The external debt of Ukraine added $ 2.5 billion

In the second quarter of 2020, Ukraine’s gross external debt increased by $ 2.5 billion and amounted to $ 122.8 billion, according to the National Bank.

In terms of GDP, debt increased to 78.8% from 75.1% at the end of the first quarter. At the beginning of the year the figure was 78.6%.

“External debt increased due to an increase in external liabilities of the public sector by $ 1.4 billion to $ 52.9 billion (33.9% of GDP) and the private sector by $ 1.1 billion to $ 69.9 billion (44.8 % of GDP) “, – the report says.

According to the geographical structure of indebtedness of the real sector on unsecured loans (together with intercompany debt), the main creditor country remains Cyprus (48.7% of the total). It is followed by the United Kingdom (13.9%), the Netherlands (5.1%), the Virgin Islands (3.3%), and Russia (2.6%).

The liabilities of the government and the NBU, which are to be repaid in the next 12 months, decreased by $ 1.2 billion (to $ 4.5 billion) mainly due to future payments on IGLBs (by $ 1 billion).

Future liabilities of the banking sector increased by $ 35 million to $ 2.5 billion. External liabilities of the real sector for the next 12 months remained at the first quarter and amounted to $ 38.4 billion.

It is worth noting that since the beginning of the year the figure has grown by $ 1.1 billion.

According to the schedule of planned payments on external debt, in the third quarter of 2020 Ukraine plans to pay $ 6.2 billion.

The National Bank spent $ 71 million to support the hryvnia

On September 14-18, the National Bank sold $ 71 million in currency on the interbank foreign exchange market.

At the same time, the National Bank did not buy foreign currency in its international reserves during the reporting week. Therefore, the National Bank for the first time in the late July sold the currency on the interbank market to support the hryvnia.

Since the beginning of the year, the NBU has bought $ 4509.4 million worth of foreign currency on the interbank market and sold it for $ 3362.8 million. Net purchase of foreign currency by the National Bank since the beginning of the year was $ 1217.6 million.

Business took eight billion of the available loans

Ukrainian banks have already issued UAH 8 billion in available loans under the “5-7-9” program. This was announced by Finance Minister Serhiy Marchenko on the talk show “Freedom of Speech of Savik Shuster”.

“Today, 80 coins from the hryvnia loans are provided under the program of ” 5-7-9 “. UAH 8 billion and 3,000 loans have already been provided to small and medium-sized businesses under this program. This program will be continued to the next year. We are talking about providing portfolio guarantees of 10 billion. This will increase the loan portfolio to 20 billion. Yes, of course, this is the start, this is the beginning. We are ready to expand these programs more, “the minister said.

Trump does not like the terms of the TikTok agreement with Oracle

US President Donald Trump has expressed dissatisfaction with the fact that under the terms of the agreement between ByteDance and Oracle, the Chinese company will retain a majority stake in the TikTok service, and Oracle will have a minority stake. This Trump said during the press briefing at the White House.

Responding to the question from one of the journalists how he felt about ByteDance retaining a majority stake in TikTok, the president said: “We don’t like it. Hypothetically I can tell you that I do not like it. I have not been informed about it yet. It was reported, but I was not personally informed … If it is true, I’m not happy about it, assuming that ByteDance is China, and that may be the case, I think. ”

The President noted that he was not ready to sign any agreements. “There must be a 100 percent security guarantee in terms of national security … We need security, especially after what we have seen in connection with China and what is happening. We need the security, “- said the president.

Meanwhile, the terms of the agreement between of ByteDance and TikTok are being considered by the US Foreign Investment Committee (CFIUS), which will present its decision soon.

The Ministry of Justice won the lawsuit over the sale of Prominvestbank

The Kyiv Court of Appeal denied to Russia’s Vnesheconombank (VEB) in recognition of the decision of the arbitrator of the Arbitration Institute of the Stockholm Chamber of Commerce, which, at the request of VEB, the Ministry of Justice of Ukraine was obliged to stop the forced sale of 99.77% of Prominvestbank shares.

The court agreed with the Ministry of Justice’s argument, that the decision of the arbitrator was made by the dispute, which does not fall under the terms of the arbitration agreement, which means that “the arbitrator did not have jurisdiction to rule against Ukraine in this case.”

The court also stressed that “the state of Ukraine was deprived of the opportunity to state its position in detail in the case for reasons beyond its control.” Herewith recognition and execution of the arbitrator’s decision contradicts the public order of Ukraine.

