The American company Amsted Rail intends to open the production of bearings and components for railcars in Lviv. According to the press service of the Lviv Regional Military Administration, this was announced today at a meeting with the head of the LOVA Maxim Kozitsky, Amsted Rail global business director Eric Luhmann.
“We intend to open the production of bearings and components for cars in Lviv. This can be either the construction of a plant or cooperation with a company that is already operating on the market,” the press service of the Lviv Regional Military Administration quoted Luman as saying.
According to Luman, the company is now looking for a territory, a warehouse of one of the factories in the Lviv region, in order to transfer equipment there.
As stated in the press service, Amsted Rail plans to “return to the Ukrainian market part of the railway components, the production of which ceased due to the Russian invasion.”
“The Lviv region is ready to work with international partners – the favorable location of the region will allow everyone who wants to work in the region to cooperate with Europe. I am sure that the cooperation between Amsted Rail and the plant in the Lviv region,” the press service quotes the words of the head of LOV Maxim Kozitsky.
According to the Lviv OVA, Amsted Rail has been operating in Ukraine since 2004 and manufactures products related to the road industry.
A new video has been released on the YouTube channel of the Club of Experts, dedicated to the announcement of events that will take place in Ukraine and the world from September 26 to October 2. The founder of the Club of Experts Maksim Urakin and co-host Olga Levkun analyzed the main events planned for the coming days.
So, next week Ukraine will host several major conferences dedicated to economic recovery, development of agriculture and water resources, educational projects, etc.
Among world events, a number of conferences in the field of economics can also be distinguished. In particular, the Asia-Pacific Petroleum Conference (APPEC 2022), the meeting of G-20 agriculture ministers, the global manufacturing and industrialization summit in Pittsburgh, USA GMIS-2022). Also, a number of Western countries, in particular the UK, introduce significant tax incentives for businesses in order to prevent an economic recession.
Among the sporting events, one can single out the next round of the UEFA Nations League, where the most interesting matches will be the confrontation between England and Germany, as well as the return match between Ukraine and Scotland. Read more about future sporting events on the Sport.ua portal. The full version of the video can be viewed at the following link:
You can subscribe to the Expert Club channel here:
https://www.youtube.com/channel/UC4plQ0XBaoLOKPIXrb1aMGQ
ANNOUNCEMENTS, EVENTS, EXPERT_CLUB, URAKIN, ЛЕВКУН, МАКСИМ_УРАКИН
Quotes of futures for US stock indices are actively rising on Tuesday after the collapse of the indices over the previous few sessions.
“We are seeing some recovery in risk appetite on Tuesday after a very weak start to the week,” Citigroup strategists wrote.
The day before, the Dow Jones Industrial Average ended trading in the bearish trend zone (that is, it fell by 20% or more from the last peak) for the first time since the beginning of the coronavirus pandemic, and the Standard & Poor’s 500 updated its low since December 2020 on fears of consequences for the global economy from high inflation and rising interest rates.
“Increased volatility in the currency markets has exacerbated an already difficult situation in most asset classes,” said Richard Hunter of Interactive Investors.
At the same time, the leadership of the Fed is still making “hawkish” statements, not allowing the markets to hope for a slowdown in the rate hike.
In particular, the head of the Federal Reserve Bank of Cleveland, Loretta Mester, said that “we need the rate to be raised higher and remain high for longer than we previously thought.” “We can’t avoid the pain. It’s a very painful situation,” added Mester, who is a voting member of the Federal Open Market Committee (FOMC) this year.
Shares in Hertz Global Holdings surged 3% in US pre-trading on Tuesday on news that the car rental service has signed a memorandum with British energy company BP to develop a network of electric vehicle charging stations in North America.
The price of shares of memory chip maker Micron Technology is growing by 1.9%, despite the fact that analysts from several investment companies at once worsened forecast quotes for the company’s shares.
Capitalization of software developer Splunk Inc. increased by 2%. The company announced last night that CFO Jason Childe plans to step down in early November.
