Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Sam Altman Reaffirms OpenAI’s Long-Term Commitment to NVIDIA Amid Chip Report 
SpaceX Seeks FCC Approval for Massive Solar-Powered Satellite Network to Support AI Data Centers 
Using the Economic Calendar to Reduce Surprise Driven Losses in Forex 
Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
Trump Extends AGOA Trade Program for Africa Through 2026, Supporting Jobs and U.S.-Africa Trade 
Trump Announces U.S.–India Trade Deal Cutting Tariffs, Boosting Markets and Energy Ties 
Jensen Huang Urges Taiwan Suppliers to Boost AI Chip Production Amid Surging Demand 
Gold Prices Rebound Near Key Levels as U.S.-Iran Tensions Boost Safe-Haven Demand 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Tesla Launches New Model Y Variant in the US Starting at $41,990 
Dollar Steady as Fed Nomination and Japanese Election Shape Currency Markets 
Japan Finance Minister Defends PM Takaichi’s Remarks on Weak Yen Benefits 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Panama Supreme Court Voids Hong Kong Firm’s Panama Canal Port Contracts Over Constitutional Violations 
NRW Holdings Shares Surge After Securing Major Rio Tinto Contract and New Project Wins 
Nestlé is investing 40 million Swiss francs or $42.88 million in opening a new production plant in the western part of Ukraine. The Nescafe coffee maker revealed this plan earlier this week.
With this move, Nestlé has become one of the few major global companies to invest in the war-torn country. It can be recalled that Russia attacked Ukraine in February with the intention of invasion, and the fighting is still going on up to now.
According to Reuters, the invasion crashed Ukraine’s economy and based on estimates and predictions of the International Monetary Fund predicted, it will further drop by 35% this year.
This is because the country is even gripped by power blackouts for weeks and this has spread throughout the country. It happened as the Russian forces continued to step up their attacks on Ukrainian power facilities.
Although the Swiss food manufacturer already employs around 5,800 employees in Ukraine, it announced its plans to hire an additional 1,500 staff for its new production facility, which will be launched in Smolyhiv in the Volyn territory.
This new production facility is opening with the aim of helping bolster the company’s production of seasonings, sauces, soup, and instant food. This will be supplied to the local as well as European markets.
"This is an important move for Nestlé, taken in a very challenging time for the country," the publication quoted Nestle’s south eastern Europe market’s chief executive officer, Alessandro Zanelli, as saying in a statement. "We aim to create a food and culinary hub, ensuring incremental jobs and serving the needs of Ukrainians and all European citizens with high-quality products."
Deccan Herald reported that before the war broke out in Ukraine, Nestlé has already been operating three plants there. Aside from increasing the brand’s capacity for noodles culinary production in the country, the other goal for the investment in a new plant is to help support the recovery and growth of Ukraine’s economy.
"I am proud to confirm our commitment to invest in Ukraine," CEO Zanelli added. "This is an important move for Nestle, taken in a very challenging time for the country."
