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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

Shippers see temporary lull in exports

Shippers expect the coronavirus outbreak to have the greatest effect on farm product exports, notably fresh fruits and vegetables, with an impact also seen on imports of raw materials to make certain finished products like automotive tyres and face masks. The Thai National Shippers’ Council estimates the outbreak to hit exports of Thai products bound for China to the tune ... Read More »

Toyota SA to invest over R4 billion in car assembly and parts

Toyota SA Motors (TSAM) has announced a R4.28bn investment in local vehicle assembly and parts supply. Speaking at the company’s annual State Of the Motor Industry address at Kyalami on Thursday, president and CEO Andrew Kirby said the lion’s share of R2.43bn would go towards the production of a new passenger-car model from October 2021 at the Prospecton plant in ... Read More »

Over 80 Kilos Cocaine Found On Dutch Plane In Argentina; Three Dutch Arrested

More than 80 kilograms of cocaine was found on a Martinair Cargo plane in Argentina. Seven men, three of whom are Dutch, were arrested, including the plane’s pilot and some crew members, RTL Nieuws reports. The plane was at the Ezeiza International Airport near Buenos Aires when the drugs were discovered. Local media report that the discovery was made shortly ... Read More »

Solar installs in Europe jump by 88% in 2019 – IHS Markit

Europe added roughly 23 GW of new solar power generation capacity in 2019, up 88% year-on-year, according to preliminary calculations by IHS Markit. The continent’s share of global installations is expected to arrive at 18%, up by six percentage points from 2018. The near doubling of capacity additions was the result of a combination of favourable macro conditions, including a ... Read More »

Oman’s budget deficit falls by 1%

Muscat: The Sultanate’s budget deficit fell 1 per cent to OMR1,896.8 million till the end. The budget deficit for the same period of 2018 was at OMR1,878.4 million, according to the latest data released by the National Centre for Statistics and Information (NCSI). The total revenue of the Oman government fell 2.3 per cent to OMR9,463.4 million for the first ... Read More »

US-Iran Conflict May Disrupt Nepal Economy

The assassination of the Iranian Major General Soleimani by US forces has escalated tensions, globally. Significantly, the incident is expected to have grave repercussions on the economy of South Asian countries like Nepal. Nepal is one of the prominent countries highly dependent on remittances from the Gulf. Around 1.5 million Nepalis are working in the Gulf countries. 600,000 in Qatar ... Read More »

Kuwait’s Jazeera Airways inks $1.3 billion engines deal

Kuwait-based Jazeera Airways has signed an agreement with CFM International to support the LEAP-1A engines that power the airline’s fleet of Airbus A320neo aircraft. The agreement, which is valued at $1.3 billion, covers a minimum of 20 aircraft and five spare engines, with the option of including additional aircraft as Jazeera Airways continues to expand its fleet. Under the terms ... Read More »

QNB’s brand value rises nearly 20% year-on-year to $6.03 billion in 2020

QNB’s brand value has risen nearly 20% year-on-year to $6.03bn in 2020, putting it in a strong position to continue to drive growth in Southeast Asia. QNB’s brand strength index (BSI) also increased to 82 out of 100, up from 79 in 2019, aided by strong financial performance and growing international footprint. “This year’s impressive improvement in brand value and ... Read More »

Canada contributes $15m for Iraqi Women

The Canadian Department of Foreign Affairs, Trade and Development (DFATD) has contributed CAD 20 million ($15 million) in support of UNFPA’s humanitarian response focusing on life-saving assistance aimed at alleviating the suffering of women and girls across Iraq. The three-year contribution will support UNFPA works in providing emergency obstetric care, and sexual and reproductive health services, in ensuring protection from ... Read More »

Arab Bank Group reports net profits of $846.5 million for 2019

AMMAN: The Arab Bank Group closed 2019 with a net income of $846.5 million after tax compared with $820.5 million in 2018, recording a growth of 3.2 per cent. Net income before tax grew to reach $1.15 billion compared with $1.12 billion in 2018, while its equity grew to reach $9.102 billion with a return on equity of 9.3 per ... Read More »

