INSEAD Day 4 - 728x90

Customs

Google to invest $6.4bn

The investment is its biggest-ever in Germany.

Pfizer poised to buy Metsera

The pharma giant improved its offer to $10bn.

Ozempic maker lowers outlook

The company posted tepid Q3 results.

Kimberly-Clark to buy Kenvue

The deal is valued at $48.7 billion.

BYD Q3 profit down 33%

This was a 33% year-on-year decrease.
  • Washington, United States -- Global shipping giant DHL will "temporarily" suspend the shipping of parcels worth more than $800 from businesses to individuals in the United States as of Monday, the company said, citing delays in US customs clearances. "As a result of recent US Customs regulatory updates, we are...
  • Dubai Customs records 30.4m transactions in 2023, posting 17.5% growth

    Dubai, UAE--Dubai Customs has successfully processed more than 30.4 million customs transactions during the entire year of 2023. This set a new record for the highest number of customs transactions handled by Dubai Customs, showcasing a 17.5% growth compared to the 25.8 million transactions in 2022. This success is attributed...
  • Hamriyah, Deira ports report $3.30bn in customs declaration

    Dubai, UAE -- Hamriyah and Deira ports have reported 62,454 customs declarations, totaling AED 12.133 billion ($3.30 billion), with 19 seizures recorded over the first nine months of this year. Ahmed Mahboob Musabih, Director General of Dubai Customs, CEO of Ports, Customs and Free Zone Corporation, recently visited Creek Customs...
  • Iran’s exports of agriculture products climb up 10% to US$1.62bn

    Tehran, Iran-- Iran's exports of agricultural products to the outside world shot up 10% in the first 5 months of this year, the Iranian customs administration reported on Monday, According to a report released by the Islamic Republic of Iran Customs Administration (IRICA) in the first 5 months of this year...
  • ZATCA, Korea Customs Service sign MoU to recognize AEO

    Riyadh, Saudi Arabia -- Saudi Arabia's Zakat, Tax and Customs Authority (ZATCA) and Korea Customs Service have signed a memorandum of understanding regarding mutual recognition of the Authorized Economic Operator (AEO) Program. ZATCA Governor Eng. Suhail bin Mohammed Abanmi and Korea Customs Service Commissioner Kwanghyo Ko signed the MoU, which...
  • AD ports’ digital customs transactions increase by 37% in H1

    Clearance of goods transactions increased by 35.8%.
  • Dubai Customs clears TIR carnet transactions worth US$38.7m

    DUBAI, UAE - Dubai Customs has, to date, processed 214 customs transactions worth US$38.7 million (AED142.2 million) under cover of the International Road Transport (TIR Carnet) system, the global customs transit procedure. Dubai Customs cleared the first transit consignment under the TIR carnet in 2020. Dubai Customs is a signatory...
  • Qatar takes part in 58th MENA customs regional meeting

    Doha, Qatar--Qatar participated in the 58th regional meeting of director general of customs of the North of Africa, near and Middle East region, and the 141st/142nd Sessions of the WCO Council, held at WCO headquarters in Brussels. Qatar was represented by chairman of the General Authority of Customs (GAC) Ahmed...
  • Dubai Customs thwarts 2,600 attempts in last three years to smuggle drugs

    Dubai, UAE-- Dubai Customs has scuttled nearly 2,600 attempts during the last three years to smuggle drugs, combating a concerted campaign to bring in drugs into the emirate as it commemorates the International Day Against Drug Abuse and Illicit Trafficking on June 26th each year. Between 2020 and 2022, Dubai...
  • Iran and Russia sign customs agreement to boost trade volume

    Tehran, Iran-- Continuing with their program to deepen the relationship between the two countries, Iran and Russia have signed a new customs agreement to facilitate trade. The agreement was made in a meeting between Mohammad Rezvani-Far, Deputy Minister of Economy and Head of the Islamic Republic of Iran Customs Administration...
  • UAE leads as infrastructure, technology investments boost logistics performance of GCC countries

    The sector across the region, however, needs further improvements in timeliness and tracking and tracing systems, highlights the World Bank's latest Logistics Performance Index.
  • UAE-Israel free trade deal to take effect on April 1

    The customs deal is viewed as the concluding phase of a free trade agreement following the normalization of relations between the two countries. Netanyahu describes it as historic.
  • Iraq customs orders enforcement of alcohol import ban

    In spite of divisions over the legislation, Iraq's customs department has given orders to begin enforcing a ban on alcohol imports that became law last month. The specialist retail stores dominating alcohol sales in absence of bars or licensed restaurants however remained open for business, at least in Baghdad.
  • Dubai sees entry of 10,500 wooden dhows in 2002, boosting trade

    Dubai, UAE--The Marine Agency for Wooden Dhows has facilitated the entry of more than 10,500 wooden dhows during 2022, reflecting a 12 percent year-on-year growth. According to Sultan Ahmed bin Sulayem, Chairman of the Dubai’s Ports, Customs and Free Zone Corporation (PCFC), the wooden dhows ferried 1.7 million metric tonnes...
  • Abu Dhabi customs to clear goods for non-residents, outside firms

    Abu Dhabi, UAE– The General Administration of Abu Dhabi Customs has announced the provision for the possibility of clearing goods for non-resident individuals and non-registered companies from outside the UAE through Abu Dhabi's land, sea, and air outlets. This move aims to facilitate customer experience, reduce effort and time, and...
  • Duty-free markets at air, sea and land ports set to create jobs, help industries, benefit Saudi economy

