The correction on global markets has intensified: gold has fallen sharply after recent record highs, Bitcoin has dropped to around $84,000, and the US stock market is also declining amid a sell-off in the technology sector.
According to Reuters, the spot price of gold fell more than 4% on Thursday as investors took profits after a surge to historic highs, with prices falling to around $5,150 per ounce.
Bitcoin, at current prices, is down about 5% to $85,000, with the day’s low at around $84,350.
In the US, indices also fell into negative territory: the S&P 500 was down about 1.1%, and the Nasdaq fell 2.1%, with pressure on the market coming in particular from a sharp drop in Microsoft shares after its earnings report. The decline is also confirmed by the dynamics of the SPDR S&P 500 ETF (SPY), which lost about 1% on Thursday.
Pokrovsky Mining and Processing Plant (PGZK, formerly Ordzhonikidze Mining and Processing Plant, Dnipropetrovsk region) plans to increase manganese concentrate production by 3.44 times in 2026 compared to the previous year, to 220,000 tons.
According to PGZK’s interim report for the fourth quarter of 2025, in 2025, the plant produced 63,900 tons of manganese concentrate worth UAH 342.138 million and sold 25,400 tons worth UAH 216.309 million.
At the same time, it is specified that PGZK is considering the possibility of selling its products not only to regular customers JSC “ZZF” and JSC “NZF”, but also for export in order to improve the financial condition of the enterprise (Switzerland, Georgia).
It is also noted that from March 2026, the company plans to launch Chkalovsky Quarry No. 2, where rotary complexes No. 9 and No. 2, walking excavators for ore mining will operate, and from April this year, the Northern Quarry, where rotary complex No. 4 and walking excavators for ore extraction will operate.
“The plant plans to produce 220,000 tons of concentrate from ore mined at Chkalovsky No. 2 and Northern quarries. The company is considering the possibility of introducing new technologies for manganese ore mining,” the report says.
It also states that the company is currently idle. Its main customers are JSC NZF and JSC ZFZ. The main sales market is the domestic market. At the same time, the products were sold under direct contracts with the consignee.
In the fourth quarter of 2025, the slowdown in production continued in the mining and metallurgical industry of Ukraine. Due to the pressure of a number of negative factors, in particular the increase in electricity tariffs, logistics costs, and the shortage of qualified personnel due to mobilization, etc., Ukrainian industry is losing its competitiveness both on the domestic and foreign markets, according to the report. It is noted that the unjustified increase in tariffs by state monopolies in the railway transport and electricity markets, and the risk of maritime transport due to the continuation of Russian aggression are affecting the production plans and capabilities of domestic companies, threatening the loss of export and tax revenues from heavy industry and thousands of jobs, mainly in frontline regions.
The average number of full-time employees in the fourth quarter of 2025 was 1,451, with 9 part-time employees, 4 employees working on a part-time basis, and 9 employees working on a part-time basis (day, week). The wage fund in the last quarter of 2025 amounted to UAH 57 million 625.2 thousand.
PGZK and Marganetsky GZK (MGZK, both in Dnipropetrovsk region), which are part of the Privat Group, ceased the extraction and processing of raw manganese ore at the end of October – beginning of November 2023. In 2024, PGZK was unable to resume operations due to a decline in demand for ferroalloys and a shortage of electricity.
In the first half of 2025, PGZK mined and enriched 22.87 thousand tons of manganese ore.
Four Cypriot companies — Profetis Enterprises Limited, Exseed Investmens Limited, Clemente Enterprises Limited, and Alexton Holdings Limited (all based in Cyprus) — each own 24.3024% of the shares of PJSC.
The authorized capital of the private joint-stock company is UAH 736.134 million, and the par value of a share is UAH 0.25.
The Moldovan government has extended temporary protection for displaced persons from Ukraine until March 1, 2027, with the country switching from automatic renewal to renewal upon application from 2026. Online applications must be submitted between February 1 and April 30, 2026, with a processing time of up to 90 days. The authorities also indicate that temporary protection may be revoked if the person is absent from Moldova for more than 45 days in total.
The Experts Club Information and Analytical Center also provides key terms for extension in other jurisdictions.
1) European Union. EU countries have agreed to extend the temporary protection mechanism for Ukrainians until March 4, 2027 (previously until March 4, 2026).
2) Switzerland. The Federal Council has extended the S protection status until at least March 4, 2027.
3) United Kingdom. The Ukraine Permission Extension (UPE) scheme is in effect, allowing individuals with valid Ukrainian migration status in the UK to apply for an additional 18 months of stay; the scheme is open from February 4, 2025.
4) United States. The US Department of Homeland Security has extended TPS status for Ukraine: the current extension period is valid until October 19, 2026 (an 18-month extension, counting from April 20, 2025).
5) Canada. For some Ukrainians and their family members who have applied for family reunification and are awaiting a decision on permanent status, measures have been introduced to support legal residence, including the possibility to apply for documents and permits from within Canada, with a deadline of March 31, 2027.
