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Author Archives: CT Report

Performance allowance of 493 Customs officers of BS-16 restored

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ISLAMABAD: Federal Board of Revenue has restored the performance allowance of 493 Pakistan Customs Service officers of BS-16 after three months. The performance allowance (equivalent to 100 per cent of basic pay) in respect of the Customs officers, including 8 Principal Appraisers, 14 Appraisers, 19 Examiners, 3 Valuation Officers, 43 Deputy Superintendents, 259 Inspectors, 30 Sr Intelligence Officers, 89 Intelligence ... Read More »

Tanzania Ports Authority damage by corruption

Kuwait LNG imports

MEXICO: Tanzania’s new president John Magufuli has sacked several top port figures following the discovery that over 2,700 shipping containers were smuggled at the Port of Dar es Salaam tax free. Tanzania Ports Authority (TPA) director general Awadhi Massawe, TPA chairman Joseph Msambichaka and Shaaban Mwinjaka, secretary general of the Ministry of Transport, were dismissed after two surprise visits to ... Read More »

Vietnam sees at $4b trade deficit in 2015

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HANOI: Viet Nam could run up a US$4 billion trade deficit for the whole year after three consecutive years of a trade surplus, the Ministry of Industry and Trade (MOIT) said. The trade deficit would account for 2.4 per cent of total exports, much lower than the set target of five per cent set by the National Assembly early this ... Read More »

Vietnam expands retail markets in Asia

retail market

HANOI: Viet Nam is on the way to becoming one of the most developed retail markets in Asia, a seminar heard yesterday in Ha Noi. The Viet Nam Retailers Association (VRA) organised the Viet Nam Retail Forum 2015 with the theme of “Shopping centres and their development roadmap in Viet Nam”. The event brought together officials, retail experts, domestic retailers ... Read More »

 HTC expected to launch flagship Android 6.1 smartphone “Perfume” in spring

HTC

TAIPEI: Taiwanese smartphone manufacturer HTC Corporation is expected to launch a new flagship Android 6.1 smartphone called the “Perfume” in the first quarter of 2016,” Taiwanese smartphone manufacturer HTC Corporation is expected to launch a new flagship Android 6.1 smartphone called the “Perfume” in the first quarter of 2016,” according to a report on the high-tech website Technobuffalo. The new ... Read More »

Facebook launches security checkup tool for its Android app

facebook security

NEW YORK: Facebook has launched a new security checkup tool for its Android app, allowing users to log out of the social network from browsers and devices they haven’t used in a number of months and improve their password’s security. The tool also has the ability to send out login alerts notifying users of unauthorized account access. Facebook launched Security ... Read More »

Bakhtiar Muhammad relinquishes charge as HRM Chief

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ISLAMABAD: Bakhtiar Muhammad, a BS-20 officer of Inland Revenue Service, Thursday relinquished the charge of the post of Chief, (HRM), Federal Board of Revenue (HQ), Islamabad. The officer relinquished the charge of said post in pursuance of Establishment Division’s Notification No.1/199/2014-E-4, dated 09.12.2015. Read More »

Container cargo volume growth through US ports to slow in 2016

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LONDON: Container traffic will continue to grow, but at a slower rate, underpinning a stable outlook for U.S. ports, Moody’s Investors Service says in a report. Container cargo volume growth through U.S. ports will slow in 2016 as demand for American exports remains weak and U.S. retailers work through high inventories, according to a report by Moody’s Investors Service. Moody’s ... Read More »

Vietnamese shares pulls back on both local bourses

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HANOI: Vietnamese shares yesterday pulled back on both local bourses after Tuesday’s rally amid investor concern that an overvalued dong will undermine the country’s export competitiveness. The benchmark VN Index on the HCM Stock Exchange lost 1.6 per cent to close at 565.2 points and the HNX Index on the Ha Noi Stock Exchange was down 0.7 per cent to ... Read More »

KPMG int’l revenue dips 1.5% to $24.44bn

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AMSTELVEEN: KPMG International logged a 1.5% decline in global revenue in U.S. dollar terms to $24.44 billion in its latest fiscal year, the accounting and professional services firm said Tuesday evening. In local-currency terms, as KPMG and other major accounting firms prefer to report their revenue growth, KPMG’s global revenue for the year ended Sept. 30 rose 8.1%, compared with ... Read More »

