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On September 21, following the turmoil at Situational Awareness, a hedge fund betting on artificial intelligence that resulted in massive losses for Jane Street, the Bank of England and the Federal Reserve have stepped up their scrutiny of banks exposure to large trading firms. Sources familiar with the matter said regulators are questioning global banks about their exposure to trading firms and market makers, including New York-based Jane Street and Ken Griffins Citadel Securities. These regulators had previously prioritized understanding banks exposure to so-called non-bank financial intermediaries. However, sources indicated that they have intensified their efforts to understand positions related to trading firms and market makers after this sell-off and Jane Streets losses. Regulators want information on these firms risk appetite, how banks exposure to them changes intraday, and how risk controls operate.On September 21, the National Medical Products Administration and the General Administration of Customs issued an announcement stating that, in order to further promote the digitalization of government services and improve the efficiency and facilitation of customs clearance services for imported medicines (including medicinal materials), a pilot program for electronic customs clearance of imported medicines (including medicinal materials) will be launched at Beijing ports, effective from the date of the announcement. Electronic customs clearance documents for imported medicines (including medicinal materials) have the same legal effect as paper documents. During the pilot period, existing paper documents remain valid, and enterprises can use them normally in accordance with relevant regulations.According to Afghanistans TOLOnews, local officials say a Pakistani airstrike in Afghanistans Kunar province has killed at least three people.The China Earthquake Networks Center officially reported that a magnitude 3.2 earthquake occurred at 10:59 a.m. on September 21 in Xinghai County, Hainan Prefecture, Qinghai Province (35.36 degrees north latitude, 99.56 degrees east longitude), with a focal depth of 10 kilometers.On September 21, in response to recent reports from quality inspections and media outlets regarding falsified inspection and testing reports in various sectors, the State Administration for Market Regulation (SAMR) launched a comprehensive campaign to rectify and strengthen the supervision of the entire inspection and testing chain, including pre-event, during-event, and post-event procedures. The campaign aims to thoroughly address irregularities in the inspection and testing industry, adhering to a problem-oriented, goal-oriented, and results-oriented approach. It will integrate system building, reform efforts, and innovation, combining immediate rectification with long-term institutional development, and managing both institutions and personnel. While strictly controlling qualification requirements, the campaign will focus on addressing shortcomings in the entire regulatory chain, strengthening the application of smart technologies, and improving collaborative governance mechanisms to continuously enhance regulatory effectiveness.

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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