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Sources say Syria has agreed to significantly reduce its oil imports from Russia in order to cooperate with the United States in lifting its designation as a "state sponsor of terrorism."August 4th - Although rainfall across my country has generally weakened recently, heavy rainfall continues in parts of Shaanxi, Hubei, Yunnan, and South China. Scattered showers are expected in eastern Northwest China, western and northern North China, and northern Northeast China, with locally heavy downpours. Additionally, severe convective weather is active in parts of southern Heilongjiang, western Jilin, and northern and western Henan. Floods exceeding warning levels have occurred in the main stream of the Songhua River and some small and medium-sized rivers in Northeast and Southwest China. The flood control situation remains severe and complex. On August 4th, the State Flood Control and Drought Relief Headquarters Office and the Ministry of Emergency Management organized a rolling joint consultation with the China Meteorological Administration, the Ministry of Water Resources, the Ministry of Natural Resources, the Ministry of Industry and Information Technology, the Ministry of Housing and Urban-Rural Development, and the Ministry of Transport to assess the recent trend of heavy rainfall and deploy flood control work in key areas. The State Flood Control and Drought Relief Headquarters and the Ministry of Emergency Management maintain a Level IV emergency response for flood control in Shanxi, Heilongjiang, Yunnan, and Shaanxi.According to Reuters, a senior Iranian source said that the outbound shipping route through the Strait of Hormuz will follow the route between Iran and Oman.Country Garden (02007.HK): In July 2026, the company achieved contracted sales of approximately RMB 2.26 billion attributable to shareholders, with a contracted sales area of approximately 280,000 square meters attributable to shareholders.On August 4th, it was reported that in the first half of 2026, the State Administration for Market Regulation guided local market supervision departments to focus on optimizing random inspections and "comprehensive one-time inspections" to prevent multiple and duplicate inspections, achieving positive results. In the first half of 2026, market supervision departments conducted random inspections of approximately 540,000 enterprises, with joint inspections by various departments accounting for 27%. The "scan-to-enter" system was accelerated, and digital technology was strengthened, resulting in a reduction of over 240,000 on-site visits, a reduction of approximately 62%, significantly improving the efficiency and effectiveness of supervision, achieving minimal disruption, and further reducing the burden on enterprises. The deep integration of joint random inspections by various departments with credit risk classification management was promoted, resulting in a problem detection rate of 36%, significantly enhancing the accuracy and effectiveness of supervision. Inspection results were promptly publicized through the National Enterprise Credit Information Publicity System in accordance with the law. In the first half of 2026, approximately 200,000 enterprises were included in the list of enterprises with abnormal operations due to problems discovered during inspections, continuously strengthening the bottom line of market integrity and significantly enhancing the compliance awareness of business entities.

Profit for Olam Group in H1 Inches Higher; Further Restructuring Ahead

Charlie Brooks

Aug 12, 2022 10:55

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Olam Group Ltd (SGX:OLAG), a Singapore-based commodity trader, announced a slightly greater profit for the first half of 2022 and disclosed that it was evaluating "strategic alternatives" for two further companies.


Friday, the world's largest coffee distributor said that its net profit attributable to shareholders for the six months ending June 30 rose 1.8% to S$429.1 million ($313.2 million). The revenue increase to S$28.45 billion is attributable to the rise in commodity prices.


Despite volatile commodity markets caused by the Russia-Ukraine crisis and COVID lockdowns in China, Olam's agro products division, which deals in food and industrial items, remained the company's top revenue source.


Due to global market volatility, Olam's expenses rose by around 25%.


The firm claimed that it remained committed to spinning off its food ingredients business, OFI, via a London initial public offering, but was waiting for market conditions to improve. The business did not disclose a particular date for its 2021 initial public offering.


OFI, which deals in coffee, chocolate, and edible nuts, accounted for around fifty percent of Olam's first-half revenue. Initially, the group expected to issue the IPO in the June quarter, however owing to unfavorable market conditions, the IPO has been postponed indefinitely.


The business characterized its view for the remainder of 2022 as "cautiously optimistic" and expects Olam Agri to have a better performance than in 2021.


Olam indicated that it will consider "strategic options" for its venture capital and technology and business services businesses as part of a five-year plan to reduce its focus and increase earnings.


In accordance with the plan, the company claimed continuing progress in selling off less important assets and monetizing "gestating" assets.


Olam anticipates incurring further one-time expenditures linked to the reorganization in the second half of 2022, but at a lesser rate than in 2021.