Afghanistan’s Economic Growth Expected To Reach 3.3% In 2020

According to a World Bank report, Afghanistan’s economy has grown by 2.9% in 2019 and is expected to reach 3.3% in 2020. “Navigating a Sea of Uncertainty”, the latest edition of the twice-a-year Afghanistan Development Update examines recent key economic developments and focuses on the impacts of current uncertainties around the outcome of the September 2019 presidential election, levels of ... Read More »

Taiwan to spend NT$200 million and ramp up mask production to 10 million a day

TAIPEI: As the Wuhan coronavirus epidemic continues to escalate around the world, Taiwan Premier Su Tseng-chang (蘇貞昌) has decided to speed up production of surgical and N95 masks to 10 million a day in five weeks. Despite the announcement of a month-long export ban on surgical and N95 masks and the fact that local mask manufacturers can produce 4 million ... Read More »

Poland signs F-35 contract worth $4.6 billion

Poland has signed a $4.6 billion contract to purchase 32 Lockheed Martin F-35As, with deliveries to start in 2024. Signed on 31 January at the Polish air force academy in Deblin, the deal also includes a training package and logistics support services. To be produced in the F-35’s Block 4 configuration, the Polish aircraft will be equipped with electronic warfare ... Read More »

Central bank destroys 8,923 counterfeit banknotes

Banco de Portugal (BoP) withdrew 8,923 counterfeit banknotes from circulation in the second half of the year, 1,496 more than in the first half. According to a statement published on its website, however, the central bank pointed out that the number of counterfeit banknotes seized is negligible in relation to the number of banknotes in circulation. 3,279 €20 notes, 3,228 ... Read More »

China’s travel restrictions already being felt in Finnish Lapland

THE TOURISM INDUSTRY in Finnish Lapland is already feeling the effects of the ban on overseas tour groups and sales of flight-and-hotel packages adopted on Monday by China. “The information we received today indicates that around 45 groups of Chinese visitors – altogether around 1,000 people – have cancelled their trip or are postponing it until August. Each group consists ... Read More »

Fitch officials project bright future for Greece

Senior Fitch Ratings officials have expressed their optimism in comments to Kathimerini about Greece’s fundamentals in 2020, just a few days after the agency upgraded the country’s credit rating one notch, and offered a roadmap out of “junk” territory. Michele Napolitano, senior director and head of Western Europe Sovereigns at Fitch visited Athens last week for the company’s conference on ... Read More »

Turkish president to attend meeting with Ukraine

Turkey’s president will attend the eighth meeting of a high-level strategic council with Ukraine in its capital Kiev. The Turkish Communications Directorate on Sunday announced that bilateral and regional issues would be discussed during the meeting between relevant ministers under President Recep Tayyip Erdogan and his Ukrainian counterpart Volodymyr Zelensky. During the meeting, the condition of Ukraine’s Crimean Tatars will ... Read More »

Large-cap firms report at least VNĐ3 trillion in 2019 pre-tax profit

HÀ NỘI: Most large-cap firms have released full-year earnings reports for 2019 with 29 companies reporting a pre-tax profit of more than VNĐ3 trillion (roughly US$130 million). Total pre-tax profit of the 29 companies is roughly VNĐ255 trillion, up 21 per cent year on year. Industrial park developer Becamex IDC (UPCoM: BCM) was the lowest earner. The company recorded VNĐ3 ... Read More »

Italy must strengthen its capital markets: OECD

Italy must improve its capital markets to help underperforming companies access funding for investment and growth, while giving investors means for more diversified savings portfolios, the OECD said. In a review of the capital markets of the eurozone’s third-largest economy, the Organisation for Economic Co-operation and Development said Italian companies were deprived of needed funding for long-term projects and planning, ... Read More »

Norwegian police raid shipping company office over waste export

Norway’s national economic crime unit raided the local office of international shipping company Teekay Offshore this week on suspicion of illegally exporting waste, the agency, known as Okokrim, said. In recent years, courts in Europe using tougher regulations have fined shipping companies for transporting hazardous waste for disposal in cases that have added to complexities for seaborne transporters often operating ... Read More »