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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

How the latest round of load shedding will hit South Africa’s economy

Market research firm Intellidex has published a new report highlighting the impact of load shedding and other recent developments on South Africa’s economy and projected growth. Head of Capital Markets Research at Intellidex, Peter Attard Montalto, said that load shedding, SAA, fiscal deterioration and ratings are not enough of a threat or a shock to a faster pace of reform ... Read More »

Illegal Fireworks Entering Netherlands Through Drug Channels: Police

Traders in illegal fireworks are increasingly making use of drug routes to bring their products into the Netherlands, according to the police. The bigger chance of fireworks sent by mail being intercepted, means that these traders are looking for other ways to distribute illegal fireworks, the police said, NOS reports. The illegal fireworks trade via the internet has declined sharply, ... Read More »

‘Not in national interest’: Ministers block foreigners from buying 4500ha of farmland

In a rare rejection of an Overseas Investment Office application, Canadians have been barred from buying more than 4500ha of South Island farmland. Mercury Agriculture LP, 92 per cent controlled by Canadian interests, cannot buy more than 2000ha of South Canterbury and Otago land because it is not in New Zealand’s interests, according to the office decision. Mercury wanted to ... Read More »

Some 738 Thousand Small-scale Businesses to Settle tax Debts

RIO DE JANEIRO, BRAZIL – Around 738,000 micro and small-scale defaulting companies with the ‘Simples Nacional’ – special tax system for small businesses – began to be notified in order to rectify their situation. After the notification is given, taxpayers have up to 30 days to contest the notification or settle the debts, under penalty of being excluded from the ... Read More »

Former top Japan currency envoy Masatsugu Asakawa to lead Asian Development Bank

Former Japanese Vice Finance Minister for International Affairs Masatsugu Asakawa has been selected as the new president of the Asian Development Bank, the organization said Monday. On Jan. 17, the former top currency diplomat will succeed Takehiko Nakao, who has led the ADB since April 2013. Asakawa’s tenure will run through November 2021. The appointment of Asakawa, the sole candidate, ... Read More »

Korea’s Trade Dependence on China Soars in Seven Years

The Korea International Trade Association announced that North Korea’s trade with China accounted for 91.8 percent of the total trade value of North Korea last year, increasing more than five-fold in seven years. Back in 2001, Japan, China and South Korea accounted for 30.1 percent, 17.3 percent and 8.8 percent of North Korea’s total trade value, respectively. Last year, however, ... Read More »

BSF seized contraband drugs worth over Rs 13 crore in Guwahati region in past one year

The Border Security Force (BSF) has seized a huge quantity of contraband drugs worth over Rs 13 crore in the areas of BSF’s Guwahati frontier region in past one year. The BSF personnel also apprehended 27 Bangladeshi smugglers – most were involved in cattle smuggling during this period. Inspector General of BSF Guwahati Frontier Piyush Mordia on Saturday said, “It ... Read More »

Thai court fines Philip Morris $39.7M for under-declaring imports from Philippines

BANGKOK: A court in Thailand found the local unit of tobacco giant Philip Morris guilty of evading taxes by under-declaring the value of cigarettes it imported from the Philippines. It ordered the company to pay a fine of 1.2 billion baht ($39.7 million). The Criminal Court found Philip Morris Thailand as a company guilty, but acquitted seven employees for lack ... Read More »

Nov inflation rate quickens to 0.21%, but below forecast

Thailand’s headline consumer price index (CPI) rose 0.21% in November from a year earlier, quickening from the previous month but lower than expectations, commerce ministry data showed on Monday. A Reuters poll had forecast that the CPI would rise 0.34% in November year-on-year after October’s 0.11% increase, which was the lowest in more than two years. November’s headline inflation remained ... Read More »

Business confidence ticks up from 20-year low

As business confidence languished near its weakest levels in two decades, the SA Reserve Bank insisted that cutting interest rates is not a remedy for the country’s economies woes that are threatening the loss of its remaining investment grade. While the central bank could act and provide some stimulus if there was a slack in growth, the extent to which ... Read More »

