Cargo operations at Chinese airports hit break-point; freight rates slump
Airfreight demand out of China was lower than expected this week but it started to drop soon after the Golden Week holidays. It was a terrifying time for forwarders before the China holidays and soon after. Empty freighters, canceled charter contracts, missed flights and stricter PPE quality inspections also saw a reduction in demand for shipping PPE. Demand for air freight was lower than expected due to shippers holding...
Read MoreSolutions should prioritize maintaining industrial production: ministry
HÀ NỘI — The Ministry of Industry and Trade said that the most important priority at present was to maintain the operation of domestic industrial enterprises during the novel coronavirus (COVID-19) pandemic. The pandemic has caused a lot of difficulties for enterprises in Việt Nam, especially industrial enterprises. If an enterprise is closed due the pandemic, its workers lose their jobs and it has negative impacts on other businesses in the supply...
Read MoreCustoms department rolls-out machine-based clearance of imported goods
In a bid to crack into the top 50 position in Trading Across Borders as part of the World Bank’s ease of doing business, the Central Board of Indirect Taxes and Customs (CBIC) has introduced machine-based automated clearance of imported goods. The new initiative is being piloted at Jawaharlal Nehru Port Trust (JNPT) and Chennai Port Trust from February 6 whereby the Customs officer will be able to do...
Read MoreCameroon slaps VAT on e-commerce trade
By Amindeh Blaise Atabong Jan 14 2020 / itwebafrica The sale of goods and services in Cameroon via local or foreign e-commerce platforms will be liable to Value-Added Tax (VAT) of 19.25%. This is according to recently introduced legislation, the 2020 Finance Law of Cameroon which came into effect in late 2019. According to the new legislation, operators of e-commerce platforms, on behalf of suppliers, will have to calculate,...
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WiseTech continues expansion with SISA acquisition
By Damian Brett Jan 8 2020 / Air Cargo News Fast expanding supply chain software firm WiseTech Global has acquired SISA Studio Informatica, a customs and freight forwarding solutions provider in Switzerland. SISA provides solutions covering customs clearance, freight forwarding and bonded warehouse management. Its customers include DHL Logistics (Schweiz), Fiege Logistik (Schweiz), FedEx, Post CH, Agility Logistics, F. Hoffmann-La Roche, and other exporters, freight forwarders, and logistics service...
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OFAC Enforcement Action against U.S. Aviation Company Shows the Importance of Ongoing Monitoring over the Course of a Contractual Relationship
Dec 9 2019 / Lexology Sanctions Contractual Provisions Were Insufficient to Avoid OFAC Liability On November 7, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a $210,600 settlement agreement with Florida-based Apollo Aviation Group, LLC (“Apollo Aviation”) to resolve 12 apparent violations of OFAC’s Sudan Sanctions Regulations (“SSR”).[1] OFAC determined that Apollo Aviation had leased three aircraft engines to a UAE company that...
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JD com : Agility and JD Logistics Expand E-Commerce Ties
Nov 29 2019 / Daily Stock Dish Agility and JD Logistics Expand E-Commerce Ties Agility, a leading global logistics provider, together with its digital innovation arm, Shipa, has signed a memorandum of understanding with JD Logistics, an independent business group under JD, China‘s largest retailer, to collaborate on logistics in fast-growing e-commerce markets. JD Logistics is the operator of China‘s largest B2C e-commerce fulfillment network. Agility and JD Logistics...
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First batch of rough diamonds subject to Kimberley Process enters Macau
Nov 29 2019 / MacauHub he first batch of rough diamonds subject to supervision and control by the Kimberley Process Certification Scheme (KPCS) arrived in Macau on Thursday, after customs clearance and verification of the respective certificate, the Economic Bureau (DSE) said. Law No. 15/2019 on the application of the Kimberley Process Certification Scheme for international trade in rough diamonds came into force in the Macau Special Administrative Region...
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OFAC Settlement With Aviation Company Stresses End Use Verification
By Staff Writer Nov 21 2109 / The Export Compliance Journal The Office of Foreign Assets Control (OFAC) recently announced that it has reached a settlement with the Apollo Aviation Group. This story began when the Apollo Aviation Group, between 2013 and 2015, leased three of their aircraft engines to an entity incorporated in the United Arab Emirates (UAE). That seemingly innocent transaction turned complicated when the lessee proceeded...
Read MoreCMTA seeks firm actions from govt. against alleged Rs.160mn vehicle import duty fraud
Nov 19 2019 / Daily Mirror The Ceylon Motor Traders Association (CMTA) seeks firm legal actions from the Sri Lanka Customs (SLC) and Finance Ministry against an alleged Rs.160 million import duty fraud committed in importing 13 Audi A5 motor vehicles by a particular vehicle importer. Issuing a statement to the media yesterday, the CMTA revealed that the organisation was made aware that 13 units of Audi A5 motor...
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