Business news from Ukraine

Business news from Ukraine

Poland bans import of large batch of Ukrainian ice cream

The Polish Agricultural and Food Products Quality Inspectorate (IJHARS) in Poznan has issued a decision to ban the circulation of a batch of ice cream in cones weighing 7.13 tons imported from Ukraine.

The decision was made due to incorrect labeling, the inspectorate reported on social media platform X on Monday.

The decision was immediately enforced.

As reported, on April 12, the IJHARS banned access to the Polish market for two batches of sponge cakes weighing 10.55 thousand tons imported from Ukraine, and on April 9, three batches of Ukrainian bagels weighing 5.34 tons. Earlier, three batches of Ukrainian ice cream weighing 8.48 tons were seized in Lublin because it was defrosted.

In early April, the Polish Trade Inspectorate announced the largest fine in its history of 1.5 million zlotys (about $380 thousand) imposed on an importing company for importing 11.5 thousand tons of technical rapeseed and feed wheat from Ukraine as counterfeit goods for further use as food. In addition, a decision was made to ban the import of 57.66 tons of tomato paste from Ukraine due to the presence of mold.

In March, IJHARS Chief Inspector Przemysław Rzodkiewicz said that over the past year, 1.4% of the batches of products from Ukraine inspected by the commission at the border were rejected.

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Ukraine increased iron ore exports in tons by 2.5 times

Mining enterprises of Ukraine in January-March this year increased exports of iron ore raw materials (iron ore) in physical terms by 2.5 times compared to the same period last year – up to 9 million 4,370 thousand tons.
According to statistics released by the State Customs Service (SCS), foreign currency earnings from iron ore exports increased by 2.1 times to $863.315 million for the period.
Exports of iron ore were mainly to China (43.02% of shipments in monetary terms), Slovakia (17.02%) and Poland (12.41%).
In the first three months of 2024 Ukraine imported $67 thousand worth of iron ore in the total volume of 245 tons, while in January-March 2023 it imported $22 thousand worth of iron ore in the total volume of 36 tons. Imports were made from the Netherlands (31.82%), Norway (19.70%) and Italy (18.18%).
As reported, Ukraine in 2023 reduced exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign currency earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Exports of iron ore were mainly exported to Slovakia (28.39% of shipments in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year Ukraine imported iron ore products worth $135 thousand in the total volume of 250 tons. Imports for this period were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). Whereas in 2022, $65 thousand worth of iron ore was imported in a total volume of 101 tons.
Ukraine in 2022 decreased its iron ore exports in physical terms by 45.9% compared to 2021 – to 23 million 984.623 thousand tons, while foreign currency earnings decreased by 57.8% – to $2 billion 912.974 million. The iron ore exports were mainly to Slovakia (19.23% of shipments in monetary terms), Czech Republic (17.32%) and Poland (16.49%).
In 2022, Ukraine imported iron ore products worth $65 thousand in the total volume of 101 tons, while in 2021 – $184 thousand in the volume of 1,202 tons. Imports were made from Norway (36.92%), the Netherlands (27.69%) and the UK (16.92%).

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Samsung has become the largest smartphone vendor in the world in the first quarter of 2024

South Korean giant Samsung has become the world’s largest smartphone vendor in the first quarter of 2024, according to research firm International Data Corporation (IDC).

By the end of 2023, the leader for the first time was U.S.-based Apple Inc. Smartphone shipments in the world in the first quarter of 2024 increased by 7.8% year-on-year to 289.4 million units, IDC said in a preliminary report. The growth marked the third consecutive quarter of growth, indicating the market’s recovery from a two-year slump.

Samsung’s sales were down 0.7% year-on-year, while Apple’s sales fell 9.6%. Meanwhile, China’s Xiaomi increased shipments by a third, while the Transsion brand recorded a growth of nearly 85% and climbed to fourth on the list of the world’s largest smartphone vendors.

“As expected, the smartphone market recovery continues amid a gradual increase in optimism for leading brands,” said Ryan Rieth, vice president of Worldwide Mobility and Consumer Device Trackers. – Apple fell out of the lead late last year, but Samsung successfully regained the top spot in the first quarter.”

IDC analysts expect Samsung and Apple to continue to dominate the top price segment, but also point to the potential for further growth and diversification by brandos such as Huawei, Xiaomi, Transsion, OPPO/OnePlus and vivo.

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“Energoatom” and US Westinghouse launch project to build KhNPP-5.6 using AR1000 technology

NNEGC Energoatom and the American company Westinghouse have launched a project to build KhNPP-5 and KhNPP-6 using AR1000 technology.

The project launch ceremony took place on April 11 at the Khmelnytsky NPP site with the participation of US Ambassador to Ukraine Bridget Brink and Minister of Energy of Ukraine Herman Halushchenko (information is being delayed for security reasons).

According to Energoatom’s acting Chairman of the Board Petro Kotin, the AR1000 is a proven III+ reactor with unique fully passive safety systems, modular standard design, industry-leading performance and the ability to operate in maneuvering mode.

