The Biden administration has announced US $ 2.9bn in funds for freight projects that will draw from three major grant programmes authorised by the Bipartisan Infrastructure Law signed last year .

The funding opportunity includes US $ 1bn from the National Infrastructure Project Assistance ( MEGA ) programme , US $ 1.55bn from the Infrastructure for Rebuilding America ( INFRA ) programme , and US $ 300mn from the Rural Surface Transportation Grant programme ( RURAL ).

The US Department of Transportation ( DOT ) says combining the programmes into one , multimodal application process will make it easier for state and local applicants to apply for discretionary grants .

“ Under this approach , we have the capacity to greenlight more transformational projects that will grow the economy , as well as make our transportation system safer and more resilient ,” said US Transportation Secretary Pete Buttigieg .

� SHIPPING LINES Global shipping lines made an operating profit of over US $ 110bn in 2021 , according to analysis by Sea- Intelligence - more than the total between 2010 and 2020 .

� SPREADSHEETS Despite the growing pace of digital transformation , a McKinsey report found that , for 73 % of businesses , spreadsheet programmes are their IT system of choice .

� RUSSIAN GAS The US has offered a major expansion of natural gas shipments to European Union countries - with exports due to triple in coming years - so that the EU can be rid of imported Russian gas within five years .

� CHINA ’ S ECONOMY China ' s zero-tolerance approach to COVID-19 meant that just 60 cases was enough to shut down much of Shenzhen - a manufacturing metropolis that ’ s vital for keeping global supply chains moving . The entirety of Shanghai has been hit with a lockdown .

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