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Philippines Customs seizes counterfeit cigarettes wroth P12m

MANILA: The Bureau of Customs (BoC) has seized more than P12 million worth of smuggled and counterfeit cigarettes in Davao City, its biggest haul of illegal cigarettes so far. The bureau’s Enforcement Group conducted a raid in warehouses across the city which yielded a haul worth P12.68 million of fake cigarette sticks posing as products of Philip Morris Fortune Tobacco ... Read More »

Nigeria Customs generates N26b at Tin-Can Port in Nov

ABUJA: The Tin-Can Island Port Command of the Nigeria Customs Service on Monday said it generated N26.3 billion in November, up from N24.7 billion generated in October. The spokesperson of the command, Chris Osunkwo, disclosed this to the News Agency of Nigeria (NAN) in Lagos. Mr. Osunkwo in his breakdown said the command generated N15.15 billion from import duty and ... Read More »

Azerbaijan oil exports down 1% in Jan-Nov: Customs

BAKU: Azerbaijan’s oil exports edged down by 1 percent in January-November compared with the same year-ago period, driven by a decline in oil production, a source at the State Customs Committee said. Azerbaijan exported 29.9 million tonnes of oil in the first eleven months of this year down from 30.2 million tonnes in the same period of 2014, the source ... Read More »

Dastgir sees positive results of WTO decisions for Pakistani farmers

ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan Monday said that Pakistan has obtained positive results for its farmers at WTO Ministerial Meeting in Nairobi Kenya through vigilant presence, vigorous participation and clear articulation. In a statement received here, the minister said that Pakistan’s agriculture exports will have a level playing field as World Trade Organisation (WTO) has eliminated immediately agriculture ... Read More »

Russia to impose food sanctions on Ukraine from next month

MOSCOW: Russian Prime Minister Dmitry Medvedev has announced to impose food embargo on Ukraine from next month. Russia is imposing the food sanctions on Kiev over its trade agreement with the EU, extending the punitive measure currently in place against Western countries. “These measures will be extended to Ukraine too” because no deal respecting Russia’s trade interests had been reached, ... Read More »

More than 20% work of CM rural roads programme completed

MULTAN: More than 20 per cent development work on the second phase of Punjab Chief Minister’s rural roads programme has been completed as 14 rural roads of Multan division were selected under the programme. Highway Department Superintendent Engineer Khawar Bhutta told APP on Monday that the rehabilitation work on 14 rural roads of Multan division was in progress with a ... Read More »

50,000 graduates to be trained under PM’s youth programme

ISLAMABAD: Prime Minister’s Youth Programme Chairperson Leila Khan has said that about 50,000 graduates would be offered paid internship under the PM’s Youth Training Scheme, which is set to be launched soon. In an exclusive talk with the state-owned news agency on Monday, Leila pointed out that an educated youth, having 16 years of education from Higher Education Commission (HEC) ... Read More »

National Savings collected Rs129 billion till 14th

ISLAMABAD: The Central Directorate of National Savings (CDNS) collected Rs129 billions till December 14, during the current fiscal year 2015-16 as against the proportionate target of Rs138 billion. An official of the CDNS told APP here Monday, the estimated target of the national savings for the year 2015-16 has been set for Rs302 billion. Likewise, he said during the first ... Read More »

Shipping intel report of Karachi Port

KARACHI: The Karachi Port Trust (KPT) issued the following shipping report for the last 24 hours, ending 0700 hours on Monday. ALONG SIDE (Bulk Oil Pier): Berth No Ship Working Agent Berthing Date OP-I Lahore D.Crude Oil PNSC 20/12/15 OP-II Serengeti L.Naptha Alpine 19/12/15 OP-III Karachi D.Crude Oil PNSC 20/12/15 ALONG SIDE (East Wharves): Berth Vacant......... ALONG SIDE(P.I.C.T): 6/7 X-Press ... Read More »

Coal stocks at 17 key Indian ports total 11.57 mln mt

NEW DELHI: Coal stocks at 17 major Indian ports totaled 11.57 million mt as of December 17, data released by Indian shipbroker Interocean on Friday showed. The stockpile comprised 9.29 million mt of thermal coal and 2.13 million mt of coking coal, the data showed. Anthracite stocks were at 32,000 mt, while petcoke stocks stood at 122,000 mt. The latest ... Read More »

