Benchmark oil prices continued to decline slightly during trading on Wednesday after they plummeted to their lowest levels since July 21 a day earlier.
Quotes for January futures for Brent on the London ICE Futures exchange as of 7:05 a.m. amounted to $81.58 per barrel, which is $0.03 (0.04%) below the price at the close of the previous session. On Tuesday, these contracts fell by $3.57 (4.2%) to $81.61 per barrel.
The price of December futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) in the morning fell by $0.21 (0.27%) to $77.16 per barrel. At the end of the previous session, it fell by $3.45 (4.3%) to $77.37 per barrel.
On Tuesday, the US Department of Energy downgraded its forecast for Brent prices for the current year to $83.99 per barrel from $84.09 per barrel, and for 2024 to $93.24 per barrel from $94.91 per barrel. The estimate for WTI for the next year has been downgraded by 1.8% compared to the October forecast – to $89.24 per barrel.
Among the factors that put pressure on oil prices, the agency notes a decline in global reserves, risks of supply disruptions, and the impact of voluntary production cuts by a number of OPEC+ countries.
In July-September 2023, Ukrainian mobile operator lifecell increased its net profit by 45.5% year-on-year to UAH 555.4 million.
According to the report of Turkcell’s parent company on its website on Tuesday, lifecell’s revenue in the third quarter of this year increased by 25.7% to UAH 2.98 billion, which is explained by price adjustments.
The operator’s EBITDA increased by 16.3% to UAH 1.65 billion, while the EBITDA margin decreased by 4.5 percentage points to 55.3%.
“lifecell achieved an EBITDA margin of 55.3%. The decline is due to increased costs for roaming, interconnection services and electricity costs,” Turkcell said in a press release.
The operator’s capital expenditures in the third quarter increased by 48.9% to UAH 952.1 million.
According to the report, lifecell’s active subscriber base amounted to 9.1 million in the third quarter, up from 8.6 million in the previous quarter and 8.2 million a year earlier. The total number of customers increased to 11.4 million from 11.1 million in the previous quarter and 10.1 million a year earlier.
At the same time, ARPU (average revenue per user per month) among active users increased by 19.2% year-on-year and by 0.9% quarter-on-quarter to UAH 113.7.
“The penetration of lifecell smartphones amounted to 84.3% at the end of the third quarter. As of the end of June, on average, about 97% of stores in the country were open daily,” the report said.
Turkcell added that lifecell’s current cash reserves are “more than sufficient” to support its operations.
Overall, in the first nine months of the year, lifecell’s revenue increased by 26% year-on-year to UAH 8 billion 571.8 million, EBITDA by 26.1% to UAH 4 billion 968.9 million, and net profit by 2.9 times to UAH 1 billion 68.6 million. The company also increased its capital investments by 51% to UAH 3 billion 035.7 million.
lifecell is the third largest mobile operator in Ukraine. Turkcell owns 100% of the shares in Lifecell LLC.
In the third quarter, lifecell’s revenue accounted for 75.9% of Turkcell International’s revenue and 8.4% of Turkcell’s total revenue. The Ukrainian operator accounted for 10.6% of consolidated EBITDA and 7.4% of consolidated profit of Turkcell.
“Shakhtar defeated Barcelona 1-0 and retained its chances of qualifying for the Champions League playoffs, Suspilne.Sport reported on Tuesday evening.
“Shakhtar won its second victory in this season’s Champions League. “The Miners beat Barcelona 1-0 in a nominally home match in Hamburg,” the report said.
It is noted that this is Shakhtar’s first victory over Barcelona in 15 years.
It is also emphasized that Shakhtar started the European season with a defeat against Porto (1-3) and a victory over Antwerp (3-2). And in the first game against Barcelona away from home, the Miners lost 1-2.
The United Nations (UN) is requesting $435 million in humanitarian aid for Ukraine to help it get through the winter, the Ministry of Reintegration of the Temporarily Occupied Territories of Ukraine reports, citing the UN Office.
“In connection with the adjustment of the Humanitarian Response Plan, the UN asks partners to allocate $435 million in assistance to Ukraine. This is stated on the website of the United Nations Office for the Coordination of Humanitarian Affairs (OCHA Ukraine),” the Ministry of Reintegration said in a statement on its Telegram channel on Tuesday.
