Business news from Ukraine

UKRAINIAN WINE MANUFACTURER SHABO OPENS THIRD BRAND STORE IN CHINA

Shabo, a large Ukrainian wine manufacturer (Odesa region) on July 28 opened its third brand store in China, Fuzhou, the previous two working in Guangzhou and Xi’an.
According to the company’s website, the official store opened at the end of the previous month became the largest of the three stores. Shabo has been exporting its products to China since 2013. The first brand store was opened here two years ago.
“This is the third Shabo store with the products represented in China under the Master Tardan trademark, the previous two are successfully operating in Guangzhou and Xi’an,” the company said.
The new store in China has 240 square meters of stands with products, a wine storage, a tasting room, and office premises.
“This is the third store we’ve opened in three years and we plan to move forward at the same pace. I believe that by 2021 the Shabo brand store will open its doors to Shanghai residents as well,” Stanyslav Kobyletsky, the company’s export director, said.
The company noted that Shabo products are now exported to 18 countries of the world.
Shabo was established in 2003. The company is engaged in growing and processing grapes, production, and sales of alcohol products.
The company has been producing cognacs and brandy since 2005, and Shabo grape vodka since 2013. The manufacturing capacity of the complex, occupying more than 10,000 square meters, provides a full cycle of production of strong alcoholic drinks of grape origin.
The range of Shabo products is presented in all regions of Ukraine, as well as in Georgia, Israel, China, Poland, Latvia, Estonia, Belgium, France, Denmark, the Czech Republic, the United States, Brazil, Canada, Azerbaijan, Japan, Norway, and the United Kingdom.
The company owns processing capacities for the season amounting to more than 20,000 tonnes of red and white grapes. The Shabo vineyard covers a total area of about 10,000 square meters. Shabo produces 50 million bottles a year, with a total of about 80 items of products. Bottling is performed at nine filling lines.
Based on the state register of legal entities and individual entrepreneurs, the ultimate beneficiary of Shabo Industrial-Trade Company LLC is Eldar Iukuridze, Agrofirma Shabo LLC (both in Odesa region, the village of Shabo) Eldar Iukuridze and Bela Cholikidze.

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OPEN LADIES GOLF TOUR TOOK PLACE IN KHARKIV

The third stage of the Open Ladies Golf Tour, which was held with the support of the Ukrainian Golf Federation in the Kharkiv Golf Club Superior, has ended.
Beautiful ladies, in red and white colors of a golf uniform, conquered the golf course, making graceful hits with drivers, woods, pats.
Every time the women’s tournament is a holiday, women just like men play real golf, but they do it in a special way. On Saturday, 22 beginners joined the golfers at the Golf School. Each lady took the first blows under the supervision of professional coaches, and in the end, the beginners competed in a mini-tournament.
The winners and prize-winners of the third stage were: 1st place (handicap 0-36) Kolobova Lyudmila, 2nd place (handicap 0-36) Movchan Elena, 3rd place (handicap 0-36) Tatiana Romanyuk. With handicaps (36-54) 1st place was taken by Elena Pugovkina, 2nd place – Skorubsky Daria and 3rd place – Maleeva Christina.
“Thanks to such tournaments and many innovations from the Ukrainian Golf Federation, the number and ratio of women in Ukrainian golf has tripled. This is an excellent result, which indicates the correct strategy for the development of golf in Ukraine, in particular for women.” – comments Elena Rudik, Member of the Board Golf Federation and Director of the Open Ladies Golf Tour.
From the first minute of the tournament to the last, it was a holiday. A special atmosphere, lots of flowers, gifts, and music. We remind you that very soon, on September 5 at the GolfStream Golf Club, the Open Ladies Golf Tour Final will take place, which is officially listed in the EGA (European Golf Association) calendar.

Interfax-Ukraine – media partner of the event

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VOLUME OF PRIVATE REMITTANCES TO UKRAINE 8.5% DOWN IN JUNE

The volume of remittances of labor migrants to Ukraine in June 2020 amounted to $856 million, which is 8.5% less than in June 2019, and 13.9% less than in the pre-quarantine February 2020, according to data on the website of the National Bank of Ukraine (NBU).
According to the report, in the first half of 2020, the volume of private money transfers to the country decreased by 3.8%, to $5.36 billion against the same period last year ($5.58 billion).
According to the NBU, in general, in the first six months of 2020, some $2.16 billion (40.2% of the total number of transfers) was transferred to Ukraine through correspondent accounts of banks, $2.02 billion (37.6%) through informal channels and $1.19 billion (22.1%) through international payment systems.
As reported, the volume of remittances of labor migrants to Ukraine in January amounted to $991 million, in February $994 million, in March $925 million, in April $794 million and in May $805 million.
In general, in 2019, labor migrants transferred $12 billion to Ukraine, according to data from the central bank.

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UKRZALIZNYTSIA TO COOPERATE WITH GERMAN LOGISTICS COMPANY HAMBURGER HAFEN UND LOGISTIK

JSC Ukrzaliznytsia (Kyiv) will cooperate with German logistics company Hamburger Hafen und Logistik AG (HHLA) on the development of intermodal railway transportation in Ukraine, and in future in the Baltics and Eastern Europe.
Infrastructure Minister of Ukraine Vladyslav Krykliy said on his Facebook page on Thursday that the companies have signed a memorandum of understanding on Thursday.
According to the minister, in the near future the German and Ukrainian carriers will have to agree on an action plan to determine and implement measures aimed at the improvement of services quality within the parties’ obligations, carry out regular monitoring, as well as eliminate problems.
The companies will also determine measures for improvement of the working capacity of the Odesa-Port rail station and the railway infrastructure with the aim of increasing cargo turnover in the port, take measures to improve effectiveness of commercialization of intermodal trains and agree on tariffs in line with international practices.
“In the long-term perspective they will have to decide on demand for rolling stock to provide intermodal transport services, reasonability of the use of light multisystem locomotives and determine the main requirements for location, financing and operation of terminals based on their growth,” Krykliy said.

SWEDEN COMPANY PLANS TO CONDUCT SQUEEZE-OUT AMONG MINORITY SHAREHOLDERS OF UKRAINA DEPARTMENT STORE

The main shareholder of PrJSC Ukraina Department Store, the manager of the shopping and entertainment center of the same name located at 3, Peremohy Square in Kyiv, Sweden’s Quinn Holdings Sweden AB, seeks to conduct a squeeze-out among minority shareholders of the company.
PrJSC Ukraina Department Store reported in the information disclosure system of the National Securities and Stock Market Commission of Ukraine, the company received the irrevocable proposal on July 27.
According to the report, Quinn Holdings Sweden AB, together with affiliated persons, owns 122.985 million common registered shares of the PrJSC, which is 98.372% of the total number of its shares. The ultimate beneficiary is the Irish state bank IBRC.
As reported, in connection with the bankruptcy of the owner of the Quinn group, control over its foreign assets, including Ukraina Department Store, passed to the managers appointed at the request of the Irish bank IBRC.

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