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- As fuel prices jump , the cost to ship lettuce now tops the lettuce itself for one grocery chain
The latest fuel price spike is harder to bear than earlier this year, as businesses and consumers have less room to absorb it, and inflation is spreading beyond energy. Average diesel hit $6.30 a gallon on Wednesday, up about 68% from before the Iran war, according to AAA. Core CPI rose to 2.6% in September from 2.4% in August, while retail sales excluding gas stations rose just 0.2%. The Fed's Beige Book reported more fuel surcharges, squeezed margins and consumers pulling back on spending. A regional grocery chain said it now pays more to ship a head of lettuce from California than the lettuce itself, as diesel rose 30% from last year.
- Russian oil exports by Arctic route jump amid world freight crisis , data shows
- One Singapore ship was sunk, but here's why others are still transiting the Strait of Hormuz
Two Singapore-flagged container ships, GFS Pride and GFS Giselle, were attacked this week; GFS Pride sank after being struck by a projectile and catching fire, while GFS Giselle was damaged, and both crews were reported safe. Analysts say shipping through the strait is unlikely to stop entirely, as strong demand for Middle Eastern energy and commercial opportunities keep some operators willing to accept higher risks and costs. Kpler data show crossings fell to 131 in the week ended Oct. 14 from 176 the previous week, though the decline cannot be attributed solely to these incidents. Most major container lines have not resumed Hormuz services since the war broke out in February, with only some regional operators running sporadic services on smaller feeder vessels.
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- Tanker carrying 43,000 tonnes of Russian oil sends very good news to US
A tanker carrying nearly 43,000 tonnes of ultra-low sulphur diesel left Russia's Primorsk port on October 22 and has repeatedly signalled New York as its destination, with arrival expected on November 7. If completed, it would be the first Russian refined fuel cargo to reach the US since imports nearly stopped after the Ukraine conflict began in 2022, though the signalled destination could change. The shipment comes about two weeks after Trump and Putin agreed to return Russian diesel to international markets, as Washington seeks more supply before the November 3 midterm elections amid rising fuel prices. The US Treasury granted a special licence allowing Russian diesel into the country until April next year, and Trump said Russia would release over 300,000 tonnes immediately, about 500,000 tonnes in November and 2 million tonnes later. Critics, including some lawmakers, argue the deal could give Moscow extra revenue during the Ukraine war and question whether the released volumes are large enough to significantly lower fuel prices.
- Franklin Templeton adds $150 million in fund shares to XRP Ledger, all in one wallet
Franklin Templeton added about $150 million worth of shares in its tokenized money market fund, sgBENJI, to the XRP Ledger, and all the new shares went to a single wallet. That wallet now holds nearly 193 million shares, up from about 48 million, worth roughly $200 million at the $1.039 share price recorded in the transactions. The wallet and Franklin's issuing account share the same eight signing addresses, and Franklin can approve, freeze or recover the fund's tokens on the network. It is unclear whether the wallet represents one investor or several clients, and as of Saturday morning Asia time Franklin had not responded to CoinDesk's questions. RWA.xyz ranks Franklin second among tokenized asset platforms on the XRP Ledger, behind Ripple's RLUSD stablecoin.
- Vietnam's production plant ranked world's second largest, featuring ultra-modern technology
The Sóc Sơn waste-to-energy plant in Hanoi began construction in August 2019, started receiving waste in May 2022, and was inaugurated in October 2025. With a daily intake capacity of 5,000 tons and power output of 90 MW/hour, it is described as the largest in Vietnam, the world's second largest after the Shenzhen plant in China, and the largest in Southeast Asia. The plant uses Belgian Waterleau mechanical grate incinerator technology, and heat from burning waste produces steam that drives turbines to generate electricity fed into the national grid. Under its environmental permit, the plant must halt relevant discharges if pollution, noise or vibration exceed limits, and must continuously transmit wastewater monitoring data to Hanoi's environmental authority. The article notes Hanoi generates about 7,600 tons of household waste daily and has buried over 30 million tons since 1999.
- Prime Minister Le Minh Hung requests at least a 30% further cut in public investment projects, concentrating capital on key projects with wide-reaching impact
Prime Minister Le Minh Hung said that in this term, the Central Government requires cutting public investment projects by at least 30% further, after the previous term saw about 5,000 projects nationwide, to concentrate resources on projects with broad impact. Investment efficiency should be assessed across the full project lifecycle, covering social benefits and contributions to infrastructure, living standards and social security, with priority for poverty reduction, support for ethnic minority and disadvantaged areas, national defense and security, health, education and culture. The draft amended public investment law proposes dropping the separate investment policy approval step for Group C projects, which made up over 60% of projects in the recent period, and integrating those contents into the investment decision step, while Group A, Group B and nationally important projects would still require that step. The Prime Minister also stressed the leading role of the central budget and that simplifying procedures must go hand in hand with strict control.
- Silver price down nearly 60% from peak
World silver prices fell about 5.4% over the past week and are down roughly 54% from their late-January 2026 peak, while Phú Quý silver prices in Vietnam are down nearly 60% from that peak. World silver traded around 53.8 USD/ounce on the morning of 24/10, while gold hovered near 3,995 USD/ounce after slipping below 4,000 USD/ounce. The sell-off was driven by investor concerns that escalating US-Iran tensions would push crude oil to multi-year highs, and by expectations that the Fed will keep monetary policy tight ahead of its FOMC meeting on 27-28/10 and the PCE inflation report on 29/10. BlackRock's iShares Silver Trust (SLV) bought a net over 14 tonnes of silver on 23/10 and now holds 15.5 thousand tonnes, worth 26.85 billion USD. According to Kitco News, silver also faces pressure from higher energy costs weighing on production demand.
- EVN's 2025 electricity production cost is nearly 2,093 VND per kWh
EVN reported total electricity production and business costs of 601,680 billion VND in 2025, equal to a unit cost of 2,092.7 VND per kWh on commercial output of 287.51 billion kWh, about 5% below the average retail price of 2,204.07 VND per kWh applied since 10/5/2025. Power generation accounted for nearly 83% of costs at 498,363 billion VND, followed by distribution and retail at 78,993 billion VND and transmission at over 22,141 billion VND. The article notes the gap does not directly reflect actual profit per kWh, since the average retail price dates from May while unit cost covers the full year. EVN has cleared its consolidated accumulated losses, though the parent company still carried a loss of about 5,611 billion VND, and in the first eight months revenue exceeded 482,000 billion VND with profit estimated at 12,215 billion VND. Prime Minister Le Minh Hung has directed that electricity prices not be raised in the final months of 2026.
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