Business news from Ukraine

Business news from Ukraine

PM OF GEORGIA ARRIVES IN UKRAINE

Prime Minister of Georgia Irakli Garibashvili arrived in Ukraine.
“A rich program is ahead in Lviv and Kyiv, discussion of security issues, trade, economic, energy, tourism and many other issues,” Prime Minister of Ukraine Denys Shmyhal wrote in his Telegram channel.
It is reported that the Georgian delegation will take part in the constituent summit of the Crimean platform.

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On August 19, the Nomination Committee for the appointment of heads of enterprises that are especially important for the economy selected the director of the state-owned enterprise Ukrspyrt among five applicants, the Ministry of Economy reported on its website on Friday.
“Today we have selected the head of the state-owned enterprise Ukrspyrt, whose key task is to complete the program of demonopolization of the alcohol market, which is now being quite successfully implemented, and to prepare for privatization,” Deputy Prime Minister, Minister of Economy Oleksiy Liubchenko said.
The Ministry of Economy does not specify the winner of the competition.
It is clarified that at the suggestion of the recruiting company responsible for the selection of candidates, the members of the nomination committee heard the proposals of the applicants regarding their vision for the development of the enterprise and reforming the alcohol industry.
In addition, the Committee approved a list of requirements for candidates for independent members of the Supervisory Board of Ukrenergo, which will allow launching the selection process for candidates for this position.
As specified, the meeting was attended by Minister of Economy Liubchenko, Regional Manager of the International Finance Corporation (IFC) for Ukraine, Belarus, and Moldova Jason Pellmar, Head of the EU Delegation to Ukraine Matti Maasikas, First Deputy Minister of Finance Denys Ulyutin, Deputy Minister of Economy Kristina Holubytska, Deputy Minister of Energy on European Integration Yaroslav Demchenkov, Business Ombudsman Marcin Swiecicki, Head of IFC Activities in Ukraine Olena Voloshyna, Adviser to the Head of the EU Delegation to Ukraine on Competition Policy, State Aid, State-Owned Enterprises and Privatization Panos Stamoulis.

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UKRAINE ENTERS TOP 5 OF GLOBAL CRYPTOASSET PERCEPTION INDEX

Ukraine took fourth place in the rating of the global cryptoasset perception index in 2021, compiled by the U.S. analytical company Chainalysis.
According to the data on the Chainalysis website, the first three places were taken by Vietnam, India and Pakistan. Kenya took the fifth place. The United States came in eighth, China 13th.
The analytical report of the company says that Ukraine has the largest volume of transactions with crypto assets among market participants in the world. In addition, Ukraine entered the top ten countries with the highest bitcoin earnings in 2020.
The Digital Transformation Ministry, commenting on this rating, said that the fourth place, which Ukraine took in the rating, indicates the desire of citizens to use crypto assets and the need to create mechanisms for the further development of the crypto industry in the country.
“Due to the data of the blockchain company Chainalysis, we know that Ukrainians actively use cryptoassets and know how to make money on them. One of the priority goals of our ministry is to provide all the necessary conditions for the operation and development of crypto companies in Ukraine. Virtual assets will strengthen the position of Ukraine as a jurisdiction on the international map,” Deputy Minister for IT Development Oleksandr Borniakov said.

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GROWTH OF RETAIL TURNOVER IN UKRAINE SLOWS DOWN TO 10%

The turnover of retail trade in Ukraine in July 2021 year-over-year, in comparable prices increased by 10.1%, while in June it grew by 13%, the State Statistics Service said on Friday.
According to the State Statistics Service, in July compared to June 2021, retail trade grew by 6.5%.
In January-July 2021, compared to the same reporting period in 2020, retail trade turnover also increased by 13%.
The largest growth in retail trade turnover of enterprises (legal entities and individual entrepreneurs) for seven months of 2021 was recorded in Chernivtsi (by 28.8%), Ternopil (by 28.2%), Lviv (by 20.8%), Zakarpattia (by 20.7%), Khmelnytsky (19.8%), Poltava (19%), Vinnytsia (18.9%), Ivano-Frankivsk (18.1%), Rivne (15%), Zhytomyr (14.8%), Kyiv (14%), Zaporizhia (13.9%), Dnipropetrovsk (12.7%) and Chernihiv (12%) regions.

UKRAINE ALREADY HARVESTS 43.7 MLN TONNES OF EARLY GRAINS

From the beginning of the harvesting campaign as of August 20, Ukrainian farmers have harvested 43.7 million tonnes (4.2 million tonnes more per week from August 13 to August 20) of early grains and legumes, as well as oilseeds from an area of 9.2 million hectares (98% of the forecast).
According to the Information and Analytical Portal of the agro-industrial complex of Ukraine, in the context of crops, the following were threshed: wheat of 32 million tonnes from an area of 6.9 million hectares (98% of the total area under this crop), barley of 10.27 million tonnes from 2.4 million hectares (99%), rapeseed of 2.7 million tonnes from 1 million hectares (99%), peas of 560,000 tonnes from 24,000 hectares (99%).
It is specified that in six regions the grain harvest exceeded 3 million tones, namely in Kharkiv (3.45 million tonnes), Odesa (3.39 million tonnes), Dnipropetrovsk (3.36 million tonnes), Mykolaiv (3.25 million tonnes), Zaporizhia (3.22 million tonnes) and Kherson (3.11 million tonnes) regions.
According to the portal, the average yield of harvested wheat was 46.2 dt/ha, barley was 41.0 dt/ha, rape was 27.5 dt/ha, peas was 23.2 dt/ha.
The portal said the harvesting of early grains, legumes and rapeseed was completely completed by the agrarians from 12 regions. At the same time, wheat harvesting has been completed in 15 regions, barley in 17 regions, peas in 23 regions.
Agricultural producers of Khmelnytsky region became the leader in average grain yield, reaching 60.9 dt/ha. Farms in Vinnytsia, Ivano-Frankivsk, Kyiv, Ternopil and Cherkasy regions have an average yield exceeding 50 dt/ha.
According to the portal, the agrarians of Vinnytsia, Kyiv, Poltava and Sumy regions started to collect buckwheat, and Mykolaiv and Kherson regions – millet.

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DTEK OIL & GAS INCREASES GAS PRODUCTION IN JAN-JULY

DTEK Naftogaz produced more than 1.1 billion cubic meters of gas in January-July, which is more than 10% more year-over-year, the company said in a press release on Friday.
“The increase in production was made possible due to the implementation of the drilling program in 2020, as well as the completion of drilling of two wells in 2021,” the company said.
In addition, DTEK Naftogaz in 2021 carried out overhaul and stimulation operations, as well as process operations at more than 20 wells of the operating stock, the company said.
“A number of technologies that were applied at the same time were used by the company for the first time in Ukraine. DTEK’s oil and gas business remains a technological leader and a driver for the development of the oil and gas industry in Ukraine,” DTEK Oil & Gas said.
According to the company, by the end of 2021 it is planned to complete the drilling of two more wells and put into operation a modular refrigeration unit at Machukhske field. This will allow reaching a new record production rate in 2021 of 2 billion cubic meters of gas.
“Due to sustainable process development and systemic investments, we ensure the growth of gas production from year to year […]. The use of fiscal stimulating instruments by the government, as well as a stable and transparent regulatory environment, are extremely important for the further effective development of the industry,” CEO of DTEK Oil & Gas Ihor Schurov said in the press release.
By the end of 2020, DTEK Naftogaz increased natural gas production by 10.8% (by 180,000 million cubic meters) compared to 2019, to 1.84 billion cubic meters.

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