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Dubai Customs said its in-house framework, Enterprise Architecture, has won the President’s Award – Service Delivery and Automation at the Open Group Innovation and Excellence conference, held in the south Indian city of Kochi last month. The event was organised by Open Group, a global consortium headquartered in the US, that enables the achievement of business objectives through technology standards. ... Read More »

Customs issues notice to Maersk for cancellation of license; goods loaded may not reach Pakistan

KARACHI: Model Customs Collectorate of Preventive, Karachi has issued a notice to M/s Maersk Pakistan (Pvt) Ltd as it started the process to cancel license of the company for sheer violation of the Customs Act 1969 and SRO 1220(I)/2015. Maersk Line and its subsidiary M/s Maersk Pakistan (Pvt) Ltd kept on harassing and blackmailing importers to get additional demurrage and ... Read More »

FBR obtains details of Pakistanis having properties in Dubai

ISLAMABAD: The Federal Board of Revenue has claimed to obtain details of Pakistani nationals who have undeclared properties in Dubai. According to a senior FBR official, the data includes quantum of rental income earned from these properties. The data was received from Dubai tax authorities, the tax official said. Meanwhile, the FBR is also intensifying its awareness campaign around the ... Read More »

NAB inquiries have no ulterior motive: Javed Iqbal

QUETTA: National Accountability Bureau (NAB) Chairman Justice Javed Iqbal has said that the state of corruption in Pakistan is such that people who couldn’t afford a house of 6-Marla, now have towers in Dubai. In a conference held in Quetta, Justice Javed Iqbal said that all people engaged in any sort of corruption will be held accountable. He further said ... Read More »

Money taken abroad through corruption, legal means: DG FIA tells SC

ISLAMABAD: Director General (DG) Federal Investigation Agency (FIA) Bashir Memon informed the Supreme Court that 4,221 Pakistanis have foreign bank accounts and assets in the United Arab Emirates (UAE). The revelation came as Chief Justice of Pakistan (CJP) Mian Saqib Nisar, while heading a two-judge bench, remarked, “FIA should inform us how many Pakistanis have assets and accounts in the ... Read More »

Dubai, Hangzhou seek to expand trade ties

DUBAI: An economic delegation from Hangzhou, China met on Monday with senior executives of public and private institutions of Dubai to boost ties covering trade, logistics, e-commerce and finance between the two port cities. In a speech delivered at the 2016 Hangzhou-Dubai City Promotion Conference Agenda, Guo Ping, the chief of Foreign Trade Department of Hangzhou Municipal Commission of Commerce, ... Read More »

Dubai, Abu Dhabi tax-free zones in regulatory pact

DUBAI: The regulators of the Dubai International Financial Center and the Abu Dhabi Global Market have agreed to support each other on enforcing international financial market regulations. Ian Johnston, the Chief Executive of the DIFC’s regulator, the Dubai Financial Services Authority, said: “As regulators of financial centers founded on Common Law principles, we embrace best practice and apply regulation which ... Read More »

Dubai, Abu Dhabi hotels see revenues fall in Jan

ABU DHABI: Hotels in both Abu Dhabi and Dubai saw a drop in revenues per available room (RevPAR) in January, as the strong US dollar discouraged tourists from some parts of the world from travelling. According to accountancy firm EY’s Middle East hotel benchmark survey, Dubai hotels posted a 9.3 percent drop in RevPAR compared to the same month a ... Read More »

Turkey to open trade centers in Tehran, Dubai

ANKARA: In addition to its praised economic growth in Turkey, the contracting sector has recently broken a new record. As of the end of 2015, nearly 9,000 projects worth more than $322.6 billion have been initiated in 107 countries. Economy Minister Mustafa Elitaş said the projects initiated in the past 12 years are worth nearly $276 billion. Highlighting that the ... Read More »

Dubai, Japan firms sign MoU to discover business in India

DUBAI: An Indian-owned business house here has signed an MoU with a Japanese company to form a joint venture for exploring business opportunities in the logistics sector within the Indian subcontinent apart from Middle East and Japan. Transworld Group and Yokohama-based Suzue Corporation have signed a Memorandum of Understanding for the formation of a joint venture company which will capitalise ... Read More »

