I walked through a small duty-free section, which was much the same as any duty-free section.
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The Lotte's duty free operator, Lotte Duty Free, last Thursday said a cyber attack using Chinese internet protocol (IP) addresses had crashed its website.
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Hotel Lotte, which had earmarked 13 trillion won ($1.45 billion) of its IPO proceeds to grow its duty free operations overseas, said it would continue to pursue expansion of its local duty free business and new overseas duty free locations despite the pulling of its listing plan.
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Through Lotte Duty Free, Hotel Lotte is the world's third-largest operator of duty free retail outlets - a business that accounted for 86 percent of its first-quarter revenue.
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Lotte Duty Free - the country's biggest duty free operator - is even considering closing its flagship store in Incheon International Airport, after incurring its first quarterly loss since the 1980s this year.
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Unlisted King Power Duty Free won two duty-free concession contracts and retail concessions at four major Thai airports, including the country's main international airport Suvarnabhumi, AOT said in a statement.
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The courts declared it was art — and duty free.
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SEOUL (Reuters) - Five bidders covet three lucrative downtown duty free licenses to be issued by South Korea on Saturday, and arguably none is more desperate for a win than Lotte Duty Free.
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Security ends in the duty free shop — always be selling.
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South Korea overtook the United Kingdom as the world's largest duty-free market in 2010, and has seen duty-free sales nearly double in the past four years to 9.2 trillion won in 2015.
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A potential acquisition of a U.S duty free operator worth 1.7 trillion won ($43 billion) is in doubt now that the IPO has been pulled, a Lotte Duty Free official told Reuters on Tuesday.
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King Power Duty Free Co Ltd, owner of the English Premier League's Leicester City Football Club, currently holds the licenses for duty-free retail and commercial activity at Suvarnabhumi Airport, both expiring in 2020.
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Lotte Duty Free, the largest division of Hotel Lotte by sales, said that Shin, 73, had stepped back from operations at the company in 2012 and was not in position to influence duty free operations.
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So JEEPA ended up with a compromise: a duty-free quota.
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I get sucked into a duty free to buy more chocolate.
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The website of Lotte Duty Free crashed after a cyber-attack.
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Applications for new duty free licenses are due by Oct 4.
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The trial will start at next week's Dubai Duty Free Championships.
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One such risk is losing out on a duty free licence.
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Lagardère Travel Retail completed the acquisition of International Duty Free (IDF).
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South Korea's customs agency will decide the winners of three new duty-free licenses for large companies in Seoul on Saturday, adding new stores to the world's largest duty-free market worth $7.9 billion last year.
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Honolulu's airport offered some of the best duty-free prices on liquor and tobacco products, while John F. Kennedy International Airport in New York City had some of the best duty-free prices on cosmetics and fragrances.
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Chile currently allows Bolivia duty-free access to the port of Arica.
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No wonder the duty-free shops sell those massive bottles of whiskey.
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Droppings cover seats in the departure lounge near a duty free shop.
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Narrator: Often, the first thing you see after security is duty-free.
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I'm a big fan of Diptyque, which I discovered at duty-free.
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Lotte Duty Free declined to comment further as the investigation was ongoing.
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But public debate has increased over the single duty-free operator structure.
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Prosecutors raided the home of Shin Young-ja, daughter of the Lotte Group's founder and head of the Lotte Foundation, as well as offices of Lotte's duty free operation on Thursday, a Lotte duty free spokesman has said.
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I stop at Duty Free to buy favorites I can't get at home.
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Homemade beers and wines are already legal and duty-free in the bloc.
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There will be 55,000 square meters (592,000 square feet) of Duty Free shops.
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Other suitors include Charoen Sirivadhanabhakdi's TCC Group, and duty-free retailer King Power.
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Up for auction is a license to sell duty free goods at airports in Chiang Mai, Hat Yai and Phuket, as well as at Suvarnabhumi, the country's main airport accounting for 82 percent of the four's daily duty-free sales.
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The self-made businessman Vichai founded Thai duty-free giant King Power in 1989.
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In their duty-free sections no knock-off cigarettes or booze are in sight.
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I spent 24 hours just walking around duty free stores and eating s–t.
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Ismail said new entrants would be able to import machinery for plants duty free.
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He secured a near monopoly on duty free goods as tourism in Thailand boomed.
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There's duty-free shopping on board, but it's only available when in international waters.
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Dufry runs more than 2,200 duty-free and duty-paid shops across five continents.
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It began as a duty-free "common market," but it has become much more.
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Flying United: My condolences, but at least you are earning a United leg towards a status increase" — and suggests taking advantage of duty-free stores in the airport before returning stateside — "Buy something in Duty Free, because you're awesome and you deserve it!
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He played an instrumental role in signing Dubai Duty Free, an airport retailer, as title sponsor through 2018, as did McIlroy's caddie, J. P. Fitzgerald, who has a longstanding relationship with Colm McLoughlin, executive vice chairman and chief executive of Dubai Duty Free.
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The refugees get occasional monitored walks through the duty-free store to stretch their legs.
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I stop by Duty-free to buy a bag of chocolates for my office ($2130).
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AGOA grants qualifying countries duty-free access to the U.S. market for thousands of goods.
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Asiana Airlines gained 3.1 percent and duty free store operator Hotel Shilla rose 2.8 percent.
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Some duty-free counters at big department stores deposit tax refunds directly into AliPay accounts.
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With EPAs, the EU grants full duty-free and quota-free access to its market.
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Or the amaro someone picked up at the duty-free shop in the Milan airport.
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Camera maker GoPro would be able to import 31 types of camera accessories duty-free.
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On Thursday, another hacking attack shut down its duty-free shop's website for several hours.
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The men's room is stocked with enough cologne options to open a duty-free shop.
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The store is key to the group's ambition to become the world's biggest duty-free operator.
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South Korea is the world's largest duty free shopping destination, although the market is increasingly crowded.
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Camera maker GoPro Inc would be able to import 31 types of camera accessories duty-free.
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Sometimes Ballantine whiskey, 30 years old—but never from a duty-free shop; directly from Scotland.
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Shinsegae Duty Free in Seoul's Myeongdong area popular with Chinese has been making preparations since July.
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Chinese duty free customers accounted for 28 percent of total sales, while Russians represented 9 percent.
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Ms. Kamin suggested you bring a carry-on suitcase with extra space for duty-free wine.
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After security, you're greeted by duty-free stores, which are designed to make you spend money.
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In the aftermath of the devastating earthquake, most Haitian textiles began entering the US duty-free.
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"I had a good feeling out there," she told reporters at the Duty Free Tennis Championships.
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The Korea Duty Free Shops Association has asked regional airports across the country for rent discounts.
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For example, we go to New Zealand, talk to the NZ government, whether it is possible that the NZ small business sell their products to China if they sell less than one million US dollars a year, China government should give them duty free, tax duty free.
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I had my obligatory Duty Free experience in Sydney, which is to say that I was channeled through a Duty Free store rather than opting to enter it, and so was exposed to all the familiar brands I had seen a day earlier under similar duress.
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Carmakers there will face a choice if they want to continue benefiting from NAFTA's duty-free treatment.
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The duty free business, which accounts for most of Hotel Lotte's revenue, ranks third globally by sales.
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So, across from the Duty Free and next to the Irish Coffee bar at the airport. Perfect.
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It also points out that Bolivia already has duty free access to the Chilean port of Arica.
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Those booking air-side (located near Duty Free) don't have to leave the airport after they deplane.
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India's government has allowed duty-free imports as recently as 2016, when the 181,000 tonnes were imported.
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One problem is duty-free booze, which is bought in the departure lounge and consumed on planes.
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How much duty-free access to the European single market will there be, and for what sectors?
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The draft U.S.-Canada-Mexico Agreement leaves significant room for Canadian plants to grow exports duty-free.
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However, it's like taxing the import of flour, sugar and cacao, while baked goods remain duty-free.
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And while duty-free means foreign taxes on goods are removed, this doesn't necessarily mean they're cheaper.
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And I usually do all my shopping at the duty-free, so I keep trying new things.
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Some airports offer their own large selection of duty-free products you can't get in the country.
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I walked around duty free for a bit, then went to check out the first-class lounge.
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Firms engaged in duty free business also closed down; Shinsegae Inc , down 33 percent, led the fall.
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The country now receives preferential treatment, allowing more than 6,200 products to enter the bloc duty free.
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Whether he can hit a similar jackpot with the group's duty-free business remains to be seen.
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Under the GSP program, India exports $5.6 billion worth of goods to the United States duty free.
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The world's third-largest duty-free operator said in a statement it will use the IPO funds to expand its domestic and overseas business to become the world's No. 1 duty-free operator, one of Asia's top 3 hotel chains and among the top five global theme-park operators.
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Zach Griff, an analyst at the travel website The Points Guy, collected data from 50 different airports around the world, including 14 in the U.S., to determine which duty-free shops offer the cheapest prices on the most popular duty-free product categories — liquor, cosmetics, fragrances and tobacco products.
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Beijing has helped, opening duty-free zones around the country and cracking down on dishonest local tour operators.
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"We were able to ship virtually all of our household belongings to Belize duty-free," said Clive Brewster.
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Some 22017 percent of duty-free stores and luxury stores in those countries also take the payment method.
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Electronics shops in the duty-free area are no doubt hoping that sales of replacements will catch fire.
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Excluding Hong Kong, its sales rose 1.3%, boosted by sales at duty free and other travel-retail stores.
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Then I went to Sweden and bought this in duty free, mainly to see what it tasted like.
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Hybrid vehicles enter the country duty-free and, unlike most cars, are exempt from an air-pollution tax.
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Mexico is said to be looking at a duty-free trade pact on corn with Argentina and Brazil.
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Below the cap, vehicles that comply with new, tougher regional content requirements could enter the U.S. duty-free.
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The EU then warned that it would strip Cambodia of its "Everything but Arms" duty-free trading access.
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Hun Sen this month threatened to retaliate against the opposition if the EU withdraws duty-free trading access.
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At 86, Chuck Feeney, the co-founder of Duty Free Shoppers Group, is technically no longer a billionaire.
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The business world remembers him as the retail entrepreneur who grew Thailand's huge King Power duty-free chain.
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It hits all the familiar island-vacation themes: white-sand beaches, high-rise hotels, duty-free shopping malls.
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Pernod Ricard posted a 1.3% rise in first-quarter underlying group sales amid weakness in duty free purchases.
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Last week, Kenin fell at the first hurdle against Elena Rybakina in the Dubai Duty Free Tennis Championships.
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"It was a surprise, to be honest," Djokovic told reporters ahead of the Dubai Duty Free Tennis Championships.
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Namibia's exports will also benefit from a duty-free regime under the African Growth and Opportunity Act (AGOA).
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The lounge is located right above customs on the second floor and duty free on the first floor.
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Namibia's exports will also benefit from a duty-free regime under the African Growth and Opportunity Act (AGOA).
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Chile currently allows Bolivia duty-free access to the port of Arica, near its northern border with Peru.
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Of the four licenses to be issued in Seoul this year, large companies such as Lotte Duty Free, the world's third-biggest duty free operator, will be able to compete for three of them, while one will be reserved for a smaller operator, Korea Customs Service said at a briefing.
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Norwegian Joy will also have hovercraft bumper cars, a multilevel green park and a luxury duty-free shopping area.
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"#Duty Free," she captioned a photo of one of the news hits, followed by three crying-laughing face emojis.
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Reuters reported Thursday a cyber attack using a Chinese internet protocol addresses crashed the website of Lotte Duty Free.
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South Korean airlines and tourism operators have also experienced discriminatory tactics from China, hitting the country's duty free market.
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In return, Lin received discounted liquor from diplomatic duty-free shops and tax-exempt electronic device purchases, prosecutors said.
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"[Sri Lanka was] duty-free to the E.U., and due to various reasons, we lost [the status]," he said.
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So on March 29th Mr Trump said he would suspend duty-free access for Rwandan apparel in 60 days.
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A six-story shopping complex, catering to mainlanders and billed as Asia's largest duty-free mall, opened in 2014.
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Mr. Chauvet pointed to the luxury brand Marc Jacobs and the duty-free business Miami Cruise as potential disposals.
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King Power was granted the duty free concession in 2006 by the government of then Prime Minister Thaksin Shinawatra.
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He kept ordering Bloody Marys, which he'd supplement with duty-free vodka he bought at the San Juan airport.
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Russia worries that goods entering Kazakhstan duty free via the special trade zone will end up flooding Russian markets.
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The expansion of Suvarnabhmi airport will increase commercial and duty free space up for auction by around 70 percent.
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The European Union then warned that it may strip Cambodia of its "Everything but Arms" duty-free trading access.
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United also removed duty-free products on board to save even more: $2.3 million, according to a company note.
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As a result, writes the CBO, fewer companies in the USMCA partnership will qualify for duty-free import status.
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And they go to airports, so we have now good merchandising now at the duty free shops in the airports.
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He has accused Mexico of importing auto parts from China for vehicles it shipped duty-free into the United States.
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When we got to the islands, we found out they were a duty free zone, which means you are searched.
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Not long after passing through with food, crew passed through the aisle to sell duty-free items and scratch cards.
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But the scandal had already derailed the hotel IPO just as money was draining out of the duty-free business.
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Sales are boosted by South Korea's duty-free market - the world's biggest - which caters especially to big-spending Chinese tourists.
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India was the biggest beneficiary of the scheme, which allowed duty-free exports of up to $5.6 billion, per Reuters.
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The father of four and founder of duty-free King Power International was a huge favorite with the club's fans.
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"Gaza was like a duty-free zone, with Egyptians coming to buy goods brought by merchants from Lebanon," he recalled.
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He declined to say how much money he and his father, club owner and duty free magnate Vichai, would spend.
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In March, the U.S. said Turkey would lose its trade status allowing exports to enter the United States duty-free.
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AGOA means that goods from international brands that are manufactured in Africa can be exported to the U.S. duty free.
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You even notice that, in some airports, London Heathrow, for example, walking paths in duty-free veer to the left.
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Be smart: 21,000 petitions have flooded the U.S. Commerce Department asking to continue importing metals on a duty-free basis.
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Yet for items with high taxes outside the airport — like alcohol and tobacco — duty-free could be a good bet.
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The country now receives preferential treatment, allowing more than 6,200 products from the Philippines to enter the bloc duty free.
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The duty free section was practically empty, and I saw far more airport staff members then I did other travellers.
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Companies with factories in Mexico have been all too content with exporting vehicles and parts, duty free, back up north.
