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China produces 260m fruit, 700m tons vegs last year

BEIJING: China produced more than 260 million tons of fruit and more than 700 million tons of vegetables in 2014. Despite these impressive figures and the fact that China is a significant fruit and vegetable producer, it has yet to realize its potential as a fruit and vegetable trading power. According to a report from the Ministry of Commerce of ... Read More »

China continue to impose duties on US chicken imports

BEIJING: China’s Ministry of Commerce (MOC) announced it will continue to impose anti-subsidy duties on US white-feathered broiler chickens while a new investigation is under way. China began to levy anti-subsidy duties on chicken imported from the United States in September 2010, claiming that the products were subsidized and unloaded onto the Chinese market at a price less than the ... Read More »

IMF projects Saudi to run fiscal deficit 20% of GDP in 2015

RIYADH: Saudi Arabia’s government is considering making significant cuts to its 2016 budget because of the continued drop in oil price. Two sources told Bloomberg that the country is seeking advice on reviewing its budget for next year, which could lead to delays or reduce some of the country’s infrastructure projects. The report suggests that the government could cut its ... Read More »

Azerbaijan customs terms allegations about Russian blogger baseless

BAKU: The State Customs Committee of Azerbaijan has commented on reports of a Russian blogger having been prevented from entering the country, the committee’s press service told APA. “On August 25, headlines surfaced on a number of websites and social network that “Famous Russian blogger kept out of Azerbaijan”.The State Customs Committee officially states that a BMW with license plate ... Read More »

Chinese Customs confiscates excessive cosmetics

BEIJING: Gaoqi Airport Customs House (affiliated to Xiamen Customs District) seized excessive cosmetics carried by an inward passenger. The number of the seizure reached 3784 pieces, including 2574 lipsticks, 693 eyeliners, 343 eyebrow pencils and 174 boxes of eye shadows, which has set a new seizure record for excessive cosmetics carried by one single-entry passenger in the history of Gaoqi ... Read More »

Dongxing Customs seizes 6,369 memory cards

BEIJING: While exercising control over the luggage of an incoming Chinese passenger at non-declaration channel, officers of Dongxing Customs House (affiliated to Nanning Customs District) seized 6369 memory cards that were suspected of infringing upon the trademark right of SD-3C Co., Ltd. registered with the General Administration of Customs. Read More »

Chinese Customs destroys 20 seized crocodile skins

BEIJING: In cooperation with Yantai Entry-Exit Inspection and Quarantine Bureau, Yantai Customs House (affiliated to Qingdao Customs District) conducted a collective destruction of seized endangered animal products – untanned raw crocodile skins that were illegally imported, totaling 20 sheets, weighing about 20 kilograms, and worth more than CNY600,000. When officers of Yantai Customs House conducted a routine inspection over the ... Read More »

PetroChina net profit shrinks 63% in H1

BEIJING: PetroChina Co, the country’s biggest oil and gas producer by volume, said yesterday that its net profit plunged 63 percent in the first half of the year as falling oil prices squeezed earnings. Net income dived to 25.4 billion yuan (US$4 billion) in the half year ended on June 30 from 68.1 billion yuan a year earlier, the state-owned ... Read More »

Customs Intelligence holds 1,200 cartons of smuggled juice

KARACHI: The Directorate of Customs Investigation and Intelligence, Karachi, has recovered 1,200 cartons of smuggled Iranian juice from a godown worth thousands of rupees. As per details, Director Customs Intelligence Asif Marghoob received information regarding the storage of smuggled items in the area of Maripur, Karachi and formed a team consisting of assistant director, superintendents, deputy superintendents and others to conduct ... Read More »

Hyderabad ASO confiscates cigarettes, vehicle worth Rs 3.1m

HYDERABAD: The Customs Anti-Smuggling Organization (ASO) Hyderabad has seized 30 cartons of cigarettes with Suzuki pickup approximately valued at Rs 3.1 million involving duty/taxes to the tune of Rs 2 million. As per details, the ASO teams, following the instruction of Collector Model Customs Collector Hyderabad, Dr Ahmed Mujtaba Memon, conducted various raids in the region to curb smuggling. An ... Read More »

