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Author Archives: Sajid Nawaz

Tokyo stocks close 0.49pc lower as yen climbs, Nikkei 225 sheds 85.82pts

Tokyo-Stocks-07

TOKYO: Tokyo stocks ended 0.49 percent weaker as yen climbed and the Bank of Japan withheld new easing measures. The Nikkei 225 index at the Tokyo Stock Exchange, which jumped 2.07 per cent on Tuesday, lost 85.82 points to 17,280.48 on Wednesday. The broader Topix index of all first-section issues was down 0.50 per cent, or 7.02 points, to 1,390.61. Read More »

Runcorn Docks smashes monthly cargo record, freight volumes doubled in 2014

port

LONDON: Runcorn Docks has doubled the amount of freight it handled over the past 12 months following a multi-million pound investment by owner Peel Ports. And in December, the facility dealt with 50,126 tonnes of cargo – its highest-ever monthly total. The cumulative weight of the record shipment of cargo is equivalent to more than 31,420 Range Rover Evoques, more ... Read More »

Cigarette imports drop 14.4% amid e-cigarettes demand surge in Korea

cigrate

SEJONG: Cigarette imports dropped on-year in 2014, but imports of electronic cigarettes leaped as South Koreans tried to kick the habit after the government raised prices, the customs office said. The government raised the average price of a pack of cigarettes by 2,000 won (US$1.84) on Jan. 1, pushing smokers to quit with the help of e-cigarettes. A tally from ... Read More »

Spanish leader of heroin smuggling gang detained

leader

MADRID:  The fugitive leader of a drug smuggling gang, whose members included a Cornish grandmother who used pasties to hide heroin, has been arrested in Tenerife. Stephen Blundell, pleaded guilty to conspiracy to supply heroin in April 2013, but fled to Spain before he could be sentenced. But the 36-year-old, who is originally from Liverpool, was held on a European ... Read More »

GCC customs union fully operational from Jan 1

DOHA: The long-awaited Gulf Cooperation Council (GCC) customs union became fully operational from January 1.The move signifies a qualitative leap towards a full-fledged regional common market. The first phase of the customs union was launched in January 2003 and its full implementation has taken 12 years. Hurdles like how customs revenues would be shared by member-states according to their economic ... Read More »

Southern Shrimp Alliance helps US, CBP counter fraudulent trade

US

NEW YORK: The Southern Shrimp Alliance has registered strong support for the proposed revisions in detailed formal comments to CBP. Form 5106 is required from each “person, business firm, government agency, or other organization” that will file an import entry with the agency and is also required of the “ultimate consignee for whom an entry is being made.” In practice, ... Read More »

UK: Revenue effect of new restriction similar to 36pc increase in bank levy

OXFORD:  The revenue effect of a new restriction on the use of carried forward losses for UK banks is similar to a 36 percent increase in the bank levy, according to accountancy firm EY. Chancellor George Osborne’s 2014 Autumn Statement included plans to limit to 50 percent the amount of profit in established banks that can be offset by carried-forward ... Read More »

Thai Customs claims $140,000 seizures within 10 days

BANKOK:  Thai customs claims that about Ks 140 million (US$140,000) worth of contraband, including garment-factory materials and bracelets assumed to be made from jade, were caught at airports, ports and borders, according to the Customs Department. At Yangon International Airport, approximately Ks 1.9 million worth of commodities were confiscated. In one case, Ks 1.5 million worth of Skywalker X-8 (camera ... Read More »

Bangladesh Customs officers accused of gold smuggling

DHAKA: Bangladesh Customs arrests five people, including three top Biman officials, the detectives have concluded that a gang, comprising people in and outside the airline, has been involved with gold smuggling through the Dhaka airport for quite some time now. One of the arrested, Captain Abu Mohammad Aslam Shaheed, is the chief of flight planning and scheduling and also the ... Read More »

Qatar customs seizes 43g hashish, 350 narcotic pills

Hashish

DOHA: Hamad International Airport (HIA) and the Abu Samra border post have seized some quantities of hashish and narcotic pills. At least 350 narcotic pills were seized from motorists at Abu Samra check post on the Qatar-Saudi Arabia border. The pills were concealed in the dashboards and engines of the cars. At HIA, 43 grams of hashish was recovered from ... Read More »

Wal-Mart’s Vudu launching huge franchise, fans can buy 400 Disney, Pixar, Marvel movies

vudu-wal-mart-logo

LOS ANGELES: Walt Disney Co’s cloud-based movie storage service will give customers the ability to add purchases from Vudu, an online store operated by Wal-Mart Stores Inc. Films bought on Vudu will be integrated with the Disney Movies Anywhere service starting on Jamie Voris, Disney Studios’ chief technology officer, said at an event where the company highlighted mobile initiatives. Disney ... Read More »