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For fragrances, the best duty-free prices can be found in Spain's Madrid Barajas, Portugal's Porto Airport and London's Heathrow.
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For example, the deal would allow 180,000 tonnes of duty-free carcass weight equivalent (CWE) of poultry exports from Mercosur.
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And since the company in Belize purchased it outside the country, we were also able to get it duty-free, too.
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Federer has withdrawn from the ABN AMRO World Tennis Tournament in Rotterdam and the Dubai Duty Free Tennis Championships in February.
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According to the Yonhap news agency, more than 70% of duty free shops are dependent on Chinese tourists for the business.
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The checklist states that the shipment will stop at the Duty Free shop at the border for an escort switch-over.
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If it does not concede by the end of this month it faces losing duty-free access for its garment exports.
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Business groups largely praised the new agreement, which maintains Canada's duty-free access to the huge and profitable North American market.
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On Monday, Lotte Duty Free said Shin, 73, stepped back from operations in 2012 and was not in position of influence.
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This allowed the units to be imported duty free as parts, rather than as completed systems that were subject to tariffs.
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Hotel Lotte's IPO hit another hurdle in November when it lost a downtown Seoul duty free store license to a competitor.
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Diverting contracts to favored partners or seeking government licenses to enter into duty free business are examples of other typical scandals.
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Another license up for auction in May is for non-duty-free commercial activity at Suvarnabhumi, which also expires in 2020.
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There, still within the EU, the machines can be built with cheap Polish labor and shipped in, duty-free, to France.
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As part of the deal, Brazil was included in a duty-free quota of 64,800 tonnes per year with other countries.
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Lee Jong-heung, who managed a brewery, a restaurant and duty free shops, says he invested around $6 million in Kumgang.
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"In total the duty-free exports will rise from $150 million to $420 million, an increase of over 180%," he said.
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The U.S. has already raised the dollar amount at which goods may enter our country duty-free from $200 to $800.
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The duty-free business is a major beneficiary of a tourism boom in Thailand where 2018 arrivals exceeded 38 million people.
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The focus has been on the rules governing production of autos that would receive duty-free treatment under the new treaty.
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A glossy prospectus details plans for offices, factories, duty-free shops, tourism developments, an international bus station and a golf course.
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Lotte's woes could also hinder Hotel Lotte's bid to win back a lucrative license for a downtown Seoul duty free shop.
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Slotnick: Duty-free can be a great savings if you buy something like alcohol or cigarettes, which are usually highly taxed.
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After you're through duty-free, you find yourself in the main shopping area, surrounded by even more dining and spending options.
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The manufacturers enjoy duty-free concessions on the imports of leather to be used in the manufacturing of shoes and bags.
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Korean Air Line lost 1.16 percent and Hotel Shilla, which operates hotels and a duty-free retail chain, fell 3.01 percent.
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It was a full, exhausting day — the duty-free shopping and $4 cappuccinos of Amber Cove were almost a welcome sight.
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It expanded a decade later, after the Chinese government set up a duty-free zone for overseas manufacturers in the city.
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Under a trade program known as Everything But Arms (EBA), all Cambodian exports to the EU are duty free except arms.
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One of the few places that exists outside of these borders are airport duty-free zones; these areas are technically stateless.
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He added that the government was seeking a preferential, non-reciprocal trade deal, giving Kenyan exports duty free access to China.
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Canadian health officials issued their own joint recall as well, noting that some units were sold in airport duty-free shops.
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The duty-free business is a major beneficiary of Thailand's tourism boom, which saw more than 38 million arrivals in 2018.
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There are a couple of cafés on board and a megastore that resembles a big Duty Free shop at the airport.
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The exhibition opens with the bold and vaguely sarcastic installation, "Happy Smilers: Duty Free Shopping" (1996), which occupies an entire room.
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The bride's father retired as the in-house counsel of the DFS Group, a duty-free retailer based in Hong Kong.
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You're jet-lagged, hungry, weighed down with overstuffed carry-on and duty-free bags, and in desperate need of a shower.
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He stripped India of special trade status that had given duty-free status to billions of dollars worth of Indian exports.
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Founded in 3003, General Atlantic was originally the family office of Chuck Feeney, who made a fortune on duty free shops.
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Most businesses in the duty-free complex are owned and staffed by Chinese citizens and patronized by a predominantly Chinese clientele.
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I busied myself with "Temptations," but found it to be basically the same as any other in-flight duty-free catalog.
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Meanwhile, Cathay Pacific has announced that it would stop offering in-flight hot towels, pillows, blankets, magazines, and duty-free sales.
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Once through security — and past the many duty free shops and luxury retailers — we went straight to the business-class lounge.
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Despite its name, Hotel Lotte's biggest cash-spinner is duty free shopping which accounted for 86 percent of first-quarter revenue.
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Hamad airport will lose fees paid by airlines and passengers, as well as terminal revenue from duty free shops and restaurants.
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The beef industry has thrived on NAFTA and wants to continue to have duty-free access to Canadian and Mexican markets.
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However, it also wants to maintain existing duty-free access between the three countries in both the agricultural and manufactured sector.
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This allowed the units to be imported duty free as parts, rather than as completed systems that were subject to tariffs.
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Budget airlines typically fly shorter intra-European routes and their passengers spend less in duty-free shops compared to long-haul passengers.
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Jackson also singled out the stocks of duty-free stores in Japan, which have been riding on the back of such sales.
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Many of the goods crossing at Busia are local farm produce, which can generally move duty-free within the East African Community.
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|
WASHINGTON (Reuters) - U.S. President Donald Trump on Friday reinstated duty-free trade for certain items from Ukraine, but suspended it with Thailand.
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Duty-free treatment will be revoked for all Thailand's seafood exports to the United States over labor issues, the USTR's office said.
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|
The companies have previously seen sales thrive in China as wealthy customers purchase luxury products at beauty stores and duty-free shops.
|
|
Hamad airport stands to lose fees paid by airlines and passengers, as well as terminal revenue from duty free shops and restaurants.
|
|
The duty-free business is a major beneficiary of a tourism boom in Thailand, where arrivals exceeded 38 million people in 2018.
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|
He began as an agent for luxury brands before investing in a duty free business in Hong Kong that he eventually acquired.
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|
The law limits the bargain-hunters to $22012-worth of duty-free goods a month; they, and the border guards, ignore it.
|
|
As police cars fly by, sirens blaring, a bottle of duty free mezcal is toppled and a smuggled-in weed pen emptied.
|
|
In 85033, almost 70 percent of U.S. imports crossed into our borders duty-free, with our average tariff rate at 1.4 percent.
|
|
Forty-six percent of U.S. tariff lines, 50 percent of Mexico's and 76 percent of Canada's are duty-free under the WTO.
|
|
The U.S industry literally cannot afford to give Canada duty-free, quota-free access as long as the global overcapacity problem remains.
|
|
The rules will also apply to imported cigarette packets, as well as those being sold at duty-free shops at Indian airports.
|
|
Its skin-care division was a bright spot, posting double-digit revenue growth in China and at duty-free stores at airports.
|
|
Globally, duty-free is a huge industry valued at over $473 billion in 2018, according to a report from Coherent Market Insights.
|
|
There are a ton of duty-free shops onboard as well as in ports peddling the usual watches, jewelry, alcohol, cigarettes, etc.
|
|
Since the implementation of NAFTA, 100 percent of U.S. manufacturing exports and 97 percent of U.S. farm exports enter Canada duty free.
|
|
The program allows duty-free importation of raw materials, supplies, and machinery into Mexico in order to produce products for international export.
|
|
Even before Nafta, assembly plants known as maquiladoras imported parts duty free and sent the finished product back to the United States.
|
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Sales at some duty-free stores and other businesses, where Chinese account for 80 percent of the clientele, have plummeted, she said.
|
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After security, most airports force people to walk through the duty-free shop, increasing the chances they will find something they want.
|
|
One of the best-known spend-down foundations is the Atlantic Philanthropies, created by Chuck Feeney, who helped found Duty Free Shoppers.
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In 1984, he secretly transferred all of his assets, including his 38.75 percent ownership of the duty-free business, to Atlantic Philanthropies.
|
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They don't have my kind in the duty free, so I bring them with me from the states when I go overseas.
|
|
Both Lotte and SK had lost valuable licenses to run duty-free shops in 2015 and lobbied to regain them last year.
|
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Then came "Duty Free Glamour," which featured flight-attendant uniforms and khaki jackets plastered with "Jeremy Scott"—a riff on logo-mania.
|
|
A treaty in 1875 gave Hawaiian sugar duty-free access to the United States; in return the United States took Pearl Harbor.
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Its services division includes duty-free shops, catering, and IT companies, a business model similar to that of South Africa's Bidvest Group.
|
|
The latest shoplifting allegation involves the theft of a shirt at a duty free shop at Buenos Aires' international airport on Dec.
|
|
The probe has already derailed a planned initial public offering (IPO) for Lotte's hotel and duty free unit worth up $4.5 billion.
|
|
The moves came following news that Lotte Duty Free was weighing a decision to withdraw from Incheon International Airport in South Korea.
|
|
Those TVs are then exported across the U.S. border duty-free because they are included in the North American Free Trade Agreement.
|
|
We also stop at the duty free shop for S to grab some beers, since this is the cheapest place to get them.
|
|
On Thursday, Lotte Duty Free said a cyber attack using Chinese IP addresses had crashed the Chinese version of its website on Wednesday.
|
|
A sharp drop in production there due to back-to-back droughts drove the country to allow duty free imports of the sweetener.
|
|
Hwang said the planned initial public offering of Hotel Lotte would depend on its key duty-free business recovering from the "THAAD effect".
|
|
The poorest countries, like Tanzania, already enjoy duty-free and quota-free access to the EU under an initiative called "Everything But Arms".
|
|
Annual duty-free U.S. beef exports to the EU are expected to nearly triple to $420 million as a result of the deal.
|
|
I'm running low on moisturizer and make a note to pick up more the next time I'm at the airport (yay duty free).
|
|
To counter unofficial re-sales, Korea's Customs Service is considering setting a 50 product limit for duty-free buyers, a customs official said.
|
|
Analysts say this could dent sales by smaller firms, but note that bigger companies already limit duty-free purchases to control store inventory.
|
|
It offered its loyalty to the new state in return for various concessions, including the right to import alcohol and tobacco duty-free.
|
|
The United States is seeking to entirely eliminate or reduce barriers for U.S. agricultural products and secure duty-free access for industrial goods.
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|
He navigated Thai political turmoil and secured the King Power duty free concession that gave him a fortune estimated at nearly $5 billion.
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And then beyond that we said we want to look at countries which have duty-free options and are the future of manufacturing.
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As a wealthy rock star, you definitely should not have simply handed over the booze and bought some duty-free on the plane.
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By Canadian law, art could be imported duty-free, but had to be confirmed as an "artwork" by an expert in the field.
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Two palm oil traders confirmed that they have sold palm olein from Bangladesh to India as a duty-free product under the SAFTA.
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Lotte's second-largest duty free shop made about 611 billion won in 2015 sales but its licence expires at the end of June.
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The cases are C-20/15 P Commission v World Duty Free Group, C-21/15 P Commission v Banco Santander and Santusa.
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It also holds a license to operate collection counters for duty-free goods bought elsewhere, as well as other licenses covering other airports.
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For more click * Dufry said its subsidiary Hellenic Duty Free Shops and Fraport Greece signed a 30-year contract covering 14 Greek airports.
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According to the executives at travel agencies, restrictions on including Lotte Group units, such as Lotte Duty Free, in tour packages also remain.
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And the higher rule of origin in NAFTA protects them because content must be U.S., Canadian or Mexican to receive duty-free access.
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The customs agency that awards duty free licenses has said it would judge bidders on criteria including their charitable record and public opinion.
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The USMCA maintains duty-free access for U.S. manufactured goods and removes existing barriers for remanufactured goods, opening new markets for American products.
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He has even gone as far as proposing a 30-kilometer duty free zone along the US-Mexico border to increase border trade.
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The change will provide that nation with the opportunity to export about 5,000 products to the United States duty-free, according to USTR.
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Eastern Europe is now its own region, whereas before, it was grouped with the Middle East and Africa Region and PMI Duty Free.
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Under the North American Free Trade Agreement, the U.S. has duty-free and quota-free access for milk protein substances, including diafiltered milk.
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Can selling tickets bring in the same amount of revenue as selling goods in a duty-free shop of around the same size?
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King Power currently holds the sole license for duty-free retail, commercial activity and pick-up counters at all of Thailand's major airports.
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But while sales of duty-free beauty products have been rising over all in recent years, the proportion spent on scent has declined.
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In return, Lotte's chairman, Shin Dong-bin, wanted government help in regaining a license to run lucrative duty-free shops, the court said.
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They have also smuggled liquor, cigarettes, luxury cars and anything else that can be imported duty free and then sold at a gain.
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Srivaddhanaprabha traces his wealth to his King Power International, a company based in Bangkok that operates duty-free shops at airports in Thailand.
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That the duty-free heiresses, the cream of young society, were climbing out of an S.U.V., not a Mercedes limousine, was a tell.
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One is through duty-free access to the U.S. market for some of its goods through the Generalized System of Preferences, or GSP.
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That program had allowed billions of dollars of Indian products, including apparel and auto parts, to come into the United States duty free.
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"For the upcoming duty free licence, the bribery (probe) will have an impact," said Park Ju-gun, head of research firm CEO Score.
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Additionally, a percentage of vehicles imported duty-free must be made in a place where employees make an average of $16 per hour.
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The U.S. would also like to raise the level of duty-free import limits for e-commerce to the U.S. level of $800.
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Lee Boo-jin, Mr. Lee's sister and the country's richest woman, runs the Samsung affiliate Hotel Shilla, which also operates duty-free shops.
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He spent his days in silence, eating duty-free Ferrero Rocher chocolates and bouncing the strings of Marcia's squash racket against his skull.
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That the duty-free heiresses, the cream of young society, were climbing out of an S.U.V., not a Mercedes limousine, was a tell.
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India is the biggest beneficiary of the GSP, which allows preferential duty-free imports of up to $5.6 billion from the South Asian nation.
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Not only is it a major international transit port but the city is also host to LME warehouses, albeit sitting in duty-free zones.
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"The groups are getting bigger, and the stories are scary, how far they've walked," said Piett, an inventory clerk at Emerson's duty-free store.
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Companies like Pleshkov's Thomas-Beton were permitted to import raw materials duty free to make products that could be sold back in mainland Russia.
