Business news from Ukraine

Business news from Ukraine

UKRAINIAN MOLECULAR BIOLOGY AND GENETICS INSTITUTE DEVELOPING MULTI-TEST SYSTEMS FOR DIAGNOSIS OF COVID

The Institute of Molecular Biology and Genetics (IMBG) is developing multi-test systems for the diagnosis of COVID-19 against seasonal flu-like illnesses, said Viktor Liashko, the Deputy Minister of Health and Chief Sanitary Doctor of Ukraine.
“Influenza-like diseases span about 200 viruses. We actively cooperate with our academic institutes. IMBG has developed test systems [for diagnosing COVID-19 by PCR method]. Today it is developing a multi-test system that will allow us to conduct certain tests and will show percentage content of those viruses that circulate during this period of increased viral diseases,” he said on the NV Radio on Thursday.
Commenting on the likelihood of a second wave of the COVID-19 epidemic, Liashko noted that it will be more likely during the seasonal growth of influenza and flu-like illnesses.
“It is this second wave that we fear. Then there may be serious growth of incidences. In such cases, the combination of infections is possible, and it will be difficult to diagnose which pathogen caused the disease: flu or coronavirus,” he said.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 12/06/20

National bank of Ukraine’s official rates as of 12/06/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JUNE 12

Official rates of banking metals from national bank as of June 12

One troy ounce=31.10 grams

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FOREIGNERS WILL NEED INSURANCE FOR ENTRY TO UKRAINE

Foreigners will need to have insurance for entry to Ukraine as soon as international flights are resumed, Health Minister of Ukraine Maksym Stepanov has said during a press briefing in Kyiv.
A possibility of testing the passengers for coronavirus (COVID-19) is also being considered.
“Speaking about border crossing and the resumption of international flights scheduled for June 15, we jointly with the Infrastructure Ministry suggest introducing the ‘red’ and ‘green’ zones. The ‘red’ zone will include the countries where the epidemiological situation is worse than in Ukraine, the ‘green’ one is [the countries] with a better situation. The ‘green’ zone foresees observation and self-isolation. In addition, we are considering a possibility of testing, but only by medical workers. At the same time, those who arrive in Ukraine must be insured. We are working on all of these issues,” Stepanov said.

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UKRAINE WANTS TO ABOLISH VAT ON INTERNAL FLIGHTS

The Ministry of Infrastructure of Ukraine will insist on the adoption by the Verkhovna Rada of the law on the abolition of value added tax (VAT) on internal flights, Infrastructure Minister Vladyslav Krykliy has said.
“Aviation is gradually returning to the sky. Internal regular passenger flights started on June 5, and international flights will resume on June 15. There are still challenges for the industry. Therefore, we will insist on the fact, that the Verkhovna Rada support the abolition of value added tax for internal flights,” he wrote on his Telegram channel on Thursday, June 11.
Earlier, SkyUp Airlines (Kyiv) announced the urgent need to abolish VAT on domestic flights in order to maintain affordable prices for tickets within geographic expansion.

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INTERNATIONAL RESERVES OF UKRAINE MAY EXCEED $27.2 BLN– FORECAST

The international reserves of Ukraine by the end of 2020 may exceed the level of $27.2 billion in the April forecast of the National Bank of Ukraine (NBU), the press service of the regulator has told Interfax-Ukraine. “The relatively favorable situation in the world commodity markets, a significant decline in imports, and the signing of a new program with the IMF give reason to expect that international reserves ($25.4 billion at the end of May) will grow even more by the end of the year than according to our April forecast ($27.2 billion),” the report said.
The press service said that the corresponding forecast is the current assumption, recalling that the central bank will present a new macroeconomic forecast in July.
“It’s probably hard to say what the next steps will be like – the uncertainty is too high. Back in April, let’s say, we didn’t even forecast a reduction in the refinancing rate below 7% this year, but today we have already reduced it to a record level of 6%,” the regulator’s press service said.
As reported, the IMF predicts a reduction in Ukraine’s international reserves this year from the current $25.4 billion to $19.3 billion, with a recovery in 2021 to $23.4 billion and in 2022 to $26.5 billion.

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