The Australian market closed higher for the third consecutive session on Friday, 26 March 2021, supported by growing optimism for the US economic outlook following data showing an improving labor environment and momentum with vaccine launches.
At the closing bell, the benchmark S & P / ASX200 index was up 33.67 points, or 0.5%, to 6,824.23. The wider All Ordinaries rose 40.47 points, or 0.58%, to 7,063.09.
Risk appetite has resurfaced around the world on the stakes of economic recovery after US President Joe Biden announced a new goal of administering 200 million coronavirus vaccinations in his first 100 days in office. His new target is to double the 100 million shots in the 100 days that Biden originally promised and achieved before his 60th day in office.
Federal Reserve Chair Jerome Powell acknowledged Thursday that fiscal aid from Congress and accelerated vaccine distribution had allowed the US to recover more quickly than expected.
US Department of Labor data showed claims for unemployment benefits fell to a one-year low last week, a sign that the US economy is on the verge of stronger growth as the public health situation improves and temperatures rise.
Local stocks advanced at the open and held off gains throughout the day.
Telecom led the market higher, up 1.29%. Miners also took the lead, with materials gaining 1.24%. All other sectors rose, except for health care which fell 0.68%.
Miners and explorers for oil and gas rose as Chinese iron ore futures rose on fears of a shortage of supply and oil prices stabilizing after overnight sharp losses. Rio Tinto and Fortescue Metals Group each rose 1.5%. Woodside Petroleum was up 2.4% while Santos was up more than 1%.
CURRENCY NEWS: The Australian dollar is changing hands at $ 0.7622, lower than the level of around $ 0.774 seen earlier in the week.
Presented by Capital Markets – Live News
(This story has not been edited by Business Standards staff and is generated automatically from a syndicated feed.)
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Brazil’s main rail operator is bracing for a busier year as easing global trade tensions and expectations of bumper crops boost demand for transportation at South American agricultural powerhouses.
SA Rumo, the logistics giant which has a 13,500 kilometer (8,400 mile) railway linking Brazil’s agricultural heartland with the country’s largest coastal port, started this year with twice as many contracts to transport agricultural commodities than last year, said Chief Executive Officer Joao. Alberto Abreu. . He sees easing global trade tensions and soaring agricultural prices as signs of a better future.
“We hope 2021 will be a better year,” Abreu said in an interview.
CEO optimism comes as Brazil, the world’s top supplier of soybeans, sugar, coffee and chicken, is benefiting from rising global demand for agricultural goods and food, led by China. Brazilian farmers and producers rely on rail and other modes of transport to bring their crops to foreign markets.
Agricultural trading companies are setting up more transport contracts due to greater stability in global trade as tensions between China and the US ease, Abreu said. Attractive commodity prices that encourage farmers to sell more crops and a recovery in diesel prices, which add to the cost of rivaling truck transport, also contributed to an improved outlook for companies controlled by Brazilian conglomerates. Cosan SA.
Rumo expects to transport at least 15% more agricultural commodities this year, which will probably increase annual operating income by at least 9%, compared with a 4.3% drop last year, according to the company’s March 4 guidance. Increased competition from trucking and other factors cut profit margins more than half last year, despite a 4% increase in transport volumes during Brazil’s record harvest.
Paving of major highways in Brazil’s northern export corridor enhances rail alternatives, with increased competition lowering costs for trading firms to ship soybeans and maize from major grain-producing regions to northern ports. The northern corridor contained 16% more soybeans in 2020 than the previous year, according to data from Abiove, a group that represents the main trading houses.
Brazil has already harvested a record crop of soybeans, most of which will be shipped in the first half of this year. For the second half, when the port line is largely dominated by shipments of maize and sugar, the outlook is for large production of both commodities despite bad weather.
Heavy rain has caused delays to the historic planting of a second maize crop, although Abreu said it was too early to speculate on the impact of the main crop.
“We still have the next few months,” he said. “Farmers have the technology to reduce the impact of procrastination.”
It was 21 June 1970 and more than 100,000 people crammed into the Estadio Azteca in Mexico City for the spectacles of the FIFA World Cup finals between Brazil and Italy. With less than five minutes of normal time left to play, the Brazilians, wearing their yellow shirts in the Mexican sunshine and already three goals for good, produced something extraordinary, the soccer movement for ages.
A total of six Brazilian players participated – dribbling, dodging, dancing – before the ball reached Pelé’s feet, who received it with an indifferent attitude that seemed to brake in time. Stroking the round leather, the Brazilian number 10 made a superb pass with only a half glance at the oncoming Carlos Alberto, whose strike behind the net ended the incredible play, tournament and run of Brazil’s golden generation.