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He wants to "strengthen the rules of origin" that set out how much North American content a product needs to cross borders duty-free.
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Khadar's winning number in the Dubai Duty Free Millennium Millionaire draw was pulled Tuesday at Dubai International Airport, netting him Dh3.67 million ($1 million).
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Most of the time, member Rym Jalali notes, the members are limited to whatever duty-free imports they've brought back from recent trips abroad.
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On Thursday, Lotte Duty Free, an affiliate of Korean conglomerate Lotte Group, said it had been the target of a suspected Chinese cyber attack.
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The unlikely triumph of Leicester City - owned by a Thai duty free magnate - last season has also boosted the appeal of less fashionable teams.
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The U.S. beef and hog producers also have benefited from duty-free access to Mexico's market under NAFTA, the North American Free Trade Agreement.
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The man in question claimed that he had bought them in a duty-free shop at the Guayana airport, where he was coming from.
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" Sky News correspondent Alex Rossi, who was in the airport's Duty Free area at the time, described the explosions as "having rocked the building.
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His interest in the duty free business began during his school days in Taiwan, because flights back to Thailand stopped over in Hong Kong.
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Currently, 62.5 percent of the value of an automobile must come from either the U.S., Canada or Mexico before it can enter duty-free.
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Besides its media businesses, Lagardere is also present in the travel retail business through duty free shops, and in hosting sports and entertainment events.
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Those who take Ryanair flights to Spain from Glasgow or Manchester are now told that they must put duty-free booze in the hold.
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Once duty-free sales of cigarettes and alcohol were banned outside airports in 1999, one-day trips all but vanished, denting France's market share.
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His list of improvements includes protecting intellectual property, adjusting Canada's diary tariffs and raising the dollar cap amount of duty-free goods to Mexico.
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The Mexican minister also signaled readiness for compromise on duty-free limits for e-commerce imports, a point of contention with the United States.
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Before boarding our flight to Kabul, we dashed to buy a couple of bottles of Johnny Walker whiskey at the airport's Duty Free shop.
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A household name in South Korea, Lotte operates department stores, duty-free shops, shopping malls, hotels, amusement parks, multiplexes, burger joints and coffee shops.
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"Quite frankly, it is difficult to improve upon duty-free, unlimited access to Canada and Mexico," testified National Cattlemen's Beef Association CEO Kendal Frazier.
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On other flights, Korean Air sells duty-free items such as alcohol and cosmetics in this mini shop at the back of the plane.
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Trump has already kicked India out of the duty-free Generalized System of Preferences program, but could turn up the heat further, Reinsch said.
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This way I don't have to carry a backpack while I talk myself out of buying any designer items since they are duty free.
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Cambodia at present gets a trade preference from the EU known as Everything But Arms (EBA), making all Cambodian exports duty free except arms.
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The administration should also allow existing contracts for purchases of aluminum or steel to go through duty-free to avoid project disruptions, they wrote.
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The protests come days after Lotte Duty Free on Thursday said a cyber attack using Chinese internet protocol (IP) addresses had crashed its website.
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King Power's current duty-free concession at Suvarnabhumi airport is set to expire in 2020, and the new concession will expire in March 2031.
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CROSS-BORDER TRADE The two agreed for Mexico to double its minimum duty-free shipment threshold, the so-called de minimis value, to $100.
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This means American textiles are sent to Mexico to be finished and then sent back to the U.S., duty-free, to be sold to consumers.
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Experts say some Mexican firms choose to pay WTO tariffs rather than follow complex procedures to get their goods into the United States duty-free.
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The move is a blow to the company's ambitious expansion efforts, which include a push to make its duty free retail arm the world's largest.
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The U.S. announced plans Monday to end the preferential trade status that allows $5.6 billion worth of India's exports to enter the U.S. duty-free.
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The new trade agreement struck by the United States, Mexico and Canada in September leaves significant room for Canadian plants to increase duty-free exports.
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Hotel Lotte is the world's third-largest operator of duty free retail outlets, a business that accounted for 86 percent of its first-quarter revenue.
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Many of the top competitors such as France have wines going into China duty-free but have a value-added tax of about 16 percent.
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The self-made businessman's duty-free company, founded in 1989, was granted an airport monopoly in 2006 under the government of Prime Minister Thaksin Shinawatra.
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Not just any cigarette, but Seven Stars, which came in slim yellow packs sold only in Japan and at duty-free shops at Narita Airport.
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That loophole allows companies outside the United States to ship solar panels into America duty-free provided the panels are made with U.S.-built cells.
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In 1947 a catering manager, Brendan O'Regan, set up the world's first duty-free shop at Shannon, allowing transit passengers to buy tax-exempt goods.
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But local press has reported that Waked International SA (WISA), one of the duty-free concessionaires at the airport, has been accused of money laundering.
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A U.S. proposal for Mexico and Canada to vastly raise the value of online purchases that can be imported duty-free from stores like Amazon.
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Their international tax-free shopping shot up 58% last year, according to a new report from Global Blue, a big operator of duty-free shops.
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It also exclusively operates China's cigarette exports business with sales in duty-free outlets in places such as Thailand and Singapore, its draft prospectus showed.
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He has also kicked Cameroon out of a programme which grants duty-free access to the US market to African countries that respect human rights.
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The U.S.-Mexico agreements contain solid provisions that go beyond Canada's previous commitments, like on low- value, duty-free trade, where Canada can show flexibility.
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Mr. Gove asserts that Britain could retain duty-free access to the bloc, which some European Union member states have said would not be possible.
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Every place does, more and more; or every place feels increasingly like every other place, a globe of placelessness, the world as duty-free lounge.
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Pharmacie Monge is not the only pharmacy in Paris to attract foreign shoppers with low duty-free prices, a large selection and a multilingual staff.
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A running battle ensued in which they and their crews traded blows, crashing through the cosmetics, perfume and chocolate shelves of a duty-free store.
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Duty-free means that you can buy items without paying the local VAT (value added tax), basically, it allows you to circumvent paying local taxes.
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South Carolinians can attest to the expensive damage to state coffers of cutting a deal with Amazon to allow the company to remain duty-free.
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Dos Santos said facilities at the port would include a duty free area and a ship repair yard, which the region does not currently have.
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He is, they point out, fond of basketball, ski resorts, amusement parks, duty-free shops, stylish professionally-dressed women, and new housing for the elite.
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While you always save money on taxes, prices for certain goods vary by airport and country, according to the price comparison website Duty Free Addict.
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Retail groups and anti-corruption activists have criticized single operator duty-free concessions, including at the country's main airport Suvarnabhumi, and called for multiple concessions.
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It's in the middle of the ship, surrounded by a Solera Beauty, Regallia Jewelry, some duty free glass cases, and a few bars and restaurants.
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Junior doctors, who earn a basic monthly salary of $329 before allowances, according to Ngwenya, were yet to get duty-free vehicles as agreed previously.
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Despite the suspension, Rwanda will maintain its other duty-free benefits under the African Growth and Opportunity Act (AGOA), America's flagship trade legislation for Africa.
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Lotte is an inescapable presence in South Korea, overseeing hotels, shopping malls, amusement parks, movie theaters, duty-free stores, coffee shops and fast-food restaurants.
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"There is no duty-free priced unwrought aluminium available to EU users and consumers," adds Roger Bertozzi, head of EU and Multilateral Affairs at FACE.
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So when the Americans insisted they were at the end, the Canadians would reply, no, actually there's still online duty-free shopping to work out.
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The host also warned that shares in Estee Lauder, which has duty-free shops in Hong Kong, could tumble beyond the 1% dip from Tuesday.
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It also extended its contract with RioGaleão for duty-free to 07003 and for its duty-paid business until 2021 at Tom Jobim International Airport.
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In 1960, he and a partner set up a company that sold items like brandy and cigars to travelers in duty-free shops at airports.
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Shipments of edible oils coming into India are also being designated as duty free under the regional free-trade pact, circumventing an import tax increase.
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Trade bodies, which expect textile imports from Bangladesh to rise further, have asked the government to introduce a rule of origin for duty free imports.
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Top-seeded Simona Halep rolled past Jennifer Brady 6-2, 6-0 on Friday to reach the final of the Dubai Duty Free Tennis Championships.
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Moscow used to send crude oil and oil products to Minsk with no export fee under a duty-free deal between Russia, Belarus and Kazakhstan.
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Moscow used to send crude oil and oil products to Minsk with no export fee under a duty-free deal between Russia, Belarus and Kazakhstan.
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The Swiss will defend his title at the Dubai Duty Free tennis championships next week before playing at next month's BNP Paribas Open in California.
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It will allow Canadians to buy more U.S. goods online duty-free and will also install a new regime of rules relating to digital trade.
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The de minimis threshold, the amount under which shipments can enter a country duty free, should be raised to help small businesses benefit from globalization.
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Its home, South Korea, is the world's largest duty free market, and is set to grow further by auctioning more five-year licences this year.
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It also told employees that it has eliminated duty-free products and reduced the amount of orange juice it carries on board for some flights.
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British Airways Executive Club members can now use Avios, its rewards currency, to select and purchase airline seats, make duty-free purchases and book cruises.
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Duty-free sales at Takashimaya Co's Osaka department store rose 13 percent in 2018, much slower than a 203 percent increase in the previous year.
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Russia, Belarus and Kazakhstan have a duty-free arrangement under which Moscow has been sending crude oil and oil products to Minsk with no export fee.
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However, a new trade deal that the United States, Mexico, and Canada struck in September leaves significant room for Canadian plants to grow exports duty-free.
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Mexico is allowing in duty-free U.S. pork under a quota system despite retaliatory measures taken after Washington imposed tariffs on Mexican steel and aluminum imports.
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Moise hopes two measures, known by their acronyms HOPE and HELP, which provide duty-free preferences for certain light manufactured goods, will help power the economy.
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A win on Saturday would allow the beleaguered South Korean conglomerate to reopen a Seoul mega-store and revive its goal of global duty-free dominance.
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Airport travelers shuffling between security checks and their boarding gate often grab duty-free perfume or a cut-price bottle of spirits before an international flight.
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Chinese inspectors have launched investigations into Lotte stores; on Thursday the duty-free shop unit said a cyber attack from Chinese internet addresses crashed its website.
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A descendant of Chinese immigrants, Vichai founded what became the King Power empire in 63 with a store in Bangkok selling duty free goods and souvenirs.
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The European Union could deny Sri Lanka duty-free access to its market if the island backs off its rights commitments, the grouping's envoy has said.
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If the "you break it, you buy it" rule applies at this duty-free shop ... these guys can expect a VERY hefty bill coming their way.
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"The remaining countries on Turkey's list qualifying for duty-free imports are Lithuania, Ukraine, Kazakhstan, Latvia, Bulgaria, Bosnia Herzegovina, France, Hungary and Canada," one trader said.
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For the owner, duty free magnate Vichai Srivaddhanaprabha, the priority is to ensure the club from central England and its supporters do not get carried away.
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Trump said in the first year duty-free U.S. beef exports to the EU will increase by 46% and over seven years will rise 90% further.
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In order to remain duty free, the USMCA increases the portion of a vehicle's parts that must be made in the United States, Canada or Mexico.
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The passenger who had remained only in the port, browsing the trinket shops, delighting in duty-free, would never have known this subtle but essential detail.
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Economic sanctions were directed at his assets, which included a string of duty-free shops, a department-store chain, and La Estrella de Panamá , the newspaper.
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If the United States eliminates duty-free access for about 2,000 Indian product lines, it will mostly hurt small and medium businesses, such as engineering goods.
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If you're traveling international and have some foreign currency left over, try heading to a duty-free store — or items bought in a country without tax.
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AOT on Monday released auction terms for a single duty-free license that included Suvarnabhumi in Bangkok and airports in Chiang Mai, Hat Yai and Phuket.
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Nothing in the text of the U.S.-Israel Free Trade Agreement (FTA), signed in 1985, however, extends duty-free treatment to goods produced in Israeli settlements.
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Canada will also be allowed to buy more U.S. goods online duty-free and will also install a new regime of rules relating to digital trade.
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G. passes me the Bioré make-up removing wipes and Ellips hair vitamin capsules that I asked her to buy for me from KLIA's duty-free.
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One example is beef sales to Japan, as beef will now enter duty-free from CPTPP countries, while U.S. beef will face a 85033-percent tariff.
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It greatly expanded the number of assembly plants in Mexico known as maquiladoras, which import parts duty-free and send finished products back across the border.
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However, a new trade deal that the United States, Mexico and Canada struck in September leaves significant room for Canadian plants to grow exports duty-free.
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A descendant of Chinese immigrants, Vichai founded what became the King Power empire in 1989 with a store in Bangkok selling duty free goods and souvenirs.
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I got through security as quickly as possible and went straight to the duty-free apothecary to buy tampons and met my family at the gate afterward.
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Nigeria and Ghana are preparing to offer automakers tax holidays of up to 10 years and duty-free imports of parts and components used in local assembly.
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The outbreak has killed over 21 people in China so far, and is leading to travel restrictions that could affect beauty sales in airport duty free lounges.
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To receive duty-free treatment under USMCA, 75 percent of a vehicle's value must originate in North America, up from the current 62.5-percent requirement under NAFTA.
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Duty-free prices varied wildly, from €7153 ($2715) for Michael Kors perfume, to €21 ($21.3) for a Hugo Boss watch, or €129 ($168) for Ray-Ban sunglasses.
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Once you add in flights, excursions, food and beverage off-resort, taxis, tips, souvenirs and duty-free purchases, you are probably looking at another $2000 to $3000.
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Lotte Duty Free, with 3.75 billion euros turnover in 2015, is currently ranked third globally following Dufry and second-ranked DFS Group, a unit of LVMH (LVMH.PA).
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Cosmetics makers, including Estee Lauder, have been thriving as affluent Chinese consumers splurge on premium makeup products and fragrances sold at beauty retailers and duty-free stores.
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Canada might consent to more onerous conditions for a vehicle to be imported duty-free within NAFTA, including on wages and the amount of North American content.
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On long-haul routes budget airlines may struggle to sell enough cans of Coke and duty-free perfume to make up the money lost on cheap fares.
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Expect to see more battles like this, for lilos and duty-free Smirnoff vodka cannot pay for all the terminals and runways that America and Europe need.
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Prayer mats are laid in the direction of Mecca beneath signs pointing to shuttered Duty Free shops and announcement boards offering eerie reminders of long-departed flights.
