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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

Asian shares mixed on caution over China-US trade deal

Asian shares were mixed Thursday after officials signaled work remains to be done on an agreement for a truce in the tariff war between the U.S. and China. Hong Kong led regional gains after its chief executive, Carrie Lam, announced help for the property sector. The semi-autonomous city’s economy has been languishing amid months of increasingly violent political protests that ... Read More »

Thailand to join RCEP in a bid to form world’s biggest trading bloc

During the ASEAN summit earlier this year in Bangkok, the Thai government, as the ASEAN chair, pushed RCEP members to agree to conclude RCEP talks by the end of this year. RCEP is a proposed free trade agreement between the 10 ASEAN members and the six Asia-Pacific countries with which ASEAN has free trade agreements, namely Australia, China, India, Japan, ... Read More »

Woman arrested for allegedly attempting to smuggle drugs into Durban prison

The department of correctional services has warned the public against smuggling contraband into prisons, after a woman was arrested for alleged possession of drugs at a Durban facility at the weekend. “This comes after a visitor was arrested for attempting to smuggle 200 drug capsules hidden in her underwear at the Durban Correctional Centre,” said correctional services spokesperson Singabakho Nxumalo. ... Read More »

Amsterdam to focus on people’s resilience in fight against drug crime

Amsterdam is stepping up the fight against drug crime with a package of measures focused on making neighborhoods and their residents more resilient, and on “actively disrupting” drug dealing. Dealers will be tackled at their hangouts and garage boxes, and young people who are in danger of entering the drug world will be better monitored, the city said in a ... Read More »

Good times over? Experts predict economic stagnation for Denmark

The last seven years have been a blessing for the Danish economy, but nothing lasts forever, as the saying goes. In fact, as the ramifications of Brexit and tariff conflicts between the US and China take hold, the good times might be over sooner rather than later, according to several Danish experts. “We think that the Danish economy will gear ... Read More »

Norway’s Telenor Launches Largest 5G Pilot In Scandinavia

The Norwegian telecoms giant Telenor has launched Scandinavia’s largest 5G pilot to selected customers in Elverum municipality, about 80 miles north of the capital city Oslo. The pilot in Elverum is Telenor’s most elaborate 5G project to date. More than 50 customers across the municipality will be able to connect to the 5G network to test it out on mobile ... Read More »

Trade balance deficit down by 10%

AMMAN — Jordan’s trade balance deficit for the first seven months of 2019 dropped by10 per cent compared to the figure recorded at the end of the same period last year, according to the Jordan News Agency, Petra. The drop resulted from a 5.5 per cent increase in national exports, the new agency explained. According to the Department of Statistics ... Read More »

An Industrial Crisis Is Brewing in Germany

In the darkest days of the 2009 recession, Germany’s industrial output was collapsing at an annual rate of more than 20%. An unfathomable implosion but one that thankfully ended almost as quickly as it started. Some 10 years on, a crisis is brewing once again in the country’s industrial heartlands. The pain could prove more enduring this time. So far ... Read More »

$4m penalty for Auckland money shop under anti-money laundering laws

An Auckland-based money remitter has been penalised $4 million for failure to comply with recently introduced anti-money laundering laws. Justice Mark Woolford decided Jin Yuan Finance should pay $4 million following a lawsuit from the Department of Internal Affairs. The penalty compares with $5.29 million awarded against Ping An Finance and $356,000 against Qian DuoDuo, which were both also accused ... Read More »

Belgian State bilked of 208 million euros

The State of Belgium reimbursed over 208 million euros in withholding taxes to foreign pension funds that had no right to the pay-outs, Knack magazine reported. A British court confirmed to the Flemish weekly that one person had been arrested recently under a Belgian investigation into the presumed fraud. The Brussels Office of the Public Prosecutor has been conducting an ... Read More »

Brazilian fintech Nubank has grown to 15 million users: CEO

Brazilian financial technology start-up Nubank now has 15 million clients, the firm’s chief executive said a figure which underlines the rapid growth of the Sequoia Capital-backed venture in Latin America’s largest economy. Nubank founder and CEO David Vélez disclosed the figure, which marks a 25% increase from the total it revealed in August, at the Brazil Investment Forum in Sao ... Read More »

Japan’s tax hike-related reward points total ¥6 billion in first week

The industry ministry said that the total amount of reward points related to a recent tax increase given through a state-funded program, introduced Oct. 1, reached some ¥6 billion in the first week. The program, aimed at offsetting the economic hit from the consumption tax hike from 8 percent to 10 percent at the start of the month, will continue ... Read More »

India: 2 arrested for smuggling over 700 tortoises from Odisha

Andhra police arrested two people and seized over 700 tortoises in Korukollu village of Krishna district. Kaikaluru police station sub-inspector T Ramakrishna told ANI that their team apprehended two persons who were smuggling tortoises from Odisha. “The police found two autos in which almost 700 tortoises were being smuggled to Odisha. The accused have been identified as N Anjaneyulu and ... Read More »

Philippines’ chicken imports seen surging 27% on ASF fears

MANILA, Philippines — Although African swine fever (ASF) is harmless to humans, the world’s pork consumption is expected to drop sharply amid fears of the viral infection that has recently been detected in more than 21 countries, including the Philippines. In pork’s stead, the US Department of Agriculture estimated in its biannual global livestock and poultry report that Filipino consumption ... Read More »

Thai private sector cuts economic growth forecast to 2.7-3% from 2.9-3.3%

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) agreed to lower down the economic growth projection (GDP) to 2.7-3% from 2.9-3.3% due to weakening economic growth during the first three quarters of the year. The global economic slowdown, as a result of trade tensions between China and the United States, compounded by a strong baht currency, continues to ... Read More »

Samsung Electronics flags 56% fall in third quarter profits

Samsung Electronics says it expects operating profits to drop more than 50% in Q3 amid a continued slump in the global chip market. Operating profits for July to September was expected to reach 7.7 trillion won (US$6.4 billion), down 56.2% from a year earlier – this from the world’s largest maker of smartphones and memory chips. It marks the fourth ... Read More »

Cyril Ramaphosa: We must make it easier to do business in South Africa

In everything that we do to grow our economy, our main aim must be to improve the lives of South Africans. We want to build an inclusive economy that has a real impact on the quality of life of poor and working-class people. As we work to create jobs and employment opportunities, we are also working to reduce the cost ... Read More »

13 arrested in UK in British-Dutch drug ring bust

The British police arrested 13 people an investigation into drug trafficking from the Netherlands to the United Kingdom. The British and Dutch gang suspected of being behind this operation is believed to have smuggled over 50 tons of drugs from the Netherlands to the United Kingdom, AD reports. The British National Crime Agency believes this is the largest drug smuggling ... Read More »

Textile industry under scrutiny for potential ‘import leaks’

The Trade Ministry is working with a special task force to audit producers’ importer identification numbers (API-P) to verify the textile industry’s import quantity and identify possible “import leaks”, a top official said. Trade Minister Enggartiasto Lukita said at a press forum in Batu, East Java, that he had yet to confirm the source of excess imports. He added that ... Read More »

Finland to decide how Britain votes on EU laws after Boris Johnson pulls officials out of meetings before Brexit

Finland will decide how Britain votes on new EU laws and regulations, thanks to Boris Johnson’s decision to pull British diplomats out of meetings in Brussels early. The prime minister announced earlier this month that the UK would stop participating in EU meetings, in an attempt to signal to Brexiteers that he was serious about leaving the bloc at the ... Read More »