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Archive for December, 2015

Thai gov’t unveils new economic strategy, gears for AEC

Thai gov’t unveils new economic strategy, gears for AEC

Dec. 28 | The government of Thailand has announced a new economic strategy intended to expand its role in international trade and strengthen the national economy. Prime Minister General Prayut Chan-o-cha said the new economic scheme will focus on three key areas:...

Vietnam’s GDP growth reaches 5-year high

Vietnam’s GDP growth reaches 5-year high

Dec. 28 | The economy of Vietnam grew an estimated 6.68% this year, the fastest pace in five years, according to the General Statistics Office (GSO). The Southeast Asian country’s gross domestic product (GDP) expanded by 6.25% in 2011, by 5.25% in 2012, by...

Volatility deflates shipping confidence over freight rate hikes

Volatility deflates shipping confidence over freight rate hikes

Dec. 26 | Overall confidence levels in the shipping industry fell in the three months to November 2015, with respondents expressing negative sentiment that freight rates will go up, according to the latest shipping confidence survey of Moore Stephens. The average...

Rising transshipments keep Busan Port busy

Rising transshipments keep Busan Port busy

Dec. 26 | South Korea’s Busan Port experienced a cargo volume uptick of 4.8% in the first 10 months of the year despite the global economic slowdown, the growth propelled by rising transshipments, according to the Busan Port Authority (BPA). The port handled...

HK economy forecast to log moderate growth in 2016

HK economy forecast to log moderate growth in 2016

Dec. 26 | The economy of Hong Kong is expected to grow by 2.5% in 2016, largely unchanged from this year’s performance. Sluggish overseas economies, a strong U.S. dollar, and the slowdown in the tourism market exerted negative influences on Hong Kong’s...

BOC revenues down by 7% in Nov

BOC revenues down by 7% in Nov

Dec. 23 | The total collection of the Philippine Bureau of Customs reached P29.1 billion in November, 27.4% or P10.9 billion below the P40-billion target for the month and 6.9% or P2.2 billion less than the P31.2-billion November 2014 collection. The preliminary...

Singapore forms team to update economic strategy for ‘new global realities’

Singapore forms team to update economic strategy for ‘new global realities’

Dec. 23 | Singapore’s newly formed Committee on the Future Economy (CFE) is all set to review and update the city-state’s economic strategy and come up with recommendations by the end of 2016. In a statement by the CFE Secretariat released on December 21, it...

PH airlines handle 53.2% more freight in first three quarters

PH airlines handle 53.2% more freight in first three quarters

Dec. 23 | Freight carried by domestic airlines in the first nine months of 2015 surged 53.2% to 196.816 million kilograms from 128.465 million kilos year-on-year, data from the Civil Aeronautics Board (CAB) showed. It must be noted though that the comparable data...

BOC allows cashing in of VAT tax refund credits

BOC allows cashing in of VAT tax refund credits

Dec. 23 | Philippine firms may now monetize the outstanding value-added tax (VAT) tax credit certificates (TCCs) they earned from the Bureau of Customs (BOC). In a statement, the customs agency gave the go-signal, under Customs Memorandum Order 43-2015, to open...

PNP open to 10-year extension of license for controlled chemicals

PNP open to 10-year extension of license for controlled chemicals

Dec. 23 | The Philippine National Police (PNP) is looking at extending the validity period of licenses for the purchase and handling of controlled chemicals as long as enterprises can provide proof of legitimate operations. In a recent meeting with stakeholders,...