Business news from Ukraine

Business news from Ukraine

The negative balance of Ukraine’s foreign trade in goods in September amounted to $354 million, which is three times less than in August

The negative balance of Ukraine’s foreign trade in goods in September amounted to $354 million, which is three times less than in August ($1,052.6 million), said Taras Kachka, Deputy Minister of Economy, Trade Representative of Ukraine.

“Export – $ 4.144 billion, 23% more than in August. Export volume – 9.66 million tons, 32% more than in August,” he wrote on Facebook.

According to the data presented by him, imports in September increased only by 1.9%, to $4.498 billion.

“September exports are more than $4 billion and more than 9 million tons for the first time since February 24,” the trade representative emphasized.

Kachka also pointed out that in September, exports of agro-industrial complex and food industry reached 6.928 million tons against 4.566 million tons in August and 2.985 million tons in July. This was the result of an increase in shipments by sea – from 1.436 million in July to 2.723 million tons in August and 5.175 million tons in September.

Export by railway transport in September decreased to 902.2 thousand tons compared to 970.5 thousand tons in August and 886.5 thousand tons in July, by road – to 849.6 thousand tons in September from 872 .4 thousand tons in August and 662.4 thousand tons in July.

President of Ukraine Zelensky discusses food and nuclear security with Indian PM Narendra Modi

President of Ukraine Volodymyr Zelensky had a conversation with Prime Minister of India Narendra Modi.

“With Indian Prime Minister Narendra Modi we discussed the so-called “referendums” that Russia recently held in the temporarily occupied territories of our state. We also talked about food, nuclear security, cooperation within international organizations, primarily the UN. It is important to strengthen the Ukrainian-Indian partnership amid Russian aggression against Ukraine,” Zelensky wrote on his Telegram channel.

He also thanked India for supporting the sovereignty and territorial integrity of Ukraine. “We appreciate the significant humanitarian assistance provided by the Indian government and the private sector,” the president said.

According to the press service of the head of state, during the conversation, Zelensky said that Ukraine is not going to conduct any negotiations with the current president of the Russian Federation, and also said that the Ukrainian side has always been committed to a peaceful settlement.

“However, Russia did not stand for dialogue, but put forward ultimatums and deliberately undermined this process. During my speech at the UN General Assembly session, I outlined our clear formula for peace. We are ready to work together with partners to achieve it,” the president added.

He also said that Ukraine is ready to continue acting as a guarantor of food security in the world. In this regard, the support of the entire international community, in particular India, for the further implementation of the grain initiative is important.

Zelensky also recalled nuclear blackmail by the Russian leadership, including at the occupied Zaporizhia nuclear power plant.

“Nuclear blackmail by Russia, in particular, regarding the Zaporizhia nuclear power plant, poses a threat not only to Ukraine, but to the whole world,” Zelensky said.

The President also renewed the invitation to the Prime Minister of India to pay a visit to Ukraine.

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Tomorrow, from 9:00 to 12:00, Dzvonkovoe customs post on border with Hungary will not work

On Wednesday morning, the Dzvonkovoe customs post on the Ukrainian-Hungarian border will temporarily stop working, the State Border Guard Service of Ukraine reports.

“Tomorrow, from 9:00 to 12:00, the Dzvonkovoe customs post will not operate due to installation work. Plan your route in advance,” the message on the Telegram channel says.

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Head of National Bank of Ukraine submitted a letter of resignation

The head of the National Bank of Ukraine, Kirill Shevchenko, submitted his resignation to the President of Ukraine on Tuesday, the NBU said in a statement.

“For reasons related to health, which I cannot ignore in the future, I made a difficult decision for myself. I am leaving the post of head of the NBU. I have asked the President of Ukraine to accept my resignation,” Shevchenko is quoted as saying.

He thanked the head of state Volodymyr Zelensky for the trust shown and joint work for the benefit of the state in peacetime and wartime, as well as the NBU team and colleagues from all over the financial market.

“From the first days at the NBU, I was, first of all, an anti-crisis manager and fulfilled my mission: I ensured the smooth operation of the financial system in the extremely difficult time of a full-scale war. The war became another difficult test for our team and me personally – and we passed it with dignity,” – said the head of the NBU.

According to him, the National Bank managed to ensure the smooth operation of the financial system, prevent panic in the foreign exchange market, stop a large-scale outflow of capital in order to protect reserves, keep inflation at an adequate level and “support the state budget, understanding the difficulties in attracting funds during the war.”

“Today, the NBU is indeed stronger than ever in its ability to meet challenges and overcome crises, it is worthy of being tested by war. And it retains its ability to be the basis of post-war economic recovery and direct the entire financial sector to this,” Shevchenko stressed.

He said he was handing over the banking system to a strong, capitalized, resilient banking system for those who would come after him.

“Until the relevant decisions of the Verkhovna Rada of Ukraine on the dismissal and appointment of the head of the National Bank are made, the Board of the National Bank will continue to perform its functions and manage the activities of the National Bank in its current composition,” the message says.

As reported, the Rada appointed Shevchenko head of the NBU on July 16, 2020, before that he was the head of the board of the state-owned Ukrgasbank.

Earlier, on July 1, 2020, the head of the NBU, Yakov Smoliy, resigned due to political pressure.

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Ukraine exported more than 20 million tons of grain worth $5.2 billion

Ukraine in January-August 2022 exported 20.2 million tons of main grain crops, which is a quarter less than in the same period in 2021, while foreign exchange earnings from their supplies decreased by 18% to $5.22 billion.

In terms of crops, 15.1 million tons of corn for $3.8 billion, 4.1 million tons of wheat for $1.2 billion and 0.8 million tons of barley for $0.2 billion were sold abroad in eight months of 2022, according to the website National Research Center “Institute of Agrarian Economics” on Tuesday.

The leading position in the ranking of the main importers of Ukrainian grains was retained by China, whose share in the total grain exports over this period amounted to 14.4% ($749 million). Significant parts of Ukrainian grain exports also fell on Romania (13.9%), Turkey (9.6%), Egypt (7.7%), Spain (7.0%), Poland (6.8%), the Netherlands (4.3%), Iran (3.1%) and Hungary (3.0%).

Together, the above countries bring almost 70% of the income from all exports of grain crops from Ukraine.

As reported with reference to the Ukrainian Agrarian Business Club (UCAB) association, Ukraine exported 6.9 million tons of agricultural products in September 2022 (+ 52% compared to August 2022) due to the resumption of shipping with food cargo from the three Black Sea ports of the country to under the Istanbul Grain Agreements. In terms of crops, 4.4 million tons of grain crops were supplied to foreign markets, of which 2.16 million tons of corn, 1.8 million tons of wheat and 440 thousand tons of barley.

Earlier, the association reported that in August Ukraine exported 4.6 million tons of agricultural products, in July – 3.0 million tons, in June – 2.7 million tons. According to the Ministry of Agrarian Policy of Ukraine, in May agricultural exports amounted to 1.74 million tons, in April – 0.96 million tons, in March – 0.33 million tons.

Prior to the full-scale Russian military invasion, Ukraine exported an average of 5-6 million tons of agricultural products per month, mainly through its maritime infrastructure in the Black Sea.

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All winners of 2022 Nobel Prize in Physics have been announced

The Nobel Prize in Physics has been awarded to three scientists – Frenchman Alan Aspe, American John Clauser and Austrian Anton Zeilinger, the Nobel Committee announced on Tuesday.

The committee noted that physicists received the award for research in quantum mechanics, in particular for experiments with photons and discoveries in quantum informatics.

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