Tuesday , October 15 2019
Breaking News
Home / Author Archives: CT Report (page 7)

Author Archives: CT Report

Trade deficit narrowed to $955M in August as Canada sold more oil and jets


The gap between what Canada buys from the rest of the world and what it sells narrowed to just under $1 billion in August, as higher exports of energy and aircraft drove exports to more than $50 billion. Statistics Canada reported Friday that Canada’s merchandise trade deficit narrowed to $955 million in August, down from $1.4 billion the previous month ... Read More »

Iran, Turkey stress expansion of trade ties


In a meeting with Turkish Deputy Minister of Customs and Trade Riza Tuna Turagay in Tehran on Wednesday, Dejpasand underlined the great history of close ties between the two countries and their officials’ great determination to expand bilateral relations, calling for the promotion of cooperation between the two neighbors. Pointing to the target of $30 billion annual trade set by ... Read More »

Brexit: UK offer ‘a step forward’ says Simon Coveney


The UK’s latest Brexit proposals are a “step forward” but further change is needed to avoid customs checks, the Irish deputy prime minister has said. Simon Coveney said he welcomed parts of the plan but added he was “not going to pretend we have a solution” as yet. He said Mr Johnson “has accepted” for the first time that there ... Read More »

U.S. Added 136,000 Jobs in September; Unemployment Rate at 3.5%


The government’s latest monthly jobs report took on added significance after a week of otherwise disappointing economic news. ■ 136,000 jobs were added last month, the government reported on Friday. Analysts surveyed by MarketWatch had expected a gain of about 147,000. Read More »

Russia, Cuba To Cooperate In Fight Against Customs Violations


MOSCOW : Russian and Cuban customs services signed documents on law enforcement and training cooperation, the press service of the Russian department said. The corresponding protocol on cooperation in combating customs violations during air transportation and the memorandum on cooperation in the field of education and training of personnel were signed by Russian Federal Customs Service First Deputy Head Ruslan ... Read More »

Almost 80pc of Customs Dept complaints related to corruption, says D-G


KLANG PORT : Almost 80 per cent of complaints received by the Royal Malaysian Customs Department (JKDM) against its officers and personnel are related to corruption, said its director-general Datuk Seri Paddy Abd Halim. However, he said the statistics were based solely on the number of complaints received, but that did not necessarily indicate that the department staff were heavily ... Read More »

Rs460m transferred to companies owned by Shehbaz’s sons: NAB


LAHORE: The National Accountability Bureau (NAB) on Friday submitted in an accountability court a report regarding the investigation of suspect Shoaib Qamar in a case pertaining to accumulating assets beyond means against the Sharif family. According to the report, an amount of Rs460 million was transferred to the companies owned by National Assembly Opposition Leader Shehbaz Sharif’s sons, Hamza Shehbaz ... Read More »

Gold edges up Rs300 per tola


KARACHI: Gold rates in the local market edged up by Rs300 to Rs87,700 per tola on Friday. Price of 10 grams of the precious yellow metal saw an increase of Rs257 and was traded at Rs75,188. Meanwhile, gold also rose in the global market on growing fears of a global economic slowdown and rising expectations of more U.S. interest rate ... Read More »

Global stocks make fragile gains ahead of US jobs data


NEW YORK: Global stocks were slightly higher on Friday, clawing back some ground lost in their worst week for months, and safe haven assets rose ahead of a key jobs report as investors hoped this week’s dismal data would trigger more United States interest rate cuts. Trading overall was subdued after a bruising week for assets considered riskier in times ... Read More »

Revival of Pakistan Steel Mills govt’s priority: PM Imran

Imran Khan 4

ISLAMABAD: Prime Minister Imran Khan said on Friday that the revival of Pakistan Steel Mills is a priority of the government, adding that the mills suffered heavily due to the negligence of the past governments. Prime Minister Imran Khan was chairing a session related to the national steel mills, where he was briefed regarding options and methods for its revival. ... Read More »

Govt rejects impression about ‘shrinking economy’


ISLAMABAD: Finance Division has described as “incorrect” the impression created in a section of the media that the Pakistan economy is shrinking. In a statement, the finance division has asserted that the macroeconomic adjustment policies introduced by the government to support balance of payment and strengthen the market confidence, which will also move toward higher and inclusive growth. The contention ... Read More »

