EUR/USD 1.17249
-0.049%
Gold 4620.80
-0.020%
Oil 102.854
0.337%
USD/JPY 157.122
0.325%
GBP/USD 1.35994
-0.025%
GBP/JPY 213.684
0.312%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Japans Tokyo unadjusted CPI rose 0.6% month-on-month in April, down from 0.3% in the previous month.Japans Tokyo CPI rose 1.5% year-on-year in April, below the expected 1.70% and the previous reading of 1.40%.Japans core CPI in Tokyo rose 1.5% year-on-year in April, below the expected 1.80% and the previous reading of 1.70%.May 1 – Brazils state-owned oil and gas company, Petrobras, reported record oil and gas production in the first quarter, with its refineries operating near full capacity. This underscores Brazils growing importance in the global energy market amid the impact of the Iran-Iraq conflict. Petrobras stated that oil and gas production increased by 16% year-on-year, reaching 3.23 million barrels of oil equivalent per day. Its refinery capacity utilization rate reached its highest monthly level since 2014 in March, currently standing at 95%, reducing the need for fuel imports. The increased production and refining capacity of Petrobras will help the country cope with the economic impact of the conflict in the Middle East. The companys management has been working with the government to control rising fuel prices and ensure stable supply.May 1st - Despite Apple (AAPL.O) stating it expects continued chip supply constraints, its quarterly revenue guidance exceeded expectations, driving its stock price up in after-hours trading. Apples CFO stated that the company expects third-quarter revenue to grow 14% to 17% year-over-year, higher than Wall Streets expectation of 9.5%. Apple is no longer committed to bringing its net cash (cash minus debt) to zero. Apple set this goal in 2018, but at the end of its first fiscal quarter in January of this year, its net cash was still $54 billion.

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."


Suggestion