Business news from Ukraine

Business news from Ukraine

Elon Musk regained first place in list of richest people in world

Elon Musk regained the first place in the list of the richest people in the world following the rise in the value of shares of Tesla Inc.
Thus, Musk again surpassed French billionaire Bernard Arnault, who was ahead of him on the list for two months, notes Bloomberg.
Tesla papers went up almost 70% from the beginning of the current year, its value rose 5.5% on Monday to $207.63. According to the Bloomberg Billionaires index, Musk’s fortune, which stood at $137 billion at the beginning of 2023, increased to $187.1 billion.
The fortune of Arnault, who controls luxury goods maker LVMH Moet Hennessy Louis Vuitton, is $185.3 billion.

Ukraine exported almost 32 million tons of grain since beginning of marketing year

Ukraine since the beginning of 2022/2023 marketing year (MY, July-June) and until February 27 has exported 31.78 million tons of grain crops, including 18.2 million tons of corn (57.2% of total supplies), 11.24 million tons of wheat (35.6%) and 2.05 million tons of barley (6.4%).
As reported on the website of the Ministry of Agrarian Policy and Food on Monday, the rate of grain exports since the beginning of this MY is by 26.9% lower than during the same period of the previous MY, when 43.52 million tons were shipped abroad on that date. Thus, on February 27, there was achieved the minimum for the season lag of export volumes from the indicators of the previous season. For comparison, the previous smallest gap from last year’s figures at the rate of “minus” 28.65% was recorded on February 13.
According to the Ministry, Ukraine has exported 18.2 million tons of corn (-5.8% compared to the same period last year), 11.24 million tons of wheat (1.61 times less), 2.05 million tons of barley (2.75 times less), 15.8 thousand tons of rye (10.2 times less) and 97.7 tons of flour (+43.7%) since the beginning of 2022/2023 MY and until February 27 this year.
It is specified that Ukraine exported 4.7 million tons of grain since early February, including 2.94 million tons of corn, 1.51 million tons of wheat, 229 tons of barley, 15,300 tons of flour and 3 tons of rye.
As it follows from the Ministry data, during the week of February 20-27, an average of 192.9 thousand tons of grain was supplied to foreign markets per day, while during the preceding period of February 13-20 – 165.7 thousand tons/day, February 3-13 – 170.7 thousand tons/day, January 27 – February 3 – 209.4 thousand tons/day, January 20-27 – 121.1 thousand tons/day, January 9-20 – 140 thousand tons/day and January 2-9 – 121.7 thousand tons/day. Thus, the average daily rate of exports during the reporting period February 20-27 has increased by 16.4% compared to the previous period February 13-20.
As reported, Ukraine in 2021/2022 MY exported 48.51 million tons of grain and leguminous crops, which is 8.4% higher than in the previous MY, despite the full-scale invasion of Russia and the difficulties with the export of agricultural products due to the blockade of Ukrainian seaports. 18.74 million tons of wheat (12.6% more than in 2020/2021MY), 23.54 million tons of corn (+1.9%), 5.75 million tons of barley (+35.9%), 70.9 thousand tons of flour (-44.1%) were supplied to foreign markets.
Ukraine in 2020/2021 MY exported 44.72 million tons of grain and leguminous crops: 16.64 million tons of wheat, 23.08 million tons of corn, 4.23 million tons of barley, 126.9 thousand tons of flour and 18.4 thousand tons of rye.
In 2019/2020, Ukraine exported 56.72 million tons of grain and leguminous crops.

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French Quarter to be Built in Vorzel

A French quarter is planned to be built around the Vorzel History and Culture Museum “Uvarovsky Dom” (a local architectural monument), Bucha Mayor Anatoliy Fedoruk said.
“For several months now, a group of French architects has been working on the concept of developing this part of Vorzel, which we intend to develop as a cultural and educational space. On the one hand, it is important to preserve and restore the Uvarovsky House itself. On the other hand – to build a new building of school № 10 and preschool educational institution, which was destroyed by the Rashists”, – he reported in Telegram-channel.
The mayor of Bucha specified that the project of modern cultural space was presented by the president of the Architectural Association AMO Martin Duplantier.
“The proposed new building combines modern solutions for such spaces with traditional wooden elements for Vorzel. Funding has been agreed to be sought together. We expect that the idea of such a neighborhood will also like the residents of Vorzel and those citizens of France who want to support our community in the recovery,” said Fedoruk.
Vorzel since 2018 is a part of the Buchatskaya city community.
“The Uvarovsky House, a symbol of the city, was built in Vorzel in 1902 for the famous Kiev industrialist Karl-Henrich Septer. It was later purchased by Countess Natalia Uvarova, the daughter of the famous sugar manufacturer and patron of the arts Feodor Tereshchenko.

