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On July 7th, Sinopec Oilfield Service (01033.HK) announced on the Hong Kong Stock Exchange that its wholly-owned subsidiary won the bid for the first section (279 km) of the Heihe-Daqing-Changling natural gas pipeline, a key national "14th Five-Year Plan" energy infrastructure project. The contract value is RMB 1.772 billion, accounting for 2.2% of the companys estimated revenue in 2025. This project is a crucial section of the southern extension of the China-Russia East Route natural gas pipeline, responding to the national deployment to accelerate the construction of oil and gas pipeline networks and ensure energy supply, highlighting the companys rare engineering capabilities in the long-distance pipeline EPC field. It should be noted that the contract has not yet been formally signed, and there is uncertainty regarding its execution.On July 7th, Tencent Holdings (00700.HK) officially launched the iOS version of its AI application generation and inspiration co-creation platform, "Toast." This marks Toasts full coverage of both mobile platforms (iOS and Android). Since its launch in May this year, Toast-generated applications have served nearly 30,000 users, with nearly 50,000 applications created on the platform. It is reported that in August, Toast will fully open its one-stop listing service, commercial component capabilities, and more API capabilities to the developer ecosystem, helping more users and developers with ideas move from "application generation" to "application listing" and continuous operation.July 7th - Duoniu Technology (01961.HK) announced that its board of directors has stated that, as of the date of this announcement, the company and its auditors have not yet reached an agreement on commencing the audit of the Groups consolidated financial statements for the year ended December 31, 2025. Therefore, it is expected that more time will be needed to publish the 2025 annual results. Despite the suspension of trading in the companys shares, the Group continues its business operations as usual. Trading in the companys shares will remain suspended until further notice.On July 7th, Beijing Urban Construction Design Group Co., Ltd. (01599.HK) issued a voluntary announcement dated July 7, 2026, detailing the winning bids for significant projects in the second quarter of 2026 (the three months ended June 30, 2026). The announcement shows that the Groups total winning bids for the period amounted to approximately RMB 959 million (unaudited), of which RMB 414 million were in the surveying, design, and consulting sector, and RMB 545 million were in the engineering general contracting sector.July 7th - Gareth Leather, senior Asia economist at Capital Economics, stated that Asian central banks are unlikely to rush to reverse their recent interest rate hikes given the escalating risks of El Niño to food price increases. Central banks responded aggressively to the earlier surge in energy prices, with many raising rates at least once. While the subsequent decline in energy prices reduced the urgency for further policy tightening, El Niño may keep them cautious. The impact of El Niño could be more significant than the energy shock because food carries a higher weight than energy in the Asian consumer price basket. Capital Economics continues to expect India, Pakistan, and South Korea to further tighten monetary policy in the coming months.

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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