Business news from Ukraine

Business news from Ukraine

AT DTEK Odessa Power Grids has been recognized as largest employer in Odessa region — rating

According to OpenDataBot’s ranking of Ukraine’s largest employers by region, based on companies’ financial reports for 2023, DTEK Odessa Power Grids has become the largest employer in the Odessa region, providing jobs for more than 3,000 employees. The company specializes in the transmission and distribution of electricity and is part of the DTEK energy group owned by businessman Rinat Akhmetov (SKM group).
According to State Statistics Service and open sources:
Number of employees: about 3,200 (as of the end of 2023)
Revenue: UAH 6.9 billion (2023)
According to public statements, the company is investing in the modernization of power grids and the digitization of services. In 2023 alone, more than UAH 700 million was allocated to infrastructure upgrades and improving the reliability of power supply.

 

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Mortgage rates in US hit four-month high

The average rate on long-term mortgage loans in the US rose by 6 basis points last week, hitting a high since late January amid rising US government bond yields. According to the Mortgage Bankers Association (MBA), the average interest rate on 30-year loans for home purchases of up to $806,500 for the week ending May 23 was 6.98% per annum, compared to 6.92% a week earlier.

A year earlier, mortgage rates stood at 7.05%. The number of mortgage applications in the United States fell 1.2% last week after a 5.1% decline the week before. Applications for new home purchases rose 2.7%, while applications for refinancing existing mortgages fell 7.1%.

 

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EC has taken additional measures to prevent timber from Russia and Belarus from entering EU, according to head of State Forestry Agency

The European Commission has classified Russia and Belarus as countries with the highest risk level in accordance with the EU Regulation on the prevention of deforestation and forest degradation (EUDR), which is an additional safeguard against their forest products entering the European market, said Viktor Smal, head of the State Forestry Agency of Ukraine.

“The European Commission has published an updated list of countries classified according to risk level in accordance with the EUDR. Ukraine, like leading European timber producers, has been given low-risk status. This creates conditions for investors to come to Ukraine and attract investment, opening up new opportunities for Ukrainian exporters of furniture and other forest products, facilitating their entry into the European market. At the same time, Russia and Belarus are among the high-risk countries, which makes it even more difficult for their products to enter the EU. We are working to ensure that countries involved in gray import schemes for Russian timber are also included in the list of high-risk suppliers,” Smal emphasized.

He noted that despite the war, thanks to digitalization and reforms in the forestry sector, Ukraine has managed to obtain the status of a low-risk exporter on a par with Germany, Latvia, Finland, and Poland.

“This is the result of our systemic reforms and digital transformation in the forestry sector, in particular the introduction of such tools as e-logging tickets, e-certificates of origin, and e-TTN with photo documentation,” said the head of the State Forestry Agency.

As reported, in 2022, the EU imposed sanctions on imports of Russian timber, pulp, paper, other wood products, and furniture. This applies not only to imports from Russia but also to the trading of Russian timber through third countries.

According to an investigation by Earthsight, European furniture manufacturers have purchased more than 500,000 cubic meters of Russian-made birch plywood during the war, circumventing sanctions.

World Forest ID experts found that 46% of birch products supplied to the UK and labeled as originating from Ukraine, Poland, Estonia, and Latvia were actually produced in Belarus and Russia.

The EUDR, which will come into force for medium and large companies on January 1, 2026, stipulates that products imported into the EU must not contribute to deforestation or forest degradation. Countries are classified according to risk level — low, standard, and high. Low risk status simplifies exports, reduces the regulatory burden, and enhances the competitiveness of Ukrainian producers in the EU market.

https://interfax.com.ua/news/general/1074828.html

 

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Fora chain has become largest employer in Kyiv region

According to the OpenDataBot rating, the Fora chain has become the largest employer in the Kyiv region, with 9,100 employees.

The chain was founded in 2002 and is part of the Fozzy Group (owned by Vladimir Kostelman, Oleg Sotnikov, and Arkady Geller).

The company actively develops its corporate culture, employing veterans, young people, and people with disabilities.

 

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Harvest volumes of grains and pulses, mln tons

Harvest volumes of grains and pulses, mln tons

Source: Open4Business.com.ua

JSC “MOTOR SICH” topped rating of largest employers in Zaporizhzhia region

JSC “MOTOR SICH” topped the rating of the largest employers in the Zaporizhzhia region according to OpenDataBot, based on the official financial statements of companies.

The aircraft engine manufacturing plant was founded in 1907. Since 2022, it has been owned by the Ukrainian state. Previously, it was controlled by the Boguslaev family.

Number of employees: 13,300. Financial indicators: The company’s revenue in 2023 is about UAH 4 billion. The number of employees decreased by 8% compared to the previous year. The enterprise is strategic for Ukraine’s defense industry.

 

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