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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

Banking secrets: 3,600 accounts examined by tax department since 2001


Belgium’s tax department has already issued 3,600 authorisations for the auditing of taxpayers’ bank accounts since banking secrecy was relaxed in Belgium in 2001, L’Echo and De Tijd reported on Wednesday. Thanks to measures adopted under the Leterme II caretaker government it is now easier to access the bank accounts of a taxpayer suspected of fraud. Since 2011, Belgium’s Inspection ... Read More »

Sacked JB Hi-Fi sales star wants more than his $66K compo


Sacked JB Hi-Fi sales star Shailen Kumar says the $66,300 he has been awarded for unjustifiable dismissal is not enough. He also wants his job back. “The money is not the reason I fought this case,” Kumar told the Herald. “The money means nothing to me. I fought the case for my pride. “To get my job back, would be ... Read More »

Brazil’s economic recovery hinges on fiscal reforms, central banker says

FILE PHOTO: A costumer looks for drinks at a supermarket in Rio de Janeiro, Brazil May 10, 2019. REUTERS/Pilar Olivares/File Photo

BRASILIA: The Brazilian economy’s ability to emerge from its current funk and return to “more robust” levels of growth largely hinges on the approval and implementation of fiscal reforms, the central bank’s deputy governor said on Tuesday. In a presentation to the OMFIF think tank in London, Tiago Berriel also said inflation is under control and that the central bank’s ... Read More »

Dollar almost unchanged around ¥108.30 in late Tokyo trading


The dollar was almost flat around ¥108.30 in Tokyo trading late Thursday after overcoming its early weakness. At 5 p.m., the dollar stood at ¥108.34-35, against ¥108.31 at the same time Wednesday. The euro was at $1.1294, down from $1.339-1340, and at ¥122.37, down from ¥122.82. After moving around ¥108.40 in early trading, the dollar fell below ¥108.20 in midmorning ... Read More »

Korea’s won is Asia’s whipping boy in US-China trade war

korean won

South Korea’s exposure to a stressed global manufacturing supply chain has knocked its currency – Asia’s most risk sensitive – to over two-year lows as investors use it as a proxy to bet on the economic costs of a protracted US-China trade war. The won has dropped nearly 6% against the dollar this year, worse than some of its peers, ... Read More »

Jet Airways share price slumps over 23% on report NSE to remove stock from F&O trading from June 28


Jet Airways share price slumped in early trade today after NSE said shares would be pulled out of Futures and Options trading from June 28. Jet Airways share price slumped over 23% to 84.80 level compared to the previous close of 110.40 on BSE. Jet Airways share opened at a loss of 9.96% at 99.40 and fell to a fresh ... Read More »

Peso gains ground, local shares slip


MANILA: The Philippine peso improved against the US dollar Tuesday, ending stronger at the 51-level, but the Philippine Stock Exchange index (PSEi) closed in the red territory. The local currency finished the trade at 51.85 from 52.1 close a day ago, which BPI Research attributed to the Philippine Statistics Authority’s (PSA) trade report for April 2019, which saw a 0.4 ... Read More »

Myanmar, Thailand sign agreement to facilitate overland trade


Overland cross-border trade between Myanmar and Thailand will officially commence at the end of July following an agreement to allow vehicles from both sides across the border to facilitate the transportation of goods between the two countries. The agreement, which followed discussions that started a year ago, will see the governments of both countries issue licenses to logistics companies to ... Read More »

SA gold slump continues as annual production falls by 19.5%

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South Africa’s embattled gold sector faced more bad news on Thursday. According to Stats SA, annual gold production shrank by 19.5% in April, its 19th straight monthly decrease. Annual production fell by 18.3% in March and 21.1% in February. According to Stats SA, annual iron ore production was down 11.9%, while chromium ore fell by 7.2%. Total mining production decreased ... Read More »

Trade disputes lead Dutch central bank to revise down growth forecasts


The pace of economic growth in the Netherlands is set to slow down slightly and is now projected to reach 1.6% in 2019 and 1.5% next year, the Dutch central bank said on Tuesday in its new half-yearly forecast. Last December the bank put growth at 1.7% this year and in 2020, down from earlier forecasts of 2.2% and 1.9%. ... Read More »

