Monday , June 18 2018
Breaking News


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

Deutsche Welle: Ukraine and Russia interests ‘far apart’ as peace talks resume in Berlin

(L-R) Minister of Foreign Affairs of Ukraine Pavlo Klimkin, French Minister of Europe and Foreign Affairs Jean-Yves Le Drian, German Federal Minister for Foreign Affairs Heiko Maas and Russian Minister of Foreign Affairs Sergey Lavrov pose for a picture at Villa Borsig in Berlin on June 11, 2018, ahead of a Normandy Format meeting on the conflict in Ukraine. / AFP PHOTO / Tobias SCHWARZ

Russia and Ukraine officials are set to meet for first time in over a year on June 11, suggesting the two sides may be prepared to restart efforts to resolve the civil war in eastern Ukraine. However, German Foreign Minister Heiko Maas, who will mediate the talks in Berlin along with his French counterpart Jean-Yves Le Drian, warned ahead of ... Read More »

Ukraine’s $1oo billion question: why is farmland sales issue so toxic?


Ukraine is an agricultural paradise. It possesses a staggering one-third of the world’s ultra-fertile black soil (“chernozem”) and enjoys a reputation as one of the most farming-friendly countries on the planet. Even the Ukrainian flag, with its depiction of golden crops under a blue sky, is an ode to this ancient agrarian heritage. Meanwhile, Ukraine’s strategic location at the crossroads ... Read More »



Ukraine is an agricultural paradise. It possesses a staggering one-third of the world’s ultra-fertile black soil (“chernozem”) and enjoys a reputation as one of the most farming-friendly countries on the planet. Even the Ukrainian flag, with its depiction of golden crops under a blue sky, is an ode to this ancient agrarian heritage. Meanwhile, Ukraine’s strategic location at the crossroads ... Read More »

Ukraine’s government may inject more funds into Oschadbank’s capitalization


KIEV: The Ukrainian government may inject more funds into the additional capitalization of state-run Oschadbank. According to him, the government’s additional capitalization of Oschadbank in 2014-2016 was due to such developments as the Russian occupation of Ukrainian territory, hostilities in eastern Ukraine, the weakening of the hryvnia and the bank’s “politically motivated” loan portfolio formed in previous years. “Additional capitalization ... Read More »

Ukraine is about to make another crucial step toward Europe


This Thursday, the Verkhovna Rada (the parliament of Ukraine) is expected to consider a historic proposal to replace 25-year-old foreign exchange legislation with an entirely new law that will open our country to international investors and make it easier for Ukrainian businesses to operate globally. Technical though it may seem, liberalization of our arcane foreign exchange controls will make Ukraine ... Read More »

Savchenko ready to serve 22 years in Russian jail in exchange for 60 Ukrainian prisoners


Ukrainian Member of Parliament Nadiia Savchenko, who is suspected of plotting terrorist attacks and seizing state power, says she is ready to serve 22 years in Russian prisons in exchange for 60 Kremlin hostages from Ukraine. “As for me, I understand what could be my fate in Russia. If 60 Ukrainian captives and Crimean Tatars who are being held in ... Read More »

Ukrainian ‘snipers’ threaten Russian diplomat at UN headquarters – Zakharova


UNITED NATIONS: Participants in Kiev’s military operation in southeastern Ukraine threatened a Russian diplomat with death at the United Nations headquarters, Russian Foreign Ministry Spokeswoman Maria Zakharova told reporters. According to her, the incident took place, following a meeting on propaganda and fake news arranged by the Ukrainian delegation, which it claimed to be part of a session of the ... Read More »

Can sanctions against Russian oligarchs hit their Ukraine property


A few years ago, the dependence of the Ukrainian economy on that of its northern neighbor was so strong that a sanctions strike against Russia would ricochet violently over Ukraine. However, despite the fact that the hryvnia today saw no damage from the ruble plunge, a new package of Russia sanctions could still affect certain Ukrainian companies. Several days following ... Read More »

US defense budget draft includes $250 mln for Ukraine


US lawmakers are offering to allocate a US$250 million security assistance package to Ukraine, as they pass the 2019 defense budget draft. The US House of Representatives Armed Forces Committee on May 7 presented the Fiscal Year 2019 National Defense Authorization Bill (H.R. 5515) envisaging $250 million in security assistance to Ukraine, according to the Ukrainian Embassy in the United ... Read More »

