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Author Archives: CT Report

Vietnam Customs foils attempt to smuggle 2.2 tons elephant ivory


HANOI: Vietnamese customs officials seized more than 2,200 kg of ivory hidden in bags of beans imported from Mozambique during a check at Hai Phong Port on Thursday. The shipment arrived at the port in northern Vietnam on November 29, but a local company named in the invoice as the receiver claimed it did not ordered any import. Customs officers ... Read More »

Thai Customs seizes 281 elephant tusks


BANGKOK: A Thai forensic police officer inspecting confiscated African elephant tusks at the Customs department in Bangkok yesterday. The Thai authorities seized 281 tusks weighing more than 700kg, of which 168 are from African elephants, at an airport on Koh Samui island, Thai Customs said. The Convention of International Trade in Endangered Species of Wild Fauna and Flora has banned ... Read More »

Phillipines Customs issues rules on VAT tax credit certificates

tax credits

MANILA: THE BUREAU of Customs (BoC) has come out with new rules to allow companies to claim their tax credit certificates (TCCs) covering value-added tax payments. In a statement issued on Friday, the bureau said firms may now apply to convert to cash their VAT import and VAT drawbacks TCCs by submitting applications before the BoC’s tax credit secretariat. The ... Read More »

Nigerian Customs new cheif urges to work with other security agencies


ABUJA: The Comptroller-General of Customs, Col. Hameed Alli (rtd) has been urged to work with other security agencies in the country to curtail the activities of smugglers during the Yuletide season. The Poultry and Livestock Farmers Association of Nigeria (POLFAN), Lagos Chapter, yesterday made the  call  to check the security, economic and health challenges that come with the inimical activities ... Read More »

Vietnam authorities to bolster efforts to stymie smuggling


HANOI:The country’s efforts in cracking down on smuggling, trade fraud and fake goods have shown progress but there still remain challenges. Participants from ministries and sectors agreed on the point last week at an online conference organised by the National Steering Board on the Prevention and Control of Smuggling, Trade Fraud and Fake Commodities or Steering Committee 389. The meeting ... Read More »

Taiwan’s semiconductor industry expected to grow 2.4% in revenue


TAIPEI: Taiwan’s semiconductor industry is expected to grow 2.4 percent in revenue next year, following an estimated 0.9 percent increase this year, the Market Intelligence and Consulting Institute forecast yesterday. The growth would outpace next year’s 2.2 percent contraction in the international semiconductor industry because of weak demand for PCs and smartphones, the MIC said. Taiwanese semiconductor companies are expected ... Read More »

Funding bill $1.2b approves for ports of Los Angeles, Long Beach


WASHINGTON: A funding bill approved Friday by Congress includes $1.2 billion to pay for dredging and other maintenance work at the Los Angeles and Long Beach ports, a local congresswoman said. Rep. Janice Hahn, D-San Pedro, called the funding “a major victory for our ports, allowing them to invest in dredging, maintenance and other improvements that will enable them to ... Read More »

RBI starts inflation expectations study of households


MUMBAI: The RBI today said it has launched the quarterly ‘Inflation Expectations Survey of Households’ for December 2015, results of which provide useful inputs to policy formulation.  The RBI has been regularly conducting the survey. “The survey seeks qualitative responses from households on price changes… in the next three months as well as in the next one year and quantitative ... Read More »

CBI hold checks at Chennai airport to curb gold smuggling


CHENNAI: A CBI team today held checks at the airport here in connection alleged irregularities over seizure of smuggled gold, police said. The CBI sleuths arrived here in the wee hours and held checks at the International Arrival area, police said without divulging further details. Read More »

India announces marginal rise in import tariff value on gold


MUMBAI: The Indian Government today announced hike in import tariff value for gold . On the other hand, import tariff value on silver was reduced. The import tariff value of gold was increased marginally by nearly 0.87%, in accordance with prices of precious metals in the international market. Meantime, tariff value on imported silver has been dropped modestly by 2.82% ... Read More »

