Business news from Ukraine

Negative balance of Ukraine’s foreign trade in goods in January-May reached $10.7 billion

The negative balance of Ukraine’s foreign trade in goods in January-May 2024 increased 1.2 times compared to the same period of 2023 – to $10.716 billion from $8.882 billion, the State Statistics Service (Gosstat) said on Monday.

According to its data, exports of goods from Ukraine for the period increased by 1.7% to $16.832 billion compared to January-May 2023, while imports increased by 8.3% to $27.548 billion.

State Statistics Committee specified that in May compared to April this year, seasonally adjusted exports decreased by 1.3% to $3.442bn, while imports decreased by 3.9% to $6.089bn.

The seasonally adjusted foreign trade balance in May-2024 was negative at $2.647bn, while in the previous month it was also negative at $2.850bn.

The export-import coverage ratio for the first five months of 2024 amounted to 0.61 (0.65 in January-May 2023).

State Statistics specified that foreign trade operations were conducted with partners from 220 countries.

Earlier, the analytical center Experts Club and Maxim Urakin released a video analysis of how the GDP of the world’s countries has changed in recent years, more detailed video analysis is available here – https://youtu.be/w5fF_GYyrIc?si=BsZmIUERHSBJrO_3.

 

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Ministry of Education and Science of Ukraine starts selection process of candidates for post of education ombudsman

The Ministry of Education and Science of Ukraine starts the process of selecting candidates for the position of educational ombudsman.

“Educational Ombudsman is an important position in the system of protection of rights in the field of education. Its main task is to ensure the rights and freedoms of a person and a citizen in the field of education,” the ministry said in a statement.

Candidates for the post of educational ombudsman must have citizenship of Ukraine, higher education, work experience in the field of education or science for at least 5 years, reside in Ukraine for the last 5 years, fluent in the state language.

“Please note that the educational ombudsman can not be a person who has a criminal record, limited in capacity or recognized as incapable by a court decision. In addition, this position is incompatible with other types of paid activities, except for teaching, scientific and creative”, – added in the department.

According to the message, the documents will be accepted until July 28, they can be submitted in person or sent by mail to the Ministry at the address: Beresteisky Avenue, 10, comp. 136, 138, Kyiv 01135.

“MES invites to join the competition specialists who have extensive experience in the field of education and are ready to actively protect the rights of all participants of the educational process”, – summarized in the Ministry of Education.

In this regard, Minister of Education and Science Oksen Lisovy thanked the current educational ombudsman Serhiy Gorbachev for his work in the post for the last five years.

As reported, the Director of Kyiv specialized school № 148 Serhiy Gorbachev was appointed to the post of educational ombudsman in August 2019. He became the first educational ombudsman in Ukraine.

In June 2018, the Cabinet of Ministers approved the establishment of the educational ombudsman service from January 1, 2019.

 

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Ukraine sells the Ukraina Hotel

The auction for the sale in the system “Prosorro.Sales” of a single property complex of the state enterprise “Hotel “Ukraine” will be held on September 18, and 100% stake in JSC “United Mining and Chemical Company” (UGCC) – on October 9 of that year, the relevant dates determined the State Property Fund on Monday.

“Both auctions will be held in electronic format in the system “Prosorro.Sales” with the conditions approved by the Cabinet of Ministers on July 12, 2024. The maximum possible term for the auction has been set for OGCC, which allows potential buyers, including foreign ones, to conduct a full-fledged independent due diligence (Due Diligence) of the enterprise,” the privatization agency noted in a press release.

The starting price for the sale of the capital’s Hotel Ukraina is set at UAH 1 billion 47.637 million, while the price for OGCC is set at UAH 3 billion 899.358 million.

Ukraine in January-June reduced imports of lead by 4%

Ukrainian enterprises, according to the customs authorities, in January-June this year reduced imports of lead and lead products by 3.9% – to $560 thousand (in June – $137 thousand).
Exports of lead and lead products decreased by 30.8% over the reporting period – to $5.404 million (in June – $1.070 million),
The main use of lead is in the production of lead-acid batteries for the automotive industry. In addition, lead is used to make bullets and some alloys.

 

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Ukraine increased nickel imports by 68% in January-June

In January-June 2024, Ukraine increased imports of nickel and products by 68.3% compared to the same period in 2023 – up to $12.954 million (in June – $1.880 million),
In 2023, Ukraine decreased imports of nickel and products by 74.2% compared to 2022, to $15.391 million.
In 2023, exports of nickel and products amounted to $532 thousand, while in 2022 they amounted to $1,268 million.
Nickel is used to make stainless steel and for nickel plating. Nickel is also used in the production of batteries, in powder metallurgy and in chemicals.

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“Darnitsa” to open representative office in Uzbekistan

PrJSC “Pharmaceutical Firm “Darnitsa” will establish a representative office in Uzbekistan, the company reported in the information disclosure system of the National Securities and Stock Market Commission (NSSMC).

It is specified that, according to the decision of the Supervisory Board of Darnitsa adopted on July 12, the representative office will be established “in connection with the constant development”.

As reported, in 2023, Darnitsa increased its share of exports to 4%. The company exports its products to 17 countries. In particular, thanks to the confirmation of the stability of medicines in the southern climate zone and compliance in Australia, the company can expand cooperation with New Zealand, Malaysia, Yemen and South Africa. At the same time, in 2016, Darnitsa stopped exporting to the Russian Federation, and after February 24, 2022, to Belarus.

In June 2023, Darnitsa registered one of its medicines in Australia, which, according to the company, is known for some of the strictest regulatory rules in the world.

In 2023, the company increased its net income from operating activities by 32.8% compared to 2022 to UAH 6.969 billion. The company named new products and higher selling prices as the main factors of the increase in revenue.

“Darnitsa” is the leader of the Ukrainian pharmaceutical market in physical terms. The company has been present on the market for over 90 years and produces medicines of 180 brands in 15 different forms. The strategic areas of development of the portfolio are cardiology, neurology, and pain management. According to the Unified State Register of Legal Entities and Individual Entrepreneurs, the ultimate beneficiary of the company is Hlib Zagoriy.

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