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Author Archives: CT Report

Federal Govt starts review of all waivers on imports

import

WASHINGTON: The Federal Government has commenced the review of all waivers on taxes and Custom duties on imports approved for some sectors by the President Goodluck Jonathan adminis­tration. Some of the waivers were granted by the former Presi­dent to indigenous investors and businesses as part of mea­sures geared towards boosting investments in those sectors. Transport Minister, Mr. Rotimi Amaechi, however, ... Read More »

Dubai Customs posts 3.1% growth in transactions in Jan-Sept

port

DUBAI: Dubai Customs has registered a 3.1 per cent year-on-year growth in transactions in the first three quarters of this year, it said in a statement issued here the other day. The customs authority processed nearly 6.6 million transactions from January 1 to September 30, compared with 6.4m in the same period of 2014. The transactions comprise 19 main services ... Read More »

Philippines Customs seizes misdeclared steel worth P1 million

customs81

MANILA: Misdeclared steel products valued at almost P1 million have been forfeited in favor of the government, the Bureau of Customs said yesterday. These steel products were shipped from China to the Port of Manila but the Customs Enforcement Group intercepted the shipment after it passed through the X-ray machine manned by its non-intrusive inspection team. The BoC said the ... Read More »

Italian Customs nabs Chinese woman with undeclared 90,000 Euros

seized

ROME: A Chinese national who attempted to fly home from Italy with a whopping 90,000 euros in cash was detained at Catania International Airport earlier this month after lying on her customs declaration. According to a NetEase, the woman initially declared that she was only carrying 12,000 Euros in cash, but after appearing visibly nervous while passing through customs, the ... Read More »

Indian authorities seize smuggled gold worth Rs. 70 million

gold

IMPHAL: Gold bars smuggled from Myanmar and worth over Rs.7 crore were seized by Assam Rifles in Manipur and two smugglers arrested, an official said. Assam Rifles spokesman Akhil Dhawan said a mobile check post of 2 Assam Rifles intercepted a truck near Lilong area in Thoubal district. During a search of the truck, gold bars weighing 28 kg and ... Read More »

Indian authiorities seize red sanders worth Rs. 5 million

wood

NEW DELHI: Sleuths of the Chittoor East Division of the forest department seized 36 red sanders logs along with a goods carrier near Mangalampeta village on Sunday. The driver fled the spot when the guards intercepted the logs-laden vehicle in the thick of forest on the Naravaripalle-Bhimavaram route. Interestingly, the vehicle had two number plates, bearing the numbers TN09 BC ... Read More »

Singapore’s ICA seizes 250kg of contraband chewing tobacco

tobacco

SINGAPORE: Authorities have seized more than 250kg of duty-unpaid chewing tobacco at Singapore’s land checkpoint in Tuas on two occasions, said the Immigration and Checkpoints Authority (ICA) on Sunday. Last Thursday at about 10am, ICA officers found more than 18,000 sachets of contraband chewing tobacco in a Malaysia-registered trailer at Tuas Checkpoint. The 162kg of chewing tobacco was wrapped in ... Read More »

S. Korea’s imports of automobiles far surpass exports

export import

SEOUL: South Korea’s imports of automobiles far exceeded exports by the three local units of foreign brands through November this year, data showed Monday, reflecting the rising popularity of overseas cars in the local market. Asia’s No. 4 economy imported US$8.74 billion worth of automobiles in the January-November period, data compiled by the Korea Automobile Manufacturers Association (KAMA) showed. The ... Read More »

Indian police arrest three drug smugglers

arrests

JAMMU: In two separate cases, Katra Police has seized Smack and Poppy Straw from three drug smugglers, who were arrested during special Nakas in the town. Acting on specific information, a Police party, led by SHO Katra, Inspector Kuldeep Krishan, under the supervision of SDPO Dr Ashok Sharma and Addl SP Katra Sumir Kotwal, laid a special naka on outskirts ... Read More »

Indonesia to import 50,000 wheat from France after six years

Ethiopia wheat

JAKARTA: France is set to export its first batch of wheat to Indonesia after six years, following which wheat prices rose earlier this week Private animal feed companies in Indonesia have expressed keenness to use wheat from France as a feed option. The first vessel bound for Indonesia will load up on wheat at the French port of Rouen this ... Read More »

