Ukraine’s second-largest mobile operator, VF Ukraine (Vodafone Ukraine, VFU), which has bought back nearly $7 million worth of its own Eurobonds since the end of May as a result of three offers in connection with dividend payments, has announced an increase in the repurchase amount in the fourth such tender by $1.17 million to $5.12 million.
In a statement to the Irish Stock Exchange, the company noted that this is due to the company’s fifth monthly dividend payment of UAH 48.47 million, or about EUR 1 million.
Earlier, at the end of August, Vodafone Ukraine increased the redemption price from 85% to 90% of the nominal value and extended the deadline for accepting applications from August 28 to September 11, with settlements now planned for approximately September 18.
The first two times, Vodafone Ukraine redeemed bonds for an amount equivalent to EUR 1 million. The debut redemption was announced at a price of 99% of the nominal value, the second at 90% of the nominal value. The company did not announce the results of the second buyback on the stock exchange, while the scaling factor for the first buyback was 0.0040355668.
According to the results of the third tender, where the redemption price was reduced to 85% of the nominal value and the offer was limited to $4.67 million, Vodafone Ukraine received bids for $53.395 million and satisfied them in the amount of $5.208 million. The scaling factor was 0.1315451889487317.
Bonds maturing in February 2027 with a coupon rate of 9.625% per annum were issued for $300 million. After the cancellation of the redeemed bonds, the total nominal value of the bonds remaining in circulation is $292.532 million.
The redemption of Eurobonds is related to the fact that on April 24, 2025, VFU announced the payment of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. According to the restrictions of the National Bank, they will be paid in separate monthly dividend payments. Each such monthly dividend is expected to amount to UAH 1 million. The company emphasized that under the terms of the bond issue, in this case, it must offer all bondholders to submit an application for their sale for an amount equal to the amount of dividends paid outside Ukraine.
As reported, VFU reduced its net profit by 13% in the first half of 2025 compared to the same period last year, to UAH 1.705 billion, while its revenue grew by 15%, to UAH 13.518 billion.
Consulting firm Deloitte has published the 14th edition of its Property Index 2025 report on European housing markets. The study covers 28 countries and notes how markets are adapting to high rates amid weak supply: affordability in a number of capitals remains at multi-year lows, and demand is shifting to rentals. Deloitte
The least affordable capitals are Amsterdam (15.4 annual salaries for a “typical” 70 m² apartment), Athens (15.3), and Prague (15.0); Košice ranks fourth (14.2). At the opposite end of the spectrum are Odense (Denmark) and Turin (Italy), where the average purchase price is 4.9 times the annual income, as well as Manchester (UK) — 5.3.
Ukraine was not included in this study.
Deloitte notes that against the backdrop of a “bottleneck” with new projects and continuing demand, the rental segment is strengthening (rent increases are noticeable not only in capital cities but also in regional centers). At the same time, high rents and regulatory lags in permits continue to put pressure on property affordability, especially in large agglomerations.
Deloitte Property Index 2025 — a comparative study of European housing markets: prices for new buildings, affordability (in years of gross salary for a 70 m² apartment), rental dynamics, and mortgage rates. Key findings and figures are available on the Deloitte Property Index 2025 report page.
Tail LLC (Lviv region), one of the leaders in the production of metal roofing and corrugated sheets, has invested €10 million in the construction of an oil refinery, according to Maksym Kozytskyi, head of the Lviv Regional Military Administration (OVA).
“This facility represents investments that remain in Ukraine and strengthen our economy. For Lviv region, this means new jobs, taxes paid to the local budget, and a contribution to the development of the region’s economy,” he wrote on Telegram after visiting the enterprise together with Prime Minister Yulia Svyrydenko.
The head of government clarified that the owners of the enterprise, Yuriy Shkvark and Andriy Tsymbalyak, decided to diversify and try their hand at agricultural processing during the war.
“All the equipment at the plant is Ukrainian: TAN refining and PET Pet Technologies line from Chernihiv, TEFF boiler room from Odesa, Nadiya bottling line from Cherkasy, AKIM containers and filling unit from Dnipro, Lubnimash silos from Lubny. From Ukrainian entrepreneurs like them, who ensure our economic stability with their energy, labor, inventions, and investments,” Svyrydenko wrote on Telegram.
