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Author Archives: CT Report

Iran’s Non-Oil Trade With D-8 Increases by 31 Percent


Iran traded 994,733 tons of non-oil commodities worth $668.67 million with member states of the D-8 Organization for Economic Cooperation during the first Iranian month (March 21-April 20) to register a 3.71% decline in tonnage and a 31.92% rise in value compared with last year’s same month. Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s ... Read More »

New rail freight service is to be launched from port in region

A NEW rail freight service has been launched from a North-East port. PD Ports, which has its headquarters in Middlesbrough, has launched a dedicated rail freight service between Teesport and Doncaster in partnership with GB Railfreight, for its major customer Containerships – Intra-European leader of multimodal transport. The new service is responding to the growing demand for Teesport as the ... Read More »

Toyota snub dents Saudi Arabia’s manufacturing drive


RIYADH – Saudi Arabia began courting Toyota two years ago to build a large car plant as part of Crown Prince Mohammed bin Salman’s grand plan to wean the kingdom off oil revenues and create jobs for young Saudis. But the Japanese carmaker has rebuffed Riyadh’s overtures following talks that dragged on without tangible results because high labor costs, a ... Read More »

USS Green Bay USS Ashland arrive in Brisbane Australia


The amphibious transport dock USS Green Bay (LPD 20) arrives in Brisbane, Australia for a scheduled port visit. Green Bay, part of the Wasp Amphibious Ready Group, with embarked 31st Marine Expeditionary Unit (MEU), is operating in the Indo-Pacific region to enhance interoperability with partners and serve as a ready-response force for any type of contingency. (U.S. Navy photo by ... Read More »

Tory leadership: Rivals clash over Irish border Brexit plans


The five remaining candidates to become the next prime minister have clashed over how to avoid a hard border in Ireland after Brexit. The MPs running to become Conservative leader answered questions from the public in a live debate on BBC One. All five agreed the border between Northern Ireland and the Republic of Ireland should remain “free and open”. ... Read More »

Istanbul Airport tests automated passport control


Turkey’s General Directorate of Security and İGA, the group which built and will operate Istanbul Airport for 25 years, will soon introduce an automated passport control system at the mega airport to get passengers to go through customs faster. Customs officers have already started conducting tests on the system. The system permits quick passport control at the airport in an ... Read More »

Who pays Trump’s tariffs, China or U.S. customers and companies?


U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. But that is not how tariffs work. China’s government and companies in China do not pay U.S. tariffs directly. Tariffs are a tax on imports and are paid by U.S.-registered firms to U.S. customs when goods enter the ... Read More »

Fact-Checking Trump’s Orlando Rally: Russia, the Wall and Tax Cuts


President Trump delivered remarks in Florida in a formal start to his re-election effort. President Trump officially began his campaign for re-election on Tuesday at a rally in Orlando, Fla., touching on themes and promoting accomplishments that are likely to be staples of his appearances from now until Election Day. Here’s a fact-check of his remarks. Russia “Nobody’s been tougher ... Read More »

Apple iPhone and Samsung fakes among HK$1 million counterfeit haul seized in raid on Hong Kong repair shop


A Hong Kong repair shop accused of using counterfeit parts to fix broken devices such as Apple iPhones for international clients has had HK$940,000 (US$120,000) worth of fake goods seized in a raid, customs officials said on Wednesday. The director and manager of a local company running the operation were arrested around lunchtime on Tuesday, when customs officers raided an ... Read More »

PSX ends flat amid uncertainty on budget approval

A sign of the Pakistan Stock Exchange is seen on its building in Karachi, Pakistan January 11, 2016. REUTERS/Akhtar Soomro/File Photo

KARACHI: The stock market ended flat on Wednesday amid uncertainty on approval of the federal budget 2019/2020. The benchmark KSE-100 index of Pakistan Stock Exchange (PSX) ended at 34,656 points from previous day’s closing of 34,682 points, losing 26 points. Analysts at Topline Securities said that during the trading session index depicted a flattish trend closing in at 34,656 points ... Read More »

Pak Rupee weakens by 16 paisas on import payments

Pak rupee 2

KARACHI: The Pak Rupee weakened by 16 paisas against dollar on Wednesday owing to higher demand for import and corporate payments. The rupee ended Rs156.97 to the dollar from previous day’s closing of Rs156.81 in interbank foreign exchange market. The foreign currency market was initiated in the range of Rs156.85 and Rs156.95. The marked recorded day high of Rs157.00 and ... Read More »

