IMK Agroholding has finished reaping winter wheat from the area of 33.3 thousand hectares and threshed 236 thousand tons of grain with a record yield of 7.1 tons/ha, its press service reported on Facebook on Thursday.
“The area to threshing this year was more than 80% more than the traditional for our company area under winter crops, which was caused by changes in the crop rotation structure in favor of winter wedge instead of corn. Nevertheless, we managed to harvest the entire crop promptly and get an excellent result, despite last year’s prolonged sowing of winter wheat and the reduced amount of fertilizers used,” – said IMK’s Chief Operating Officer Alexander Verzhikhovsky, whose words are quoted in the message.
As reported, agricultural holding “IMK” specializes in the cultivation of cereals, oilseeds and milk production in Ukraine. It cultivates about 123.3 thousand hectares of land in Poltava, Chernihiv and Sumy regions. It owns storage facilities for 554 thousand tons of grain and oilseeds.
In January-March 2023, IMK posted a $4.10 mln net loss, which is 2.6 times less than in the same period of 2022 and largely due to higher logistics and distribution costs. Revenue increased 11% to $41.96 million, of which $35.03 million came from exports. Gross profit increased 3.9 times to $8.60 mln due to a decrease in production costs. Due to a twofold increase in logistics and distribution costs (to $9.40 mln), the company recorded an operating loss of $2.85 mln, which is twice as high as in the first quarter of 2022.
The National Agency for the Prevention of Corruption (NAPC) has added two tobacco market leaders Philip Morris International and Japan Tobacco International to the list of international sponsors of war because of their continued operations in Russia, the agency said.
“The NACP has added two tobacco market leaders Philip Morris International and Japan Tobacco International to the list of international sponsors of war,” the NACP said in a statement on its Telegram channel on Thursday.
According to the financial statements of Philip Morris’ Russian subsidiary, the company’s revenue in the first year of Russia’s full-scale invasion of Ukraine increased by 8% to RUB 140.3 billion, and net profit – to RUB 48.2 billion, which is 45% more than in 2021. “Having confidence in Russia’s economic potential, the company is implementing a large-scale long-term investment program,” the statement said.
“Japan Tobacco International (JTI) is the undisputed leader of the tobacco market in Russia (market share – 34.9%). The company itself has openly stated that the Russian market generated about USD 2 billion. USD in 2022 for the JT Group, or approximately 11% of its consolidated revenue for 2022,” the NACP cites data on the second company’s activities in Russia.
“JTI is the largest investor and leading taxpayer in the Russian tobacco industry. Over the past 20 years, JTI’s investments in the Russian economy have exceeded $4.6 billion. In 2020, the company’s tax payments accounted for 1.4% of the federal budget’s revenue,” the NACP said in a statement.
The NAPC emphasizes that despite the fact that “representatives of both companies have announced their plans to close their business in Russia, stop new investments and marketing activities in Russia, they still continue to manufacture and distribute products in Russia.”
Swedish fashion-retailer H&M plans to start a gradual reopening in Ukraine from November 2023.
“Earlier it was reported that H&M Group temporarily closed its stores in Ukraine from February 24, 2022. The company has been in close dialog with partners and authorities and now plans to gradually reopen most of its stores in the country from November 2023,” the company’s website pointed out on Thursday.
The statement emphasizes that preparations are underway to reopen most stores where possible, with employee safety remaining a top priority.
H&M also plans to participate in relief and recovery programs, cooperate with local organizations and support Ukraine in the reconstruction process.
Swedish company Hennes&Mauritz AB (H&M), owner of Europe’s second largest clothing chain, opened its first store in Ukraine in 2018.
H&M Hennes&Mauritz LLC was established in 2013. According to the data of the Unified state register of legal entities and physical persons-entrepreneurs, the ultimate beneficiary is Stefan Persson (Sweden).
At the beginning of the full-scale invasion, the H&M chain in Ukraine had eight outlets: five in Kiev, one each in Odessa, Kharkiv and Lviv.
PJSC “European Insurance Alliance” (Kyiv) has collected UAH 146,098 mln of gross premiums in January-June 2023, which exceeded by 39,43% the volume of premiums for the same period of 2022.
In the message of Rating Agency “Standard-Rating” on updating the financial stability rating (credit rating) of the company for the first half of 2023 on the national scale at the level of “uaAА” it is indicated that receipts from individuals have increased by 61.51% – to UAH 37.957 mln, and from reinsurers, on the contrary, have decreased by 24.10% to UAH 0.444 mln.
Thus, following the results of the first half of 2023 legal entities continue to prevail in the client portfolio of the company.
Net premiums collected by the company grew by 41.9% to UAH 125.6 mln, earned premiums – by 32.6% to UAH 113 mln.
During the reporting period, the company paid UAH 51.7 mln, which is 28.3% more than in the same period last year.
Net profit has amounted to UAH 1,9 mln (+76,3%), financial result from operating activities – UAH 3,95 mln (+20,3%).
Assets of the insurer as of June 30, 2023 have amounted to UAH 229,2 mln (+15,5%), shareholders’ equity – UAH 85,6 mln (-0,17%), cash and cash equivalent – UAH 74 mln (+29%).
PJSC ‘European Insurance Alliance’ has been working in the insurance market of Ukraine since 1994. It is a member of the Audit Commission of the ITSBU, a participant of the Agreement on direct settlement of losses on compulsory insurance of civil liability of owners of land vehicles and a member of the Council of the Nuclear Insurance Pool of Ukraine.
The Company provides 30 types of voluntary and compulsory insurance, including property, automobile, liability and personal insurance.
Canadian Foreign Minister Melanie Joly announced the appointment of Natalia Tsmotsi as Canada’s ambassador to Ukraine, in this post she will replace Larissa Galadza, the Foreign Ministry’s website reported on Thursday, August 24.
“She is a professional expert on Ukraine with a wealth of experience and understanding of Canada’s multifaceted support to the country, including Canada’s implementation of democratic programs before the illegal Russian annexation of Crimea, the creation of Operation UNIFIER and Canadian monitoring of the Ukrainian elections after the 2015 presidential campaign,” – stated in the message.
It is noted that Natalia Tsmotsi speaks Ukrainian, has deep ties with the Ukrainian community in Ukraine and in Canada, and is ready to help deepen ties between the two countries at all levels.
The Foreign Ministry emphasized that thanks to the diplomatic mission of the newly appointed ambassador, “Canada will be able to continue supporting Ukraine in this difficult time and in the long term”.
The share of the U.S. dollar in international settlements within the SWIFT system rose to 46.5% in July from 39.4% a month earlier, according to the monthly RMB Tracker report released by SWIFT.
Bloomberg agency calls the dollar’s July performance a record high. Ten years ago, the currency accounted for just over a third of all settlement volume.
The U.S. dollar remains the leader in terms of share in international settlements. The second position is still occupied by the euro, whose share last month fell to a historically low 24.4% from 38.4%, the third – the pound sterling (7.6% in July against 6% a month earlier), the fourth – the yen (3.5% against 2.7%), the fifth – the yuan (3.1% against 2.2%).
In 2012, the single European currency held 46% of settlement volume. This is its peak figure.
Meanwhile, the share of the Chinese currency exceeded 3% for only the second time in the history of observations. In 2010, it was about 0.03%.
