Benchmark oil prices are moderately falling on Friday morning after a sharp decline on Thursday, as investors continue to assess the outcome of the OPEC+ ministerial meeting held the day before.
The price of February futures for Brent on the London ICE Futures exchange at 7:14 a.m. is $80.63 per barrel, which is 23 cents lower than at the close of the previous session. The day before, these contracts fell by $2.02 (2.4%) to $80.86 per barrel.
Quotes for January futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) by this time fell by 4 cents to $75.92 per barrel. At the end of the previous session, they fell by $1.9 (2.4%) to $75.96 per barrel.
OPEC+ did not change the official quotas following the meeting that ended the day before, while some countries of the group will voluntarily reduce production by 2.2 million barrels per day in the first quarter of 2024. Saudi Arabia will reduce production by 1 million bpd, Iraq – by 223 thousand bpd, UAE – by 163 thousand bpd, Kuwait – by 135 thousand bpd, Kazakhstan – by 82 thousand bpd, Algeria – by 51 thousand bpd, Oman – by 42 thousand bpd.
Russia will extend and deepen its existing export restrictions. Until the end of 2023, there will be a 300 thousand bpd restriction on the export of oil and oil products compared to May-June 2023. The Russian authorities have announced that the country will increase this reduction by another 200 thousand bpd to 500 thousand bpd and extend it to the first quarter of 2024, while oil supplies will be reduced by 300 thousand bpd and oil products by 200 thousand bpd.
“Initially, oil prices jumped on the news of the extension and deepening of oil production cuts, but investors are worried about OPEC’s compliance with the terms of the deal, as well as about the growth in global fuel demand,” wrote Rob Hayworth, Chief Strategy Officer at U.S. Bank Asset Management Group.
Norway will allocate NOK 200 million (approximately EUR 17 million) to the World Food Program, including the Grain from Ukraine program, and NOK 50 million (approximately EUR 4 million) will be transferred to the World Bank’s Ukraine Fund, the Norwegian government said in a statement.
“Norway will continue to support the people of Ukraine. At the same time, we do not lose sight of other crises in the world. The Nansen Program (5-year support program for Ukraine – IF-U) is one example of how we manage to combine these efforts,” Norwegian Foreign Minister Espen Barth Eide said in a statement.
In addition, it is noted that another 150 million Norwegian kroner (about EUR 12 million) will be allocated to the World Food Program in response to its call for emergency assistance to Ukraine.
“In addition to providing food aid near the front line, these funds will be used to demine agricultural land, allowing farmers to return to food production as soon as possible,” the statement said.
The growth of effective demand in the “comfort+” category in the capital region is 3-5% per month, said Daria Bedia, Marketing Director of DIM Group of Companies.
“In liquid projects in the comfort+ category in the price range of $1300-1500 per square meter with stable construction dynamics and a high-quality concept, the monthly increase in effective demand is 3-5%,” Daria Bedia told Interfax-Ukraine, citing data from the company’s analytical report.
According to her, the positive dynamics since the end of spring is a good signal and indicates that buyers are now ready to invest in a comfortable and safe living environment in Ukraine that will fully meet their requirements and expectations.
These requirements, according to Bedi, include a well-thought-out concept that takes into account different life scenarios in both the spatial zoning of the territory and the filling of functions. A diverse multifunctional infrastructure that reflects the expectations of the target groups of buyers, a well-thought-out apartment layout and a variable range of planning solutions, energy independence of the complex, in particular, the availability of alternative power sources for water supply or power for elevator equipment, a customer-oriented service company and an access control system are mandatory.
“The level of demand is directly influenced by the concept of the project itself, the stage of construction, and especially the real construction dynamics at the site, the developer’s reputation, and flexible purchase terms, both in installments and 100% payment,” explained the marketing director of DIM Group.
Today, most buyers in the comfort+ segment are interested in one-bedroom apartments of 40-47 sq. m. with a kitchen-living room of 20 sq. m. and a separate bedroom with a dressing room. The top two-room apartments are 68 to 75 sq. m. with two separate bedrooms, a kitchen-living room of 20 sq. m., three-room apartments of 85-90 sq. m. with three separate bedrooms, one of which is a master bedroom with its own bathroom and wardrobe, a large kitchen-living room is also a priority.
Daria Bedia added that transactions for the purchase of business class apartments with an average price of $2 thousand per square meter have become more frequent in the primary real estate market. At the beginning of the fall, business class accounted for 25% of sales, although in the spring this figure was 15%.
DIM Group was founded in 2014 and consists of six companies covering all stages of construction. To date, it has commissioned 12 buildings in six residential complexes with a total residential area of over 218 thousand square meters. Six residential complexes of “comfort+” and “business class” categories are under construction: “New Autograph, Metropolis, Park Lake City, Lucky Land, etc.
