road freight volume drops in first five months
BEIJING, – China’s road freight volume fell 4.6 percent year on year in the first five months of the year, data from the Ministry of Transport showed. About 14.37 billion tonnes of road cargo were transported during this period, according to the ministry. In May alone, China’s road freight volume neared 3.26 billion tonnes, the…
electric vehicle industry
June 21- China continues to expand its investment to support the development of Indonesia’s electric vehicle industry. Contemporary Amperex Technology (CATL), one of the leading companies among the world’s electric vehicle battery manufacturers and supplies to various automakers, including Tesla and Volkswagen, is one of the Chinese companies investing in this Southeast Asian country. A…
China goes all out to bolster employment for college graduates in record year
BEIJING, – In a year where a record 10.76 million graduates stream out of colleges, China is living out its jobs-first commitment to helping them enter the workforce against COVID-19-induced snarls. This job-hunting season may prove challenging for college graduates due to COVID-19-hampered job interviews and lukewarm demand for fresh labor, said Wu Aihua, an…
Morning Report Tuesday June 21, 2022
Latest news • US financial markets were closed on Monday in observance of the Juneteenth National Independence Day holiday. • St. Louis Federal Reserve President James Bullard spoke at an event hosted by the AXA-Barcelona School of Economics on Monday. President Bullard said, “US inflation expectations could become unmoored without credible Fed [Federal Reserve] action.”…
Squirrel Super to pay $55,000 penalty for misleading marketing
The Federal Court has ordered Squirrel Superannuation Services Pty Ltd pay a $55,000 penalty for false and misleading marketing regarding investing in residential property via self-managed superannuation funds (SMSF). The Court found Squirrel distributed a brochure conveying misleading representations about residential property investment returns at a seminar and via email on about 9,420 occasions, between…
Digital channels empower retailers during mid-year shopping festival
SHANGHAI – Livestreamed fashion week, up to 50 percent discount vouchers and more convenient group purchase options were some of the new features of this year’s mid-year online shopping festival in Shanghai. The “618” online shopping fest that took place on June 18 was the first shopping spree after Shanghai eased COVID-19 curbs and resumed…
ICBC issues 10Bln in green bonds for carbon neutrality
BEIJING – The Industrial and Commercial Bank of China (ICBC), the country’s biggest commercial lender, has issued 10 billion yuan (about 1.5 billion U.S. dollars) of green bonds to support the country’s pursuit of carbon neutrality. The bonds will raise funds for projects that can effectively reduce carbon emissions, such as wind power, the bank…
CommSec morning report Monday
The US Federal Reserve issued its twice-yearly monetary policy report to Congress, saying that “The Committee’s commitment to restoring price stability – which is necessary for sustaining a strong labor market – is unconditional.” In US economic data, industrial production rose by 0.2% in May (survey: +0.4%) to be up 5.8% on the year. The…
Evening report Monday
The Aussie sharemarket fell for the seventh straight day – its longest losing streak since March 2020 – after the ASX 200 retreated by another 0.6 per cent or 41 pts, to 6433.4. Resource stocks weighed most, on concerns that an economic slowdown would reduce commodities demand. The Materials sector had its worst day in…
Getting home with a soft landing
Faced with the current spate of delays and cancellations, most of us would accept any kind of landing – hard, soft, skidding to a halt – just get us home, please. For the Federal Reserve (Fed) and other central banks, however, easing the inflationary economy onto the runway safely and comfortably is all that matters….
