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Dubai expecting more tourists on Eid


DUBAI: Foreign trade of Dubai during Eid festival has risen up to around AED28.2 billion in 2014, with a 12 percent increment as compared to same period in 2013. The flourishing tourism season helps increasing the demand for Eid products. Dubai is expecting more tourists on this Eid as the emirate’s tourist attraction sites and luxurious malls are offering unrivalled, ... Read More »

CDNS raises Rs60b in 1st quarter


ISLAMABAD: During the first quarter of current fiscal year, the Central Directorate of National Savings (CDNS) has raised Rs60 billion against Rs44 billion during the same period of previous year. The CDNS has raised Rs36 billion in July and August against Rs31 billion in same months of 2013, representing a heave of 20 percent, said CDNS spokesperson and Ghafoor Baloch. ... Read More »

Samsung to build mobile chips for Apple


South Korean company Samsung has won Apple’s contract of making 14-nanometer application processors. The Samsung has been producing mobile chips for Apple since launch of the first iPhone in 2007, but it has lost its position somehow in recent years. Before the launch of iPhone 6, Samsung made all of Apple’s ARM processors at Austin base. But as the technology gets ... Read More »

Al Baraka earns Rs2b via sukuk


ABU DHABI: Al Baraka bank has collected capital of Rs2 billion ($19.5 million) by issuing of subordinated sukuk (Islamic bonds). An official of the Al Baraka bank’s Pakistani branch has said that with Basel III global banking standards, several Islamic banks have issued subordinated instruments to increase capital, including in Turkey, Malaysia, Saudi Arabia and the United Arab Emirates. Head of ... Read More »

Reserves fall to $13.210b


Karachi: The State Bank of Pakistan has reported that Pakistan’s liquid foreign exchange reserves have fallen to $13.210 billion during the last week of September as compared to $13.305 billion the previous week. The SBP reserves have fallen to $8.610 billion from $8.628 billion, a decrease of $18 million. During the week, the SBP made payments of $144m on account ... Read More »

OGDCL launches Rs80,796m shares


KARACHI: The Oil and Gas Development Company Ltd (OGDCL) has announced the launching of its secondary offering of ordinary shares and Global Depositary Shares (GDSs). The shares are listed in the Karachi Stock Exchange, Lahore Stock Exchange and the Islamabad Stock Exchange under the symbol ‘OGDC’. Moreover, a statement said the offer would show up to 10 percent of Pakistan’s ... Read More »

Automotive Manufacturers ask govt to deal with Sri Lanka carefully


KARACHI: Pakistan Automotive Manufacturers Association urged the government to make trade agreements cautiously with Sri Lanka as it gives market access to neighbouring country India that will dump its subsidised products in Pakistan. Ministry DG Waheed Khan gave this point that Lankan FTA, in January 2008; negotiators admitted that Sri Lanka does not have capability of exporting different auto parts. ... Read More »

Cameron vows tax cut for millions in election campagin


LONDON: In his election campaign, British Prime Minister David Cameron has promised that if Conservatives Party wins the next election, then a million middle-class Britons will get 40 percent tax cut. In his speech, Cameron said that a person, who is earning more than £50,000 a year, will enjoy a tax cut worth more than £1,300 by 2020. After this announcement, ... Read More »

Pakistanis allowed to get e-visas to Bahrain

bahrain final

Good news for Pakistanis as now they can enjoy holidays in Bahrain because it has been made easier for them to get online visa for the Gulf State from Oct 1. Pakistan has been included in the list of 36 countries that are allowed to obtain electronic visa. Moreover, E-visas can be obtained through a simple online application process, making ... Read More »

Indian Customs finds 1kg gold inside man’s belly

Gold stones

CHENNAI: One kilogram gold stones have been recovered from 35-year-old man’s belly by the Indian Customs. According to sources, Hawai Du, the accused, arrived in the city on a visit visa. The Customs officials stopped him for checking, but he started arguing about being unwell and having stomach pain. The officials took him to a hospital immediately and after scan ... Read More »

Inflation rises by 7.68pc in September


The Pakistan Bureau of Statistics (PBS) has revealed that Consumer Price Index (CPI) inflation rose by 7.68 percent during September 2014. National Accounts member Arif Mehmood Cheema in a press conference said the CPI inflation rose by 7.52 percent in July-September 2014-15 while it increased by 0.35 percent in September 2014 as compared to August 2014. Moreover, the BPS indicated ... Read More »

SBP gives plan to extend credit to farmers


KARACHI: For the extension of credit to poor and marginalised farmers, the State Bank of Pakistan (SBP) has given guidelines on the ‘Value Chain Contract Farmer Financing’ for banks. As per details, the banks are told, by the SBP, to establish a mutual relationship among banks, farmers and value chain agent. Under the ‘scheme’, the farmers would be facilitated to ... Read More »

Banking business to rise by 21.9pc in 3 years


KARACHI: Pakistani banks will get more advantages in three years on account of reviving business dealings and economic recovery signs. Analyst Zeeshan Afzal has revealed that as credit craving has grown, banks have started financing to many sectors including power, textile, telecom, consumer, construction and communication. Investors’ confidence is at peak under the new business-friendly government and the banks have ... Read More »

Regional integration must for sustainability: PAJCCI


DUSHANBE: PAJCCI Co-President Zubair Motiwala emphasized on the importance of regional integration, strategic position of Pakistan and usage of Carec Corridor for greater sustainability of the region. He was speaking during the workshop on Regional Trading Block: Pakistan – Afghanistan – CARs in Tajikistan. During his speech, he highlighted the advantages of establishing export houses, border liaison committees, visa facilitation ... Read More »

Microsoft launching Windows 10 next year


SAN FRANCISCO: A new version of Windows has been launched by Microsoft in San Francisco having name Windows 10. An interesting and more exciting feature of the new Windows is that it has all the major specifications of both the Windows 7 and the Windows 8. It starts with Windows 8’s colourful live tiles and adjusts its behaviour depending on ... Read More »

IR officials flay manual tax refund system

Manual Tax Refund System

KARACHI: The Inland Revenue senior officials have revealed their apprehension over the manual refund system, claiming it would direct us to ‘corruption’, as Federal Board of Revenue (FBR) has given flexible powers to commissioners and other officials. Sources at the Karachi Regional Tax Office (RTO) exposed that during the last decade, FBR had given attention on the computerisation of tax ... Read More »

Tuesday Sept 09 -Monday Sept 15, 2014

Customs Today Newspaper

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Tuesday August 19 -Monday August 25, 2014

Customs Today News Paper

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EID Greetings

EID Greetings From Customs Today

Customs Today team wish you a very very Happy Eid Mubarak. May Allah shower His countless blessings upon you & family on this momentous day! Read More »

Tuesday July 22 – Monday July 28, 2014

Customs today News Paper

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