Court approves exemption plea of Raja Pervaiz Ashraf in Gepco case

Raja Pervez Ashraf

LAHORE: An Accountability Court of Lahore on Wednesday approved the exemption plea filed by former prime minister Raja Pervaiz Ashraf in Gujranwala Electric Power Company (Gepco) illegal appointments case. Two other suspects into the case who failed to comply court’s orders of summoning were issued bailable arrest warrants. During the hearing, Raja’s lawyer apprised the court that his client will ... Read More »

Govt taking measures to enhance exports: Razak Dawood


LAHORE: Advisor to Prime Minister on Commerce, Textiles, Industries Production and Investment, Abdul Razak Dawood Wednesday said that the incumbent government is taking all possible measures to promote regional trade and export-led growth of economy including furniture to bring the country out of the quagmire of the multiple crises. He expressed these views while talking to PFC Chief Executive Mian ... Read More »

KPT shipping intelligence report

Container ships wait to be unloaded at the Port of Oakland on Wednesday, March 7, 2018, in Oakland, Calif. The U.S. trade deficit rose in January to the highest level since October 2008, defying President Donald Trump's efforts to bring more balance to America's trade with the rest of the world, the Commerce Department said Wednesday. (AP Photo/Ben Margot)

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Wednesday. ALONG SIDE (Bulk Oil Pier) OP-I Quetta D. Crude Oil PNSC 19/06/19 OP-I Tsmm Dubhe D. Chemical East Wind 17/06/19 OP-II Eternal Deligence D. Mogas GAC 17/06/19 ALONG SIDE (East Wharves): 1 Al Mahboobah D. Chemical Wilhelmsen 18/06/19 1 ... Read More »

China’s Belt and Road can speed development, needs transparency: World Bank

world bank

WASHINGTON: China’s massive Belt and Road infrastructure drive could speed up economic development and reduce poverty for dozens of developing countries, the World Bank said in a new report that called for deep policy reforms and more transparency for the initiative. The long-delayed report said that the Belt and Road – a string of ports, railways, roads and bridges and ... Read More »

Dar applies for political asylum in UK

Ishaq Dar

LONDON: Ex-finance minister and Pakistan Muslim League-Nawaz (PML-N) leader Ishaq Dar has once again approached Home Office in London to apply for political asylum, a media outlet reported. As per details, this is the second time that Dar has approached the Home Office to present his case. He was interviewed against his profile by the relevant authorities for the second ... Read More »

FDI declines 49pc during first 11 months

fdi international

KARACHI: The foreign direct investment (FDI) sharply declined by 49 per cent during the first 11 months of the current fiscal year reflecting the uncertain macro­economic conditions, the State Bank of Pakistan (SBP) reported on Tuesday. According to data released by the central bank, the total FDI fell to $1.606 billion during the July-May period of the outgoing fiscal year ... Read More »

Nawaz requests to submit additional documents in IHC

Nawaz Sharif 1

ISLAMABAD: Former prime minister Nawaz Sharif filed a plea with the Islamabad High Court (IHC) seeking permission to submit additional documents in his bail petition on medical grounds in the Al-Azizia reference on Wednesday. In his petition, the Pakistan Muslim League-Nawaz (PML-N) supremo stated that he be allowed to submit verified medical reports by foreign doctors for the fulfillment of ... Read More »

Pakistan, Japan sign MoU on defence cooperation

RAWALPINDI: June 18 – Rear Admiral Owais Ahmed Bilgrami SI(M), Additional Secretary Defence, Ministry of Defence and HIDEO SUZUKI, Director General for International Affairs, Bureau of Defence Policy, Ministry of Defence of Japan Signing MoU on defence cooperation at Ministry of Defence. APP

ISLAMABAD: Pakistan and Japan signed a memorandum of understanding (MoU) on defence cooperation and exchanges. The MoU was signed after the 10th round of military-to-military talks at the Ministry of Defence in Rawalpindi. Additional Defence Secretary Rear Admiral Owais Ahmed Bilgrami led the Pakistani delegation, while the director general for International Affairs at Japan’s Bureau of Defence Policy led the ... Read More »

FBR obtains data of bank accounts holding more than Rs5m


ISLAMABAD: The banks have finally shared the details of accounts having more than Rs5 million in deposits with the Federal Board of Revenue (FBR) as the tax machinery puts together multiple data sources to nab maximum tax evaders. Reporting this to the National Assembly’s Standing Committee on Finance and Revenue by FBR Chairman Shabbar Zaidi said the assets declaration scheme ... Read More »