The value of the December E-mini futures on the Dow Jones index by 15:34 quarter rose by 1.11% and amounted to 29669 points. Quotation of the December E-mini futures on the S&P 500 rose by this time by 1.39%, to 3721 points. Futures on the Nasdaq 100 index for December added 1.63% and reached 11,501 points.
Oil prices picked up a steady pace of growth on Tuesday afternoon on concern due to reduced supply on the market.
The price of November futures for Brent crude on the London ICE Futures exchange by 14:35 Moscow time on Tuesday is $85.11 per barrel, which is $1.05 (1.25%) higher than the price at the close of the previous session.
The price of futures for WTI oil for November in electronic trading on the New York Mercantile Exchange (NYMEX) rose by this time by $0.91 (1.19%), to $77.62 per barrel.
Traders are monitoring the situation in the Gulf of Mexico in connection with the growing strength of Hurricane Yan. The US National Hurricane Center expects Yan to reach Florida by the middle of this week.
Chevron Corp. announced the suspension of two production platforms in the Gulf of Mexico due to the hurricane. The total volume of oil production from these two platforms is about 120,000 barrels per day.
British BP also intends to close two platforms in the region, each of which produces more than 100 thousand barrels per day.
In addition, the market takes into account that the OPEC + countries may cut oil production levels in order to spur price increases. Representatives of the association have repeatedly stated this before.
“I think OPEC will have to do this at some point in order to cut supply and push prices up,” said Gary Ross, head of Black Gold Investors.
In order to keep prices at $90 per barrel, OPEC will need to cut production by 1 million b/d, according to Ross’s calculations. In the meantime, OPEC + can cut production by at least 500 thousand b / d, according to UBS.
Meanwhile, the supply of petroleum products may be limited in France. The TotalEnergies refinery in Feisen will remain closed until at least mid-October, French trade union CGT said. The plant, which produces up to 40% of oil products in France, has been closed since September 16 due to technical problems.
In addition, two other TotalEnergies refineries in Fos-sur-Mer and Port-Jerome-Gravenchon have been closed since last week due to a workers’ strike.
US-based Development Finance Corporation (DFC, formerly OPIC), an agency of the US federal government, has announced its readiness to lend to Ukrainian businesses within individual projects in amounts ranging from $1 million to $1 billion each, Deputy Economy Minister of Ukraine Oleksandr Hryban said.
“The DFC agency is ready to lend to projects in Ukraine for amounts from $1 million to $1 billion. For the sake of Ukraine, they made an exception and are ready to issue loans even if an American investor is not represented in Ukrainian business,” he said.
At the same time, this information is not yet available on the DFC website. The press release of the corporation says that its head Scott Nathan within the framework of the 77th UN General Assembly last week joined a meeting chaired by President of Poland Andrzej Duda and with the participation of Prime Minister of Ukraine Denys Shmyhal. At the meeting, representatives of Polish and Ukrainian business circles discussed efforts to restore the Ukrainian economy in light of the devastation caused by Russia’s unprovoked war.
According to Hryban, DFC is ready to support Ukraine with several different financial instruments, in particular, to provide coverage for credit risks, including political and war ones.
In addition, the official added that DFC is ready to issue free financial grants to those companies that are recognized as promising, but which have not yet passed an international financial audit.
The New Zealand government has expanded sanctions against key Russians amid Russia’s full-scale aggression against Ukraine, the Australian Associated Press reports.
On Tuesday, New Zealand’s Foreign Minister Nanaia Mahuta announced that 19 new “members of Putin’s inner circle” would be subject to financial and travel sanctions as part of coordinated global action.
“Ukraine has been clear that the most important action we can take to help them are our ongoing sanctions and supporting them through the conflict, as we continue to do,” she said.
At the moment, the sanctions apply to about 1,000 people.
In turn, New Zealand Defense Minister Peeni Henare noted that there is no opportunity to provide military assistance yet, since Ukraine’s requests do not coincide with the resources that are available. At the same time, Henare stressed that New Zealand is ready to provide additional assistance if Ukraine’s needs match its reserves.