Climate protesters target coal ports in Newcastle

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MEXICO: Climate change activists have staged operations at three coal ports and in the centre of Melbourne, chaining themselves to equipment and calling on industry to “connect the dots” in the fight against global warming. Police said three people who locked themselves onto a coal-loading conveyor belt at the Port of Newcastle were arrested, while activists said two others who ... Read More »

20 companies plans to launch IPOs on domestic exchanges

IPO (Initial Public Offering) on coin stacks with white backgrou

HANOI: About 20 companies are projected to launch initial public offerings (IPOs) on domestic exchanges this month with a total estimated value of more than VND4 trillion (US$178.6 million). The IPO of industrial zone developer Sonadezi Corporation, expected on December 30, is the biggest offering in terms of value with 131.3 million shares being put up for sales, equivalent to ... Read More »

Pak rupee depreciates vs dollar

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KARACHI: The Pakistani rupee Thursday depreciated against the US dollar both in open market and interbank. According to the local money market, the dollar added 50 paisas in open market for selling at 105.55 and gained 90 paisas in interbank to reach 104.30. On Wednesday, the dollar shed 20 paisas in cash-free market for selling at 105.05 and Re1 in ... Read More »

European stocks decline at open, Stoxx Europe 600 sheds 0.3%

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  ROME: European stock markets declined for a third straight session on Thursday, as investors were hesitant of making any major moves ahead of OPEC’s monthly oil report and the Bank of England’s policy decision. The Stoxx Europe 600 index SXXP, -0.26%  lost 0.3% to 363.04 but swung between small gains and losses. The pan-European benchmark closed Wednesday’s session down ... Read More »

Japan stocks fall for 3rd day at close, Topix sinks 1pc

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  TOKYO: Japanese stocks fell for a third day after the yen jumped against the dollar by the most in three months, damping the outlook for exporters. The Topix index retreated 1 percent to 1,540.35 in Tokyo, closing at its lowest in more than a month. The Nikkei 225 Stock Average lost 1.3 percent to 19,046.55. The yen traded at ... Read More »

Costco revenue surges 1.3% to $27,220 million

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WASHINGTON: COST succumbed to a negative earnings surprise in the first quarter of fiscal 2016. The company reported earnings of $1.09 per share that missed the Zacks Consensus Estimate of $1.17, and also declined 2.7% from $1.12 posted in the prior-year quarter due to higher operating expenses. Delving Deeper The warehouse retailer’s total revenue, which includes net sales and membership ... Read More »

Tokyo stocks decline at end of trade, Nikkei slumps 254.52pts

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TOKYO: Stocks extended losses on the Tokyo Stock Exchange Thursday, dragged down by the yen’s ascent against the dollar. The Nikkei retreated 254.52 points, or 1.32 percent, to end at 19,046.55. On Wednesday, it fell 191.53 points. The Topix closed down 15.23 points, or 0.98 percent, at 1,540.35, after shedding 13.15 points the previous day. The slump came after U.S. ... Read More »

Sunbelt Rentals revenue rises 23.2% to $1.6m in H1

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LONDON: Sunbelt Rentals posted revenue of $1,685.1 million in its fiscal first half ended October 31, compared to $1.367.9 million for the same period a year ago, a 23.2-percent increase. EBITDA jumped from $66.5 million a year ago to $819.3 million, a 22.9-percent leap. Reporting in U.K. pounds, Sunbelt and its U.K. sister company A-Plant combined for £1,267.5 million, about ... Read More »

European investors observe investments in Vietnam

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HANOI: European investors are eyeing further investments in Viet Nam, the Ambassador and head of the European Union (EU) Delegation to the country, Bruno Angelet said. Angelet made the announcement at a recent press conference in Ha Noi, after negotiations on the EU-Viet Nam Free Trade Agreement (EVFTA) were officially concluded in Brussels, Belgium on December 2. He said many ... Read More »

Researchers identify another horned dinosaur species

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WASHINGTON: The Ceratopsia family is growing again. Researchers have described a new species of plant-eating dinosaur, Hualianceratops wucaiwanensis, that stood on its hind feet and was about the size of a spaniel. It is similar in age to the oldest-known member of the “horned dinosaurs,” Yinlong downsi, although both are hornless. The findings will be published in PLOS ONE on ... Read More »