Another 4 Arrests In Investigation Into Brabant Crime Family

On Monday the police made four more arrests in the investigation into the organized crime family in Noord-Brabant allegedly run by Martien R. That means that a total of seven suspects are now in custody, including Martien R. himself. Investigators have been keeping an eye on the four men arrested on Monday for some time, the police said in a ... Read More »

Global debt reaches new record high of 250,000 billion dollars

The global debt reached a new record high of 250,000 billion dollars in the first semester of 2019, according to the American International Finance Institute (IIF). This new record represents 240% of the global GDP. China and the United States are responsible for 60% of this new increase in the global debt. The IIF warned that the global debt is ... Read More »

“Resilient” Germany heading for Q4 growth as business morale rises

German business morale rose in November and Europe’s largest economy is on track to grow by 0.2% in the fourth quarter as its domestic strength more than offsets a manufacturing recession, the Ifo economic institute said. Munich-based Ifo said its business climate index rose to 95.0 in November from 94.7 in October. The November reading was in line with a ... Read More »

Someone from the Philippines could win a $208 million jackpot this week!

The American Mega Millions lottery offers the biggest jackpot prize in the world: $208 million USD. That huge amount, which is up for grabs in Friday night’s draw, has captured the attention of lottery fans all over the world and amazingly, the winner of this enormous prize could be someone from the Philippines. You may remember that Mega Millions awarded ... Read More »

Giuliani Pursued Business in Ukraine While Pushing for Inquiries for Trump

As Rudolph W. Giuliani waged a public campaign this year to unearth damaging information in Ukraine about President Trump’s political rivals, he privately pursued hundreds of thousands of dollars in business from Ukrainian government officials, documents reviewed by The New York Times show. Mr. Giuliani, the president’s personal lawyer, has repeatedly said he has no business in Ukraine, and none ... Read More »

Development Bank Of Japan And Business Finland Sign Mou To Boost Joint Innovation

Development Bank of Japan (DBJ) and Business Finland have signed a Memorandum of Understanding (MoU) to promote cooperation between companies and investment between Japan and Finland. The MoU was signed by DBJ President and Chief Executive Officer Kikuchi Shin and Business Finland’s Director General and CEO Nina Kopola in Tokyo. “DBJ is a government-owned bank that plays a significant role ... Read More »

Herbs and hotels: The small businesses helping revive rural Portugal

After Bruno Vargas and his wife had their first baby, they wanted a quieter life. So, they left their home in Angola and returned to his native region in Portugal’s rural interior to set up an organic herbs company. The remote Santarem district of central Portugal is known for its agricultural plains and salt flats. The Vargas’ nearest town, Rio ... Read More »

Poland’s unemployment rate falls to 5.0pc in October

WARSAW: Poland’s registered unemployment rate fell to 5.0pc in October from 5.1pc in September, statistics office data showed on Wednesday, slightly below analysts’ expectations of 5.1pc. The statistics office also said that the number of registered unemployed was 840,500 last month. Separately, the statistics office said the unemployment rate as measured by the Labour Force Survey (BAEL) fell to 3.1pc ... Read More »

Brussels asks Spain not to spend €22 billion it could save from low interest rates

Thanks to the policies of the European Central Bank (ECB), Spain could save up to €22.3 billion over the next four years if interest rates remain stable. Such savings would create a significant buffer for the next government, which will have to deal with persistently high debt levels. Madrid will also have to send Brussels a new budget plan with ... Read More »

ODB signs membership agreement with OCFIC

Muscat: Oman Development Bank (ODB), the Sultanate’s leading development finance institution, became a member of the Oman Credit and Financial Information Centre (OCFIC). Through wish, ODB will share credit and financial data of its customers with The Centre National Databank, a visionary 3 years strategy aimed at improving access to credit to SMEs and introduce digital channels and for offering ... Read More »