No-deal Brexit would present huge difficulties to businesses in North


Businesses in Northern Ireland would face massive difficulties in the event of a no-deal Brexit, according to an expert report carried out for the Northern Ireland civil service, with the burden falling most heavily on small and medium enterprises. The findings of the report by two lawyers specialising in EU and international customs law present a “sobering reflection of the ... Read More »

Singapore’s 2019 growth forecast cut to 2.1%, trade remains top risk: MAS survey


SINGAPORE: Economists lowered again their forecasts for Singapore’s expected growth in 2019 after the year’s first quarter saw its slowest growth in nearly a decade, the latest economic survey from the Monetary Authority of Singapore (MAS) said on Wednesday (Jun 12). The survey predicts this year’s gross domestic product to be 2.1 per cent, down from the previous forecast of ... Read More »

Hong Kong shops, workers in rare strike to ‘defend freedom’


HONG KONG : Hong Kong retailer Alan Li shut up shop on Wednesday, joining about 100 businesses and numerous workers in a rare strike to protest against an extradition bill that many fear will undermine freedom and confidence in the commercial hub. “Even though we can’t do business for a day, for me there is nothing more important than defending ... Read More »

Seen as pro-business, France’s Macron tacks left at UN body

Trucks queue on a motorway in the direction of Italy near a the tunnel as people leave for holidays on April 14, 2017 in Chamonix, southeastern France. / AFP PHOTO / JEAN-PIERRE CLATOT

GENEVA : French President Emmanuel Macron has called for an EU-wide minimum wage and a stepped-up fight against inequality, in what represents a return to his left-leaning political roots as critics paint him as overly pro-business. In a speech to the U.N.’s main labour body, Macron alluded to the protests by the yellow vest anti-government movement in France that exposed ... Read More »

Record quantity of goods imported through Benapole in 3 days


A record quantity of goods was imported from India in the last three days (9 to 11 June) through Benapole port leading to revenue increase, according to customs sources. At least 354 trucks entered with goods on Sunday, 445 trucks on Monday and 382 trucks till Tuesday noon, said Mamunur Rahman, deputy director of benapole port authority. This number was ... Read More »

Xuebing Sun assumes duties as new FAO Representative for Sri Lanka


Xuebing Sun presented his credentials to Mr. Tilak Marapana, Minister of Foreign Affairs of the Democratic Socialist Republic of Sri Lanka, as the new Representative of the Food and Agriculture Organization (FAO) in Sri Lanka, at the Ministry premises on Monday, 10th June. Mr. Sun is a Senior Environmental Economist by training with 32 years of working experience in the ... Read More »

Uber takes its flying taxi ambitions to Australia


Uber has said Australia will become the first international market for its flying taxi service Uber Air. The firm has selected Melbourne as the third pilot city for its air taxi programme, joining Dallas and Los Angeles. Test flights are due to start from 2020, with the aim of launching commercial operations from 2023. Several companies are developing flying taxis ... Read More »

Azerbaijan, UAE discuss role of customs authorities in trade cooperation


Due to the intensification of trade relations in recent years, Azerbaijan and the United Arab Emirates will strengthen ties in customs to facilitate bilateral trade. Safar Mehdiyev, Chairman of Azerbaijan State Customs Committee, met with a delegation headed by Ahmed Mahboob Musabih, Director General of Dubai Customs, on June 11. Mehdiyev said that Azerbaijan attaches great importance to the development ... Read More »



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Malaysia end-May palm stocks fall to 10-month low


KUALA LUMPUR: Malaysian palm oil stockpiles fell to a 10-month low at end-May, according to official data on Wednesday, extending monthly falls since March, as export gains outpaced an unexpected rise in production. Benchmark palm oil prices have eased about 5% since the start of the year, weighed by concerns about high stocks and flat demand. Falling stockpiles could support ... Read More »