Importers

Import of fish, seafood products OK’d

MANILA, Philippines – The Department of Agriculture (DA) has approved the import of 38,695 metric tons (MT) of frozen fish and aquatic products during the second quarter of the year, in a bid to stabilize the supply and market prices. The DA has published guidelines on the issuance of sanitary and phytosanitary import authorizations (SPSICS) for certificates of necessity to ...

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Zimra will enforce full CBCA implementation

The Chronicle business journalistThe Zimbabwe Revenue Authority (Zimra) will apply from June 1 inspection of imported goods at all entry points to ensure compliance with Consignment Based Conformity Assessment (CBCA). Under the CBCA scheme, all products regulated by the Ministry of Industry and Commerce imported into Zimbabwe must be accompanied by a CBCA certificate. Importers have therefore been urged to ...

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NSW, Victoria, Qld add 28,000 virus cases | the islander

Australia’s most populous states have recorded nearly 28,000 new cases of COVID-19 and 39 virus-related deaths. Victoria reported 21 deaths on Saturday, NSW 14 and Queensland four. With data yet to be published elsewhere, there are nearly 2,900 patients in hospital with coronavirus nationwide, more than a hundred of them in intensive care. Meanwhile, a person in NSW has been ...

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CIT Covers Importer Error Following Duties Waiver

By Alex Lawson (May 18, 2022, 5:07 p.m. EDT) – The U.S. Court of International Trade has rejected a steel importer’s bid to recoup national security tariffs the company says were levied by mistake because of minor errors in his request for exclusion, judging that the government was following its own regulations. The importer VoestAlpine USA Corp. and buyer Bilstein ...

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Saudi fund invests $320 million in new green coffee companyDaily Coffee News by Roast Magazine

Image from Public Investment Fund of Saudi Arabia. Saudi Arabia’s Public Investment Fund (PIF) plans to invest approximately US$320 million in the development of the Saudi Arabica coffee sector, with the aim of becoming an international player in coffee exports. The PIF – Saudi Arabia’s sovereign wealth fund which is believed to hold some $600 billion in assets – says ...

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Cases “ex officio”: the FTO completes its investigations – Business & Finance

ISLAMABAD: Federal Tax Ombudsman (FTO) has investigated several ex officio cases including misuse of unaccompanied baggage facility, customs clearance of imported goods, ongoing investigations against 180 FBR officials , a tendering process for unpaid vehicles, and corrupt practices by the customs authorities in Balochistan. Sharing details of some major cases, said a senior OTF office official company registrar here on ...

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KCCI suggests removal of VAT for commercial importers

The Karachi Chamber of Commerce and Industry (KCCI) has suggested to the tax authorities to remove the Value Added Tax (VAT) imposed on commercial importers to rectify an anomaly in the law. The KCCI, in its 2022/2023 budget proposals submitted to the Federal Revenue Board (FBR), said that a 3% value-added sales tax at the import stage for commercial importers ...

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Public Hearing Provides Insight into Possible Application of Uyghur Forced Labor Prevention Law | Womble Bond Dickinson

What is the Uyghur Forced Labor Prevention Law (UFLPA) and how might it impact your business? Issues surrounding the UFLPA Key Dates for Customs and Border Patrol (CBP) Guidelines and UFLPA Implementation What you need to do to be ready The Uyghur Forced Labor Prevention Act (UFLPA) was signed into law by President Biden on Dec. partly in Xinjiang Uyghur ...

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EXCLUSIVE German gas importer VNG will transfer euros to Russia for payment

DUESSELDORF, May 9 (Reuters) – Germany’s VNG (VNG.UL) will in future transfer euro payments for Russian gas to Gazprombank (GZPRI.MM) and expects no problems with a conversion in rubles, he said Monday during a meeting with top Moscow officials. claims under a new payment scheme. VNG’s first detailed comments on the matter come as European buyers of Russian gas must ...

