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Author Archives: CT Report

Customs and Border Protection seizes over $400K of crystal meth

crystalmeth

LAREDO: Customs and Border Protection officers seized over $400,000 worth of crystal meth at a Laredo port of entry. The seizure happened on Sunday, August 20th over at the Colombia-Solidarity Bridge when a CBP officer referred a 2011 Chevrolet Silverado for secondary inspection. A canine and officer inspected the vehicle and discovered ten cans allegedly containing 10 pounds of crystal ... Read More »

US to tax Argentine, Indonesian biodiesel imports

tax1

WASHINGTON:  The United States on Tuesday announced new import duties on biodiesel imports from Argentina and Indonesia, which officials said received improper government subsidies. The action was spurred by complaints from a coalition of US producers who said the imports constituted unfair competition. “The US values its relationships with Argentina and Indonesia but even friendly nations must play by the ... Read More »

Saudi Arabia to charge VAT on private education

Stacks of coins with the letters VAT isolated on white background

RIYADH: Saudi Arabia will introduce 5 percent value added tax (VAT) on private educational institutions, the Zakat and Income Tax Authority told Zawya in an email statement. The 5 percent tax rate applies to private nurseries, schools and universities in the kingdom, the authority added. “The VAT will be taken from the parent if the school has already registered for ... Read More »

Iran’s SLAL tenders for 200,000 T barley, 200,000 T corn

UScorn

TEHRAN: Iranian state-owned animal feed importer SLAL has issued two international tenders to buy up to 200,000 tonnes of feed barley and 200,000 tonnes of corn, European traders said on Tuesday. The tenders close on Sept. 11, they said. A new tender had been expected by traders after SLAL made no purchase in its previous tender for the same volume ... Read More »

Iran expects $5B in petrochemical exports revenues

petrochemical

TEHRAN: Iran’s petrochemical products export volume is expected to reach 11.5 million tons in the first half of current fiscal year (started on March 21), while the revenues will reach $5.25 billion, show the statistics of the Iran’s National Petrochemical Company’s official document procured by Trend. The country’s petrochemical output for the one year period to Aug. 21 is also ... Read More »

Rouble steady as tax payments offset lower oil prices

New Zealand meat, wine exports to face uncertainty on U.S border tax

MOSCOW: The Russian rouble was steady on Wednesday as ongoing tax payments outweighed the negative impact of lower oil prices. At 0727 GMT, the rouble was 0.1 percent weaker against the dollar at 59.14 and eased 0.1 percent to 69.59 versus the euro. “Summer siesta with little volatility is under way on the Russian debt and foreign currency market,” Rosbank, ... Read More »

Russia’s Sberbank makes record 185.6 bln rouble Q2 profit

sberbank

MOSCOW:  Sberbank, Russia’s largest bank, said on Wednesday it made a net profit of 185.6 billion roubles ($3.14 billion) in the second quarter, posting a record quarterly result and beating analysts’ forecasts. Analysts polled by Reuters had forecast Sberbank would make 167.4 billion roubles in net profit in April-June. Sberbank said its net interest income increased to 357.6 billion roubles ... Read More »

Turkey’s cherry exports since April reach $155M

CHERRY

ANKARA: Featuring Turkey as the world leader in its production and the third country in exports, cherries are on their way to remote markets with Turkish Cargo. Turkish cherry exports are reported to have reached $155 million since April when the season began. With the agreement between exporters of fresh fruit and vegetables and Turkish Airlines’ (THY) subsidiary Turkish Cargo, ... Read More »

Ghana fields paperless customs queries

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ACCRA: Ghana Ports & Harbours Authority (GPHA) has announced that no layoffs are required for implementing paperless customs at national ports, according to Citi Business News. Stakeholders had reportedly been concerned about labour impacts of the new system. However, there will be personnel realignment regarding auditing in the customs clearing process. There will not be any job losses, in fact ... Read More »

Kazakh oil export revenues have increased 53% in 2017

oil

WASHINGTON: Almost 80 percent of all oil produced in the country is exported. The revenues of the Kazakh budget from the export of crude oil increased 53 percent this year. Oil export increased 46 percent, according to Energyprom. In the last six months, the prices for crude oil increased 27.2 percent in comparison with the same period last year. At ... Read More »

