Business news from Ukraine

Business news from Ukraine

Two dry cargo ships with soybeans left Ukraine for Spain and Turkey

Two ships carrying more than 33,000 tons of soybeans left Ukrainian ports on Friday, the Joint Coordination Center (JCC) reported.
“Two ships left Ukrainian ports on Nov. 25, carrying a total of 33,165 tons of soybeans as part of the Black Sea Grain Initiative,” the report said.
The dry cargo ship Port Alberni will carry 26,765 tons of soybeans to Spain, the ship CS Cihan will carry 6.4 thousand tons to Turkey.
SKC notes that 28 loaded dry cargo vessels are preparing to be inspected in Turkish territorial waters to proceed further to their destinations.
“As of November 25, the total tonnage of grain and other agricultural products exported from three Ukrainian ports is 11,940,672 tons. A total of 983 vessels were allowed to move so far: 489 to arrive at Ukrainian ports and 494 to leave them,” the JCC stressed.

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Dynamics of balance of payments of Ukraine in 1998-2022 (USD mln)

Dynamics of balance of payments of Ukraine in 1998-2022 (USD mln)

http://www.minfin.gov.ua

Romania, Bulgaria and Croatia will help Ukraine increase agricultural exports in transit

The leaders of Romania, Bulgaria and Croatia have supported the “Grain from Ukraine” initiative announced by the president of Ukraine and announced further efforts to increase existing and create new transit corridors for the export of Ukrainian grain and other agricultural products.
“Since the beginning of the war, 8.4 million tons of grains and oilseeds from Ukraine have been transited (through Romania) to consumers in the world. We expect transit exports from Ukraine to increase in the coming months,” Romanian Prime Minister Nicolae Ciuca said in a video message at the international food security summit in Kiev on Saturday.
He noted that Romania has acted very strongly in support of Ukrainian grain exports through Romanian ports and will continue working to increase connectivity between the countries by land and rail, including the recent opening of a new border crossing.
Ciuche also stressed that Romania has and will not back down from supporting Ukraine and Moldova in the energy sphere. “We will not allow Russia to plunge the region into darkness,” he said.
Bulgarian President Rumen Radev said at the summit that Bulgaria has managed to transport about 200,000 tons of grain from Ukraine across the Danube in recent months, and the country intends to continue this transportation project.
“Unfortunately, the loss of power in Ukrainian ports due to Russian shelling has made this process difficult for Bulgarian vessels,” he said.
Radev also said Bulgaria is providing fuel to Ukraine so the country can support the agricultural and transportation sectors.
Croatian Prime Minister Andrea Plenkovic also supported work on new corridors for the supply of Ukrainian products as part of the EU’s Solidarity Routes project.
“Croatia is actively joining, and will attract other ports on the Adriatic and there are opportunities for corridors along the Danube River,” said the Croatian government head.
The three leaders welcomed the extension of the Black Sea Grain Initiative for another 120 days, and the Bulgarian president urged the search for stable long-term solutions.

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Qatar to allocate $20 million to buy agricultural products for African countries in framework of Grain from Ukraine initiative

The State of Qatar will allocate $20 million to buy agricultural products for African countries in the framework of the Grain from Ukraine initiative, announced by President Vladimir Zelensky at the G20 Summit last week, to help feed people around the world.
Sheikh Mohamed Al Thani, deputy prime minister and foreign minister of the State of Qatar, said this during a speech at the international summit on food security on Saturday.
“Qatar welcomes special programs and projects that promote food security and increase the sustainability of countries. We welcome the Grain from Ukraine initiative as it aims to help African countries get Ukrainian food exports. Qatar will allocate $20 million to support this initiative”, – emphasized the representative of Qatar.
He also reminded that the Qatar Foundation for Development will provide $12 million to the Horn of Africa to ensure food safety, and has already provided the UN World Food Program (WFP) with $90 million to feed famished people in Yemen.
In addition, Qatar has already allocated $5 million to the Ukrainian Ministry of Health for the purchase of ambulances and other medical equipment.
“Qatar remains a reliable international partner, and we support collective initiatives, international activities aimed at ensuring our country works effectively together with international partners to confront challenges that threaten specific communities and also pose a collective threat to humanity,” Sheikh concluded.
As reported, the humanitarian program Grain from Ukraine, announced by Ukrainian President Volodymyr Zelensky at a speech before the G-20, which will be implemented in partnership with the UN WFP, provides grain for at least 5 million people until the end of spring 2023.
Ukraine has decided to send part of its grain reserves under the program to those African countries where there are already problems of hunger. Part of the grain ready for export can be bought by the project participants, thus the international partners can simultaneously support the Ukrainian economy in a difficult situation and help poor countries in Africa.
The U.S. has already earmarked $20 million for the project implementation, while Germany and Japan are to contribute EUR 15 million, Belgium EUR 10 million, France EUR 6 million and Canada USD 30 million (about $22.4 million).

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Dynamics of gold and foreign reserves of Ukraine from 2012 to 2022

Dynamics of gold and foreign reserves of Ukraine from 2012 to 2022

http://www.minfin.gov.ua

“Intervzryvprom” has increased its profit by 2.6 times and will use part of it to cover losses without paying dividends

PJSC “Enterprise with foreign investment (EFI) “Intervzryvprom” (Gorishni Plavni, Poltava region) at the end of 2021 increased its net profit in 2.6 times compared with 2020 – up to 113.354 million UAH from 43.858 million UAH.
According to the company’s announcement about the annual meeting of shareholders, which will be held on December 27, the undistributed profits at the end of last year amounted to 72.175 mln hryvnia.
The draft decisions of the meeting proposed to the shareholders to approve the profit received in 2021 in the amount of 113,354 mln hryvnia. Of these UAH 40,879 mln to be used for paying off the losses of previous years, UAH 1 mln 599,9 thousand for the formation of the reserve capital of the company and UAH 70 mln 875,1 thousand to be left undistributed.
Not to pay dividends on the results of activity of PrJSC in 2021.
The stockholders will also summarize the results of the company’s activity for 2021, approve reports and approve major transactions.
As it was reported, in 2004-2005 Intervzryvprom put into operation at Poltava Mining and Processing Enterprise a technological line for production of emulsion and a mixing and charging machine which was purchased in the USA.
PJSC Intervzryvprom Foreign Investment Company (FIC) was founded in May 2001. It is engaged in the production of explosives.
According to the data of the National Tax Service as of the fourth quarter of 2021, PrJSC Ukrainian Financial Company and Intervzryvprom Ltd have 24.9981% each of the company’s shares, while M&Q Trading Limited and West Industrial Investment company Ltd (both in Cyprus) have 24.9972% each.
Intervzivprom Ltd. was registered in September 2000 with the registered capital of 1.5 million hryvnias. The company’s beneficiary Konstantin Nosov (Kiev) owns a 99.2% stake. Among its main activities is the production of explosives.
The registered capital of PJSC Intervzryvprom is UAH 10.666 mln, and the par value of its shares is UAH 100.

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