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Two Warriors Meadery to rebuild after fire

WEST MONROE, La. (AP) — “I will never accept defeat. I’ll never give up. These statements are part of the US Army Soldier’s Creed, so it’s no surprise that two Army veterans take this approach after losing their businesses. In December 2019, Curtis Sims and Cameron Myers opened Two Warriors Meadery in West Monroe, the first such facility in the ...

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India, main importer, could cut taxes on edible oils to cool prices: report

India plans to cut taxes on some edible oils to cool the domestic market after war in Ukraine and Indonesia’s ban on palm oil exports has sent prices skyrocketing, people close to the government say. case. India, the world’s largest importer of vegetable oils, is seeking to cut agricultural infrastructure and development taxes on imports of crude ...

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Why do Spain and Portugal get special energy treatment?

Placeholder while loading article actions Spain and Portugal have pulled off a diplomatic coup with a new alliance to tackle soaring energy prices. Not against Putin’s Russia, which has its boot on the trachea of ​​European gas importers, but against their fellow partners in the European Union. In the short term, this will protect consumers in Spain and Portugal, whose ...

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CEPS says business is picking up at Hamile border

Hamile border Commercial activities at the Hamile border in the Upper West region are slowly resuming with the reopening of Ghana’s borders with neighboring countries. Borders have been closed due to the Covid-19 pandemic. Importers from Burkina Faso, Mali, Guinea, Senegal and Mauritania, which frequent the Hamile border, had started arriving with goods and services. Mr. Clever Attuh-Ndro, second in ...

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eezyimport’s Autonomous Clearance Platform Marks Second Year Serving US Importers

Camden, Delaware – Tel Aviv, Israel, April 27, 2022 – Eezyimport, the web-based DIY (DIY) platform for US importer clearance requirements, is celebrating its second anniversary. This US-Israeli freight technology company fills a gap in the market by serving the growing number of small and medium-sized importers (SMEs and SMEs) engaged in e-commerce businesses that gain value and ease through ...

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Heroin worth Rs 1,439 crore seized near Kandla port in Gujarat; importer arrested

The Tax Intelligence Directorate seized 205.6 kg of heroin worth Rs 1,439 crore from a container near Kandla port in Gujarat and arrested a Punjab importer in this regard following a vast search operation, the DRI announced on Monday. According to a senior police official, the contraband was recovered from one of 17 containers that arrived at Kandla port ...

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Is Congress preparing a big trade giveaway for China?

As politically divided as the United States has become in recent years, Americans agree on one thing: China. They are troubled by the US’ heavy reliance on supply chains in China. They are appalled by China’s use of slave labor in its factories. And they see China openly supporting Russia’s invasion of Ukraine – and accusing the United States of ...

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PH among the hardest hit by high oil prices

The Philippines is among the emerging markets likely to suffer the most from expensive oil, according to British think tank Oxford Economics. “Rising fuel import prices will translate into high inflation in emerging markets in Asia and Europe where subsidies are low. Inflation through this channel will be most apparent in the Philippines, Thailand, Poland, India, Hungary and Romania,” said ...

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Myanmar’s military government denies fuel shortage rumors

BANGKOK – Myanmar’s military government on Tuesday denied the country was suffering from a fuel shortage after rumors of low petrol and diesel supplies sparked panic buying and long queues at gas stations. serving multiple cities. Some gas stations in Yangon closed after running out of supplies and several motorists said they were limited in how much they could buy ...

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Sugar tax scam: recover Rs. 16b loss from importer

COLOMBO (News 1st); One of the worst examples of corporate profiteering at the expense of ordinary citizens has received a resounding thump from Sri Lanka’s National Audit Office. The National Audit Office, in a recent report, recommended that the government immediately recoup lost state revenue by reducing taxes imposed on imported sugar. The report recommends that funds be recovered from ...

