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February 10th - Overnight, US stocks rose slightly, while Hong Kong stocks continued their strong performance from yesterday, breaking through the 10-day moving average at the open. The Hang Seng Index opened 175 points higher at 27202, before slightly retreating to 109 points. Subsequently, driven by capital inflows, it surged as much as 370 points to a high of 27397. At the close, the Hang Seng Index rose 0.54% in the morning session, while the Hang Seng Tech Index rose 0.84%. The total turnover of the Hang Seng Index market was HK$133.82 billion. On the sector front, artificial intelligence continued its strong upward momentum, with film, pharmaceutical outsourcing, and biopharmaceutical stocks leading the gains. Semiconductor stocks rose for the second consecutive day. Education, aviation, tourism, and dairy stocks were weak, while mainland property stocks retreated. In terms of individual stocks, Lexin Outdoor (02720.HK) surged over 121.8% on its first day of trading, Zhipu (02513.HK) rose over 21%, and CSPC Pharmaceutical Group (01093.HK) gained over 6%; New Oriental (09901.HK) fell 4.7%, and Meituan (03690.HK) and Haidilao (06862.HK) both dropped 3%.February 10th – The first meeting of the China-Cambodia Public-Private Sector Dialogue Mechanism was held on February 9th in Phnom Penh, the capital of Cambodia. Cambodian Deputy Prime Minister Sun Chanthol and other government officials and business representatives from both countries attended the meeting. Sun Chanthol expressed his gratitude to Chinese enterprises for their outstanding contributions to Cambodias economic and social development and hoped that both sides would actively respond to the demands of Chinese enterprises in Cambodia through the dialogue mechanism, creating a favorable environment for Chinese enterprises to expand their investment in Cambodia. Chinese Ambassador to Cambodia Wang Wenbin stated that this meeting has set a good precedent for the smooth operation of the China-Cambodia Public-Private Sector Dialogue Mechanism and hoped that both sides would continue to uphold the spirit of pragmatism, professionalism, and cooperation to safeguard and develop the common interests of China and Cambodia. At the meeting, China and Cambodia exchanged frank and in-depth views on resolving issues faced by Chinese enterprises in Cambodia, including taxation, customs clearance, and labor issues.On February 10th, five departments—the Ministry of Industry and Information Technology, the Ministry of Science and Technology, the Ministry of Housing and Urban-Rural Development, the State Administration for Market Regulation, and the State Intellectual Property Office—jointly issued the "Guideline for the Construction of a Standard System for the Science and Technology Service Industry (2025 Edition)." The guideline proposes that by 2027, more than 40 new national and industry standards for the science and technology service industry will be formulated, initially establishing a standard system that meets the high-quality development needs of the service industry, and conducting standard implementation work for more than 1,000 enterprises. By 2030, more than 80 new national and industry standards for the science and technology service industry will be formulated, basically establishing a standard system that meets the high-quality development needs of the service industry, with the effectiveness of standards serving enterprises becoming more prominent.The Federation of Automobile Dealers Associations of India (FADA) predicts that retail car sales will continue to grow steadily over the next three months.Federation of Automobile Dealers Associations of India (FADA): (View on near-term outlook) Demand remains visible across all market segments; cautiously optimistic.

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."


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