This riveting soccer sequence forms the narrative climax of the eponymous Netflix documentary Skin (released February 23), directed by David Tryhorn and Ben Nicholas, who ask a deceptively simple question: what does Pelé mean to Brazil?
Career in three innings
Skin last played for Brazil in 1971, meaning that most of the people who watched his latest documentary would never have witnessed its magic firsthand.
The Pelé that survives today in the public imagination is Pelé who has been constructed through the careful calibration of football moments, anecdotes, speculation and pure nonsense – complex projects involving journalists, fans, friends and family, the Brazilian government, and, of course, Pelé himself. Consequently, to any reasonable observer, Pelé’s legend is astonishing and apocryphal, colored with both brilliant and bizarre, often present in perfect harmony with one another.
Despite the embellishments brought about by conscious manipulation and unconscious memory, Tryhorn and Nicholas do an adequate job of laying out simple facts from Pelé’s extraordinary football journey, designed for Aristotelian precision.
The first of Pelé’s three acts in football was revealed with his 17-year-old version taking the world by storm in 1958. Scores a series from an almost unbelievable goal to guide his country to their first World Cup triumph, Pelé played a major role in dispelling the “Mongrel mentality” of the previous generation, besides making up for the pain of losing the final at home to Uruguay in 1950, a opportunity is noted by many hyperbolic observers as “Hiroshima in Brazil“.
The next two World Cups, in 1962 and ’66, were the second half, the inevitable insertion of conflict. Having grown from a precocious adolescent who “came from nothing” and used to shine shoes to support his family, Pelé is now a “national treasure… .a symbol of Brazil’s emancipation”. But, on the pitch, the most amazing player on the planet is shackled, injured prematurely at successive World Cups. While Brazil grabbed victory in Chile in 1962, they were eliminated in England four years later – battered, bruised and well beaten by a resurgent Portugal. Pelé declared that his international career was over, and returned to his childhood club at Santos, where his goals continued to rain.
Next, it’s time for the third round – the 1970 World Cup in Mexico, at a time when Brazil ceased to be a bustling developing democracy in the late 50s and early 60s. The right-wing junta which seized power in a bloodless coup in 1964 ran the country with an iron fist, with zero tolerance for leftists or dissidents (often one and the same). The search for Brazil’s third world football title is seen by General Garrastazu Médici’s government as an important symbol of national unity and soft power. Soon, the dictator’s not-so-gentle persuasive techniques were released, practically forcing Pelé to return to action and lead his country to glory again. A bickering with the national team coach (who was later sacked), self-doubt, and a few indifferent performances later, Pelé is back in his element, inspiring a very talented Brazilian set and his own stellar career is becoming a swansong memory.
“I’m not dead,” shouted Pelé in the dressing room, once again becoming world champion.
Pele celebrates with his teammates after winning the 1970 World Cup.Photo: Unknown author – El Gráfico / Wikimedia Commons, Public Domain
Neutral and neutered
Over the decades since retiring, Pelé has continued to remind football followers around the world of his status in the sport, his perfect position in the ranks of the beautiful game. It doesn’t matter how monotone Pelé is a proud declaration (which often involves referring to himself in the third person), there is a bit of debate to be had here.
A more meaningful, and certainly more interesting, discussion around Pelé’s role off the pitch – Pelé as ambassador, icon, embodiment of Brazil. Not content with repeating Pelé’s anodyne answers over the years – enough to rival his goal – Tryhorn and Nicholas investigate their protagonist, using their rare access to expose 80-year-old Pelé in a way he has never done before.
“During the dictatorship, has anything changed for you?” a sharp question arose. “No, football remains the same,” was Pelé’s somewhat surprising answer. An answer that is corroborated by several voices in the documentary on the grounds that Pelé had no choice but to continue his game, regardless of the atrocities suffered by thousands of his compatriots. Pelé himself reluctantly agrees, but without the guilt or grief of missing his chance to become Brazil’s first athlete-activist.
Politics has never been a problem for him, football is, Pelé and the defenders seem to argue, happily unaware that in a country plagued by crisis, Pelé – a symbol of Brazilian life – means as much to football as he does to politics.
Unlike Muhammad Ali – an outspoken proponents of political causes in an imperfect US democracy, or Diego Maradona – the prince of controversy who has hobbled with Fidel Castro and Hugo Chavez all this time defend social justice and condemning American hatred, Pelé is a superstar resident of Brazil, a founding yes-man, whose instinctive neutrality helps him maintain his stature as an enduring sportsman but castrate himself from the prospect of becoming something more.