Manitoba’s annual inflation rate eases in Nov


LONDON: Manitoba’s annual inflation rate eased in November thanks in part to a decline in natural gas prices, Statistics Canada said today. In its latest monthly consumer price index report, the federal agency said Manitoba’s annual rate dipped to 1.8 per cent from 1.9 per cent in October. The decline came on the heels of a 0.6 per cent jump ... Read More »

Shipments of beef to UK down 18% in Oct 2015


LONDON: Shipments of beef to the UK were back 18% in October 2015 compared to the same month in 2014, according to AHDB. The organisation for the English beef and sheep industry said that this was due to lower Irish production. AHDB said that exports from Ireland were down 18% year-on-year at 13,700t. It attributes this fall as a result ... Read More »

Airport opens customs office


NEW YORK: A U.S. Customs and Border Patrol (CBP) facility at the airport opened at 11 a.m. Friday morning. No international commercial flights are allowed with the designation, only business-related personnel with up to 20 passengers, or cargo. “This additional dimension — international status — can only add horsepower to what is already a powerful engine of commerce in northeast ... Read More »

FNCCI expresses concern on growing black marketing


KATHMANDU: The blockade in some of the southern border points has resulted in acute shortage of all essential goods. Refilling stations have pulled their shutters, and yet traffic congestion can be witnessed on the streets. Gas bullets have entered the country, but people have been unable to procure cooking gas. In this backdrop, the private sector has expressed serious concerns ... Read More »

International notebook shipments expected to decline in 2015


WASHINGTON: International notebook shipments next year are expected to decline between 5 and 6 percent from this year’s estimated of total 163 million units, with shipments of Taiwan’s Asustek Computer Inc and Acer Inc to fall further than their peers’, the Market Intelligence and Consulting Institute said yesterday. While the other top four PC vendors’ notebook shipments are expected to ... Read More »

CarMax earnings per share of 63 cents in Q3 of fiscal 2016


WASHINGTON: CarMax Inc. KMX posted earnings per share of 63 cents in the third quarter of fiscal 2016, ended Nov 30, 2015, registering an increase of 5% from 60 cents earned a year ago. However, earnings missed the Zacks Consensus Estimate of 68 cents. The improvement in the bottom line was driven by lower shares outstanding, which offset the 1.4% ... Read More »

Ascendas arrange third office fund in S. Korea


SEOUL: Business park developer Ascendas has folded a recently purchased office building in downtown Seoul into a new office fund in South Korea – its third in the country. The Ascendas Korea Office Private Real Estate Investment Trust 3 (Akopreits3), as the fund is called, is a seven-year closed private fund managed by the company’s subsidiary, Ascendas Asset Management. The ... Read More »

Colombia’s central bank raises policy rate 5.75%


BOGOTÁ: Colombia’s central bank raised its policy rate for a fourth straight month as it seeks to curb spending growth and cool the fastest inflation in almost seven years. The seven-member board voted to increase the policy a quarter percentage point to 5.75 percent, bank Governor Jose Dario Uribe told reporters in Bogota after Friday’s meeting. The decision, which was ... Read More »

Japan’s Govt sets to estimate tax revenue at 25-year high

tax revenue

TOKYO: Japan’s government is set to estimate tax revenue at a 25-year high of 57.6 trillion yen ($475.25 billion) in fiscal 2016, helped by rising corporate profits, when it prepares the biggest-ever annual budget next week, sources told Reuters. The draft budget for the next fiscal year is expected to rise to 96.7 trillion yen, up from the current year’s ... Read More »

Japan to spend $890m to help farmers operations


TOKYO: Japan’s agriculture ministry will set aside 110 billion yen ($890 million) to help farmers consolidate operations and boost productivity, aiming to blunt the impact of the Trans-Pacific Partnership free trade agreement. The program will be financed by this fiscal year’s supplementary budget and the fiscal 2016 spending package. The fund will cover up to half the cost of agricultural ... Read More »