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Drug Smuggling Hits Afghan Exports to India

KABUL – The seizure of drugs concealed in commercial consignments from Afghanistan to India has created problems for Afghan traders. Indian police captured several drug smugglers, including two Afghans — this last July, for trafficking heroin worth billions of rupees to that country. Afghan traders say their goods were thoroughly searched before their entry into India and the time-consuming process ... Read More »

Taiwan charges 13 intelligence and airline officials in cigarette smuggling case

TAIPEI: A total of 13 agents of the National Security Bureau (NSB) and managers at China Airlines (CAL) were charged Friday (August 23) for their part in the smuggling of cigarettes involving President Tsai Ing-wen’s (蔡英文) recent foreign trip. On July 22, the day Tsai returned home from a highly successful trip to the Caribbean with stopovers in the United ... Read More »

Customs Today Issue 27 Aug to 02 Sep 2019

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NZX opens nearly 1% down on fresh trade war fears

The New Zealand sharemarket fell 1.5 per cent in early trading after trade war fears drove Wall Street down sharply. By 11.30am, the NZX-50 index was down by 157.2 points or 1.46 per cent at 10,469. Wall Streets Dow Jones Index finished 2.4 per cent lower on Friday and futures market pricing is pointing to more weakness in the US ... Read More »

Brazilian Real Devalues Further Despite Central Bank Intervention

SÃO PAULO, BRAZIL: Not even the auctions announced by Brazil’s Central Bank (BCB) after markets had closed, managed to hold the US currency’s appreciation in relation to the Brazilian real at the start of this week. The US dollar closed on Monday, May 20th, at R$4.105/US$1, with a slight increase of 0.07 percent. The exchange rate is the highest value ... Read More »

Trump-Abe trade deal helps U.S. farmers and staves off auto tariffs

The US-Japan trade deal, agreed in principle on the sidelines of the Group of Seven summit in France, spells out a big win for the U.S. that would slash Tokyo’s tariffs on American beef, pork and other farm products, and a small win for Japan as it delayed for now the threat of additional levies on Japanese auto exports to ... Read More »

Japanese Govt Likely to Become More Meticulous in Implementing Export Curbs

With the General Security of Military Information Agreement (GSOMIA) terminated, the Japanese government is expected to put pressure on South Korean industries by slightly increasing the number of items subject to export restrictions or delaying export inspection procedures rather than coming up with new high-impact measures. The Japanese government conducted its first economic retaliation against South Korea early last month ... Read More »

Three Arrested For Smuggling Gold Biscuits Worth Over Rs. 3 Crore: Police

NEW DELHI: The Directorate of Revenue Intelligence (DRI) has arrested three people for allegedly carrying about 10 kg gold worth over Rs. 3.87 crore smuggled into India through the Indo-Myanmar border, an official said on Tuesday. Acting on a tip-off, the DRI officers intercepted a vehicle on the Fulbari-Ghoshpukur bypass on Monday and recovered 60 gold biscuits, weighing a total ... Read More »

PH, other Asian nations hold drills on sea piracy, smuggling, terrorism off Subic Bay

Realistic training scenarios, like stopping a ship from sabotaging a commercial and shipping activity, while in the waters off Subic Bay near the West Philippine Sea was conducted by Asian maritime forces, including the Philippines and the United States Monday. A whole-day exercise against piracy, smuggling, and terrorism in sea were carried out yesterday by 150 personnel from different Southeast ... Read More »

Man arrested at Thai airport after ‘swallowing 1,200 grams of cocaine’

Glenn Chibasellow Ooko, 43, was arrested at Suvarnabhumi International Airport this week after it was discovered he has 1,200 grams of the drug on him. Nigerian national Joseph Ukpa Osita, 40, who allegedly hired him to bring drugs into Southeast Asian countries was later arrested in Bangkok. Office of the Narcotics Control Board (ONCB) chief Niyom Termsrisuk said airport task ... Read More »

Wildlife smuggling is worth up to R348bn a year – and the finance sector can help stop it

Around the world, endangered species are being driven to the point of extinction by the demand for illegal wildlife products. Despite our best efforts, the criminals are still winning. To turn the tide, we need to rethink our approach. That means recognising that everyone has a part to play – including the financial sector. The scale of the challenge is ... Read More »

Criminal facilitators bust: 6 arrests, over €1.4 mil. in items seized

In a major investigation into so-called criminal facilitators, the FIOD uncovered a large network of drug, weapons and anabolic steroids traffickers. Six people from Noord-Holland, Zuid-Holland, Utrecht and Flevoland were arrested over the past months. The FIOD seized 450 thousand euros in cash and bank balances, and over a million euros worth of ecstasy, steroids and medicines, AD reports. The ... Read More »

Tehran ready to discuss Macron’s new plan to keep Iran in nuclear deal

The French president floated a new proposal to Iran on how to soften the blow of the US withdrawal from the nuclear deal. The Iranian foreign minister said Tehran is ready to discuss it. The 2015 international agreement lifted economic sanctions from Tehran in exchange for accepting restrictions on its nuclear industry. Last year, Washington pulled out of the deal ... Read More »

Customs Today Issue 20 Aug to 26 Aug 2019

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Customs Today Issue 13 Aug to 19 Aug 2019

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Fitch affirms Hungary economic outlook ‘stable’

Hungary’s ‘BBB’ rating balances strong structural indicators and stronger and more stable macroeconomic performance than peers against high general government debt and risks from policy unpredictability and pro-cyclical policies,” Fitch said’ The credit rating agency expects growth to slow to 4.4 percent in 2019, 3.5 percent in 2020 and 2.5 percent in 2021. “Now nobody can deny that the #Hungarian ... Read More »

Spain makes new offer to help migrant rescue boat off coast of Italy

Spain has made another offer to the Open Arms migrant rescue vessel situated off the coast of Italy to dock at the nearest Spanish port. It’s after the boat with more than 100 people on board rejected a plan to dock in Algeciras because it was too far away. The migrants, most of whom are African, had been picked up ... Read More »

Portugal fuel-tanker drivers say they will suspend strike, negotiate

Portugal’s fuel-tanker drivers will suspend a five-day-old strike that led to fuel rationing at filling stations and negotiate with employers in government-brokered talks, their union said. The employer association ANTRAM had earlier rejected the union’s offer to negotiate better salaries and working conditions unless the strike was suspended or called off. “The union understands that the conditions are now in ... Read More »

Greece, EU to talk about bad loans

Talks between the government and the European Commission’s Directorate-General for Competition about banks’ bad loans will begin next week. The Greek proposal involves creating an asset protection vehicle where 16 billion euros’ worth of bad loans will be transferred and guaranteed by the state. The European Union’s concern is that the vehicle does not serve as a conduit for illegal ... Read More »

VN imports more petroleum in July

HÀ NỘI — Việt Nam imported more than one million tonnes of petroleum products in July worth more than US$633.2 million, up 99 per cent in volume and 107 per cent in value from the previous month, according to the General Department of Vietnam Customs. Notably, the import price of petroleum in July was 4.2 per cent higher than in ... Read More »