Contract killer introduces himself to Customs at Dubai Airport

DUBAI: During a bag search by Dubai Customs, a passenger arriving at Dubai Airport and said “I am a contract killer”, speaking to Emirates 24|7 Senior Inspection Hassan Ibrahim at Dubai Airport, detailed the encounter he was involved in. Hassan explained the way we deal with the passengers, the kindness from our side and our calm behavior towards them, helps ... Read More »

Dubai Customs celebrates International Customs Day today

DUBAI:  Marking the International Customs Day, Dubai Customs is hosting today (Jan. 26, 2015) a number of activities at the Customs main office. Activities include a panel session, headed by H.E. Ahmed Mahboob Musabih, Director of Dubai Customs, alongside all DC’s executive directors. Customs processes and future development plans are the focus of discussion at the session. In addition, a ... Read More »

Dubai, Abu Dhabi property markets expected to get stable in 2015

DUBAI: The property markets in Dubai and Abu Dhabi are expected to be stable this year by construction activities in real-estate developments and infrastructure projects, reported The recovery in real-estate prices, a bounce in bank financing for construction and the return of off-plan sales, in particular, has motivated developers to resume the projects that were on hold in both ... Read More »

Dubai Customs uses 380,000 advanced scanning screens for inspecting containers last year

DUBAI: Dubai custom used 380,000 Advanced X-ray scanning system screens for inspecting shipping containers and made more than 500 seizures in 2014 at Jebel Ali customs centers. The containers were then referred for a physical inspection based on risk assessment data retrieved from a Risk Engine system. Officials did not mention what items were seized in a media statement on ... Read More »

Tajik woman heroin trafficker jailed for 10 years in Dubai

DUBAI: A tourist who is said to be a Tajik woman handed hefty fine of DH 50, 000 besides jail term for having drugs for promotional purpose. She was carrying heroine and methadone from Iran and was taking them to UAE for promotional purposes. The 33-year-old Tajik woman, M.N., smuggled around 1kg of heroin and 59 methadone pills in her ... Read More »

Dubai International Capital launches sale of German aluminum product maker Almatis

FRANKFURT: Dubai International Capital (DIC) is launching the sale of German alumina products maker Almatis as the fund seeks to reduce its liabilities in the wake of a debt restructuring. Almatis is around 80 percent owned by DIC with a stake also held by Blackstone unit GSO Capital Partners. DIC has mandated Barclays to explore the options of the possible ... Read More »

Iran: No agreement with US on nuclear topic to ship enriched uranium to Russia

DUBAI: Iran denied that it had reached an agreement with the United States to ship its surplus enriched uranium to Russia under new concessions aimed at clinching a comprehensive nuclear deal with six world powers. Tehran and Washington had tentatively agreed on a formula to ship to Russia much of the material that could potentially lead to manufacture of atomic arms by the Islamic ... Read More »

Gold smuggler ordered to pay £4.3m in tax, or face extra decade in jail

FRANKFURT: A ’24 carat’ gold smuggler from Dubai who brought £100 million worth of gold into Britain, named Chaudhry Ali was jailed for nine years in 2012 in big VAT fraud is ordered to repay £4.3million in tax, or he would be implemented to face extra imprisonment in jail. Chaudry Ali, 52, was jailed for nine years in 2012 for ... Read More »

Imprisonment of 3 ex-policemen reduces in Dh1.2 million gold theft case

ABU DHABI: The jail terms of three former policemen who stole gold worth Dh1.2 million was reduced by the Dubai Appeal Court, cutting short by three years each. The trio, who were stationed at the airport, took the seven gold bars weighing 25kg shortly after the cleaner found them while cleaning beside an escalator at the airport in August 2013. ... Read More »

Dubai, Oman aim to boost trade through Hatta border

MUSCAT: Dubai and Sultanate of Oman aim to boost trade through Hatta border and also looking to set up an Omani Business Council in the emirate as bilateral trade between the two reached Dh16 billion in the first nine months of this year, officials said. The value of the trade between Dubai and Oman in 2013 reached Dh19 billion, i.e. ... Read More »