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Author Archives: CT Report

Aleem Khan tenders resignation from four PA bodies

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LAHORE: Pakistan Tehreek-e-Insaf (PTI) leader Aleem Khan on Wednesday has resigned from membership of four standing committees of Punjab Assembly. Aleem Khan was part of privilege, human rights, and minority affairs committees while he has also left membership of Public Accounts Committee 2 (PAC) and special committee 6. The PTI leader was included in these committees during his National Accountability ... Read More »

SBP issues directives to banks for Assets Declaration Ordinance 2019

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KARACHI: The State Bank of Pakistan (SBP) on Wednesday issued directives to all banks to incline their operations to newly issued Assets Declaration Ordinance-2019. In a notification to the president and CEOs of all banks, the State Bank said that the ordinance has been promulgated with a view to provide for voluntary declaration of undisclosed assets, sales and expenditures, for ... Read More »

US journalist describes being interrogated by US Customs at airport

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When Rolling Stone contributing editor Seth Harp flew home from Mexico, Customs officials at the Austin airport detained him for secondary screening. He was told that he had to comply with a thorough search of his phone and laptop or he wouldn’t be allowed to enter the US. In retrospect, I was naive about the kind of agency CBP has ... Read More »

ICA officers seize cigarettes hidden in modified cars

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SINGAPORE: More than 389 cartons of duty-unpaid cigarettes were seized by Immigration and Checkpoints Authority (ICA) officers last Friday (Jun 21) in two attempted smuggling cases at Woodlands Checkpoint. Two Singaporean men, aged 30 and 44 years old, were handed over to Singapore Customs for further investigation after the cigarettes were found. The cigarettes were hidden in various modified compartments ... Read More »

Boris Johnson’s comments on the Irish border show he’s learned absolutely nothing

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Boris Johnson has said that if he is made Prime Minister, he will need EU co-operation to avoid a hard border and devastating tariffs in the event of the UK leaving without a deal. In an exclusive interview with the BBC, the former foreign secretary criticised the UK negotiating team for creating the backstop to prevent a hard border in ... Read More »

As Georgia’s Relations With Russia Sour, Moscow Says Its Wine Has Too

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Critics say it’s a tactic commonly applied by Russia to discipline its backyard. Russia insists politics has nothing to do with it. But as protests over Russian influence continue to rock Georgia, Moscow is hinting at a form of punishment its former Soviet dependencies know all too well: a ban on their most popular staples. Russia’s consumer protection agency announced ... Read More »

Big data helps detect fake goods being sold online in Hong Kong

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Customs officials are using big data to help detect fake goods being sold online in Hong Kong. During a 12-day operation codenamed Eagle Web which ended yesterday, Hong Kong Customs officers seized 236 items of suspected counterfeit clothing, shoes and handbags with an estimated market value of about $110,000. The goods were all being sold by shops using promotions on ... Read More »

UK Caribbean overseas territories signs new customs organisation treaty

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CBC Director Charles Clifford and CCLEC Permanent Secretary Albert Sandy look on as the UK Ambassador to Cuba signs the treaty (Photo courtesy Aaron Smith) GEORGE TOWN, Cayman Islands (CNS) – Britain’s ambassador to Cuba, Antony Stokes, signed up most of the UK’s Caribbean Overseas Territories to a new Caribbean Customs Organisation (COO) recently at the 41st Annual Caribbean Customs ... Read More »

China’s May soybean imports from top supplier Brazil fall amid swine fever woes

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BEIJING: China’s May soybean imports from top supplier Brazil fell 31% from the same month last year, customs data showed on Tuesday, with buyers curbing bookings of the animal feed ingredient as African swine fever has reduced the nation’s pig herds. China bought 6.3 million tonnes of soybeans from Brazil in May, down from 9.124 million tonnes the previous year, ... Read More »

UAE participates in Arab Customs Tariff meeting

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The UAE, represented by Majid Obaid Al Suwaidi, Head of the Policies and Procedures Department at the Federal Customs Authority, is participating in the 42nd session of the Arab Commission for the Unified Customs Tariff at the Arab League headquarters in Cairo. In a statement on the sidelines of the meeting, which began on Tuesday, Abdulaziz Abdulmohsen Al Mogheera, Director ... Read More »

Sri Lanka successfully launches USD bond with over 3 times oversubscription

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Sri Lanka returned to the US dollar bond markets, successfully pricing a new issuance of 500 million dollars 5-year and 1.5 billion dollars long 10-year bonds with over three times over subscription. The Central Bank said the final orderbook stood at over 1.8 billion dollars across 165 accounts for the 5-year tranche and over 4.4 billion across 290 accounts for ... Read More »

