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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

Generali profits rise, capital reserves hit by new rules

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MILAN: Generali, Italy’s biggest insurer, reported a larger-than-expected 28 percent rise in first-quarter net profit helped by asset sales, though capital ratios fell due to regulatory changes. Generali’s solvency ratio, a key measure of financial strength, stood at 207% at the end of March, down from 217% three months earlier, largely due to expected regulatory changes, the company said. Analysts ... Read More »

Vietnam Airlines offers 7.5 million seats in summer

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HÀ NỘI — The national carrier Vietnam Airlines will provide more than 7.5 million seats (equivalent to nearly 36,000 flights) on domestic and international routes, increasing by nearly 600,000 year-on-year, from June 1 to August 31, serving increasing travel demand in this summer’s peak. In the peak three months, the carrier will offer more than 4.8 million seats for domestic ... Read More »

Latest Data Reveal Greek Inflation on the Rise

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ELSTAT, Greece’s official statistics authority, released its latest data on the country’s annual EU-harmonized inflation on Friday, which showed a slight increase in prices overall. From one percent inflation seen in March of 2019, the figure increased to 1.1 percent in April. The rate of inflation in the Eurozone overall in April was at 1.7 percent. ELSTAT data also revealed ... Read More »

Building costs raise by 1.7% in April

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The building costs rose by 1.7 per cent in April this year than the previous year, according to Statistics Finland. The prices of materials went up by 2.0 per cent, those of labour inputs by 1.6 per cent and those of services by 0.9 per cent compared with April 2018. From March to April, the total index of building costs ... Read More »

TUI warns of 2019 headwinds from Spain overcapacity, 737 MAX grounding

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TUI said its first-half losses deepened due to airline overcapacity for Spain and the grounding of its 15 Boeing 737 MAX planes. These two issues could plague the Anglo-German tour operator over the rest of the year. TUI said it needed clarity over the status of its grounded planes by the end of May or it will take another hit ... Read More »

Oman Fisheries Posts Losses Due To Illegal Fishing, Export Restrictions

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Illegal fishing by foreign fishermen, lower global demand from key markets and some export restrictions adversely impacted Oman Fisheries Co’s profitability in the first quarter of this year. Oman Fisheries reported a net loss of RO782,554 for the quarter ended March 31, 2019 as against a net profit of RO65,246 in the corresponding period of last year, according to the ... Read More »

‘ADB is focusing on bigger, transformative projects in Nepal’

Photo: THT

The Asian Development Bank has approved loans and grants of $5.8 billion and technical assistance of $0.2 billion for Nepal since 1966. But Nepal has not been able to utilise a big portion of funds made available, with cumulative loan and grant disbursements standing at $3.6 billion. The Manila-based multilateral lender has long been saying weak governance has prevented Nepal ... Read More »

Smart ports crucial to Kuwait’s economic reform and development goals

Fire erupted aboard the Cormo Express carrying 50,000 Australian sheep
at Kuwait's Shuwaikh port where it docked after Saudi Arabia rejected
it on health grounds, an Australian official and Kuwaiti newspapers
said October 6, 2003. A small fire erupted in fodder room aboard the
ship and was promptly put out without any damage to the ship or sheep.
Kuwait said on Saturday it would supply the ship with food, water and
fuel before it sails for an unknown destination. REUTERS/Stephanie
McGeheeWS - RTR4D5L

KUWAIT CITY: Ports will play a crucial role in Kuwait’s plans to assert itself on the regional and global stages as a lucrative strategic trade hub, in implementation of its New Kuwait 2035 development plan. Smart ports, which form a fundamental part of these plans, will aim to incorporate IT and practical technologies, both working in tandem to increase productivity ... Read More »

QNB opens new branch in Msheireb Metro Station

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Qatar National Bank (QNB), the largest financial institution in the Middle East and Africa, yesterday announced the opening of its new branch in the Msheireb Metro Station, thus being the first bank to open a branch in the new station. The opening of the new branch is testament of QNB’s keenness to provide its customers with easy access to leading ... Read More »

Iran Boosting Gas Exports to Iraq

A worker walks through   pipe infrastructure at Yablunivka Gas production plant of Joint Stock Company UGV ( Naftogas group) on Oct, 26, 2018 in Poltava oblast.