6) Norway. The authorities have decided to extend the collective protection scheme for another year; according to the UDI, the extension for most holders of such permits will take place automatically after the current term expires.
Experts Club notes that the differences between countries are most often related not to the principle of protection itself, but to administration: some countries apply automatic extension, while others apply extension upon application (as in Moldova from 2026), as well as requirements for actual presence and document renewal.
The Polish government’s Agency for Strategic Reserves (RARS) has sent the first batch of generators announced for Ukraine as part of its assistance in overcoming the consequences of Russian shelling, the Embassy of the Republic of Poland in Kyiv reported on Thursday.
“The first batch of generators sent by RARS is already in Kyiv. Poland’s Chargé d’Affaires in Ukraine, Piotr Lukasiewicz, officially handed them over today to Deputy Prime Minister Oleksiy Kuleba and the head of the Kyiv Regional Administration, Mykola Kalashnik,” the embassy said in a statement on social media.
Deputy Prime Minister for the Restoration of Ukraine – Minister of Community and Territorial Development of Ukraine Oleksiy Kuleba said that 379 generators have already been received and some of them have already been transferred to the Kyiv region.
“We have received energy support from Poland – 379 generators of various capacities. Today, the first batch of equipment was delivered to the Kyiv region. By the end of January, all aid will be distributed among the communities,” he wrote on X.
The Deputy Prime Minister also announced that the Polish government has already decided to purchase an additional ten high-capacity generators.
He explained that the Kyiv region is under constant Russian attack and “knows well what power outages and risks to basic services mean.” “The generators will ensure the stable operation of critical infrastructure – water, heat, and electricity supply,” Kuleba said.
As reported, last week Lukasiewicz announced the arrival in Kyiv of 400 generators of various types from Polish government reserves.
Earlier, it was also reported that as part of a nationwide fundraising campaign for generators for Ukraine called “Warmth from Poland for Kyiv,” more than PLN 5 million (over $1 million) had already been raised. The campaign was organized by the Polish Stand with Ukraine Foundation.
According to Srpski Ekonomist, several top international brands – InterContinental, Swissotel and Ritz-Carlton – are entering the Belgrade hotel market, amid expectations of increased demand in connection with preparations for EXPO 2027 and plans to expand the room stock in the capital.
According to estimates cited by market participants, in 2027, during the EXPO period, Belgrade could receive about 4 million guests in just three months, while Serbia as a whole had about 4 million tourists in 11 months of 2025. In this logic, the acceleration of hotel projects is perceived as an infrastructural necessity, but there is already a question whether the market after the EXPO will be able to sustainably “digest” the growth of supply, especially in the segment of high categories.
InterContinental returns to Serbia in partnership with Delta Holding: IHG reported that InterContinental Belgrade is planned to open by the end of 2026. The project is part of the Delta District mixed-use complex in Belgrade’s business and financial center; 203 rooms are announced, and features include a sky pool, rooftop restaurant and bar, spa and conference infrastructure.
Swissotel is planned in the EXPO zone in Surcin. Euro KB Rent will receive state aid in the amount of EUR 15.986 million, which will be paid in two tranches in 2026 and 2027. The minimum investment for the project is estimated at EUR 79.9 million; the materials also indicate that the hotel will include a congress center and spa/wellness with two swimming pools, and a room stock of 378 rooms.
The Ritz-Carlton in Belgrade is planned as part of the redevelopment of the former Hotel Jugoslavija site on the Danube waterfront. Marriott International reported that the property is envisioned with 193 rooms and more than 1,700 square meters of event space, while the project itself also includes residential and office towers, a conference center, a marina and a promenade area. Millennium Team, associated with the project through Danube Riverside, estimates the total investment in the complex at almost 500 million euros, with the hotel opening announced for 2027.
EXPO-2027 in Belgrade will take place from May 15 to August 15, 2027, with more than 130 countries having already officially confirmed their participation, according to the organizing committee’s data
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Prices for live pigs of slaughtering condition at the end of January 2026 rose by 9.1% to UAH 67.3/kg, according to the Ukrainian Pig Breeders Association (ASU) based on the results of weekly monitoring of purchase prices.
The industry association noted that last Friday’s trading ended with an increase in quotations for live pigs by 2-7 UAH/kg. Most of the commercial batches this week were purchased at 66-68+ UAH/kg, but in all regions of the country, price offers were at the level of 67 UAH/kg. Therefore, the weighted average market price for the current week was 67.3 UAH/kg, which is 9.1% higher than the previous figure.
“Among the reasons for the recovery in prices is a noticeable decrease in pressure from transitional stocks of animals with higher slaughter weight. Excessive batches of live animals that could not be sold during the holidays have already left the market, so the average slaughter weight of animals and, accordingly, the total supply are close to standard,” analysts explained.
They specified that only some of the suppliers are currently sharing their forecasts for future price dynamics, but their expectations are unanimous: they are set on a further recovery in quotations. Operators are not currently seeing a revival in market activity, but in their opinion, this is in line with seasonal sales trends. At the same time, most players continue to work with relatively stable volumes, so trade is mostly proceeding as planned, according to the ASU.
