Business news from Ukraine

Business news from Ukraine

“Kyivstar expects to restore services tomorrow

Ukraine’s largest mobile operator Kyivstar has partially restored fixed-line services after a large-scale failure at 20:00 on Tuesday, the company promised to complete the restoration of other services during the day on December 13.

“As of 20:00 on December 12, the work of fixed-line services has been partially restored. Now the company’s specialists are working on the restoration of other services and are doing their best to finally complete this work during December 13, 2023. Restoration of services may occur gradually, about which we will inform additionally”, – stated in the message of the press service of “Kyivstar”.

The attack on the company on Tuesday in Kyivstar called “the largest hacker attack in the history of the global telecom market”. They also assured that the company’s specialists started resuming services without delay.

“Kyivstar” expressed gratitude to law enforcement agencies, state services, Security Service of Ukraine for the immediate response and professional assistance in solving the unprecedented situation.

Also, on behalf of the entire Kyivstar team thanked for the understanding and support of subscribers, colleagues in the telecom market, and corporate customers.

The company assured that after the stabilization of the network operation all subscribers and corporate clients, for whom Kyivstar services were unavailable as a result of the hacker attack, will receive compensation.

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Government bill on lobbyism will be registered in Verkhovna Rada in nearest future, Ukrainian parliament speaker Ruslan Stefanchuk has said.

A government bill on lobbyism will be registered in the Verkhovna Rada in the near future, the speaker of the Ukrainian parliament, Ruslan Stefanchuk, has said.

“The recommendation of the European Commission was that we need to adopt a law on lobbyism in accordance with European standards… Already now the government has developed the necessary bill. I think it will be registered in the Verkhovna Rada of Ukraine in the coming week,” Stefanchuk said in an interview with the We-Ukraine TV channel, which broadcast a national telethon on Tuesday.

According to the speaker, there will be no problems with the adoption of the bill and it will take into account all the recommendations of the European Commission.

He recalled that four draft laws on lobbyism had already been registered in parliament.

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National Bank excludes 5 more non-banking financial institutions from the register

The National Bank of Ukraine has excluded one pawnshop, three financial companies and one credit union from the State Register of Financial Institutions due to the cancellation of all available licenses. The following companies were excluded from the state register: Novy Lombard LLC @VERS and Company, Suplayerplus Ukraine LLC, Valta Group FC LLC, Fastlane FC LLC.

In addition, the NBU revoked the licenses for financial services activities and excluded CS Alternative from the State Register of Financial Institutions on the basis of its own application.

KC “Alternativa” had two licenses to provide financial services: to lend funds, including on the terms of a financial loan, and to attract financial assets with an obligation for their subsequent repayment.

The volume of CC assets as of October 1, 2023 amounted to UAH 2,112 million (0,15% of the total volume of the credit union market).

Such decisions were made by the Committee for Supervision and Regulation of Non-Banking Financial Services Markets at its meeting on December 8, 2023.

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Antimonopoly Committee of Ukraine has fined Zdorovye Pharmaceutical Company LLC (Kharkiv)

The Antimonopoly Committee of Ukraine (AMCU) has fined Zdorovye Pharmaceutical Company (Kharkiv) for unlawful use of the packaging design of the drug Panthenol Plus, which is similar to the packaging design of the drug Bepanten Plus used by Bayer LLC.

According to the AMCU, the pharmaceutical company “Zdorovye” was fined UAH 719.348 thousand.

According to Bayer, the design of the package of the drug Panthenol Plus is similar to the design of the package of Bepanten Plus to the extent of mixing, and Bayer did not grant permission to use a similar design of the package of Bepanten Plus.

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State specialized economic enterprise “Forests of Ukraine” has announced a tender for MTPL insurance

The state specialized economic enterprise “Forests of Ukraine” on December 8 for compulsory insurance of motor civil liability of owners of land vehicles (MTPL).

As reported in the system of electronic public procurement Prozorro, the expected cost of the purchase of insurance services is 189.786 thousand UAH.

The deadline for submitting bids for the tender is December 16.

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USDA raises forecast for wheat and corn exports from Ukraine

The U.S. Department of Agriculture (USDA) has raised its forecast for wheat exports from Ukraine in 2023/24 marketing year (MY) by 0.5 million tons to 12.5 million tons, and corn by 1.0 million tons to 21.0 million tons.
According to the U.S. agency’s December report, the improvement in the forecast for wheat exports was made by reducing the estimate of year-end carryover balances by the same 0.5 million tons, to 2.58 million tons.
As for corn, the USDA raised the forecast for its harvest also by 1 million tons – up to 30.5 million tons.
In addition, the U.S. analysts improved the estimate of transitional corn residues by 0.39 million tons both at the beginning of this MY (up to 2.8 million tons) and at its end (up to 6.82 million tons).
Overall, the updated world wheat crop forecast for 2023/24 is improved by 1.03 million tons to 783.01 million due to positive revisions to estimates for Australia and Canada, offsetting a worsening of the forecast for Brazil.
The estimate for global wheat consumption is raised by 1.82 million tons to 794.66 million, and global exports by 2.18 million tons to 207.19 million tons: in addition to Ukraine, the estimates for the United States, Australia and Canada are improved.
As for corn, the forecast for its harvest in December was raised by 1.28 million tons to 1 billion 222.07 million tons, and for exports by 1.84 million tons to 201.46 million tons.

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