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Taiwan to allocate $56 million to rebuild civilian infrastructure in Ukraine

Taiwan’s Foreign Ministry has allocated about $56 million in the 2023 budget for rebuilding Ukraine’s civil infrastructure, Caribbean News Global reported Monday.
The publication said, citing Taiwan’s Foreign Ministry, plans to participate in the reconstruction of Ukrainian hospitals, schools, churches, energy facilities, water supply, bridges and transport on a bilateral and multilateral basis.
“Since the start of the war (Russia’s full-scale invasion of Ukraine), the people and government of Taiwan have donated a total of 27 tons of medical supplies and more than 700 tons of humanitarian aid. Aid from Taiwan was quickly delivered via Poland, Slovakia and other neighboring countries to Ukrainians seeking to protect their homes during the war,” the publication notes.
Taiwan also donated more than $41 million to efforts in coordination with neighboring countries – including Poland, the Czech Republic, Slovakia and Lithuania – and international organizations to resettle Ukrainian refugees together.

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Germany will allocate money to rebuild 12 schools in Ukraine

The German federal government is allocating 5 million euros to support a project to repair war-damaged schools in Ukraine, the United Nations Development Program (UNDP) in Ukraine reports.
“The UNDP-coordinated project will promote sustainability and green recovery through the repair and modernization of damaged educational institutions in war-affected territories as part of the UNDP Resilience and Recovery Programme. The first sites where repairs will be funded were selected from a list of 74 schools located in 12 cities that are in urgent need of repair work. The list was compiled by the Ministry of Education of Ukraine”, – stated in the message.
The financial contribution of the German government will be distributed among 12 schools in five regions – Zaporizhzhia, Mykolayiv, Rivne, Sumy and Chernihiv. Thus, more than 3 thousand students will be able to resume their education.
In the course of repair work, the Eurocode 8 standard, which applies to the design and construction of structures and other construction work in seismic areas, will be applied. There will also be a unified approach to the repair and modernization of existing buildings. The use of hazardous building materials (e.g., asbestos, sealants containing persistent organic pollutants) will be prohibited, the use of environmentally friendly furniture and equipment will be encouraged (e.g., LED lights instead of fluorescent lamps containing mercury). In addition, a key part of the initial design task and part of the requirements for the selection of the design team and developers will be the criteria of architectural accessibility.
“The UNDP team has already begun inspecting each building and assessing specific rehabilitation needs. The accelerated procurement procedure will allow identifying a group of companies to carry out repairs that will be carried out in full compliance with national legislation and Eurocode 8 standards, while respecting Build Back Better principles,” said UNDP Resident Representative in Ukraine Jaco Silje, noting that institutions that have suffered minor or partial damage will be repaired and modernized.
German Ambassador to Ukraine Anka Feldhusen said it is important to invest in Ukraine’s future and in the sustainability of its children and teachers.
“Eventually these children will live in this great country and rebuild it for the better. But they need schools to teach them and teachers to show them the way. We also need to make sure that school buildings are safe places to learn in terms of environmental standards,” she stressed.

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Georgia allows Ukrainian citizens to stay on its territory for two years without visa

The Georgian government has allowed Ukrainian citizens to enter and stay on its territory for two years without having to apply for a visa.
The corresponding decree was published on the official website of the Legislative Herald of Georgia.
Document No. 81, adopted on February 24, 2023, amends the Georgian government’s resolution of June 5, 2015 “On approving the list of countries whose citizens can enter Georgia without a visa.”
According to the amendments, from now on citizens of Ukraine have the right to enter Georgia without a visa and stay in Georgia for a full two years.
The document was signed by the Prime Minister Irakli Garibashvili. It enters into force from the day of its promulgation.

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