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Reserve Bank of Australia Governor Bullock: We may have already reached the limits of potential growth. Inflation has unexpectedly risen.On December 3, JD Industry announced on the Hong Kong Stock Exchange that it plans to issue approximately 211 million shares in its Hong Kong IPO (subject to the exercise of the over-allotment option), with a price range of HK$12.7 to HK$15.5, and plans to commence trading on December 11.On December 3, at a formal meeting of the World Trade Organizations Trade Policy Review Body held on December 2, China expressed its position on the WTOs latest report on member trade measures, calling on members to fulfill their notification obligations regarding trade measures, enhance trade policy transparency, and maintain the stable operation of the multilateral trading system. The Chinese statement pointed out that the United States, as a WTO member with significant influence on international trade, has failed to promptly notify the WTO of its trade and related measures, adversely affecting the effective operation of the WTOs monitoring function. China urged members to actively fulfill their transparency obligations and, in the current volatile trade environment, proactively and promptly notify the WTO of new trade measures, particularly arrangements involving tariff changes, regardless of their legal binding force, all of which should be included in the monitoring and notification scope.The API reported that U.S. crude oil production increased by 416,000 barrels per day in the week ending November 28, compared with 337,000 barrels per day in the previous week.U.S. refined product imports for the week ending November 28 were 125,000 barrels per day, compared to 245,000 barrels per day in the previous week.

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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