An Iranian official said the exports of natural gas to Iraq are growing steadily and are expected to hit 40 million cubic meters a day in summer. Managing director of the Iranian Gas Engineering and Development Company (IGEDC) Hassan Montazer Torbati told Tasnim that Iran’s gas exports to Iraq are constantly increasing and nearing a ceiling set on the contract ... Read More »

Escape from Rukban: Syria’s deadly, men-only desert smuggling route

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It was just before sunset last month when a dozen or so young men set out from Rukban, a remote, rocky and desolate settlement that straddles the Syrian-Jordanian border. A long and especially bitter winter had just reached its end. Basic food and medical supplies had been in desperately short supply for months and were continuing to diminish by the ... Read More »

Taiwan’s Tsai moots major shift in trade war

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Taiwanese President Tsai Ing-wen has indicated in a recent speech that her government will boost efforts to cut the island’s economic reliance on China, saying the days when “Taiwanese firms make goods in China for export to the US” are over. Tsai revealed a plan to push for a bilateral trade agreement with the US that would adhere to the ... Read More »

Brussels policemen arrested in large-scale vehicle fraud operation

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Three Brussels police officers were arrested in connection to a massive operation against a car-theft gang conducted throughout Belgium last week, federal law enforcement authorities confirmed. Two of the agents are still being questioned, while an arrest warrant has been issued for the third, the Brussels Federal Prosecutors Office confirmed to La Capital. One officer belongs to the local police ... Read More »

Top business people among New Zealanders honoured at investiture ceremony

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High-achieving business people were among the New Zealanders who received official insignia at today’s investiture ceremony at Government House in Auckland. Sir Stephen Tindall, the founder of The Warehouse, the Tindall Foundation and the family’s $250 million seed and venture capital fund K1W1 which has invested in more than 200 start-ups, along with independent director and former ASB chief executive ... Read More »

Brazil Studies Reduction of Cigarette Tax to Curb Smuggling

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RIO DE JANEIRO, BRAZIL: By the end of June, the Ministry of Justice (MJ) should decide on a tax reduction on cigarettes manufactured in Brazil. In March, an ordinance signed by Minister Sérgio Moro established a working group to assess whether tax changes would help “reduce the consumption of low-quality foreign cigarettes”. The introduction of this group was criticized by ... Read More »

Taiwan and Korea: Star-Crossed Business Partners

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Last month, the world learned that North Korea attempted to sell submarine designs to Taiwan in 2016. As Taiwan and North Korea do not have formal relations, the offer came through an unusual channel: a Taiwanese trading company that did business with North Korea received a “mandate” from the National Defense Commission (now the State Affairs Commission). Taipei confirmed the ... Read More »

DRI seizes gold bars worth nearly Rs 8 cr smuggled into India from Myanmar, arrests six

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The Directorate of Revenue Intelligence (DRI) has seized gold bars worth nearly Rs eight crore which was smuggled into India from Myanmar, and arrested six people for allegedly being a part of the smuggling racket, according to an official statement issue. The gold was smuggled into India from Myanmar through the porous Indo-Myanmar border at Moreh in Manipur. Acting on ... Read More »

PHL, Japan working on new labor initiatives

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THE Philippines and Japan are now collaborating on new labor initiatives to further strengthen the ties between the two countries, the Japanese ambassador to the Philippines said. Japanese Ambassador to the Philippines Koji Haneda made the statement as the Philippines and Japan celebrated ties in the “Reiwa era” under newly ascended Emperor Naruhito on Tuesday. Haneda also said deepening people-to-people ... Read More »

DOF: Government tax, revenue effort improved in Q1

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THE tax and revenue effort of the government improved for the first quarter of this year to 14.6 percent and 15.8 percent, respectively, due to the continuous implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, as well as tax administration initiatives, the Department of Finance (DOF) has reported. An economic bulletin of the DOF said the revenue ... Read More »

Tax authorities refund €1.26 billion in April

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Portugal’s finance ministry paid €1.26 billion regarding 1,187,716 refunds in the first month of the personal income tax (IRS) campaign, authorities said. Between 1 and 30 April, tax authorities refunded a total of 2,582,366 tax declarations, 167,000 more than in the same period 2018. The ministry said that a total of 2,666,9993 personal income tax declarations were validated in April, ... Read More »