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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

Czech gov’t foiled Korean arms smuggling plot, intelligence service says

The Czech intelligence services foiled a North Korean attempt to smuggle arms through the country, the country’s Security Information Service (BIS) and local media reports indicated this week. In a plot reportedly uncovered in 2012 and 2013 and uncovered by Slovakian outlet Deník N, a North Korean diplomat working as an economic attaché in Germany contacted a local businessman asking ... Read More »

Longest smuggling tunnel, larger than 14 football fields, discovered on US-Mexico border

The longest smuggling tunnel has been discovered by the US authorities on the Southwest border, which stretches more than three-quarters of a mile from an industrial site in Tijuana, Mexico, to the San Diego area. The tunnel, discovered Wednesday, featured an extensive rail cart system, forced air ventilation, high voltage electrical cables and panels, an elevator at the tunnel entrance ... Read More »

Massmart warns of almost R1.4bn loss as SA consumers struggle

Walmart-owned retailer Massmart, whose brands include Makro and Game, warned on Thursday it had swung into a loss in its year to end-December, as SA’s consumers cut back on higher-margin durable goods such as kitchenware and electronics. In addition to trading disruptions caused by “aggressive” load-shedding in early December, consumers continued to prioritise spending on non-durables, such as food, the ... Read More »

Over 900 Kilos Of Cocaine Found In Banana Shipment

Customs officers at the port of Vlissingen intercepted 921 kilograms of cocaine. The drugs were hidden in a container of bananas that came from Ecuador, the police said in a statement. The drugs were discovered with a mobile scan. The police seized and destroyed the cocaine. So far no arrests were made. The police are investigating. It’s the second large ... Read More »

Chinese beef importers seek to renegotiate prices for Brazilian shipments: report

Chinese beef importers are seeking to renegotiate prices previously agreed when they closed deals to buy dozens of shipments from Brazil because values are too high, according to a report in the online edition of a local newspaper on Monday. The website of Folha de S.Paulo reported that some Chinese importers are refusing to pay for shipments that already arrived ... Read More »

Toyota makes new $394 million bet on flying taxis

Toyota Motor Co. is investing $394 million (¥43.3 billion) in Joby Aviation, one of a handful of companies working toward the seemingly implausible goal of making electric air taxis that shuttle people over gridlocked highways and city streets. Toyota is the lead investor in Joby’s $590 million Series C funding, alongside Baillie Gifford and Global Oryx and prior backers Intel ... Read More »

Bank cuts Thai 2020 GDP growth outlook to 2.7%

SCB’s Economic Intelligence Center (EIC) has released its latest forecast, indicating that the Thai economy at the end of 2020 will have grown by 2.7 percent, showing a s recovery from just 2.5 percent economic growth in 2019, thanks to a better performing export sector and improved global economy. Earlier this week the World Bank also downgraded Thailand’s economic growth ... Read More »

Stockmann issues positive profit warning, sending shares over 30% higher

CLASS-B SHARES in Stockmann jumped by more than 30 per cent yesterday after a positive profit warning issued by the iconic department store chain. The Finnish retailer revealed yesterday morning that, based on preliminary data, it expects its adjusted operating profit for last year to exceed earlier forecasts due to the robust fourth-quarter performance of both Stockmann and Lindex. The ... Read More »

Real Estate Prices in Greek Cities Soar in 2019

The real estate market in Greece’s largest cities recorded an impressive increase in the price of sales and rentals in 2019, according to the accumulative data published by Spitogatos, one of the country’s largest real estate websites. The marked uptick in both rental and sales prices made the Greek real estate sector one of the fastest-growing markets in the entire ... Read More »

Banker fined $58 million for smuggling Picasso painting out of Spain

MADRID: An 83-year-old former Spanish bank chairman was fined 52 million euros ($58 million) on Thursday after being convicted of smuggling a Pablo Picasso painting abroad after it was designated a national treasure. Jaime Botin, 83, ex-chairman of Bankinter, was also given an 18-month prison term but he is unlikely to serve it due to his advanced age and his ... Read More »

