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16,000kg of narcotics seized in 3 months: CJTF

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KABUL: Above 16,000 kilograms of drugs have been seized across the country during the last three months and 275 people, including 13 women, arrested in connection with the seizures. Criminal Justice Task Force (CJTF) spokesman Khalid Moahid told a press conference here that the drugs seized included 13,000 tablet-K. He said 82 of the detainees wanted smuggle narcotics via the ... Read More »

Two Taiwanese arrested in India for allegedly smuggling gold


Two Taiwanese nationals were recently arrested in India on suspicion of gold smuggling when law enforcement officers waited for them to pick up parcels that had gold inside, according to sources. Customs officials detected 86 wrapped parcels that contained nine kilograms of gold worth $33 million rupees (US$468,000), and then informed the person to whom the parcels were addressed that ... Read More »

IRD warns of automatic tax refund scams


Inland Revenue is warning Kiwis to be aware of scammers looking to take advantage of next year’s proposed automatic tax refunds. New Zealanders were informed recently via email about proposed changes to the tax system, but already fake emails are making their way into people’s inboxes. Bernadette Newman, a customer segment leader at Inland Revenue, said scammers are trying to ... Read More »

Brazil prosecutors charge 42 people in alleged Petrobras bribery scheme

FILE PHOTO: A man walks in front of the Brazil's state-run Petrobras oil company headquarters in Rio de Janeiro, Brazil December 5, 2018. Picture taken December 5, 2018. REUTERS/Sergio Moraes

RIO DE JANEIRO: Brazilian prosecutors leading the so-called “Car Wash” probe on Friday charged 42 people for their role in an alleged corruption scheme involving a construction contract for state-run oil firm Petroleo Brasileiro in the state of Bahia. In a statement, prosecutors said those charged included former high-ranking officials at Petrobras and its pension fund Petros, and executives from ... Read More »

Suga says Japan wants to promote free and fair trade for global economy

FILE PHOTO: Japan's Chief Cabinet Secretary Yoshihide Suga attends a news conference at Prime Minister Shinzo Abe's official residence in Tokyo, Japan May 29, 2017.   REUTERS/Toru Hanai

TOKYO: Japan’s top government spokesman said on Wednesday his government wants to promote rules that protect free and fair trade for the global economy. Chief Cabinet Secretary Yoshihide Suga, speaking during a recording of a TV program at Japanese broadcaster BS11, said Japan is ready to explain its stance in trade negotiations with the United States. Suga also warned that ... Read More »

S.Korea’s SK Innovation bets on Europe, China electric vehicle demand


South Korea’s SK Innovation, a supplier of electric vehicle (EV) batteries to Daimler and Volkswagen, aims to boost production capacity more than tenfold by 2022, betting on global demand. The company expects the battery business to break even in 2020, a senior manager said at a news conference on Wednesday at the company’s plant in Seosan, a three-hour drive from ... Read More »

Public sector banks recovery against NPAs doubles this year


NEW DELHI: Public sector banks reported recovery of Rs 60,713 crore against non-performing assets (NPAs) in the first half of the current year, which is double of the amount recovered in the corresponding period last year and more significant returns on high-value accounts are expected, the government has said. In response to a parliamentary question, the finance ministry said following ... Read More »

Stock index weakens in slow trading

Traders work at the Philippine Stock Exchange in Manila on May 7, 2012. Asian markets and the euro slumped on May 7 after voters in France and Greece voted out their ruling parties in a backlash against austerity measures aimed at battling the eurozone crisis.  AFP PHOTO / Jay DIRECTO

The local stock barometer slipped in thin trade on Wednesday, tracking regional markets that were mostly sluggish on jitters on the US treasury and Cabinet exodus as well as a partial shutdown of the US federal government. The main-share Philippine Stock Exchange index (PSEi) shed 29.7 points, or 0.4 percent, to close at 7,450.01. “It doesn’t look like we’ll be ... Read More »

Domestic demand to boost 2019 Thai economy: Krungsri Research


Krungsri Research predicts that the Thai economy will continue to grow by 4.1 per cent in 2019, close to the 4.3 per cent growth of 2018 and exceeding the post-crisis average of 3.8 per cent. Private consumption and private investment will be the major catalyst for growth, helping to offset the slowdown in external demand, they say. The expectation of ... Read More »

