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International Customs

Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Ukraine sets wheat export limit at 16.5mn T for 2017/18


KIEV: The Ukrainian government has agreed with traders that the maximum volume of wheat to be exported this season (July 2017-June 2018) will be 16.5 million tonnes, the agriculture ministry said on Thursday. Ukraine harvested around 26 million tonnes of wheat this year and the ministry said earier this year that exports could total no more than 17 million tonnes. ... Read More »

BOC warns public against online love scam


MANILA:  The Bureau of Customs (BOC) has cautioned Filipino and foreign netizens against an online scam that lures victims with fake love and promises. Customs Commissioner Isidro Lapena issued the warning after receiving reports of increasing incidents of the internet scam, citing data from the bureau’s help desk, BOC-CARES. From January to September 2017, the help desk had received a ... Read More »

Brazil’s JBS appoints O’Callaghan as new chairman


SAO PAULO: The board of Brazilian meatpacker JBS SA elected Jeremiah O’Callaghan to the post of chairman, the company said on Friday in a securities filing. O’Callaghan has been investor relations director for 10 years at JBS. He will replace Tarek Farahat, who will hold a position as ‘global advisor’ while still keeping a board seat at the company’s U.S. ... Read More »

Japan’s economy, stocks gather steam ahead of Sunday election


TOKYO: Japan’s stock market will be one to watch on Monday, after a parliamentary election Sunday will either reaffirm or call more deeply into question Prime Minister Shinzo Abe’s program of economic reform. Abe called the snap election last month to shore up his sway over parliament after a string of solid economic news drove Japan’s markets to their highest ... Read More »

S. Korea’s exports rise 6.9% in Oct. 1-20

Morocco’s auto industry exports likely to rise to $10b by 2020

SEJONG: South Korea’s exports rose 6.9 percent during the first 20 days of October compared to a year earlier, led by brisk sales in semiconductors and ships, data showed Saturday. Asia’s fourth-largest economy shipped out US$26.7 billion worth of goods from Oct. 1-20, despite short working days during the long-haul Chuseok holiday that ran for the first 10 days of ... Read More »

Lafarge Africa seeks approval to launch 132 bln naira rights issue


CAPE TOWN: Cement maker Lafarge Africa is expecting regulatory approval from Nigerian authorities for a 131.65 billion naira ($431.43 million) rights issue as it focuses on Nigeria for growth and expands into Ghana, its chief financial officer said on Friday. As part of its plan to refinance its debt, the subsidiary of Franco-Swiss group LafargeHolcim said it would also issue ... Read More »

Credit Suisse activist seeks $1 bln to back breakup plan

Switzerland’s second largest bank to cut 6,500 jobs this year

SWITZERLAND: Rudolf Bohli, the activist hedge-fund manager pushing for a breakup of Credit Suisse Group AG, said he’s in talks with more than 150 potential investors with the goal of raising 1 billion francs ($1.02 billion) for his campaign. Bohli, whose firm RBR Capital Advisors AG currently manages about 250 million francs, said most of the potential backers he pitched ... Read More »

French businesses seek clarity on Iran nuclear deal


PARIS: French businesses and foreign and finance ministry officials will meet next week as they work together to understand better the consequences of U.S. President Donald Trump’s refusal to certify the 2015 Iran nuclear deal. Multi-nationals Total and Peugeot are among the most high profile companies to have signed new deals since the accord that provided sanctions relief for Iran ... Read More »

Saudi’s Al-Falih says global oil market improving, stabilizing


RIYADH: The global oil market is improving and stabilizing, Saudi Oil Minister Khalid Al-Falih said in Baghdad on Saturday. In a speech at the opening of the Baghdad International Exhibition, Al-Falih praised the cooperation between Iraq and Saudi Arabia, which he said had helped to boost global oil prices. Speaking later to reporters, he said Saudi Arabia and Iraq were ... Read More »

ARA fuel oil stocks down on exports to Singapore


SINGAPORE: Fuel oil stocks held in independent storage tanks at the Amsterdam-Rotterdam-Antwerp storage and refining hub fell 14 percent in the week to Thursday due to exports to Singapore, according to data from Dutch consultancy PJK International. Stocks stood at around 1.26 million tonnes, a one-month low, after a very large crude carrier departed with a cargo to Singapore, PJK’S ... Read More »

