International retail chain JYSK opened a store in the Vega shopping center in Bila Tserkva on Thursday after renovating and expanding its retail space, the retailer’s press service reported.
According to the report, the store’s retail space has increased from 890 sqm to 1077 sqm, and the warehouse area has increased from 140 sqm to 213 sqm.
The store has been updated in accordance with the modern concept of the 3.0 chain with a new layout and design. The store also features three exhibition areas. A new canteen and dressing room have been equipped for employees.
As reported, since the beginning of 2023, JYSK has opened five new stores and renovated three existing ones.
Currently, there are 88 JYSK stores and the online store jysk.ua in Ukraine. According to the company, this number should increase to 100 by 2024. JYSK has more than 800 employees in the country.
JYSK is part of the family-owned Lars Larsen Group with more than 3.2 thousand stores in 48 countries.
JYSK’s revenue in the financial year 2022/23 amounted to EUR 5.2 billion.
Benchmark crude oil prices continue to climb on Thursday afternoon amid a weaker US dollar.
November Brent crude futures on the London-based ICE Futures exchange at 14:29 Q2 are trading at $93 per barrel, up $1.12 (1.22%) from the previous session’s close.
WTI crude futures for October delivery rose $1.14 (1.29%) to $89.66 per barrel in electronic trading on the New York Mercantile Exchange (NYMEX).
The expected increase in global oil demand by 1.5 million bpd in the second half of 2023 compared to the first half of the year will outstrip supply by 1.24 million bpd, according to a report published the day before by the International Energy Agency (IEA).
The IEA estimates that the balance of the global oil market turned into a deficit in the third quarter as more supply cuts coincided with record high demand.
Meanwhile, the DXY index, which shows the value of the U.S. dollar against six major world currencies, is down 0.03%, boosting the attractiveness of commodities quoted in the U.S. currency.
In Ukraine, oil producers are loaded with raw materials, which caused the collapse of domestic purchase prices for sunflower seeds, the sunflower market will pass the “price bottom” in mid-October, according to the analytical cooperative “Pusk”, established within the framework of the All-Ukrainian Agrarian Rada (VAR).
“Domestically, processing plants have started to collapse sunflower prices, as they have contracted the necessary volumes of raw materials for September. There are factories staffed with oilseeds a month in advance, others – for one or two weeks. Accordingly, processors will buy raw materials in a wide price range of 10500-12500 UAH/ton”, – analysts explained and expressed hope that in the first weeks of October the market will see the lowest prices for sunflower.
According to experts, despite the ban on sunflower imports to five neighboring EU countries, Bulgaria contracts Ukrainian sunflower and many agreements have already been signed. Although Bulgaria has not officially announced the imminent lifting of bans on imports of Ukrainian grain, but trade in this direction is very active.
“A certain decrease in vegetable oil prices on the global market will support the current downward price trend in the Ukrainian sunflower market,” the BAR forecasts.
The National Bank of Ukraine (NBU) has decided to cut its key policy rate again to 20% per annum from 22% per annum, effective September 15, in line with market expectations.
“Taking into account the balance of risks, the rapid decline in inflation and the ability to maintain exchange rate stability, the NBU Board has decided to cut the key policy rate to 20% (…) Further slowdown in inflation and the NBU’s ability to ensure exchange rate stability allow the NBU to continue the cycle of rate cuts while maintaining sufficient attractiveness of hryvnia savings. Such a step will support economic recovery and at the same time does not pose a threat to macrofinancial stability,” the central bank said on its website on Thursday.
The NBU noted that price dynamics were better than the NBU expected, primarily due to an increase in food supply, in particular, good harvests contributed to lower prices for cereals, flour, vegetables and some fruits.
“At the same time, the decline in core inflation (to 10% yoy in August) was close to the NBU’s July forecast. The NBU’s measures to ensure the attractiveness of hryvnia assets and the stability of the foreign exchange market played an important role in easing underlying price pressures. In particular, they contributed to further improvement of exchange rate and inflation expectations,” the central bank added.
