The Export Credit Agency (ECA) supported UAH 1.31 billion of Ukrainian exports in January 2025, which is twice as much as in the entire first quarter of 2024, First Vice Prime Minister and Minister of Economy Yulia Svyrydenko said.
“One of the key areas of the ‘Made in Ukraine’ policy is to support and develop non-resource exports. Thanks to cooperation with the ECA, Ukrainian exporters reduce their risks and get the opportunity to get cheaper loans, and thus increase sales abroad.
It is important that such cooperation is expanding, and each hryvnia of insurance liability is converted into almost UAH 14 of future export revenue,” the press service of the Ministry of Economy quoted her as saying.
The ministry noted that in the first month of 2025, export credits in the ECA were insured by Creditwestbank, FUIB, and Oschadbank. Entrepreneurs from Khmelnytskyi and Zaporizhzhia regions and the city of Kyiv used this opportunity most often.
These companies produce furniture, ready-made grain and flour products, alcoholic and non-alcoholic beverages, and dairy products. Their products are exported to 17 countries, including Bulgaria, Denmark, Germany, Hungary, the United Arab Emirates, and Romania, the Ministry of Economy added.
As reported, in 2024, the ECA supported UAH 7.53 billion of Ukrainian exports. The tools of the Export Credit Agency of Ukraine are one of the elements of the “Made in Ukraine” policy. Its goal is to support non-resource exports, develop production and attract investment in the real sector.
In 2024, PJSC “Industrial and Production Association ‘Kryvbassvibukhprom’ increased the payment of taxes and mandatory payments to the budgets of all levels by 51% compared to the previous year, up to UAH 160.5 million.
According to the company, UAH 125 million of this amount went to the state budget and UAH 35.5 million to local budgets.
“The amount of payments to the budget increased by 51% due to the growth in the volume of work performed and, despite the difficult times of war, an increase in wages,” the press release states.
“Krivbassvibrokhprom provides blasting services in the quarries of Ukrainian mining companies. It is a major producer of emulsion and non-waterproof explosives. The company’s technological chain includes storage, processing, transportation and blasting operations.
According to the third quarter of 2024, Quarex Ltd. (Cyprus) owns 93.164% of the company’s shares, while SCM Group’s UMG holds 6.5619%.
The authorized capital of Kryvbassvibrokom is UAH 97.022 million, with a share par value of UAH 1.
Join UP!, one of the leaders of the Ukrainian travel market, is opening a company in the Czech Republic, with an office in Prague, the company’s press service toldInterfax-Ukraine.
“Entering the Czech market is an important stage in the brand’s development. Although this is the ninth country where we have started working since the creation of Join UP! tour operator in 2010 in Ukraine, this story is not only about growth for us. Scaling the Join UP! travel experience to other markets also reflects our commitment to transforming the travel industry and encouraging people to travel, because we sincerely believe that travel is not just entertainment, but also a way to take care of yourself and your loved ones, to live every day of your life to the fullest, despite all the challenges of recent years,” comments Alina Alba, co-founder of Join UP! Alina Alba, co-founder of Join UP!
It is reported that the new tour operator will soon present a summer selection of its top destinations to the Czech market. Among them are direct flights from Prague to Sharm el-Sheikh in Egypt, as well as to the Mediterranean resorts of Greece, Turkey, and Cyprus. It is also noted that from Katowice, Poland, the tour operator offers flights to Egypt, the Dominican Republic, Greece, Turkey, Tunisia, Bulgaria, Spain, Montenegro, and Cyprus. Such a flight program opens up additional opportunities for our compatriots to spend their holidays in the Czech Republic. In particular, from Ostrava, where there are many Ukrainians, it is an hour’s drive to Katowice, Poland, which is almost four times closer than Prague.
The Join UP! brand is developing on the principle of localism by combining a global strategy with the local cultural context. The brand’s international expansion already covers 8 markets: the Baltic States, Kazakhstan, Moldova, Poland, Romania, and the Czech Republic. Preparations for the launch in Slovakia and Hungary are nearing completion.
Also in Poland, in Katowice, in 2024, the brand opened the first franchise agency on the international market.
Join UP! LLC was established in 2013, with an authorized capital of UAH 72 million 671 thousand. The ultimate beneficiaries are Yuriy and Oleksandr Alba. In 2023, revenue increased to UAH 16 million 639 thousand, which is 2.3 times higher than in 2022.
