Business news from Ukraine

Market overview of best wardrobe systems

In today’s world, space organization is becoming an increasingly important topic. In particular, this applies to storing clothes and other items in wardrobe systems. In this article, we’ll look at the main advantages of such systems and compare them with other popular options.

A wardrobe system is a structure consisting of shelves, drawers, baskets, rails, and cabinets designed to store clothes, shoes, bedding, and other items. Its main advantage is the ability to create an individual configuration according to the user’s needs. Such a system can be placed on a wall, in a corner, niche or occupy half of the room, which provides maximum flexibility in the use of space.

Wardrobe systems have many advantages:

Versatility: Wardrobe systems can be easily installed both in living spaces and in specially designated rooms. They are ideal for rooms of non-standard geometry, allowing you to effectively use every square meter.
Strength and durability: Modern wardrobe systems such as AMS are made of high quality materials, which ensures their great strength and long service life. They are resistant to stress and can withstand a large number of items.
Easy installation and dismantling: One of the key advantages of wardrobe systems is their ease of installation and dismantling. This is especially convenient for those who move frequently or like to change the interior.
A variety of installation options: Wardrobe systems are suitable for both straight and corner installation. This allows you to effectively use even the smallest corners of the room, providing maximum functionality.
Additional options: In addition to the main purpose, wardrobe systems can be used to organize storage in pantries, basements and other auxiliary rooms.

There are different types of wardrobe systems on the market, each of which has its own characteristics:

Cabinet systems: These systems resemble a set of cabinets with or without doors. They have back walls, top, bottom and side partitions that divide the wardrobe into compartments of different sizes. Case systems are usually made to order and require quite a bit of space. They are stable and reliable, but difficult to modify.

Mesh systems: Grid systems are lighter and less visible. They allow for easy reconfiguration and the addition of new elements. However, these systems can be less durable and expensive compared to other options.

Modular systems: Modular systems like AMS offer the best flexibility and functionality. They consist of individual modules that can be combined according to needs. This allows for both simple and complex configurations.

The AMS wardrobe system by VDM is an excellent choice for those looking for a versatile, durable and functional solution for organizing space. Its advantages include ease of installation, strength, durability and flexibility in use. Whether you need a system for storing clothes in the bedroom, organizing space in the pantry or efficiently using non-standard rooms, AMS will become a reliable and convenient assistant.

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Financial results of week – Ukrainian currency fell to new low

The National Bank of Ukraine (NBU), after strengthening the official exchange rate of the national currency by 4 kopecks on Thursday, on Friday lowered it by 7 kopecks to a new historical low of 41.4912 UAH/$1.

According to Taras Lisovyi, head of the treasury department of Globus Bank, trading on the interbank foreign exchange market started at 41.50/41.70 UAH/$1, by mid-day the rate strengthened to 41.48/41.51 UAH/$1, and by the end of the trading session it slightly weakened to 41.4950/41.5050 UAH/$1.

“What has been happening in the foreign exchange market over the past two weeks is a logical and objective consequence of rising inflation due to rising electricity tariffs and unprecedented power outages (…),” the banker said.

The volume of deals in the Bloomberg system amounted to $292.42 million. The National Bank set the reference rate at 12:00 on Friday at 41.4944 UAH/$1, compared to 41.4166 UAH/$1 a day earlier. The dollar on the cash market on Friday also rose by about 5 kopecks by mid-afternoon, but at 1 a.m. it fell by the same amount, then rose slightly again: buying – to 41.83 UAH/$1, selling – to $41.93 UAH/$1.

Since the beginning of 2024, the dollar has appreciated by 9.2%, or UAH 3.49, at the official exchange rate, and by 13.4%, or UAH 4.93, since the National Bank switched to managed flexibility on October 3, 2023. Since the beginning of July, the official hryvnia exchange rate has fallen by 2.6%, or UAH 1.04, while in June its decline slowed to 3 kopecks after weakening by 90 kopecks in May.

The NBU attributed the current weakening of the hryvnia to the expansion of net demand over the past two months, driven by increased budget spending, much of which materializes in demand for foreign currency, the May currency liberalization, and a temporary decrease in the supply of foreign currency by the agricultural sector. The NBU explained the latter factor by the exhaustion of last year’s harvest and the fact that, at the request of the Cabinet of Ministers, it extended the deadline for the return of agricultural export earnings to 120 days, which had previously been reduced from 180 to 90 days.

At the same time, the NBU emphasized that there are all the prerequisites for ensuring the stability of the foreign exchange market.

