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IATA says WTO trade facilitation accord a boost to e-freight program

IATA says WTO trade facilitation accord a boost to e-freight program

Feb. 23 | The International Air Transport Association (IATA) welcomed the entry into force of the World Trade Organization’s (WTO) Trade Facilitation Agreement (TFA), saying it will back up efforts to modernize the air...

Air cargo witnessed a revival amid rocky 2016, says ACI

Air cargo witnessed a revival amid rocky 2016, says ACI

Feb. 23 | In the midst of trade volatility and geopolitical conflicts, the air cargo industry ended 2016 on a strong note and passenger traffic remained resilient, according to the Airports Council International (ACI). “Whether...

UPS to bolster investment in smart logistics, announces long-term plans

UPS to bolster investment in smart logistics, announces long-term plans

Feb. 23 | American logistics giant UPS announced it will be making the most dramatic changes of its existence ever—largely by increasing investments in smart logistics, innovation, and automation—as it seeks to meet its...

ASEAN members improve economic freedom ranking

ASEAN members improve economic freedom ranking

Feb. 23 | For the 10-nation ASEAN group, Singapore remains the freest economy in Southeast Asia and the second freest out of more than 180 countries analyzed worldwide for the 2017 Index of Economic Freedom, published by Heritage...

Malaysian economy rose 4.5% in Q4

Malaysian economy rose 4.5% in Q4

Feb. 20 | The Malaysian economy grew 4.5% in the fourth quarter of 2016 compared to the same period in 2015, underpinned by continued expansion in private sector expenditure, said Bank Negara Malaysia (BNM). On the supply...

HK, Indonesia sign customs cooperation pact

HK, Indonesia sign customs cooperation pact

Feb. 20 | The customs agencies of Hong Kong and Indonesia have forged a cooperation to enhance administrative assistance to fight transnational crime. The Customs & Excise Department of Hong Kong and Indonesia’s Directorate...

Hamburg Sud unveils upgraded East-West service under slot charter deal

Hamburg Sud unveils upgraded East-West service under slot charter deal

Feb. 20 | Germany-based Hamburg Sud announced plans to offer an improved service in the East-West trades utilizing its slot charter agreement with Maersk Line. In a written release, the carrier said that with the new service,...

Singapore’s GDP forecast to improve in 2017 on slight global economic uptick

Singapore’s GDP forecast to improve in 2017 on slight global economic uptick

Feb. 19 | The Singapore economy grew by 2.0% in 2016, similar to the 1.9% growth in 2015, and is expected to expand by 1.0% to 3.0% this year, according to the Ministry of Trade and Industry (MTI). In 2016, the manufacturing...

Seoul court rules Hanjin Shipping as bankrupt

Seoul court rules Hanjin Shipping as bankrupt

Feb. 17 | South Korea’s Hanjin Shipping Co. was formally declared bankrupt by a Seoul district court on February 17, signaling the end for what once was the country’s biggest carrier and the world’s seventh leading container...

WCO cites urgent need to update rules of origin to reflect HS changes

WCO cites urgent need to update rules of origin to reflect HS changes

Feb. 17 | The World Customs Organization (WCO) is urging countries, customs administrations, and the private sector to update their rules of origin so that classifying with the Harmonized System (HS) and determining origin...
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