It is noted that the general downward trend in inflation will continue, but the potential for a rapid slowdown is almost exhausted.
“On the one hand, better harvests will limit price growth in the coming months. The impact of fixing certain tariffs for housing and communal services will also remain,” the NBU explained.
The NBU will continue to ensure the stability of the foreign exchange market to keep exchange rate and inflation expectations under control, which will contribute to a further decline in
On the other hand, the pressure on business costs will be significant due to both war-related losses and rising electricity and fuel prices, which may restrain the slowdown in inflation, the NBU added.
In the future, the NBU expects to continue the cycle of key policy rate cuts, the implementation of which will be consistent with the need to maintain the attractiveness of hryvnia assets as a prerequisite for the stability of the foreign exchange market and a steady decline in inflation.
German concern Rheinmetall has provided the Armed Forces of Ukraine with a modern mobile field hospital. It meets NATO Role 2 medical support standards, the concern’s press service reported.
The mobile field hospital is designed for 32 beds, eight of them are for intensive care, and also has an operating room, laboratory and medical equipment – X-ray and computer tomography. Its production cost almost 9 million euros.
“Rheinmetall has supplied Ukraine with a mobile field hospital. Just in September 2022, the German Ministry of Defense awarded a contract to the group’s subsidiary Rheinmetall Mobile Systeme GmbH, or RMS, for the hospital and related training support,” the press service said in a statement
The hospital has independent generating capacity and its own water supply, including therapeutic decontamination. At the same time, a German company has taken over the responsibilities of equipment support and staff training. In addition to the field hospital itself, Rheinmetall has also provided Ukraine with the necessary transportation facilities.
According to the company, Rheinmetall and RMS plan to supply Ukraine with two more highly mobile medical support facilities in late 2023-early 2024.
It is noted that the state-of-the-art field hospital is a fully self-sufficient medical support facility. It includes not only medical modules in expandable containers and tents, but also independent generating capacity and medical gas production equipment. The hospital also has its own water supply, including therapeutic decontamination, as well as billets with sanitary modules for patients and staff. The high quality of the system is evident in the details. For example, the water supply is heated and the sensitive CT scanner in the container is equipped with a spring and an elaborate transportation system, so it can be safely transported by land, sea or air and is ready for use on arrival. Designed for maximum operational mobility, all systems and equipment in the hospital are reusable.
State-owned Oschadbank provided a UAH 250 million revolving credit line to Tavria Plus, a private enterprise (PE) that is part of the Tavria B retail chain, in August as part of the state program “Affordable Loans 5-7-9%,” the financial institution’s website reports.
“During the period of full-scale war, we have already signed five loan agreements with this retail chain totaling UAH 865 million,” said Yuriy Katsiyon, Deputy Chairman of the Board of Oschadbank in charge of corporate business.
Vyacheslav Pysmenyuk, director of Tavria Plus, noted that by combining different types of credit support, they managed not only to balance payments with suppliers but also to further develop the network.
It is noted that Oschadbank has been cooperating with Tavria Plus since 2014. In addition, during 2022-2023, the company additionally received support from the state bank on general terms.
The state bank clarified that the credit line for Tavria B was the third such line for retailers under the state program “Affordable Loans 5-7-9%”. Their purpose is to replenish working capital. The total amount of funding provided by the state program during the full-scale war amounted to UAH 580 million.
According to the retail chain’s website, Tavria V has been operating since 1992 and includes 135 supermarkets and shopping centers, meat and fish processing plants, confectioneries, culinary shops, bakeries, a brewery, garment and knitwear production, and a large logistics center. The chain employs 4,500 people.
According to Opendatabot, the ultimate beneficiaries of Tavria-V LLC are Boris and Mikhail Muzalev, with 60% and 40% of the company’s shares, respectively.
