West Coast Labor Negotiations “Far Apart” – This week the Pacific Maritime Association (PMA) released a statement dismissing rumors that negotiations with the International Longshore & Warehouse Union were in their final stages. Instead, the PMA said that they “remain far apart on several issues.”
Read more from the PMA.
Economic Crisis in Russia – The value of the ruble has dropped nearly 40% against the dollar in the past three weeks. The country’s central bank has spent over $80 billion in attempts to prop up the currency this year but the crisis shows no signs of slowing. California based Apple stopped online sales of its popular tech products in Russia this week due to the extreme currency fluctuations.
Read more from Reuters
Manila Port Congestion Easing – Port congestion in Manila appears to be easing after months of severe backlog problems. Terminals operates said that congestion levels dropped significantly over the weekend. Sixteen vessels still await docking which is down from a high of thirty earlier this month.
Read more from GMA News