VEON, a Nasdaq and Euronext-listed international telecommunications group that is 100% owner of the largest Ukrainian telecom operator Kyivstar, has received the Crisis Response Awards 2023 international award for its crisis communication program in Ukraine, Pakistan and Bangladesh.
The decision was made by the World Communication Awards Association in Amsterdam on November 22, 2023.
The winners of the World Communication Awards are determined during the Total Telecoms International Congress. The decision is made by an international jury of more than 90 telecom industry experts, CTOs of the largest international IT and telecom companies, as well as reputable representatives of the communications industry from around the world.
VEON was recognized for its “comprehensive approach to providing communications during the most challenging operational situations caused by both natural disasters and global conflicts, during which the Group ensured the resilience of telecom networks, implemented early warning programs and provided humanitarian assistance. The jury of the competition separately noted the efforts of Kyivstar and the company’s CTO Volodymyr Lutchenko in organizing work to keep Ukrainians connected at home and abroad, ensuring the functioning of the telecommunications network and communication services despite shelling and power outages, and developing the Helsi IT platform for providing online medical consultations.
Over the past two years, VEON has focused on developing technologies for the most vulnerable people and communities to help them overcome the challenges of wartime, such as in Ukraine, or during natural disasters, such as in Pakistan or Bangladesh.
“VEON’s crisis response initiatives have proven to be extremely important in protecting against large-scale disasters and ensuring connectivity during geopolitical challenges,” said VEON CEO Kaan Terzioglu. “In all the markets where the Group operates, we have provided connectivity to all subscribers and contributed to the provision of humanitarian aid to those who need it most.
About Kyivstar
Kyivstar is Ukraine’s largest electronic communications operator, serving more than 24 million mobile subscribers and over 1 million Home Internet subscribers as of September 2023. The company provides services using a wide range of mobile and fixed technologies, including 4G, Big Data, Cloud solutions, cybersecurity services, digital TV, etc. Kyivstar helps subscribers, society and the country to overcome the challenges of wartime. Since the beginning of the full-scale war, the company has allocated more than UAH 1.3 billion in aid to meet the humanitarian needs of the Armed Forces, society and subscribers. Kyivstar’s sole shareholder is the international VEON Group (headquartered in the Netherlands). The Group’s shares are listed on NASDAQ (New York) and Euronext (Amsterdam). Kyivstar has been operating in Ukraine for 25 years and is recognized as the largest taxpayer in the telecom market, the best employer and a socially responsible company.
pr@kyivstar.net, www.kyivstar.ua
About VEON
VEON is a digital communications operator that provides converged connectivity and digital services to nearly 160 million customers. With operations in six countries, home to more than 7% of the world’s population, VEON transforms lives through technology services that empower people and drive economic growth. Headquartered in Amsterdam, VEON is listed on the NASDAQ and Euronext stock exchanges. For more information, please visit: https://www.veon.com.
ADONIS clinic network is pleased to invite you to a lecture on the topic: “UTERINE FIBROIDS”.
The event will be held by Dr. Gali Alya Shabanovich, Head of the Family Planning Department, Candidate of Medical Sciences, highly qualified gynecologist with 25+ years of experience.
Date: December 2, 2023
Time: from 10:00 to 12:00
Location: Sofiyivska Borshchahivka, 90 Akademika Shalimova St.
Registration is required!
The event is free of charge.
Lecture program:
– What is uterine fibroids and its types;
– Causes and clinical manifestations;
– Diagnosis and treatment methods;
– Myths and truth about uterine fibroids;
– Answers to your questions.
If you have any questions or need additional information, please call the direct number of the branch in Sofiyivska Borshchahivka: +38 067 322 96 07
We will be glad to see you at the lecture!
Do not miss the chance to keep up with the latest news in medicine.
Sincerely, ADONIS clinic network.
Slovakia will extend the embargo on imports of Ukrainian grain from January 1, 2024 for an indefinite period, and will also expand the list of Ukrainian agricultural products for which access to the country’s domestic market will be closed, EFE reports.
According to the agency, which cites a statement by the Slovak Ministry of Agriculture, the embargo on the import of Ukrainian goods – wheat, corn, beets and sunflower seeds – to Slovakia expires at the end of this year. Bratislava has decided to maintain these restrictions.
In addition, the government has decided to expand the list of Ukrainian products that will also be subject to an import ban starting January 1, 2024, including barley, wheat flour, cane sugar, malt, soybeans, honey, and some other products.
All products subject to the restrictions can cross the country’s border only in sealed transit. The purpose of these measures is to protect local agricultural producers.
