Business news from Ukraine

Business news from Ukraine

Canadian Prime Minister dissolves parliament and calls for elections

Canadian Prime Minister Mark Carney announced the dissolution of parliament on Sunday and new elections on April 28.

“I have just asked the Governor General to dissolve parliament and call a federal election on April 28,” he wrote on social media site X.

“We must build the strongest economy in the G7. We must deal with President Trump’s tariffs. Canadians deserve a choice about who should lead these efforts for our country,” the prime minister emphasized.

Earlier, Experts Club and Maksim Urakin released a video analysis on the most important elections in the world in 2025 – https://youtu.be/u1NMbFCCRx0?si=AOtHGDT1kGNdZd2g

 

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Ukraine increased copper imports by 4% in January-February 2025

In January-February 2025, Ukrainian companies increased imports of copper and copper products by 4% compared to the same period of 2024 – up to $30.277 million.

According to customs statistics, copper exports increased by 31.3% to $14.305 million in the period under review. In February, copper was imported for $16.462 million and exported for $7.354 million.

Copper is widely used in electrical engineering, pipe manufacturing, alloys, medicine and other industries.

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Ukraine increased spring grain plantings by 16.7%

As of March 20, Ukraine sowed 250.4 thousand hectares of spring grains and legumes in 19 regions, up 16.7% year-on-year, the press service of the Ministry of Agrarian Policy and Food reported on Friday.

According to the report, 36.7 thousand hectares were planted with wheat (12.9 thousand hectares a week earlier), 133.5 thousand hectares with barley (45.2 thousand hectares), 57 thousand hectares with peas (17.8 thousand hectares), and 16.9 thousand hectares with oats (7.2 thousand hectares).

Last week, Ukrainian farmers sowed grains and pulses on 167.4 thou hectares.

According to the Ministry of Agrarian Policy, the leading regions in terms of sowing are Mykolaiv, which sowed spring crops on 43 thou hectares, including 1.5 thou hectares of wheat, 22.5 thou hectares of barley, 18.7 thou hectares of peas and 0.3 thou hectares of oats; Ternopil – 6.4 thou hectares of wheat, 21.3 thou hectares of barley, 2.1 thou. hectares of peas, 1.5 thousand hectares of oats; Kirovograd – 0.9 thousand hectares of wheat, 14.5 thousand hectares of barley, 10.5 thousand hectares of peas; Vinnytsia – 5.6 thousand hectares of wheat, 12.3 thousand hectares of barley, 5.3 thousand hectares of peas, 0.9 thousand hectares of oats; Rivne – 0.5 thousand hectares of wheat, 10.7 thousand hectares of barley, 0.7 thousand hectares of peas, 3.3 thousand hectares of oats.

The Ministry reminded that in general, in 2025, it is planned to sow more than 5.7 million hectares of spring grains and legumes, which corresponds to the level of 2024. The main feature of the new season will be an increase in the area under spring wheat by 28%, to 222.8 thou hectares. Such changes in the crop structure correspond to the stable demand for wheat from processing companies and exporters.

As reported, as of March 21, 2024, Ukraine sowed 214.5 thsd ha of spring grains and pulses in 20 regions. Peas were sown on 53.1 thou hectares, barley on 117.3 thou hectares, wheat on 29 thou hectares, and oats on 10.6 thou hectares.

“Astarta” to invest more than $21 mln to upgrade agricultural machinery

Astarta, Ukraine’s largest sugar producer, plans to invest over $21 million in 2025 to upgrade its agricultural machinery fleet, the company’s press service reports.

According to the report, 150 units of new equipment have already been contracted, including heavy tractors, sprayers, self-propelled beet harvesters, sowing complexes, precision seeders, tillage machines and other equipment. Some of the equipment has been delivered to the agro-industrial holding’s production facilities and will be actively used in the spring field work. This will help increase the efficiency of agricultural production and optimize tillage and harvesting processes, as well as preserve soil health.

“The purchase of modern machinery is one of the elements of our decarbonization strategy, which involves reducing greenhouse gas emissions through more fuel-efficient equipment and the use of precision and regenerative farming practices. In order to reduce the impact of agricultural production on climate change, Astarta continues to scale up such practices, in particular, reducing the number and depth of tillage and increasing the area under cover crops,” said Andriy Zagorulko, Director of Crop Production, Logistics and Mechanization.

According to him, in 2024, the agricultural holding increased the area under no-till tillage and green manure. It has expanded the differentiated and local application of mineral fertilizers, which provides for their optimal use. In addition, local fertilization simultaneously with main tillage significantly reduces fuel consumption due to fewer technological operations.

“The updated machinery fleet will allow us to respond more quickly to changing weather conditions, be much more cost-effective and reduce dependence on third-party services,” the agricultural holding is convinced.

“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine. It includes six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, an oil extraction plant in Globyno (Poltava region), seven elevators and a biogas complex.

In 2023, the agricultural holding reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.

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Egypt seeks to raise up to $15 bln annually through real estate sales to foreigners

Egypt aims to raise between $10 and $15 billion annually through the sale of real estate to foreigners, targeting foreign investors to boost economic growth and transform the real estate market.

According to Dr. Abdel Monim El Sayed, Director of the Cairo Center for Economic Research, real estate exports can generate significant revenues if organized effectively. He emphasized the need to introduce clear policies aimed at simplifying the procedures for acquiring property for foreign investors. El-Sayed noted that despite the potential of the Egyptian real estate market, there are obstacles, such as the lack of reliable data on exported properties and the absence of a single regulatory body that would meet global standards.

As an example of the successful implementation of such initiatives, in 2024 Dubai recorded real estate sales worth over $18 billion, and total real estate exports to the UAE exceeded $45 billion. These figures demonstrate that with the right structures in place, Egypt can achieve similar economic success.

However, there are challenges, especially related to the condition of real estate. El-Sayed noted that many properties are not fully completed, which can deter foreign buyers who prefer move-in ready options. He also emphasized problems with non-transparent contracts and administrative difficulties in registering and transferring property, which creates additional barriers for potential investors.

In response to these problems, the need to establish a central regulatory body to oversee the real estate sector is emphasized. El Sayed emphasized the importance of establishing binding rules for contracts, quality standards for finishes, and financial criteria for developers. Such a body would ensure the safety of buyers’ funds and reduce risks for foreign investors.

The government’s proposal includes conditions such as a minimum property value of $300,000 for foreign buyers and foreign currency payment requirements, which should facilitate transactions. The main goal of this initiative is to support the inflow of foreign currency to Egypt and effectively balance supply and demand in the real estate market.

The simplification of processes and targeted incentives are expected to increase the attractiveness of Egyptian real estate for foreign investors. The government aims to position Egypt as an attractive choice for international buyers, accompanying these measures with a large-scale promotional campaign aimed at attracting foreign real estate buyers, which is in line with global trends in investing in emerging markets.

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