The main shareholder of PrJSC Ukraina Department Store, the manager of the shopping and entertainment center of the same name located at 3, Peremohy Square in Kyiv, Sweden’s Quinn Holdings Sweden AB, seeks to conduct a squeeze-out among minority shareholders of the company.
PrJSC Ukraina Department Store reported in the information disclosure system of the National Securities and Stock Market Commission of Ukraine, the company received the irrevocable proposal on July 27.
According to the report, Quinn Holdings Sweden AB, together with affiliated persons, owns 122.985 million common registered shares of the PrJSC, which is 98.372% of the total number of its shares. The ultimate beneficiary is the Irish state bank IBRC.
As reported, in connection with the bankruptcy of the owner of the Quinn group, control over its foreign assets, including Ukraina Department Store, passed to the managers appointed at the request of the Irish bank IBRC.
National bank of Ukraine’s official rates as of 03/08/20
Source: National Bank of Ukraine
Official rates of banking metals from national bank as of August 03
One troy ounce=31.10 grams
The current account of the balance of payments in April-June posted a record-hitting surplus of $4.3 billion, according to the inflation report of the National Bank of Ukraine (NBU), posted on its website last week. “In H1 2020, exports showed greater resilience to the effects of the crisis than imports, among other things due to relatively more stable external demand for foods. In contrast, imports of goods and services plunged as domestic demand narrowed, energy prices fell further, and tourism halted,” the NBU said.
According to NBU estimates, the consolidated balance of payments of Ukraine in the second quarter showed a deficit of $100 million, while in the April forecast the regulator expected a surplus at the level of $200 million.
According to the report, the export of goods and services in the second quarter decreased by 12.1% compared to the same period last year (year-over-year), to $13.2 billion, including due to weakening global economic activity, depletion of stocks of certain grains and low global prices for metals and corn.
In general, the export of food products in the second quarter of 2020 decreased due to the rapid depletion of corn and soybeans, high competition in the grain market and a decrease in demand from biofuel producers, as well as, despite an increase in the supply of fertilizers and plastics, exports of chemical products decreased amid deteriorating external pricing environment.
In addition, the decline in exports of metallurgical products plunged due to a further contraction of external demand and a decrease in global prices and exports of engineering products, including due to a decrease in external orders for the supply of railway cars.
According to the document, by the end of April-June 2020, imports of goods and services fell sharply (by 27.7% year-over-year) due to a significant narrowing of domestic demand and the closure of borders, to $12.3 billion. In particular, imports of products engineering decreased significantly, and the decline in imports of components for alternative energy has increased due to uncertainty regarding the legal framework for this type of activity.
Imports of industrial products also decreased amid weakening consumer demand, while imports of food products continued to grow. In addition, imports of chemical products decreased as a result of an increase in domestic production of fertilizers, which was lower than the volume of purchases of household chemicals, as well as amid lower prices for energy. According to the NBU, the decline in energy imports has also deepened due to the decline in prices (by almost 50% year-over-year).
Despite the expected decline in the volume of transfers, their fall was less than forecast (up to 60% year-over-year) – it was 15.3%. “This was facilitated by the active return of Ukrainian workers to work abroad and a more stable demand for labor migrants in recipient countries (in particular Poland),” the NBU said.
According to the forecasts of the central bank, the current account of the balance of payments in Q3 2020 will be with a surplus of $400 million, in Q4 – with a deficit of $600 million, and by the end of the year the surplus will amount to $6.5 billion.
According to NBU estimates, the consolidated balance of payments of Ukraine at the end of Q3 will be reduced to zero, at the end of Q4, the surplus will amount to $400 million, and in 2020 – $1.5 billion.
The distribution chain UkrAgro NPK and Nika-Tera sea terminal (Mykolaiv), both are parts of Group DF, have jointly opened the first agricultural supermarket – a wholesale and retail warehouse store of agricultural products in the territory of the port.
Group DF said in a press release on Friday, July 31, that the outlet is fully equipped for reception, storage, packing and shipment of goods. Its targeted audience includes customers of the port and farmers from Mykolaiv and Odesa regions.
“At the beginning, the assortment of products includes various types of nitrogenous and mixed fertilizers that fit various types of package. We plan to gradually extend the assortment by seeds, plant protection agents, and other chemicals. In future we will sell other goods and services that are necessary for farmers, agricultural producers, traders,” Director General of UkrAgro NPK Volodymyr Dovbnia said.
The new outlet de jure is an official representative office of PJSC UkrAgro NPK.
UkrAgro NPK is a large chain of warehouses selling mineral fertilizers in Ukraine. It has been a part of Group DF since 2012.
Austria has canceled the ban on landing aircraft from Ukraine since August 1, but the general regime of entry for Ukrainian citizens into this country remains unchanged – entry for tourism purposes will remain banned, Ukrainian Ambassador to Vienna Oleksandr Scherba has said.
“I have two news – good and bad. The good news is that starting from August 1, Austria will lift the ban on landing aircraft from “at-risk countries,” including Ukraine. The bad news is that it looks like the general regime the entry of Ukrainians into Austria remains unchanged, that is, there is no tourism. Those who have a residence permit, those who fly for special family reasons (wedding, family reunification, funeral…), as well as for urgent treatment can enter. They must have a fresh COVID-19 test taken,” he wrote on Facebook on Friday.
According to Scherba, an official note on the new regime is expected on Saturday.
“I know that there are a lot of questions from Ukrainian students who have just entered Austrian universities, therefore they do not yet have a residence permit. I don’t have an answer about the order of their arrival yet. If I have, I’ll write,” the diplomat said.
