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On September 4th, it was reported that Zhipus launch of its official flagship store on Tmall has sparked widespread discussion. Data shows that within 48 hours of opening, brand searches for Zhipu surged 50 times compared to the previous period, driving a more than 160% increase in sales of subscription products such as AI tokens on Taobao and Tmall. Previously, Tmall launched the AI Space Station (Token Recharge Center), initially connecting major model manufacturers such as Alibaba Cloud, Zhipu, Kimi, MiniMax, and DeepSeek, allowing users to directly purchase related subscription services like "topping up phone credit."The National Bank of Kazakhstan lowered its policy rate to 16.25%, down from 16.75%. The central bank stated that there is limited room for further rate cuts.At midday closing, most domestic futures contracts rose, with ferrosilicon hitting its daily limit up, polyvinyl chloride (PVC) rising nearly 5%, liquefied petroleum gas (LPG) and palladium rising over 3%, soda ash rising nearly 3%, caustic soda rising over 2%, and alumina and Shanghai silver rising nearly 2%. On the downside, lithium carbonate fell over 7%, low-sulfur fuel oil (LU) fell over 2%, paraxylene and PTA fell over 1%, and SC crude oil fell nearly 1%.September 4th - The Cuban government announced a series of new policies on September 3rd to further reduce restrictions on foreign investment, foreign trade, and tourism, expanding the operating space for foreign-invested enterprises, joint ventures, and private companies. The new policies announced by the Cuban government include: removing the requirement for foreign-invested and joint-venture companies to hire Cuban employees through intermediary agencies authorized by the Cuban Ministry of Labor and Social Security, allowing direct employment; removing the requirement for joint ventures and domestic investors participating in international economic cooperation to obtain prior approval from the Central Bank of Cuba to open bank accounts abroad, replacing it with subsequent reporting to the Central Bank; updating import and export procedures to allow private companies to directly engage in foreign trade; relaxing restrictions on foreign capital participation in wholesale and retail trade, as well as investment in key areas and historical and cultural heritage sites; introducing tax incentives for ecotourism projects; and allowing foreign companies, foreign-invested enterprises, and non-state-owned entities to participate in tourism transportation and travel agency businesses.September 4th - According to the Financial Times, officials appointed by the Trump administration, campaign donors, and recently departed government officials are all seeking to profit from U.S. control over Venezuelas struggling energy sector. Companies closely associated with the Trump administration are reportedly actively pursuing deals to secure development opportunities in Venezuelan oil resources. Two sources familiar with the matter revealed that Houston-based oil producer Sable Offshore is in advanced talks with the Venezuelan government and is expected to sign an oil field development contract. Several other companies are reportedly in similar high-level negotiation stages. Brittany Kelm, Sables vice president of policy and business affairs, was still serving in the Trump administration until last month. Energy company Primavera also signed an oil field development agreement on Wednesday; one of its founders, Fred Ehrsam, donated $1 million to Trumps 2025 inauguration fund.

Ukraine Will Block A Crucial Russian Gas Transit to Europe, Blaming Russia

Charlie Brooks

May 11, 2022 09:46

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Ukraine said on Tuesday that it will cease the flow of gas via a transit point that, according to Kiev, sends over one-third of the fuel piped from Russia to Europe through Ukraine. Kiev blamed Moscow for the action and said it would redirect the flows elsewhere.


Even after Moscow's invasion, Ukraine has remained a significant transit route for Russian gas to Europe.


The operator of Ukraine's gas infrastructure, GTSOU, has declared "force majeure" and will cease shipments through the Sokhranivka route as of Wednesday. "Force majeure" is a provision triggered when a firm is affected by circumstances beyond its control.


However, Gazprom (MCX:GAZP), which has a monopoly on Russian gas pipeline exports, said that it was "technologically impossible" to move all volumes to the Sudzha connecting point farther to the west, as GTSOU requested.


GTSOU CEO Sergiy Makogon told Reuters that Russian occupation troops have begun transporting gas flowing through Ukraine to two rebel territories supported by Russia in the country's east. He failed to provide proof.


The company stated that it was unable to operate at the Novopskov gas compressor station due to "the interference of the occupying forces in technical processes," adding that it could temporarily redirect the affected flow to the Sudzha physical interconnection point, which is located on Ukrainian territory.


Ukraine's suspension of Russian natural gas shipments via the Sokhranivka route should have no effect on the local Ukrainian market, according to Yuriy Vitrenko, the president of the state-owned energy business Naftogaz.


The national gas company of Moldova, a tiny country on Ukraine's western border, said that neither GTSOU nor Gazprom had notified them of a supply interruption.


Russian army and separatist militants have controlled the Novopskov compressor station in the Luhansk area of eastern Ukraine since shortly after Moscow launched a "special military operation" in February.


GTSOU said that it is the first compressor in the Ukraine gas transit system in the Luhansk area, the transit route for about 32,6 million cubic metres of gas per day, or a third of the Russian gas transported to Europe through Ukraine.


To fulfill its "transit responsibilities to European partners in full," GTSOU said that it will "temporarily move unavailable capacity" to the Sudzha interconnection point.


Gazprom said it had received information from Ukraine that the nation will cease gas transit to Europe through the Sokhranivka interconnector at 7:00 a.m. on Wednesday local time.


The Russian corporation said that it observed no evidence of force majeure or impediments to business as usual. Gazprom emphasized that it was fulfilling its commitments to European gas purchasers.


As punishment for the invasion of Ukraine, the United States has pushed other nations to reduce their reliance on Russian energy and has prohibited Russian oil and other energy imports.


Ned Price, a spokeswoman for the U.S. State Department, said that Tuesday's declaration does not alter the "as soon as feasible" schedule for reducing global dependency on Russian oil.

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