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Archive for December, 2016

PH regulation for advance ruling, rules of origin now in effect

PH regulation for advance ruling, rules of origin now in effect

Dec. 30 | The Philippine Bureau of Customs (BOC) has issued the customs memorandum order (CMO) providing guidelines in the implementation of an advance ruling system for valuation and rules of origin. Signed November 28, Customs Memorandum Order (CMO) No. 30-2016...

HK exports arrest decline with 8% growth in Nov

HK exports arrest decline with 8% growth in Nov

Dec. 30 | Hong Kong’s exports performed better than expected in November after contracting in October, according to figures from the Census and Statistics Department. The value of exports grew by 8.1% to HKD340.9 billion (US$43.9 billion) year-over-year in November,...

Cathay Pacific, Air Canada’s codeshare services start January

Cathay Pacific, Air Canada’s codeshare services start January

Dec. 30 | A strategic cooperation has been forged by Cathay Pacific and Air Canada to enhance travel services from Hong Kong to Canadian destinations, and from the North American country to Hong Kong, and to Southeast Asian nations including the Philippines, Malaysia,...

DP World expands Busan port holding, seeks more VN investments

DP World expands Busan port holding, seeks more VN investments

Dec. 30 | Dubai-based DP World announced it has acquired an additional 23.94% stake in Pusan Newport Company Limited (PNC) in South Korea from Samsung Corporation & Subsidiaries. This increases DP World’s holding in PNC to 66.03%, and the terms of the transaction...

Thai economy buoyed by higher exports, production output

Thai economy buoyed by higher exports, production output

Dec. 30 | The Thai economy has expanded continuously following an export increase and the higher confidence of the production sector, the Fiscal Policy Office reported. The agency said recently the national economy in November improved mainly due to a 10.2% hike...

Singapore’s Nov factory output logs 11.9% growth

Singapore’s Nov factory output logs 11.9% growth

Dec. 28 | A surprisingly robust performance was exhibited by Singapore’s manufacturing industry in November 2016, as output rose 11.9% year-on-year, reducing the odds of a technical recession for the city state in the fourth quarter, data from the Economic Development...

Wan Hai enhances Southeast Asian operations

Wan Hai enhances Southeast Asian operations

Dec. 28 | Taiwanese container carrier Wan Hai Lines will expand further its Southeast Asia network by joining the Thailand-Belawan Service come January. The Thailand-Belawan Service (also known as TBS) will commence on January 7, 2017 to provide a direct service...

Thai exports hit 9-month high in November

Thai exports hit 9-month high in November

Dec. 28 | Thailand’s exports rose 10.19% to US$18.91 billion in November, the highest growth rate in nine months, compared to a 4.22% slide in October. The strong performance indicated the recovery of the export sector due to the strengthened economies of major...

BOC order on duty-, tax-free balikbayan boxes now in effect

BOC order on duty-, tax-free balikbayan boxes now in effect

Dec. 27 | Overseas Filipino workers and Filipinos residing abroad may now send their balikbayan (household goods and personal effects) boxes to the Philippines duty- and tax-free. Customs Commissioner Nicanor Faeldon on December 23 signed Customs Memorandum Order...

Tug assistance is optional, PH ports agency clarifies

Tug assistance is optional, PH ports agency clarifies

Dec. 27 | The Philippine Ports Authority (PPA) said it did not completely suspend the tug assistance requirement but only made it optional in most cases and compulsory in some. “What we suspended is the compulsory tug assistance. In effect, we have made it optional....
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