Business news from Ukraine

Business news from Ukraine

President Zelensky and Japanese Prime Minister discussed possible visit of Japanese Prime Minister to Kiev

Japanese Prime Minister Kishida Fumio had a 30-minute phone conversation with Ukrainian President Volodymyr Zelensky, discussing Russian aggression against Ukraine and the Japanese prime minister’s possible visit to Kiev.
According to NHK television, Kishida assured that he would play an active role during Japan’s G7 presidency.
“I strongly condemned Russia’s continued aggression and said that Japan will do everything possible to help, including surviving the winter to protect the lives of Ukrainians,” he said.
For his part, President Zelenskyy expressed his deep appreciation for Japan’s position and spoke about the current situation in the country. The interlocutors also discussed the possible visit of Kishida Fumio to Ukraine, who received an invitation to visit Kiev.
“Nothing has been decided yet, but I will consider it under different circumstances,” he added.

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United Arab Emirates donates 2,500 household generators to Ukraine

The United Arab Emirates (UAE) within the framework of the humanitarian support program worth $100 million transferred 2,500 household generators to Ukraine that will help in supplying energy to critical and social infrastructure (schools, kindergartens, medical institutions, heating centers), the State Property Fund of Ukraine reported.
In the release on Friday the Fund specified that the second party of 1300 generators arrived to Ukraine in addition to the first party of 1200 units, which arrived at the end of December.
While the first generators were sent to the regions most affected by the Russian aggression – Kherson, Donetsk, Luhansk, Odessa, Mykolaiv, Zaporizhzhia and Kyiv regions, the second batch will go to facilities in Sumy, Chernihiv, Kharkiv, Dnipropetrovsk, Luhansk, Donetsk regions and Kyiv, the IGF noted.
Earlier, the local news agency WAM pointed out that they were talking about household generators with a capacity from 3.5 to 8 kilowatts.
People’s deputy Yaroslav Zheleznyak said in Telegram on Friday that a total of 669.4 thousand generators were imported to Ukraine in 2022, of which 643.8 thousand – by enterprises, and 25.5 thousand – by citizens. The most generators were imported in December – 309.4 thousand, compared to 160.9 thousand in November and almost 72 thousand in October.

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Philip Morris is ready to cooperate with AMCU on IQOS advertising

Tobacco products manufacturer Philip Morris Ukraine is ready to cooperate with the Antimonopoly Committee of Ukraine (AMCU) in its initiated investigation into the legality of advertising of tobacco heating systems IQOS as a less harmful alternative to regular cigarettes.
The company’s press service told Interfax-Ukraine news agency that the claims used by the manufacturer of IQOS when advertising tobacco heating systems were and are clear, credible and scientifically confirmed.
“There is ample evidence to support that while IQOS is not devoid of all risks, it is the best alternative to continuing to smoke. Such evidence includes thorough laboratory studies and 10 clinical trials by the company, as well as numerous independent studies, including government agencies in several EU countries such as Germany, Belgium and the Netherlands,” the manufacturer’s press office stressed in a statement.
According to the company, the AMCU inquiry into the legality of advertising IQOS will begin the process of determining whether the charges against Philip Morris Ukraine are valid. At the same time, Philip Morris Sales and Distribution LLC has not received a single message from the AMCU about the initiation of an investigation against it.
“Thousands of smokers in Ukraine have switched to IQOS and stopped smoking. It is important that consumers continue to receive reliable information and not be misled, which may encourage them to continue smoking or return to cigarettes – one of the most harmful forms of nicotine use – that are harmful to both their health and public health in general,” the company’s press service comment states.
“Philip Morris Ukraine” also reminded that the reliability of the information distributed about IQOS has previously been confirmed when the AMCU considered the application on similar accusations of another complainant.
“The company also urges the AMCU and the press to avoid expressing or disseminating premature conclusions until the evidence in the case is fully completed and to comply with proper standards and principles of law,” the Philip Morris press service stated in a comment.
As reported, the AMCU December 30, 2022 initiated a case against “Philip Morris Sales & Distribution” for possible unfair competition, as the company in advertising their systems to heat tobacco IQOS claims their greater safety for the health of smokers compared with conventional cigarettes. The office called the cause of the case the Ministry of Health of Ukraine, according to which any heating tobacco systems are dangerous and do not reduce the risks of smoking.
Philip Morris International, which includes Philip Morris Ukraine, is one of the world’s largest tobacco manufacturers. It operates in Ukraine for more than 20 years, owns a factory in the Kharkiv region. Before the Russian armed invasion the company employed about 1.3 thousand people. Before the war the factory was an export hub for more than 20 countries, in particular large markets like Japan and Egypt.
The company’s brand portfolio includes Marlboro, L&M, Chesterfield, Parliament, Bond Street and other brands. PMI also produces IQOS tobacco heating systems and tobacco sticks for them.

