• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On May 21, Goldman Sachs issued a research report stating that Alibaba (09988.HK)s (the first day of the Alibaba Cloud Summit in Hangzhou, coupled with the Chairman and CEOs letter to shareholders released on the same day, indicates that the group is entering a new phase of significant investment in the era of AI agents. Management emphasized that the industry is at a critical turning point in the development of Artificial General Intelligence (AGI), with a large number of AI agents driven by model-generated tokens taking on a larger share of work and becoming the main interface between humans and the digital world. The bank believes that a portfolio of AI agent products can support Alibabas recently announced annual recurring revenue (ARR) targets for MaaS, reaching RMB 10 billion in the June quarter and RMB 30 billion by the end of fiscal year 2027. Goldman Sachs believes that Alibabas current valuation does not fully reflect its comprehensive AI layout and international cloud potential, and expects the group to increase its investment in AI enterprises and the consumer sector in the next 12 to 24 months, while achieving double-digit profit growth. The bank maintains its buy rating on Alibaba and places it on its Asia Pacific conviction buy list, with a 12-month target price of HKD 180.Germanys May composite PMI preliminary reading was 48.6, below the expected 48.4 and the previous reading of 48.4.Germanys preliminary manufacturing PMI for May was 49.9, below the expected 51 and the previous reading of 51.4.Germanys preliminary services PMI for May was 47.8, in line with expectations of 47 and the previous reading of 46.9.On May 21, the General Administration of Customs held a briefing to interpret the recently issued "Several Measures on Promoting the Expansion and Quality Improvement of Comprehensive Bonded Zones" and invited relevant enterprises to exchange and explain their policies. The meeting noted that by 2025, comprehensive bonded zones will achieve an import and export value of 7.2 trillion yuan, a year-on-year increase of 8.2%, accounting for 15.9% of the national total. From January to April this year, the import and export value reached 2.7 trillion yuan, a year-on-year increase of 25.2%, accounting for 16.8% of the national total. With only 0.05% of the countrys land area, these zones contribute one-sixth of the nations foreign trade import and export value, becoming an important platform for serving my countrys foreign trade development.

The conclusion of the Argentine truckers' strike increases grain shipments

Charlie Brooks

Jul 01, 2022 11:36


The Argentine truckers' strike ended on Thursday, when several unions incensed by fuel shortages reached an agreement to terminate the one-week protest near the vital port of Rosario, which is expected to assist future grain exports.


The truck driver's protest over high gasoline prices has halted shipments of corn and other goods, just as the bulk of the harvest was making its way to ports for export to worldwide markets.


Due to the exclusion of a few tiny truckers groups from the deal, however, it is possible that certain protests may continue.


Argentina is the second-largest exporter of maize, the top exporter of processed soy oil and meal, and a major supplier of wheat and beef.


One of the unions, Autoconvocados Unidos, issued the following statement: "Despite our dissatisfaction (with the latest settlement of truck freight rates) and in light of the present crisis in our country, we have chosen to halt the strike."


The union described their action as an act of kindness.


The number of trucks entering ports surged by 70 percent on Thursday compared to the previous day, reaching approximately 1,500 vehicles, as reported by the Rosario grains market.


The Rosario ports are the departure point for 80 percent of Argentina's agricultural exports, the vast majority of which are transported by truck.


The ability of trucks to access the port is returning to normal, according to the manager of the country's marine port chamber, Guillermo Wade.


Additionally on Wednesday, the transport ministry secured a deal with non-striking agricultural and transport groups to hike grain freight charges by 25%.


However, the majority of protesting unions, led by the UNTRA truckers' union, felt the rate increase insufficient and chose to dismantle highway blockades.


The head of the UNTRA, Carlos Geneiro, said, "We have far greater expenses than that."