Business news from Ukraine

Business news from Ukraine

UKRAINE RAISES OUTPUT OF ROLLED PRODUCTS BY 6%

Ukrainian metallurgical enterprises in January-August this year increased production of general rolled products, according to recent data, by 5.9% compared to the same period last year, to 12.999 million tonnes.
According to the Ukrmetalurgprom association on Thursday, over the eight months steel production increased by 6.7%, to 14.596 million tonnes, and cast iron – by 7%, to 14.503 million tonnes.
In August, 1.673 million tonnes of rolled products, 1.864 million tonnes of steel, and 1.852 million tonnes of cast iron were produced, while in the previous month – 1.723 million tonnes of rolled products, 1.876 million tonnes of steel, and 1.857 million tonnes of cast iron.

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AFGHAN ARMY DEFEATED BY TALIBAN DUE TO LACK OF IDEOLOGY – EXPERT

The Afghan authorities till the last did not believe in the withdrawal of the U.S. army from the country and considered all movements of American troops over the past six months to be military maneuvers, Mohammad Farajallah, an expert on the Near and Middle East, the editor-in-chief of the Ukraine in Arabic online portal, told the Experts Club YouTube channel.
“For some unknown reason, the Afghan leadership decided to reshuffle personnel in the army and appointed a person who had been undergoing long-term treatment in the UAE as the Minister of Defense,” the expert added.
Farajallah believes that due to these factors, the Afghan armed forces were in a deplorable state by the beginning of the large-scale offensive by the Taliban. In addition, according to the expert, the Afghan army is used to fighting according to the American model, and was not ready for the lack of massive air support and satellite intelligence.
“At the end of April, the U.S. military ceased serving Afghan aircraft and transmitting intelligence. They announced that they were beginning to withdraw their troops. The Afghan authorities, in turn, did not prepare (for the Taliban’s offensive) and did not understand the importance of the situation. Also, this situation damages the reputation of the CIA, which in its forecasts gave the Taliban at least six months to seize power,” the orientalist emphasized.
Another wrong decision of the Afghan authorities, according to the expert, was the concentration of military units in large cities. This led to the formation of a kind of besieged garrisons without supply lines, which rather quickly surrendered to the Taliban one after another.
The expert said the main factor behind the quick victory for the Taliban was the low morale of the Afghan army. The few pockets of resistance were brutally suppressed by the Taliban, but most of the army simply laid down their arms.
“The Taliban have worked with the heads of clans who have a huge impact on the local population, including soldiers of the Afghan army. When a tribal elder tells a local soldier to drop his weapon and go home, he has no choice but to obey, as tribal leaders have much more authority than inexperienced army commanders,” he noted.
Watch the first part of the program on the situation in Afghanistan here
You can subscribe to the Experts Club channel here.

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JOE BIDEN AT MEETING WITH ZELENSKY: PARTNERSHIP BETWEEN KYIV AND WASHINGTON WILL STRENGTHEN IN FUTURE

United States President Joe Biden, during a meeting with Ukrainian President Volodymyr Zelensky, said the partnership between Kyiv and Washington will strengthen in the future.
“I am pleased to welcome President Zelensky to the Oval Office in the White House. During the celebration of the 30th anniversary of Ukraine’s independence, the partnership between our countries is stronger than ever and will become even stronger,” Biden said during talks with Zelensky, the video of which made public by the Dom television channel in Telegram.
He also said that Ukraine and the United States have common values ​​and goals, in particular, regarding the provision of peace and stability in Europe.
“Ukraine and the United States have common values. We are unswervingly committed to our long-term goal for Europe: to make it whole, free and peaceful,” the U.S. President said.

