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A U.S. appeals court rejected the Trump administrations request to implement rules restricting mail-in voting.September 11 – According to the Wall Street Journal, citing informed officials in the US and the Middle East, Iran has resumed ballistic missile production, reassembling missiles in underground facilities using previously stockpiled components. Sources say Iran is producing liquid-fueled and solid-fueled ballistic missiles and is operating at multiple underground locations, including the Khojir missile facility in southeastern Iran, while also attempting to build new underground assembly sites to avoid further attacks. The report states that Iran is currently relying primarily on existing stockpiled components for low-scale production, with output below pre-war levels. A US official stated that Iran may be assembling at least several hundred missiles using existing components. The report cites analysts as saying that Iran previously stockpiled warheads, missile bodies, and guidance and control systems; new missile production depends on the size of the stockpile and the recovery of underground facilities, and could reach hundreds or even thousands of missiles. US Department of Defense spokesman Parnell stated that the US has destroyed "up to 90%" of Irans drones, ballistic missiles, and naval industrial infrastructure. Previously, US Defense Secretary Hergsays also stated that Irans missile program had been "substantially destroyed." However, satellite images show that Iran is repairing roads, bridges, production facilities, and missile base tunnel entrances, raising concerns among US and Israeli officials that its military capabilities are being restored.According to the Wall Street Journal, informed U.S. and Middle Eastern officials say Iran has resumed ballistic missile production using stockpiled parts and in underground facilities, undermining major war gains previously claimed by the U.S. and Israel.According to Al Jazeera, the UN Security Council meeting on Yemen, requested by the UK and Bahrain, will be held tonight local time.Officials involved: Federal Aviation Administration (FAA) Administrator Bryan Bedford met with airline CEOs on Thursday to discuss plans to use software systems to reduce flight delays.

Profit Increases for Chinese Shipping Giant COSCO in the First Nine Months

Aria Thomas

Oct 11, 2022 11:21

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Increases in sea freight rates have enabled COSCO SHIPPING Holdings Co Ltd (SS:601919), the publicly traded company of the eponymous shipping behemoth, to forecast a higher net income for the past nine months.


The company forecasts a net profit attributable to shareholders of approximately 97.21 billion yuan ($13.59 billion) for the nine months ending September 30, 2017, a 43.7% increase over the same period in 2016. The anticipated earnings before interest and taxes amount to 143.59 billion yuan, an increase of over 50 percent from the prior year.


COSCO explained to the Hong Kong Stock Exchange that export freight rates remained high due to the tight supply-and-demand connection in international transportation.


The company's decision to implement cost-cutting measures has been attributed to both a local epidemic of COVID-19 and broader geopolitical tensions stemming from the conflict between Russia and Ukraine.


Despite a slowdown in domestic output and a decline in demand for exports and imports, China's commercial activity has remained relatively constant thus far in 2018. Nonetheless, the steep decline in China's trade balance during the month of August may portend oncoming difficulties for large maritime corporations.


In August, import growth was virtually nonexistent, while export growth in China decreased from 18% to 7.1%. As a result, China's trade surplus shrunk to $79.39 billion in August, significantly below market expectations, as global economic turbulence hampered export demand.


This week, additional information regarding China's international trade in September is expected to become available. This information will also serve as a baseline for the economy, which is still feeling the consequences of this year's COVID lockdowns.


As trade has slowed, shipping expenses have increased. According to data from the Shanghai Shipping Exchange, following a rather strong first half of the year during which COVID-related disruptions pushed up container reservations, Chinese shipping costs have declined considerably in recent months.

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