KPT shipping movement report

KARACHI: Following were the movement of ships at Karachi Port during the last 48 hours, ending at 0700 hours on Monday. SHIPS SAILED: UAFL Zanzibar Hyundai Bangkok Alam Madu Evridiki Wan Hai 512 Equinox Aqnandoussa AL Abdali Yvonne MOl Dedication Pacific Marchioness Oriental Protea Butinah SHIPS BERTHED: Serengeti Tanker KMTC Mumbai Container Ship X-Press Euphrates Container Ship Stolt Botan Tanker ... Read More »

Ports sees cargo rise 17% in first 11 months of 2015

PHNOM PENH: The country’s two largest ports – Sihanoukville Autonomous Port (SAP) and Phnom Penh Autonomous Port (PPAP) – saw cargo throughput rise 17 percent and 7 percent respectively in the first 11 months of this year compared to the same period last year, official data showed. SAP, the kingdom’s maritime container hub, handled 357,545 20-foot-equivalent units, or TEUs (standard-sized ... Read More »

Customs officer Shah Faisal’s performance allowance restored

ISLAMABAD: The performance allowance of Shah Faisal, a Pakistan Customs Service officer of BS-17, has been restored on filing of declaration of assets. The allowance (equivalent to 100 per cent of basic pay) of Shah Faisal, which was discontinued vide Board’s Notification No. 0760-C-I/2015 dated 19.03.2015, has been restored with effect from June 19, 2015, in light of Para 7 ... Read More »

Shipments of copper expected to drop 20-30% in 2016

BEIJING: Some Chinese importers of refined copper have reduced bookings of term shipments for 2016, expecting lukewarm domestic demand and weak prices to continue, industry sources in China said. Term shipments of refined copper are likely to fall 20-30 percent in 2016, said one executive at a large trading firm in Shanghai, putting average monthly term imports next year at ... Read More »

Pak rupee depreciates by 15 paisas in open market

KARACHI: The Pakistani rupee Monday lost value against the US dollar in open market, and remained firm in interbank. According to the local money market, the American currency gained 15 paisas in open market to reach 106.55 and remained steady in interbank at 104.40. On Friday, the dollar lost five paisas in open market for selling at 106.40 and remained ... Read More »

Kuwait exports decrease 45.1% in Q3

KUWAIT: In July-September 2015, Kuwait’s exports were KD 4. 1 billion with a 45.1 percent decrease and imports were KD 2.3 million with a 3.9 percent increase compared with July-September 2014, according to foreign trade statistics. In July-September 2015, balance of trade was KD 1.8 billion while it was KD 5.3 billion in July-September 2014 with a 65.7 percent decrease. ... Read More »

2-in-1 PC shipments to see growth in 2016

WASHINGTON: While notebook and tablet shipments have seen slow growth or decreases, 2-in-1 notebook/tablet shipments have significantly increased and therefore global 2-in-1 shipments in 2016 are expected to grow on year by a double-digit rate, according to Taiwan-based supply chain makers. As demand for notebooks has been stagnant and tablets have been cannibalized by large-size smartphones, many notebook/tablet vendors, such ... Read More »

K2 revenues increase 30% over last year

WASHINGTON: Wind industry consultancy K2 Management increased over the last year its revenue by 30% and grew the number of employees by 40% The Danish company’s turnover for the financial year 2014/2015 – from 1 October to 30 September –accumulated to €10.44m (EBIT of 8%). The number of employees increased to 75 from 53. K2 Management managing director Henrik Stamer ... Read More »

KPMG revenues increase 8.1% in local currency terms

MANAMA: KPMG International announced aggregated network revenues of $24.44 billion for the fiscal year ending September 30, representing an 8.1 per cent increase in local currency terms, up from 6.3pc in the previous year. “This has been an exciting year for KPMG, as we have continued to innovate and invest at a record pace to meet rapidly changing global business ... Read More »

Saudi crude oil exports rise to 7.364 million barrels a day in Oct

RIYADH: Saudi Arabia boosted crude exports in October to the highest level in four months, as the world’s biggest oil exporter added barrels to a worldwide supply glut that has contributed to a slump in prices. Saudi shipments rose to 7.364 million barrels a day in the month from 7.111 million in September, according to the latest figures from the ... Read More »