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India allows imports of 5,00,000 tons of duty-free corn

NEW DELHI: India has asked a government-backed trader to import an extra half a million tonnes of duty-free, non-genetically modified corn to keep a lid on domestic prices and overcome any shortage, the trade ministry said on Sunday. India, which allows cultivation and consumption of only genetically modified cotton crop, has had difficulty in sourcing non-GM corn in late 2015 ... Read More »

Hyderabad ASO seizes smuggled fireworks items worth Rs 3,00,000

HYDERABAD: Hyderabad Anti Smuggling Organization (ASO) has seized smuggled fireworks of different kinds worth Rs 3,00,000 during an operation in Hyderabad. ASO Hyderabad foils a bid to smuggle 1005 kilograms of fireworks, which was on the way to Lahore from Quetta. Sources told Customs Today that ASO Hyderabad has conducted raid on the directions of collector Customs Hyderabad Dr. Ahmed ... Read More »

Ford successfully sells over 2, 00,000 Ecosport units in India

NEW DELHI: The Ecosport compact SUV has been frontrunner for American automaker Ford in India. The carmaker has reportedly successfully sold over 2, 00,000 Ecosport units in the country. To mark this special occasion, the carmaker has initiated the Ecosport 2, 00,000 Fest that began on 21st August till 23rd August, 2015. Speaking more on the occasion, Rahul Gautam, the ... Read More »

Gold worth Rs.35, 00,000 Seized from woman passenger in India

CHENNAI:  Gold worth approximately Rs. 35 lakh was seized from a woman passenger who arrived at Chennai airport from Singapore on Monday, airport officials said. “Gold weighing 1.3 kilograms was found in the woman’s luggage,” a senior official told Press Trust of India. “The woman is a resident of Tamil Nadu’s Tiruchirappalli, and has been detained for questioning,” the official ... Read More »

Finnish shipyard ready to build 212 meter LNG power fast fairy

HELSINKI: ABB power and automation technology group said that “the large-scale ferry will be built at Meyer Turku shipyard in Finland for delivery in the beginning of 2017. The vessel will be about 212 meters in length with a gross tonnage of 49,000. The ferry, planned to carry 2,800 passengers, will operate between Tallinn, the capital of Estonia, and Helsinki, ... Read More »

Punjab Excise Dept collects Rs 4.398 billion motor vehicle tax in first six months

LAHORE: The Punjab Excise and Taxation Department has collected rs 4398.78 million of motor vehicle tax in first six months of the fiscal year 2014-15. The Punjab Excise is facing shortfall in collection of motor vehicle taxes during the first six months of the fiscal due to heavy taxes on registration and transfers of the vehicles. During the first six ... Read More »

Mervis offers diamond-encrusted Apple Watch in $30,000 for pre-order

LONDON: Mervis is offering up a $30,150 (about £19,250, AU$36,730) diamond-encrusted version of the Apple Watch for pre order with an expected delivery date in the middle of 2015. Sure, the Apple Watch isn’t even out yet, but don’t let that hold users back from putting down some cash on a sparkling smart watch that will make their friends’ cheap-o ... Read More »

Filing of less number of tax returns worries FBR

ISLAMABAD: Despite repeated extension in deadline for filing of tax returns, the FBR collected only 500,000 returns until December 3, 2014 against 850,000 in 2013. The filing of less number of returns has perturbed the FBR and Chairman Tariq Bajwa has written letters to parliament, government departments and ministries and asked all cadre employees and parliamentarians to submit their returns. ... Read More »

Excise Dept captures documents of 20,000 defaulter vehicles

LAHORE:  The Excise and Taxation Department has seized documents of 20,000 defaulter vehicles and impounded hundreds in the Punjab. These documents were confiscated during last four months of July, August, September and October. Owners of the defaulter vehicles are not been paying their token tax and tax not on transfer of vehicles. The Excise Dept received almost Rs 40 millions ... Read More »

Intel Corp awards $500,000 to wristband developer

SAN FRANCISCO: Intel Corp awarded $500,000 to a group of do-it-yourselves who developed a wristband that turns into a camera-equipped drone. They won a contest that the chipmaker hopes will help guarantee it a leading position in the emerging market for wearable computing devices. Like a boomerang, it returns to its owner and then syncs with the owner’s smart phone. ... Read More »