Business news from Ukraine

Business news from Ukraine

UKRAINIAN PRESIDENT: UKRAINE HAS NO POSSIBILITY TO DEVELOP VACCINES, BUT READY TO START PRODUCTION

There is no technical capacity in Ukraine to conduct research and development of any vaccines, including against coronavirus, but preparations are underway for mass production, Ukrainian President Volodymyr Zelensky has said.
“From the very beginning of the pandemic, we gathered all specialists. We have brilliant doctors, and this is true. Technically, we could not produce any vaccines, or develop from the point of view of science – there is no medical technical equipment. With all due respect, once again, to our doctors and scientists. There are no questions for them, they are great. But there was nothing at all, there were no laboratories, vaccine production – I will tell you frankly, now there are already several enterprises that are ready for mass production,” he told reporters during a working visit to Mykolaiv region.
Zelensky noted that the Health Ministry of Ukraine has already begun negotiations with the countries that are developing vaccine against coronavirus.
“If we manage to get the vaccine from one country or another, we are ready to produce it on a large scale, helping other countries and, first of all, helping Ukrainians,” the president stressed.
In addition, it is planned to create a research center in Ukraine specializing in the development of vaccines.
“The question is global about science, medicine, the development of vaccines for the future, so this task has already been set. The Ministry of Health and the prime minister are gathering scientists separately, we will create a separate center, gather the best scientists of Ukraine, so that we could be ready for any future challenges. It takes time, but I believe that if we have a desire, we will do the rest,” Zelensky said.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 21/08/20

National bank of Ukraine’s official rates as of 21/08/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF AUGUST 21

Official rates of banking metals from national bank as of August 21

One troy ounce=31.10 grams

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UKRZALIZNYTSIA LAUNCHES TWO ADDITIONAL TRAINS FROM ODESA TO KYIV, LVIV

JSC Ukrzaliznytsia for the upcoming Independence Day of Ukraine will launch additional high-speed trains No. 224/223 Odesa-Kyiv and No. 168/167 Lviv-Odesa.
According to the company’s press service, the trains will be launched due to an increased demand for passenger transportation services on holidays.
Train No. 224/223 will transport passengers between Odesa and Kyiv on August 22 and 24.
Train No. 168/167 will transport passengers between Lviv and Odesa on August 22, 24, 26, 28 and 30.

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EBRD PROVIDES $200 MLN LOAN TO OLAM FOR SUBSIDIARIES INCLUDING UKRAINE

The European Bank for Reconstruction and Development (EBRD) has provided Olam International Ltd. (Singapore) with a $200 million loan to finance the company’s working capital needs in Ukraine, Turkey, Egypt, Georgia and Poland.
“The EBRD loan will finance purchases of agricultural commodities such as hazelnuts, dry dairy products, grain and onions in selected countries of operation. Local subsidiaries of the company will take on the processing, storage and distribution of these goods,” the bank said on its website.
“The European Union and the TaiwanBusiness-EBRD Technical Cooperation Fund will provide donor support for the development of new methodologies and processes for climate-related risk management and stress testing in Egypt and Turkey,” it says.
Olam International is a major food and agricultural products manufacturer headquartered in Singapore.
Olam International Ltd. 53.4% is owned by Temasek Holdings, 17.4% by Mitsubishi Corporation, 7% by Kewalram Chanrai Group and 6.3% by the Olam management.
Olam Ukraine LLC was founded in 2005 and is currently the leading supplier of cocoa beans and cocoa products to large local confectioners, as well as a major exporter of grain and milk powder products.

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PRESIDENT OF UKRAINE SUPPORTS ADOPTION OF LAW ON INLAND WATERWAY TRANSPORT

President of Ukraine Volodymyr Zelensky advocates the adoption of a law on inland waterway transport, which will allow the development of a cheap type of freight transportation and save Ukrainian highways.
During a conversation with media representatives in Kherson region, the president noted that now the state is investing billions of hryvnias in the repair and construction of highways, and then overloaded trucks move along them and destroy the roadbed.
“The country should have several routes of transportation. Water transport is one of the cheapest types of transportation,” Zelensky said.
According to the head of state, the draft law on water transport is under consideration in the profile committee of the Verkhovna Rada.
“I am sure that we will vote this law, and this type of transport, which we really need, will work. And we will develop shipping and transportation,” Zelensky stressed.
The adoption of the law will contribute to an increase in freight traffic of 35 million tonnes per year, saving roads and UAH 1 billion for road surface repairs over four years. The document, if adopted, will provide constant funding for safe river infrastructure, stimulate shipbuilding and the restoration of Ukrainian enterprises and jobs, and also open the admission of vessels under a foreign flag to the inland waterways of Ukraine, which will contribute to the development of international trade.

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