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Author Archives: CT Report

Vietnam allows Japanese apple imports after 4 year ban

apple imports

HANOI: After a four-year import ban, Japanese apples can again be sold in Vietnam according to the managing director of Aeon Vietnam Co., Ltd., Nagahisa Oyama. The fruits will be sold in Aeon’s 75 stores across the country, reported Oyama in a statement at a ceremony held in Aeon Mall Long Bien, Hanoi on December 19 to mark the event ... Read More »

Dr Ishrat warns against boost of untaxed economy in country

Dr Ishrat Hussain

KARACHI: Renowned economist Dr Ishrat Husain has said that the untaxed economy is flourishing in the country, which ultimately is making private sector wealthier the government. The Institute of Business Administration Director and former governor of State Bank of Pakistan said that if the government focused on the proper implementation of its plans and policies the country’s economic progress could ... Read More »

Azerbaijan’s oil exports fall by 1% in Jan-Nov

Oil Well Pumps --- Image by © Craig Aurness/CORBIS

BAKU: Azerbaijan’s oil exports edged down by 1 percent in January-November compared with the same year-ago period, driven by a decline in oil production, a source at the State Customs Committee said on Monday. Azerbaijan exported 29.9 million tonnes of oil in the first eleven months of this year down from 30.2 million tonnes in the same period of 2014, ... Read More »

Indian exotic fruit imports increase 15-20% annually

economy increases

NEW DELHI: As more and more Indian consumers include rare and exotic fruits in their diet, the exotic fruit industry is growing at a healthy 15-20% per annum. The increasing popularity of fruits such as Sharon from Spain and horned melon and avocados from New Zealand mean that importers are making more investments in infrastructure. Even consumers from small places like ... Read More »

Philippines Customs seizes smuggled cigarettes  worth over P12 million

illegal cigarettes seized in West Yorkshire

MANILA: The Bureau of Customs (BoC) has seized more than P12 million worth of smuggled and counterfeit cigarettes in Davao City, its biggest haul of illegal cigarettes so far. On Dec. 3, the bureau’s Enforcement Group conducted a raid in warehouses across the city which yielded a haul worth P12.68 million of fake cigarette sticks posing as products of Philip ... Read More »

Nigeria Customs generates N26bn at Tin-Can Port in Nov


ABUJA: The Tin-Can Island Port Command of the Nigeria Customs Service on Monday said it generated N26.3 billion in November, up from N24.7 billion generated in October. The spokesperson of the command, Chris Osunkwo, disclosed this to the News Agency of Nigeria (NAN) in Lagos. Mr. Osunkwo in his breakdown said the command generated N15.15 billion from import duty and ... Read More »

Qatar Customs foils attempt to smuggle 12.5 kg of marijuana


DOHA: The customs officers at Hamad International Airport (HIA) foiled attempts to smuggle around 12.5kg of marijuana into the country in two separate operations. In the first operation, the customs officer-in-charge, suspected the luggage of an Asian traveller and ordered a full search resulting in the confiscation of 6.5kg of marijuana. In the second operation, another customs officer suspected the ... Read More »

India Customs seizes 8kg gold worth Rs. 10 million

gold imports fall

CHENNAI: Customs officials today seized eight kg of gold worth more than Rs two crore from air passengers who were trying to smuggle the precious metal, airport sources said. Customs officials at Chennai airport seized three kg gold worth Rs one crore from a 55-year old woman. The woman who arrived from Kuala Lumpur was found to have concealed the ... Read More »

Poland police seize record amount of cocaine worth $27m


WARSAW: Polish police says they have seized a record amount of cocaine worth around $27 million US that arrived via Belgium in a shipment of bananas from Colombia. Warsaw police spokesman Mariusz Mrozek said Monday that the haul of 178 kilograms of 90 per cent pure cocaine was seized near the capital city on Saturday, hidden in a truckload of ... Read More »

Interpol seizes counterfeit drugs worth $7m in Sept

illegal medicine

HONG KONG: Interpol seized counterfeit drugs worth $7 million in September in an operation encompassing 13 Asian countries, the international police organisation said Monday. Medication including antibiotics, anti-hypertension pills and even rabies vaccines were taken from hundreds of pharmacies and markets, including dozens of online pharmacies, as Interpol attempts to curb the widespread sale of fake drugs being produced in ... Read More »