Oman crude oil price continues to hold steady around $65 per barrel

Muscat: The price of Oman crude oil continue to hover around $65 per barrel, according to the Dubai Mercantile Exchange. According to a statement from DME, “The marker price on January 15 for March 2020’s Oman crude oil futures contract (OQD) is $65.23, with a change of $0.05.” The price of Oman crude had stayed around the same on January ... Read More »

Mega Bank’s financial literacy programme

KATHMANDU: Mega Bank has conducted a financial literacy programme for the Nepali Army in Surkhet district. The one-day training was conducted by Mega Bank’s Manager of Surkhet Branch Bikram Thapa, wherein he discussed secured savings, how to invest in productive sectors, family budget, risk reduction, along with various savings and credit schemes of the bank, as per a media release. ... Read More »

Proposed Kuwait metro to stretch over 160 kms, host 68 stations

Kuwait’s Public Authority for Roads and Transport (PART), announced its plans for new construction projects that include features of the to-be-constructed metro project, Kuwait Times reported. The metropolitan rapid transit system project (KMRT) is to be built across five phases, and will spread over 160 kilometers, with 68 stations along three lines, according to the plan, a statement said. The ... Read More »

Institute of Internal Auditors hold workshop on ‘systems thinking’

The Institute of the Internal Auditors (IIA), Doha Chapter, conducted a workshop on “Systems thinking: The power of data-driven organisation” at Hotel Oryx Rotana Doha recently. Systems thinking is a holistic approach to analysis that focuses on the way that a system’s constituent parts interrelate and how systems work overtime and within the context of larger systems. Dr Hisham Abu-Naba’a, ... Read More »

Iraq a “Potentially Vulnerable” Energy Supplier

The International Energy Agency (IEA) has warned that Iraq is a “potentially vulnerable” energy supplier. In its Oil Market Report, it says that in the medium term, “heightened security concerns might make it more difficult for Iraq to build production capacity“. Read More »

Payout for Musk as Tesla value tops $100 billion

Tesla’s market value hit $100 billion for the first time triggering a payout plan that could be worth billions for Elon Musk, founder and chief of the electric carmaker. Shares in Tesla rose some 6 per cent in early trade to lift the value of the fast-growing maker of electric vehicles to around $105 billion. Under a compensation plan approved ... Read More »

Afghan Parliament Approves 2020 Fiscal Year’s Budget

The Afghan parliament approved the coming fiscal year’s budget plan. It gained a majority of votes just ahead of the winter recess. The budget totals 428 billion Afghanis, with 289 billion Afghanis allocated for the “ordinary” budget and 139 billion Afghanis for development. The budget plan was previously rejected by the MPs who asked the Finance Ministry to bring balance ... Read More »

Taiwan’s minister of economic affairs discloses priorities

TAIPEI: Minister of Economic Affairs Shen Jong-chin (沈榮津) said that his work priorities for this year are to facilitate investment by reshoring Taiwanese businesses and to increase job opportunities for the people, CNA reported. The total investment in Taiwan by reshoring businesses has reached NT$800 billion (about US$26.5 billion), the minister noted. Speaking to Taiwan’s industrial strength, Shen said that ... Read More »

Portugal mandates banks for new 10-year bond sale – lead manager

Portugal will launch a new 10-year benchmark government bond via a syndicate of banks in the near future, market conditions permitting, a lead manager said on Tuesday. The sovereign has mandated Citi, Deutsche Bank, Goldman Sachs, HSBC, J.P. Morgan and Novo Banco to lead manage the sale of the new 10-year Portuguese government bond maturing on 18 October 2030, one ... Read More »

Polish border guards detain two Ukrainians for amber smuggling

Poland’s border guards have detained two Ukrainian citizens who attempted to smuggle a large batch of amber into Poland. More than 103 kilograms of amber worth about EUR 50,000 and 4,000 packs of cigarettes worth EUR 13,000 have been seized, the Ukrainian-language service of Germany’s Deutsche Welle (DW) wrote on December 14, referring to the Polish Border Guard. Perpetrators, who ... Read More »