Latest news with #SaudiRiyal
India Gazette
3 days ago
- India Gazette
Mumbai Customs seize foreign currency of 50000 Saudi Riyal, diamond from passenger departing to Dubai
Mumbai (Maharashtra) [India], June 19 (ANI): Mumbai Customs of Chhatrapati Shivaji Maharaj International Airport (CSMI) Airport seized foreign currency of 50000 Saudi Riyal (SAR) and diamond valued Rs 1,70,94,900 concealed inside handbag and body cavity from passenger departing to Dubai. In a post on X, Mumbai Customs shared, 'Based on specific intel, Customs officers at CSMIA, Mumbai Customs Zone-III seized foreign currency of 50000 SAR and diamond weighing 652.20 Dia. Wt. Cts valued Rs 1,70,94,900/- concealed inside handbag and body cavity from pax departing to Dubai. Further investigation underway.' In another incident Customs officers at CSMI Airport, nabbed 2 Indian nationals with 24.96 Kg of hydroponic weed worth Rs 24.96 Crores from Thailand on Wednesday. In a post on X, Mumbai Customs shared, 'In a major drug bust, CSMI Airport, Mumbai Customs Zone-III, on 18.06.25, nabbed 2 Indian nationals with 24.96 Kg of hydroponic weed worth Rs. 24.96Cr from Thailand. Swift follow-up operation resulted in the arrest of intended recipient. Further investigation is underway.' On June 10, officers of the Airport Special Cargo , Mumbai Customs - Zone III, interdicted and seized 489 grams of cocaine, from consignment declared as 'Artificial Flowers & Cards.' So far 2 persons including one foreign national has been arrested, Mumbai Customs shared in a post on X. Earlier in April, Customs officers of CSMI Airport, Mumbai, seized suspected cocaine worth around Rs 17.89 Crore and one passenger was arrested in the case, according to the press release. 'On April 1, based on spot profiling, one passenger who arrived from Nairobi to Mumbai via Doha was intercepted by the Customs Officers at CSMI Airport. During the detailed examination of the baggage, white coloured powdered substance purported to be Cocaine having a net weight of 1789 Grams approximately valued at Rs 17,89,00,000 was recovered from the false cavity of the trolley bag carried by her. The said passenger was arrested under the Provisions of the NDPS Act, 1985,' said official in a press release. (ANI)
Indian Express
3 days ago
- Indian Express
Weed worth Rs 24.6 crore, diamonds and foreign currency seized at airport; 4 held
The Mumbai Customs arrested four people and seized narcotics, diamonds and foreign currency from them in two separate operations at the Mumbai international airport on Tuesday and Wednesday, officials said. According to the officials, the air intelligence unit intercepted two passengers arriving from Bangkok on Wednesday and an examination of their luggage revealed 24.96 kilograms of hydroponic weed worth Rs 24.66 crore in the illicit market. The narcotics was smuggled from Thailand concealed in vacuum-sealed packages, they said. The intended receiver, who was waiting to collect the consignment near the airport gate, was also arrested. An official said that preliminary investigations suggest the involvement of an international drug trafficking syndicate, with further investigation underway. In an operation on Tuesday, Customs officials intercepted an Indian national who was flying to Dubai from Mumbai airport on the basis of specific intelligence. On examination of baggage and personal search of the passenger, officials recovered Saudi Riyal equivalent to Rs 11,15,000, lab-grown diamonds weighing 406.90 carats worth over Rs 47 lakh and natural diamonds weighing 245.30 carats valued at Rs 1.23 crore. The foreign currency was found concealed in a sling bag of the passenger, while diamonds were concealed in three pouches in the body cavity of the passenger. Further investigation is underway, an official added. When taking diamonds to another country, the same has to be declared to the Customs of both countries and a certain duty has to be paid.
