International News 06/03
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Ukraine requires a comprehensive strategy for exporting food products to the European Union.
The deputy minister of agrarian and food policy, Markiyan Dmytrasevych, has urged the European Union (EU) to provide long-term access to the EU market for Ukrainian food producers. Dmytrasevych argues that the current approach of expanding trade policies annually and relying on political pressure is not sustainable. Ukraine aims to permanently remove agricultural import tariffs and quotas imposed by the EU. This can be achieved by either renewing its existing trade agreement with the EU or extending the current suspension for three years. Dmytrasevych emphasized the need for more convenient planning, as negotiations require significant resources. Recently, Ukrainian food exporters have faced protests from EU farmers who believe they are facing unfair competition from cheaper Ukrainian products. The European Commission has proposed extending the lifting of import duties and quotas on Ukrainian agricultural products for an additional year until June 2025. However, Dmytrasevych is advocating for a more long-term solution.
General Motors is recalling 820,000 problematic trucks.
General Motors has recalled 820,000 new pickup trucks in North America due to a potential issue with the rear doors. The recall applies to trucks manufactured between 2020 and 2024, which are equipped with rear doors that have electric locks. GM discovered that water could enter the rear door switch, leading to a short circuit when parking and causing the door to open unexpectedly. Although there has been one minor injury incident and three minor property damage complaints reported, this recall is one of the largest for GM. The recall affects 570,000 trucks in the United States and 250,000 trucks in Canada. GM dealers will replace the exterior touch panel switch assembly with new materials that enhance resistance to water intrusion. While replacement parts are not currently available, truck owners can request that the feature not be activated.
https://internasional.kontan.co.id/news/general-motors-menarik-kembali-820000-truk-bermasalah
Japan's Nikkei Index has broken the 40,000 mark for the first time, driven by a surge in tech stocks.
On Monday, Japan's main stock index, the Nikkei, reached 40,000 points for the first time. The steady upward trend is attributed to corporate governance reforms and low valuations. The rise was also driven by the surge in technology stocks, similar to their American counterparts. Foreign investors, particularly those with medium- to long-term perspectives, have been leading the buying trend. Masahiro Ichikawa, the chief market strategist at Sumitomo Mitsui DS Asset Management, is optimistic that the market will continue to grow. The ongoing rally in artificial intelligence in the US stock market had a positive impact on Japanese tech stocks. Companies such as Advantest and Tokyo Electron, involved in chip testing and manufacturing equipment, respectively, experienced significant gains. Overall, the market is on a bullish trajectory.