Iran’s Non-Oil Trade With G7 at $7.2b in Fiscal 2018-19

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Iran traded 4.84 million tons of non-oil commodities worth $7.24 billion with members of the Group of Seven during the last Iranian year (ended March 20, 2019) to register a 26.38% and 26.31% decline in tonnage and value respectively compared to the year before. Latest data released by the Islamic Republic of Iran Customs Administration show Iran’s exports totaled 1.11 ... Read More »

China’s Australian coking coal imports halve in May from April

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BEIJING, June 25 (Reuters) – China’s imports of Australian coking coal in May plunged 49.3% from a month earlier, customs data showed on Tuesday, as buyers held off purchases because of uncertainty regarding government policy on Australian imports. Arrivals of Australian coking coal were at 1.38 million tonnes last month, down from 2.72 million tonnes in April, according to data ... Read More »

Russia leads as top crude supplier to China, overtakes Saudi

Oil pumps in operation at an oilfield near central Los Angeles on February 02, 2011.  World oil prices recently rallied close to $100 per barrel, as traders absorbed impressive fourth-quarter US economic growth and fretted over worsening political turmoil in Egypt. Most other commodity markets also won support this week from news that the US economic recovery picked up speed in the last three months of 2010, stoking hopes of strengthening demand for raw materials. The US economy grew at its fastest clip in five years in 2010, the Commerce Department reported, as the country bounced back from recession and fears of a double-dip recession ebbed.                                        AFP PHOTO/Mark RALSTON (Photo credit should read MARK RALSTON/AFP/Getty Images)

Russia became the largest crude oil supplier to China in May, supported by robust demand from private refiners and alongside a fall in supplies from Iran. Imports from Russia came in at 6.36 million tonnes in May, or 1.50 million barrels per day (bpd), data from the General Administration of Customs showed on Tuesday. On a barrels per day basis, ... Read More »

Border agency still using licence plate reader linked to U.S. hack

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Canada’s border agency is still using Perceptics’s licence plate reader equipment, even after the company fell victim to a recent malicious cyberattack in the U.S. Earlier this month, news surfaced that photos of travellers and licence plates collected for U.S. Customs and Border Protection had been compromised in a May privacy breach. The Canada Border Service Agency, which uses the ... Read More »

Investments to grow 15.8pc of GDP during FY 2020

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ISLAMABAD: The investment to GDP ratio has been targeted by the government to grow at 15.8 percent during the upcoming fiscal year 2019-20 in order to achieve sustained and inclusive growth, according to official sources. Among the total investments, the fixed investment is expected to grow to 14.2 percent of GDP during the year while the National Savings as percentage ... Read More »

FBR decides to bring unregistered doctors into tax net 

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ISLAMABAD: In an effort to broaden tax base, the Federal Board of Revenue (FBR) here on Tuesday decided to bring unregistered doctors into tax net, according to media. In a letter to Pakistan Medical and Dental Council (PMDC), FBR sought details of its members within 10 days. All the doctors registered with the PMDC were bound to file their tax ... Read More »

Gold prices hit record high at Rs80,500 per tola

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KARACHI: With Rs1300 per tola increase, the gold prices have hit record  high in Pakistan. Gold has reached Rs 80,500 per tola with the increase of Rs 1300 on Tuesday. While the price of 10 gm gold touched Rs69,016 with the hike of Rs 1,115 here. The increase in the prices at local market is witnessed after the gold hit ... Read More »

IHC seeks Flagship Investment details from NAB

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ISLAMABAD: The Islamabad High Court (IHC) Tuesday directed National Accountability Bureau (NAB) to submit details in a chart form regarding Flagship Investment reference against former prime minister Muhammad Nawaz Sharif. A division bench comprising Justice Aamer Farooq and Justice Mohsin Akhter Kiyani heard a NAB’s appeal challenging the decision of trial court acquitting former prime minister in Flagship Investment reference. ... Read More »

PSX dip 281 points amid economic concerns

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 Pakistan Stock Exchange (PSX) experienced a volatile session on Tuesday amid a dearth of market triggers, the possibility of FATF blacklisting, lack of clarity on rupee depreciation and concerns over surging inflation. On the economic front, the Petroleum Division has sought an increase of up to 200pc in the prices of gas for domestic consumers (expected to take ... Read More »