Business news from Ukraine

Business news from Ukraine

Number of Ukrainian citizens who believe that events in country developing in wrong direction has increased – opinion poll

The share of Ukrainian citizens who believe that events in the country are developing in the wrong direction amounted to 38.7% and exceeded the share of those who believe that events are developing correctly (37.7%), according to a sociological survey conducted by the Razumkov Center’s sociological service on March 21-27 and presented at a press conference at Interfax-Ukraine on Wednesday.

With reference to similar surveys conducted earlier, it is noted that despite the fact that the percentage of citizens who believe that events in Ukraine are developing correctly has been declining throughout 2023, up to and including the previous survey in January 2024, there were more of them than Ukrainians with the opposite view.

30.5% of respondents believe that Ukraine is able to overcome the existing problems and difficulties in the next few years, with a gradual downward trend. At the same time, only 10.5% of respondents are convinced of Ukraine’s inability to overcome all difficulties, but their percentage is gradually increasing. The percentage of those who believe that Ukraine is able to overcome the existing challenges in the longer term is also growing; in March 2024, the relative majority of respondents were 45.9%.

The Ukrainians’ assessment of their life satisfaction on a 10-point scale was 4.9 points (4.7 in January).

The survey was conducted face-to-face among 2020 respondents aged 18 and older in all government-controlled areas of Ukraine that are not undergoing hostilities, using a stratified multi-stage sampling method with random selection at the first sampling stage and a quota method of selecting respondents at the final stage. The structure of the sample population reflects the demographic structure of the adult population of the surveyed areas as of the beginning of 2022 (by age, gender, type of settlement). The theoretical sampling error does not exceed 2.3%; additional systematic sampling deviations may be due to the effects of Russian aggression.

Four drug labs were liquidated in Kyiv

Law enforcement officers exposed and served suspicion notices to seven members of a criminal group who organized four drug laboratories for the production of amphetamine and the precursor phenylnitropropene and sold banned substances in Ukraine and neighboring countries, the Prosecutor General’s Office reports.

“According to the investigation, the suspects have set up a supply channel for precursors and potent drugs, as well as processes for the manufacture and sale of amphetamine and precursors of phenylnitropropene and nitroethane throughout the country. The members of the drug group set up four drug laboratories in apartments in Kyiv region, with a capacity to produce over 50 kg of precursors per month. Of these, 40 kg of amphetamine was subsequently produced. This provided the defendants with a stable income of more than UAH 16 million per month,” the statement said.

The criminals set up a warehouse for precursors at the workplace of one of the group members, who worked in the capital’s market. The suspects sold the “products” through logistics companies using fictitious personal data, as well as to trusted persons from hand to hand. The money was received on bank cards issued to other accomplices.

Law enforcement officers conducted 23 simultaneous searches in drug labs, warehouses, residences and cars of the suspects.

Almost 400 liters of nitroethane, which could be used to synthesize about 300 kg of amphetamine, 25 kg of various precursors, more than 3 thousand MDMA pills, 430 g of amphetamine, 205 g of cannabis, laboratory equipment, weapons and ammunition, and two cars used in their criminal activity were seized.

The estimated value of the seized prohibited substances may amount to UAH 122 million.

The members of the drug group were detained in accordance with Art. 208 of the CPC of Ukraine. The issue of choosing a measure of restraint is being decided.

German industry may not recover to previous levels

German industry may not fully recover to levels seen before the energy crisis due to high prices for imported liquefied natural gas (LNG), according to Markus Krebber, chief executive of German energy company RWE.

“Gas prices in continental Europe, and especially in Germany, are structurally higher now because we are ultimately dependent on LNG imports,” he told the Financial Times. – German industry is at a disadvantage.”

Gas prices in Europe have fallen about 90 percent from peak levels seen in 2022, but remain about two-thirds higher than in 2019, the FT wrote, citing data from Argus.

Krebber criticized Angela Merkel’s government’s decision in 2011 to abandon nuclear power without finding an alternative to Russian gas.

“When you know exactly what you want to give up, you should immediately start thinking about introducing new technologies,” he said.

Analysts are pessimistic about the prospects for Germany’s economy, Europe’s largest. According to the assessment of the five leading research institutes of Germany, the country’s GDP in 2024 will grow by only 0.1% due to the decline in exports and weak domestic demand. In 2023, the German economy contracted by 0.3%.

According to S&P Global Commodity Insights, demand for natural gas in the industrial sector in Europe fell by 24% in 2023 compared to 2019. The company’s experts believe that about 6-10% of European demand will be lost irretrievably due to demand destruction.

At the same time, the U.S. has a consistent and comprehensive policy to encourage the return of production capacity to the country, Krebber said. “Europe has the same intentions, but so far there are no proper measures in place,” he added.

A survey by the German Chamber of Commerce and Industry last September showed that 43% of large industrial companies plan to move their business outside Germany, with the US a priority. Last year, German companies announced investments of $15.7 billion in projects in the U.S., compared with $8.2 billion a year earlier, according to fDi Markets.

, , ,

Two new insurance brokers were added in Ukraine in March

The number of insurance companies in Ukraine in March 2024 has not changed and as of the end of the month there are 86 risk insurers, 12 specializing in life insurance, one insurer with a special status (“Export Credit Agency”), according to the NBU website. At the same time, two insurance brokers are included in the register.

In general, the number of non-banking financial market participants in March decreased from 1,060 (as of February 29, 2024) to 1,056 (as of March 31, 2024).

,

Germany to donate 400 generators to Ukraine

The German government will donate about 400 generators to Ukraine to help fight Russian aggression, the German Embassy in Kyiv reports.

“Recent Russian air strikes have destroyed and damaged power plants in Ukraine. Millions of people, especially in Sumy and Kharkiv, were temporarily left without electricity. The German government is supplying > 400 generators to strengthen Ukraine in its fight against Russian aggression,” the statement posted on Facebook reads.

,

Dynamics of changes in discount rate of NBU – from 2013 to end of 2023

Dynamics of changes in discount rate of NBU – from 2013 to end of 2023

Source: Open4Business.com.ua and experts.news