Bangladesh tea prices rise


DHAKA: Tea prices in Bangladesh rose at the weekly auction for the eighth time in a row due to robust demand for quality leaves amid tight supplies. Bangladeshi tea fetched an average price of 230.27 taka ($2.79) per kg at the auction on Tuesday, compared with 229.72 taka at the previous sale the National Brokers said. There was strong demand ... Read More »

Ireland could boost its long term GDP by €15bn says PWC


DUBLIN: Ireland could boost its long term GDP by 5.4%, or around €15 billion, if the employment rate for workers aged over 55 was equal to best-performing EU country, Sweden. This is according to the PwC Golden Age Index league table which is a weighted average of indicators – including employment, earnings and training – that reflect the labour market ... Read More »

Malaysian palm oil price climbs following gains in overseas markets

Malaysian palm oil

KUALA LUMPUR: Malaysian palm oil futures edged higher on Friday after two straight sessions of declines, tracking overnight gains in overseas markets and on cargo surveyor data showing strong  exports. The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange was up 0.7 percent at 2,741 ringgit ($648.91) a tonne at the end of Friday, after ... Read More »

Hong Kong said to be considering trading tax cut


HONG KONG: The Hong Kong stock exchange reached a two-month high amid talk of a cut to the tax burden on trading activity. Citing a source privy to the discussions, Bloomberg said a representative from Hong Kong Exchanges and Clearing Ltd. had discussed with Hong Kong’s new Chief Executive, Carrie Lam, a rethink of the tax environment for traders and ... Read More »

Sri Lanka PM targets US$5bn FDI, US$20b exports


COLOMBO: Prime Minister Ranil Wickremesinghe said his administration wanted to boost exports to 20 billion US dollars in three years and foreign direct investment to 5 billion US dollars. In 2016 Sri Lanka’s exports fell to 10.3 billion dollars from 10.5 billion US dollars amid weak external demand. In a policy statement presented to parliament he said per capita income ... Read More »

Turkey wealth fund shows signs of life as it seeks foreign loan

soft loans

ISTANBUL: Turkey’s sovereign wealth fund has approached international banks including China’s ICBC for a loan, people with knowledge of the matter told Bloomberg, showing its first signs of life after more than a year of inactivity brought on by internal disputes over its strategy and management. The fund, known by its initials TWF, asked ICBC for a $5 billion (Dh18.3 ... Read More »

U.S. Ambassador welcomes reforms in Armenian customs system


WASHINGTON: Prime Minister of Armenia Karen Karapetyan, U.S. Ambassador to Armenia Richard Mills and USAID Armenia Mission Director Deborah Grieser discussed today the cooperation in fight against corruption. Karen Karapetyan attached special importance to U.S. aid for the Armenian government, reflected both in activities of Anti-Corruption Council of Armenia and implementation of reforms in various directions. Richard Mills welcomed the ... Read More »

Dubai Customs launches clients’ language guide

dubai customs

DUBAI: A language guide that includes the most popular English words with their translation and transliteration into Arabic has been launched at the Dubai Customs (DC) in order to help clients familiarise themselves with Arabic popular vocabulary. “A total of 5,000 printed guides will be distributed to clients, and electronic copies will be sent to 110,000 companies dealing with Dubai ... Read More »

Australia’s cautionary tale on LNG exports

Morocco to shortlist 3 firms for LNG imports deal

CANBERRA: Australia’s domestic natural-gas prices are rising as the country is on track to become the world’s biggest exporter of liquefied natural-gas (LNG) by 2019, the Energy Information Administration said Friday. Australia’s experience building out its export capacity of LNG is often considered a cautionary tale for what could happen in the U.S., which is experiencing a similar LNG export ... Read More »

Iran’s dairy exports to hit $1B

dairy imports

TEHRAN: Iran is one of the top milk producers and has ambitious plans to grab a bigger share of the global milk and dairy market. In an interview with Financial Tribune, Deputy Agriculture Minister Hassan Rokni estimated that Iran’s dairy exports will hit a record high of $1 billion by the end of the current Iranian year (March 20, 2018). ... Read More »