Amazon’s Canadian Distribution Center Begins Operations

Short news quick reads 25/11/2024

Kim Jong-un’s Latest Statement: Korean Peninsula on the Brink of Nuclear War

Recently, Kim Jong-un, General Secretary of the Workers’ Party of Korea and Chairman of the State Affairs Commission, spoke at the “Defense Development-2024” weapons exhibition in Pyongyang. He stated that the situation on the Korean Peninsula is extremely dangerous and at a critical standoff, with the threat of destructive nuclear war imminent. On the 23rd, North Korea’s Ministry of Defense announced that its military has been elevated to combat readiness.

Turkey’s Economic Confidence Index Rises to 98 in October

According to data from the Turkish Statistical Institute, the economic confidence index rose by 3.2% in October to 98, reaching a five-month high. The consumer confidence index, real sector (manufacturing) confidence index, services confidence index, and retail confidence index increased by 3%, 3%, 1.5%, and 0.1%, respectively. However, the construction confidence index fell by 1.7%.

EU Lowers Italy’s Economic Forecast to 0.7%

The European Commission recently announced its latest forecast, predicting Italy’s real GDP will grow by 0.7% in 2024 (down from the 0.9% forecast in mid-May), and by 1% in 2025 and 1.2% in 2026 (both slightly down from previous forecasts). Increased consumption and accelerated spending related to the National Recovery and Resilience Plan (PNRR) are expected to drive economic growth.

Venezuela’s Remittance Income May Reach $4.5 Billion

Venezuelan economist Contreras recently noted that remittance income has been steadily increasing, from about $1.3 billion in 2019 to approximately $3 billion in 2023, and is expected to rise further to $4.5 billion in 2024, accounting for 6%-7% of Venezuela’s GDP. This growth is primarily due to the increasing number of Venezuelan migrants abroad, which the International Organization for Migration estimates at around 7.7 million as of April this year.

Amazon’s Canadian Distribution Center Begins Operations

Amazon recently announced the official start of operations at its new logistics distribution center in Cambridge, Ontario, Canada. The facility, covering 1 million square feet, began construction in 2022 and has started receiving goods and dispatching its first batch of packages. The center has already hired 250 employees and plans to recruit 1,000 more by the end of 2025, boosting the local economy.

Temu to Open Semi-Managed Platform in Vietnam

Temu recently announced the upcoming launch of its semi-managed platform in Vietnam. The platform is expected to be available to Vietnamese consumers starting November 24, though this date may change depending on legal considerations. Users are advised to stay updated through official announcements for the latest information. Additionally, new platforms will launch in the Netherlands, Belgium, and Sweden this month.

Ningbo Port’s Container Throughput Increases by 12.6% Year-on-Year

Ningbo Port recently announced that in October 2024, it handled 4.06 million TEUs, a year-on-year increase of 12.6%, and processed 94.61 million tons of cargo, a 0.1% increase. Chinese ports have now largely formed five major port clusters: the Yangtze River Delta, Pearl River Delta, Bohai Rim, Southeast Coast, and Southwest Coast.

Microsoft Opens First Research Base in Japan

Microsoft, the American tech giant, has opened its first research and development center in Tokyo. Named the Microsoft Asia Research Institute Tokyo Branch, it is the latest addition to Microsoft’s global series of technology labs. The lab plans to focus on the application of embodied AI in industries such as manufacturing and healthcare, and will collaborate with major Japanese companies and universities.

Mercedes-Benz Group’s Sales Decline by 6.7% Year-on-Year

Mercedes-Benz recently released its third-quarter 2024 results, reporting sales of €34.53 billion (approximately RMB 266.46 billion), a year-on-year decline of 6.7%. The third-quarter EBIT was €2.52 billion (approximately RMB 19.42 billion), down 48% year-on-year, and net profit was €1.72 billion (approximately RMB 13.25 billion), down 54% year-on-year.

Shared Gardens Trend Among Young People

A new farming trend is gaining popularity among young people. In Chenjiang Village, Pinghu, Jiaxing, customers can log into the “Weixiang Metaverse” app to rent 15 square meters of land for 2 yuan a day. The land is maintained by staff, and customers can either harvest in person or have produce delivered. The app has registered 10,000 users, with about 1,100 active consumers.