President of Ukraine Volodymyr Zelenskyy announced the continuation next week of the “cleaning state institutions.”
“Next week will be a continuation of our work on cleaning state institutions of those who tried to drag from the past all those old habits, old schemes that weakened Ukraine for a very long time, for decades,” he said in a video address on Saturday.
“There will be no more old formats in our country – those formats when some defended the state and people, and others tried to put both the state and people at the service of their own benefit. No matter, who this person is – whether he is a ‘military commissar,’ whether he is a deputy, or whether he is an official – everyone must work only for the sake of the state. So be it,” he said.
Oil prices are moderately lower on Monday morning, holding near four-month highs on expectations of an imminent fuel shortage in the global market.
The price of October Brent futures on London’s ICE Futures exchange is at $86.15 a barrel by 8:15 a.m. Q1, down 9 cents (0.1%) from the previous session’s close. Last Friday, these contracts rose by $1.1 (1.3%) to $86.24 per barrel.
Quotes of futures for WTI crude oil for September at the electronic trading of the New York Mercantile Exchange (NYMEX) by the specified time decreased by 6 cents (0.07%) and amounted to $82.76 per barrel. At the end of the previous session they rose by $1.27 (1.6%) – to $82.82 per barrel.
Over the past week, Brent rose by 2.2%, WTI – by 2.8%, and both brands closed at their highs since April 12.
Saudi Arabia on Thursday announced the extension of an additional voluntary production cut of 1 million bpd for September. Thus, the country’s actual oil production level next month is expected to be 9 million bpd.
In addition, Russia will also continue to voluntarily cut supplies to external markets by 300,000 bpd in September, Deputy Prime Minister Alexander Novak said.
“We expect Brent to end the year near the $85 per barrel mark. Ultimately OPEC+ looks determined to limit supply. We also expect global oil demand to grow at a 2% annualized rate in the second half of 2023,” said Edward Gardner, commodity economist at Capital Economics.
Meanwhile, data from oilfield services company Baker Hughes showed that over the past week the number of active oil rigs in the U.S. fell by 4 units to 525.
Virtual monobank will keep the possibility of card-not-present transactions in only three countries in Africa: South Africa, Egypt and Morocco, the bank’s co-founder Oleg Gorokhovsky said.
“Due to the increased risk of fraud and to strengthen the fight against illegal gambling traffic, we are closing all card-not-present transactions in Africa, with the exception of South Africa, Egypt and Morocco,” he wrote in Telegram on Friday.
According to monobank on its website, it currently serves 7.439 million customers.
Prometey Group has received a EUR1.27 million loan from ULF-Finance LLC to purchase vehicles, the agricultural holding’s press service said.
“The company continues to expand its own vehicle fleet to minimize dependence on hired vehicles. In this way, we solve the problem of vehicle shortages during peak loads, such as during the harvest period, and avoid additional costs,” the press service quoted Maxim Voloshin, Prometey financial economist, as saying.
According to the report, Prometey Group plans to receive DAF tractors, Wielton trailers, cars and other automotive equipment from the financial institution.
In total, 23 agreements are in place between Prometey Group and ULF-Finance LLC.
Prometey Group provides storage, processing and logistics services for agricultural crops. Prior to the Russian aggression, it owned 34 elevators in Mykolaiv, Kirovohrad, Kyiv, Khmelnytskyi, Zaporizhzhia, Sumy, Odesa, Kherson, and Dnipro regions.
By the end of 2021, the group planned to generate $45 million in EBITDA, while in 2020 this figure reached $32.6 million, and in 2019 – $30.5 million.
“In 2023, Prometey plans to increase its land bank from 20 thousand hectares to 50 thousand hectares, and in the long term, to increase it to 100 thousand hectares.
Dynamics of reserves of Ukraine from 2012 to 2023
Source: Open4Business.com.ua and experts.news
The volume of industrial production in Germany in June decreased by 1.5% compared to the previous month, reported the Federal Statistical Office of the country (Destatis).
Experts surveyed by Trading Economics expected a decline of 0.5%.
In May, industrial production in Germany decreased by 0.1%.
The production of capital goods in June fell by 3.9%, consumer goods – increased by 1.8%, intermediate goods – increased by 0.4%.
Construction output fell 2.8% and electricity generation rose 0.6%.
German industrial production in June was 1.7% below the same month in 2022.
