Business news from Ukraine

Business news from Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF MAY 22

Official rates of banking metals from national bank as of May 22

One troy ounce=31.10 grams

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SMART ENERGY LAUNCHES NEW WELL IN UKRAINE

The British company Regal Petroleum, part of the Smart Energy group, received an industrial influx of hydrocarbons from a new exploration well with a depth of 5,322 meters on Svyrydivske field (Poltava region).
“Well SV No. 54 that was spudded in October 2019 has already obtained the commercial inflow of natural gas and gas condensate at the level of 80,000 cubic meters/day and 5 tonnes/day respectively. Currently, the well testing is undertaken, while it is hooked-up to the gas processing facilities,” the company said on its website.
“Modern technologies of well drilling and casing, unique technical solutions, applied while development and testing of well No. 54, enabled to minimize the negative influence on productive reservoirs, retain their fluid loss properties, obtain strong hydrocarbons flow and put a well on production ahead of schedule,” Viktor Dudzych, the CTO of Smart Energy Group, commented.
“Earlier, in Q4, 2019, Smart Energy Group put well No. 119 on operation at Mekhedivsko-Golotovshchynske field in Poltava region. Currently, its average daily production rate is 140,000 cubic meters/day for gas and 25 tonnes/day for gas condensate,” the report says.

SWEDISH COMPANY BUILDS UP 98.3% STAKE IN CENTRAL DEPARTMENT STORE IN UKRAINIAN CAPITAL

The main shareholder of PrJSC Ukraina Department Store, the manager of the shopping and entertainment center of the same name located at 3 Svobody Square in Kyiv, the Swedish company Quinn Holdings Sweden AB, has built up a 98.3% stake in the company and became the owner of a controlling stake.
According to the statement in the information disclosure system of the National Securities and Stock Market Commission, the relevant letter was received on May 19.
Thus, Quinn Holdings Sweden AB, together with affiliates, is the owner of 122,985,402 ordinary registered shares of the company, which is 98.372% of the total number of its shares. The ultimate beneficiary is Irish Bank Resolution Corporation (IBRC), Ireland’s state-owned bank.
According to the National Securities and Stock Market Commission, the net income of PrJSC Ukraina Department Store increased by 8.2% in 2017 compared to 2016, to UAH 155.7 million, while its net loss amounted to UAH 273.3 million against UAH 67.8 million of net income.

RETAIL TRADE TURNOVER IN UKRAINE 14.9% DOWN IN APRIL 2020

Ukraine’s retail trade turnover in April 2020 compared to the same month of 2019 in comparable prices decreased by 14.9%, while in March it grew by 6.1%, the State Statistics Service has reported. According to the service, in April, compared with March 2020, retail trade turnover decreased by 23%.
In January-April 2020 compared with January-April 2019, retail trade turnover increased by 3.2%.
The largest growth in the retail turnover of enterprises (legal entities and individual entrepreneurs) for the four months of 2020 compared to the same period in 2019 was recorded in Kyiv (by 10.5%), Zaporizhia (by 9.8%), Dnipropetrovsk (by 8.6%), Odesa (6.7%), Volyn (6.3%), Kirovohrad (5.3%), Kharkiv and Donetsk (4.9%), Poltava (4.5%) regions.
The service recalls that the data are given without taking into account the temporarily occupied territory of the Autonomous Republic of Crimea, Sevastopol, part of Donetsk and Luhansk regions.

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