Canada’s economy contracted by 1.6% year-on-year in the second quarter, according to the country’s statistics agency. Analysts polled by Trading Economics had expected a more moderate decline of 0.6%. Compared to the previous quarter, Canadian GDP fell by 0.4%.
According to revised data, in the first quarter, the Canadian economy fell by 2% year-on-year but rose by 0.5% quarter-on-quarter. Canadian exports fell by 7.5% in April-June, while imports fell by 1.3%.
Meanwhile, consumer spending rose by 1.1% and government spending by 1.8%.
Earlier, the Experts Club information and analytical center made a video analysis of the prospects for the Ukrainian and global economies. For more details, see the video — https://youtu.be/kQsH3lUvMKo?si=F4IOLdLuVbYmEh5P
A US appeals court on Friday ruled that most of the tariffs imposed by Donald Trump were illegal, undermining the use of these levies as a key tool of international economic policy, Reuters reports.
The court allowed the tariffs to remain in effect until October 14 so that the Trump administration could appeal to the US Supreme Court.
“The decision comes amid a legal battle over the independence of the Federal Reserve, which is also likely to reach the Supreme Court, creating an unprecedented legal confrontation this year over Trump’s economic policy,” the report said.
US President Donald Trump criticized the verdict, saying it was accepted: “ALL TARIFFS ARE STILL IN EFFECT! Today, the highly partisan Court of Appeals wrongly ruled that our tariffs should be canceled, but they know that the United States of America will ultimately prevail. If these tariffs ever disappear, it will be a complete disaster for the country. It will make us financially weak, and we must be strong… Now, with the help of the US Supreme Court, we will use them to benefit our nation and make America rich, strong, and powerful again!” Trump wrote on Truth Social.
According to the publication, in a 7-4 decision, the court considered the legality of the “reciprocal” tariffs imposed by Trump in April as part of the trade war, as well as separate tariffs against China, Canada, and Mexico imposed in February.
The court noted that the International Emergency Economic Powers Act (IEEPA), to which Trump referred, does not provide the president with the direct right to impose tariffs. “It is unlikely that Congress, in enacting the IEEPA, intended to depart from its previous practice and grant the president unlimited authority to impose tariffs,” the document states.
Poland has deported 15 Ukrainian citizens who “posed a threat to public safety and order in Poland” and handed them over to the Ukrainian side, Polish broadcaster RMF24 reported.
“15 Ukrainian citizens were deported from Poland. They were forcibly brought to the border by border guards and handed over to the Ukrainian side,” the broadcaster said in a statement on its website on Saturday.
Polish border guards claim that the 15 Ukrainians who were expelled from the country had been repeatedly convicted of theft, robbery, and drunk driving. According to them, they “posed a threat to public safety and order in Poland.” In one case, a Ukrainian was on the list of persons whose stay in Poland is considered undesirable.
The people covered by this procedure had been repeatedly convicted of crimes and offenses. These included theft, robbery, possession of narcotic and psychotropic substances, document forgery, drunk driving, and organizing illegal crossings of the Polish border. In addition to being expelled from the country, they were also banned from entering Poland for 5-10 years.
“Poland is a friendly country, open to foreigners. However, there has been and will be no tolerance for violations of the law by them, regardless of their country of origin. The Ministry of Internal Affairs and Administration will respond decisively to violations of our legal order,” said ministry spokeswoman Karolina Halecka, as quoted by the publication.
It is noted that since the beginning of the year, 1,100 foreigners have been forced to leave Poland.
As reported, Polish Prime Minister Donald Tusk announced in early August that after riots at a concert by Belarusian rapper Max Korzh at the National Stadium in Warsaw, 57 Ukrainians would have to leave the country.
Astarta, Ukraine’s largest sugar producer, increased its average cattle herd to 29,000 head (+4%) in January-June 2025.
According to data published by the holding company on the Warsaw Stock Exchange, in the first half of this year, Astarta increased milk yield per cow by 3% to 28 kg/day, which led to a 2% increase in milk production to 63,000 tons.
Revenue in the segment grew by 17% to EUR29 million due to an 11% increase in prices and a 2% increase in sales volumes.
Gross profit decreased by 11% compared to the same period last year to EUR13 million, reflecting higher costs and a revaluation of BA during Q1 2025. Gross margin decreased from 57% to 43% in the first half of 2025.
EBITDA amounted to EUR12 million compared to EUR15 million in the first half of 2024.
