Business news from Ukraine

Business news from Ukraine

Ukrainian President meets with foreign ministers of Estonia, Iceland, Latvia, Lithuania, Norway, Finland and Sweden

Ukrainian President Vladimir Zelensky held meetings with the foreign ministers of Estonia, Iceland, Latvia, Lithuania, Norway, Finland and Sweden, who arrived on a visit to Kiev.
“Met with the foreign ministers of Estonia – Urmas Reinsalu, Iceland – Tordis Kolbrun Gylfadottir, Latvia – Edgars Rinkevics, Lithuania – Gabrielius Landsbergis, Norway – Anniken Uitfeldt, Finland – Pekka Haavisto and Sweden – Tobias Billström,” Zelensky wrote in Telegram Monday.
“This visit is an important signal of strong support and solidarity of partner countries with Ukraine, especially in times of serious challenges. I thank the Baltic and Nordic countries for their invariably active and effective assistance to Ukraine in defending its territorial integrity and independence,” the Ukrainian head of state added.

The Experts Club and the Exporters Club will help Ukrainian businesses to enter the international market

The Kyiv analytical center “Club of Experts” together with the consulting company “Club of Exporters of Ukraine” and the information portal Open4business launched a new project to help Ukrainian businesses achieve success in international markets.

According to the founders of the project, at the first stage, a series of video courses will be created on the YouTube platform, with the help of which it will be possible to get acquainted with the peculiarities of doing business in the EU countries, importing and exporting goods, European certification rules, etc.

“Thanks to our project, businesses will be able to receive prompt advice and assistance from our representatives both in Europe and in Ukraine,” said Maxim Urakin, founder of the Club of Experts.

According to Evgenia Litvinova, CEO of the Ukrainian Exporters Club, the business project will include not only a series of training videos, but also the possibility of providing specialized advice to those companies that want to quickly and cost-effectively enter the European and global markets.

“For each consulting assignment of our client, we carefully select a project team, which is formed from internal and external experts who are specialists in the required industries. The presence of good contacts and reputation within the country, both in industries and with various government agencies, allows us to quickly and efficiently implement projects,” Litvinova said.

For individual advice on doing business in the EU and other countries of the world, you can fill out the online form at the link:

https://docs.google.com/forms/d/e/1FAIpQLSeit-dG6SJ9E9QtDSZ4ggqQEmn1RHyAMKfDqO90Db4cDn1ZEA/viewform

Project partners:

Exporters Club: https://people2people.com.ua/ru/

Portal Open4business: https://open4business.com.ua

Expert club channel: https://www.youtube.com/@user-nz9lh8yg9g

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In Ukraine 4 times increased demand for rental of country houses with generators

Demand in the Ukrainian countryside real estate market has increased significantly in autumn 2022, most actively looking for houses with a generator, basement and own well, follows from the analytics of the portal “OLX Real Estate”.
“Ukrainians this fall were more interested in renting suburban real estate than last year. Thus peak of inquiries coincided with the large-scale bombardment of infrastructure on October 10 and 17 (38 thousand and 37 thousand inquiries respectively), and also with the statements about the possible blackout on October 31 (32 thousand). Overall, interest in out-of-town rentals in mid-November 2022 was three times higher than in November 2021,” the portal reported.
The most popular regions for the rent of a country house were Zakarpattya, Chernigov and Ivano-Frankivsk regions. At the same time the most number of variants are offered in Kiev, Dnepropetrovsk and Odessa regions.
More than half of the houses for rent are located within the city limits (54%), up to 15 km from the city – 39% of ads, 20-50 km – 8%.
The most popular offers of country houses on site OLX are brick houses (77% of ads), insulated with mineral wool (52%) with individual gas heating (57%).
According to OLX, the number of ads with the proposal to rent a country house with a generator during the fall has increased six-fold – up to 1177. There are 3,034 ads with homes with a well, with a basement – 441, and their number in November decreased by 12% compared to September.
Meanwhile, demand for homes with a generator quadrupled in the fall to 10 potential renters per listing.
According to OLX, the average cost of renting a house with a generator in the Kiev region is 80.4 thousand UAH per month, in Odessa – 43.8 thousand UAH per month, Dnipropetrovsk – 35.9 thousand UAH per month, Ivano-Frankivsk – 32.9 thousand UAH per month, Transcarpathian – 26 thousand UAH per month. The cheapest house with a generator is in Lviv region – on average for 25 thousand UAH/month.
Houses with a basement are from 21.9 thousand UAH/month in Ivano-Frankovsk region to 58.5 thousand UAH/month in Transcarpathian region, houses with a well – from 8 thousand UAH/month in Odessa region to 45 thousand UAH/month in the Kiev region.

