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August 25th - According to data platform Data.ai, AliExpress topped the Brazilian shopping download charts on the first day of its August sales promotion, surpassing platforms such as Meitu, Amazon, Temu, and Shopee. First-day sales surged 85% compared to the June promotion, with brand merchants, represented by Brand+, driving the growth. This year, AliExpress has increased its investment in the Brazilian market, resulting in explosive growth in both cross-border small parcels and large items from overseas warehouses, with Chinese brands continuing to grow.August 25th - A measure of underlying inflation by the Bank of Japan (BOJ) remains above its 2% target, supporting widespread market expectations of a September interest rate hike. The BOJ stated on Tuesday that its consumer price index, excluding fresh food and the effects of several government measures, rose 2.3% year-on-year in July. In contrast, the core inflation indicator (excluding fresh food only), released by the Japanese government last week, rose 1.8% year-on-year. These figures are part of a new batch of price indicators introduced by BOJ Governor Kazuo Ueda in March, designed to provide a more detailed view of underlying inflation trends. The data further indicates that underlying inflationary pressures remain strong. Businesses are facing rising costs due to energy prices driven by the Middle East conflict and are passing on these higher input costs to consumers. This result reinforces the BOJs view that greater vigilance is needed regarding upside risks to inflation. The market currently prices in an approximately 80% probability of a September rate hike by the BOJ.On August 25th, Commonwealth Bank economist Belinda Allen stated that the Reserve Bank of Australia (RBA) believes inflation risks are skewed to the upside, and the debate over the correct policy response is intensifying. She said, "Is the committee losing patience? Perhaps. Its also possible that this is a verbal intervention to ensure financial conditions remain tight until inflation makes more substantial progress." Allen added that current inflation data is insufficient to declare victory, although second-quarter inflation figures were lower than expected, a large part of which was due to the impact of volatile items, which are at risk of rebounding in the coming months.On August 25, the wife of a U.S. Army sergeant was deported back to Honduras on Monday, becoming the latest example of the Trump administrations immigration crackdown affecting the families of U.S. military personnel. A spokesperson for the Department of Homeland Security (DHS) stated that the wife of U.S. Army Sergeant Hedar Lionel Turcios Juarez "was deported from the United States on Monday" and returned to Honduras. According to the Associated Press, this is at least the seventh spouse or parent of an active-duty U.S. military member to be deported under the Trump administrations immigration crackdown. According to ABC News, Turcios Juarez served nine months in the Middle East after enlisting in the military and became a U.S. citizen in 2024.BHPs Australian port workers submitted a wage counter-proposal ahead of their next meeting on September 8.

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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