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Author Archives: CT Report

No gas connections for unregistered consumers: FBR

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ISLAMABAD: Federal Board of Revenue (FBR) Chairman Syed Shabbar Zaidi has sent letters to the managing directors of Sui Northern Gas Pipeline Limited and Sui Southern Gas Company Limited wherein he has requested that consumers not present on active taxpayers list under Section 181A of Income Tax Ordinance-2001, may not be provided with commercial and industrial gas connections. As per ... Read More »

FBR warns public against unregistered traders charging sales tax

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ISLAMABAD: The Federal Board of Revenue (FBR) has revealed that the general public has reported complaints against the businessmen who are charging sales tax from consumers without being registered with FBR under the Sales Tax Act-1990. An FBR circular stated, “A 13-digit sales tax registration number (STRN) is issued to every person who is registered for sales tax purpose and ... Read More »

SBP issues fresh currency notes for Eid-ul-Azha

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KARACHI: The State Bank of Pakistan (SBP), through 16 field offices of its subsidiary SBP Banking Services Corporation (SBP BSC), issued fresh banknotes of various denominations aggregating to Rs284 billion, including Rs274 billion via commercial banks and Rs10 billion via cash counters of SBP BSC, during days leading to Eid-ul-Azha. Out of the total notes issued to commercial banks, Rs12 ... Read More »

Appraisement East distributes work among 13 appraising officers

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KARACHI:  Collectorate of Customs Appraisement East Deputy Collector Muhammad Arslan Majeed Rana issued notification for distribution of work among following appraising officers with immediate effect and until further orders:   Read More »

Sindh govt bans plastic bags from October 1

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KARACHI: The Environment and Alternative Energy Department Sindh on Thursday announced a ban on selling and use of plastic bags. According to Sindh Adviser on Environment Murtaza Wahab, the ban will come into effect from October 1. The provincial adviser said that there will be a ban on manufacturing, selling and use of plastic bags, adding that a big reason ... Read More »

France threatens to BLOCK UK fish exports and not let ‘a single kilo’ into EU

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Ministers have pledged to use Britain’s EU divorce as an opportunity to reclaim control of the country’s territorial waters and have rejected linking fishing rights to a future trade deal with Brussels. This has infuriated the regional fisheries committee in Northern France, who are behind the threats to blockade Calais. Its chairman Olivier Lepretre said: “If there is a hard ... Read More »

A floating nuclear plant in Russia features a gym, bar, and pool. An expert calls it ‘Chernobyl on ice.’

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For more than a decade, the Russian town of Pevek has anticipated the arrival of a floating nuclear-power plant. This month, it is finally slated to arrive, but first the plant must complete a 4,000-mile ocean voyage. The plant, called Akademik Lomonosov, is expected to supply electricity to an estimated 100,000 homes in a remote, far-east region of Russia — ... Read More »

Sri Lanka industrial production up by 2.2-pct in Jun 2019

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Sri Lanka’s industrial production has increased by 2.2 percent in the month of June compared to the same month in 2018, new data show. Among the manufacturing industries; volume of products of ‘manufacture of paper and paper products’ (42.7%), ‘manufacture of coke and refined petroleum products’ (22.3%) and ‘manufacture of furniture’ (19.9%) have shown remarkable increases meanwhile ‘other manufacturing’ (36.6%) ... Read More »

Canada raises travel warning amid escalating protests in Hong Kong

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The federal government has issued a travel advisory that urges Canadians travelling to Hong Kong to exercise “a high degree of caution” because of the escalating protests in the city. The government’s website says there are “identifiable safety and security concerns or the safety and security situation could change with little notice.” Canadians are advised to “exercise a high degree ... Read More »

RBA governor endorses lifting public sector wage caps to stimulate economy

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The Reserve Bank of Australia has slightly reduced its growth forecast and endorsed abandoning caps on public sector wages as part of a suite of non-monetary policy measures to stimulate the economy. Appearing before the house economics committee on Friday, the RBA governor, Philip Lowe, said “things will be OK” even if governments do not take further steps to boost ... Read More »

