Business news from Ukraine

Business news from Ukraine

President of Ukraine Zelenskyy: we stand in solidarity with Israel and condolences

During a phone conversation with Israeli Prime Minister Benjamin Netanyahu, President of Ukraine Volodymyr Zelenskyy discussed the impact of the attack on Israel on the security situation in the region and beyond, and expressed Ukraine’s solidarity with Israel.
“The Prime Minister spoke about the situation in Israel and the actions of the armed forces and law enforcement agencies to repel the attack. We stand in solidarity with Israel, which is suffering from a brazen large-scale attack, and condolences over the numerous victims. Cooperation between the Israeli police and Ukrainian diplomats on the issue of security and protection of Ukrainian citizens in Israel is now important,” Zelensky wrote in a Telegram message on Sunday.
Earlier, Israeli Ambassador to Ukraine Michael Brodsky reported on the phone conversation between Zelensky and Netanyahu.

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Oil prices jump as Hamas attacks Israel

Oil prices jumped on Monday amid an attack by the radical Palestinian group Hamas on Israel.

The escalating situation in the Middle East poses a risk of a reduction in oil supplies from the region, Market Watch notes.

“Historical analysis shows that oil prices tend to rise steadily in the wake of crises in the Middle East,” said Stephen Innes, managing director of SPI Asset Management.

The cost of December futures for Brent crude oil on the London ICE Futures exchange at 8:15 a.m. on Monday is $87.24 per barrel, which is $2.66 (3.14%) higher than at the close of the previous session. On Friday, the price of these contracts increased by $0.51 (0.6%) to $84.58 per barrel.

Futures for WTI for November in electronic trading on the New York Mercantile Exchange (NYMEX) have risen by $2.84 (3.43%) to $85.63 per barrel by this time. As a result of the previous trading, the value of these contracts increased by $0.48 (0.6%) to $82.79 per barrel.

On Saturday, rocket attacks were launched from the Gaza Strip on the southern and central regions of Israel. Dozens of Palestinian militants on trucks and paragliders infiltrated Israel from the Gaza Strip.

According to recent reports, the number of people killed in Israel from attacks by fighters of the radical Palestinian group Hamas has exceeded 600, The Times of Israel reported on Sunday. Among the dead are civilians and dozens of police and military personnel. In addition, 2048 people were injured. Israeli authorities believe that Palestinian militants have taken at least a hundred hostages on Israeli territory and taken them to Gaza.

The Israeli Defense Forces announced the launch of Operation Iron Swords in response to large-scale Hamas attacks. The Israeli authorities officially put the country in a state of war.

The Wall Street Journal reported, citing informed sources, that Hamas’s current actions against Israel were planned in advance with the assistance of Iran.

If Iran’s involvement is confirmed, the United States may tighten control over compliance with sanctions on oil exports from the country, Market Watch notes.

Last week, Brent fell by 8.3% and WTI by 8.8%.

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In many regions of Ukraine, it will get very cold in next two days

On Monday, October 9, light rain is expected at night in the extreme south of Ukraine, moderate rains in Transcarpathia and Prykarpattia during the day (with sleet in the Carpathians); no precipitation in the rest of the country, the Ukrainian Weather Center reports.
Northwest wind, 7-12 m / s, in Ukraine, during the day, except for the western regions, gusts of 15-20 m / s.
The temperature at night will be 1-6° Celsius, on the soil surface (in the Carpathians and in the air) frosts of 0-5°, during the day 6-11° Celsius; in the south at night 3-8° Celsius, during the day 11-16°.
In Kyiv on Monday, no precipitation, northwest wind, 7-12 m / s, gusts of 15-20 m / s.
The temperature will be 4-6° Celsius at night and 8-10° Celsius during the day.
According to the Sreznevsky Central Geophysical Observatory. On October 9, the highest temperature during the day was 29.5° in 1893, and the lowest at night was -2.3° in 1890.
On Tuesday, October 10, Ukraine is mostly without precipitation, with rain and sleet in the Carpathians at night, and light rain in the northeastern regions and Crimea during the day.
Northwest wind with a shift to southwest, 5-10 m/s.
The temperature at night will be 1-6° Celsius, on the soil surface (in the Carpathians and in the air) frosts of 0-5°; during the day 6-11° Celsius.
No precipitation in the capital on October 10. Northwest wind with a shift to southwest, 5-10 m/s. Temperature at night will be 4-6° Celsius; during the day – 8-10°.

Strong earthquakes in Afghanistan killed more than 2,000 people

Strong earthquakes struck western Afghanistan on October 7, leaving at least 2,060 people dead, the Associated Press reports.
“The death toll from the powerful earthquakes that rocked western Afghanistan has risen to more than 2,000, a Taliban government spokesman said on Sunday. “This is one of the deadliest earthquakes to hit the country in two decades,” the official said in a statement on Sunday.
The powerful 6.3 magnitude earthquake was accompanied by strong aftershocks. Approximately six villages were destroyed and hundreds of civilians were buried under the rubble, an Afghan official said.
Initially, several hundred deaths were reported, but now the number has risen to 2,060, according to official figures.
The UN expects the death toll to rise as search and rescue operations continue and there are reports that some people may have been trapped in the rubble.
The earthquake destroyed 465 buildings and damaged another 135.
The epicenter of the earthquake was located about 40 kilometers northwest of the Afghan city of Herat. It was followed by three very strong aftershocks, as well as weaker tremors.

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Commissioning of housing in Ukraine, mln sq m

Commissioning of housing in Ukraine, mln sq m

Source: Open4Business.com.ua and experts.news

UMCC resumes shipments of titanium raw materials from IGOK to European market

PrJSC United Mining and Chemical Company (UMCC), which has taken over management of Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipropetrovs’k region) and Irshansk Mining and Processing Plant (IGOK, Zhytomyr region), has resumed shipments of titanium raw materials (ilmenite) from its Irshansk branch to the European market.

According to the SPF press release, in October, UMCC started shipping ilmenite concentrate from IGOK to the Czech Republic. Under the contract, the company is to supply 30 thousand tons of finished products to the European market by the end of 2023. The customer is a company that produces titanium pigment TiO2, which is widely used in various industries for the production of consumer goods.

At the same time, it is explained that these are the first shipments of ilmenite from the Irshansk branch in 2023. Due to the martial law, destroyed logistics and constant shelling in 2022, the products accumulated in previous periods were stored in the company’s warehouses for almost more than a year, which was an obstacle to the resumption of new ore production.

One of the main tasks set by the State Property Fund for the new management board of UMCC is to establish exports and expand the geography of direct supply contracts. By the end of the year, our company plans to ship about 105 thousand tons of ilmenite concentrate to the European and American markets,” said Yegor Perelygin, First Deputy Chairman of the Board of UMCC, as quoted by the press service.

The United Mining and Chemical Company began its actual operations in August 2014, when the Ukrainian government decided to transfer the property complexes of Vilnohirsk Mining and Metallurgical Plant (VMMC, Dnipropetrovska oblast) and Irshansk Mining and Processing Plant (IGOK, Zhytomyrska oblast) to its management. Previously, these plants were leased to Firtash’s structures. Then the company was transformed into a PJSC and then into a PrJSC.

In August 2016, the government included UMCC in the list of companies to be privatized in 2017. Its deadline was postponed several times, and the tender was disrupted twice.

UMCC used to sell its products to more than 30 countries and was one of the world’s largest producers of titanium raw materials, accounting for 4% of the global market. The company mines titanium ore.

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