“This is a more modern and safer technology than the ones we are currently operating. This is a new step towards more modern, reliable and safe energy. And it is in Ukraine that the first power unit in Europe based on AR1000 technology will be built. This will be KhNPP-5,” said Kotin.

“We are proud to be involved in the history that Ukraine is making in the energy sector. We can already say that our cooperation is the wedding of the year,” said Patrick Fragman, President and CEO of Westinghouse Electric Company.

He emphasized that this is an improved technology with increased efficiency, and the power unit itself is compact and has a lower cost compared to others.

“Here, at the KhNPP site, we note that the heavy equipment, which takes the longest time to produce, is already ready, and this will significantly accelerate the construction time. Thanks to the assistance of the U.S. government and the fact that the main agreements have been signed, it will be even faster,” he emphasized.

Fragman added that the AR1000 reactor is designed to operate for 60 years, but, according to him, it is likely to be longer.

“These units allow for balancing. This is a special feature of the American AR1000 technology. Now Russian aggressors are destroying Ukraine’s balancing capacities, and if we already had such a nuclear power unit, we could maneuver it and, accordingly, perform important functions for the power system,” Galushchenko emphasized.

“This is a project for the next many years. The United States is committed to fruitful cooperation with Ukraine… Together with the U.S. Congress, we are trying to support you not only in the context of armed aggression, but also economically,” Brink emphasized.

Regarding the sources of funding for the project, Kotin said the company could finance it on its own, as it has large profits, but the lion’s share of them goes to cover the electricity tariff for households (PSO).

“Last year, Energoatom spent UAH 128 billion of its net profit on PSO. If the company is exempted from PSO, we will have $3 billion of profit for which we can build a unit. If not, we will need to take out loans,” Kotin told reporters after the ceremony.

He added that the construction period for one unit is approximately 4-5 years, and its cost is about $5 billion.

As reported, on December 17, 2023, in Kyiv, Energoatom CEO Petro Kotin and Westinghouse CEO Patrick Fragman signed a contract for the purchase of a reactor unit for Ukraine’s first nuclear power unit using AP1000 technology.

Prior to this, in July 2022, the companies signed a contract to develop an updated feasibility study for the construction of two AP1000 units at the Khmelnytsky NPP site.

In September 2021, Energoatom and Westinghouse signed a memorandum on the construction of five nuclear power units in Ukraine. In June 2022, the companies signed agreements to increase the number of nuclear power units under construction using AP1000 technology in Ukraine from five to nine units and to establish a Westinghouse engineering and technical center in the country.

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Payment of utility bills is now available in OTP Bank UA

The OTP Bank UA mobile application now offers the possibility to pay utility bills.

“It is important for us to make daily banking as high-quality and convenient as possible for our customers: money transfers, payments in stores, deposit and installment management, and now utility bills. Our app is about gentle banking, which allows our customers to manage their finances easily and simply,” said Lyudmila Vaksa, project manager at OTP Bank.

To pay for utilities in the app, you need to click on the card, select “Payments” and go to the “Utilities and Internet” section. Then you can add the address – utility bills will be displayed immediately, all information about debts or overpayments, as well as meter readings provided by the company will be displayed. It is also possible to pay a bill for a separate company, which the customer will find by name or details (account number in IBAN or EDRPOU format).

All payments in the “Utilities and Internet” section from any OTP BANK card are made without commission. Even payments from a credit card are not charged, and these payments are included in the grace period.

In the “Utilities and Internet” section, the “Payment history” menu is available, where you can view all payments made, regardless of whether the payment was made with a debit or credit card.

Please note! If any of the fields in the “Utilities and Internet” section are inactive, you should update the application to version 1.18.0 in the Play Market (for Android phones) or App Store (for iPhone phones).

State-owned energy trader ECU doubles electricity imports to support Ukraine’s power system

JSC Energy Company of Ukraine (ECU) is increasing electricity imports from the EU to compensate for losses in the Ukrainian power grid due to hostile attacks. Starting from mid-March, the daily volume of imports by the state-owned trader has increased by an average of 2 times.

The company continues to import electricity from Slovakia and Romania, and in March it also started supplying electricity from Hungary. Today, the company is the second largest importer of electricity in Ukraine.

“Over the past two years, Ukraine, together with the EU, has significantly increased its technical and organizational capabilities for electricity imports, which now plays a crucial role in the stable energy supply of consumers,” said Vitaliy Butenko, CEO of the Energy Company of Ukraine. “Given the continuing massive attacks on energy facilities, the Government of Ukraine continues to actively cooperate with European partners to obtain additional import opportunities.

Reference

Energy Company of Ukraine (ECU) is a national energy trading company that offers comprehensive solutions for the purchase, sale and management of energy resources. The company was established in 2022 without attracting or transferring state assets or property. Revenues are generated by high-tech trading products and instruments.

The company is one of the TOP-5 traders in Ukraine in terms of electricity sales, a leader in cross-border energy trading, and a TOP-2 trader of green electricity.

The company established the first state-owned balancing group of electricity market participants, which is now the second largest in Ukraine. The company’s customers generate 10% of Ukraine’s GDP. The company is 100% owned by the state.

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