    The move aims at supporting Kingdom's infrastructure development, boosting logistics and providing unique business environment in transport sector, air traffic and ports.
  • SDPW to support carbon neutrality and zero emissions

    Sharjah, UAE--The Sharjah Department of Public Works (SDPW) conducted a workshop on the "Sharjah Ports, Customs and Free Zones Authority Building" project and the lessons learned from the project. Ali bin Shaheen Al Suwaidi, Head of the SDPW, confirmed that the department supports carbon neutrality and zero carbon emissions in...
  • King Khalid airport best performer in Nov in high passenger rush category

    .Riyadh, Saudi Arabia---Saudi Arabia’s General Authority of Civil Aviation issued its monthly report on the performance of the kingdom’s international and domestic airports for the month of November 2022. The performance is based on 14 basic criteria such as waiting time at customs, baggage and passport control. In the category...
  • ZATCA extends period of exemption of penalties for Saudi taxpayers

    Saudi Arabia's Zakat, Tax and Customs Authority has extended the period of Cancellation of Fines and Exemption of Penalties Initiative for taxpayers
  • Egypt hikes price of customs dollar to highest ever

    Egypt has raised customs dollar to its highest level in history, a measure likely to inflate the price of imported goods.
  • Trakhees reports 22 percent H1 growth in commercial licensing business

    Dubai’s Department of Planning and Development, Trakhees, the regulatory arm of the Ports, Customs and Free Zone Corporation, has completed about 16,000 transactions through its Licensing Department during the first half of 2022, registering a growth of 22 percent compared to the same period last year. The Licensing Department provides...
  • Dubai Customs’ department carries out nearly 62,000 inspections in Q1

    The Sea Customs Centres Management, one of Dubai Customs’ departments, carried out 61,852 inspections and 120 seizures in the first quarter of 2022. In 2021, the Management carried out 150,541 inspections and 248 seizures. "We upgraded and developed our inspection systems in our customs centers to achieve the best results...
  • Dubai Government-Dubai Customs meet discusses best practices

    A Dubai Government delegation that visited Dubai Customs was briefed about the department’s experience in budgeting, internal control, and best practices in future foresight and government innovation. Through these visits, Dubai Customs supports its strategic relationships with its partners and builds effective, value-added relationships that contribute to enhancing the corporate...
  • Dubai Logistics City Customs Centre clears goods worth $435m in Q1

    Dubai Logistics City Customs Centre completed 48,000 transactions and cleared goods valued at AED 1.6 billion in the first quarter of this year, said Sami Eisa, Senior Manager of the Centre. The Centre facilitates processes and operations of companies and traders, and in particular in the shipments of the International...
  • Dubai food trade grew 11 percent to $15.51 billion in 2021

    Dubai Customs said Thursday the emirate’s external foodstuff trade in 2021 grew 11 percent to reach AED57 billion ($15.51 billion), compared to AED51.4 billion in 2020. According to the latest figures released by Dubai Customs, exports grew 11.3 percent to AED10.8 billion from AED9.7 billion in 2020, while re-exports went...
  • Protests rock Iraq’s southern area as food prices surge

    Protests erupted Wednesday in Iraq's impoverished south over a rise in food prices that officials attributed to the conflict in Ukraine. For about a week, the price of cooking oils and flour have skyrocketed in local markets as government officials have sought to address growing anger with various statements and...
  • Saudi Customs impound 8.3m amphetamine pills

    The Saudi Zakat, Tax and Customs Authority has made a large seizure of Captagon amphetamine pills at Jeddah Islamic Port, impounding some 8.3 million pills being smuggled into the kingdom.
  • Jordan removes customs fees on more than half of imports

    Cars, alcohol, and tobacco would not be exempted from customs fees, Jordanian Finance Minister Mohammad al-Ississ has said.
  • UAE Cabinet approves laws for housing loans, medicines

    The UAE cabinet has also approved policies to boost the creative sector, and even rehabilitate convicts and juvenile delinquents.
  • UAE forms new authority for identity, citizenship

    DUBAI: The UAE on Tuesday announced a new Federal Authority for Identity, Citizenship, Customs and Ports Security, which will be responsible for regulating the affairs of citizenship, passports, entry and residence of foreigners in the country. Its other responsibilities include promoting ports, borders and free zones' security, raising their efficiency...
  • Kuwait plans customs virtual corridor with Abu Dhabi

    The customs departments of Kuwait and Abu Dhabi are planning to form a virtual corridor.
  • Dubai Chamber adds 16,000 new members this year

    Some 16,000 new companies have joined Dubai Chamber this year, bringing the total membership to more than 275,000.
  • Bahrain cuts truck wait duration by 15 times

    Bahrain’s Customs president hailed importers, traders, and customs agents for the achievement.
  • Drugs seized at Dammam airport

    Alert officials of the Zakat, Tax and Customs Authority at King Fahd International Airport in Dammam have seized more than 2.6 kilograms of cocaine into Saudi Arabia while it was being smuggled into the kingdom
  • 19,000 kg banned drugs among Saudi customs H1 seizures

    The customs authority has foiled more than 1,000 attempts to smuggle prohibited items into Saudi Arabia.
  • Saudi officials seize a big load of drugs at border with Jordan

    A consignment of two million illegal pills was seized by the Saudi authorities along the kingdom’s border with Jordan. The drugs were hidden in tomato paste jars.