The losses of Ukrainian farmers due to the drought were estimated at 118 billion

Ukrainian farmers may lose up to 118 billion hryvnias this year due to drought and frost. This was reported by the press service of the Agrarian Union of Ukraine.

“This year, even the critically affected regions (Odessa, Mykolaiv, Kherson, Zaporizhia regions), despite the promises of the state, did not receive a single penny of assistance,” – said the head of the union Gennady Novikov.

Corn crops suffered the most from the weather – its yield this year is 40% lower than previous year.

IPO Snowflake may become one of the most popular in 2020

IPO Snowflake, which will take place on the NYSE, will be held at the higher price than announced in early September.

On Monday, according to SEC applications, Snowflake, a company that makes storage software, raised its projected stock price to $ 100- $ 110, while the market valuation of the company could grow to $ 27.7 billion. – $ 30.5 billion. The initial estimate of the share price was: $ 75 – $ 85, which would estimate the company at $ 20.9 billion – $ 23.7 billion.

IPO Snowflake may become one of the most popular in 2020 because the growth of the field of cloud computing and the field of data processing and. Snowflake’s IPO also received the high publicity due to interest from companies such as Berkshire Hathaway and Salesforce Ventures, who agreed to buy shares of the technology startup for $ 250 million at the IPO price as part of a simultaneous private offering. In the middle of the new valuation range, Berkshire Hathaway’s total stake in Snowflake after the IPO will be estimated at $ 674.4 million.

According to the company’s press releases, Snowflake last raised nearly $ 479 million in February 2020, valuing the company at $ 12.4 billion. Overall, since its inception in 2012, Snowflake attracted funding worth about $ 1.4 billion.

Snowflake offers companies new ways to store and access data in the cloud, instead of relying on a database linked to the equipment. By July 31, Snowflake’s customers had reached 3,117, with more than 100 Fortune 500 companies (the 500 largest U.S. corporations by revenue). Among the clients Snowflake – Adobe, Logitech, DocuSign and Square.

Snowflake’s business is growing rapidly: revenue in the first half of 2020 more than doubled to $ 242 million from $ 104 million a year earlier. However, the company is unprofitable, the amount of losses for the last fiscal year was $ 178 million.

However, the field of the cloud computing and data processing and storage, in which Snowflake operates, is growing rapidly against the background of the mass transition of the global companies to remote work of employees, promising greater profits in the future.

Snowflake estimates its potential market at $ 81 billion. According to the research company International Data Corporation, by the end of 2020 the volume of the data management market will be $ 56 billion, and by the end of 2023 – $ 84 billion.

According to Markets and Markets, the global cloud computing market will grow from $ 371.4 billion in 2020 to $ 832.1 billion in 2025, or 124%. The average annual growth rate may be about 17.5%.

At the same time, some analysts point to the inflated price of the IPO and not the best time for listing. The largest technology index NASDAQ experienced a significant decline last week, although on Monday partially recovered losses, increasing by 1.87%.

Visa and Vsi. Svoi have launched “Her business”, a contest to support Ukrainian women entrepreneurs

  • The professional jury will select three winners who will receive UAH 100,000 for the development of their own businesses.
  • The first-place winner will present products in her own “corner” in one of the two Vsi. Svoi stores on Khreshchatyk.
  • All three winners will present their products at the online platform vsisvoi.ua and will receive mentor sessions on business skills development.

Visa and Vsi. Svoi, the platform presenting Ukrainian local brands have launched a new project, an open contest for women entrepreneurs “Her business – WhereYouShopMatters”. The organizers of the competition aim to inspire and support those Ukrainian women who have recently started their own business in goods manufacturing, and give them an opportunity to scale their businesses.

Visa and Vsi. Svoi make an open call to women from all over Ukraine, who own micro-, small and medium enterprises and manufacture clothes, shoes, accessories or goods for home and interior.

The contest will also contribute to new names and brands discovering among manufacturers and promote the development of women’s entrepreneurship in Ukraine. The project is a part of Visa’s global campaign to support small and medium-sized businesses entitled #WhereYouShopMatters. The media partner of the contest is ELLE Ukraine.

The first-place winner will become a resident of Vsi. Svoi and present the products of her brand in one of the two Vsi. Svoi stores on Khreshchatyk street in Kyiv. Also, all three winners will be able to place their products at the online platform vsisvoi.ua.

Each of the three winners will receive a cash prize of UAH 100,000 to grow their businesses and additionally they will have personal mentoring sessions to develop business skills.

ELLE media will hold photo sessions with the winners and share stories about them and their businesses in the print edition of the magazine and elle.ua.