Business Recorder
6 days ago
- Business
- Business Recorder
0.28pc decline
KARACHI: Rupee weakened during the previous week as it depreciated Re0.79 or 0.28% against the US dollar. The local unit closed at 282.96, against 282.17 it had closed the week earlier against the greenback, according to the State Bank of Pakistan (SBP). Finance Minister Muhammad Aurangzeb announced Pakistan's federal budget 2025-26 'for a competitive economy', targeting a modest 4.2% growth for the coming fiscal year, compared to 2.7% expected in the outgoing FY25. Meanwhile, the inflow of overseas workers' remittances into Pakistan stood at $3.7 billion in May 2025, SBP data showed. Remittances increased by 13.7% year over year, compared to $3.24 billion recorded in the same month last year. Foreign exchange reserves held by the SBP increased by $167 million on a weekly basis, clocking in at $11.68 billion as of June 6. Total liquid foreign reserves held by the country stood at $16.88 billion. Net foreign reserves held by commercial banks stood at $5.12 billion. The Monetary Policy Committee (MPC) of SBP will meet on Monday (today) to decide on the policy rate. The SBP said it would issue the Monetary Policy Statement through a press release on the same day. Open-market rates In the open market, the PKR lost 98 paise for buying and 72 paise for selling against USD, closing at 283.32 and 285.12, respectively. Against Euro, the PKR lost 3.92 rupees for buying and 3.90 rupees for selling, closing at 324.87 and 328.57, respectively. Against UAE Dirham, the PKR lost 31 paise for buying and 27 paise for selling, closing at 76.95 and 77.72, respectively. Against Saudi Riyal, the PKR lost 41 paise for buying and 32 paise for selling, closing at 75.21 and 75.93, respectively. ========================================= THE RUPEE ========================================= Weekly inter-bank market rates for dollar ========================================= Bid Close Rs. 282.96 Offer Close Rs. 283.16 Bid Open Rs. 282.17 Offer Open Rs. 282.37 ========================================= Weekly open-market rates for dollar ========================================= Bid Close Rs. 283.32 Offer Close Rs. 285.12 Bid Open Rs. 282.34 Offer Open Rs. 284.40 ========================================= Copyright Business Recorder, 2025
Yahoo
11-06-2025
- Business
- Yahoo
DHL Makes $570 Million Splash in the Middle East
DHL Group will invest more than 500 million euros ($574.5 million) in the Middle East through 2030, namely two of its fastest-growing markets: Saudi Arabia and the United Arab Emirates (UAE). With the investment, all four of the logistics giant's global divisions—DHL Express, DHL Global Forwarding, DHL Supply Chain and DHL eCommerce—will build on their infrastructure in the region as the two markets continue to accelerate their push into international trade and move their economies away from oil dependence. More from Sourcing Journal Trump Doubles Duties on Metals, Judge Dismisses California's Tariff Lawsuit Canada Post Denies Union's Request to Settle New Deal Via Arbitration Global Economic Growth Will Be Blunted By US Tariffs, OECD Says Saudi Arabia's non-oil exports reached an unprecedented 515 billion Saudi Riyal ($137 billion) in 2024, marking the highest value in the kingdom's history. These exports expanded 13 percent last year, and more than doubled (113 percent) since the launch of Saudi Arabia's Vision 2030 economic development program. The UAE saw even larger trade expansion over the past year, with non-oil exports growing 28 percent year over year to 561.2 billion dirhams ($153.8 billion). Investments for the DHL Express segment will be made in hub and gateway facilities, as well as enhancing aviation capacity to improve service efficiency and delivery speed. DHL Global Forwarding will expand its overall presence in the Middle East, invest in fleet of aircraft and trucks and pursue joint venture initiatives such as its recent partnership with Etihad Rail. For DHL Supply Chain, there will be an expansion of the contract logistics offering in both the UAE and Saudi Arabia, which includes increasing warehousing capacity, upgrading equipment and integrating advanced technology to optimize operations. DHL eCommerce entered the Saudi Arabian market in February by acquiring a minority stake in parcel delivery company AJEX Logistics Services, which has a network that includes over 50 facilities and a fleet of more than 900 vehicles. Although the company is penetrating a region known largely for its oil production, DHL emphasized its commitment to