She added that Lviv entrepreneurs are currently building another plant in Kremenchuk.
Tail LLC was founded in 2009 in the Lviv region. It specializes in the production of steel roofing materials for exterior decoration of houses, facade work, and industrial complexes. The company’s product range includes more than 15 types of products, which are manufactured on 25 production lines.
According to data from Opendatabot, in 2024, Tile LLC increased its revenue by 19.6% to UAH 820.51 million, reduced its net profit by 1.9 times to UAH 10.16 million, increased its debt obligations by 1.6 times, to UAH 427.76 million, assets by 1.4 times, to UAH 550.51 million, and the number of employees by 19, to 204.
The beneficiaries of the enterprise are Andriy Tsymbalyak and Yuriy Shkvark.
Revenues from taxes, fees, and mandatory payments to the general and special funds of the state budget of Ukraine for the first eight months of 2025 amounted to UAH 2.40 trillion, while cash expenditures amounted to UAH 3.23 trillion, which is approximately 24.2% and 23.7% higher than the corresponding figures for the first eight months of 2024.
According to operational data from the State Treasury Service, published by the Ministry of Finance on its website, general fund revenues increased by 20.4% to UAH 1.71 trillion, while expenditures increased by 19.4% to UAH 2.50 trillion.
At the same time, in August this year, state budget revenues decreased by 30.1% compared to August last year, to UAH 314.2 billion, including the general fund – by 37.3%, to UAH 242.9 billion. This is due to significantly lower grant revenues – UAH 44 billion in August 2025 compared to UAH 228.1 billion in August 2024.
It is noted that after raising the military tax from 1.5% to 5% and introducing a condition for reserving a salary of UAH 20,000 this year, personal income tax and military tax moved from fourth to second place in terms of revenues for the first eight months of this year – UAH 230.9 billion compared to UAH 134.5 billion last year.
In addition, the main revenues were provided by: VAT on goods imported into the customs territory of Ukraine – UAH 340.4 billion (UAH 302.1 billion for the first eight months of 2024), corporate income tax – UAH 211.6 billion (UAH 195.3 billion), VAT on goods produced in Ukraine – UAH 206.5 billion for reimbursement of UAH 116.1 billion (UAH 175.0 billion for reimbursement of UAH 95.8 billion), excise tax – UAH 186.3 billion (UAH 129.6 billion).
In addition, dividends and part of the net profit of state-owned companies amounted to UAH 64.2 billion (UAH 66.5 billion), import and export duties – UAH 34.7 billion (UAH 31.6 billion), rent for the use of subsoil resources – UAH 27.4 billion (UAH 32.7 billion).
The Ministry of Finance added that another UAH 84.2 billion (UAH 38.6 billion) was added to the budget from the National Bank’s profits, and grants amounted to UAH 254.9 billion (UAH 268.3 billion).
Revenues from the unified social tax (UST) to pension and social insurance funds in January-August 2025 increased by 22.3% to UAH 423.5 billion, including in August by 21.0% to UAH 54.1 billion.
The Ministry of Finance also reported that as part of the financing of the general fund of the state budget, state borrowings to it in January-August 2025 amounted to UAH 1.24 trillion, or 106.1% of the plan, including UAH 345.5 billion received on the domestic market from the placement of government bonds (UAH 318.4 billion for the first eight months of 2024), including UAH 78.0 billion in foreign currency – $1.24 billion and EUR 557.7 million. At the same time, UAH 152.5 billion was raised through the issuance of military government bonds.
According to the release, approximately $21.4 billion or UAH 889.8 billion came from external sources, including approximately $13.3 billion under the ERA, with the total volume of this mechanism reaching $50 billion.
In addition, Ukraine received another EUR6.14 billion from the EU as part of the Ukraine Facility preferential long-term loan, $0.96 billion from the IMF, and $0.26 billion from the World Bank for the projects “Transforming Health Care through Reform and Investment in Efficiency” (THRIVE), “Creating Resilient Infrastructure in Vulnerable Environments in Ukraine” (DRIVE), and “Modernization of the Social Support System for the Population of Ukraine.”