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This $12 rosé is a bright, refreshing drink on a hot day

Three wines from Bulgaria headline this week’s selections, including a rosé and a delicious pinot noir from Rough Day, a popular and widely available bargain label. Special thanks to the brand for switching to lighter bottles to reduce its carbon footprint and for including nutritional information on its labels for carb and calorie conscious consumers. Our third Bulgarian is a ...

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Russia wants energy importers to pay in rubles – GIS Reports

The Kremlin’s attempt to make “hostile countries” pay for energy imports in rubles is problematic for a host of reasons. Is there more to this movement than meets the eye? Requiring payments in rubles would not change much of the currency’s profile abroad. Moscow’s desire to do so is likely driven by domestic concerns. ©Getty Images × In a word ...

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Ukraine. Humanitarians stress urgent need for ‘localized’ ceasefires – Ukraine

Local ceasefires are needed more than ever in Ukraine as the conflict shifts to eastern regions following Russia’s withdrawal from the region around the capital Kyiv, UN aid workers said on Friday, while world food prices have reached record highs. Six weeks after the Russian invasion, thousands of civilians are believed to still be trapped in the southern port city ...

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Sri Lanka faces a shortage of essential drugs; Experts warn of health crisis

ECONOMYNEXT- Public hospitals in Sri Lanka are running short of essential drugs and medical equipment as the shortage threatens a major health crisis due to a possible collapse in the drug supply chain, a health sector union has said. health. Sri Lanka imports 80% of its medicines, but a severe shortage of dollars due to the current economic crisis has ...

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Emerging markets and the two wars

The US central bank formalized the end of its easy money policy at its March meeting, forcing a significant repricing of the US Treasury curve, with the two-year duration seeing its most dramatic three-month rise since 1994. Russia’s war in Ukraine has entered its second month, putting outsized pressure on commodity costs, with oil, wheat and palladium prices posting their ...

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No penalty for the importer due to an error made by the exporter in the entry declaration: CESTAT

By Rasheela Basher – On April 3, 2022 2:08 p.m. The Delhi CESTAT Bench ruled that the penalty under the Customs Act 1962 cannot be imposed on an importer for errors in the entry declaration made by the exporter. The Bill of Entry has been assessed and marked for review by the SIIB based on the first check. The goods ...

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Commercial court orders review of Chinese tariffs

By Alex Lawson (April 1, 2022, 2:57 p.m. EDT) – The U.S. Court of International Trade ruled Friday that the federal government failed to adequately explain its decision to impose tariffs on more than $300 billion of Chinese goods, but refused a push to eliminate levies altogether. In a test case for thousands of challenges to Trump-era tariffs imposed on ...

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EXPLANATION: What would it mean to pay for natural gas in rubles?

BERLIN (AP) — Already high gas prices in Europe have been swirling since Russian President Vladimir Putin announced plans to have importers… BERLIN (AP) — Already high gas prices in Europe have been swirling since Russian President Vladimir Putin announced plans to make importers pay for Russian natural gas in rubles instead of dollars and euros. Here’s a look at ...

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Provision allowing large brewers to sell growlers advances under omnibus liquor bill – Session Daily

Minnesota beer drinkers can purchase some of the state’s most popular beers directly from their brewers. Sponsored by Rep. Zack Stephenson (DFL-Coon Rapids), HF2767, as amended, would increase a limit that currently prohibits breweries — specifically Surly, Summit, Schell’s, Fulton and Castle Danger — from selling take-out growlers in their venues. consumption, effectively making them victims of their own success. ...

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The pendulum of globalization returns

The writer is co-founder and co-chairman of Oaktree Capital Management Powerful investing themes sometimes emerge in a connection between seemingly unrelated events. The outbreak of war in Ukraine revealed such a theme, and I think investors should heed it. At a recent meeting of the board of directors of Brookfield Asset Management, on which I sit, a discussion of Europe’s ...

