Day: February 21, 2023

Feb 21

Global slowdown may derail momentum

KUALA LUMPUR: Malaysia kicks off 2023 with another commendable trade performance but economists warn that the momentum may not last for long given the looming global slowdown. They said the country’s total trade, which grew nearly two per cent year-on-year (y-o-y) to over RM207 billion in January, remained robust although export growth was moderated sharply to a 27-month low. “Malaysia’s export performance has been commendable especially on the back of high base last year as well as uncertainties over global Read Full Details…

Feb 21

Why cross-border e-commerce is good news for Chinese brands

Cross-border e-commerce is playing an increasingly vital role in stabilizing China’s foreign trade and economic growth amid the recovery from the COVID-19 pandemic’s impacts, even as the external environment continues to present headwinds. Market observers attribute this trend to more and more Chinese vendors selling their products globally through cross-border e-commerce platforms. As a new form of foreign trade, cross-border e-commerce has emerged as a key pathway to mitigate the impact of the pandemic on foreign trade. It is also Read Full Details…

Feb 21

Reed Smith international lawyers, practices earn exclusive Chambers Global rankings

International law firm Reed Smith ranked Band 1 in seven practice categories, and eight of its lawyers earned Band 1 individual rankings in 10 categories, in the Chambers Global 2023 guide released today. The firm appeared for 55 practice areas; 53 of its lawyers were endorsed; it gained new entries in 11 practice categories; and its lawyers got new rankings in six categories. Reed Smith’s featured practices are concentrated on dispute resolution (including arbitration) and its lawyers have a high Read Full Details…

Feb 21

Balancing ASEAN’s Internal and External Economic Integration

While political crises dominate the bloc’s attention, Indonesia can use its chairmanship to advance and recalibrate ASEAN’s economic integration agenda. The theme for Indonesia’s chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2023, “ASEAN Matters: Epicentrum of Growth,” aims to validate Southeast Asia’s status as an epicenter of economic growth. It also recognizes that maintaining economic growth necessitates ongoing efforts to internally integrate ASEAN’s ten economies and externally integrate them global partners. External integration has proceeded faster than Read Full Details…

Feb 21

Merchandise exporters to pay 18% GST on shipping costs: Govt

Merchandise exporters will have to cough up 18% goods and services tax, or GST, on the services of transportation of goods, a move that the industry says could lead to cash flow issues at a time when exports are declining. This follows a recommendation of the GST Council that the place of supply of transportation of goods must be determined on the location of the service receiver, rather than on the basis of destination of goods. Source : economictimes.indiatimes.com/news/ For Read Full Details…

Feb 21

Japan’s clothing imports up 21.6% to 308,847 mn yen in Jan 2023

Japan’s clothing and accessories imports increased by 21.6 per cent to 308,847 million yen (approximately $2,301.96 million) in January 2023, accounting for 3.1 per cent of the total imports of 10,047,783 million yen during the period under review, according to the provisional trade statistics released by the Far Eastern country’s ministry of finance.The imports of textile yarn and fabric were valued at 101,826 million yen in January 2023, a 5.6 per cent increase from the same period last year. Yarn Read Full Details…