Russia, Iran to sign monetary agreement to facilitate mutual trade

traderegulations

MOSCOW: A senior Iranian official said on Tuesday that Iran and Russia will sign a joint monetary agreement to facilitate mutual trade transactions. The agreement is aimed to facilitate exchange of Iran’s rials and Russia’s roubles, and it will also pave the way for boosting Tehran-Moscow economic relations, Iranian Minister of Communications Mahmoud Vaezi said. Vaezi made the remarks after a ... Read More »

Taiwan collects $378m tax reveneu since 2011

revenue

TAIPEI: A total of NT$12.5 billion (US$378.73 million) in tax revenue has been collected from land and housing transactions through the luxury tax since it was introduced in 2011, government statistics released yesterday showed. Over the past five years, 2013 and last year saw higher luxury tax revenue, with NT$3.6 billion and NT$3.18 billion respectively collected in tax revenue from ... Read More »

Govt expects to impose anti-dumping duty on imports of mulberry raw silk

silk

NEW DELHI: The government is expected to impose anti-dumping duty of $1.85 (about Rs 122) per kg on imports of mulberry raw silk from China, a move aimed at protecting the domestic industry from cheap in-bound shipments. The Directorate General of Anti-dumping and Allied Duties (DGAD) during its investigation has concluded that “mulberry raw silk of grade 3A and below” ... Read More »

Ruble drops to 2.21 of Azerbaijani gapik

russian-ruble1

BAKU: The bi-currency basket, revived by the Central Bank of Azerbaijan, does not describe fully the disposition of currencies of the main consumer good suppliers in the country, but is much higher than the real import currency basket. According to customs statistics, the main suppliers of consumer goods in the country are Russia, Turkey and the EU (euro zone), but ... Read More »

Iran-EU trade stands at €6.231b in first ten months of 2015

trade

TEHRAN: Iran exported one billion euros worth of products to the European Union member states in the first ten months of 2015, a 17 percent growth from €850 million in the same period of time in 2014, according to the EU statistics agency Eurostat. The EU member countries exported €5.231 billion worth of goods to Iran from January to October ... Read More »

Mexico’s trade deficit widens to $1.57b in Nov

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MEXICO: Mexico’s oil exports fell 50.2 percent from a year earlier in November, a month in which the country’s trade deficit totaled $1.57 billion, the National Institute of Statistics and Geography, or INEGI, said. Total exports amounted to $31.02 billion last month, down 4.1 percent from November 2014, the INEGI said in a statement Thursday. Oil exports plunged 50.2 percent ... Read More »

Vietnam coffee exports fall 1.28mt in 2015

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HANOI: Vietnam, the world’s top producer of robusta coffee beans, will export an estimated 1.28 million tonnes (21 million 60-kg bags) of coffee in 2015, down 24.3 percent from last year, the government said. The export volume in December alone is estimated at 130,000 tonnes, up 12.6 percent from a year ago, the General Statistics Office said in a monthly ... Read More »

HCM City becoming cigarette smuggling hub

illegal cigarettes seized in West Yorkshire

HCM CITY: Smuggling of cigarettes from Cambodia into HCM City is becoming increasingly sophisticated, making it hard for authorities to combat it, the HCM City Market Management Department has said. With its large size and market, the city is one of the country’s tobacco smuggling hubs. Phan Hoan Kiem, head of the department, said smugglers took advantage of waterways on ... Read More »

Kuwait police nab Saudi with 600g meth

drugs

KUWAIT: Criminal detectives arrested a Saudi national red-handed using and smuggling drugs, and found 600 gm of shabu (meth) on him along with KD 245 he made from the sales. The suspect was found to be an ex-convict. The market value of the drugs was estimated at KD 21,000. In another case, Ahmadi police arrested an Indian national with 206 ... Read More »

Philippines Customs sees CMTA approval next year

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MANILA: The Bureau of Customs (BOC) is confident that the proposed Customs Modernization and Tariff Act (CMTA) will be passed into law next year. “Hopefully, by January we will have CMTA already,” Customs Commissioner Alberto Lina said as he noted that the House of Representatives had already given its final approval of the bill, which has also cleared the second ... Read More »