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Nigeria: NACC and Stakeholders Push for Food Security Bill to Tackle Rejection of Nigerian Non-Oil Exports

The Nigerian-American Chamber of Commerce (NACC) has rallied stakeholders in the agriculture sector to champion the need for a food security bill that would address Nigeria’s high level of rejection of non-oil exports. The NACC has highlighted the need for the passage of the National Food Safety and Quality Bill 2019 by the National Assembly in its quest to protect ...

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Conflict in Ukraine opens up diplomatic and energy opportunities in Qatar

* Qatar has suggested it could supply more gas to Europe * Foreign Minister coordinated with Washington ahead of Lavrov talks * Qatar’s contacts with the United States contrast with tensions between the United Arab Emirates and Saudi Arabia * Gulf state serves as a link between the West and Taliban-ruled Afghanistan By Andrew Mills DOHA, March 20 (Reuters) – ...

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Depreciation of cedi affecting oil importers, causing price hikes – Senyo Hosi

The managing director of the Ghana Chamber of Bulk Petroleum Distributors, Senyo Hosi, said the depreciation of the cedi is largely responsible for the rising cost of petroleum products which by extension affects the prices of other things such as transport and food prices. The Chamber of Petroleum Consumers has predicted that from tomorrow, Wednesday, March 16, 2022, ...

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What will it take for OPEC+ to increase its oil production?

Worsening oil shortages following Russia’s invasion of Ukraine have driven prices at the pumps up in recent weeks, raising fears of a catastrophic global oil crisis and runaway inflation. Despite these concerns, the Organization of the Petroleum Exporting Countries (OPEC) and other non-OPEC oil exporters, a global oil cartel known as OPEC+, are still holding back on increasing production. , ...

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US importer UAZ Russian suspends operations for obvious reasons

From the 1950s until the closure of its Italian operations in 2018, Bremach built giant work trucks. Hung by the nails, the American branch of the company has teamed up with UAZ to stay afloat. Depending on what happens next, this could prove to be a blow to the company. If reports indicate that the company has received 38,000 deposits ...

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Nikki Fried blames Putin for fertilizer shortage

Ukraine’s “unprovoked invasion” is impacting Florida farmers. The world is experiencing a shortage of fertilizers. The problem is particularly acute in Florida, potentially threatening food security. And a historic American enemy is to blame, says the state’s only Cabinet Democrat. Agriculture Commissioner Fried Nikki on Friday blamed Russia’s invasion of Ukraine as the source of the shortage, scolding the Russian ...

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China may turn to Indonesia for coal as Russian exports disrupted, CLSA says

Russia’s war in Ukraine is unlikely to have a uniform effect across Southeast Asia, says CLSA’s Anthony Nafte. Many economies in the region are net importers of oil and are expected to come under “a lot of pressure,” Nafte told CNBC’s “Street Signs Asia” on Wednesday. He noted that recent commodity price spikes have been “much higher” than expected and ...

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European trade in natural dyestuffs peaks at nearly $720 million

IndexBox has just published a new report: ‘EU – Coloring Matter Of Plant Or Animal Origin – Market Analysis, Forecast, Size, Trends And Outlook’. Here is a summary of the main findings of the report. Over the last decade, European exports of natural coloring materials have increased from $494 million in 2010 to $720 million in 2020. Spain, the Netherlands, ...

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Car importers caught in KPA and a brawl in a private port

Companies Car importers caught in KPA and a brawl in a private port Monday 07 March 2022 Kenya Ports Authority (KPA) Acting MD John Mwangemi inside Lamu Port in Lamu County. PICTURES | KÉVIN ODIT | NMG By OTIATO GUGUYUMore from this author Summary A car dealer who requested anonymity said KPA blocked all vehicles imported through the Container Freight ...

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Egyptian wheat importers face supply crisis | weekly farm

EGYPT, the world’s largest wheat importer, is scrambling to find alternative sources of supply after war in Ukraine disrupted its main source of grain. Russia and Ukraine have dominated the lion’s share of sales to Egypt for the past ten years, but now Egypt is casting the net further. Official data showed that Russia supplied around 50% and Ukraine 30% ...

