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Author Archives: ghadia

Cambodia Chamber elects Meng as president

PHNOM PENH: Chairman of the Royal Group, was reelected president of the Cambodia Chamber of Commerce yesterday in a landslide vote at its Phnom Penh office. The tycoon, whose interests span television, banking, telecoms and property, was also reelected president of the Phnom Penh Chamber of Commerce. During the one-day election, Mr. Meng received 33 of 34 votes, and another ... Read More »

India, Pakistan agree to enhance bilateral trade ties

NEW DELHI: Standing Committee of Federation of Pakistan Chambers of Commerce & Industry (FPCCI) on Horticulture & Food Exports Chairman Ahmad Jawad has emphasised that Pakistani and Indian businesses need to make joint efforts to find new opportunities of bilateral interest in trade and investment and lobby their governments to reform policy and open doors to businesses of both countries. ... Read More »

Omani developer eyes Qatari funding for $2.5bn project

MUSCAT: Leading Omani developer Omagine is in talks with a major Qatari bank to secure funding for the first phase of its ambitious mixed-use tourism and real estate project in Muscat estimated to cost $2.5bn, said a report. The company’s US-based majority shareholder, Omagine Inc, stated in a filing to the US Securities and Exchange Commission (SEC) that it has ... Read More »

Border security force seizes Indian fake currency

KOLKATA: The Border Security Force seized Fake Indian Currency Notes (FICN) of face value Rs 18,00,000 close to the international border in Baishnab Nagar in Malda on Sunday. A Bangladeshi smuggler was apprehended. The seizure was made by troops of the 20Bn BSF based at Sovapur Border Outpost. “Specific information was received by BSF regarding suspicious movement of a person ... Read More »

Nepal force arrests 2 Indian in smuggling case

NEW DELHI: Nepali security forces on Sunday arrested two Indian security personnel after they intruded into the Himalayan nation while chasing smugglers, a senior official said. The detainees were later released by the Nepali authorities. A Sashastra Seema Bal (SSB) official said a 13-member SSB patrolling party was chasing smugglers near the India-Nepal border when constables Roshan and Ram Prasad ... Read More »

5% of budget spent on development

KABUL: Municipality officials of northern Balkh province say 95 percent of the total budget has been spent on development during the current solar year. Addressing an accountability conference here on Saturday, Mazar-i-Sharif Mayor Mohammad Younus Muqim said despite serious economic problems, the municipality had collected more revenue. On the sidelines of the event, he told Pajhwok Afghan News the revenue ... Read More »

Iraq reserves of hard currency within international standards

BAGHDAD: Central Bank of Iraq announced on Sunday, that Iraq has reserves of hard currency within international standards, noting that the decline process in the reserve is normal. The governor of the Central Bank Ali Alaq said in a statement obtained by, “Iraq has a reserve within the international standards,” noting that, “We still cover the Iraqi dinar with ... Read More »

UAE, US non-oil trade reaches AED69b in 9 months

DUBAI: The non-oil trade exchange between the United Arab Emirates and the United States of America rose by four per cent during the first nine months of 2015 to reach AED69 billion, compared with AED66.3bn for the same period in 2014, according to the US Census Bureau. UAE exports to the US amounted to AED6.86bn during the period from January ... Read More »

Saudi Arabia lifting ban on cement, steel export

RIYADH: Saudi Arabia is considering lifting partial export bans on cement and steel to relieve oversupply in the local market, customs department official said. Saudi government bodies are studying whether to ease restrictions on cement and steel exports after local production doubled, exceeding the storage capacity of the kingdom’s largest companies, customs department spokesman Essa al-Essa told. Steel stocks have ... Read More »

Oil prices trade down $42 in Asia

SINGAPORE: Oil prices traded below $42 in Asia Monday ahead of an OPEC meeting and the release of data on China´s important manufacturing sector later in the week. The market will be watching whether members of the Organization of the Petroleum Exporting Countries, which meets on December 4, slash currently high output levels and ease a crude supply glut that ... Read More »