sustainability, including investments in alternative fuel, electric delivery vehicles, aviation fuels in air freight and biofuels for road and ocean freight, as well as solar energy and clean power for facilities. The commitment is aimed at building more sustainable supply chains, and helping customers achieve their net-zero ambitions. Both Saudi Arabia and the UAE have net-zero emissions goals for 2060 and 2050, respectively. Ahead of the investment, DHL's separate divisions already provided various logistics and transportation services to Middle Eastern customers, including express parcel delivery, air, ocean and overland freight, warehousing, fulfilment and distribution, and customs brokerage operations. As DHL expands its sphere of influence worldwide, the logistics giant is busy integrating another pivotal acquisition in the U.K. market. Last month, the company's DHL eCommerce U.K. branch merged with Evri after DHL Group acquired a minority stake in the parcel delivery company. The merged Evri business is anticipated to deliver over 1 billion parcels and a further 1 billion business letters annually. Evri's partners include U.K. retailers like Next, John Lewis and Marks & Spencer, as well as Etsy. The combined group will consist of 30,000 couriers and van drivers, another 12,000 workers and a fleet of 8,000 vehicles. With the deal, Evri says it plans on hiring 5,000 more couriers for the summer season, with 1,000 expected to be permanent jobs. Evri intends to expand its own international network for inbound and outbound parcels by leveraging DHL's cross-border parcel shipping expertise, alongside the company's global network of nearly 150,000 'out-of-home' global access points in shops and lockers. This includes access to Europe, the U.S. and select Asian markets such as India, and will mean faster transit times, the companies said. The partnership will incorporate DHL's UK Mail offering, entering Evri into the business letter market for the first time. DHL's other U.K. segments, including DHL Express, DHL Supply Chain and DHL Global Forwarding, are unaffected by the transaction. Evri will continue to be majority owned by Apollo Global Management, which acquired the company for a reported $3.5 billion last year. On Wednesday, the U.K.'s antitrust regulator, the Competition and Markets Authority (CMA), opened a probe into the merger. The CMA issued the inquiry into the deal with an invitation for interested parties to submit their comments on the deal June 25. After this, the CMA will formally launch its investigation. The agency is also probing GXO's $935 million acquisition of U.K. logistics provider Wincanton, with the regulatory body saying in February that the deal likely lessens competition in the supply of warehousing services to the country's grocers.
Time of India
02-06-2025
- Time of India
Businessman robbed of 7L at knifepoint on exp train
Mumbai: A 36-year-old businessman and his family were robbed at knifepoint on the Bandra-Jaipur Express while heading home to Mumbai. The businessman and his wife fought off the thieves and grabbed two bags from them. Their jewellery, cash and Saudi Riyal, of a collective value of Rs 7 lakh has been stolen. The complainant's wife and two children had boarded the train on Friday. On Saturday, as the train was passing Malad station, a co-traveller suggested to the woman that she move her luggage near the door to prepare to alight. With the help of this co-traveller, the couple moved their four trolley bags and a cardboard carton close to the door. Soon, three other men came up. The complainant found it strange that the four men were now surrounding his luggage. He casually asked if they intended to steal anything. At this, the co-traveller brandished a knife and threatened the man to step aside if he cared for his life. The businessman raised an alarm, which resulted in his wife rushing out towards the door. The businessman pounced on the co-traveller. As the train slowed down between Goregaon and Jogeshwari stations, the co-traveller managed to free himself and jumped off the train. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 2025 Top Trending local enterprise accounting software [Click Here] Esseps Learn More Undo Two of his accomplices also jumped off from either door, while the complainant and his wife were trying to grab them. The couple managed to retrieve two bags that these men had taken from them. Their fourth accomplice fled into another coach. The couple later told the police that Rs 1.5 lakh in cash, a gold necklace and 4,500 Riyals had been robbed by the gang..
