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TAITRA aims Qatar, Kuwait, Iran for trade opportunities

TEHRAN: Commissioned by the Ministry of Economic Affairs, the Taiwan External Trade Development council (TAITRA) is leading a trade delegation of 26 well-established Taiwanese suppliers representing various industries who are in Kuwait until November 2, 2015. The purpose of this visit is to facilitate business cooperation between the 26 Taiwanese delegates and their counterparts in Kuwait. This upcoming trip also ... Read More »

ANF seizes Rs103m drugs in different raids

ISLAMABAD: The Anti-Narcotic Force (ANF) has seized Rs103 million worth of drugs, including 12.6kg heroin, 10kg hashish and 450 gram amphetamine, in various operations launched in different parts of the country, while apprehended 10 offenders involved in drug trafficking. An ANF team at Benazir Bhutto International Airport Islamabad, in collaboration with Airport Security Force (ASF), detained a suspected passenger identified as ... Read More »

Multan Customs seizes smuggled goods worth Rs30m

MULTAN: Customs Intelligence and Investigations (I&I) Multan has seized two truckloads of smuggled items near Sakhi Sarwar area of district Dera Ghazi Khan, officials said Monday. Customs officials said that the trucks were caught late last night and tyres, welding rods and different auto parts were recovered during the search. Both the trucks, their drivers and helpers were given in ... Read More »

Gepco’s “Enterprises Resource System Upgradation Program” lying in doldrums

SIALKOT: The Gepco’s multi-phased “Enterprises Resource System Upgradation Program” had been lying in doldrums, as it has not yet been started and waiting for urgent “go ahead”. Gepco had announced this program several years ago to computerize all the data of Gepco employees and consumers besides putting  all the Gepco development projects online, with an estimate cost of Rs. 600 ... Read More »

Chinese Customs seizes 520,000 bottles of Cognac

BEIJING: Customs officials have seized 520,000 bottles of Cognac, worth an estimated 400 million yuan (£41m), imported illegally into China’s mainland. 2011-07-01-LouisRoyerX0Police discovered half a million bottles of Cognac, which filled seven trucks, and arrested four suspected smugglers following a raid at a warehouse in Shenzhen in April. An investigation into the company was first launched in January, but officials ... Read More »

Chinese brokerages profit rise 210.2% to $20bn in Jan-Sept

BEIJING: Chinese brokerage firms posted big profits in the first nine months of 2015, boosted by easing measures. Combined net profits of 24 listed firms surged 210.2 percent year on year to 130.72 billion yuan (US$20 billion) in the first three quarters, data from the Shanghai and Shenzhen bourses showed. The aggregate revenues of these firms rose 161.4 percent to ... Read More »

China’s non-manufacturing activity falls to 53.1% in Oct

BEIJING: China’s non-manufacturing activity contracted in October as business growth in the wholesale, capital market and repairing sectors slowed due to the week-long National Day holiday from Oct. 1, an official monthly survey showed Sunday. The purchasing managers’ index (PMI) for the non-manufacturing sector stayed at 53.1 in October, 0.3 percentage point down from September, according to a report released ... Read More »

ICBC posts net profits of $34.96bn in Jan-Sept

BEIJING: State-owned Industrial and Commercial Bank of China (ICBC), the country’s largest bank, reported a 0.65 percent year-on-year increase in net profits in the first three quarters of 2015. The figure narrowed from a 0.7 percent year-on-year increase in the first half of 2015. Net profits stood at around 222.3 billion yuan ($34.96 billion) in the first nine months, the ... Read More »

BOC nets highest profit growth among the ‘Big Four’ banks

BEIJING: Bank of China (BOC) reported the highest profit growth in the first three quarters this year among the country’s top four State-owned banks. The “Big Four”- Industrial Commercial Bank of China (ICBC), Agricultural Bank of China (ABC), China Construction Bank (CCB) and BOC – saw their profit grow by 0.65, 0.57, 0.73 and 0.79 percent respectively year-on-year in the ... Read More »

China aiming to maintain GDP growth at 6.5 to 7% through 2020

BEIJING: China is aiming to maintain an average annual GDP growth rate of 6.5 to 7 percent until 2020, without aggressive stimulus or blind expansion of investment, said Vice-Premier Zhang Gaoli on Sunday. “If China can successfully achieve the 13th Five-Year Plan (2016-20), we will avoid the middle-income trap, which will be a miracle in the world’s development history,” said ... Read More »

