Tuesday , January 21 2020
Breaking News
Home / International Customs

International Customs

Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Vietnamese currency under bigger pressure in 2020

HÀ NỘI After being relatively stable last year, the foreign exchange rate of the Vietnamese đồng against the US dollar is forecast to be under greater pressure in 2020 due to both internal and external headwinds. Finance expert Nguyễn Trí Hiếu told Việt Nam News that pressure on the exchange rate would be bigger this year as a greenback supply ... Read More »

Kiev wants to speak to Germany, France about shooting in east Ukraine

KIEV: Ukraine wants to speak to Germany and France about an increase in shooting in the east of the country, Foreign Minister Vadym Prystaiko said on Monday. Two Ukrainian soldiers were killed and 10 were wounded at the weekend in the eastern Donbass region, where fighting between Russia-backed separatist fighters and Ukraine’s armed forces began in 2014. The separatists did ... Read More »

SoftBank offers to invest up to $40bn in Indonesia’s new capital

JAKARTA: Japan’s SoftBank Group has offered to invest between US$30 billion and $40 billion in the development of the new Indonesian capital on Borneo Island, a close aide of President Joko “Jokowi” Widodo said Friday. In a meeting last week with Jokowi, SoftBank chief executive officer Masayoshi Son expressed interest in participating in the development of the yet-to-be-named capital and ... Read More »

A top German carrier picks Huawei to help build its 5G network in potential snub to the US

Telefonica Deutschland, one of Germany’s top mobile carriers, has picked Huawei and Nokia to build out its 5G network. 5G refers to next-generation mobile networks that promise super-fast data speeds and low latency — a short amount of time between the data being summoned and it reaching its destination. The move is a potential snub to the U.S. government which ... Read More »

Belgian Companies In Las Vegas

Among others, the Flemish contingent includes MoNoA, a product that raises your body temperature and analyses your movements to gauge your stress levels. You simply attach it to your watch or bracelet. By anticipating stress-related symptoms, it optimises well-being. The product is much more than a simple gadget, as Stijn Bogaerts explains: “For people with disabilities who are not always ... Read More »

Trivago hit with 18 Commerce Commission complaints

The Commerce Commission says it has received 18 complaints about hotel comparison website Trivago. Trivago, part-owned by US-based Expedia, has been found guilty of misleading and deceptive conduct by Australia’s Federal Court for suggesting that top-listed prices on properties advertised on its site were the best. But hotels were instead found to have been ranked based on commission. “Trivago’s hotel ... Read More »

Chinese beef importers seek to renegotiate prices for Brazilian shipments: report

Chinese beef importers are seeking to renegotiate prices previously agreed when they closed deals to buy dozens of shipments from Brazil because values are too high, according to a report in the online edition of a local newspaper on Monday. The website of Folha de S.Paulo reported that some Chinese importers are refusing to pay for shipments that already arrived ... Read More »

Toyota makes new $394 million bet on flying taxis

Toyota Motor Co. is investing $394 million (¥43.3 billion) in Joby Aviation, one of a handful of companies working toward the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets. Toyota is the lead investor in Joby’s $590 million Series C funding, alongside Baillie Gifford and Global Oryx and prior backers Intel ... Read More »

Korean in net for smuggling 4.5kg of gold

A 32-year-old Korean national was arrested by the Department of Revenue Intelligence (DRI), an anti-smuggling wing of the customs department at the Jaipur airport with an illegal possession of 4.5 kg of gold in biscuit form. The price of the gold seized from the possession of the tourist worth nearly 1.85 crore in the international market. This is first ever ... Read More »

Two excise men held for booze smuggling links

PATNA: In a first-of-its-kind case since prohibition was imposed in the state, two excise officials have been arrested for links with liquor smugglers in Saharsa. Excise inspector Mohammad Faiyyaz Ahmed and assistant sub-inspector Virendra Pathak posted in Saharsa were arrested on Wednesday, while their district superintendent Mohammad Ashraf Jamal is absconding. “The inspector and ASI were called at the police ... Read More »

ADB raises $4.25 billion from US dollar bond market to boost OCR for 2020

The Asian Development Bank (ADB) raised a total of $4.25 billion from the US dollar bond market on Wednesday. The Manila-based multilateral development bank returned to the capital markets with a $2.25 billion worth three-year bond issuance and a $2 billion worth 10-year bond issuance. The amount raised is part of ADB’s efforts to raise $25 billion from the capital ... Read More »

Bank cuts Thai 2020 GDP growth outlook to 2.7%

SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy. Earlier this week the World Bank also downgraded Thailand’s economic growth ... Read More »

SAA may get just R44m of R877m Zimbabwe owes in ticket sales

SAA, the national airline that has entered business rescue, may only be offered 5% of the $60m (R877.2m) that its owed by neighbouring Zimbabwe in funds from ticket sales and hasn’t been able to extract from the country. The Reserve Bank of Zimbabwe’s monetary policy committee plans to “reject the majority of debts” owed to institutions, a move it hopes ... Read More »

Netflix Accused Of Using Netherlands To Avoid Its Tax Bill

Streaming media giant Netflix was accused of using the Netherlands as a major part of a tax haven scheme to reduce its income tax liabilities globally. A report released this week by Tax Watch UK said Netflix moved between $327 and $430 million into tax havens in 2018, out of its total global profits that year of $1.2 billion. About ... Read More »

Bank of Italy warns a number of the country’s smaller banks are at risk

ROME: A senior Bank of Italy official warned that a number of smaller banks, especially in the country’s disadvantaged south, were at risk of going out of business in a fast-changing industry and stressed the importance of government help. Speaking at a parliamentary hearing on the rescue of unlisted cooperative bank Popolare di Bari, Bank of Italy Deputy Governor Alessandra ... Read More »

Danske Bank to cut up to 108 jobs in Finland

COPENHAGEN: Denmark’s biggest lender Danske Bank plans to cut up to 108 jobs in Finland due to a reorganization of its unit there which employs around 2,000 people, it said. Danske Bank, which employs more than 20,000 in total, is cutting costs to cope with rising compliance costs and a tough business environment. Read More »

After Tesla’s record year in Norway, rivals gear up for 2020

OSLO: New electric car sales in Norway rose by a third last year amid soaring demand for Tesla Inc’s (TSLA.O) vehicles, but the pioneering US company will face a more competitive market in 2020 as rivals prepare to launch new electric models. Fully electric cars made up 42.4% of sales in the Nordic country last year, a global record, rising ... Read More »

East China customs seizes 58 endangered cactus seedlings

Qingdao Customs in east China’s Shandong Province said Thursday that it had seized 58 cactus seedlings in several inbound parcels sent from Germany and Italy. The cactus seedlings were identified as species covered by the Convention on International Trade in Endangered Species of Wild Fauna and Flora. Qingdao Customs discovered seven suspicious postal parcels during an inspection and later found ... Read More »

Australia welcomes US-China trade deal, despite possible costs

China’s commitment to buy $200bn of US goods over two years could come at the expense of Australian farmers and energy providers, but the “truce” in the countries’ trade war will be a confidence boost for global markets, trade minister Simon Birmingham has said. “This is welcome news. Australia has long called for a reduction, a cessation of the trade ... Read More »

Iran Says India Can Help Reduce Tension In Persian Gulf

Iranian Foreign Minister Mohammad Javad Zarif hopes that India can help reduce tensions in the Persian Gulf, referring to the recent situation between the Islamic Republic and the United States. Iran’s high-ranking official was on an official visit to India as part of the 4th Raisina Dialogue 2020 — a multilateral conference held annually in New Delhi. Since 2016, when ... Read More »