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FBR decides to send notices to over 170,000 tax defaulters

KARACHI: The Federal Board of Revenue (FBR) and its field formations have decided to send notices to 178,000 tax defaulters till the end of the current fiscal year 2015. According to the sources, Regional Tax Office III (RTO-III) Directorate, Broadening of Tax Base (BTB), will also send notices to almost 1,000 tax defaulters, while remaining 60,000 notices will be issued by the field ... Read More »

Mobilink receives WWF ‘Award of Innovation’ for sustainable, green initiatives

ISLAMABAD: WWF Pakistan, in a latest honor recognizing the telco’s ongoing endeavors to protect the environment, conferred the ‘Award of Innovation’ to Mobilink at the third annual ‘WWF Green Office Network’ meeting. The award is in honor of Mobilink’s ongoing green sustainability initiatives, which target the telco’s industrial and corporate activities in a bid to cut down on consumption of ... Read More »

Customs Court hears 16 cases on Tuesday

LAHORE: In the Special Court of Customs Taxation and Anti-Smuggling, different cases were scheduled for hearing on Tuesday. The Special Court of Customs Taxation and Anti-Smuggling heard 16 important cases including pre-arrest bail pleas of accused persons as well. The court adjourned bail pleas of Usman and Tahir Niaz until next hearing of the cases. The Customs Court also accepted ... Read More »

LSE to observe Eidul Azha holidays from September 24 to 26

LAHORE: Lahore Stock Exchange (LSE)  issued a notification regarding Eidul Azha  holiday sin which it informed all traders that LSE shall remain closed from Thursday, September 24, 2015 to Friday, September 25, 2015 on account of auspicious occasion of Eidul Azha holidays. The notification  further says that LSE shall observe its market/office timings as per normal schedule from Monday, September ... Read More »

ASO Sargodha seizes Toyota Crown car‏

FAISALABAD: The Field Unit of Anti Smuggling Organization (ASO) Sargodha impounded foreign origin Toyota Crown car model 1985. The market value of seized vehicle is Rs 15,00,000. Sources told Customs Today that Assistant Collector Muhammad Asim Awan received credible information regarding above said smuggled vehicle plying on the road. After receiving the information he immediately formed a raiding team comprising ... Read More »

LSE decoded to delist Medi Glass Ltd

LAHORE: Medi  Glass Limited was listed at the Lahore Stock Exchange in the year 1990 and its total paid up capital is Rs 75.938 million. The company is under violation of Listing Regulations No. 30(1)(b)(d)(e)(g) of the Exchange i.e. non-holding of AGM, has gone into liquidation through Court Order, non-payment of annual listing fee and non induction of ordinary shares ... Read More »

WECREATE holds graduation celebrations

ISLAMABAD: The Women’s Entrepreneurial Center of Resources, Education, Access, and Training for Economic Empowerment (WECREATE) Center held its ‘Graduation Celebration of Start Up Academy Flight I’ to mark the completion of a 15-week program that takes aspiring female entrepreneurs from idea to business implementation. The graduates pitched their new businesses to community leaders, potential investors, and the press during the ... Read More »

Karachi’s improved security situation boosts property market

LAHORE: The successful Karachi operation positively impacted Pakistan’s real estate sector. New developments are expected to increase two to threefold in the future, according to a recent survey conducted by Pakistan’s best real estate website, Lamudi.pk According to real estate agents and builders, the Karachi operation created a very positive environment. The law and order agencies are eliminating the qabza ... Read More »

China’s Dynagas to build $1.6b Arctic LNG ships

BEIJING: China Merchants Energy Shipping, Sinotrans Shipping and Greek shipping firm Dynagas are in talks to form a joint venture to build five vessels to ship liquefied natural gas (LNG) from the Arctic, the firms said. China Merchants said in a stock exchange statement that its board had approved a proposal allowing subsidiary China LNG Shipping to take a 25.5 ... Read More »

Saudi Arabia oil exports decline 3rd time in last 4 months

RIYADH: Saudi Arabia’s crude stockpiles rose to a record in July after exports by the world’s biggest oil shipper declined for the third time in four months. Commercial petroleum stockpiles increased to 320 million barrels, the highest since at least 2002, from 319.5 million barrels in June, according to data Sunday on the website of the Riyadh-based Joint Organisations Data ... Read More »