To participate in the contest, a potential participant must apply at nextsvoi.com.ua from September 16 to October 5. All applicants need to fill out an application form, download 3-5 images of their products as well as a short video about their brands.

The selection committee of the contest, which includes representatives of the Vsi. Svoi platform, will form a shortlist of 20 applicants.  The three winners will be selected by the professional jury of the contest, which include:

  • Sonya Zabuga, editor-in-chief of ELLE Ukraine.
  • Khrystyna Karmazina, Head of e-business unit of PrivatBank.
  • Hanna Lukovkina, founder of the platform of Ukrainian brands Vsi. Svoi.
  • Lilia Pustovit, Ukrainian designer, founder of POUSTOVIT brand.
  • Svitlana Chyrva, Visa Country Manager in Ukraine, Belarus, and Moldova.

“Support and development of small and medium businesses, as well as the promotion of local brands, are both Visa’s key priorities. Unfortunately, the consequences of the COVID-19 pandemic have had a negative impact on the activities of this particular business segment, according to our survey. Another important direction for us is a development of women’s entrepreneurship. Our team has just completed a two-month series of educational webinars engaging women who want to start their own businesses. And now we are launching a new contest, which literally gives women-entrepreneurs an opportunity to reach a new national level by becoming residents of Vsi. Svoi, winning cash prizes, receiving business mentorship and communication support.

We are glad to join efforts with strong partners in this contest, and the jury includes real women leaders in their fields. Successful development of the country’s economy is impossible without a successful development of local manufacturers, so I am calling Ukrainian women to participate in the contest. The bright examples of women’s entrepreneurship are always inspiring and deserving of recognition. The impact of the pandemic should not limit their businesses growth, but should help to find opportunities for adaptation, digitalization and progress”, – Svitlana Chyrva, Visa Country Manager in Ukraine, Belarus, and Moldova stated.

“This is not our first cooperation with Visa, aimed at supporting Ukrainian manufacturers, and I am sincerely glad that different businesses can unite for an important purpose. This is especially clear today when the pandemic has threatened the development of those who are just starting out. “Her business” is a contest for Ukrainian businesswomen who have recently started their activities. I believe in the power of women’s entrepreneurship and such an example is our project – Vsi. Svoi. I see how incredibly great this power. Our project unites 2000+ creative businesses, and about 80% of them have been founded by women. We want to support them on their way to “big business” to see even more creative enterprises created by women in Ukraine”, – the founder of the project Vsi. Svoi Hanna Lukovkina commented.

Please follow the link to participate in the contest and get more details: nextsvoi.com.ua

Microsoft will build two large data centers in New Zealand

The American corporation Microsoft has received permission from the New Zealand Department of Foreign Investment to build data centers in Auckland. This is stated in a statement issued by the agency on Wednesday.

“New Zealand subsidiaries of Microsoft Corporation received management’s approval of foreign investments to purchase business assets, including various land, to further creation of data centers in New Zealand,” – the report says.

According to The New Zealand Herald, Microsoft plans to open two large data centers in Auckland by the end of 2022. It is expected that the total cost of the project will exceed 100 million New Zealand dollars ($ 67,600,000).

The global M&A market in 2020 is approaching to $ 2 trillion

According to the Investor`s news, in 2020, the volume of transactions worldwide mergers and acquisitions (M & A) totaled $ 1.97 trillion.

The publication noted that major transactions between IT-companies account for almost one fifth of the total.

According to the global data provider and stock market infrastructure Refinitiv, the volume of the deals of technology companies is 17.8% of the total, or $ 351.4 billion. This level is now the highest since the dotcom boom of 2000.

The leadership of the IT sector in the M&A market shows the significant impact of the coronavirus crisis – mass transition of all those who found themselves in isolation to online platforms for shopping, work, study, medical consultations and communication. This is likely to contribute to the fact that some of these changes may become permanent.

In second place – financial companies with transactions amounting to $ 283.8 billion, or 14% of total.

Amenably to analytical data by region, the volume of M&A with US companies in the first half of 2020 fell by 69% to $ 355 billion, which is the lowest since 2012.

At the same time, M&A deals involving European companies grew by 37% to $ 420 billion.

At the same time, in Asia there is more moderate dynamics: in Japan, total M&A increased by 3% compared to the first half of last year, and in the rest of the Asia-Pacific region, it fell by 8% to $ 311 billion (the lowest since 2013).

According to Refinitiv, the total volume of transactions announced in 2020 is now $ 1.97 trillion. This exceeds the volume of transactions for the same period after the financial crisis of 2008, which amounted to $ 1.26 trillion in 2009 and $ 1.6 trillion in 2010.

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