Ukraine cuts imports from Russia but boosts pharmaceutical exports to Russia


KIEV:  Ukraine in January-February 2018 considerably increased exports of medicines to Russia, cutting their imports from the country. According to the State Statistics Service, in January-February 2018, Ukraine exported medicines for $3.5 million to Russia, which is 18% more than a year ago. Imports of medicines from Russia to Ukraine over the period fell by 40.4%, to $2.85 million. Last ... Read More »

UK inheritance tax receipts reach record £5.2bn


KIEV: The 8% rise, representing £400m, for the latest tax year comes despite the government introducing the residence nil-rate band (RNRB) allowance in April 2017. The RNRB, combined with the traditional nil rate band, allows married couples to pass on a family home worth up to £850,000 tax-free. Under the government’s current plans, the RNRB will be increased each year ... Read More »

Ukrainian sunoil exports decreased 11% in 2018


KIEV: According to the State Fiscal Service of Ukraine, Ukrainian sunoil exports totaled 1.41 MMT to an amount of USD 1.06 Bl in January-March 2018 that was down 11.07% year-on-year. The top sunoil importers at the time included India (USD 507.85 Ml worth), Iraq (USD 71.59 Ml worth) and Spain (USD 66.23 Ml worth). Sunoil supplies to these countries totaled ... Read More »

Ukraine crime gang hid proceeds in luxury London flats


KIEV: The gangsters, and in some cases family members, bought luxurious property in prime London locations, including a £12.5m flat. The daughter of a man dubbed the “Don of Odessa” is the registered owner of three homes in one expensive block. The gang were from the Black Sea port of Odessa and made money in the oil industry. They came ... Read More »

Ukraine Sunseed exports close to an abysmal low


KIEV: Ukraine exported 3.8 KMT of sunseed in February 2018 that is up 58% from the previous month but down 67% from February 2017 (11.5 KMT). Exports statistics for September-December 2017/18 are much poorer than a year ago: 22.5 KMT against 149.6 KMT, respectively. Due to a sunseed crop shortfall and tough competition from domestic crushers, Ukrainian sunseed exports at ... Read More »

Ukraine driving are prepairing a nasty surprise


KIEV: Ukraine a draft law, which provides a new approach to solving the problem of auto avtonomera, writes the with reference to Autoblog. “We understand that this issue was brewing when the government wanted to double, triple the price for the car and for lobbying for various companies, dealers and manufacturers who were pushing people to buy new machines, ... Read More »

Ukraine imports 1.1 bcm of gas worth $313 mln in Jan Feb


KIEV: Ukraine in January-February 2018 imported 1.145 billion cubic meters (bcm) of natural gas for a total of $313.366 million, according to the State Statistics Service. Thus, the average price of gas imported by the country in February 2018 was $261.1 per 1,000 cubic meters against $279.4 in January 2018. Ukraine received 402.562 million cubic meters of gas for $107.517 ... Read More »

Ukrainian annually consume 6 kg less fish than recommended


KIEV: The volume of fish consumption in Ukraine is around 14 kg per capita a year, which is 6 kg less than the recommendations of the Food and Agriculture Organization of the United Nations (FAO), Director General of the Association of Ukrainian Fish and Seafood Importers Dmytro Zahumenny has said. “With population of 35 million in Ukraine, Ukrainians consume 9-14 ... Read More »

Exports to Ukraine Up 75% Imports Down 22%


KIEV: Iran’s non-oil exports to Ukraine amounted to $70 million in 2017, registering a 75% rise compared to the year before, Iran’s Ambassador in Kiev Mohammad Beheshti Monfared said. Iran imported $552 million worth of Ukrainian goods during the same period, down by 22% year-on-year, IRNA reported. “Considering the two countries’ huge capacities, the expansion of mutual cooperation in the ... Read More »

Ukrainian agrarian exports reach $2.8 bln in January-February 2018


KIEV: During the first two months of the current year, Ukrainian agrarian exports increased by $102.1 million compared to the corresponding period in 2017 and made up $2.8 billion. Among the products mostly exported remained grains with a share of 35.3%, vegetable oils – 24.1%, and oilseeds – 12%,” the deputy minister noted. Also, according to her, the export of ... Read More »

Ukraine exports first soymeal to China prepares for new tax regime


KIEV: Ukraine’s oilseed industry is readying itself for a new tax regime later this year which will shake up the sector while this week it shipped its first cargo of soymeal to China at a time when Beijing is scrambling to find new sources of soybeans. Producer and trader Kernel sold the 48,000 mt cargo, which was loaded at Chornomorsk ... Read More »