China inks 17 deals with Korea to boost economic partnership

BEIJING: China and the Republic of Korea moved toward a closer economic partnership with deals to synchronize development strategies and speed up the ratification of a bilateral free trade agreement. The two sides agreed on Saturday to launch a direct transaction market for their currencies in Shanghai, according to a statement released by the People’s Bank of China. China also ... Read More »

China’s factory PMI stands at 49.8 in Oct

BEIJING: China’s factory activity held steady in October as the country’s manufacturing sector saw improved but still weak demand, official data showed Sunday. The official manufacturing purchasing managers’ index (PMI) came in at 49.8 in October, the same pace as in previous month and lagging market expectations of 50.0, according to data released by the National Bureau of Statistics and ... Read More »

China’s foreign service trade deficit hits to $22.7bn in Sept

BEIJING: China saw a widened deficit in foreign service trade in September compared with August, according to data released Friday by the State Administration of Foreign Exchange (SAFE). The service trade deficit was 144.4 billion yuan ($22.7 billion) in September, expanding from 143.6 billion yuan in August, and 107.6 billion yuan in July, SAFE data showed. Income from trade in ... Read More »

Macau’s first woman Customs chief found dead

MACAU: Macau’s first ever woman customs chief – whose body was found slumped in a public toilet on Friday – had suffered slash wounds to both her wrists and her neck, swallowed sleeping pills and had a plastic bag over her head, it emerged yesterday. The Macau authorities have classified the death of mother-of-two Lai Man Wa as suicide by ... Read More »

Gwadar Collectorate seizes goods worth Rs 28.36m in October 2015

KARACHI: Model Customs Collectorate (MCC) Gwadar has been making all out efforts to ensure smuggling of non-duty paid and contraband items are completely uprooted in the area of its jurisdiction. In order to curb the menace of smuggling, the officers and officials of the Collectorate stay alert 24/7. As a result of this strategy in the month of October, 2015, ... Read More »

Deputy Collector Mueed Kanjo assigned new job at Multan Customs Headquarters

MULTAN: Deputy Collector Model of Customs Collectorate Multan Abdul Mueed Kanjo has been assigned the charge of MCC Multan Headquarters. Collector Sarfraz Ahmad Warriach assigned the new task to Deputy Collector Abdul Mueed Kanjo, MCC Multan Headquarters. Deputy Collector Farhat Ali was performing duties at DC Headquarters before her transfer to Customs Adjudication. Deputy Collector Abdul Mueed Kanjo is also carrying out his ... Read More »

FBR assigns powers to customs chief collectors to transfer BS-17-19 officers

ISLAMABAD: Federal Board of Revenue (FBR) has assigned powers to the chief collectors of Pakistan Customs for transfer and posting of the officers ranking from BS-17 to BS-19. According to the details, FBR has issued a notification, stating that the chief collectors of customs i.e Customs-North, Central, Enforcement and Appraisement will use the powers within their jurisdiction. The notification also ... Read More »

FIA arrests illegal money changer, human trafficker from Gujranwala

SIALKOT: The Federal Investigation Agency (FIA) has registered separate corruption cases against three officials of the Regional Passport Office Gujranwala, as the FIA team has arrested the arrested accused on corruption charges. The FIA has also arrested a money changer Ghulam Abbas for doing illegal business of remittances and money exchange in Daulatnagar-Gujrat during a special raid there. The FIA ... Read More »

RTO Multan suspends performance allowance of three inspectors

MULTAN: The Federal Board of Revenue (FBR) Regional Tax Office Multan has suspended the performance allowance of three inspectors for failing to do the assigned tasks. The Regional Tax Office Multan is observing performance of employees closely in given role from Federal Board of Revenue. Sources told Customs Today that the performance of employees is evaluated in order to accomplish assignments given by ... Read More »

84 Faisalabad Customs officials assigned duties for LB polls

FAISALABAD: In order to conduct the local bodies elections in Faisalabad, at least 84 officials of the Model Customs Collectorate Faisalabad have been assigned duties at different polling stations by keeping them away from the basic anti-smuggling and tax collection duties. The officials, including deputy superintendent, superintendent, inspectors, sepoys and head clerks, performed duties during the LB polls till November 2, 2015. ... Read More »