BSF seize narcotics near Bangladesh border


KOLKATA: The BSF on Monday, Dec 21 seized over one kg of narcotics from near the Bangladesh border in West Bengal’s Murshidabad district, an officer said. Troopers of the 4th battalion of the Border Security Force seized the material suspected to be heroin from near the international border in Lalgola area. “A special patrol team challenged a man carrying a ... Read More »

India’s DRI seizes 5.2kg gold worth Rs. 13.5 million


CHENNAI: Officers of the Directorate of Revenue Intelligence (DRI) seized 5.281 kilograms of smuggled gold at the international airport here on Monday. The gold was found concealed in the rectum of two international passengers who landed here by an Air India Express flight from Kuala Lumpur and inside the aircraft’s toilets. Acting on specific intelligence collected by the DRI Chennai ... Read More »

BSF foil attempt to smuggle 22kg heroin


AMRITSAR: Border Security Force (BSF) men claimed to have seized 22-kg heroin near Shameke border outpost in Ferozepur sector on Monday. Ferozepur BSF deputy inspector general of police RK Thapa said on a tip-off a special ambush was laid on the intervening night of December 20 and 21 in the area. Around midnight, the ambush party saw some suspicious movement. ... Read More »

Red Hat revenue rises 17.6% to $391m in 3Q


CALIFORNIA: Open-source software solutions provider Red Hat (RHT) reported its 3Q15 results on December 17, 2015. The market reaction was positive on the results announcement. Red Hat rose by 5.3% in after-hours trading. Negative currency effects from the EMEA (Europe, the Middle East, and Africa) and APAC (Asia and Pacific) regions knocked Red Hat’s revenues. RHT’s total revenues generated in ... Read More »

BlackBerry revenue falls by 30% to $548m in Q3


WATERLOO: BlackBerry (BBRY) has a market capitalization of $4.5 billion. Its YTD (year-to-date) price movement was stable in 2015. After its fiscal 3Q16 earnings report, BBRY rose 10.4% to close at $8.61 per share as of December 18, 2015. The stock’s price movements on a weekly, monthly, and YTD basis are 12.1%, 12.8%, and -21.6%, respectively. Technically, the stock has ... Read More »

Indian gov’t generates over Rs 4,500 crore revenue from toll plazas in FY16


NEW DELHI: The government has generated more than Rs 4,595 crore as revenue from 348 toll plazas across the country till November 15 of the current fiscal, Parliament was informed today. Fee is levied and collected on small stretches of national highways (NHs), Minister of State for Road Transport and Highways P Radhakrishnan said in a written reply to Rajya ... Read More »

Ukraine Customs announces introduction of ASYCUDA system

Ukraine Customs announces introduction of ASYCUDA system

ODESA: The Odesa Customs is implementing the ASYCUDA system of customs data processing, head of the customs Yulia Marushevska has said at a press conference. According to her, the process of implementing the system will take about a year. The agency will get software free of charge, but will have to spend UAH 17 million on training staff to operate ... Read More »

FBR to issue notices to over 2,000 non-payers

Stamp with word notice inside, vector illustration

KARACHI: The Federal Board of Revenue (FBR) will issue notices to over two thousand people those are out of tax net despite having taxable income for bringing them into tax net, from December 28 Sources said that FBR is getting information regarding the potential taxpayers through the investigation of sale and purchase of property and luxury vehicles and it has ... Read More »

CDA organises ‘Awareness Seminar on Controlling Dengue Epidemic’ at ICCI


ISLAMABAD: The Health Directorate of Capital Development Authority (CDA) organized a seminar at Islamabad Chamber of Commerce and Industry to create awareness in business community about pre-emptive measures for controlling dengue epidemic. As per details, Health Services CDA Director Dr. Hasan Orooj gave a detailed presentation over the disease. He said dengue was a mosquito borne virus, which was recognized ... Read More »

FCCI chief hails proposed incentives for non-filers to bring them into tax net


FAISALABAD. Chaudhary Muhammad Nawaz, President FCCI has welcomed the proposed incentives for the non-filers in order to bring them into tax net and demanded that same incentives and facilities should also be provided to the filers. According to a statement, he said that classification of filers and non-filers prompted a long debate which also affected the normal business activities in ... Read More »