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12,000 vehicles stranded at ports, importers suffer N600m losses – The Sun Nigeria

By Steve Agbota, Lagos Importers and traders under the umbrella of the Ndigboamaka Progressive (Market) Association and the Lagos State Shippers Association (SALS) have called for the immediate suspension of the controversial ID number valuation system of Vehicles (VIN) introduced by the Nigeria Customs Service (NCS) for imported vehicles. At a joint press briefing in Lagos, the associations denounced over ...

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West’s quick move against Russia has City Bizmen nervous | News Ludhiana

Ludhiana: Exporters and importers based in the city are nervous over Western countries’ call to ban Russia’s SWIFT (Society for Worldwide Interbank Financial Telecommunication) payment system from international banks. The businessmen said that if the ban is implemented, it would jeopardize trade with Russia and everyone, whether exporters or importers, would be affected. Some businessmen have said that countries advocating ...

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Albanian daily news

The Albanian economy will suffer direct and indirect shocks from Russia’s attacks on Ukraine. Fuel and flour prices are expected to rise, as the country imports 47% of its annual grain needs and 12% of oil from Russia. The indirect consequences will come from the global increase in food and energy prices and negative impacts on tourism. Wholesalers claim there ...

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Korea to launch W2tr biz support program to counter Russian-Ukrainian crisis if needed

South Korea’s top financial regulator said on Friday a support package worth 2 trillion won ($1.66 billion) would be launched to protect local businesses from economic hardship stemming from the Russian invasion. on a large scale of Ukraine, if necessary. “We will thoroughly examine the extent of the damage and the financial situation of our exporters and importers in order ...

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The French Pavilion is back at Vinexpo America 2022

The French pavilion is back at Vinexpo America with 62 spirit and wine producers and merchants ready to meet local professionals. With 50% more producers this year, the pavilion represents 23% of the show’s total exhibitors. To highlight the excellence of the pavilion, Business France is also organizing 2 exclusive tastings. New York, February 15and – After a successful first ...

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China turns to Indonesia for coal after fallout with Australia

China and Australia seem to have finally drifted apart. The relationship turned frosty after China imposed an “unofficial ban” on Australian coal imports in November 2019. At the time, many believed China would suffer more. But steel prices also held up. The dispute began in 2019 after China delayed Australian coal shipments. Other factors, including Covid, made matters worse. China ...

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U.S. non-electric air heater imports top $805 million record

In 2021, the United States, the world’s largest buyer of non-electric unit heaters, imported goods worth more than $805 billion, an increase of 33% compared to 2020 figures. IndexBox has just published a new report: “US – Air Heaters Or Hot Air Distributors – Market Analysis, Forecast, Size, Trends And Insights”. Here is a summary of the main findings of ...

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Why marine insurance is essential for risky import business

NAIROBI, Kenya, February 18 – Importing goods has become the norm for many business people who depend on goods from abroad to sustain their businesses locally. There are many potential risks encountered throughout the voyage and unbeknownst to many, the danger can be avoided through marine insurance whose solution takes care of all potential risks whenever the goods move from ...

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What does the regulation on market surveillance and inspection of goods introduce?

The Ministry of Commerce (“Ministry“) introduced new regulations when repealing the Regulation on Market Surveillance and Inspection published in the Official Journal on April 1, 2020. The recently published Regulation on Market Surveillance and Inspection of Goods (“Regulation“) sets out the procedures and principles relating to market surveillance in order to ensure that consumer products are safe and comply with ...

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6 Australian wine styles that are driving sales

It’s been over 15 years since Australian wines and high-end, points-driven bottling began making headlines and dominating wine lists and shelves. For many buyers today, that story might as well be ancient history. “Australia has quite a story to tell,” says Tonya Pitts, Sommelier and Director of Wines of San Francisco A market restaurant, “but that’s not the story so ...

