilise the market, Saudi Oil Minister Ali Al Naimi said in Bahrain Thursday. The country is pleading OPEC to adopt a certain equilibrium price that would cover the entire cost of new investment in the production capacity. Some investors interpreted this as a sign that Saudi ... Read More »

Guyana: IPED takes action against rice farmers

GEORGETOWN: The Institute of Private Enterprise Development (IPED) was recently forced to commence enforcement of security on the assets charged by seven rice farmers and took possession of the relevant assets of three farmers as settlement. IPED in a release said the other four negotiated arrangements that it found satisfactory. “In cases where possession was taken, the loans were in ... Read More »

North Dakota agric trade delegation travels to Cuba

HAVANA: In late October a delegation of agriculture representatives from North Dakota traveled to Cuba on a mission to establish trade relationships. The group, led by North Dakota Agriculture Commissioner Doug Goehring, were in Cuba from Oct. 25-28, and included representatives from several commodity groups and agricultural organizations. One of those making the trip was Mark Formo, president of the ... Read More »

Texas sees business potential in trade with Cuba

HAVANA: In true cowboy spirit, many Texans see Cuba as a new frontier. Businesses in the state stand to generate jobs and millions of dollars in trade with Cuba as the United States takes steps to open relations with the communist country for the first time since 1961. Texas could see $43 billion in total economic impact and 214 new ... Read More »

Indonesia continues Pakistani kinnow imports

JAKARTA: Indonesian Consul General in Karachi Hadi Santoso, while speaking to a delegation of the All Pakistan Fruit and Vegetable Exporters, Importers and Merchants Association (PFVA), has assured traders that his country will continue to import Pakistani oranges. The PFVA delegation expressed concern over the recent developments that implied Indonesia was considering banning import of oranges from Pakistan. “An Indonesian ... Read More »

US platinum jewelry imports surge in Q3

NEW YORK: U.S. jewelry imports jumped 85 percent for platinum in the third quarter of 2015 and 12 percent for gold, ahead of the holiday season, as prices for both precious metals fell for the fifth straight quarter, Thomson Reuters GFMS calculations showed on Monday. “The holiday season is the most significant contributor to annual retail sales,” said Chicago-based Erica ... Read More »

Niagara police officer sentenced in cheese smuggling case

TORONTO: A Niagara Regional Police officer has been sentenced to a total of four months in custody after being convicted of three of six charges related to a cheese smuggling operation. Const. Scott Heron was charged in September 2012 following an investigation into an operation involving the purchasing cases of cheese in bulk from south of the border and bringing ... Read More »