“Soon, foreign currency from the sale of the new harvest will begin to arrive, and the functioning of the sea corridor creates opportunities for active exports of other commodity groups. Also, international aid from our partners will soon become more active: while in the first half of the year Ukraine received about $14 billion, the forecast for the second half of the year is $24 billion,” the NBU said.

In particular, this month the central bank expects to receive $3.9 billion from the United States. “Accordingly, international reserves will again exceed $40 billion,” the central bank said.

As reported, the National Bank’s net sale of dollars in the second week of July decreased to $532.1 million from $630.91 million in the previous week. In June, it amounted to $2.99 billion compared to $3.07 billion in May.

Turkey’s Dalgakiran Kompresör has invested UAH 400 mln in plant near Kyiv

The Turkish company Dalgakiran Kompresör has invested UAH 400 million in the launch of a plant for the production of industrial power equipment in Bilohorodka (Kyiv region), according to a press release from Dalgakiran Compressor Ukraine LLC.
The construction project was started before the start of Russia’s large-scale aggression, and now, thanks to investments from the Turkish side, it has been completed. The investment in the production site and office will create 50 new jobs.
The office and new production facility in Ukraine will contribute to the development of enterprises in all industries, enabling them to continue their business activities, save money and resources,” said Vyacheslav Dinkov, director of Dalgakiran Compressor Ukraine, as quoted by the press service.
According to him, the plans include further development and localization of production, development and supply of new equipment to restore energy and industrial production in Ukraine.
In turn, Dalgakiran Kompresör Chairman of the Board Adnan Dalgakiran noted that scaling up business in Ukraine is a contribution to supporting the country’s economy and energy sector in difficult times. “In the face of a power outage, our equipment can ensure the continuity of business processes and production, enable businesses to continue to operate, pay taxes and provide jobs to Ukrainians,” he said.
“Dalgakiran Compressor Ukraine is a representative office of the Turkish Dalgakiran company specializing in the production and maintenance of generator and compressor equipment, cooling systems and industrial pumps.
The Ukrainian representative office sells the equipment and improves it to meet the needs of national consumers. Azov equipment is manufactured in Turkey, where a full cycle of quality control has been introduced and the company has its own design office.
The company has been operating in Ukraine for 19 years. It has representative offices in 11 cities and more than 70 of its own mobile service teams.

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Lviv-based Cardboard and Paper Company maintains slight decline in production

Lviv-based Cardboard and Paper Company LLC, a major Ukrainian producer of cardboard tubes, produced products worth UAH 602.8 million in January-June 2024, down 5.6% from the same period in 2023.
According to UkrPapir Association statistics provided to Interfax-Ukraine, the company reduced its output of cardboard products by almost 12% in physical terms, to 11.6 thousand tons, while it increased its production of paper base for sanitary products by 21%, to 4.3 thousand tons.
Production of toilet paper in rolls decreased by 11.3% to 2.5 million units.
LLC Cardboard and Paper Company produces products and semi-finished products from waste cardboard (cardboard sheets, corners, sleeves), cellulose and recycled waste paper (toilet paper, towels, napkins under Papero brand).
The company supplies its products, in particular, to the EU countries.
Among its customers are Biosphere, Arterium, Nestle, Khlibprom, Yarych confectionery, and Galychyna dairy company.
As reported, in 2023, the company increased its production by 7% compared to 2022, to UAH 1.27 billion.

2022-2024 goods trade balance forecast (USD billion)

2022-2024 goods trade balance forecast (USD billion)

Source: Open4Business.com.ua and experts.news

Agrarians harvested 15.7 mln tons of crops in 2024

Farmers in all regions of Ukraine have already harvested 15.7 million tons of new crops from 4.403 million hectares, the press service of the Ministry of Agrarian Policy and Food reported on Friday.
According to the press service, 10.3 million tons of wheat were harvested from 2.626 million hectares at a yield of 39.4 c/ha, 3.1 million tons of barley from 824.2 thousand hectares at a yield of 37.4 c/ha, 319.3 thousand tons of peas from 154.7 thousand hectares at a yield of 20.6 c/ha.
Ukraine also continues to harvest oilseeds. In particular, 1.8 mln tons of rapeseed have been harvested from 779.1 thou hectares with a yield of 23.5 c/ha and 0.3 thou tons of soybeans from 0.2 thou hectares with a yield of 19.3 c/ha.
Farmers of Kherson region started harvesting millet, which was harvested in the amount of 80 tons from 50 hectares.
At the same time, the TOP-3 in terms of grain harvesting rates includes farmers of Odesa region – 629.4 thou hectares, Dnipropetrovska – 544.2 thou hectares, Mykolaivska – 527.5 thou hectares. Ivano-Frankivsk region is the leader in terms of yield with 65.1 c/ha.

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