AFG Bank, formerly known as Gabon International Bank for Commerce and Industry, has introduced a new SWIFT code BICIGALXMDA to enhance the security and efficiency of international remittances. This code ensures accurate routing for customers during cross-border transactions, offering more convenient banking services for both individuals and merchants.
This article explains how to independently submit Verified Gross Mass (VGM) through the "Order Folder," detailing the submission steps and parties authorized to submit VGM. It also provides links to VGM-related information. The aim is to help shippers complete VGM declarations more conveniently, ensuring the safe and compliant transportation of goods. By streamlining the process, shippers can easily adhere to regulations and avoid potential delays or penalties associated with non-compliance. This guide offers a practical approach to VGM submission for those involved in container shipping.
New Indonesian e-commerce tax regulations are now in effect, requiring sellers with annual revenue exceeding IDR 500 million to pay 0.5% income tax. This measure aims to alleviate fiscal pressure and promote market fairness. The new rules will directly impact seller profit margins and increase platform operating costs and compliance responsibilities. In the long term, a standardized tax environment will contribute to the healthy development of the Indonesian e-commerce industry. Sellers and platforms need to actively adapt to these changes.
The East Coast port strike has ended as the International Longshoremen's Association and the United States Maritime Alliance reached a tentative wage agreement, resuming port operations. The strike stemmed from automation and wage disputes, with the government facilitating but not interfering. Businesses should monitor the port recovery, adjust logistics plans, and build resilient supply chains. The resolution averts further disruption to the supply chain and offers a temporary reprieve, but long-term solutions addressing automation and labor concerns remain crucial for future stability.
The World Customs Organization has issued new recommendations urging member economies to incorporate specific substances controlled by the Chemical Weapons Convention into national statistical directories. This aims to more accurately track and monitor the international movement of these sensitive goods. Businesses should comprehensively review their product lines, update internal coding systems, and enhance employee training to ensure trade activities comply with relevant laws and regulations. This proactive approach is crucial for maintaining international trade compliance and preventing the proliferation of chemical weapons.
DHL Group has established an Electric Vehicle (EV) Center of Excellence in Asia Pacific to strengthen its end-to-end EV logistics and supply chain solutions, addressing the rapidly growing Asian EV market. These centers offer comprehensive services ranging from capital equipment to aftermarket logistics, connecting to a global network to tackle industry challenges like battery recycling. DHL views the new energy sector as a key area for future growth, investing in infrastructure and expertise to support the expanding EV ecosystem across the region and globally. The focus is on providing sustainable and efficient solutions.
Hangzhou Airport launched a new "Single Window" air cargo model, simplifying domestic-to-international transfer processes. By implementing data sharing and dedicated service areas, it significantly improves cargo efficiency and reduces costs. Future plans include expanding partnerships, upgrading technology, and optimizing policies to establish a world-class international air cargo hub. This initiative streamlines operations, offering a seamless and cost-effective solution for businesses engaged in international trade, ultimately boosting Hangzhou's position in the global air cargo market.
US port leaders are expressing concerns about upcoming maritime regulations, believing they could lead to reduced port efficiency and increased congestion. They are urging caution, enhanced communication, and the exploration of commercial solutions to ensure ports continue to operate efficiently under the new regulatory environment, safeguarding global trade. The leaders emphasize the need for a collaborative approach to mitigate potential negative impacts and maintain the smooth flow of goods through American ports, highlighting the importance of proactive planning and adaptation.
Lopez Island Airport, with the IATA code LPS, is located on Lopez Island in Washington State, 6 kilometers from the central business district. Covering 50 acres and situated at an elevation of 64 meters, the airport features an 885-meter runway and offers flight services from airlines such as Kenmore Air and San Juan Airlines, primarily connecting to Anacortes and Bellingham. As a key hub for general aviation, 75% of its operations cater to diverse demands, making it an ideal choice for air transportation.
Loei Airport, with the IATA code NST, is located in Loei Province, Thailand, 14 kilometers from the city center. Since its opening in 1998, it has become an important aviation hub. The airport features a runway that is 2,100 meters long, multiple parking bays, and a passenger terminal area of 7,985 square meters, capable of accommodating up to 2,504 passengers. Major airlines operating at the airport include Thai AirAsia, Nok Air, and Thai Lion Air, providing flight services to key cities such as Bangkok.
