Business news from Ukraine

Business news from Ukraine

“Zaporizhstal” allocates UAH 8 mln for air conditioning for rolling mill

Zaporizhstal Iron and Steel Works has allocated about UAH 8 million to purchase and install a powerful air conditioner for the equipment of the BTLS-1680 rolling mill (continuous thin-sheet mill) in the Hot Strip Mill Shop.
According to the company, the important equipment requires cooling due to high operating temperatures.
It is specified that the Hisense air conditioner ensures the optimal temperature regime for the equipment of the BTLS-1680 rolling mill and ensures that the drives of the finishing stand group do not “burn out” during operation.
At the same time, it is specified that for the first time, the installation and commissioning of complex climate control equipment was carried out by specialists from the Centralized Engineering Department, Central Electrotechnical Laboratory and Metinvest-Promservice.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries around the world.
“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding (23.76%).
Metinvest Holding LLC is the management company of Metinvest Group.

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Ukraine has sown 4.75 mln hectares of winter crops for 2025 harvest – Ministry of Agrarian Policy

As of October 15, farmers in all regions of Ukraine sowed 4.75 million hectares of winter crops, up from 3.8 million hectares last week, the press service of the Ministry of Agrarian Policy and Food reports.
According to the report, winter crops are being sown in all regions. In total, almost 3.7 million hectares have been sown. In particular, winter wheat has been sown on 3.3 million hectares (2.6 million hectares a week earlier), barley on 331.7 thousand hectares (208.7 thousand hectares), rye on 51.6 thousand hectares (45.9 thousand hectares), and rapeseed on 1 million hectares (986.4 thousand hectares).
According to the Ministry, the leaders in sowing winter crops are Poltava region, which sowed 224.5 thousand hectares (90.3%), Ternopil region – 176 thousand hectares (89.3%) and Khmelnytsky region – 213.2 thousand hectares (88.8%). Farmers in 11 regions have completed sowing winter rapeseed.
As of the same date a year earlier, Ukraine sowed 4.5 mln ha of winter crops, 3.018 mln ha of wheat, 260 thou ha of barley, and 63 thou ha of rye.

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Quotes of interbank currency market of Ukraine (uah for €1, in 01.07.2024-30.07.2024)

Quotes of interbank currency market of Ukraine (uah for €1, in 01.07.2024-30.07.2024)

Open4Business.com.ua

First Central Asian University Forum to be held in Tashkent

The first Central Asian Universities Forum, organized by Times Higher Education (THE) with the support of the New Uzbekistan University, will be held in Tashkent on October 16-17 this year.

The forum will bring together more than 200 delegates from Central Asia and other countries, including representatives of academia, government policy and industry. Experts will discuss topical issues and innovative solutions that shape the future of higher education in the region.

The key topics of discussion will be:

  • Strengthening the status of young universities as reputable institutions;
  • Bringing curricula in line with labor market requirements;
  • The role of university reputation in attracting and retaining talent;
  • New partnership models for modern educational institutions.

The program of the forum will include lectures, panel discussions, workshops and experience exchange sessions, as well as presentations of the latest achievements in the field of educational technologies.

The forum will be preceded by a series of lectures by such world-renowned scientists as Jean Tirole (Nobel Prize in Economics), Luciano Recolla (one of the leading experts in theoretical astrophysics), and Eric Grimson (Chancellor and Vice President of the Massachusetts Institute of Technology).

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Increase in minimum prices for alcohol will have positive impact on country’s alcohol market – head of UkrSadVinProm

The 50% increase in minimum wholesale and retail prices for alcoholic beverages provided for in the draft law No. 11416d on introducing a number of amendments to the Tax Code of Ukraine will have a positive impact on the country’s alcohol market, Volodymyr Pechko, chairman of the board of the public association UkrSadVinProm, told Interfax-Ukraine.
He reminded that the minimum retail prices for wine and spirits have not been raised since 2018, and they are regulated by the Cabinet of Ministers.
“This will lead to an increase in tax revenues to the state budget and resolve the issue of counterfeit products,” assured the head of the industry association.
Mr. Pechko pointed out that there is currently very cheap wine on store shelves that is of extremely poor quality.
“Such a product sometimes costs 40-45 UAH/l. And compare this price with juices, which are much more expensive – this is basically impossible. In order to sell cheaply, unfortunate producers are forced to mix something into their product or dilute wine with water. Accordingly, the decision proposed by the parliament will “knock out” unscrupulous producers from the market,” explained the head of Ukrsadvynprom.
Pechko confirmed that as a result of such actions by the parliament, wine will become more expensive for the end consumer, noting that this process in relation to alcoholic beverages in the country has been going on for a long time. He explained the rise in prices for wine and vodka products by the rise in gas prices, which led to higher prices for glass containers.
In addition, crop protection products have risen in price in the 2024 season, and the price of grapes is breaking records, having almost doubled. “If wine hasn’t risen in price at the same time, it should raise questions and concern consumers. A 50% increase in the minimum retail price for alcoholic beverages is a very modest price increase. Currently, the minimum retail price subject to excise tax is 42 UAH/l, while it should be at least 95 UAH/l,” Pechko said.
The head of Ukrsadvynprom advised consumers to choose wine at a price of at least UAH 130, 150, 200 per bottle in order not to risk their health and to be sure of the quality of the product they buy.
As reported, the Verkhovna Rada adopted the law (No. 11416d) on amendments to the Tax Code regarding the peculiarities of taxation under martial law, which provides for an increase in the military tax from 1.5% to 5% starting October 1, and a 50% increase in the bank profit tax in 2024. Other new provisions include the introduction of advance payments on gas station profits, pegging the advance payment rate for currency exchange offices to the euro, increasing the minimum tax liability for agricultural land and increasing the rent for crushed stone extraction, but at the same time exempting from taxation the funds received by citizens under the national cashback program.

Source: https://interfax.com.ua/news/economic/1020444.html

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Uzbek authorities developing new master plan for Tashkent, city will be designed for at least 7.5 mln people

On October 9 this year, President of Uzbekistan Shavkat Mirziyoyev familiarized himself with the draft master plan for the city of Tashkent.

Currently, the city’s territory is 43,822 hectares and the population is over 3 million people. These figures will undoubtedly grow in the future. In this regard, a master plan for Tashkent until 2045 has been developed.

According to the project, the territory of Tashkent will be divided into three zones. The conservation zone will ensure the preservation of cultural heritage sites, historical sites, buildings, and green areas. In the reconstruction zone, additional construction will be possible based on master plans. In the renovation zone, new construction will be carried out on the site of old housing and dilapidated buildings, as well as their repair.

In particular, it is planned to triple the area of green spaces in Tashkent and its environs to 25,000 hectares. This will increase the area of green space per capita from the current 3 to 6 square meters.

According to the requirements of urban planning, residents should be able to reach the nearest kindergarten, school, hospital, shopping and service facilities from their place of residence in no more than 15 minutes. In this regard, the public transportation network will be expanded, the number of hubs and stops will be increased, new roads will be built and metro bus routes will be organized.

Tashkent’s growth is putting additional pressure on the city’s electricity, water and sewerage infrastructure. The new master plan includes measures to increase the capacity of these systems to ensure sustainable operation.

The President of Uzbekistan has set a goal to turn Tashkent into a metropolis with a population of at least 7.5 million people. To this end, it is planned to develop the districts of Tashkent region – Kibray, Zangiat, Yukorichirchik, Urtachirchik and Tashkent – on the basis of a single agglomeration with the capital.

The project is aimed at creating comfortable living and working conditions in a fast-growing metropolis, which will make Tashkent even more environmentally friendly and modern.

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