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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

Norway’s central bank says rate rise ‘likely’ in September


Norways’s central bank on Thursday said that it expects to raise rates in September, sending the krone zipping higher against the euro.  The Norges Bank said the “upturn in the Norwegian economy is continuing”. While underlying inflation is lower than the bank’s target, “rising capacity utilisation implies an increase in price and wage inflation further out.” “The executive board’s current ... Read More »

Indonesia stock market slumps 2.5% as trade resumes


JAKARTA: Indonesian shares slumped 2.5% their sharpest intraday fall in nearly two months, after trade resumed following a long holiday for Eid Al-Fitr celebrations. Global equity markets saw a selloff during the Eid holiday and Indonesia is expected to play catch-up, driven by stocks with high foreign ownership such as Bank Central Asia and Bank Mandiri, according to a Trimegah ... Read More »

Denmark has the world’s best work-life balance for expats


What defines a great work-life balance for expats? This is a question the world’s largest network for expats “InterNations” has set out to explore. InterNations has in this regard discovered that great work-life balance is both defined by the number of hours spend at work and the quality of hours spend outside work. Considering these factors, InterNations has recently rated ... Read More »

Nigeria, Germany explore new opportunities to strengthen economic ties


As part of efforts to grow stronger economic ties between Nigeria and Germany, the delegation of German Industry and Commerce in Nigeria in collaboration with Nigeria-German Business Association and the German-African Business Association (Afrika-Verein der deutschen Wirtschaft) hopes to explore new investment opportunities at this year’s forum. According to the organisers, the investment forum which kicked-off yesterday with the theme; ... Read More »

Belgian justice authorities consult Dexia clients’ Panama papers


Two years after the first Panama papers were leaked, Belgian justice authorities have had access for the first time to some 11 million documents from the Mossack Fonseca Panamanian cabinet, Le Soir and De Tijd newspapers, and Knack magazine reported. The investigators, including investigating judge Michel Claise went to Germany last week and were able to obtain the papers. They ... Read More »

Microsoft announces 2018 New Zealand Partner Awards winners

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The Microsoft New Zealand Partner Awards recognise innovative partners who are demonstrating inventive use of digital technology, with the awards open to all Microsoft partners big and small. The streamlined ceremony saw the awards pivot to a greater focus on customers. This year’s winners include Lexel Systems for their innovative approach to My Food Bag in the Modern Workplace category. ... Read More »

Brazil maintains key interest rate at 6.5%

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Brazil’s central bank maintained its key interest rate at 6.5 per cent Wednesday, as expected, with inflation considered to be under control despite strong depreciation of the real and a costly truckers’ strike. The bank said the truckers’ strike, which shut down much of the economy for more than a week in May, “made it difficult to read the current ... Read More »

‘Japan’s business mood mixed, underlines fragile recovery’

FILE PHOTO: A man produces machine parts inside a factory in Tokyo August 12, 2013. REUTERS/Yuya Shino

TOKYO: Japanese manufacturers’ confidence improved for a second straight month in June but the service sector’s mood slumped from May’s record high level, a Reuters poll found, suggesting some fragility in the outlook after a first-quarter contraction. The monthly poll, which tracks the Bank of Japan’s (BOJ) closely watched tankan quarterly survey, found manufacturers’ confidence was expected to increase over ... Read More »

South Korea’s Bithumb loses $31.5m in cryptocurrency heist


The South Korean cryptocurrency exchange Bithumb said 35bn won ($31.5m) worth of virtual coins were stolen by hackers, the second local exchange targeted in just over a week as cyber thieves exposed the high risks of trading the digital asset. Bithumb said in a notice on its website that it had stopped all trading after ascertaining “some cryptocurrencies worth about ... Read More »

India hits back at US, hikes import duty on 29 products


NEW DELHI: India has increased customs duty on 29 products, including pulses and iron and steel products, imported from the US as a retaliatory action against the tariff hike by Washington + . The duty hike would come into effect immediately for 28 products, while for artemia, a kind of shrimp, the rate hike would be effective from August 4, ... Read More »

