The Textile-Contact group of companies will open the country’s first industrial park for the production of non-narcotic technical hemp in the Rivne region, where a full cycle of research, selection, cultivation and processing of this plant will be launched.
As reported on the Facebook page of the Rivne Regional Military Administration (OVA), the fabric made from hemp will be used, in particular, as a material for sewing military uniforms that are invisible to the radiation of thermal imagers. In addition, industrial hemp is a good antiseptic; heating pellets and food products are produced from it.
“Back in April, I met with the owners of the company Alexander Sokolovsky and project manager Alexei Bolshev. This is the largest company in Ukraine engaged in the production of fabrics and clothing. Then they discussed the possibility of opening their production in the Rivne region. Now we have reached the finish line,” the Regional State Administration quotes its head Vitaliy Koval.
According to him, the creation of an industrial park will not be limited to investments in the region and the creation of jobs, but will launch a new industry in the country.
“We have already signed a memorandum on the relocation of the fabric production line. We have received the terms of reference for the land plot. We are working on finding options. I urge the communities to submit their proposals to the Department of Economics of the ROVA,” Koval summed up.
Textile-Contact is one of the largest trade and production groups in the light industry market of Ukraine, founded in 1995. Currently, it represents a holding uniting various areas of assets: wholesale and retail trade, import of fabrics, accessories and home textiles, production of fabrics, threads, dry cleaning, as well as tailoring and overalls (including military uniforms), medical products.
Before the Russian invasion, the factory produced about 400 thousand meters of fabric per month.
Stock indices of Western European countries are steadily rising during trading on Friday, following Wall Street and Asian stock markets.
The composite index of the largest companies in the Stoxx Europe 600 region increased by 1.41% by 11:28 Moscow time and amounted to 419.92 points.
The German DAX rose 1.59%, the French CAC 40 rose 1.5%, and the British FTSE 100 rose 1.41%. The Italian FTSE MIB and the Spanish IBEX 35 gained 1.88% and 1.65% respectively.
Investors continue to evaluate the results of the meeting of the European Central Bank (ECB).
The ECB raised the base rate on loans to 1.25% per annum, the rate on deposits – up to 0.75%, the rate on margin loans – up to 1.5%. He also announced his intention to continue raising rates in the next few meetings.
ECB President Christine Lagarde said during a press conference following the meeting that further rate increases will be determined by incoming statistical data.
The ECB raised its forecast for consumer price growth this year to 8.1%, next year to 5.5%, and in 2024 to 2.3%. In June, the bank’s analysts estimated these figures at 6.8%, 3.5% and 2.1%, respectively.
According to the new forecast, the GDP of the Eurozone in 2022 will increase by 3.1% against the previously estimated 2.8%. However, expectations for the coming year are worsened to 0.9% from 2.1%, for 2024 – to 1.9% from 2.3%.
Meanwhile, the energy crisis remains a reason for investors’ fears. Market participants are worried about the consequences of the crisis on the eurozone economy, writes Trading Economics.
Statistics released on Friday showed that industrial production in France fell in July for the first time since April, indicating that companies are cutting production amid slowing demand and high price pressures.
The indicator decreased by 1.6% in monthly terms after rising by 1.2% in June. Economists polled by The Wall Street Journal had expected a 0.5% decline in industrial production.
Among the growth leaders among the components of the Stoxx Europe 600 indicator are shares of the German energy company Uniper SE, which are rising in price by 10.5%.
Shares of London Security PLC are down 4.8%. The British fire protection company cut its pre-tax profit in the first half of the year amid rising costs due to inflationary pressures.
ASOS PLC added 1.6%. The British retailer is forecasting FY22 revenue and earnings in line with analysts’ expectations, but said August sales were weaker than expected.
The EU decision to suspend the facilitated visa agreement with Russia has taken effect and will be applied from September 12, the Official Journal of the European Union said.
“The application of the Agreement between the European Community and the Russian Federation on the facilitation of the issuance of visas to the citizens of the European Union and the Russian Federation is suspended in whole as regards citizens of the Russian Federation, as from 12 September 2022,” it said.
The document noted that the decision would take effect on the day of adoption, i.e. Friday. However, it will be applied from Monday, considering that the EU must notify the other party to the agreement, Russia, within 48 hours since the decision is approved.
The State Property Fund of Ukraine (SPF) wants to be transformed into the Sovereign Fund, a state asset management fund, Rustem Umerov, who has been appointed its head this week, said.
“We will perform the functions of selling through privatization, through leasing. But we are also considering expanding the mandate in order to create the State Asset Management Agency, so that we can see that strategic assets will be in the fund, will be managed by it,” he said.
