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Customs Today Issue 10 Sep to 23 Sep 2019

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The $400 billion outdoor industry sounds alarm on Trump’s trade war tariffs

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Representatives from VF Corporation, Columbia Sportswear, Nester Hosiery, and NEMO Equipment met with lawmakers on Capitol Hill this week, letting them know just how hard the U.S.-China trade war is hitting their bottom-line. “We want our message to get across that this is effecting American businesses, American jobs, American innovation and it’s just delaying all of that,” said Katie Kumerow, ... Read More »

Spanish stocks-Factors to watch on Monday

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The following Spanish stocks may be affected by newspaper reports and other factors on Monday. Reuters has not verified the newspaper reports, and cannot vouch for their accuracy: TELEFONICA The Spanish telecom group is considering making a bid for its Brazilian rival Oi and has hired an investment bank to advise it on buying some or all of the company, ... Read More »

LOT launches new marketing campaign in Hungary

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The Polish carrier offers flights to 12 destinations from the Hungarian capital, including long-haul connections with the United States and South Korea. The first edition of the airlineʼs “Be Our Guest” campaign, recognized with the Effie award, focused on showcasing the professionalism of LOT crews, attaching great attention to the safety, comfort and convenience of passengers during the flight. In ... Read More »

Global traders shorting US Dollar, emerging European economies could benefit

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Traders are continuing to short the dollar despite the indications of a rapprochement between the United States and China in their trade dispute. This conflict over trade has had protracted consequences for economies and traders worldwide, but investors now appear to have settled into a pattern of betting against the US dollar. The Federal Reserve’s commitment to cutting interest rates ... Read More »

NRB launches RTGS in banking sector

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Nepal Rastra Bank (NRB) has formally launched real time gross settlement (RTGS) in the country from today. NRB Governor Chiranjibi Nepal and Lord Mayor of London (UK) Peter Estlin jointly inaugurated the high-value cheque payment system in real-time in Nepal amid a function held today. UK Aid is technically supporting Nepal for the launch and implementation of the RTGS in ... Read More »

Kuwait Finance offers to buy Ahli United in $8.8b deal

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Kuwait Finance House KSCP offered to buy Bahrain’s Ahli United Bank BSC in an all-share deal that’s valued at about $8.8 billion. The Kuwaiti lender plans to issue 1 share for every 2.325581 shares of Ahli United, according to a statement. In January, the banks’ advisers had recommended the same swap ratio. The combined entity will potentially become the Gulf’s ... Read More »

Qatar Airways wins global awards for good customer service

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Qatar Airways last Tuesday won major global awards at the 2020 Airline Passenger Experience Association’s (APEX) Passenger Choice Awards in Los Angeles. The airline won three awards for Best Seat Comfort, Best Cabin Service and Best Food & Beverage and was also named ‘2020 Five Star Global Airline’ in the APEX Official Airline Ratings. The Middle East country received thumbs ... Read More »

Saudi-Iraq Border Crossing to reopen in weeks

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Commercial operations at the new Saudi-Iraq Arar Crossing will begin on a trial basis on 15th October. Saudi Arabia’s Ambassador to Iraq, Abdul Aziz Al-Shammari, and Iraqi Ambassador to Riyadh, Qahtan Al-Janabi, made the announcement during a visit to the crossing point. The Saudi town of Arar is 70 kilometers from the Iraqi border. Read More »

Jordan’s trade chamber urges Syria to remove trade obstacles

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The Amman Chamber of Commerce on Sunday called for removing obstacles imposed by the Syrian authorities on Jordanian exports to boost trade exchange between the two countries. In a statement, the chamber said a meeting was held with a delegation from the Damascus Chamber of Commerce to discuss measures to facilitate trade between the two countries. The two sides underlined ... Read More »

Afghanistan Exports Talc to China For First Time Via Hairatan Railroad

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Afghanistan exported 1100 tons of talc to China for the first time from Mazar-e-Sharif through the Hairatan railroad. The goods will arrive in China, crossing Uzbekistan and Kazakhstan, in the next 12 days in 41 wagons, according to Afghan Transport Minister Yama Yari. “The Hairatan port is the start of a new trade season between China and Afghanistan. It has ... Read More »

Taipei mayor asks government to explain stamp tax abolition

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TAIPEI: As the Cabinet decided Thursday (September 12) to abolish the stamp tax, Taipei City Mayor Ko Wen-je (柯文哲) said he could accept the measure if the central government could explain how to replace the NT$4.9 billion (US$158 million) the capital would lose each year. The abolition was designed to simplify the national tax system and was welcomed by business ... Read More »

Finland plans energy tax cut for data centers

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Finland is likely to further strengthen its competitiveness as a location for large data center projects by lowering its energy tax rate in the near future. The tax cut is included in the program of Finland’s recently elected government and is part of a broader tax reform package for industry that will be debated by parliament next year. The new ... Read More »

Foreign Investment in Greek Properties Skyrockets in First Half of 2019

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According to the latest data published recently by the Bank of Greece, the foreign capital flowing into Greece to buy properties during the first six months of 2019 showed a staggering increase of 49 percent compared to the same period in 2018. Last year itself was also a record-breaking one for the purchasing of real estate by foreigners in Greece. ... Read More »

Ukraine to introduce new UAH 1000 banknote in autumn 2019

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The new banknote features a portrait of Ukrainian scientist Volodymyr Vernadskiy, one of the fathers of modern geochemistry and founder of the Ukrainian Academy of Sciences, which appears on the opposite side of the bill. The UAH 1,000 banknote will be the highest value denomination issued by the NBU to date, ending the 13-year reign of the UAH 500 as ... Read More »

Market growth to slow as momentum runs out

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HÀ NỘI — Việt Nam’s benchmark VN-Index has climbed to the highest level in three weeks but analysts have warned positive market sentiment may not last in the coming week. The VN-Index on the Hồ Chí Minh Stock Exchange on Friday gained 1.14 per cent to finish last week at 987.22 points, the highest end since August 23. The VN-Index ... Read More »

This Italian Region Will Pay You $27K to Move There, Open a Business, Live Your Best Life

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If you watched the second season of Master of None and promptly dreamt of devouring homemade pasta and thriving in the Italian countryside, then dream no more. The president of Molise, a duel mountainside and coastal-hugging region east of Rome, wants to invite you to come live there. An added perk? He wants you to open up your own business, ... Read More »

Exxon agrees $4 billion sale of Norway oil and gas assets

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LONDON/ABERDEEN, Scotland: Exxon Mobil (XOM.N) has agreed to sell its Norwegian oil and gas assets for up to $4 billion, ending its production in a country where it started operations more than a century ago, three sources familiar with the matter. U.S. oil major Exxon said in June it was looking to sell its Norwegian upstream portfolio, which comprises minority ... Read More »

Jokowi ready with bold reform agenda to lure foreign investment

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The government is out to streamline its sprawling and infamously complicated regulations, as President Joko “Jokowi” Widodo looks to kick-start his second term with a bold reform agenda. Jokowi has given his ministers a month to identify and revise ministerial regulations deemed harmful to the country’s chances of attracting foreign direct investment (FDI) amid fierce competition from neighboring nations. Furthermore, ... Read More »

Oil prices jump 19% in early morning trading

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Crude oil prices have surged more than 19 per cent after a drone strike on a Saudi Arabian oil facility wiped out about 5 per cent of global supplies. Brent prices jumped as much as $11.73 to $71.95 a barrel in early trading in Singapore. State energy producer Saudi Aramco lost about 5.7 million barrels per day of output after ... Read More »