South African held for drug smuggling in Indonesia

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Kathlyn was arrested at Lombok’s airport after arriving on a flight from Singapore, provincial police detective chief Ricky Simon Paays told reporters. “X-ray screening at the airport found suspicious materials inside the suspect’s suitcase. Two packages containing methamphetamine were later found in the lining of her suitcase,” Paays said, adding that the offence could carry a death penalty. Indonesia enforces ... Read More »

Netherlands to implement total ban on ivory trade


The Netherlands will implement a total ban on the trade in ivory in March next year. “If you want elephants and rhinos not to be exterminated, you will also have to do something about the market”, Minister Carola Schouten of Agriculture, Nature and Food Quality said, RTL Nieuws reports. Currently ivory trade is allowed in the Netherlands as long as ... Read More »

Tuesday Dec 25 — Monday December 31, 2018

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Indonesia to rely on trade agreements to boost exports: Minister


Indonesia’s trade deficit this year, which reached US$7.5 billion in November, has forced the government to find a way to boost exports. Trade Minister Enggartiasto Lukita said on Thursday the government could not increase exports significantly this year because of various barriers, particularly the high tariffs imposed on Indonesian products that made them less competitive than the products produced by ... Read More »

Danske Bank ends miserable year with profit warning

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COPENHAGEN: Danske Bank, at the center of an international investigation into alleged money laundering, cut its 2018 outlook on for the second time this year, citing challenging market conditions on financial markets. Denmark’s biggest lender said it expects net profit for the year of around 15 billion Danish crowns ($2.3 billion), down from the 16-17 billion it had previously guided. ... Read More »

Germany to bar Iran’s US-sanctioned Mahan Air: Bild

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BERLIN: Germany is to ban flights in and out of the country by Iran’s Mahan Air, which is under US sanctions over allegations it ferries troops and supplies into Syria in support of President Bashar al-Assad, a newspaper. Bild said the German government had taken the decision to stop Mahan Air from operating its flights to Dusseldorf and Munich after ... Read More »

Funding Nemo: £600m power cable connects UK and Belgium


A £600m cable connecting the UK and Belgium’s energy systems is about to be switched on, becoming the first of a new generation of interconnectors that will deepen the UK’s ties to mainland Europe just as it prepares to leave the EU. The Nemo link is in the final stages of testing and from early 2019 is expected to transmit ... Read More »

Police in Europe, Latin America break up drug-smuggling ring


MADRID: European Union law enforcement agency Europol says police forces from three countries on two continents have broken up an international cocaine-trafficking gang. Europol says in a statement Friday that police in Spain, Italy and Argentina took part in the operation, which led to the arrest of almost 50 suspects. It says the gang is believed to have brought cocaine ... Read More »

Brazil top prosecutor indicts President Temer for corruption

FILE PHOTO: Brazil's President Michel Temer reacts during a Solemnity of Delivery of the National Order of Scientific Merit, at the Planalto Palace, in Brasilia, Brazil October 17, 2018. REUTERS/Adriano Machado

BRASILIA: Brazil’s Prosecutor General Raquel Dodge on Wednesday charged President Michel Temer with corruption and money laundering uncovered in an investigation into graft related to port concessions, according to a statement from her office. Temer, who leaves office on Jan. 1, is under investigation for allegedly taking bribes in exchange for issuing a decree in 2017 that allowed two port ... Read More »

Former Nissan chairman Carlos Ghosn re-arrested in Japan


Prosecutors in Japan have re-arrested Carlos Ghosn, possibly ending any hopes the former Nissan chairman had of an early release from detention over financial misconduct allegations. . Ghosn, who has been detained for more than a month, was re-arrested on Friday morning on suspicion of aggravated breach of trust and could face another 10 days in detention. Speculation had been ... Read More »

Korea household debt ratio up, financial system stable: central bank


SEOUL: South Korea’s financial system is stable and resilient against shocks but efforts to curb household debt need to continue as debts keep growing faster than income, the central bank said in a report. The country’s household debt grew 6.7 percent by the end of September over a year earlier, beating a 4.0 percent gain in disposable income, the Bank ... Read More »