A document was signed on the margins of the Munich Security Forum, fixing the intention to create a joint venture between Ukroboronprom JSC and Thales International SAS, Ukrainian Minister for Strategic Industries German Smetanin said on Saturday.
“Ukroboronprom JSC and Thales International SAS have agreed to establish a joint venture, and have fixed these agreements on paper. The newly created enterprise will specialize in the creation of advanced technological solutions to enhance air defense, radars, REB means, tactical communications and optoelectronic systems,” he wrote in a Telegram channel.
As Smetanin noted, the Ukrainian defense industry has already cooperated with Thales for a long time. “I am glad that this cooperation is deepening to the creation of a JV. Thank you French partners for the support of our defense industry and the courage to work in Ukraine,” – added the Minister.
Earlier it was reported that the Minister of defense of Ukraine Rustem Umerov during a working visit to Brussels held a meeting with representatives of the company Thales Belgium, which since the beginning of the full-scale invasion “provides Ukraine with important support”.
According to the company’s website, Thales Group has developed its industrial and technological capabilities across Europe and has a broad portfolio of solutions including defense and security, aerospace, space, and digital identity and security. Thales also maintains a permanent presence in Brussels to serve the European institutions and NATO.
Saudi Arabia has supported the idea of holding a meeting between US President Donald Trump and Vladimir Putin on its territory and reaffirmed its ongoing efforts to achieve a lasting peace between Russia and Ukraine, the press service of the Saudi Foreign Ministry reported.
“The Kingdom of Saudi Arabia highly appreciates the telephone conversation held between US President Donald Trump and Russian President Vladimir Putin on February 12, as well as the announcement of the possibility of holding a summit between their esteemed two presidents in the Kingdom of Saudi Arabia,” the statement said.
The ministry added that the Kingdom welcomes the summit in Saudi Arabia and reaffirms its ongoing efforts to achieve a lasting peace between Russia and Ukraine.
It is noted that on March 3, 2022, Crown Prince and Prime Minister of the KSA Mohammed bin Salman bin Abdulaziz, during telephone conversations with Putin and Zelensky, “expressed the Kingdom’s readiness to provide its mediation services to achieve a political settlement of the crisis.”
“Over the past three years, the Kingdom has continued these efforts, in particular by organizing numerous meetings on this issue,” the Foreign Ministry added.
In January-June 2024, Ukrzaliznytsia (UZ) increased its revenue by 19.51% compared to the same period in 2023 to UAH 53.9 billion, while decreasing its profit by 33.2% to UAH 3.17 billion, according to its interim condensed consolidated unaudited financial statements as of June 30, 2024.
According to the report for 6 months. 2024 on the official website of UZ, revenues from freight transportation in January-June increased by 17.8% to UAH 43.01 billion. At the same time, revenues from passenger and baggage transportation grew even more significantly by 22.15% to UAH 5.35 billion.
At the same time, UZ personnel costs in January-June 2024 increased by 24.75% to UAH 24.72 billion compared to the same period in 2023. Electricity costs increased by 56.2% to UAH 7.78 billion. In contrast, fuel costs decreased by 14.92% to UAH 4.62 billion.
Net foreign exchange loss increased 26.2 times to UAH 2.87 billion in the period under review.
Profit before tax decreased by 35.7% to UAH 3.25 billion.
As of June 30, 2024, UZ was involved in litigation with the Ukrainian fiscal authorities regarding the accrual of additional tax liabilities for income tax, VAT and other taxes in the amount of UAH 1.1 billion, including additional fines and penalties. As of June 30, 2024, the group’s potential loss from third-party claims in other litigation and arbitration proceedings amounted to UAH 1.3 billion, compared to UAH 1.63 billion in 2023, the report says.
The UZ group includes the parent company JSC Ukrainian Railways, PJSC Dnipropetrovs’k Diesel Locomotive Repair Plant, PJSC Zaporizhzhya Electric Locomotive Repair Plant, PJSC Lviv Locomotive Repair Plant, PJSC Kyiv Electric Car Repair Plant, PrJSC “Korosten Reinforced Concrete Sleepers Plant”, PrJSC “Hnivan Special Reinforced Concrete Plant”, PrJSC “Kyiv Electrotechnical Plant ‘Transsignal’, LLC ‘UZ Cargo Wagon’, LLC ‘Zbut Energy Ltd’ (together with subsidiaries), 65.62% of PrJSC ‘Tast-Garantia’, 50.004% of PrJSC IC ‘Inter-Poly’ Ukraine, 100% of UZ Cargo Poland sp. z.o.o Poland.