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Washington is reviewing Turkey's duty-free access to U.S. markets, while Ankara has imposed retaliatory tariffs on U.S. goods in response to American steel and aluminum tariffs.
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BANGKOK (Reuters) - Airports of Thailand Pcl will hold the auction for its biggest duty-free concession at Bangkok's Suvarnabhumi airport in May, the company said on Friday.
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AGOA (African Growth and Opportunity Act) grants qualifying countries duty-free access to U.S. markets for thousands of goods and South Africa is among the main beneficiaries.
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The gap between the local soyoil price and duty-free soyoil price is as high as 11,000 rupees ($160.80) per tonne, said Davish Jain, the SOPA chairman.
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Turkey has effectively halted purchases from Russia of wheat, maize (corn) and sunflower seeds by removing Russian items from a duty-free import scheme from March 29.
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According to Praew, he developed contacts at home and won lucrative concessions to run duty free shops from Airports of Thailand, the mainstay of his private company.
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Its maquila regime, established in the 1960s, allows firms to import materials for manufacture or repair duty-free, as long as they re-export the finished product.
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Given the administration's approach preserves NAFTA's duty-free trade terms, the corporate meltdown helpfully spotlighted the gap between NAFTA's "free trade" brand and the pact's actual terms.
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In the immediate post-Soviet era, Moscow tried to reinvent Kaliningrad, which is more than 43 miles from mainland Russia, as its own duty-free Hong Kong.
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The loss of duty-free treatment, which Thailand said would incur duties around $60 million a year for Thai products, has stirred a sense of anti-U.
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Choi Go-woon, an analyst at Korea Investment & Securities, said several conglomerates or a consortium of firms involved with duty free businesses might be interested in Asiana.
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They have enjoyed duty-free access in their big southern neighbor for decades and were not enamored with suddenly sharing that market with efficient producers from Japan.
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At the terminal, passengers can get their documents checked, collect their luggage, kick back in a small lounge, or go for a quick duty-free shopping trip.
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He feels embarrassed when all he has to show from one of his trips abroad is a souvenir T-shirt or a bag full of duty-free.
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Among its best features, the Trump plan seeks to "maintain existing reciprocal duty-free market access" for industrial and agricultural goods and to reduce non-tariff barriers.
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Country of origin regulations dictate how much non-NAFTA origin content that commodities can contain to qualify for duty-free movement within the North American trade zone.
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Sales at the duty free boutique in the Vancouver International Airport - a major thoroughfare for tourists visiting Canada from Asia - have already fallen by 03%, she said.
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Shops advertise Mandarin speaking salespeople, the United States and Japan offer 183-year visas, and hotels and duty-free retailers accept China's Alipay and WeChat Pay apps.
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Trump questioned the African Growth and Opportunity Act, which gives African nations "duty free access" to the U.S. market, though the relationship has created 120,000 American jobs.
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Last month, Mexico's deputy economy minister told The Financial Times that Mexico was exploring the possibility of allowing duty-free access to Argentine and Brazilian corn imports.
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Lighthizer held dozens of meetings on the Hill to narrow down the list of concerns from Democrats on everything ranging from seasonal produce to duty-free thresholds.
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It raises the percentage of a car or auto parts that must be made by a partner country in order to obtain a duty-free import status.
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Overall, The Points Guy found that duty-free shopping can definitely be worth it, but it might depend on which city and airport terminal you're traveling through.
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Its Dutch side, Sint Maarten, is predominantly English speaking and full of beach bars, big resorts, duty-free shopping, and casinos, as well as cruise-ship ports.
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The factories, which import raw materials from the United States and ship assembled products back across the border duty free, exported billions worth of goods last year.
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Clijsters, 36, had lost to Spain's Garbine Muguruza in her first match since returning to the WTA Tour at the Dubai Duty Free Tennis Championships last month.
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The deal will also allow Canadians to buy more U.S. goods online duty-free and will also install a new regime of rules relating to digital trade.
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AOT also plans to expand Bangkok's main airport, which will increase commercial and duty free space up for auction by around 0003 percent, increasing competition among retailers.
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The United States is aiming to secure duty-free market access for American industrial products and reduce or eliminate tariffs for U.S. agricultural goods, according to a statement.
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Duty free, including the launch of a website offering home delivery and if possible airport collection, with personalised deals is another good opportunity to raise revenue, he added.
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South Korea trails only Thailand as an overseas destination for Chinese travelers, whose heavy retail spending has helped make South Korea the world's largest duty free shopping market.
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If the United States eliminates duty-free access for about 2,000 Indian product lines, it will mostly hurt small businesses such as jewelry, said one of the sources.
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Package tours poured families from mainland China into the airport at Naha, the capital, for winter sun, duty-free malls and hearty stir fries—spam is a speciality.
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Cosmetics accounted for nearly half of the country's record duty-free revenue of 5.8 trillion won ($5.1 billion) in the first half of this year, customs data showed.
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"There are 18,000 products that will come out of the United States into TPP countries and those are going to be more or less duty-free," he said.
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This is hardly without precedent — airlines have attempted to capture consumer interest in the skies with onboard duty-free and other sales, as well as content for purchase.
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According to the document, the United States is aiming to secure duty-free market access for American industrial products and reduce or eliminate tariffs for U.S. agricultural goods.
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Fearing that she would soon be sent to a camp as an inmate, she sneaked into Kazakhstan illegally through Khorgos, a duty-free trade zone on the border.
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South Korea's duty free market generated a record 2.7 trillion won ($2.37 billion) in sales in January-March, up 21 percent from a year earlier, the agency said.
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The decision to add four more will take the number of downtown Seoul duty free stores to 13 by the end of 2016 from six a year earlier.
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On the way out of the country, Chinese tourists gravitate to duty free "and buy a ton of alcohol, smokes and gifts" to bring home, Ho tells Axios.
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In a letter to the U.S. Congress, Trump said Rwanda's duty-free status for apparel will end in 60 days if no corrective actions by Rwanda are taken.
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Under the EU's Everything But Arms (EBA) scheme, 47 less developed countries, including Cambodia, enjoy duty free access to the EU for exports of all products except arms.
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Over 500 exhibitors from 36 countries will parade their wares at this year's LIMA, which is held every two years on the northern duty-free island of Langkawi.
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He proposed establishing a thirty-kilometre duty-free zone along the entire northern border, and lowering taxes for companies, both Mexican and American, that set up factories there.
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The Air Transport Association is now calling on airport bars and duty-free shops to voluntarily follow suit so that passengers aren't drunk when they board the plane.
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Under the TPP, about 85 percent of all footwear products coming into the United States will be immediately duty-free under the deal, according to the Commerce Department.
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King Power currently controls more than 90 percent of Thailand's duty-free market, being a sole operator with concessions in all major airports in the country until 2020.
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On Tuesday, while other passengers scooped up duty-free bracelets and watches on St. Thomas, I hogged a cushioned chair intended for couples, with a many-pillowed backrest.
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In May, Trump scrapped India's trade privileges under the Generalized System of Preferences (GSP), under which New Delhi could make duty-free exports worth up to $5.6 billion.
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To those concerned about agricultural trade, Mr. Lighthizer emphasized that the administration's goal is to preserve duty-free access by successfully reworking Nafta and remaining in the pact.
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The preliminary deal would require companies to produce at least 75 percent of automobiles, measured by value, in North America to import cars into the U.S. duty free.
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Colombia's president, Iván Duque, wants to create a port and duty-free zone in Chocó plus roads to coffee-growing areas as part of his national development plan.
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The United States announced late on Friday it was reviewing Turkey's duty-free access to U.S. markets – a move that could affect nearly $1.7 billion of Turkish imports.
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Photograph by Paolo Pellegrin / Magnum for the New Yorker But by the eighties Gucci had gone into decline, having become a predictable standby of the duty-free store.
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For example, the SK Group and the retail conglomerate Lotte had lost valuable licenses to run duty-free shops in 2015 and lobbied to regain them last year.
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The hotly-contested auction had lured international bidders seeking to benefit from Thailand's booming duty-free industry on growing tourist numbers, and powered airport operator AOT's revenue growth.
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The sprawling Lotte Group, which provided the land where the THAAD battery was installed and is a major operator of hotels and duty free stores, has been hardest hit.
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Another option, according to Bruton, could be an arrangement similar to what Canada and the EU have, in which 98 percent of Canadian goods enter the bloc duty-free.
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Hun Sen told his ministers last month to ease pressure on labor leaders, after threats by the European Union to remove the Southeast Asian country's duty-free trading access.
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The White House said it suspended Ukraine's ability to export some products to the U.S. on a duty-free basis in December 2017 over worries regarding intellectual property rights.
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The government has stopped the most blatant forms of cronyism, such as handing out the right to import certain goods duty-free to those with friends in high places.
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The looming row could put at risk duty-free access to the U.S. market for nearly $2 billion worth of South African exports, government officials and trade experts say.
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In March President Donald Trump warned that he would suspend Rwanda's duty-free access to American markets for its apparel after 19903 days if it did not back down.
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Global travel revenue, which includes duty-free sales at airport stores, has tripled over the past 15 years to $69 billion in 2017, according to the Boston Consulting Group.
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The Chinese are by far the biggest spenders in South Korea's tourism industry, propping up the world's biggest duty free market which generates about $8 billion in annual sales.
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The airline will also consider the sale of stakes in its food, engineering and duty free businesses in the future, although no talks on those have begun, Fernandes said.
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PHNOM PENH (Reuters) - Cambodian Prime Minister Hun Sen on Monday threatened to retaliate against the opposition if the European Union withdraws duty-free trading access over human rights concerns.
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Last year the government awarded three Seoul city duty free licences, but the stores have gotten off to a slow start and have struggled to attract anchor luxury brands.
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On a recent trip to Russia, arriving bleary-eyed at the airport before seven in the morning, I found the duty-free shop carrying out a vodka-tasting session.
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SEOUL, March 2 (Reuters) - Cyber attacks from China on Thursday crashed the website of South Korea's Lotte Duty Free, part of Hotel Lotte Co Ltd, a company official said.
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Foreign flight crews face new restrictions on their movement and are now prevented, for example, from leaving the plane to buy items in the duty-free shop, he said.
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He also said that controlling immigration to Britain was a goal, which would almost surely prevent Britain from retaining access to the duty-free single market of the bloc.
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If we're allowed to ship some product to China duty-free, but under so many layers of rules nothing actually can get through, then that's non-free free trade.
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Number of private jet arrivals in 2018: 2,300The group of three British Islands is known for having the best duty-free shopping in the Caribbean, Business Insider previously reported.
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If the new U.S. proposals were to become part of the agreement, they would add tremendous complexity to measuring if a car meets NAFTA standards for duty-free entry.
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Turkey's lira recovered 0.23 percent from Monday's losses of more than 20.2 percent after Washington had moved to end duty-free access to U.S. markets for some Turkish exports.
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Isetan Mitsukoshi said its duty-free sales, widely regarded as proxy for spending by foreign visitors, fell 19 percent to 36.7 billion yen over the nine months through December.
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Managers also suggested in the memo that Olympus could lose its duty-free trading privileges in Shenzhen, a blow that would add costs to the already unprofitable camera business.
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If the United States scraps duty-free access for about 2,000 product lines, it will mostly hurt small and medium businesses in India, such as makers of engineering goods.
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Such a scheme could be modeled on the Africa Growth and Opportunity Act (AGOA), which allows African exports like apparel and textiles duty free access to the U.S. market.
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BANGKOK (Reuters) - Thailand's prime minister said on Friday the auction terms for duty-free concessions and other commercial activities at four airports should be reviewed to address competition concerns.
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But fragrance companies are not alone in focusing on Asia, the world's biggest duty-free market, with more than $25 billion spent there last year, according to Generation Research.
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Videos show the rap stars swinging punches at each other before others join in and a full-blown brawl breaks out in the lounge and a duty-free shop.
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Hong Kong airline Cathay Pacific said it would no longer offer hot towels, pillows, blankets, reading materials, or duty-free sales on its flights to mainland China, CNN reported.
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He'd empty his pockets of shells and rocks and other things found at the edge of the Atlantic—and, later, perfumes from duty free—before disappearing into the darkroom.
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Lotte Duty Free, a division of Hotel Lotte, on Monday said Shin, 73, stepped back from operations in 2012 and was not in a position to influence the business.
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According to the new rules, 75% of car or auto parts need to be made from products that originated in the country partnership to achieve duty-free import status.
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Coupled with that, double-digit growth in revenue in China and at duty-free stores at airports and online, helped total sales rise by 9 percent to $2.89 billion.
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The paper also advocates duty-free and non-discriminatory treatment of digital products, barring forced technology transfer, non-discriminatory cybersecurity requirements, facilitating internet services and allowing competitive telecom markets.
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The new rules also require that a certain percentage of vehicles imported duty-free must be made in a place where employees make an average of $16 per hour.
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While the U.S would likely replace some of its duty-free imports with its own production, it will still need to rely on more expensive imports, the report said.
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His death comes just weeks before Thailand plans to hold an auction for its duty-free and commercial concessions, threatening to end King Power's near monopoly of the sector.
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Unlisted King Power currently controls more than 90 percent of Thailand's duty-free market, being a sole operator with concessions in all major airports in the country until 2020.
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The United States is planning to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
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While the rest of us return home from vacation with photos, sunburns, and maybe some duty-free bounty, he comes back bearing ideas that alter the course of pop culture.
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Moscow supplies Belarus each year with around 2 million tonnes of duty-free oil products but wants to cut that to 100,000-300,000 tonnes, the Russian Finance Ministry has said.
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Under AGOA, enacted in 2000 with the aim of using trade to boost development, qualifying African countries are granted duty-free access to the U.S. market for 2340,224 exported products.
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China also has built many of its own luxury malls and has even set up duty-free paradises in local tourist hot spots to lift consumption and spur domestic tourism.
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Even if you assume they'd have minimum influence as VP, there's a real possibility they'll jump from that hilariously duty-free job to the most important job in the world.
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This ritualistic form of self-medication is way more common among my fellow plane-phobics than you'd think — who else is buying those miniature bottles of spirits at Duty Free?
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Most passengers are poor Brazilians, carrying electronics they were commissioned to buy duty-free over the river in Paraguay's Ciudad del Este, but there is a more dangerous trade too.
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The former British colony, located on China's southwestern border, exports some 5,000 products to the United States duty-free under a U.S. trade programme for developing nations — another big plus.
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The former British colony, located on China's southwestern border, exports some 5,000 products to the United States duty-free under a U.S. trade programme for developing nations - another big plus.
