In the QAD Precision News Round-Up: 15 November 2019, Singapore-EU
FTA set for November 21; DHL profits grow as Q3 earnings soar; FedEx
expands in Oman; Alibaba and JD report strong Singles' Day sales;
plus the importance of compliance with deemed export regulations and more.
On November 21, a free-trade agreement between Singapore and the
European Union will take effect, a decade after negotiations began.
Under the agreement, Singapore will remove tariffs on all EU products
entering the country and the EU will remove tariffs ons 84 percent of
all Singapore goods entering the EU within the first year. The EU will
remove tariffs on the remaining 16 percent of imports from Singapore
over three to five years. For more information, please see Bloomberg.
UPS is launching a holiday rewards program to encourage customers to
collect packages instead of having them delivered. The carrier offers
a number of alternate locations through its Access Point network,
including Michaels stores, UPS stores and local businesses. UPS is
offering rewards to customers who pick up packages, including MyChoice
Premium and Target gift cards. For more details, please see Transport Topics.
On Tuesday, DHL’s third-quarter results revealed a 151 percent
increase in earnings before interest and tax (EBIT) of €942 million,
compared with €376 million in the third quarter of 2018. The
logistics giant reported very strong growth in its international
express business as well as its German parcel business. The company
expects a strong Q4 and a busy holiday season. For more details,
please see Reuters
and The Loadstar.
FedEx Express has announced its expansion in the Gulf Cooperation
Council (GCC) countries and will now have a direct presence in the
Sultanate of Oman. The carrier previously offered services in the
country through local partners. As a result of the expansion, FedEx
Express customers in Oman will now have access to and from
approximately 220 countries as well as a wider service portfolio. For
more information, please see Post
This week, Europe’s first road-worthy autonomous delivery-bot was
shown in action at the Connected and Autonomous Vehicle (CAV) Scotland
event in Glasgow. The autonomous electric Kar-go delivery vehicle uses
artificial intelligence to remove up to 90 percent of the cost
associated with the last mile of goods shipment. Kar-go can drive on
unmarked roads and is able to operate 24 hours a day, seven days a
week. Customers can choose to get their package delivered when they
are ready to receive it and can track Kar-go’s development towards
their location using an app. For more details, please click here.
On Monday, Chinese e-commerce giant’s Alibaba and JD.com reported
approximately $70 billion in sales on Singles' Day. Singles' Day,
originally conceived as an alternative to Valentine’s Day, is the
busiest online shopping day in the world. It is also a marketing
extravaganza. This year Alibaba opened the event with a concert from
Taylor Swift. Retailers offered discounts on products ranging from
smartphones to health care packages. For more details, please see AP News.
Amazon has announced plans to expand operations in Las Vegas with the
intention to create an additional 125 corporate jobs in the city. To
accommodate this expansion, Amazon opened a new 30,000 square foot
office in downtown Las Vegas. For more information, please see Post
Manufacturers, exporters and any commercial entity that ship goods
internationally must abide by export regulations. These include
screening all parties to the transaction against restricted party
lists, validating that the country of destination or that parties to
the transaction are not subject to sanctions or other embargoes, and
ensuring that the licenses are valid and correct where required.
Export regulations do not simply control the movement of goods, but
can also apply to the sharing of information. The United
Statesrequires manufacturers and other entities to abide by “deemed
export” laws when sharing certain technology with, or disclosing
information to, foreign nationals based in the US. In this QAD
Precision Report we look at the “deemed export” laws of the United
States and what these restrictions mean for manufacturers and
universities. To read the full report, please click here.