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Rising Costs, Depreciation of Rupee Affecting Mobile Sector

KARACHI: Local dealers, importers and mobile phone mechanics are suffering huge losses due to rising costs of imported mobile parts, depreciation of the rupee and lack of domestic parts manufacturers. As countries around the world strive to advance and manufacture in the field of technology and computing; self-sufficiency and becoming a manufacturing base remains a distant dream for Pakistan. The ...

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Indian mango growers keen to resume exports to US after 2-year break

Indian mango growers are excited to start exporting to the US after a 2-year supply disruption caused by the Covid-19 pandemic. Their mangoes have gone through fruit set and are reaching maturity with a harvest in just a few weeks. Although there is good demand from end consumers in the United States with many inquiries from importers, high airfreight rates ...

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International Data Transfers Under UK GDPR: International Data Transfer Agreement and Addendum Tabled in Parliament | Wilmer Hale

Companies that transfer personal data to and from the UK will soon have clear information regarding transfers from the UK to recipients outside the EU/EEA. On February 2, 2022, the UK Secretary of State for Digital, Culture, Media and Sport tabled in the UK Parliament new mechanisms for international data transfer – a draft International Data Transfer Agreement (“IDTA”) as ...

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Lawmakers and regulators seek to cap fees charged by carriers at ports

Mark Boone reluctantly agreed that the cost of shipping a container of wax melters from Pakistan to Charleston, SC doubled in the past year to more than $17,000. But the shipping company’s additional $6,820 charge in December for a single container that U.S. Customs and Border Protection set aside for inspection for 20 days fell outside commercial market forces, in ...

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People are suffering as the government struggles to detect Covid

Suspected Covid patients are battling to get tested in Bangladesh amid the worst wave of infection since the disease emerged two years ago. RT-PCR testing is still taking days or even weeks due to lack of capacity, while an ongoing antigen test kit crisis amid a sustained high spread of daily infection for the past week of January added woes ...

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Column: Crude Oil Remains Hostage to OPEC+ Underperformance: Russell

LAUNCESTON, Australia, Feb 3 (Reuters) – The latest meeting of the OPEC+ group of oil exporters apparently took just 16 minutes to decide whether to stick with the current course. Maybe they should have spent more time figuring out how they would actually achieve their production goals. The Organization of the Petroleum Exporting Countries and its Russian-led allies, a group ...

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Georgia detects abnormally high markup on imported drugs

BAKU, Azerbaijan, February 1 By Maryana Akhmedova – Trending: The markup on drugs imported into Georgia in some cases reaches 1000%, said the chairman of the State Competition Agency Irakli Lekvinadze, reports Trend via Georgian media. “There are about 160 drug importers in Georgia. While the average profit margin of large groups is in the range of 7-25%, which is ...

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Iranian lawmaker warns of massive uprisings in coming months

A conservative Iranian lawmaker has warned of massive uprisings in the country if the economic situation continues to deteriorate in the coming months. Criticizing President Ebrahim Raisi’s decision to cut food subsidies, Ahmad Naderi said on Sunday that the government was on the wrong track on some issues. He said the reforms proposed by Raisi in next year’s budget could ...

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A fire in Manises destroys a warehouse of the largest importer in Valencia

A huge fire broke out in an industrial complex of eight warehouses in the industrial area of ​​Manises in Valencia today, Friday January 28. This batch of warehouses, located on Avenida Mas de l’Oli, next to the airport, is mainly dedicated to the import and storage of products for Chinese bazaars. A warehouse was completely destroyed, but thanks to the ...

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Higher import duties killing industry, say Kenyan juice makers

By EDWIN MUTAI Fruit juice makers have rejected a decision by the Kenya Revenue Authority (KRA) to increase import duties on products used in making ready-to-drink juice. They said KRA has raised customs duties from 10% to 25%, which forces consumers to pay the additional costs. The reclassification of duties levied on semi-processed products used to make juice, they said, ...