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QATARI COMPANY LOOKING FOR PARTNERS IN UKRAINE TO PRODUCE ANIMAL FEED AND EGGS

Qatari entrepreneurs are seriously interested in investing in Ukraine, including one of the largest agricultural companies in the country, Hassad Food, which is looking for partners for the production of animal feed and eggs, the Ukrainian Chamber of Commerce and Industry (UCCI) reported on its website.
According to its data, representatives of the largest companies of Qatar arrived in Ukraine as part of a delegation to participate in the second meeting of the joint commission on economic, trade and technical cooperation between the governments of Ukraine and Qatar.
It is clarified that Ukrainian grain traders and animal feed manufacturers at a meeting with Hassad Food Executive Director Mubarak Al-Suhooti discussed prospects for cooperation.
“The international campaign Hassad Food Company invests in production in other countries. In Ukraine, in particular, they are looking for partners for the production of animal feed and eggs, so Ukrainian entrepreneurs presented their capabilities,” the UCCI said.
During the talks between President of the Ukrainian Chamber of Commerce and Industry Hennadiy Chizhikov and First Vice Chairman of the Qatar Chamber of Commerce and Industry H.E Ali bin Ahmed Al Kuwari, the latter said that Qatari entrepreneurs are considering Ukraine for investment.
Chizhikov stressed that the composition of the representatives of the Qatari delegation testifies to the serious investment interest of this country in Ukraine. He urged Ukrainian business to take advantage of trade opportunities.

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CONSUMER CONFIDENCE INDEX OF UKRAINIANS FALLS TO 71.3 POINTS IN JULY

Consumer Confidence Index (CCI) of Ukrainians, after rising by 1.7 points in June, decreased by 1.6 points in July – to 71.3 points on a 200-point scale, according to a study by Info Sapiens agency.
“Most components of the Consumer Confidence Index in July 2021 are stable and have not changed compared to June. However, there is a tendency to reduce the Index of Expected Changes in Personal Financial Standing, which may be associated with an increase in gas prices,” the agency’s website says.
According to the study, Index of the Current Situation (ICS) has increased and equals 68.2, which is 0.2 points higher than in June. Index of Current Personal Financial Standing equals 61.2, which is 0.2 points higher than the indicator in June. Index of Propensity to Consume increased by 0.2 point to the level 75.2 points.
In July, Index of Economic Expectations (ІЕE) equals 73.3, which is 2.9 points lower that the level of this indicator in June. Index of Expected Changes in Personal Financial Standing equals 75.3, which is 4.1 points lower than in June. Index of Expectations of the Country’s Economic Development over the Next Year equals 65.9 which is 0.9 points lower than the level of this indicator in June and Index of Expectations of the Country’s Economic Development over the Next 5 Years decreased by 3.6 points compared to last month and equals 78.8.
Info Sapiens indicates that the indicator of Index of Expectations of Changes in Unemployment has decreased by 1.2 points and equals 137.4 and Index of Inflationary Expectations increased by 3.8 points and equals 192.
Expectations of Ukrainians regarding the hryvnia’s exchange rate in the coming three months have improved: Index of Devaluation Expectations increased by 11.4 points and equals 139.4.

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SUGAR PRODUCTION IN UKRAINE WILL GROW BY 30%

Sugar production in Ukraine in the 2021/2022 marketing year (MY, September-August) is expected to reach 1.4 million tonnes, which is 30% more than in the previous MY, the total sugar supply in the country will be sufficient to meet domestic demand, according to the Ministry of Economy.
According to a report on the agency’s website, taking into account the growth in sugar production in the current MY and its significant residues (420,000 tonnes), which are transferred from the last MY, the total sugar supply this season will amount to 1.74 million tonnes. The Ministry of Economy specified that these volumes will be quite enough to meet domestic demand, which is approximately 1.25 million tonnes.
“At present, the sugar industry of Ukraine allows producing up to 2 million tonnes of beet sugar per year, which fully meets the country’s internal needs,” the ministry explains.
The Ministry of Economy recalled that in the 2020/2021 MY sugar production in Ukraine decreased by a quarter compared to 2019/2020 MY, to 1.1 million tonnes due to unfavorable weather conditions.
In the current MY, 33 enterprises of the industry intend to produce sugar, which corresponds to the data for 2020, the report says.
“There is a gradual decrease in sugar consumption by Ukrainians. If in 2008 the average Ukrainian consumed about 41 kg of sugar and sugar-containing products during the year, then in 2020 – 28.5 kg. Such a decrease is also associated with a change in food culture and a decrease in sugar consumption in related industries,” the Ministry of Economy summed up, citing data from the State Statistics Service.

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