One of the documentary’s most touching moments comes when Pelé, tied to Zimmer’s frame, pushes himself out to meet his former teammate from Santos for a barbecue. Life-long friends, who referred to Pelé as “King(The King), joked about everything from disguising himself as Pelé during the match to the great male singing voice, which, according to one, didn’t improve one bit.
Away from the scrutiny of goals and political provocations, it is here that Pelé appears to be his most authentic and relaxed. The parts known to millions of people – Pelé as the greatest of all time, Pelé as the opponent of corruption, Pelé as the selfish old man – shrank into the background for a few minutes as the twinkle returned to Pelé’s eyes and he felt like a king again, had fun in his palace.
Often in dissecting celebrities and what makes them special, documentaries forget what makes individuals extraordinary, the ways in which they are celebrated the same as all of us, lesser mortals. Tryhorn and Nicholas do not make this mistake, because their intention throughout the film is not to corroborate or challenge some of Pelé’s deep-rooted narratives, but to explain people who have been hidden, even strayed, behind the political veils and culture of fabricated storytelling.
Pele in December 2013.Photo: Valter Campanato, Agência Brasil / Wikimedia Commons CC BY 3.0
Once this person is exposed, the answer to the documentary’s hot question – what Pelé means to Brazil – becomes clear.
For Brazil, Pelé has always been whatever the country wanted – a young black role model with boyish charm and a Midas touch; unwavering heroes ready to carry the burdens of the nation; a system loyalist, not a personnel, who ruled the country; an extraordinary retreat from the decadence of the twentieth century; and finally, a human artifact capable of telling its own story. Understandably, in such representations, there is little room for Pelé who mismanages his funds and is close to bankruptcy after his playing days or Pelé cheating on his first wife and children he no longer remembers.
Netflix Skin does not overturn the aforementioned representations as much as they humanize them, filling in nuances that might not exist in a typical hagiography. In contrast to Asif Kapadia who was semi-impressionist depiction of Maradona, Tryhorn and Nicholas do not have the subject of someone who generates instant polarization, who creates his own binary without even opening his mouth. Pelé, for good or bad, is not Maradona, but she is attractive in her own way, and the film’s success lies in her ability to free the attractive individual from the layer of intelligence that circumstances have imposed on her since she broke up at the age of 17.
Finally, Skin, the documentary, is a refreshing depiction of one of the sport’s most prominent figures, whose prowess was made even more enchanted by the displacement of Pelé’s glorious myth by a man as noble but vulnerable as Pelé was.
Priyam Marik is a journalism graduate student at the University of Sussex, United Kingdom.
So why the big difference of more than 480 destinations? Now, to finish the roundabout so important to the broader GOAT debate, we dive into the record books to find the answers.
And, as some may already know, it is clear that the 1,238 strikes that Pele claimed were somewhat sneaky in terms of their legitimacy.
There is no denying that Pele has kicked the ball behind the goal more than 1,000 times in any match, but only a little over 60% of that has been scored in competitive matches.
According to Sky Sports, more than 500 of Pele’s goals listed in the Guinness Book of Records were scored in friendly matches and on unofficial tours.
The goals scored for the Sixth Coast Guard in military competitions have been included in the total.
Misconceptions about Pele
Moreover, the well-circulated statistic that Pele once scored eight goals against Botafogo should come with a big caveat that it is not the ‘Botafogo’ football club you now think of.
In contrast, it is the lesser-known Botafogo Ribeirão Preto, who plays in the second tier of the Brazilian soccer pyramid, who nearly conceded three hat-tricks for Pele.
As for the five goals he scored against Nacional? No, it’s not the giants of Uruguay, but of the state of Sao Paolo – and the same can be said of the ‘Juventus’ team he was also five o’clock.
And it’s even easy to get too excited about Pele’s World Cup record with ‘only’ 12 of his goals out of the 1,000 goals that came in a tournament for which he is arguably the best known.
Now, yes, that’s nothing, but he was beaten by Just Fontaine in the 1958 tournament and wasn’t even Brazil’s top scorer en route to victory in 1970.
Is Pele a con man?
So, Pele is an absolute fraud, right? Absolutely not.
While we are interested in outlining some of the issues surrounding Pele’s famous world record, we are not trying to argue that he is one of the greatest footballers ever.
In the end, regardless of the context, scoring over 1,000 goals is something to be commended on and it’s not like he’s counting goals in practice or kickabout like some of the jokes that fans love.
In addition, Pele has acted with true class as Ronaldo and Messi pulled their seats at the table of the gods of football, so it’s only fair that we show the respect he deserves from his extraordinary career.