The UN believes that these funds will make it possible to provide humanitarian assistance to more than 1.7 million people throughout Ukraine until March 2024.
As noted, the relevant Humanitarian Response Plan is being implemented in support of the efforts of the Government of Ukraine, as well as national, regional and local authorities. In the future, it will be supplemented by a regular program designed to meet the needs of more than 11 million Ukrainians.
The 2023-2024 response will focus on communities where active hostilities have taken place or are taking place, namely in Donetsk, Dnipro, Kharkiv, Kherson, Luhansk, Mykolaiv, Sumy and Zaporizhzhia oblasts.
Cyprus-based International Distribution Systems Limited, the owner of Ukraine’s largest mineral water producer IDS Ukraine, has been subject to Ukrainian sanctions: asset freezes, prevention of capital outflows abroad, and a ban on increasing the authorized capital of related Ukrainian companies.
President Volodymyr Zelenskyy’s Decree No. 739 of November 7 on the implementation of the sanctions adopted by the National Security and Defense Council on the same day was published on the President’s website.
The decree imposes similar sanctions on eight more companies: four – Sogeral Foundation, Haberfield Limited, Slavisilla Holdings Limited, and Dendar Investment Fund Limited (all based in Cyprus) – for a period of 10 years, while IDS Limited and four others are subject to two-year sanctions.
The latter also include Alfa Finance Holdings Limited, Erasmony Limited, Rissa Investments Limited and CTF Holdings S.A.
Most of these companies are associated with Mikhail Fridman and other co-owners of the so-called Alfa Group, as evidenced, in particular, by the data disclosed earlier in Russia on the scheme of interaction between the participants of the management company Alfa Capital Management Company LLC, under whose control or significant influence this management company was. The list includes Peter Aven, German Khan, Andrei Kosogov, Alexei Kuzmichev and the former minority shareholder of Sense Bank, The Mark Foundation for Cancer Research. Friedman and his partners were previously included in the Ukrainian sanctions list.
As reported, the Ukrainian legislation adopted during the war allows the High Anti-Corruption Court to seize the assets of sanctioned persons to the state revenue.
Direct budgetary funding for Ukrzaliznytsia (UZ) in 2023 will amount to UAH 5 billion, of which UAH 3.5 billion has already been allocated over 10 months, and the government provides state guarantees for another UAH 6 billion for loans that the company takes out from international financial institutions, the Ministry of Finance of Ukraine has reported.
In particular, according to the Ministry of Finance, it is UAH 3.9 billion from the European Investment Bank (EIB) and UAH 2.1 billion from the European Bank for Reconstruction and Development (EBRD).
It is specified that out of the UAH 3.5 billion already allocated this year, almost UAH 3 billion has been allocated for the purchase of new passenger railcars, including the completion of payment for 100 passenger railcars ordered in 2021 and 44 railcars in 2023.
“The prepayment for the purchase of 44 new passenger cars was made on October 28 this year, including the supply of 9 new reserved seats. These will be the first new second-class cars purchased over the past 15 years and the first Ukrainian-made second-class cars,” Deputy Finance Minister Oleksandr Kava said in a release. He recalled that Russian second-class cars were previously purchased.
According to the Ministry of Finance, work is also underway to implement international projects aimed at restoring railway infrastructure: attracting a loan from the EBRD of up to EUR 200 million under the Emergency Support to Ukrainian Railways Project, a $25 million World Bank grant under the Restoration of Critical Infrastructure and Network Connectivity (RELINC) project, a EUR 37.6 million loan from France, and grant assistance from Switzerland for CHF 14 million.
As reported, this fall UZ signed a contract with Kryukiv Carriage Works (KVSZ, Poltava region) for the manufacture of 44 passenger railcars for UAH 1.951 billion with delivery by December 31, 2025.
By the spring of 2023, KVSZ had completed fulfilling Ukrzaliznytsia’s order for 100 passenger railcars under the contract signed in 2021 for more than UAH 3 billion, but pointed to late payment.
