Saturday , March 25 2017
Breaking News


US squid imports from China hit new high despite 30% price hike


WASHINGTON: The US imported a record amount of squid from China last year, despite ongoing global shortages due to last year’s El Nino, and record high prices. Prices of imported processed loligo from China hit an average $6,020 per metric ton in December of last year, an increase of 28.4% compared with the corresponding period in 2015, according to International ... Read More »

U.S. Customs donates unclaimed clothing to locals in need

us customs

WASHINGTON: U.S. Customs and Border Protection in Savannah is donating 900 cartons of unclaimed clothing left at the port to the United Way of the Coastal Empire. That amount of clothing is valued at $175,000. The clothing will be dispersed to the local Goodwill and Salvation Army, and ultimately, local families in need. The clothing includes leather jackets, coats, and ... Read More »

U.S. crude stockpiles at record high as imports surge

crude stockpiles

WASHINGTON: U.S. crude oil stocks rose to a fresh record last week, the Energy Information Administration said on Wednesday, as a surge in imports and rising domestic production more than offset a hike in refinery runs. Crude stocks in the world’s top oil consumer have been building since the beginning of the year and undermining hopes that an OPEC-led deal ... Read More »

$335k in hard drugs seized by CBP officers


WASHINGTON: A man from Mexico has been arrested after U.S. Customs and Border Protection Officers find more than $335,000 in hard drugs in his car, according to a recent CBP release. Officers discovered the drugs in the 32-year-old’s car after he was pulled for further inspection on March 21 at the Port of Nogales’ DeConcini crossing.  A drug sniffing canine ... Read More »

U.S. trade deficit narrows in Q4


WASHINGTON: The deficit in the broadest measure of U.S. trade shrank in the final three months of 2016 but the gap for the full year rose to the highest level in eight years. The deficit in the current account shrank to $112.4 billion in the fourth quarter, a drop of 3.1 percent from the $116 billion deficit in the third ... Read More »

US investment banks strengthen global lead over Europe


WASHINGTON: JP Morgan retained its place atop the global investment banking league table last year, with the top five places now firmly in the hands of U.S. banks, reflecting their domination over struggling European peers, data on Wednesday showed. JP Morgan’s revenues from trading, mergers and acquisitions and other investment banking activity rose 11 percent to $25.2 billion last year ... Read More »

US digital cognitive fitness revenues to double by 2022


WASHINGTON: The growth rate for Digital Cognitive Fitness products in the US is 17.1% and revenues will more than double to $2.8 billion by 2022, up from the $1.2 billion reached in 2017, according to the new report by Metaari called ” The 2017-2022 U.S. Digital Cognitive Fitness Market.” In general, Digital Cognitive Fitness products can be divided into two ... Read More »

Rural infrastructure drives U.S. economy


WASHINGTON: Rural America is hopeful President Trump’s promised infrastructure improvements begin with the rural roads which carried him to the White House. Past infrastructure spending and stimulus packages have left rural America in the dust, with the primary focus being on improvements to urban and suburban areas, but agricultural and business groups are speaking up and asking an infrastructure improvement ... Read More »

Outlook for US corporate profits dims

net profit decrease

WASHINGTON: The US corporate profit outlook has dimmed in recent weeks, with analysts paring back their forecasts, in a fresh sign of the risks facing the Wall Street rally that has powered equities to record peaks. Earnings for companies listed on the S&P 500 index, the main US stock barometer, are predicted to rise 9 per cent in the first ... Read More »

US budget proposal eliminates climate change initiative


WASHINGTON: In a budget blueprint released on Thursday, U.S. President Donald Trump proposed sweeping cuts to U.S. financial support for the global fight against climate change. The title page called it the “America First” budget. “Our aim is to meet the simple, but crucial demand of our citizens – a Government that puts the needs of its own people first,” ... Read More »

