Business news from Ukraine

Business news from Ukraine

TURNOUT IN LOCAL UKRAINIAN ELECTIONS TO BE 55-65%

Chairman of the Verkhovna Rada Dmytro Razumkov predicts that the turnout in local elections will be 55-65%.
“As practice shows, the turnout in local elections is slightly less than in parliamentary or presidential ones, but it will remain give or take 55-65%,” Razumkov said at a press conference in Kharkiv on Thursday.
At the same time, according to him, given the fact that elections to territorial communities will be held in Ukraine under the new system, the interest of voters may be higher.
On July 30, a resolution of the Verkhovna Rada came into force on the appointment of elections to local authorities for Sunday, October 25, this year.
It is envisaged that on October 25 “regular elections of deputies of local councils and village, settlement, town heads” will take place, except for the annexed Crimea and the occupied territories of Donbas.

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CITIZENS OF UKRAINE CAN FLY ON VACATION TO BULGARIA, TURKEY, EGYPT, ALBANIA, MONTENEGRO AND CROATIA

As of July 29, Ukraine can freely fly on vacation to the following six countries: Bulgaria, Turkey, Egypt, Albania, Montenegro and Croatia, Minister of Infrastructure Vladyslav Krykliy said on his Telegram channel on Wednesday.
He said that it is possible to get to Bulgaria only if there is a negative test for coronavirus (COVID-19) disease, made within 72 hours before arrival. In order to get to Croatia the travelers have to show mandatory negative PCR test at entry, made within the last 48 hours. He said that after visiting Montenegro, a 14-day self-isolation upon arrival in Ukraine is required.
According to the minister, entry and return to Turkey, Egypt and Albania are without restrictions.
Krykliy also said that a PCR test can be done before departure, right at the airport, namely, at Boryspil, Lviv and Odesa airports, as the PCR laboratories have been installed for quick testing.
“The data on entry changes every day depending on the epidemiological situation in the countries. Therefore, be sure to check the information before traveling,” he also said

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INTERFAX-UKRAINE TO HOST PRESS CONFERENCE ‘WHO DESTROYED UKRAINE’S HORSE BREEDING AND HOW TO SAVE THE INDUSTRY, AND WHY? THE OPINION OF THE HEADS OF HORSE BREEDING ENTERPRISES’

On Thursday, July 30, at 14:00, the press center of the Interfax-Ukraine News Agency will host a press conference entitled “Who Destroyed Ukraine’s Horse Breeding and How to Save the Industry, and Why? The Opinion of the Heads of Horse Breeding Enterprises.” Participants include Director of Oleksandria stud farm of State-owned enterprise Horse Breeding of Ukraine Oleh Rodionov; Director of Dubrovsky stud farm of State-owned enterprise Horse Breeding of Ukraine Vadym Danylevsky; Director of Lozovsky stud farm of State-owned enterprise Horse Breeding of Ukraine Ihor Dubovyk; former Head of Odesa Hippodrome Kostiantyn Savchyts; President of the Anti-Corruption Entrepreneurial front Ihor Yehorov; lawyer Sabina Knysh, as well as other directors of state-owned horse breeding organizations (8/5a Reitarska Street). The press conference will be broadcast on the YouTube channel of Interfax-Ukraine. Admission of journalists requires registration on the spot.

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UKRAINE’S ECONOMY MINISTRY PREDICTS 4.6% GDP GROWTH IN 2021

The Ministry for Development of Economy, Trade and Agriculture of Ukraine predicts growth of GDP in 2021 at 4.6% with inflation of 7.3%, according to a draft resolution put on the agenda of the Wednesday government meeting.
According to the document, in 2022, GDP would grow by 4.3% with inflation of 6.2%.
According to the draft resolution, export growth is expected 2.9% next year and 6.4% in 2022, while import growth is projected at 10.6% and 10%, respectively.
The trade deficit will amount to $10.4 billion in 2021 and $13.6 billion in 2022, the ministry said.

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KYIV-BASED LAVINA MALL GETS UAH 169 MLN NET LOSSES IN Q2

Lavina Mall LLC (Kyiv), the owner of Kyiv-based Lavina Mall located at 6, Berkovetska Street, saw UAH 169.1 million in net loss in April-June 2020 compared with UAH 92.6 million of profit a year ago. The company reported in the information disclosure system of the National Securities and Stock Market Commission of Ukraine, that in Q2 2020 its revenue fell by 28% year-over-year, to UAH 301.4 million.
In the second quarter compared with the first one, the company’s net loss decreased 18.3%, revenue increased 40%.
Gross profit decreased 5.7% and amounted to UAH 184.1 million, while operating loss amounted to UAH 21.9 million compared with profit in the second quarter of last year.
The uncovered loss of Lavina Mall LLC increased 2.3-fold, to UAH 296.7 million. Noncurrent liabilities increased slightly to UAH 1.637 billion, current grew by 17.8%, to UAH 2.316 billion.
The company’s assets in the second quarter increased 5% and amounted to UAH 4.4 billion.
Lavina Mall LLC was founded in 2013. The main activity is the leasing and operation of own and rented property.

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LEMTRANS INCREASES FREIGHT TRANSPORTATION IN H1

The transport and forwarding company Lemtrans transported 31.38 million tonnes of various types of freight in January-June 2020, which is 26% more than on the same period of 2019.
In the six months of 2020, iron ore raw materials and coal accounted for the bulk of loading, totaling 12.57 million tonnes (8.15 million tonnes in January-June 2019) and 11.45 million tonnes (10.44 million tonnes in January-June 2019), respectively, the company’s press service told Interfax-Ukraine.
Volumes of transportation of ferrous metals in the first half of 2020 amounted to 4.02 million tonnes (3.83 million tonnes in January-June 2019), shipments of fluxing materials totaled 1.44 million tonnes (1.12 million tonnes in January-June 2019), and those of coke 1.26 million tonnes (0.99 million tonnes in January-June 2019).
The company said that despite the economic crisis caused by the coronavirus (COVID-19) pandemic it had signed new contracts on freight transportation in the second quarter of 2020.
A total of 3,516 freight cars underwent scheduled maintenance over the first six months of 2020.
Lemtrans is the largest private operator of railway rolling stock in Ukraine. Its core business is organization of transportation by own rolling stock, rendering transport and forwarding services, information support for cargo movement, as well as rolling stock repairs.
Lemtrans fully belongs to SCM Group.

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