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The former British colony, located on China's southwestern border, exports some 5,000 products to the United States duty-free under a U.S. trade program for developing nations - another big plus.
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On Monday, the U.S. Trade Representative's Office said it intends to end Turkey's preferential trade treatment under a program that allowed some exports to enter the United States duty free.
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Per the paper, stopping on-board sales of duty-free items like "perfumes, chocolates and liquor" also saved 1.4 millions of gallons of fuel annually, saving United Airlines $2.3 million.
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The empty terminal, spanning 215.8,21 square metres with 265.8625 registration desks, two cafes and a medium-sized duty free shop, has an operating capacity of 2 million passengers a year.
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"From duty-free and restaurants to ambiance, cleanliness, courtesy of staff, amenities, efficiency and more, air travelers are expecting big things from the airports through which they travel," she added.
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Lesotho's underperformance on governance benchmarks has threatened its eligibility for the United States' African Growth and Opportunity Act (AGOA), which permits duty-free exports to the US for Lesotho's textiles.
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Although solar panels, lamps, inverters and lanterns have been duty free, the government had required 15 percent value-added tax plus customs duty on batteries and other solar system components.
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Nitinai said the system was not monopolistic, and that AOT bundled four airports under the duty-free retail concession to better attract bidders to smaller airports with lower sales volumes.
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BANGKOK (Reuters) - Thailand will pursue negotiations with the United States over its suspension of duty-free preferences on imports of Thai goods, a senior Commerce Ministry official said on Monday.
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Last month, the government allowed imports of half a million tons of duty-free raw sugar, as a drought cut output below consumption for the first time in seven years.
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The United States has stopped funding for the election and the European Union has raised a potential threat to Cambodia's duty free access if it does not respect human rights.
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The 34-year-old is now the CEO and Chairman of duty free giant King Power, as well as the Chairman of both Leicester City and Belgian club OH Leuven.
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The main duty-free mall, converted from an old nightclub, is bereft of customers, its shelves of cigarettes and single-malt whiskey standing as still and pristine as museum exhibits.
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If Canada ratifies CPTPP, the duty-free access offered to Japanese auto parts companies could provoke politically a U.S. administration already preoccupied with rules of origin and concerns with Asia.
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Prosecutors accused Shin of paying bribes totaling 7 billion won to an organization linked to Choi in return for government favors in offering a duty free license, the spokesman said.
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Foreign companies in the city's special manufacturing zone are allowed to import duty-free raw materials on the condition that the products they assemble there are exported to other countries.
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Among other steps, Ross will seek to tighten rules on what products can cross borders duty-free based on how much content produced outside the trade zone those products contain.
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AGOA provides duty-free market access to the U.S. for qualifying SSA countries by extending preferences a wide range of products, while promoting greater diversity of exports from such countries.
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In July, Net-a-Porter began carrying a concise selection of Jo Loves items; last month, the airline Emirates added the Pomelo scent to its in-flight duty-free selection.
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There are discount groceries, dollar stores, auto shops, duty-free stores, and wholesalers with names like "Factory 2 U." Even the street name — Border Village Road — hints at its purpose.
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It's exploring moving the manufacturing of can tops and bottoms to South America to tap into cheaper foreign steel supplies and import the components to the United States duty-free.
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"Duty free fabric from China is coming to Bangladesh, getting converted and landing into India at zero duty," Sanjay Jain, president of Confederation of Indian Textile Industry (CITI) told Reuters.
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Lidor and I go to the mall together, not for a present; the last time I was in a duty-free shop, I bought him a remote-control multicopter drone.
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In February the European Union began an 18-month process that could lead to the suspension of Cambodia's duty-free trade access over its record on human rights and democracy.
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Challenges ahead Moise, 19713, is the country's 21971th president and has pledged to create thousands of jobs by stimulating the textile industry and providing duty-free preferences for certain manufactured goods.
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Eligibility for funding under the U.S. African Growth and Opportunity Act (AGOA), which provides duty-free treatment for certain goods, is reviewed every year and can be restored at any time.
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Elsewhere, the Turkish lira slipped 0.37% to 6.0700 per dollar after the United States on Thursday terminated Turkey's preferential trade treatment that allowed some exports to enter the country duty free.
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Turkey's lira recovered as much as 2 percent from Monday's losses of more than 5 percent after Washington moved to end duty-free access to U.S. markets for some Turkish exports.
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The big picture: Globally, sales from duty-free shops and other travel-retail channels rose almost 10% to a record $76 billion in 2018, according to research firm the Data Circle.
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It had plunged about 5.5 percent to a record low of 5.4250 overnight after the Trump administration announced on Friday that it was reviewing Turkey's duty-free access to U.S. markets.
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Trump scrapped trade privileges for India under the Generalized System of Preferences (GSP), under which New Delhi was the biggest beneficiary that allowed duty-free exports of up to $5.6 billion.
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Steven Hydes was just over a week old in April 1986 when he was found wearing two onesies in the women's restroom at Gatwick Airport by a duty-free sales assistant.
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The United States and Guatemala also will establish a tariff rate quota allowing imports of 1,000 metric tons of processed chicken leg quarters to enter duty-free each year through Dec.
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Canada and Mexico each won duty-free access to 2.6 million vehicles as part of a new North American free trade deal even if the administration moves ahead with the tariffs.
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The group also plans to export "IDP Goods" products to the United States, under the African Growth and Opportunity Act, which enables African goods to enter the U.S. market duty-free.
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Eurotunnel boss Jacques Gounon said earlier this year the company could actually benefit from a British exit from the EU given the possibility of a return of duty-free shopping traffic.
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The EU warned that it had launched a six-month review of Cambodia's duty-free access to the EU, meaning garments, sugar and other exports could face tariffs within 12 months.
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Data from the U.S. International Trade Commission showed that the biggest beneficiary of the duty-free program were auto and auto parts makers, with exports of nearly $250 million last year.
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A SAS spokeswoman said inflight duty-free sales had been falling and SAS was looking into alternative ways for passengers to buy goods that would have been bought during a flight.
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Airlines are expected to deny boarding to drunk passengers, for example, and duty-free shops are supposed to explain that the alcohol they sell must not be consumed on the plane.
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They should also challenge the fact that settlement products enjoy the same duty free status as products made in Israel, although they are in direct contravention of the stated U.S. position.
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Each new trade agreement provides significant market access opportunities for the foods we make, including immediate duty-free access for many frozen foods and greatly improved tariff treatment for other foods.
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For the holiday season, a special eau de toilette edition, infused with specks of mother of pearl, is being distributed to duty-free destinations, especially those most popular with Chinese travelers.
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Sales in Europe, the Middle East and Africa (EMEA) - Estee Lauder's biggest revenue generator - also rose 15 percent to $1.63 billion on higher demand for luxury brands at duty free stores.
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When I get to the airport, I go to the duty-free shops or beauty stores, and I go down the line and put on moisturizer, serum and maybe even cologne.
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Everything was created for the Fifth Avenue store, although each holiday's themes are integrated into displays at the more than 300 Tiffany boutiques worldwide (there are also 100 duty-free locations).
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It is also disturbing that Israeli settlement goods can still benefit from duty-free entry to the United States as long they are properly labeled as originating from the West Bank.
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On Tuesday, he was to fly to Dubai to prepare for his return to tour competition at next week's Dubai Duty Free Tennis Championship, a tournament he has won seven times.
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Song Yang, who works in a duty-free store in Seoul, hauls two suitcases filled with about $6,000 worth of skin care products and cosmetics back to China every two months.
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World number one Novak Djokovic heard about Sharapova's retirement after he reached the Dubai Duty Free Tennis Championships quarter-finals and asked the crowd to applaud her for everything she accomplished.
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However, my more aviation-obsessed friends promised that the A380 was actually a treat, with two levels of seating, an onboard duty-free store, and a bar for prestige-class flyers.
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The name is on hotels, department stores and apartment buildings, as well as nationwide chains of shopping malls, theme parks, movie theaters, duty-free stores, coffee shops and fast-food restaurants.
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The name is on hotels, department stores and apartment buildings, as well as nationwide chains of shopping malls, theme parks, movie theaters, duty-free stores, coffee shops and fast-food restaurants.
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U.S. political leaders from both parties have consistently supported the U.S. Generalized System of Preferences (GSP), a preferential program that gives duty-free treatment to certain goods entering the United States.
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When the USMCA's new rules are fully phased in, as soon as 2023, cars will have to have 75% of their value created within North America to cross its borders duty-free.
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Hwang Kag-gyu, head of Lotte Corporate Innovation Office, also told reporters that the initial public offering of Hotel Lotte will depend on its key duty-free business recovering from "THAAD effect".
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Turkey's lira recovered as much as two percent from Monday's losses of more than five percent after Washington had moved to end duty-free access to U.S. markets for some Turkish exports.
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Many English clubs are now owned by foreigners; Mr Vichai, who made his money via a monopoly on Thailand's duty-free concessions, was not even the only Thai to hold a team.
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Elsewhere, the Turkish lira edged down 0.3% to 6.0670 per dollar after the United States on Thursday terminated Turkey's preferential trade treatment that allowed some exports to enter the country duty free.
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"If you apply to import a certain tonnage of Russian corn and wheat with an import license, only 20 percent of your approved quantity is allowed for import duty free," he said.
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Among the ways the airline has been doing so is by cutting the sale of duty-free items onboard its aircraft to lower their weight and by purchasing new fuel-efficient aircraft.
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It's a glaring security flaw that not only grants access to these restricted lounges but also allows someone to make duty-free purchases without the added cost of an actual plane ticket.
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At first there were benign competitions to build the finest temple; but in the Hellenistic and Roman eras Delos became an earthy duty-free market where slaves were the most visible commodity.
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"Lotte Duty Free will cooperate fully so that all related doubts can be cleared up through prosecutors' current investigation," it said in a statement sent by text message to Reuters on Monday.
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Back in 2013, I'd traveled to Syria and found a couple packs of Marlboro Reds earned me a handy bit of goodwill, so this time I grabbed a carton at duty free.
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The eventual deal allowed Canada to raise its exports to the EU in stages to 20153,000 tonnes of duty-free beef, as well as 80,000 tonnes of pork and 100,000 of wheat.
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Many airports, like Houston's, have big, expensive, and not especially memorable or noteworthy art collections that blend into the background of departure time monitors, advertisements, duty free stores, and fast food chains.
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"Unfortunately both Maria Sharapova and Madison Keys have regretfully had to withdraw from the Dubai Duty Free Tennis Championships due to injury and illness," tournament director Salah Tahlak said in a statement.
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"We tried to diversify our customers to Southeast Asia and other places since the THAAD crisis, but their buying power falls far short of the Chinese," said a Lotte Duty Free official.
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Muguruza got off to a bad start in surrendering the first set against Kasatkina, who she had lost to in the semi-finals of the Dubai Duty Free Tennis Championships in February.
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BANGKOK (Reuters) - Thailand's King Power Group, the nation's largest duty free retailer, said it plans to spend 12 billion baht ($28.53 million) on buying the remaining 60 percent of Asia Aviation Pcl.
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Britain's exit from the European Union is likely to mean an end to duty-free participation in the European single market, potentially making it uncompetitive for Nissan to continue to invest here.
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Duty-free access must remain intact — with duties and quantitative restrictions having been eliminated in 2008, U.S. business must continue to have access to the Canadian and Mexican markets on that basis.
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As a point of comparison, Goliath vineyards like Antinori, Frescobaldi and the other wines of the duty-free world produce millions of bottles a year and export them all over the world.
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Investigators are looking into payments he made to a former mistress, and their ties to a company that operated a chain of duty-free shops and arranged to employ her outside Brazil.
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Lotte's businesses in South Korea, including its major duty-free operations, that had counted on big-spending Chinese tourists, remain under pressure amid curbs on Chinese tour groups travelling to the country.
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The world's largest trading bloc has launched a six-month review of Cambodia's duty-free access, meaning its garments, sugar and other exports could face tariffs within 12 months, under EU rules.
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A TPP deal is widely expected to address those issues in addition to providing duty-free access for nearly all goods, opening up services and investment and ensuring cross-border data flows.
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The repurposing of government departments under Johnson-Cummings for pro-Brexit propaganda messaging also looks decidedly whiffy… Duty-free shopping with the EU is coming back, if we leave without a deal.
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However, the top ranking and the attention that goes with it proved a heavy burden, she admitted, after a tearful first round exit from the Dubai Duty Free Tennis Championships in February.
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Visitors could shop in an airport's duty-free store, go to the IMAX theater or nine-hole golf course at the Hong Kong airport or the Butterfly Garden at Singapore Changi Airport.
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The proposal, which is backed by U.S. trade representatives, would push the duty-free limit on imports to about $800 from thresholds of $50 in Mexico and C$20 ($16.5) in Canada.
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BRUSSELS (Reuters) - The European Union started an 18-month process on Monday that could lead to the suspension of Cambodia's duty-free trade access over its record on human rights and democracy.
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"The seat back pocket will only contain the aircraft safety card and sick bag," said Tigerair Taiwan, also a member of China Airline group, adding duty-free sales are also not available.
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From the Duty-Free store I use my credit card to purchase a box of rainbow box of Pocky ($210), plum wine ($20.30) and a peach liquor ($15.69) $47.07 9:40 a.m.
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Gap would be able to import vests, sweaters and 14 other types of clothing duty-free, while PetSmart would no longer have to pay tariffs on certain pet crates and chew toys.
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Context: The U.S. cancelled duty-free access under GSP for $5.7 billion worth of Indian exports this June, which prompted India to respond with tariffs against 28 U.S. products, according to Reuters.
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"This goes to the point of the US as the big loser because Canada and Mexico would have duty-free access to the EU and Japan but the US wouldn't," explained Bhala.
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Under a trade agreement that was expanded in 2016, the Generalized System of Preferences (GSP) allows Cambodia to export travel goods such as bags, luggage and accessories, to the United States duty free.
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A duty-free shop at the Haikou Meilan airport on China's Hainan island posted a photo of empty shelves on its social media account, saying that it had pulled all Dolce&Gabbana products.
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The EU and Morocco have struck agreements allowing duty-free quotas for agricultural products such as tomatoes and granting access for European vessels to fish in Moroccan waters in return for financial assistance.
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Prime Minister Theresa May's position is that Britain will leave the customs union which groups EU members in a duty-free area where there is a common import tariff for non-EU goods.