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BTMA seeks 100% duty waiver for all fiber types

Key requests Duty-free import facility for over 20 fiber types Maintaining the corporate tax rate facility of 15% until 2026 Reduction of duties on imports of textile instruments to 1% Reduced VAT on locally produced yarn to Tk 3 per kg Increase in government-set wastage rates in yarn production The Bangladesh Textile Mills Association (BTMA) has called for full import ...

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Hortgro excited by success in India

Hortgro, the South African apple and pear growers association, is set to expand its promotional campaign in India in the coming season, following the successful launch of its market development program in 2021. The industry body reported a “remarkable increase in demand” for South African apples and pears in the Indian market during the 2021 season, with sales boosted by ...

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CBN launches electronic invoicing for importers and exporters on February 1

the Central Bank of Nigeria (CBN) announces that it will launch electronic invoicing for imports and exports in the country from February 1, 2022. The apex bank made the disclosure in a circular to all authorized dealers and the general public, and signed by its director of the commerce and trade department, OS Nnaji, and posted on its official website ...

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Canadian Beef Market Update: China’s Beef Imports Rise, But High Prices Create Uncertainty

Chinese beef imports have been rising on the mainland, but in Hong Kong beef supplies are tight and prices are rising. China has imported 1.97 million tonnes of beef year-to-date in October, up 12% from 2020. The overall value of imported beef is expected to exceed US$11 billion for 2021. Although the overall level of beef prices in November has ...

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Plaisirs du Vin B2B Workshops for Wine Export 2022 Change dates

Advertising The 12and edition of the first B2B workshop in Italy which was originally scheduled to take place March 1-3 will now take place May 2-4 due to concerns from importers regarding travel and the Omicron variant. January 18 – “Given the uncertainty and travel restrictions generated by the current situation created by Omicrom in many countries and in order ...

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Nearly three million cars recalled in Korea last year

The number of cars recalled last year was 2.93 million, a record. The Korea Transportation Safety Authority announced on Jan. 16 that 2,932,820 cars divided into 2,443 models were recalled in South Korea last year. The figure, which is a record, is the sum of those ordered by the Ministry of Land, Infrastructure and Transport and the Ministry of Environment ...

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The customs strike enters its third day

LANDIKOTAL: Hundreds of loaded trucks were stuck at the Torkham border as the customs strike entered its third day on Friday. The Khyber Chamber of Commerce had called on all its affiliated customs associations to boycott the clearance of goods to register their protest. An official said importers and exporters had lost millions of rupees over the past few days ...

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The new promotional campaign to raise awareness of Tasmanian cherries in Taiwan

Fruit Growers Tasmania launches the very first state cherry promotional campaign in Taiwan, aimed at developing an important market for local growers. CEO Peter Cornish said it will be a four-week campaign running on Facebook and YouTube and featuring three short videos that show where and how Tasmanian cherries are grown; highlighting their freshness, color and size. These videos take ...

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Iran to allow crypto payments for international trade: report

The Central Bank of Iran, or CBI, and the Ministry of Commerce have reached an agreement to link the CBI’s payment platform to a trading system that allows businesses to settle payments using cryptocurrencies, The Mehr news agency reported on Monday. Alireza Peyman-Pak, Iranian deputy minister of Industry, Mines and Trade and head of the Iranian Trade Promotion Organization, or ...

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Indian Banks Reduce Packaging Credit For Shipments To Sri Lanka, Lower Risk Limits

ECONOMYNEXT – Indian banks have further tightened packaging credit for exports to Sri Lanka and reduced risk limits due to currency shortages on the island that delayed payments and increased risk perception, report says . Several Indian banks have reduced the discount on letters of credit issued by Sri Lankan banks to importers on the island, Indian newspaper Economic Times ...