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Stagflation will be key risk for global economy in 2023 – experts

Stagflation will be a key risk for the global economy in 2023, according to investors who say hopes of a market rally are premature after this year’s massive sell-off.
Nearly half of the 388 respondents in the new MLIV Pulse survey said a scenario in which economic growth continues to slow while inflation remains high will dominate the world next year. A deflationary recession is considered the second most likely scenario, while a recovery with high inflation is considered the least likely scenario.
The survey results signal that next year will again be a difficult one for risky assets after central bank measures to tighten monetary policy, rising inflation and a full-scale war unleashed by Russia against Ukraine triggered the most significant stock market crash since the 2008 global financial crisis, Bloomberg writes. More than 60 percent of those surveyed say investors around the world are still overly optimistic about asset prices.
“Next year is still going to be a tough one,” said Buffalo International Fund portfolio manager at Kornitzer Capital Management Inc. Nicole Kornitzer.
“Definitely stagflation is expected at this point,” the expert notes.
Meanwhile, about 60% of those surveyed expect the dollar to weaken further. That contrasts with the October survey, when nearly half of respondents expected to hold long dollar positions ahead of the U.S. Federal Reserve (Fed) meeting in November.
“The dollar is likely to weaken over the course of 2023,” Cornitzer said. – Perhaps not very significantly, but the trend will probably be downward.”
All investors’ attention is focused on what the Fed will do next, with economic growth likely to come under even more pressure as interest rates remain high for longer. Another risk to the global economy is China’s “zero tolerance” policy to the coronavirus, experts say.
Stagflation (a word combination of stagnation + inflation) is a situation in which economic recession and a depressed economy (stagnation and rising unemployment) are combined with rising prices – inflation.
The invention of the term is attributed to British politician and Minister of Finance of the early 1970s, Ian McLeod. The expression was first used by MacLeod in a parliamentary speech in 1965.

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Ukraine exported record amounts of soybeans in new marketing year

Since the beginning of 2022/2023 marketing year (MY, September-2022 – August-2023) Ukraine exported 465 thousand tons of soybeans, which is 2.5 times more than the export figures for the same period last season and was the highest for the last three MYs.
Soybean exports in October 2022 amounted to 215 thousand tons, having decreased by 14% compared to the last month, but soybean volumes shipped to foreign markets in October exceeded last year’s October volumes by 24%.
It is specified that one of the reasons of export reduction in October was slowdown of trade in Ukrainian seaports due to uncertainty of “grain” deal prospects.
The main importers of soy from Ukraine were the EU countries (the share of 46%) and Turkey (37%), which increased the purchase of Ukrainian soybeans in September-October 2022, respectively, six times and two times compared to the same period of 2021/22 MY.
As it was reported, by November 25 in Ukraine 3.6 million tons of soybeans were harvested from 1.5 million hectares, which is 97% of the area sown with it. The average yield of soybeans was 24 cwt/ha

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Nova Poshta opens two more branches in Poland

The Nova Poshta group of companies has opened two more branches in Poland – in the cities of Gdansk and Wroclaw, the company’s press service reported on Monday.
“In particular, the new branches of Nova Post are located… in Gdansk and Wroclaw,” Nova Poshta said.
According to the press release, a total of 10 Nova Poshta branches have already been opened in Poland: in Warsaw, Krakow, Rzeszow, Poznan, Gdansk and Wroclaw, each of which employs Ukrainians who can serve both in Ukrainian and in Polish.
By the end of the year, Nova Poshta plans to open seven more post offices in Poland.
In Nova Poshta offices, packing services are available, sending to Ukraine and receiving parcels from Ukraine up to 30 kg, delivery time is from five days.
Only the sender can pay for the parcel in cash, by card or via contactless payment (ApplePay or GooglePay) at the branch.
The Nova Poshta Group of Companies includes, in particular, the companies Nova Poshta, NP Logistic, NovaPay and Nova Poshta Global.
The network has about 10,000 branches throughout Ukraine. The number of deliveries in 2021 exceeded 372 million.

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