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A public advertising campaign offers consolation: "Beer, wine, spirits, and cigarettes will all be duty free for people traveling to the EU if we leave without a deal," one official promotional video pronounces.
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It's a strategy that has flourished elsewhere in Africa under AGOA, with duty-free exports from the continent to the U.S. market almost quadrupling to over $1 billion since the law was enacted.
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In March, U.S. President Donald Trump announced plans to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
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Duty-free and other airport spending binges, especially by Chinese and other travelers from emerging markets like Russia, India and Brazil, have helped jolt the stock up more than 35% year-to-date.
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The privileges come under the Generalized System of Preferences (GSP), which had been allowing preferential duty-free imports of up to $5.6 billion a year into the U.S. from the South Asian nation.
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Analysts think its airline operations are loss-making, and that they are cross-subsidised by other parts of the group, including Doha's airport, hotels and a monopoly on alcohol and duty-free shopping.
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South Korean prosecutors raided the home of Shin Young-ja, daughter of the Lotte Group's founder and head of the Lotte Foundation, as well as offices of Lotte's duty free operation on Thursday.
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Cainiao, the logistics network in which Alibaba now owns a majority stake, has built bonded warehouses where foreign manufacturers can store goods, duty-free, within China's borders, ready to be shipped to consumers.
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From June 5, President Trump scrapped trade privileges under the Generalized System of Preferences (GSP) for India, the biggest beneficiary of a scheme that allowed duty-free exports of up to $5.6 billion.
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BANGKOK (Reuters) - Beer, pies and Buddhist prayers helped endear Vichai Srivaddhanaprabha to Leicester City fans even before the team owned by the Thai duty free billionaire became the Premier League's most unlikely champions.
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Alipay already has 4 million U.S. users and works with luxury brands like Lacoste and Rebecca Minkoff, and can be used at duty-free shops and Vegas hotels — places frequented by Chinese tourists.
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Described as a "beautiful gin infusion with citrus, sultanas and Easter spices" — it's certainly an improvement to the duty-free Midori in the kitchen that's too embarrassing to take to a dinner party.
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The brawl erupted between rap stars Booba and Kaaris, with both men kicking, punching and yelling at one another in the air hub's duty free cosmetics shop and waiting lounge, The Independent reports.
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Trump in May scrapped trade privileges for India under the Generalized System of Preferences (GSP), under which New Delhi was the biggest beneficiary that allowed duty-free exports of up to $5.6 billion.
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Shin allegedly received bribes of about 3 billion won ($2.6 million) as requests for preferential treatment for brands in Lotte Duty Free stores, one of the prosecution sources told Reuters earlier this week.
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Other major foreign-led acquisitions included Swiss travel retailer Dufry's takeover of Italian peer World Duty Free and a bid by Japan's Hitachi for the rail assets of defence and aerospace group Finmeccanica.
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Charnchai Issarasenanark, at the time an anti-graft official, filed the suit in a private capacity in July against the duty-free retailer, which is owned by billionaire Vichai Srivaddhanaprabha and his family.
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U.S. President Donald Trump said on Monday he intended to end Indias preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty free.
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The move by SAS, whose rivals includes Norwegian Air and Ryanair, follows a similar decision by Dutch airline KLM, which had cited a change in consumer demand patterns for ending duty-free sales.
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The recall spans so many countries because the factory in question shipped some of the product to duty-free stores in airports, making it difficult to track the final destination of said treats.
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Obama also said he would reinstate the nation formerly known as Burma to the Generalized System of Preferences (GSP), a tariff program that would provide Americans with duty-free access to Myanmar exports.
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Programs like the Generalized System of Preferences (GSP) and the African Growth and Opportunity Act (AGOA) give companies throughout the developing world the ability to export products to the United States duty-free.
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But after the deal, the Comprehensive Economic and Trade Agreement, which was signed on Sunday, comes into effect, much more imported cheese will be allowed to enter Canada duty-free from the Continent.
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U.S. President Donald Trump on Monday said he intended to end India's preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty free.
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Robert Miller made his fortune through cofounding the Hong Kong-based Duty Free Shoppers chain in 1960 and he retains a 38.75% stake in the group despite selling it to LVMH in 1998.
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The preliminary agreement unveiled in August required that at least 75 percent of a car's value be produced in North America for a company to import it into the United States duty free.
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Those tariffs are set to begin taking effect September 1, though most goods will be duty-free until December 15 -- a move Trump made to avoid putting a damper on holiday retail sales.
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PHNOM PENH (Thomson Reuters Foundation) - The European Union's move to revoke Cambodia's duty-free access could force major clothing brands out of the manufacturing hub and worsen conditions for workers, industry experts said.
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The government's quota for an initial 100,000 tonnes of duty-free corn per company on purchases outside of Mercosur, announced on Tuesday, is expected to favor imports of corn from the United States.
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Chuck Feeney, who built an empire of duty-free shops and a multibillion-dollar fortune along the way, has worked since the 1980s to give all that money away, as quietly as possible.
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The African Growth and Opportunity Act, which allows those countries to send goods to the United States duty free, is scheduled to expire in 2025, and it's unclear whether Congress will renew it.
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LONDON (Reuters) - Britain said it will maintain duty-free access to its markets once it has left the European Union for goods from nearly 50 developing countries including Bangladesh, Sierra Leone and Haiti.
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"We don't think the THAAD issue will be resolved anytime soon, and there is nothing we can do to help," an official at the Lotte Duty Free said, asking not to be named.
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Legislation introduced this year in Congress would give duty-free treatment to Mongolian cashmere and other products in an effort to increase trade between the two countries — and lessen its reliance on China.
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As he disembarked to stroll a few laps around the airport terminal like a Midwestern mall walker, his wife, Karen, made a beeline to an assortment of souvenirs in the duty-free shop.
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U.S. President Donald Trump said on Monday he intended to end India's preferential trade treatment under a program that allows $5.6 billion worth of Indian exports to enter the United States duty free.
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The Russian-led Eurasian Economic Union (EEU) - of which Kazakhstan is a member - limits traders from the Kazakh side to importing up to 50 kg (110 lbs) of any goods per month duty-free.
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WASHINGTON (Reuters) - President Barack Obama on Wednesday said in a statement he would reinstate Myanmar to the Generalized System of Preferences (GSP), which provides duty-free treatment for goods from poor and developing countries.
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Garments are the main foreign-exchange earner for the South Asian country, where low wages and duty-free access to Western markets have helped make it the world's second-largest apparel exporter after China.
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At sea they could bypass the country's strict gambling laws (just as the original American "booze cruises" in the 20173s were a way of getting around Prohibition) and snap up duty-free Western brands.
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Gap Inc would be able to import vests, sweaters and 14 other types of clothing duty-free, while PetSmart Inc would no longer have to pay tariffs on certain pet crates and chew toys.
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"The captain introduced himself and gave a really stern warning and reiterated that only alcohol bought on board could be consumed on flight and duty free can&apost be consumed," a passenger told BBC.
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In 2018, Pace sold here the Bangkok's tallest building, now named King Power MahaNakhon, for 14 billion baht to duty-free retailer and owner of the Premier League football club Leicester City, King Power .
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That comes after the government in April allowed the duty-free import of 500,000 tonnes of sugar to keep a lid on prices after local production fell by a fifth from a year ago.
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South Korea's duty free industry, the world's largest with 12.3 trillion won in sales last year, was hardest hit as Chinese group tourists had contributed around 50-60 percent of their revenue before March.
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DUBAI (Reuters) - Stan Wawrinka edged out Cypriot Marcos Baghdatis in a nerve-jangling, near-30 minute tiebreak to secure the Dubai Duty Free Championship with a 63-4 7-6(13) triumph on Saturday.
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BANGKOK, June 14 (Reuters) - Thailand's King Power Group, the nation's largest duty free retailer, said it plans to spend 12 billion baht ($340 million) on buying the remaining 60 percent of Asia Aviation Pcl.
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Banco Santander, Autogrill Espana, which is now known as World Duty Free Group, and Santusa Holding challenged the decisions at the Luxembourg-based General Court, Europe's second-highest, which ruled in the companies' favour.
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Garments are a key foreign-exchange earner for the South Asian nation, whose low wages and duty-free access to Western markets have helped make it the world's second-largest apparel exporter after China.
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The AGOA trade program provides eligible sub-Saharan countries duty-free access to the United States on condition they meet certain statutory eligibility requirements, including eliminating barriers to U.S. trade and investment, among others.
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Accompanied by her daughter, Princess Anne, and her racing adviser, John Warren, the Queen attended the Dubai duty-free spring trials meeting at Newbury Racecourse in Newbury, England, about 60 miles outside of London.
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The United States is set to request new North American Free Trade Agreement rules which would lay out stricter standards in order for manufactured goods to be treated as duty free, sources told CNBC.
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Facing a bloated domestic surplus, India scrapped a 20 percent sugar export tax and allowed millers exporting sugar this season to import raw sugar duty-free for the following two seasons through September 2021.
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The North American Free Trade Agreement, for example, grew to 1,700 pages, yet still allowed Mexico to enforce its value-added tax on American products while exporting goods to the United States duty-free.
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Not only has the city been a big recipient of European money, it is also the home of a Nissan car factory, Britain's largest, and automobiles produced there are exported, duty free, to Europe.
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In July, Shin Young-ja, a 73-year-old sister of the Lotte chairman, was arrested on charges of accepting bribes from a local cosmetics company that sought access to Lotte's duty-free outlets.
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Food is often wildly overpriced, duty-free shopping with luggage in tow is a burdensome pastime, and besides, who wants to spend tons of money at the airport and not, you know, the destination?
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Indian government officials say they fear Trump's administration will soon end preferential trade treatment for India, which allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
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Retailers have been working to regularly disinfect stores, and chains including Shinsegae and Shilla Duty Free have closed locations in Seoul and on the island of Jeju after coronavirus-infected people visited the stores.
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DUBAI (Reuters) - Kazakhstan's Elena Rybakina produced another upset by beating second seed Karolina Pliskova 7-6(23) 25-23 at the Dubai Duty Free Tennis Championships on Thursday to move into the semi-finals.
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The renegotiated North American Free Trade Agreement, which is awaiting ratification by Congress, would also bring big changes to the auto industry by creating stricter rules of origin in order to remain duty free.
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The Points Guy found that overall, the cheapest international airports for duty-free shopping are the Kuala Lumpur International Airport, the Singapore Changi Airport and the Owen Roberts International Airport in the Cayman Islands.
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Tensions between the United States and India rose after the U.S. administration stripped India of its special trade status last May which gave the allied country access to $5.6 billion of exports, duty free.
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BANGKOK (Reuters) - The death of Leicester City soccer club owner Vichai Srivaddhanaprabha adds to challenges his King Power International empire faces as its dominance of the lucrative Thai duty-free industry comes under scrutiny.
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The Trump administration favors stricter rules on how much NAFTA content auto parts need to have to qualify for duty-free treatment — a desire the auto workers' union embraces and the car industry dislikes.
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The massive amounts of art piling up in duty-free warehouses in Singapore, Hong Kong and Switzerland are a sign that the rich are using art as a way to offshore their wealth, he said.
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Prosecutors had sought a four-year jail term for Shin, accusing Lotte of giving a foundation backed by Park and Choi 7 billion won ($6.46 million) for favours such as a duty free store license.
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The United States was also opening reviews of its duty-free treatment for certain products from South Africa over intellectual property issues and Azerbaijan over workers' rights concerns, the USTR's office said in a statement.
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Insiders say the Canadian and Mexican governments are prepared to be flexible on a U.S. demand that the amount of North American content in autos be boosted to qualify for duty-free status in NAFTA.
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Failure would not only keep the store shuttered, it would curb enthusiasm for the planned $4.5 billion initial public offering of Lotte Group's hotel business, designed in part to help fund expansion in duty free.
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He called for a reduction in the American trade deficit with its partners, stronger rules of origin for goods that can be traded duty-free within North America and changes to NAFTA's dispute-resolution process.
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Some 90 percent of Australian goods exported to Indonesia, by value, would enter duty free or "under significantly improved arrangements" under the deal, Birmingham said, adding that was up from 85 percent under previous deals.
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The big picture: India was until the U.S. cut privileges on June 5 the biggest beneficiary of the Generalized System of Preferences scheme, which allowed duty-free exports of up to $5.6 billion, per Reuters.
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"Our lovely town has become chaos," said Ryan Lai, 50, a resident of Sheung Shui, where so-called "parallel traders" buy bulk quantities of duty-free goods to be carried into mainland China and sold.
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Although the end of duty-free shopping within the EU in 1999 cut profits from onboard shops, new revenue streams, including posher restaurants, Wi-Fi and business-lounge entry, have helped make up the difference.
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The rising flow of duty-free edible oils is disrupting trade in India, the world's biggest importer of the oils, and is undermining efforts to raise local oilseed prices, the reason for imposing the taxes.
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"I have determined that South Africa is not meeting the requirements … and that suspending the application of duty-free treatment to certain goods would be more effective in promoting compliance," Obama said in a proclamation.
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"The operational conditions for duty free stores are daily becoming more difficult, as additional stores compete to secure brands and visitors," Hanwha Galleria Timeworld Co Ltd , one of the new operators, said in a statement.
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The American Automotive Policy Council, which represents U.S. automakers in Washington D.C., said new tariffs would ruin the benefits of Trump's proposed new trade agreement with Mexico and Canada, which relies on duty-free access.
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Hotel Lotte Co Ltd has the world's third-largest duty free business in terms of sales, and operated 10 five-star hotels and 7 business hotels in South Korea and abroad as of September 2015.
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In response to the crackdown, the United States has stopped funding for the election and the European Union has raised a potential threat to Cambodia's duty free access if it does not respect human rights.
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Though the TPP faces opposition in the U.S. Congress, China could lose some ground to manufacturing competitors such as Vietnam if the deal goes into force, as it would expand duty-free access among members.
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Vietnam has finalized 16 free trade agreements including with the European Union and is a member of the Trans-Pacific Partnership, offering companies almost duty-free access to big bike markets from Germany to Australia.
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India's government has not decided on petitions received from importers to allow duty-free imports, said a federal government official, who asked to remain unidentified since he was not authorized to speak to the media.
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Hotel Lotte, whose mainstay duty free business suffered from a plunge in the number of Chinese travelers, posted its first operating loss in the first half since earnings data was first publicly available in 2008.
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Belinda Bencic secured a spot in the final by stunning two-time champion Elina Svitolina 6-2, 3-6, 7-6 (3) on Friday at the Dubai Duty Free Championships in the United Arab Emirates.
