Business news from Ukraine

Business news from Ukraine

Ukrgasbank repaid UAH 1 billion of NBU refinancing ahead of schedule

The state-owned Ukrgasbank (Kyiv) repaid ahead of schedule UAH 1 billion of refinancing received from the National Bank of Ukraine (NBU) this year, the bank’s press service reported on Tuesday.
“On August 30, the state-owned Ukrgasbank made an early repayment of a refinancing loan in the amount of UAH 1 billion received from the NBU this year. The repayment was due to the positive dynamics of attracting funds from legal entities and individuals in August this year,” the report says.
JSB “Ukrgasbank” was founded in 1993. The state, represented by the Ministry of Finance, owns 94.94% of the shares of the financial institution.
According to the data of the National Bank of Ukraine, as of July 1, 2022, Ukrgasbank ranked 5th (UAH 139.671 billion) in terms of total assets among 68 banks operating in the country.

, ,

European stock markets win back fall day before

Stock indices of the largest countries of Western Europe are growing at the auctions on Tuesday, winning back the fall the day before.
The composite index of the largest companies in the region Stoxx Europe 600 by 11:20 pm increased by 0.87% and amounted to 426.32 points.
The German DAX index rises by 1.4%, the French CAC 40 – by 1.2%, the British FTSE 100 – by 0.6%. The Italian FTSE MIB and the Spanish IBEX 35 are up 1.5% and 1% respectively.
Consumer prices in Spain, harmonized with EU standards, increased by 10.3% in annual terms in August, preliminary data from the Spanish statistical office INE showed. Inflation slowed down from 10.7% in July and was below the 10.4% forecast by analysts polled by The Wall Street Journal.
The slowdown in consumer prices is associated with a slowdown in the rise in energy prices, the INE report notes.
On a monthly basis, consumer prices in the country rose by 0.1% in August. In the previous month, prices decreased by 0.6% compared to June.
Among the growth leaders in the Stoxx 600 are the shares of the Norwegian IT company Adevinta ASA (+13.8%), the Danish manufacturer of diagnostic equipment Ambu A/S (+7%), the British footwear manufacturer Dr. Martens PLC (+5%) and French digital Atos SE (+4.7%).
The drop leaders in Europe are shares of mining and energy companies, including Polymetal International PLC (-3%), Orron Energy AB (-2.8%), Dino Polska S.A. (-2.3%), Equinor ASA (-2%), Antofagasta PLC (-1.9%) and BHP Group Ltd. (-1.8%).

Moldova to buy some gas in Romania

Moldovan state company Energocom will buy 10 million cubic meters of natural gas for $16.6 million from Moldovagaz, which gets gas from Russia’s Gazprom, Deputy Prime Minister and Infrastructure and Regional Development Minister Andrei Spinu said on his Telegram channel, citing a decision made by the country’s National Commission for Emergency Situations.
“This transaction will also enable Moldovagaz to pay the advance for August by September 1,” Spinu said.
It was reported earlier that the the National Commission for Emergency Situations, which is chaired by Prime Minister Natalia Gavrilita, had ordered state company Energocom to buy 10 mcm of natural gas for storage in Romania.
The gas will be purchased and delivered under a framework EFET (European Federation of Energy Traders) type purchase-sale contract between Energocom and Moldovagaz, the government’s press service told Interfax.
For the first tranche of 5 mcm, the purchase price will be about $1,459 per 1,000 cubic meters. The second tranche of the gas purchase will be made in September at a price of $1,881 per 1,000 cubic meters.
The gas will be stored in neighboring Romania, as Moldova does not have its own gas storage facilities.
Moldovagaz was unable to pay an advance to Gazprom for supplies in August and the Russian company agreed to defer the payment to September 1. Moldovagaz said that current gas rates in the country do not cover its purchase price.
The commission also decided to allocate MDL 322 million from the state budget to increase Energocom’s charter capital.

, ,

Foreign Minister of Ukraine urges Swedish IKEA to resume activities in Ukraine

Foreign Minister Dmytro Kuleba invited Swedish businesses to resume their activities in Ukraine, in particular, the production and retail trade group IKEA, which has suspended operations since February 24.
“I call on Swedish businesses to actively explore and resume operations in Ukraine. For instance, Scania Group is already increasing business activities. Others should follow suit,” he said on Twitter.
Especially, IKEA which has abandoned six Ukrainian factories since February 24.
“Time to come back!” the Foreign Minister said.

Number of dead and wounded civilians in Ukraine as a result of military actions from 24.02.2022 according to un data (per)

Number of dead and wounded civilians in Ukraine as a result of military actions from 24.02.2022 according to un data (per)

Data: UN

Oil prices fall after a 4% jump the day before

The focus of traders remains the situation in Libya, as well as the upcoming OPEC + meeting, which is expected to discuss the possibility of cutting production.
The cost of October futures for Brent oil on the London ICE Futures exchange by 8:15 quarter on Tuesday is $104.28 per barrel, which is $0.81 (0.77%) lower than the closing price of the previous session. As a result of trading on Monday, these contracts rose by $4.1 (4.1%) to $105.09 per barrel.
The price of futures for WTI oil for October in the electronic trading of the New York Mercantile Exchange (NYMEX) is $96.76 per barrel by this time, which is $0.25 (0.26%) lower than the final value of the previous session. By the close of the market the day before, the cost of these contracts increased by $3.95 (4.2%) to $97.01 per barrel.
Over the weekend, clashes between two armed groups took place in Tripoli, as a result of which more than 30 people were killed, Bloomberg reported. This raised fears that Libya is waiting for another full-scale conflict, as a result of which oil supplies to the world market will be reduced. State oil company National Oil Corp., however, said on Monday that the country’s oil production remains at 1.2 million bpd.
“A new wave of Libyan production cut fears, coupled with uncertainty about the upcoming OPEC+ meeting, provided support for the oil market on Monday,” said Warren Patterson, head of commodity strategist at ING Groep NV. “However, without major supply disruptions or interventions OPEC+, we can hardly expect a significant rise in prices in the short term.”

,