Aggressive campaign will kick-start from Oct 15 to reap desired results: FBR chairman


ISLAMABAD: Chairman Federal Board of Revenue (FBR) Syed Shabbar Hussain Zaidi said that it is incumbent on commercial users to be registered under Income tax laws,  according to media on Friday. Taking to the social media website, Twitter, Zaidi said that the FBR was working diligently to increase the number of those registered under the income tax net. He also ... Read More »

PSX gains 281 points as bourse remains bullish


KARACHI: Positive sentiments surrounded the Pakistan Stock Exchange (PSX) once again on Friday, as the indices, despite minor hiccups in the first half of the session, managed to close in the green zone. Foreign investors offloaded shares worth $6.09 million on Thursday. On the economic front, the government is projected to add Rs19.3 trillion to its public debt in the ... Read More »

PM along with his economic team met global financial leaders during visit to US

Imran Khan3

ISLAMABAD: During the recent visit to the USA, Prime Minister Imran Khan and his delegation, including Advisor on Finance Dr. Abdul Hafeez Shaikh, Advisor to PM on Commerce Mr. Razak Dawood and Governor State Bank of Pakistan Dr. Reza Baqir met with global financial leaders, bankers and investors to share with them the economic vision and reforms undertaken by the ... Read More »

Govt taking measures to establish country’s first Exim Bank

Export Or Import Directions On A Metal Signpost

LAHORE: The Ministry of Finance, together with the Ministry of Commerce and the State Bank of Pakistan (SBP), is working to establish Export and Import (Exim) Bank in the country, which is set to start operation in 2020, according to media. The bank will assist export and import of unconventional goods to many countries of the world with which Pakistan ... Read More »

Turkey fines Facebook $282,000 over privacy breach


ANKARA: Turkish authorities have fined Facebook $282,000 for violation of data protection laws which affected nearly 300,000 people, the Personal Data Protection Board (KVKK) said on Thursday. Facebook has been facing a lawsuit in the United States from users seeking to hold the company liable for allowing third parties, including Cambridge Analytica, to access their data. On Thursday, the KVKK ... Read More »

Quetta Customs recovers betel nuts, gutka, tyres worth Rs40m from passenger buses

190519ef-c3d1-4381-bf1a-85f7390cc44b - Copy

QUETTA: Collectorate of Customs team foiled a bid to smuggle 8,000 kilograms of betel nuts, 500 kilogram Indian Pan Prag and huge quantity of non-duty paid tyres from a passenger bus. Sources told that Collector Preventive Dr. Iftikhar Ahmad received credible information about smuggling of goods through a passenger coach. He directed Additional Collector Jameel Baloch and Assistant Collector Saleem ... Read More »

KPT shipping intelligence report Sept 4

port and shipping

KARACHI:The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Friday. ALONG SIDE (Bulk Oil Pier) OP-I Karachi D. Crude Oil PNSC 04/10/19 OP-II Nordic Anne D. Mogas Alpine 02/10/19 ALONG SIDE (East Wharves): 1 Stolt Courage L. Ethanol East Wind 02/10/19 2 Liana D. Jet Oil East wind 04/10/19 4 ... Read More »

FBR finalizes draft to provide relief to developers & builders


ISLAMABAD: In a bid to provide relief and support to developers and builders industry, the Federal Board of Revenue (FBR) has finalized a draft for income tax special procedure rules. According to the draft, income computed and tax payable thereon will be on project-by-project basis under the head Income from Business. According to the proposal, rate of tax on builders ... Read More »

Director Irfan Javed’s Customs I&I impounds smuggled goods worth Rs20.6m

Irfan Javed

KARACHI: Directorate of Customs Intelligence & Investigation (I&I) seized smuggled goods loaded on two passenger buses worth Rs20.6 million. According to the details Director Irfan Javed received credible information that huge quantity of non-duty paid goods will be smuggled from Karachi to Quetta. He immediately constituted under the supervision of Additional Director Ali Zaman Gardezi which also includes Deputy Collector ... Read More »