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The question of how much content in a vehicle should be sourced from within the NAFTA region to qualify it for duty-free status is proving to be one of the hardest issues to resolve.
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Even if it refuses to budge on immigration, Britain might still be able to negotiate a trade agreement with the union that gives it some modest economic benefits, like duty-free access for certain products.
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BANGKOK (Reuters) - A Thai court on Tuesday dismissed a 14 billion baht ($430 million) graft case against Airports of Thailand and duty-free retailer King Power, owner of the English Premier League club Leicester City.
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Another former president, Fernando Henrique Cardoso, is facing an investigation into payments made to his former mistress, Mirian Dutra, and into their ties to a company that operated a chain of airport duty-free shops.
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The Turkish lira has continued its six-day free fall, hitting a record low against the dollar following news that the U.S. will review the country's duty-free access to the American market, reports Reuters.
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The prosecution said Mutee invested in multi million dollar factories inside the country's duty free zone and bribed officials to smuggle in and flood the local market with cheaper counterfeit cigarettes under top international brands.
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It could still be several years before warning labels appear on alcoholic beverages in Ireland, and even then there will be an exemption for alcohol bottled for export or for sale in duty-free shops.
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For the first time in a trade deal, a certain percentage of auto production will be required to be made by workers paid $16 an hour in order to take advantage of duty-free benefits.
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The rules for automobiles, for example, require 62.5 percent of the value of a car must be manufactured in Canada, Mexico or the United States for the automobile to move between the countries, duty-free.
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But others, like Ms. Olney, want to maintain duty-free access to the bloc, even if that means continuing to pay into the alliance's budget or to continue to accept the free movement of labor.
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The prosecutors' investigation revolves around allegations that director Shin Young-ja conspired with others to receive bribes from cosmetics maker Nature Republic in exchange for duty free store space, Hotel Lotte said in the prospectus.
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WASHINGTON (Reuters) - The United States on Thursday terminated Turkey's preferential trade treatment that allowed some exports to enter the country duty free, but it has halved its tariffs on imports of Turkish steel to 25%.
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DFS, the duty-free department store that was its sole outlet in Singapore, stopped carrying the brand in September, a sales associate saying there were insufficient sales to its primary shoppers, tourists from mainland China.
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For the group, which has been expanding into sports, winning the upcoming duty-free license auction has become more crucial to get steady cash flow and fund heavy investments to acquire athletes and managing staff.
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She makes regular trips to the duty free zones in Panama and the Dominican Republic, where she buys clothing in bulk and smuggles them back home with a friend who works in the shipping industry.
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The EU announced that Cambodia would lose its special access to European markets under the so-called Everything But Arms (EBA) preferential trade scheme after it conducts a six-month review of Cambodia's duty-free status.
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Last month Japan published a list of requests to Britain and the EU over Brexit, including maintaining the current duty-free trade between Britain and the EU and preventing any additional customs clearance burden on trade.
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The closed store generated 611 billion won in revenue last year, about half the revenue raised by the vast mall surrounding the group's new Lotte World Tower skyscraper in Jamsil, southeastern Seoul, Lotte Duty Free says.
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Just before his arrival, New Delhi imposed tariffs on some U.S. goods after the U.S. administration expelled India from a group of countries that were allowed duty-free access for some products to the U.S. market.
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These included an income tax holiday for the first seven-years of commercial operations, low corporate tax of 10 percent for the subsequent 25 years, duty-free import of machinery and zero value added tax (VAT).
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The existing duty-free license is set to expire in 2020, and AOT postponed the auction process earlier this month due to public concern over the perceived monopolistic structure of the bidding process and the concession.
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The popularity of South Korean products such as cosmetics among Chinese travellers has helped the country's duty free market regain momentum following a dip last year after a deadly outbreak of Middle East Respiratory Syndrome (MERS).
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Key issues facing negotiators include: NAFTA says in order for a good to be traded duty-free within the three countries, it must contain a certain percentage of North American content, which differs for various products.
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The European Union in October warned Cambodia it could face EU action over duty-free access it enjoys under a deal for some of the world's poorest countries if the nation's human rights situation deteriorates further.
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India's move to seek extended sanctions exemptions comes as Washington plans to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
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The new trilateral deal, called the United States-Mexico-Canada Agreement (USMCA), will raise the minimum North American content threshold for cars needed to qualify for duty-free market access to 75 percent from 62.5 percent.
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Bipartisan legislation is currently pending in Congress that would add a number of footwear styles to the Generalized System of Preferences (GSP) program to enable conditional duty-free importation from countries like Brazil, Cambodia or Indonesia.
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PHNOM PENH (Reuters) - Cambodian Prime Minister Hun Sen told his ministers to ease pressure on labor union leaders on Wednesday, after threats by the European Union to remove the Southeast Asian country's duty-free trading access.
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Kenyan President Uhuru Kenyatta, speaking alongside May at a news conference, said he welcomed her assurance that Kenyan duty free exports would continue after Brexit and said Kenya will be pressing for an increase in exports.
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"The pre-set flow of reporting up and decision-making will not change easily," the person added, noting Lee Boo-jin's focus on hotel and duty-free operations and Jay Y. Lee's control of technology units.
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If Trump proceeds with the tariffs now under consideration based on national security concerns, Mexican duty-free exports of cars and sport-utility vehicles to the United States would be capped at 2.4 million vehicles annually.
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The Kazakh side, in contrast, had to be built from scratch, and it shows: The place is a barren, snow-covered wasteland with only a single duty-free shop and a few barely started building sites.
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He had vowed to provide the funds — drawn from his personal fortune, estimated at around $5 billion, earned through his King Power International chain of duty free stores in Thailand, to make that ambition a reality.
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Bob let us know where he was going when he used his credit card for duty free on the flight from UAE to Kish Island, establishing a proof of life that he was on that flight.
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Serbia's Novak Djokovic, back in action for the first time in three weeks, didn't get much of a test Monday in the first round of the Dubai Duty Free Tennis Championships in the United Arab Emirates.
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"After the applause died down at the Dubai Duty Free Tennis Stadium in Garhoud, Djokovic went on to commend Sharapova for being a "great fighter" and "as dedicated as someone can really be in our sport.
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I do like that when I'm racing for a flight, I can sprint past, say, one of those Martin Scorsese Dolce & Gabbana ads with Matthew McConaughey and Scarlett Johansson and think about buying duty-free cologne.
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Over the summer, U.S.-India trade tensions spiked as the Trump administration ended preferential trade treatment for India that had allowed for up to $5.6 billion worth of Indian goods to enter the country duty free.
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TARIFFS The United States in June ended duty-free access for about $5.7 billion worth of Indian exports under its Generalized System of Preferences (GSP) program, including chemicals, plastics, leather and rubber goods, and auto parts.
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The holiday break - one of the world's biggest mass movements of people - gives a snapshot of China's big-spending tourists, who can make, or break, the fortunes of hotel chains, duty-free stores, cruise firms and brands.
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The world's No.3 duty-free retailer's ambitions to one day become the world's biggest operator were thwarted this year by a criminal investigation that forced its parent Lotte Group to scrap a multi-billion-dollar IPO.
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The European Union and Morocco have concluded farming and fisheries agreements, allowing duty-free quotas for agricultural products, such as tomatoes, and granting access for European vessels to fish in Moroccan waters in return for financial assistance.
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BANGKOK, Sept 18 (Reuters) - A Thai court on Tuesday dismissed a 14 billion baht ($430 million) graft case against Airports of Thailand and duty-free retailer King Power, owner of the English Premier League club Leicester City.
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Over the weekend, the U.S. Trade Representative (USTR) said it was reviewing Turkey's duty-free access to the U.S. market, after Ankara imposed retaliatory tariffs on U.S. goods in response to American tariffs on steel and aluminum.
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Along the way, we discovered something interesting: it was named after none other than present-day U.S. Presidential hopeful Donald Trump—and the platinum credit card he used to purchase duty-free luxury items on a plane.
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One company considering such a move is Le Belle Cosmetics, whose sales are "grinding to a halt" at a duty free shop in central Seoul as Chinese tourist numbers fall, said the firm's chief executive, Cathy Lim.
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Earlier this year Bahrain pulled a transaction following a downgrade of the sovereign, while Panama's Tocumen Airport took the same action in the wake of money-laundering allegations against the owners of its largest duty-free shops.
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The United States last month suspended duty-free treatment for $1.3 billion worth of Thai imports, including seafood products, under its Generalized System of Preferences (GSP) programme, saying Thailand did not afford workers "internationally recognised worker rights".
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Lee Boo-jin, CEO, Hotel Shilla Co Ltd The elder of Jay Y. Lee's two younger sisters, 46-year-old Lee Boo-jin heads Samsung's Hotel Shilla arm, which is among the world's largest duty-free retailers.
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The AGOA trade program provides sub-Saharan countries duty-free access to the United States on condition they meet certain statutory eligibility requirements, including eliminating barriers to U.S. trade and investment and making progress toward political pluralism.
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"They've pretty carefully targeted Lotte in terms of what the government has orchestrated, as well as tourism, flights and duty free," said Andrew Gilholm, director of analysis for China and North Asia at risk consultancy Control Risks.
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At the weekend, the U.S. Trade Representative said the United States was reviewing Turkey's duty-free access to its markets, after Ankara imposed retaliatory tariffs on U.S. goods in response to American tariffs on steel and aluminum.
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Even so, duty-free access to such a huge market is a boon, and it was a large part of why many big non-European companies like Nissan and J. P. Morgan chose to locate in Britain.
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KIGALI (Reuters) - President Donald Trump has suspended Rwanda's right to export clothing duty-free to the United States over Kigali's decision to increase tariffs on imports of used clothing and footwear, the U.S. Trade Representative's office said.
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Some 80 percent of the goods from our 11 TPP partners were coming into the U.S. duty-free already, while our goods and services were still being hit with 18,000 tariffs in their countries — which TPP eliminated.
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Mr. Shin has not been jailed but faces charges of giving bribes worth $6.2 million to Ms. Park and Ms. Choi in return for help in regaining a lucrative government license to run a duty-free shop.
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Those products have now become part of more than 3,500 others that get duty-free treatment under the Generalized System of Preferences, the ministry said, referring to a U.S. trade facility given to poor and developing economies.
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Demonstrators in Sheung Shui chanted slogans decrying Chinese "parallel traders" who sell duty-free Hong Kong goods in China at a profit, which Hong Kong residents have blamed for pushing up prices in the semi-autonomous city.
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Duty-free store operator Lao Co Ltd climbed 5 percent after it agreed to a business deal that allows customers to earn airline miles with ANA Holdings Inc when they use its credit cards at Lao shops.
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The new auto guidelines set a higher bar for cars and auto parts that can be imported duty-free, based on the origin of their parts and labor rules of the countries in which they were made.
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Duty-free quota was awarded for 10 to 15 vessels, or between 600,000 and 1,050,000 tonnes, said the two U.S. traders, who asked not to be identified as they are not authorized to speak to the media.
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Lawmakers have speculated that companies received, or hoped to receive, favors from Ms. Park in return for the money, including presidential pardons for company chairmen imprisoned for corruption or lucrative government licenses to run duty-free shops.
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Looking at international terminals in U.S. airports, the Daniel K. Inouye International Airport in Honolulu offered the cheapest duty-free prices overall, while The Points Guy team found the highest prices in the Seattle-Tacoma International Airport.
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From June 5, President Donald Trump scrapped trade privileges under the Generalized System of Preferences (GSP) for India, the biggest beneficiary of a scheme that allowed duty-free exports of up to $142.1 billion from the country.
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Soybeans slumped to a two-week low on an accelerating harvest and as Chinese purchases of U.S. shipments have not lived up to trade expectations after Beijing offered crushers a quota of duty-free imports early this week.
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Hotel Lotte said prosecutors are looking into whether Shin conspired with her son and the chief executive of an unidentified firm to receive bribes from local cosmetics company Nature Republic in exchange for Lotte Duty Free store space.
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PHNOM PENH (Reuters) - A Cambodian court has acquitted six prominent union leaders who had been convicted of instigating violent anti-government protests, amid threats from the European Union to suspend the Southeast Asian country's duty-free trading access.
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The rules, which lay out who can receive quotas to import some agricultural products duty-free from countries that ratify the deal, vary between products, but in some categories nearly all the quotas are earmarked for Canadian processors.
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China online sales are only a small proportion of total revenue - about 10 percent for Lotte Duty Free last year - but they hope it will set the stage for a strong recovery once the travel ban is lifted.
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Several automotive trade groups said side letters to the USMCA deal that allow Canada and Mexico duty-free auto import quotas in the event that Trump imposes car tariffs was an indication that such a move seemed inevitable.
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The duty-free business took off in 2006 when it was granted an airport monopoly under the government of then prime minister Thaksin Shinawatra, but it continued to prosper even after Thaksin's ouster in a coup that year.
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Duty-free auto parts exports from Mexico to the United States could be capped at $90 billion a year under the agreement, said Ann Wilson, senior vice president of government affairs at the Motor and Equipment Manufacturers Association.
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ISTANBUL (Reuters) - The Turkish lira plunged to a record low on Monday after the Trump administration said it was reviewing Turkey's duty-free access to the U.S. market, a move that could affect $1.7 billion of Turkish exports.
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STOCKHOLM (Reuters) - Scandinavian airline SAS will stop selling duty-free goods on board its flights to save fuel and inch closer to its goal of cutting emissions by at least 25 percent by 2030, it said on Tuesday.
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BANGKOK (Reuters) - Airports of Thailand PCL (AOT) will postpone the auction for its biggest duty-free concession by as much as two weeks to address public concern about the process' perceived monopolistic structure, its president said on Monday.
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The announcement comes as Prime Minister Prayuth Chan-ocha last week called for a review of the auction, after retail groups and activists objected to the winning bidder being granted control of duty-free operations at multiple airports.
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It is known for its 2012 investment in e-commerce giant Alibaba and other profitable deals such as its 2011 purchase of a controlling stake in Sunrise Duty Free, a retailer with outlets at Beijing and Shanghai airports.
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Mexican and U.S. officials are due to meet again next week to work on contentious issues such as wages and rules governing how much North American produced content an automobile must contain to qualify for duty-free status.
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Under the USMCA, almost half of all auto content must be made by workers earning at least $16 per hour in order to receive duty-free treatment, which is more than three times higher than Mexico's minimum wage.