According to Umerov, privatization will continue and the fund would like to become “a good contributor of the government in terms of income.”
Leleka Medical Center (Pushcha-Voditsa, Kyiv region) has resumed the work of the maternity hospital, which was suspended due to the military aggression of the Russian Federation, and opened a wide-profile surgical department for adults.
According to a press release from the medical center, the maternity hospital resumed work from September 1, 2022. The clinic, as before, will provide medical assistance in childbirth and pregnancy management, as well as services for the treatment of gynecological problems.
In addition, a full-fledged modern surgery center has been launched on the basis of the maternity hospital, where surgical treatment of a wide range of diseases for adults is carried out.
The company plans to transform into a multidisciplinary clinic.
Among the main directions of the Leleka Surgical Center are operative gynecology and endoscopy, mammology, vascular surgery (phlebology), abdominal (laparoscopic), bariatric, endocrine and outpatient surgery, proctological and urological operations. In addition, the direction of plastic surgery will develop.
“As a result of a full-scale war, we can already talk about a significant decrease in the number of new pregnancies and births both in Ukraine in general and in Kyiv in particular. Leleka in Pushcha-Voditsa is a large, spacious, innovative and modern facility that needs to be used to its full capacity. Therefore, we decided to launch new medical areas and transform from a women-only clinic into a multidisciplinary medical center,” Valery Zukin, General Director of the Leleka Medical Center, is quoted in a press release.
The medical center also said that in honor of the launch of the new direction, Leleka conducts free operations for the military personnel of the Armed Forces of Ukraine and their families, as well as residents of the settlements of the Kyiv region affected by the Russian aggression – Gorenka, Bucha, Irpin and Moshchun. The list of free services includes, in particular, surgery for cholelithiasis, laparoscopic and open surgery for hernia, surgery for diaphragmatic hernia, as well as surgery for varicose veins.
As reported, the Leleka Medical Center received a certificate from the most prestigious international accreditation system for medical institutions JCI.
Leleka LLC was established in 2014.
The stock indexes of the largest countries in the Asia-Pacific region (APR) are rising in trading on Friday, following the dynamics of the US stock market.
Investors, among other things, analyze statistical data from China and evaluate the statements of the head of the US Federal Reserve System (FRS) Jerome Powell.
The Fed is fully focused on bringing inflation down in the US, Powell said at an online event for the Cato Institute on Thursday.
Powell basically repeated statements he made at a recent symposium at Jackson Hole. He noted that he had decided to be as “short and precise” as possible during the symposium in order to emphasize the Fed’s absolute commitment to returning inflation to the 2% target, The Wall Street Journal writes.
Meanwhile, the European Central Bank (ECB) raised all three key interest rates by 75 bps. following Thursday’s meeting. The base interest rate on loans was raised to 1.25%, the rate on deposits – up to 0.75%, the rate on margin loans – up to 1.5%. The regulator announced its intention to continue raising rates at the next few meetings.
Exchanges in South Korea are closed (autumn holiday Chuseok – full moon day).
The Japanese Nikkei 225 rose by 0.6% by 08:14 Moscow time.
The growth leaders among the components of the index are the shares of the transport company Nippon Yusen K.K. (+3.6%), providing online medical services M3 Inc. (+3.3%) and non-ferrous metals producer Dowa Holdings Co. Ltd. (+2.8%).
Asia’s largest clothing retailer Fast Retailing is up 0.6%, while automotive Nissan Motor Co. – decrease by 0.9%.
China’s Shanghai Composite added 0.6% by 08:16 GMT, while Hong Kong’s Hang Seng edged up 2.4%.
Inflation in China unexpectedly slowed down in August, which indicates weakening domestic demand in the face of quarantine restrictions. Consumer prices (CPI) rose 2.5% year-on-year last month after rising 2.7% in July, the National Bureau of Statistics (GSO) of the People’s Republic of China said.
Analysts on average had expected growth to accelerate to 2.8%, according to Trading Economics.
Producer prices (PPI index) in China last month increased by 2.3% in annual terms – the lowest rate in 18 months. Analysts’ consensus forecast was for a slowdown in August to 3.1% from 4.2% in July.
The growth leaders in Hong Kong are shares of real estate developers Country Garden Holdings Co. Ltd. (+15%), Country Garden Services Holdings Co. Ltd. (+9.5%) and Longfor Group Holdings Ltd. (+6.1%).
The Australian indicator S&P/ASX 200 has gained 0.6% since the market opened.
The market value of the world’s largest mining companies BHP and Rio Tinto increased by 2.5% and 2.2%, respectively.