Customs court grants physical remand of currency smuggling suspect

KARACHI: The Special Court of Customs Taxation and Anti-Smuggling on Friday remanded a suspect to the custody of customs investigation officer for interrogation in a currency smuggling case. According to the customs officials, on August 27 the customs staff thwarted an attempt of smuggling of 157, 500 Saudi riyals and 2450 Omani riyals from Karachi Airport to Dubai. On suspicion, ... Read More »

RTO-II recovers Rs 1.8m by attaching company’s bank accounts

LAHORE: The Federal Board of Revenue (FBR), Regional Tax Office-II (RTO-II), Lahore has recovered Rs 1.8 million by attaching the bank accounts of a company involved in short payment of taxes to the tune of Rs 15.8 million. As per details, RTO-II team comprising Deputy Commissioner Inland Revenue Naveed Akhtar, Inspector Aftab Basra and Mehmoodul Hassan took action against a ... Read More »

Customs Preventive impounds Toyota Land Cruiser worth Rs 3m

ISLAMABAD: The Model Customs Collectorate Preventive Islamabad has impounded Toyota Land Cruiser worth Rs 3.2 million during a road checking. According to the details, Customs Preventive staff intercepted a vehicle bearing Registration No. RPT-586 during road checking. The staff asked the driver of the vehicle to produce the documents showing the legal import of the vehicle and lawful possession of ... Read More »

Multan Customs Intelligence impounds vehicle due to forged chassis number

MULTAN: Customs Investigation and Intelligence Multan has impounded a smuggled vehicle, Mazda Mini Pickup during road checking. According to the details, Customs Intelligence intercepted Mazda Pickup bearing Registration No. LES-6401 durign routine vigilance and asked the driver namely Samuel Masih to produce the documents showing the legal import of the vehicle but he could not produce any such documents. Later, ... Read More »

China’s industrial profit falls 2.9% in July

BEIJING: Profits of China’s major industrial firms fell 2.9 percent year on year in July, sharply down from 0.3 percent decline posted in June, the National Bureau of Statistics (NBS) said on Friday. Profits at industrial companies with annual revenues of more than 20 million yuan ($3.1 million) totaled 471.6 billion yuan in July. Industrial profits of these firms dropped ... Read More »

SHC reject petitions challenging levy of regulatory duty on imports of iron, steel from China

KARACHI: The Sindh High Court (LHC) on Friday dismissed over 150 petitions, challenging the imposition of regulatory duty on imports of iron and steel from China. Justice Sajjad Ali Shah, who headed a division bench, announced the verdict, directing the petitioners to pay the regulatory duty. M/s Wasif Steel Industries, M/s Owais Oman Enterprises, M/s Sonia International, M/s Crystal Steel ... Read More »

Hyderabad ANF seizes 4kg charas, arrests two peddlers

HYDERABAD: The Anti-Narcotics Force (ANF) has seized four kilogram charas and few quantity of heroine in two different operations in Hyderabad, besides arresting two drug peddlers. Following the instruction of ANF Hyderabad in-charge Ghulam Abbas Memon, the anti-narcotics team raided different area of Hyderabad city, including Fateh Chowk and Hala Naka road, Hyderabad. The ANF team on credible information conducted ... Read More »

Customs court orders release of three smugglers after fining each Rs 100,000

KARACHI: The Special Court of Customs Taxation and Anti-Smuggling has imposed a penalty of Rs 100, 000 each on three suspected smugglers after they pleaded guilty to smuggling of huge quantity of liquor into the country and ordered their release. According to the details of the case, in February this year, the Pakistan Customs had caught a launch loaded with ... Read More »

FBR Member Administration Shahid Jatoi reaches Karachi

ISLAMABAD:  Federal Board of Revenue (FBR) Member Administration Shahid Hussain Jatoi has reached Karachi to review administrative measures taken by the department. He will return to Islamabad on Monday. Sources told Customs Today that there are bright chances that he may pay some surprise visits to different departments to check their performance. It is important to mention here that Shahid Hussain Jatoi ... Read More »

ICBC profits hikes by 0.7% to $23.26bn in H1

BEIJING: tate-owned Industrial and Commercial Bank of China (ICBC), the country’s largest bank, on Thursday reported a 0.7 percent year-on-year increase in net profits in the first half of 2015. Net profits stood at around 149.4 billion yuan ($23.26 billion) in the first six months, the lender said Thursday. Its non-performing loan ratio edged up to 1.4 percent at the ... Read More »