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Author Archives: CT Report

APM Hafeez Shaikh plants sapling as part of 10 Billion Tree Tsunami Afforestation campaign

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ISLAMABAD: Adviser to Prime Minister on Finance & Revenue, Dr Abdul Hafeez Shaikh planted a sapling in the lawn of Ministry of Finance as part of 10 Billion Tree Tsunami Afforestation campaign here today. The plantation drive by the Finance Division has been launched as part of the Clean and Green Pakistan Index project through participation of the federal, provincial ... Read More »

Appraisement West distributes work among deputy, assistant collectors

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KARACHI: Collectorate of Customs Appraisement West Additional Collector Muhammad Saeed Wattoo issued office order for distribution of work amongst eight deputy and assistant collectors with immediate effect : Read More »

Banking system witnesses withdrawal of Rs711b during July

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KARACHI: The banking system has witnessed massive withdrawal of an amount around Rs711 billion during July 2019 after reaching record high deposits by end of June 2019. According to State Bank of Pakistan (SBP) the total deposits of banking system declined to Rs13,747 billion by end of July 2019 as compared with record level of Rs14,458 billion by end of ... Read More »

Sri Lanka BOI holds Business and Investment Forum at Gujarat Chamber of Commerce and Industry

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Colombo: The Board of Investment of Sri Lanka recently held a Business and Investment Forum at the Gujarat Chamber of Commerce and Industry (GCCI) in Ahmedabad, targeting the Chamber’s membership. This Forum was supported by the Sri Lankan High Commission in New Delhi and the Sri Lanka Consulate General in Mumbai. Malik Samarawickrama, Minister of Development Strategies and International Trade ... Read More »

EU reports 106% rise in the number of Saudi asylum applications in 2019

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The number of Saudi Arabian nationals applying for asylum in the European Union (EU) increased 106 percent year-on-year in the first six months of 2019, according to official figures released last week. The latest data from the European Asylum Support Office (EASO) showed that 101 Saudis applied for asylum in the EU during the first half of this year, compared ... Read More »

Traders body CAIT calls for boycott of Chinese products, demands 500% import duty hike

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Traders body CAIT on Sunday gave a call for the boycott of Chinese products and sought high customs duties of up to 500 per cent on these goods as China supported Pakistan’s case on abrogation of Article 370 in Jammu and Kashmir at the UNSC. It said that while presenting and supporting Pakistan’s case on abrogation of Article 370 in ... Read More »

China warned it should not pin its hopes on Russian soybeans plugging supply gap caused by US trade war

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Russian soybean exports to China are likely to remain low for the next few years, an agricultural specialist has warned, suggesting that amount produced will not be enough to provide a real alternative to the United States. China suspended purchases of US soybeans and other farm products this month after US President Donald Trump threatened to impose more tariffs on ... Read More »

Firms named and shamed over ‘absurd’ freight

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A Swiss environmental group has named and shamed companies for the “absurd transport” of goods, including one firm that flew cans of alpine air almost 20,000km for sale in Asia. The Alpine Initiative wants to fight environmental pollution and make consumers more aware of the environmental cost of freight transportation. It is encouraging members of the public to vote for ... Read More »

Northeast: New Online Digital System Hits India-Bangladesh Trade

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Due to introduction of a new online trade management system — Electronic Data Interchange (EDI) – the India-Bangladesh trade through Tripura has been hugely affected for the past two weeks, traders and officials said on Monday. A customs official said that the EDI was introduced on August 5 in all the border trade centers in the Northeastern states along the ... Read More »

Biggest drug bust in Malaysian history: Almost 4 tonnes seized worth over half a billion ringgit

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PETALING JAYA: More than a half a billion ringgit worth of ketamine and cocaine have been seized in a joint operation between Bukit Aman and the Customs Department at Pusat Perdagangan Alam Jaya, Puncak Alam. Said to be the biggest drug bust to date, over three tonnes of cocaine and half a ton of ketamine were seized during the joint ... Read More »

