The Zhidachevsk Pulp and Paper Mill (ZhCPPM, Lviv region), produced UAH 44.35 million worth of products in January, which is 93.8% more than in January 2022.
According to statistics provided to Interfax-Ukraine agency by UkrPapir association, the output of corrugated packaging increased 2.2 times in volume terms, to 1.62 mln sq.m. In addition, the mill released 890 tons of containerboard and 359 tons of paper, which in January last year was not produced.
Zheleznodorozhnoye has a capacity of paper production (paper-base for corrugating, cardboard, linerboard) 43 thousand tons per year, cardboard production – 50 thousand tons, corrugated cardboard and corrugated packaging – 120 million square meters, molded packaging – 72 million pieces per year.
As reported with reference to the Association, in January, the total production of paper and cardboard in Ukraine by major enterprises of the industry declined by 24% compared to prewar January 2022 – to 40 thousand tons, corrugated board on 18%, to 39.3 million square meters. m.
In 2022 Zhidachevsk Paper Mill produced goods for 510.8 mln UAH, which is 23.1% more than the year before.
Italian Prime Minister Giorgia Meloni arrived in Kiev on Tuesday, her spokesman told AFP.
Meloni is expected to hold talks with Ukrainian President Vladimir Zelensky.
Nova Post Group has launched its first Nova Post branch in Katowice, bringing the total number of Polish cities covered by the branches to nine, the company’s press service said.
“You asked – we did. The nineteenth branch in Katowice, Poland is now open. As in other branches you can send and receive parcels and documents”, – said the company, noting that it will open offices in other cities.
As the release specifies, a total of 18 Nova Post offices have already been opened in Poland – in Lublin, Warsaw, Krakow, Riaszew, Poznan, Gdańsk, Wrocław and Rzeszow.
It was earlier reported that in March Nova Post will enter the second foreign market – Lithuania – and open a branch in Vilnius, Lithuania, to receive and dispatch parcels weighing up to 1,000 kg. Work is also underway to open branches in Germany.
Founded in 2001 Nova Posta is the biggest player in the Ukrainian logistics market: its network consists of about 10 ths offices and 13 ths postal terminals throughout Ukraine. The number of shipments in 2021 exceeded 372 million. Besides, the non-banking financial institution NovaPay provides services for money transfers and operations with electronic money. There were 388 million transactions in 2021.
Detailed results of GC in 2022 have not yet been announced, but its co-founder Leonid Klimov said that at the end of last year, the number of shipments recovered to 95% of the pre-war level.
The group also includes Nova Posta Global, which is developing an international partner network to provide customers with express delivery services not only in Ukraine but also abroad. The company performs regular flights to the U.S., Europe and China and delivered 9.3 million international shipments in 2021.
Dynamics of changes in level of wages in Ukraine for 2020-2022 (%)
Source: open4business.com.ua and experts.news
The US dollar is getting stronger against the euro, the yen and the pound sterling during trading on Tuesday.
Traders are awaiting the publication of the Federal Reserve System (Fed) meeting minutes from January 31 to February 1. The Federal Reserve Board decided to raise the rate by 25 basis points (bps) – to 4.5-4.75% a year.
Experts expect that the protocol may confirm the Fed’s intention to continue raising the rate longer than it was planned before, Trading Economics said.
The latest statistical data on the U.S. economy has “called into question” arguments that the Fed may soon halt its rate hike cycle or move to lower rates altogether, notes Chuck Camello, president and chief executive officer of Essex Financial Services.
“I think the market is finally coming to the realization that U.S. rates will be higher than expected, and longer than expected,” Bloomberg quoted the expert as saying.
Calculated by ICE index showing dollar dynamics against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) added 0.13% during Tuesday’s trading, broader WSJ Dollar Index added 0.15%.
The euro/dollar pair is trading at $1.0672 as of 8:10 a.m., up from $1.0687 at Monday’s market close.
The pound fell to $1.2026 from $1.2041 the day before.
The value of the American currency against the yen rose to 134.39 yen against 134.26 yen in previous trading.
The price of Brent crude oil was falling on Tuesday after a rise the day before, while WTI, which was not traded on Monday, was stable.
The oil market has remained in a narrow price range of around $11/bbl since early 2023. On the one hand, it is supported by expectations of increased demand in China after the lifting of quarantine restrictions and fears of supply reduction on the market due to the reduction of production by Russia. On the other hand – the market fears the weakening of the U.S. economy amid tighter monetary policy by the Federal Reserve (Fed), said Bloomberg.
The price of April Brent crude futures on London’s CE Futures exchange is $83.08 a barrel by 7:10 a.m. Tuesday, down $0.99 (1.18%) from the previous session’s closing price. Those contracts rose $1.07 (1.3%) to $84.07 a barrel on Monday.
The price of WTI futures for April oil grew by $0.03 (0.04%) to $76.58 per barrel at electronic trades of New York Mercantile Exchange (NYMEX) by that time. There were no major trades on the NYMEX on Monday due to a holiday in the U.S. (Presidents’ Day).
March contracts, which expire at the close of Tuesday’s session, are stable at $76.34 a barrel.
The big event this week is the release of the minutes of the latest Fed meeting, in which the benchmark interest rate was raised by 25 basis points.
“Any hawkish signals in the Fed meeting minutes will be a catalyst for lower oil prices,” notes IG Asia Pte Ltd. analyst Yep June Rong. The market, according to him, is trying to go up amid improving prospects for supply due to the economic recovery in China.
In addition, experts see signals of increased demand in India: refinery workload in the country in January rose to its maximum level for five years, notes Bloomberg.
