Business news from Ukraine

Business news from Ukraine

UKRAINIAN PARLIAMENT BACKS BILL ON CUTTING NUMBER OF MEMBERS FROM 450 TO 300

The Verkhovna Rada of Ukraine has passed at first reading presidential bill No. 1017 amending Articles 76 and 77 of the Constitution of Ukraine, which proposes to reduce the number of Members of Parliament to 300 and elect them according to the proportional election system.
236 MPs voted in favor of the bill.

EPICENTER K WANTS TO OPEN 15 NEW FURNITURE CENTERS IN 2020

Epicenter K LLC (Kyiv), which is developing a network of eponymous shopping centers in Ukraine, plans to open 15 new Furniture Centers (Tsentr Mebliv) in its shopping centers in 2020, begin entering external sites and strengthen online sales. “The goal of the company is to increase its stake to 40% by the end of 2020. These plans are related to the new concept for the development of Furniture Centers. Thus, the Epicenter furniture business will significantly expand its assortment, improve client services, and will focus on turnkey solutions, in particular customers will be offered design interiors in different styles and budgets,” the company’s press service said.
According to the report, in 2019 the share of Furniture Centers in the Ukrainian market grew to 25%. During this time, ten new concept stores were opened in the Epicenter chain.
“In the new concept, much attention will be paid to inexpensive functional furniture of modern design that are interesting to young people,” Oleksandr Lukyanchenko, the director of the Tsentr Mebliv direction, said.
According to him, the company also relies on online sales.
“I’m sure that in the future online will be another growth point for us, because there we can present a much wider assortment, not limited by the length of the shelf in an offline store,” he said.
In particular, in 2019, the share of online furniture sales in the Epicenter network was 10%, the largest demand in online sales was recorded for kitchens.

CHINESE DIASPORA FROM UKRAINE SEND BATCH OF MEDICAL MASKS, PROTECTIVE OVERALLS, GLASSES AND SHOES TO WUHAN

The Chinese diaspora in Ukraine sent to Wuhan, the administrative center of the Chinese province of Hubei, which is the epicenter of the spread of the new type of coronavirus 2019-nCoV, a batch of medical masks, protective overalls, glasses and shoes, Xinhua News Agency has reported. “55,000 medical masks, 501 protective overalls, 747 pairs of goggles and 760 pairs of protective shoes will be delivered to the Chinese city,” the message said on Tuesday.
The agency also said Ukraine’s Tchaikovsky National Music Academy would transfer anti-epidemic protection to the Chinese province of Hubei.
“The decision to provide assistance to Hubei was made by the staff of the music academy, since we have a lot of Chinese students studying – over 200 people. In addition, China is our strategic partner, relations with which are very important for us,” Academy Rector Maksym Tymoshenko said in an interview.
According to him, the assistance provided to Hubei will include about 10,000 medical masks and overalls.
The Academy Development Assistance Fund and Confucius Music Center is also helping to purchase anti-epidemic protection products needed by the province because of the 2019-nCoV outbreak was also allocated by.
As of early Tuesday, a virus believed to have originated in Wuhan, China, claimed the lives of 426 people. Meanwhile, more than 20,000 in 27 countries have been infected.

NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 04/02/20

National bank of Ukraine’s official rates as of 04/02/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF FEBRUARY 4

Official rates of banking metals from national bank as of February 4

One troy ounce=31.10 grams

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INTEREST RATES ON NATIONAL BANK OF UKRAINE’S OPERATIONS SET FOR FEB 4

Interest rates on National Bank of Ukraine’s operations set for Feb 4

The Refinancing Rate is a rate at which the NBU provides loans to commercial banks for replenishment of their monetary reserves and lending funds