Most Asean markets lower on trade woes, Philippines falls over 2%

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Most South East Asian shares traded on a weak note on Friday as investors assess the likely fallout of a global trade spat on corporate earnings, with the Philippines continuing its dismal run with an over 2 percent fall in early trade. German automotive maker Daimler late on Wednesday cut its 2018 profit forecast, as import tariffs on cars exported ... Read More »

Bangkok Bank Confident On Asean Growth Despite Trade Tensions


The President of Bangkok Bank spoke today at the AEC Business Forum 2018, expressing confidence in the ASEAN economy despite the escalating trade war between the United States and China. Bangkok Bank President Chartsiri Sophonpanich spoke of the economic potential of ASEAN, despite concerns over the trade dispute between the US and China. He believes the dispute won’t affect ASEAN, ... Read More »

South African economy projected to grow in 2018


South African gross domestic product shrank 2.2 percent in the first quarter, led by a slowdown in agriculture and mining, after expanding 3.1 percent in the final three months of last year. However, the survey of 24 economists taken in the past week forecast the economy would grow 1.7 percent this year. That was only 0.1 percentage point lower than ... Read More »

The Netherlands importing more business services


In Q1 2018, Dutch companies imported business services worth 16 billion euros, which is 54 percent more than in Q1 2014. The increase was mainly seen in imports of marketing and mediation services from within Europe. These include for example advertising, market research, consultancy and sales agent services. Statistics Netherlands (CBS) reports this on the basis of new figures on ... Read More »

Italy tells rescue ship to take migrants to the Netherlands


ROME: Italy’s anti-immigrant interior minister accused a German charity on Thursday of ignoring coastguard orders when its Dutch-flagged ship picked up 226 migrants off Libya’s coast and he said they should be taken to the Netherlands not Italy. Earlier this month Matteo Salvini pledged to no longer let charity ships offload rescued migrants in Italy, leaving the Gibraltar-flagged Aquarius stranded ... Read More »

Hong Kong, shanghai stocks end week with gains 22 june 2018


Hong Kong :Hong Kong stocks finished a painful week on a positive note Friday but investors remain on edge about a possible trade war between China and the United States. The Hang Seng Index rose 0.15 percent, or 42.65 points, to close at 29,338.70, sinking 3.18 percent over the week. The benchmark Shanghai Composite Index gained 0.49 percent, or 13.95 ... Read More »

US, India trade friction could roil strategic partnership: report


WASHINGTON :”While the media has been focused on trade war between the United States and its three main trade partners” The EU, China and NAFTA, a potential trade friction is brewing between the US and India that could negatively impact strategic partnership between the two countries. India has begun imposing tariffs on American exports worth $240 million after it failed ... Read More »

Malaysia’s central bank gets another lady governor


KUALA LUMPUR :Nor Shamsiah Mohd Yunus has been named the new Bank Negara Malaysia (Malaysia’s central bank) Governor, the second woman to hold the position after Dr Zeti Akhtar Aziz. Her appointment is effective from July 1, 2018 to June 30, 2023. She takes over from Tan Sri Muhammad Ibrahim, who resigned early this month before completing his five-year term, ... Read More »

OPEC moves towards raising oil supply as Iran softens stance


VIENNA: OPEC moved closer on Friday toward boosting oil output as its leader Saudi Arabia appeared to have persuaded arch-rival Iran to cooperate, after major consumers warned of a supply shortage. Saudi Arabia and non-OPEC Russia have said a production increase of about 1 million barrels per day (bpd) or around 1 percent of global supply had become a near-consensus ... Read More »

China’s Trade Surplus Shrinks In First Five Months


BEIJING :China’s trade surplus shrank markedly in the first five months of this year, data from the Ministry of Commerce (MOC) showed. Exports reached 957.06 billion U.S. dollars while imports stood at 857.39 billion dollars, leaving a trade surplus of 99.67 billion dollars, down 26.8 percent year on year. China’s trade growth in the Jan-May period in dollar terms stood ... Read More »