Payments on the repayment of public debt for January-August 2025 amounted to UAH 404.0 billion, or 94.8% of the plan, and service payments amounted to UAH 233.3 billion, or 82.3% of the plan.
As reported, the 2025 state budget was approved with revenues of UAH 2 trillion 327.1 billion, including the general fund – UAH 2 trillion 133.3 billion (excluding grants and international aid), and expenditures of UAH 3 trillion 929.1 billion, including the general fund – UAH 3 trillion 591.6 billion. At the end of July, the Verkhovna Rada, at the government’s proposal, increased this year’s budget expenditures by UAH 400.5 billion and revenues by UAH 147.5 billion.
In 2024, the state budget received UAH 3 trillion 120.5 billion in revenues, which is UAH 448 billion, or 16.8%, more than the 2023 state budget. The general fund’s revenue growth amounted to UAH 513.9 billion, or 30.9%, to UAH 2 trillion 177 billion, in particular, international financial assistance in the form of grants amounted to UAH 453.6 billion compared to UAH 433.9 billion in 2023.
State budget expenditures in 2024 increased by UAH 464.5 billion, or 11.6%, compared to 2023, to UAH 4 trillion 479.3 billion, in particular, under the general fund – by 15%, or UAH 454.5 billion – to UAH 3 trillion 488.8 billion.
China’s Power China has expressed interest in investing in projects to develop renewable energy sources and modernize the energy grid in Serbia. This was announced by Serbian President Aleksandar Vučić following a meeting with company representatives, according to Serbian Economist, citing his Instagram post and a note by eKapija.
According to Vučić, the talks “explored opportunities for new projects in Serbia, especially in the field of renewable energy and power grid modernization,” with “company representatives expressing great interest in further investments in clean and low-carbon energy, as well as in upgrading existing infrastructure.” The meeting took place in Beijing as part of a series of contacts between the Serbian delegation and major Chinese corporations.
Power China is already involved in infrastructure projects in Serbia (in particular, in work on the first line of the Belgrade metro and the National Stadium). Earlier, in January 2024, the authorities announced agreements with China for €2 billion in investments in wind and solar power stations and hydrogen production — the largest package for the republic’s green energy sector at that time.
Source: https://t.me/relocationrs
Oil prices are rising on Monday morning as traders assess OPEC+’s decision and Washington’s new statements on sanctions against Russia amid Russia’s continued full-scale military aggression against Ukraine.
The price of November Brent futures on the London ICE Futures exchange rose by $0.83 (1.27%) to $66.33 per barrel as of 7:15 a.m. On Friday, the contract fell by $1.49 (2.22%) to $65.50 per barrel.
WTI crude oil futures for October delivery on the New York Mercantile Exchange (NYMEX) rose by $0.77 (1.24%) to $62.64 per barrel. At the end of the previous session, the price of these contracts fell by $1.61 (2.54%) to $61.87 per barrel.
Over the past week, Brent and WTI futures fell in price by more than 3% on fears of an oversupply in the market if OPEC+ countries increase production.
Ministers from eight OPEC+ countries participating in voluntary oil production cuts approved an increase in production by 137,000 bpd in October at a meeting on September 7. The decision was made in view of the stable outlook for the global economy and favorable market conditions, reflected in low oil inventories, according to a statement from the alliance.
This will be the first tranche of a partial return to the market of voluntary restrictions of 1.65 million bpd, which were to remain in effect until the end of 2026. Now, the plan is to get rid of them by August.
Meanwhile, the production increase agreed upon over the weekend turned out to be less significant than previous ones.
“The moderate increase in OPEC+ production has brought relief to the market,” wrote Fujitomi Securities analyst Toshitaka Tazawa, adding that the increase in production had already been factored into prices, and now there is a technical rebound.
“Expectations of a supply reduction due to possible new US sanctions against Russia are also providing support,” the expert noted.
US President Donald Trump said on Sunday that he was ready to impose a second phase of restrictive measures against Russia. Trump considers the additional tariffs imposed on India to be the first phase of anti-Russian measures. Washington justified these measures by saying that Delhi buys oil from Russia.
