Nova Poshta LLC has taken out a $20 million loan from Credit Agricole Bank to buy out a cargo and postal terminal in Lviv region to improve the company’s logistics capacities in western Ukraine.
“The loan term is five years. The money will be used to develop a logistics hub in Lviv,” Nova Poshta said in a statement on Monday.
It is specified that the loan funds will also be used to automate and install new modern sorting lines, which will triple the hub’s capacity.
“This is not the first loan to Nova Poshta from Credit Agricole, and the new agreement is a consistent development of our strategic cooperation. When the time comes to finance large-scale international projects, we want to have a reliable credit reputation with leading European banks,” Petro Fokov, CFO of NOVA Group, said in the release.
Nova Poshta LLC, the largest logistics operator in Ukraine from the NOVA group, intends to acquire Nova Development LLC (Sokilnyky village, Lviv district, Lviv region), whose main activity is the lease and operation of its own or leased real estate.
As reported, at the end of February this year, the Antimonopoly Committee of Ukraine granted Nova Poshta permission to purchase more than 50% of Nova Development, the legal successor of Best Logistics Group, which was engaged in the construction and leasing of logistics complexes and was part of the full-cycle development holding Globus.
“Best Logistics Group has already cooperated with Nova Poshta during the construction of a sorting terminal in Lviv in 2019, with investments of almost EUR 10 million, with Nova Poshta’s investment of approximately EUR 4 million. According to Vyacheslav Klimov, co-founder of NOVA Group, Nova Poshta was responsible for the equipment, while Best Logistics Group was responsible for the construction of the building.
The authorized capital of Nova Development, according to the state register, is UAH 186.4 million, while that of Best Logistics Group was UAH 1 million. Volodymyr Fenyk is listed as a beneficiary through the corporate venture investment fund Magistrate Invest.
According to Nova Poshta’s report for the first half of 2024, its debt to banks as of the middle of this year amounted to UAH 3.4 billion, including UAH 489.2 million to a subsidiary of a French bank, UAH 1 billion 474.6 million to an Austrian bank, UAH 420.3 million to a Hungarian bank, and UAH 4.4 million to a German bank, as well as two loans from a Ukrainian bank worth UAH 747.7 million.
In the first half of 2024, Nova Poshta LLC increased its unconsolidated net income by 20.1% to UAH 20.12 billion, but the company’s net profit decreased by 38.1% to UAH 1.49 billion.
On August 20, the Operator of the Gas Transportation System of Ukraine LLC announced a tender for voluntary liability insurance of members of the supervisory board, CEO, and members of the directorate. According to the electronic public procurement system Prozorro, the expected cost of purchasing the services is UAH 1.6 million.
According to the system, the last day for submission of tender offers is September 2.
tender insurance, Ukraine's gas transportation system operator
Change in prices of food raw materials from Ukraine (forecast up to 2025), %
Source: Open4Business.com.ua
Shareholders of IC “Globalis Insurance Solutions” (Kiev) at the meeting on September 28 plan to rename the company into PJSC “Globalis”, according to the agenda of the shareholders’ meeting, posted in the system of the National Commission on Securities and Stock Market (NCSSM).
In addition, the draft resolution proposes to exclude insurance from the company’s activities, and instead to introduce consultations on commercial activities and management, leasing and operation of own or leased real estate, activities in the field of law, activities of the main departments (head office) and identification of public opinion.
As reported, the National Bank of Ukraine in early January 2024 excluded Private JSC “IC ‘Globalis Insurance Solutions’ from the State Register of Financial Institutions due to the cancellation on January 4, 2024 of its licenses for the provision of financial services in the field of insurance. The regulator has taken such a measure of influence against the insurer in connection with its refusal to conduct an audit of the NBU, namely due to the failure to provide documents and information on the subject of the audit.
IC Globalis Insurance Solutions was registered in March 1997, specialized in risk insurance.
The European Commission on Tuesday re-introduced tariff quotas on Ukrainian honey due to the excess of quota-free volumes of its supplies to the European market, according to a press release from the EC.
“From August 21 to June 5, 2025, imports of Ukrainian honey to the EU will be carried out under the tariff quota of the Deep and Comprehensive Free Trade Area (DCFTA), which has been in force since 2016 between the two parties. The automatic re-introduction of this tariff quota is the result of the revised Autonomous Trade Measures (ATM), which are effective from June 6, 2024,” the statement said.
The EC recalled that the revision of these ATMs includes an emergency brake for seven agricultural products, which will be automatically triggered if imports reach the average annual imports recorded between July 1, 2021 and December 31, 2023. For honey, this average is 44.418 thousand tons.
The European Commission pointed out that, according to Article 4 of Regulation 2024/1392, after reaching these volumes, the EC has 14 days to reintroduce the relevant tariff quota from the DCFTA between the EU and Ukraine. Since the imports of honey from Ukraine have already exceeded the volumes established by this quota since the beginning of 2024, additional imports will be subject to most-favored-nation (MFN) duties. In particular, a new tariff quota will be introduced from January 1, 2025, until June 5, 2025, which will correspond to 5/12 of the threshold set for the emergency braking. For honey, the new quota will amount to 18,507 tons.
At the same time, the European Commission notes that imports of Ukrainian honey to the EU have been fairly stable over the past five years, averaging about 49 thousand tons per year.
As reported, the European Commission introduced quotas for the supply of eggs and sugar to the European Union from June 2, 2024 to June 5, 2025. For eggs, the new quota is set at 9,662 thousand tons, and for sugar – at 109,44 thousand tons.
According to Article 4(7) of the Regulation on autonomous trade measures applicable to Ukrainian products, Ukraine will be able to supply to the EU from June 6, 2024 to June 5, 2025 without paying any duty 57,101 thousand tons of poultry meat, 9,662 thousand tons of eggs, 109,439 thousand tons of sugar, 18,507 thousand tons of honey, 4.648 million tons of corn, 1,017 thousand tons of oats, and 8,603 thousand tons of cereals.
Maria Branias Morera died in her sleep in the morning at the age of 118, EFE reports. Maria was recognized as the first in the list of long-livers last year. Now the oldest person in the world is 116-year-old Japanese Tomiko Itooka.
Earlier, the family published the woman’s last message: “The time is near. Don’t cry, I don’t like tears. And most importantly, do not suffer because of me. Wherever I go, I will be happy.”
Last year, her daughter explained her mother’s longevity with good genes, DW writes. According to her, Branias has never been hospitalized in her life.
The record for longevity continues to be held by the Frenchwoman Jeanne Kalman, who died in 1997 at the age of 123. She is followed on the list of prominent, but also deceased, long-livers by Japanese Kane Tanaka, who lived 119 years, as well as 119-year-old Sarah Noss from the United States and 118-year-old Frenchwoman Lucille Randon.