Chinese Customs seizes 89,900 anion generators

BEIJING: Recently, Jiuzhou Customs House (affiliated to Gongbei Customs District) seized 89,900 anion generators, suspected of infringing “RU figure” trademark right. These infringing goods are worth USD 8,990. On July 15, a company from Zhuhai declared to Jiuzhou Customs House for export of 89,900 anion generators. The Customs officers inspected the goods and found them with the “RU figure” mark, ... Read More »

China Customs releases 6m consignments worth $28.78m

YIWU: According to statistics of Yiwu Customs House(affiliated to Hangzhou Customs District), by August 6, YiwuCross-Border E-Commerce Control Center has released more than 6 million consignments, involving 6,003,000 outbound parcels worth USD28.78 million (equivalent to RMB178 million). Since December 26, 2014, 457 firms engaging in e-commerce has registered with Yiwu Cross-Border E-Commerce Control Center. Their parcels are outbound for 145 ... Read More »

Shanghai Airport Customs starts pilot service for direct mails from abroad

SHANGHAI: Shanghai Hongqiao Airport Customs House(affiliated to Shanghai Customs District) has begun a pilot service for direct mails from abroad over cross-border e-commerce, with the first import consignment successfully released on August 12. That consignment was 83.3 kilograms of cosmetics and food airlifted from Taiwan, worth CNY 9,561. The Customs House smoothly received the declaration data and finished the clearance ... Read More »

Chinese Customs supports coal transit Base

GUANDONG: In recent years, power generation enterprises in eastern Guangdong Province have a greater demand for imported coal. To support their production and ensure local power supply, Chaoyang Customs House( affiliated to Shantou Customs District) has rolled out several measures such as “5+2”workdays, processing upon request, and inspection/release alongside cargo ship. Since 2014, Chaoyang Customs House has been in active ... Read More »

China nickle imports drop by 60% in Aug

BEIJING: China’s imports of refined nickel dropped to the lowest level in four months in August, underscoring flagging demand as the stainless-steel industry slowed. Inbound shipments contracted 60 percent to 18,774 metric tons from July, when imports were the second-highest on record, according to China’s customs administration data on Monday. Lower imports of refined metal may exacerbate losses in prices, ... Read More »

China’s e-commerce market surges by 30% to $1.2tn in H1

SHANGHAI: China’s e-commerce market saw strong growth in the first half of this year despite economic headwinds, according to a report released Monday. E-commerce in the world’s second-largest economy reached 7.63 trillion yuan ($1.2 trillion) in the January-June period, up 30.4 percent from a year earlier, the China E-Commerce Research Center said in a report. Business-to-business (B2B) was up 28.8 ... Read More »

Iran plans to buy Airbus, Boeing planes

TEHRAN: Iran plans to buy Airbus and Boeing passenger planes through long-term payment agreements once a nuclear accord with world powers is implemented, the transport minister said. Iran desperately wants to upgrade its aging fleet, which has been hamstrung by nuclear-related and other sanctions, making even spare parts precariously difficult to source. To purchase new planes, “our negotiations have been ... Read More »

China’s economy expects to grow 6.9% in 2015

BEIJING: China’s economy is expected to grow 6.9 percent this year, largely in line with the official target of around 7 percent, an annual report by the Chinese Academy of Social Sciences said yesterday. The think tank cited an inefficient relocation of capital and the holding back of fiscal spending as factors behind the slowdown from last year’s pace of ... Read More »

JD.com inks agreement with Guizhou to develop e-commerce in rural areas

BEIJING: JD.com signed a strategic partnership agreement with the Commerce Department of Guizhou province here the other day to develop e-commerce in rural areas. “According to the agreement, we will increase the allocation of resources to support rural ecommerce, including the construction of logistics network and training in e-commerce and finance,” said Li Heming, in charge of JD.com’s rural businesses. ... Read More »

Didi Kuaidi inks deal with Lenovo

BEIJING: Didi Kuaidi, China’s largest car-booking mobile app company, signed a corporate deal with Lenovo Group Ltd on Monday. The agreement with the world’s largest personal computer manufacturer marks a new push into the corporate sector as most of its clients are individual customers. There is also a family connection to the deal. Didi Kuaidi president Liu Qing is the ... Read More »

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