London steroids seized by US customs

us customs

WASHINGTON: Customs and Border Patrol officers at the Blue Water Bridge targeted for examination an express consignment package. The parcel, originating from London and manifested as automotive brake pads, was addressed to a Miami suburb. When the package was inspected, no automotive parts were inside. Instead, officers found 60 vials of yellow liquid wrapped in tin foil and bubble wrap. ... Read More »

Customs agents seize more than $1 mln worth of merchandise violating U.S. trade laws


WASHINGTON: There’s been a surge of seizures at the Port of Tacoma of merchandise that violate U.S. trade laws. U.S. Customs and Border Protection said he recent uptick is because of a nationwide emphasis on trade enforcement. Over the last week, CPB said it has seized an ocean cargo container full of LCD televisions from China. The 2,100 TV’s have ... Read More »

U.S CBP officers at Santa Teresa port seize marijuana

cpb officers

WASHINGTON: U.S. Customs and Border Protection Office of Field Operations officers working at the Santa Teresa port of entry seized more than 52 pounds of marijuana late Tuesday, valued at approximately $40,000. “This seizure was the result of hard work and vigilance by CBP officers utilizing a combination of tools and leveraging their experience to detect a deeply concealed drug ... Read More »

San Luis CBP officers seize $377k in drugs


WASHIONGTON: U.S. Customs and Border Protection officers at Arizona’s Port of San Luis arrested two Mexican nationals after finding a combined 92 pounds of cocaine and methamphetamine during two inspections Monday. Officers searching a Chrysler sedan, driven by an 18-year-old Mexican woman, were led to the rear rocker panels by a CBP narcotics-detection canine. Officers then found 12 pounds of ... Read More »

US inflation and retail sales mostly in line with expectations


WASHINGTON: Inflation and retail sales data for February leave the stage open for the Fed. Most data comes out as expected: core CPI is 2.2% y/y as predicted. Retail sales are up 0.1%, core sales are up 0.2% and the retail control group is up 0.1% a small miss. There are upwards revisions to retail sales numbers. The US dollar ... Read More »

January US petcoke exports fall 5.5% on year to 2.9 mil mt


US petcoke exports totaled 2.9 million mt in January, up 0.5% from December but down 5.5% compared with the year-ago month, according to US Census Bureau data. Non-calcined and calcined petcoke exports stalled as Indian demand remained static and several countries took lower shipments of US petcoke during the month. A notable exception was US exports to China, which totaled ... Read More »

US red meat exports maintain strong pace in Jan


WASHINGTON: January exports of U.S. beef and pork were up significantly year-over-year, maintaining the solid momentum established in fourth quarter 2016, according to statistics released by USDA and compiled by the U.S. Meat Export Federation. Beef exports totaled 96,488 metric tons, up 17 percent from a year ago, valued at $515.5 million—up 18 percent and the highest ever for the ... Read More »

US Customs and Border Protection searched nearly 25,000 phones in 2016


WASHINGTON: Border agents with US Customs and Border Protection (CBP) carried out searches of nearly 25,000 cell phones in 2016, a fivefold increase over the 5,000 devices that were searched the previous year. The agency is on track to more than double its 2016 total this year, having searched 5,000 devices in February alone. The ability of CBP agents to ... Read More »

U.S CBP seizes metha drug worth US$200,000

U.S CBP seizes metha drug worth US$200,000

WASHINGTON: U.S. Customs and Border Protection (CBP) Office of Field Operations officers seized 5.7 pounds of methamphetamines valued at approximately $200,000 dollars. “Drug smugglers get very creative in their attempts to smuggle drugs into the United States,” said Michael Neipert CBP Presidio Port Director, “but our officers are ever vigilant for new or different smuggling trends utilized by drug traffickers.” ... Read More »

Vietnam purposes a revised free trade agreement with the US


HANOI: The remaining 11 members of the Trans Pacific Partnership aim to reach agreement on whether to move ahead with the trade pact without the US when they meet on March 14-15 in Chile. Vietnam Ambassador to the US Pham Quang Vinh said on March 7 that trade officials from the remaining TPP countries plan to hold the two-day meeting ... Read More »