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Charnchai Issarasenarak filed a suit last week accusing Thailand's biggest duty-free retailer of criminally failing to pay the Thai government 14 billion baht ($413 million) from the operation of the airport franchise it was granted in 2006.
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And while some favoring Brexit suggest that German carmakers, for instance, will seek duty-free status for Britain in any future deal, Britain is largely postindustrial, with trade in goods representing only about 20 percent of the economy.
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Shin Dong-bin, the boss of Lotte, a Korean-Japanese conglomerate best known for its duty-free shops, is awaiting a ruling on the suspension of his sentence in a related influence-peddling case (he maintains his innocence).
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Orbital ATK has registered each of these as a Foreign Trade Zone, a legal distinction that is the industrial equivalent to a duty free shop at an airport and saves the company paying steep taxes on imported parts.
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The collapse of Nafta threatens to reduce the volume of exports to the United States by removing their duty-free access and to halt investment by companies that establish Mexican factories to make products for the American market.
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"We have been leading the industry to tackle the issue of drinking to excess in the airport before flying, as well as the illicit consumption of duty free alcohol on board the aircraft, for some time," he said.
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If the United States, Mexico, and Canada raise the value of online purchases that can be imported duty-free as part of a modernized North American Free Trade Agreement, Amazon may be poised to reap rewards in Mexico.
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A big mover was the Turkish lira, which fell to a record low on Monday after Washington said it was reviewing Ankara's duty-free access to the U.S. market as tensions between the two NATO allies ramped up.
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Prosecutors allege Shin received bribes of about 3 billion won ($2.6 million) as requests for preferential treatment for brands in Lotte Duty Free stores, a prosecution source with direct knowledge of the matter told Reuters earlier this week.
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Kazakhstan's Elena Rybakina, a finalist in the Dubai Duty Free Tennis Championships last weekend, kept the momentum rolling at the Qatar Total Open in Doha on Monday by rallying from a set down to defeat Romania's Sorana Cirstea.
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The demonstrators in Sheung Shui vented their anger at so-called "parallel traders" from China who buy vast amounts of duty free goods in Hong Kong and take them back to the mainland to sell at a profit.
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SEOUL (Reuters) - Hotel Lotte Co Ltd's duty free division said on Monday it chooses the products it sells "fairly and objectively" - responding to a bribery investigation that has delayed a roadshow for the South Korean company's $4.9 billion IPO.
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High-end duty-free retailer DFS opened its new concept stores - complete with whiskey, wine, cigar and tobacco rooms, bartenders, complementary tastings and even virtual reality installations – in Changi's Terminals 2 and 3 with precisely these customers in mind.
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A big mover was the Turkish lira, which struggled near a record low plumbed on Monday after Washington said it was reviewing Ankara's duty-free access to the U.S. market as tensions between the two NATO allies ramped up.
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Imperial Pacific International Holdings, which owns the Imperial Pacific project, already operates a small temporary gambling facility nearby called Best Sunshine Live, which began operating in late 2015 in a duty-free shop near the larger hotel construction site.
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But in 2015, South Africa's powerful poultry industry agreed to exclude 65,2476 tonnes of U.S. chicken from the anti-dumping tariff - in return for the renewal of broader duty-free U.S. trade access that benefited other South African industries.
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About 75 percent of Philippine exports to the United States already enter the American market duty-free, but Manila wants to gain market access for its garments and textiles, wristwatches and agricultural products, including top export carrageenan and seaweed.
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Dufry bought its initial World Duty Free stake from Edizione, the holding company of the Benetton family while last month U.S. conglomerate United Technologies said it would buy a 70 percent stake in family-owned heating systems group Riello.
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The government plans to allow South Korean duty-free firms and retailers operating in China to defer all or part of their corporate income and value-added taxes for up to nine months, the finance ministry said on Thursday.
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But the people here rub together, with more Asian supporters for soccer than in most English cities — the team is owned by a Thai, Vichai Srivaddhanaprabha, who made millions from duty-free shopping — and a significant reputation for tolerance.
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The Benettons, who last year pocketed 1.3 billion euros from the sale of airport caterer World Duty Free, want to invest in Italian firms that have high potential to expand abroad, Gilberto Benetton, Edizione Holding chairman, said last month.
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The European Union has threatened the preferential trade terms which Cambodia gets through its Everything But Arms (EBA) scheme that gives 47 of the world's poorest countries duty-free, quota-free access for all products except arms and ammunition.
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BANGKOK (Reuters) - Thailand still has time to renegotiate with the United States over a suspension of duty-free preferences on imports of Thai goods before the suspension takes effect in April, U.S. Commerce Secretary Wilbur Ross said on Monday.
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That's why I'm calling on the president to ensure any tariffs are tailored to address unfair trade practices and exempt fairly traded products, and to allow U.S. businesses duty-free access to products they cannot obtain from domestic suppliers.
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BANGKOK (Reuters) - A Thai court on Tuesday said it would extend a hearing into accusations of graft against Airports of Thailand Pcl (AOT) and duty-free retailer King Power, delaying a decision on whether to take up the case.
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That might be an annoyance of the past at Singapore's Changi airport which is testing facial recognition systems that could, in future, help locate lost travelers or those spending a little too much time in the duty-free shops.
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Vichai, 60, founder of Thai duty-free giant King Power International, was killed last Saturday along with four others when his helicopter crashed outside the King Power Stadium in the English city of Leicester after a Premier League match.
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Red Bull have also worked with the cofounders of NON to assemble a duty-free pop-up shop, where items such as NON apparel, NON accessories, including pocketknives and airplane pillows, and even a NON flag, will be sold.
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At $11.1 billion last year, Britain is its second-largest export market, which under a hard Brexit it would lose customs duty-free access to, pushing Ankara to $2.4 billion in lost exports annually according to a UN estimate.
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The Motor and Equipment Manufacturers Association, which represents parts makers, is worried about a side agreement that the Trump administration reached with Mexico that could be used to cap duty-free auto imports from that country in the future.
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The Dubai Turf was held in 22, the first year of the Dubai World Cup, but it was known as the Dubai Duty Free through 2400 and originally run on dirt before being moved to the grass in 21981.
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Those tariffs, which would hit mostly consumer items, are set to begin taking effect September 1, though most goods will be duty-free until December 15 -- a move Trump made to avoid putting a damper on holiday retail sales.
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A tightening of the so-called rules of origin, which specify the percentage of a finished product that must be made within North America to qualify for duty-free access within the region, would prevent China from exploiting loopholes.
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Imperial Pacific International Holdings, which owns the Imperial Pacific project, already operates a small temporary gambling facility nearby called Best Sunshine Live, which began operating in late 2015 in a duty-free shop near the larger hotel construction site.
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Trump looked to have already opened a new front on Monday with a plan to end preferential trade treatment for India that allows duty-free entry for up to $5.6 billion worth of its exports to the United States.
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Britain would prefer a duty-free customs relationship with the European Union if one can be negotiated on British terms, which would mean limits on the bloc's citizens working in Britain and the ability to do separate trade deals.
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The SIX Swiss Exchange reports that Stichting General Holdings has builtup a 20.3% stake in the struggling Swiss milk products company * Dufry said Spanish airport operator AENA extended the concession to operate duty-free shops at 25 Spanish airports.
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Some 80 percent of the goods from our 11 TPP partners were coming into the United States duty-free already, while our goods and services were still being hit with thousands of tariffs in their countries — which TPP eliminated.
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The duty-free business got a big boost in 2006 when it was granted an airport monopoly under the government of then prime minister Thaksin Shinawatra, and it continued to prosper even after Thaksin's ouster in a coup that year.
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Nowadays, over half the original parts for the vehicles made at Navistar's 250 acre (22018 hectare) site in the northern state of Nuevo Leon arrive duty-free from the United States and Canada in hundreds of trailers every day, Ruiz said.
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Foreign companies producing in that country did not have to buy Mexican inputs, so many businesses—like the maquiladoras in the textile and electronics industries—imported raw materials duty free and exported them again, generating few linkages with Mexican supply chains.
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The EU warned last year that it would strip Cambodia of its "Everything but Arms" (EBA) duty-free trading access, after long-time Prime Minister Hun Sen won every seat in a July general election following a crackdown on the opposition.
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Paulina Sánchez's photographs capture the lives of migrants in Mexicali, the capital city of Baja California, where duty-free factories allow American companies to take advantage of cheap labor in the production of goods to be shipped back across the border.
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"Given that these products will be able to come into the country duty free, it's not likely that there's any ability for us to compete," Korchmar said in a recent interview at his factory, which currently employs about 20 people.
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Retail revenue per passenger at Frankfurt fell to 3.31 euros in the first quarter from 3.86 euros one year ago, also hit by currency effects and more passengers on short-haul flights, who typically do not shop in duty free.
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Eliminating barriers to U.S. trade and investment is one of the criteria for membership of AGOA, which was renewed earlier last year and provides duty-free access to goods from sub-Saharan African countries, ranging from crude oil to clothing.
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Speaking to reporters, Malpica said "we are getting close" to an agreement on the so-called autos rules of origin, which dictate how much of a vehicle must be made in the three NAFTA nations to qualify for duty-free status.
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The American-owned Integer plant in Tijuana, for example, buys 90 percent of its raw materials, essentially duty-free, from the U.S.: stainless steel to be stamped into cups used for hip replacements and plastic to be molded into catheters.
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Hotel Lotte, which runs hotels and duty free shops, said on Monday it was postponing indefinitely its $4.5 billion initial public offering due to recent "internal and external issues", amid a widening probe into the company and its parent group.
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The American-owned Integer plant in Tijuana, for example, buys 90 percent of its raw materials, essentially duty-free, from the United States: stainless steel to be stamped into cups used for hip replacements and plastic to be molded into catheters.
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Prosecutors have been investigating whether Shin Young-ja, who is also a director of Lotte Group's hotel unit, received bribes from local cosmetics company Nature Republic in exchange for Lotte Duty Free store space, Hotel Lotte previously said in a filing.
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COLOMBO (Reuters) - The European Union will consider stripping Sri Lanka of its duty-free access if it backs off commitments on rights, the EU ambassador said, amid worries stoked by the president's replacing of the elected premier by a wartime nationalist.
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SEOUL, June 6 (Reuters) - The duty free division of Hotel Lotte Co Ltd said on Monday that it chooses its brands "fairly and objectively," after South Korean prosecutors began a bribery investigation that has delayed the company's overseas IPO roadshow.
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Indian nationals can export a certain quantity of gold from Dubai duty free -- 1.4 ounces for women, 0.88 ounces for men -- and a 13% customs duty is imposed in India on weights above that, up to a limit of 20153 pounds.
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The fallout from the probe has already seen the derailment of a planned initial public offering worth up $4.5 billion for Lotte's hotel and duty free unit, as well as Lotte Chemical bowing out of bidding for a U.S. company.
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That is why there is a majority in Congress that could pass a new NAFTA that sustains duty-free access for U.S. exports but eliminates the corporate poison pills and adds strong labor and environmental standards with swift and certain enforcement.
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At $11.1 billion (£8.87 billion) last year, Britain is its second-largest export market, which under a hard Brexit it would lose customs duty-free access to, pushing Ankara to $2.4 billion in lost exports annually according to a UN estimate.
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Freda has also been building on Estee Lauder's duty-free business, recognizing that airports and tax-free zones were ideal places for capturing customers from the emerging wealthy classes in South Korea, China, Brazil and the Middle East, Cramer said.
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One reason for that may be that analysts assume if we pull out of NAFTA, the U.S.-Canada free trade agreement negotiated five years before NAFTA would kick in, and we still would be able to export to Canada duty-free.
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French firm Lagardère Travel Retail has been contracted to operate 1,000 square meters of duty-free stores on the site, and the AIBD team are planning for commercial development of the surrounding area including hotels, malls, restaurants and business facilities.
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It is in discussions with Heathrow Airport and others over how its technology could be used to deliver duty-free goods to retail outlets, or to move baggage around terminals, and wants an airport to provide funding for a commercial pilot.
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Below-normal monsoon rains and an infestation of the fall armyworm, which devastated African crops in 2017, have slashed India's corn output and boosted prices, increasing chances the government will grant duty-free corn imports for the first time since 2016.
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Among the optimists about the future of travel, David Scowsill, president and chief executive of the World Travel & Tourism Council, notes that one significant event this summer actually had something of a silver lining for fragrance and duty-free companies.
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In Siem Reap, Cambodia, the 86,000-square-foot T Galleria by DFS (yes, the "duty free" folks, though this is not your standard airport experience) houses a multitude of brands alongside reflecting pools, verdant gardens and work from local artisans.
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Further, Washington is apparently insisting on "rules of origin" that would require Canadian and Mexican vehicles to contain no less than 50 percent American parts and services for duty-free entry into the United States, an onerous demand benefiting American producers.
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The key issues facing negotiators include: RULES OF ORIGIN: NAFTA says in order for a good to be traded duty-free within the three countries, it must contain a certain percentage of North American content, which differs for various products.
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The new rule, announced in March and put into effect on Monday, also means that garbage bags will be taken off supermarket shelves and visitors entering Kenya will be required to leave their duty-free shopping bags at the airport.
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DUBAI (Reuters) - Former world number one Kim Clijsters will return to professional tennis for the first time in seven years at the Dubai Duty Free Tennis Championships on Monday - but she has been handed a tough first round match-up.
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Much of the rest was sent on to Russia or to other countries inside the customs union of which Kyrgyzstan is a member, labelled as goods on which duty had been paid and which were therefore entitled to enter duty-free.
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"Given that these products will be able to come into the country duty-free, it's not likely that there's any ability for us to compete," Korchmar said in a recent interview at his factory, which currently employs about 20 people.
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ZURICH, Sept 25 (Reuters) - China's HNA Group repeatedly provided false reporting of beneficial owners of the company's former stake in duty free group Dufry, Swiss financial markets watchdog FINMA said on Wednesday, resulting in a "serious breach of disclosure obligations".
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The American-owned Integer plant in Tijuana, for example, buys 90 percent of its raw materials, essentially duty-free, from the United States: stainless steel to be stamped into cups used for hip replacements and plastic to be molded into catheters.
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BANGKOK, June 19 (Reuters) - Airports of Thailand Pcl (AOT) on Wednesday approved King Power Group's $494 million bids for duty-free retailing at its major airports over rival contenders, including a group of South Korea's Lotte and Bangkok Airways Pcl.
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The United States and Mexico have agreed to raise to 75 percent the regional auto content threshold to qualify for duty free market access in the NAFTA region, up from the current level of 62.5 percent, a U.S. trade official said.
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