Rice exports drop 24% on Basmati slump

ISLAMABAD: For the four months ended FY16, PBS numbers show a 24 percent surge in the quantity of rice exported year-over-year, but a 6 percent decline in dollars earned. The plot thickens when one looks at the types of rice – in both dollar and quantity terms. Basmati exports have plummeted over last year while non-Basmati exports have gained tremendously. ... Read More »

Iran’s foreign trade hits $56.939b: Iranian Customs

TEHRAN: Iranian Customs Department has said the country’s foreign trade volume reached US $56.939 Billion during the first eight months of Iranian year which begins March 21. State news agency Fars said the volume of imports reached $27.307 Billion,, down 20.95% compared to the same period in 2014. China and the United Arab Emirates, South Korea, Turkey and Switzerland, respectively ... Read More »

US Customs arrests man in drugs smuggling case

NEW YORK: Danny Lemay, 27, Boucherville, Quebec, was charged by state police at U.S. Customs, town of Orleans, early on Saturday morning with seventh-degree criminal possession of a controlled substance. State police did not provide any other information. Read More »

Customs, BSF tiff hits export at Mahadipur land port

MALDA: A dispute between Customs and BSF has stalled export through Mahadipur land port centre. Sources said BSF jawans had asked the Customs officials to give clearance of goods-loaded lorries about 500m away from the border, but Customs refuses to do so. This has stopped lorries from crossing the border. At Mahadipur land port centre, BSF battalion 24. has recently ... Read More »

Nigerian Customs destroys N1, 365m worth of frozen products

ABUJA: Nigerian Customs Service, NCS, Federal Operation Unit, Zone C, says it has destroyed 1, 365 cartons of imported frozen products valued at N11.56 million in Benin. This is contained in a statement by the Comptroller of Zone C, Victor Dimka, in Benin. According to the statement, 1,205 cartons of the 1, 365 cartons contained imported frozen poultry products, valued ... Read More »

Philippine Ports authority to investigate rising smuggling at Manila port

MANILA: A transparency group filed graft charges against officials of the Philippine Ports Authority (PPA) before the Office of the Ombudsman for the alleged lack of action to investigate and contain the reported smuggling of rice in a private port terminal at Manila. In a four page complaint affidavit, Benjamin Peralta, secretary general of Filipino Alliance for Transparency and Empowerment ... Read More »

Police held 3 in drugs, liquor smuggling case

NEW DELHI: Police have booked three persons in two cases under various sections of the Excise and NDPS Act at the Dyalpura and Phul police stations for smuggling drugs and liquor. Investigating officer (IO)-cum-complainant Surjit Singh at the Dyalpura police station said Sucha Singh and Sukhwinder Singh, both residents of Kothe Surjeetpura at Dyalpura, were found carrying 2 gram heroin ... Read More »

Italian police seizes 1,000 smuggled finches

ROME: The finches seized in Italy were eventually released into the wild by the Italian police. One thousand protected finches have been freed back into the wild by the Italian police after they foiled an attempt to smuggle the prized birds to Malta on board a catamaran last month. The finches were hidden in vegetable crates when they were discovered ... Read More »

Italian Customs seizes 781 shotguns in Italy

ROME: Hundreds of shotguns that were bound for Belgium have been seized by police in Italy as Europe looks to get to grips with gun trafficking. A police statement said that 781 weapons were found, packed in individual boxes in a Dutch-registered truck, at the port of Trieste. Police said that they were thought to have come from Turkey and ... Read More »

India to exempt raw material manufacturing vessels from customs duty

NEW DELHI: As per a statement from the apex indirect tax policymaking body, Central Board of Excise and Customs (CBEC), exemption from customs and central excise duties will now be available on all raw material and parts used in manufacturing of ships, vessels, tugs and pusher crafts. An official press release said notifications 44/2015-Central Excise, 45/2015-Central Excise, 54/2015-Customs and 55/2015-Customs, ... Read More »