Beef Imports from Australia Grow Rapidly, Aided by Preferential Lower Tariffs

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CHINA – China has substantially increased beef imports from Australia in the first seven months of 2019, reaching the yearly imports quota under the free trade agreement between the two countries four months earlier than expected. The bilateral free trade trade talks may be accelerated as China’s domestic market continues to expand and the country is seeking more trade partners ... Read More »

Amazon is passing along costs of a new digital tax to thousands of French sellers

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Virginie Lemaire recently opened her email to an unsettling message from Amazon: fees for sellers like her in France will be increasing by 3%. Lemaire, a single mother of two, started her jewelry company Perle d’un jour in 2011. Trained as an artisan jeweler, she makes handmade custom pieces like necklaces, bracelets and rings. The French small business owner started ... Read More »

Last week’s gloom and doom has not seized Canadian economy yet: Don Pittis

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A glance at the business headlines over the past week might have left you thinking the world was on a fast track to economic Armageddon. Markets crashed. There were renewed warnings about the inverted yield curve, which, almost bizarrely, has moved from economic arcana to bar chatter. Banks in Denmark offered to pay interest to mortgage seekers to encourage them ... Read More »

Hong Kong billionaire tycoons call for end to protests as unrest affects their profits

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Hong Kong’s property tycoons are hurting, the share market is tanking and the tourism sector has taken a beating as the pro-democracy movement continues to strangle the city. While the US-China trade war has fuelled some of the losses, weeks of violent protests have wreaked havoc for investor sentiment and caused huge reputational damage for the semi-autonomous territory as an ... Read More »

Dubai may have to do without Bakewell tarts if UK ports ‘meltdown’ post-Brexit

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An official document predicting a “three-month meltdown” at UK ports unable to cope with extra checks after Brexit, has been dismissed as scaremongering by Downing Street, while a senior retail executive Logistics Middle East spoke to said the impact to the Middle East will be mild. “We may have to go without Bakewell tarts and other uniquely British goods for ... Read More »

The impact of growing US-China tensions on Singapore

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SINGAPORE: We are all worried about the growing tensions between the United States and China. Their disputes have placed other countries in a dilemma. No country wants to take sides, and Singapore is no exception. This is why I want to discuss US-China tensions, and their impact on us. Since its reform and opening up, China has developed rapidly to ... Read More »

UK documents warn of ‘meltdown’ in wake of no-deal Brexit

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Leaked British government papers that outline the effect of a no-deal Brexit show the need for an orderly withdrawal by the UK from the EU, Government sources have said. The documents, published by the Sunday Times, warn of a hard Irish border, a three-month “meltdown” at ports and shortages of food and medicine if the UK leaves the EU without ... Read More »

Iranian Tanker Leaves Gibraltar Over U.S. Objections

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LONDON—The Iranian tanker impounded by Gibraltar sailed out of the British overseas territory on Sunday over the objections of the U.S., a Gibraltar official said, raising hopes that Iran would reciprocate and release a British-flagged tanker in the Persian Gulf. The ship, renamed the Adrian Darya 1 and given an Iranian flag, left Gibraltar’s waters around 11 p.m. local time ... Read More »

EU needs to let go of double standards against Turkey

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Ankara recently declared the readmission agreement with the European Union is no longer functional, and experts say the main reason for this is the EU’s failure to deliver on its commitments stemming from the deal and discretional treatment of Turkey. Valeria Giannotta, an academic expert in Turkish politics and international relations, said that the EU has not fulfilled its pledge ... Read More »

KSE-100 index gains 797 points to close at 29,562 points

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KARACHI: The KSE-100 Index of the Pakistan Stock Exchange (PSX) on Monday witnessed an upward trend by gaining 797 points to close the index at 29562 points. According to analysts, the recent simmering tensions between nuclear-armed Pakistan and India over Kashmir dispute have pushed investors to adopt cautious behaviour in the trading. Besides, the stringent policies, implemented following passage of ... Read More »