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European stock markets show mixed fluctuations on Friday

European stock markets are demonstrating multidirectional fluctuations in the course of trading on Friday, traders are assessing the next portion of statistical data.
The composite index of the region’s largest companies Stoxx Europe 600 had gained 0.13% to 439.90 points by 10:20 a.m. Ksk.
Germany’s DAX stock index declined during trading by 0.04%, Spain’s IBEX 35 – by 0.07%. At the same time British FTSE 100 added 0.37%, French CAC 40 gained 0.06% and Italian FTSE MIB gained 0.2%.
Germany’s retail sales rose 1.1% in November compared to the previous month, according to data from the country’s Federal Statistics Office (Destatis). Analysts polled by Trading Economics expected retail sales in the month before last to rise by 1%. The figure fell 2.8% in October, as previously reported.
Germany’s factory orders fell 5.3% in November compared with the previous month, the German Economy Ministry said. The index declined as much as possible since October 2021. Analysts, according to Trading Economics, on average expected a decrease of the index by 0.5%.
Consumer spending in France in November 2022 increased by 0.5% compared with the previous month, according to data from the National Statistics Office Insee. Analysts polled by Bloomberg expected a more robust rise of 1.1%. The consensus forecast of experts interrogated by Trading Economics provided growth of the index by 1%.
Market participants are waiting for the publication of the preliminary data on changes in consumer prices in the euro area in December, which will be made public at 12:00 KSC. Also, at that time, the European Commission will publish a composite index of confidence in the euro area economy for December.
Stellantis NV shares are down 1.2%. The European automaker must work to cut costs around the world so that it doesn’t raise the price of electric cars, keeping them “affordable” for the middle class, Chief Executive Officer Carlos Tavares said. Among the cost-cutting measures, he cited reducing the number of the company’s factories.
Norwegian hydrogen producer NEL ASA is leading the growth among the components of the Stoxx Europe 600 index, rising 6.3%. Also steadily rise in price papers of Swedish manufacturer of electrical appliances Electrolux AB (+5.2%) and the owner of the second largest in Europe clothing chain Hennes & Mauritz AB (+5%).
The leaders in the fall are the securities of Swedish media and entertainment company Viaplay Group AB, which are cheapening by 5.3%.

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

U.S. to deliver about 50 Bradley infantry fighting vehicles to Ukriane

A new package of U.S. military aid to Ukraine, including Bradley BMPs, will be announced Friday, Pentagon spokesman Patrick Ryder said.
“I can confirm that the announcement of the next batch of military aid to Ukraine is expected on Friday. As outlined by the White House, that assistance will include deliveries of Bradley combat vehicles,” he told reporters.
The Associated Press earlier reported citing U.S. officials that the U.S. will send Ukraine a new package of military aid worth $2.85 billion, which for the first time will include several dozen unified tracked Bradley platforms. This delivery will be the largest in a series of military equipment packages that the Pentagon has allocated to Kiev.
In addition to the Bradley, Ukraine will also receive HMMWV military cargo vans, MRAP armored wheeled vehicles with enhanced mine protection, as well as a large shipment of missiles and other munitions.
Reuters reported that the U.S. will supply about 50 Bradley infantry fighting vehicles to Ukriane.
Politico quoted its sources as saying that the United States for the first time will supply Ukraine with Sea Sparrow anti-aircraft missiles, ground-launched radar-guided missiles designed to intercept aircraft or cruise missiles.
The publication notes that only Taiwan has the land-based version of the Sea Sparrow in service. The US Navy and close allies use the ship-based version.

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