Wyoming unemployment rate rises

unemployment

CHEYENNE: The unemployment line is a bit more crowded in Wyoming. According to the latest numbers by the Wyoming Department of Workforce Services, the unemployment rate rose in July slightly from 3.9% in June to 4.0%. However, Wyoming’s unemployment rate was significantly lower than its July 2016 level of 5.4%. From June to July unemployment rates fell in 20 counties, ... Read More »

China’s July sugar imports slump to three-year low

sugar

BEIJING:  China’s July sugar imports plunged for a second month to just 60,000 tonnes, the lowest in three years, after Beijing imposed hefty tariffs on foreign arrivals in late May and slashed import permits, customs data showed on Wednesday. July imports <SU-CN-IMP> were down 86 percent from 420,000 tonnes a year ago, and down 57 percent from 140,000 tonnes last ... Read More »

China July iron ore imports from North Korea fall 25% on year

iron-ore

BEIJING: China’s iron ore imports from North Korea fell almost a quarter in July from a year earlier, according to data released on Wednesday for the month before the United Nations passed a vote to impose tougher sanctions on Pyongyang. Imports of iron ore from North Korea fell 24.5 percent in July from the same month a year earlier to ... Read More »

Malaysia July inflation rate eases to 3.2% YOY, just below forecast

inflation

KUALA LUMPUR: Malaysia’s consumer price index in July rose 3.2 per cent from a year earlier, government data showed on Wednesday, slowing in pace for the fourth month in a row. July’s annual inflation rate was just below the 3.3 per cent forecast by economists in a Reuters poll. Headline inflation reached an eight-year high of 5.1 per cent in ... Read More »

Singapore’s overall inflation edges up to 0.6% in July

inflation - 1

SINGAPORE: Singapore’s overall consumer price index (CPI) edged up to 0.6 percent year on year in July, from 0.5 percent in June, according to local authorities. The higher inflation was mainly contributed by higher retail and water prices in July, said the statement jointly released by the Ministry of Trade and Industry and Monetary Authority of Singapore (MAS) on Wednesday. ... Read More »

Port of Oakland approves shore power facility extension

oakland port

WASHINGTON: The Port of Oakland has approved a $230,000 high-voltage cable system allowing more vessels to connect to its shore power facility, with the equipment aiding efforts to limit ships’ diesel emissions, the AJOT has reported. The port said that two successful trials of the mobile cable-on-reel system have taken place and it expects the new technology to be put ... Read More »

Port Isabel facility to receive overhaul

port isabel

PORT ISABEL: Even the smallest Texas port puts down a big footprint. The Port Isabel-San Benito Navigation District port facility has an annual economic impact estimated at $85.5 million. Officials hope to improve on those dollar numbers thanks to a new $1 million federal grant announced yesterday which they say will jumpstart a major facility renovation. “Our ports are very ... Read More »

King Abdullah Port throughput rises 14% in first half of 2017

KAP

RIYADH: King Abdullah Port announced the increase of its throughput to 821,694 TEU in the first half of 2017, representing an increase of around 14% compared to the same time last year, where the throughput was 720,483 TEU. The port also announced an increase in the number of vessels received during the same period, reaching 398 vessels compared to 349 ... Read More »

Hutchison Ports in Basra port management deal

hp

WASHINGTON: Hong Kong-based global port operator Hutchison Ports is making inroads into the Middle East market  with a deal to manage the Port of Basra in Iraq. The deal will see Hutchison team up with NAWAH Port Management (NPM), the port management arm of the Pritzker Family Business Interests vehicle NAWAH (North America Western Asia Holdings). Hutchison has agreed to ... Read More »

Canada stocks higher at close of trade; S&P/TSX Composite up 0.22%

canada stock

OTTAWA: Canada stocks were higher after the close on Tuesday, as gains in the Consumer Discretionary, Healthcare and Energy sectors led shares higher. At the close in Toronto, the S&P/TSX Composite added 0.22%. The best performers of the session on the S&P/TSX Composite were Mitel Networks Corporation (TO:MNW), which rose 3.35% or 0.34 points to trade at 10.50 at the ... Read More »