Russia Unleashed A Wave Of Drone And Missile Attacks On Ukraine Overnight, SHEIN Is Expected To Raise Around $2 Billion In A New Round
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The war in Ukraine is not coming to an end, and the recent acts of Russia show that the situation may escalate even more. Despite the lack of peace in the markets, companies continue to expand. Chinese retailer SHEIN has ambitious plans for this year.
In this article:
- War in Ukraine
- The flotation
- Insights on the world economy and markets
War in Ukraine
Kiev and other major cities in Ukraine, including Lviv, Kharkiv and Odessa, were hit by a wave of Russian drone strikes and missile attacks overnight, Ukrainian officials said.
The mayor of Kiev, Vitali Klitschko, said that there were a series of explosions in the capital that damaged the energy infrastructure and injured several civilians. The air alert lasted for almost seven hours in the capital.
Officials at the southern port of Odessa, Lviv in western Ukraine and Kharkiv in northeastern Ukraine also reported nighttime drone and missile attacks.
As a result of the missile attack on Ukraine, the power supply to the Zaporozhye nuclear power plant was interrupted.
The Zaporozhye nuclear power plant, the largest of its kind in Europe, has repeatedly been at the center of conflict between Russian and Ukrainian forces, which accuse each other of shelling and threatening the operation and safety of the facility, and the risk of a potential catastrophic nuclear accident. International observers called for a demilitarized zone around the plant.
'The enemy is raging': Russia unleashes wave of drone and missile strikes on Kyiv and other cities https://t.co/4U3opXhcFh
— CNBC (@CNBC) March 9, 2023
The flotation
Chinese online apparel retailer SHEIN is expected to raise around $2 billion in a new round of funding this month and aims to go public in the US in the second half of this year.
The UAE's sovereign wealth fund Mubadala is the lead investor in this round.
Last month, the company held preliminary talks with several investment banks to select major bookrunners for its US IPO, with Tiger Global Management as the new investor.
The flotation, if successful, would be one of the biggest worldwide this year.
SHEIN is aiming for a U.S. listing and the flotation, if successful, would be one of the biggest worldwide this year and a test of U.S. investor appetite for Chinese companies amid volatile capital markets and geopolitical tensions https://t.co/A4W0RC864O pic.twitter.com/R1JpfFARyM
— Reuters Business (@ReutersBiz) March 9, 2023
Insights on the world economy and markets
Late last year, OPEC announced a production cut of 2 million barrels a day in response to slowing global growth and increased risk of recession among developed countries. However, increased demand from China following the lifting of COVID-19 restrictions, coupled with a slight increase in non-OPEC production this year, is likely to prompt OPEC to reverse.
According to a new report by Goldman Sachs Research, oil prices could rise as high as $107 a barrel by the end of the year from around $84 today, depending on how OPEC responds to emerging market conditions.
What's more, the problem of inflation and thus porcelain alloys is still on top.
Stronger economic data has recently raised concerns that inflation is likely to remain stickier than expected.
Goldman Sach also looks at how retailers cope with slowing consumer demand, high interest rates and rising prices.
Which global macro risk are investors most worried about for 2023? Over 40% of attendees polled at our Global Macro Conference said ‘US-China tensions’, followed by 26% saying ‘inflation’. Explore our research insights by topic: https://t.co/Yfvww77V8h pic.twitter.com/EeH1hvfGJP
— Goldman Sachs (@GoldmanSachs) March 9, 2023