The agricultural holding estimated its share in milk production in Ukraine at 3%.
Astarta is a vertically integrated agricultural holding operating in eight regions of Ukraine and the largest sugar producer in Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Hlobyn (Poltava region), seven elevators, and a biogas complex.
In 2024, Astarta increased its net profit by 34.5% to EUR83.25 million, while its consolidated revenue decreased by 1.1% to EUR612.15 million.
In the first quarter of this year, the agricultural holding’s revenue fell by 24.9% to EUR124.58 million, while net profit fell by 28.8% to EUR6.42 million.
Agroholding Agrotrade received UAH 120 million in financing from Raiffeisen Bank as part of the European Bank for Reconstruction and Development (EBRD) risk-sharing program, the agroholding’s press service reported on Facebook.
It is noted that these funds will be used to cover seasonal needs: payment for agricultural services, purchase of fertilizers and plant protection products, as well as preparation for a new production cycle.
In addition, the company will attract an EBRD grant under the Human Capital Investment Incentive Program. It will be used to improve working conditions for employees and will be financed by the Kingdom of the Netherlands through the EBRD’s Special Crisis Response Fund.
“This result is the culmination of a year and a half of work with the EBRD. The negotiations were not easy, as our assets are located in the northeastern regions of Ukraine, which are considered high-risk. But we have proven that we are able to work effectively in any conditions, maintaining transparency, discipline, and responsibility to our partners,” said Antin Zhdanov, Deputy CEO for Economics and Finance at Agrotrade Group, whose words are quoted in the press release.
“Our cooperation with the EBRD under the risk-sharing program makes credit financing more accessible for agricultural companies, even in frontline regions. This has a positive impact on the recovery of the economy and the agricultural sector in particular,” said Larisa Bondareva, Deputy Chair of the Board of Raiffeisen Bank.
Analyzing the advantages of the project, the agricultural holding explained that Agrotrade gained financial flexibility and was able to purchase resources for production cycles on time, Raiffeisen Bank received guarantees for part of its loan portfolio, and the EBRD implemented its strategy of supporting business in regions affected by the war.
The Agrotrade Group of Companies is a vertically integrated holding company covering the entire agro-industrial cycle (production, processing, storage, and trade in agricultural products). It cultivates over 70,000 hectares of land in the Chernihiv, Sumy, Poltava, and Kharkiv regions. Its main crops are sunflower, corn, winter wheat, soybeans, and rapeseed. It has its own network of elevators with a one-time storage capacity of 570,000 tons.
The group also produces hybrid seeds for corn, sunflower, barley, and winter wheat. In 2014, a seed plant with a capacity of 20,000 tons of seeds per year was built on the basis of the Kolos seed farm (Kharkiv region). In 2018, Agrotrade launched its own brand, Agroseeds.
The founder of Agrotrade is Vsevolod Kozhemyako.
Astarta, Ukraine’s largest sugar producer, reduced sugar sales by 29% in January-June 2025, the agricultural holding’s press service reported.
Astarta noted that in the first half of 2025, the segment’s revenue amounted to EUR79 million, which is 38% less than in the same period last year.
This was caused by an 11% drop in sugar prices and a 29% decrease in sales volumes, the agricultural holding explained.
According to the report, sugar exports accounted for 47% of the segment’s revenue, compared to 58% in the first half of 2024. The main export destinations were Libya, Macedonia, and Israel. Astarta’s share in Ukraine’s sugar exports was 24%.
Astarta’s team is currently actively preparing for the sugar beet harvest and processing season.
Astarta is a vertically integrated agro-industrial holding operating in eight regions of Ukraine and the largest sugar producer in Ukraine. It comprises six sugar factories, agricultural enterprises with a land bank of 220,000 hectares, dairy farms with 22,000 head of cattle, an oil extraction plant in Hlobine (Poltava region), seven elevators, and a biogas complex.
In 2024, Astarta increased its net profit by 34.5% to EUR83.25 million, while its consolidated revenue decreased by 1.1% to EUR612.15 million.
In the first quarter of this year, the agricultural holding’s revenue fell by 24.9% to EUR124.58 million, while net profit fell by 28.8% to EUR6.42 million.
On June 12 this year, the shareholders’ meeting approved the payment of dividends for 2024 in the amount of EUR0.5 per share for a total of EUR12.5 million, which is in line with the figures for the previous two years.