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New foreign currency restrictions for imports

Amid the depletion of foreign exchange reserves, the central bank has reduced the amount of foreign exchange that importers of various agricultural products can purchase from banks to pay for imports. According to Unified DirectiveAs issued Friday by the Nepal Rastra Bank, importers of agricultural products can purchase a maximum of $ 50,000 per import. Government approval is still required ...

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KPA to complete second oil terminal

President Uhuru Kenyatta visits the Kipevu oil terminal in Mombasa County in August 2021. [PSCU] President Uhuru Kenyatta is expected to inspect the progress of the new Kipevu Oil Terminal (KOT) under construction at Mombasa Port today. It comes as the Kenya Ports Authority (KPA) prepares for the completion of the 40 billion shillings facility, which is expected to ease ...

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Dollar hits 5-year high at top 115 yen, Tokyo shares surge

(File photo / Mainichi) TOKYO (Kyodo) – The US dollar climbed into the upper 115 yen range on Tuesday in Tokyo, its highest level since January 2017, as dollar purchases were fueled by increased risk appetite following a surge of Tokyo shares. The dollar was trading at around 115.80 yen around 1:50 p.m. in Tokyo after hitting 115.28-38 yen in ...

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Sri Lankan Shipping Agents Seek Dollarized Payments Amid Currency Problems

ECONOMYNEXT – Sri Lanka’s shipping agents have demanded dollarized freight charges, a report said as currency shortages intensified amid low interest rates and cash injections. “The current shortage of US dollars in the banking system has made it difficult to convert any collection of freight rupees into US dollars in order to make payments to principals,” Sri Lankan newspaper The ...

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Demands emerge for gas supplies to the west via Yamal-Europe – data

A worker mounts a cylinder at a gas compressor station on the Yamal-Europe gas pipeline near Nesvizh, southwest of Minsk, December 29, 2006. REUTERS / Vasily Fedosenko / File Photo Register now for FREE and unlimited access to Reuters.com Register MOSCOW, Dec.31 (Reuters) – Demand for westward flow of Russian natural gas via the Yamal-Europe pipeline to Germany at the ...

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Offer to buy $ 2.5 million vessel: former SLN officer, others under investigation

“Yugadanavi is one of the many contentious issues” By Shamindra Ferdinando Minister of State Jayantha Samaraweera said the country would not have been in such turmoil today if senior political leadership had consulted with voters in the ruling coalition. Kalutara District Samaraweera National Front for Freedom (NFF) lawmaker said a latent dispute over the Yugadanavi deal that ended up in ...

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The rupee ends up weaker

KARACHI: The rupee closed slightly lower on Monday as inflows of remittances and selling of the US currency by exporters pushed the local currency to end at 178.17 per dollar in the interbank market. The rupee also lost ground in the open market due to weak supplies, closing at 181.20 per dollar, 1.30 rupees lower from Friday’s close of 179.90. ...

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New Years – New Chapter for 150 W. Main Street

“Economy Store will move to the Wetzler building” was the announcement made almost 90 years ago (Daily Eagle 20 Nov. 1930). “This new location was once the Majestic Theater, but has been renovated and redecorated inside and out, making it one of the most attractive and modern places. The facade is one of the most beautiful in the business district. ...

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USDA, DOT Call on Ocean Shippers to Help Disruption in Shipping

Transportation Secretary Pete Buttigieg and Agriculture Secretary Tom Vilsack are calling on major ocean carriers to help ease disruption to agricultural exports. Shipping carriers make fewer containers available, change return dates, and charge unfair fees. Cabinet members sent a letter to the world’s major shipping carriers calling for full service at west coast ports. They also indicated that if the ...

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Brief on the tax and customs audit processes

First in a series Recently, the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) respectively issued Letters of Authorization (LOA) and Audit Notification Letters (ANL) to certain taxpayers and importers. It is therefore perhaps the best time to review the BIR and BOC audit processes and procedures in light of the aggressiveness of income-generating agencies. LOAs and ...

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