Blacksmith business revives in Dhaka, Bangladesh as Eid al-Adha approaches

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A blacksmith works on knives at a local market in Dhaka, Bangladesh, Aug. 8, 2019. Blacksmith business here revives as Eid al-Adha, or the Festival of Sacrifice, approaches. (Photo by Salim Reza/Xinhua) Read More »

Malaysia Charges Goldman Sachs Executives in 1MDB Scandal

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Malaysia filed criminal charges on Friday against a top executive at Goldman Sachs, a former executive who now works for Alibaba of China and others, as it intensifies pressure on the Wall Street bank in a scandal involving the misuse of billions of dollars in government funds. The charges escalate the legal challenges for Goldman, which has come under scrutiny ... Read More »

Singapore slings a trade war antidote

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Singapore became the first of 46 countries to sign a new United Nations (UN) treaty on commercial mediation on August 7, when officials from 70 nations convened in the city-state to officiate an agreement designed to facilitate global trade and resolve cross-border disputes. The Singapore Convention on Mediation, the first treaty concluded under UN auspices to be named after the ... Read More »

Trump says US is not going to do business with Huawei, not ready to make a trade deal with China

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President Donald Trump said on Friday the U.S. is done doing business with Chinese telecom giant Huawei as the trade war continues to escalate. “We are not going to do business with Huawei… And I really made the decision. It’s much simpler not doing any business with Huawei…That doesn’t mean we won’t agree to something if and when we make ... Read More »

Abu Dhabi can’t afford to keep Iran out of Dubai

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Writing an article in Lobe Log on Thursday, Esfandiar Batmanghelidj, an Iran-West business diplomacy expert and Columbia University graduate, says new official moves are in the making to revive old business ties between the two Persian Gulf neighbors. The article reads: As the world teeters on the edge of another financial crisis, few places are being gripped by anxiety like ... Read More »

Turkish fund seen favourite to take over British Steel

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LONDON : The British government is set to announce a preferred bid for British Steel within days, with a Turkish fund seen as the front-runner, as it scrambles to save thousands of jobs, industry sources said. The country’s second largest steelmaker was put into compulsory liquidation on May 22 after Greybull Capital, which bought the company from Tata Steel for ... Read More »

No-deal Brexit preparations ‘top priority’, Boris Johnson says

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Preparing for the possibility of a no-deal Brexit should be “the top priority” for civil servants, Boris Johnson has told them in a letter. The PM said he would prefer to get a deal with the EU, but he said he recognised this “may not happen”. Earlier Jeremy Corbyn had urged the UK’s top civil servant to intervene to prevent ... Read More »

Ryanair pilots in Ireland vote to strike over pay

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Ryanair pilots in Ireland will join their UK-based colleagues in going on strike if the no-frills carrier does not agree to their pay demands by Monday. In a move that piles pressure on the Dublin-based carrier, members of Ialpa voted overwhelmingly in favour of industrial action, with the union citing widespread anger at the stagnation of pay negotiations with the ... Read More »

Swiss companies keep watchful eye on Hong Kong protests

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Democracy protests in Hong Kong have disrupted flights, closed shops and have placed the global spotlight on the Chinese territory. Swiss companies are monitoring the situation, wary that the chaos could impact their bottom line. While Hong Kong’s economy has stagnated in recent months, the recent turmoil’s impact so far appears mostly sartorial. Sally Yan, a Switzerland-based Chinese executive travelled ... Read More »

Saudi Arabia said to clinch $100m Joshua-Ruiz Jr rematch

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Saudi Arabia has reportedly secured hosting rights for the Anthony Joshua vs Andy Ruiz Jr boxing event after offering up to $100 million. The UK’s Telegraph reported that the rematch – which will see Joshua face Ruiz for the IBF, WBA and WBO titles in Riyadh – will take place on December 7. The newspaper also reported that an offer ... Read More »