Hong Kong customs officers arrested 13 people, including four aged 18 and under, and seized over HK$159 million in counterfeit merchandise during an eight-week World Cup operation. Authorities expressed concern over a rise in young people involved in online sales of fake items.
Hong Kong customs officers arrested two women at Lo Wu and Lok Ma Chau checkpoints for smuggling a dog valued at HK$3,000 and two endangered birds worth HK$5,000. The birds are protected under international and local laws.
The Chhattisgarh High Court ruled that a vehicle cannot be confiscated under the Excise Act solely on the assumption of exceeding legal liquor limits. The court upheld a Sessions Judge's order to release a Scorpio, stating there was no proof that the seized liquor bottles exceeded the legal limit.
India's state-owned oil marketing companies (OMCs) are expected to see improved profitability due to lower crude oil prices, boosting fuel marketing margins, despite concerns over rising debt and uncertain fuel tax policies, according to a JP Morgan report.
Australia's publishing industry faces pressure to release books quickly, often sacrificing quality for speed. Authors report rushed production, poor editing, and a crowded market, leading to concerns about the erosion of literary standards and the sustainability of the industry.
India's Oil Minister Hardeep Singh Puri suggested petrol and diesel prices may decrease as cheaper crude oil arrives. He defended current prices, noting limited increases despite global volatility and government excise duty cuts, while OMCs face daily losses.
India has increased the windfall tax on diesel and aviation turbine fuel (ATF) exports for the fortnight starting June 16. The special additional excise duty on diesel is now Rs 14 per litre, and on ATF is Rs 12.5 per litre. The duty on petrol exports remains Rs 1.5 per litre.
Australia's Prime Minister Anthony Albanese indicated the government may extend the temporary fuel excise cut to ease motorist costs, influenced by the Middle East conflict and a new peace deal between the US and Iran. The cut, initially set to end June 30, is being re-evaluated.
Australian PM Anthony Albanese indicated openness to extending the temporary fuel excise cut, citing ongoing Middle East conflict impacts. A peace deal between the US and Iran to reopen the Strait of Hormuz was welcomed, but normal oil trade is expected to take months.
Workers removed Donald Trump's name from the Kennedy Center in Washington DC after a judge rejected an emergency appeal. The removal followed a legal challenge arguing the name was illegally added, with a judge ruling only Congress can change the venue's name.
Workers removed Donald Trump's name from the Kennedy Center facade early Saturday after a judge rejected an emergency appeal to block the removal. The name was added last December by Trump's board but a judge ruled it was illegally added, ordering its removal.
Hong Kong customs arrested six people over the alleged smuggling and online sale of counterfeit Fifa World Cup merchandise, valued at HK$156 million (US$20 million). The operation seized 230,000 items, including jerseys, shoes, and bags.
India has abolished central excise duty on petrol blended with higher levels of ethanol (22-30%). This move aims to encourage greener transportation and potentially lower fuel prices for consumers.
Hong Kong customs arrested six people for smuggling and selling counterfeit Fifa World Cup merchandise worth an estimated US$20 million. The operation seized 230,000 items, including jerseys, shoes, and bags.
India has waived excise duty on E22, E25, E27, and E30 ethanol-petrol blends to promote ethanol usage. This move supports the government's plan to establish 500 ethanol fuel stations by 2026, amid rising fuel prices due to the Middle East crisis.
Hong Kong customs arrested a 39-year-old truck driver and seized HK$10 million (US$1.27 million) in smuggled goods, including weight-loss injections and fish maw, at the Hong Kong-Zhuhai-Macau Bridge crossing.
Italian Economy Minister Giancarlo Giorgetti announced a ministerial decree will be used to extend fuel excise tax discounts beyond their June 6 expiry, avoiding a full cabinet vote. He also stated that any available fiscal space for energy support would be carefully evaluated to aid families and businesses.
Italy's Economy Minister Giancarlo Giorgetti announced that fuel excise tax cuts, expiring June 6, will be extended via a ministerial decree, not a Council of Ministers measure. He also mentioned evaluating new EU flexibility on energy spending to support families and businesses.
Italian Economy Minister Giancarlo Giorgetti announced a ministerial decree will be used to extend energy excise duty discounts beyond their June 6 expiry, avoiding a full cabinet vote. He also stated that any available fiscal space from EU allowances will be carefully evaluated to support families and businesses.
Russia's Deputy Finance Minister Alexey Sazanov announced that discussions are underway with the Ministry of Industry and Trade regarding a potential excise tax on imported steel. A final decision is expected in the fall, coinciding with the budget process.
Russia's Finance Ministry is considering an excise tax on imported steel, with a decision potentially made by autumn. Discussions are ongoing with the Ministry of Industry and Trade regarding the scope and feasibility of the measure.
The European Commission is set to recommend that Italy's broad energy cost mitigation measures be replaced with targeted support for vulnerable households and energy-intensive firms, citing fiscal inefficiency and echoing IMF concerns. Rome seeks fiscal flexibility to address rising costs, but Brussels emphasizes the need for temporary, targeted aid compatible with fiscal discipline.
India's Finance Minister Nirmala Sitharaman stated the government is open to discussing concerns from investors regarding Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG) taxation. She also defended recent fuel price hikes due to global crude costs and highlighted monitoring of 'three Fs': fuel, fertilizer, and forex.
India's Finance Minister Nirmala Sitharaman stated that reducing excise duties on petrol and diesel would result in a revenue loss of approximately Rs 1 lakh crore. She urged against 'fearmongering' amid rising fuel prices and global uncertainties, emphasizing the nation's economic resilience.
