Business news from Ukraine

Business news from Ukraine

Ukraine exported pig iron mainly to US, Italy and Turkey in January-August

In January-August this year, Ukraine reduced pig iron exports in physical terms by 19.8% compared to the same period last year, to 749.454 thousand tons. According to statistics released by the State Customs Service (SCS) on Friday, pig iron exports in monetary terms decreased by 19.6% to $286.447 million during the period.

At the same time, exports were carried out mainly to the United States (66.28% of supplies in monetary terms), Italy (10.03%) and Turkey (9.85%).

In the first eight months of the year, the country imported 15 tons of pig iron worth $37 thousand from Germany (in January, March, May, June, July and August, there were no imports), while in the same period in 2023, it imported 65 tons of pig iron worth $97 thousand.

As reported, in 2023, Ukraine reduced pig iron exports in physical terms by 5.8% compared to 2022 – to 1 million 248.512 thousand tons, while exports in monetary terms decreased by 26.2% to $471.467 million. Deliveries were made mainly to Poland (51.91% of supplies in monetary terms), Spain (21.41%) and the United States (13.15%).

In 2023, Ukraine imported 154 tons of pig iron worth $156 thousand from Germany (42.31%), Brazil (41.67%) and Poland (16.03%), compared to 40 tons of pig iron worth $23 thousand in 2022.

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Cyprus deprives Ihor Kolomoisky of citizenship

Ukrainian businessman Ihor Kolomoisky and seven other people have lost their “golden passports of Cyprus” after the republic’s authorities confirmed that they were obtained through fraud, misrepresentation and concealment of material facts, the Cypriot newspaper Phileleftheros reports.

“The decision, made on April 9, 2024, mentions that both before and after naturalization, he (Kolomoisky) was and remains a dubious person, and his naturalization has created and is creating a huge risk to the reputation of the Republic of Cyprus,” the newspaper writes.

It is noted that the key role in the decision was played by the fact that in his application for exceptional naturalization Kolomoisky did not mention anything related to the case of tax evasion in Russia, which was investigated by the Russian authorities in 2008, while his naturalization as a Cypriot took place two years later, in June 2010.

It is emphasized that Kolomoisky, in addition to his Cypriot citizenship, has also held Israeli and Ukrainian citizenship since 1995. At the same time, it is reported that he is being prosecuted in Ukraine on a number of episodes, as well as that the US State Department has banned him, his wife and children from entering the United States in 2021 due to his involvement in corruption during his tenure as head of the Dnipro Regional Administration.

“After an investigation by the Independent Commission, it was found that Kolomoisky was involved in serious crimes that attracted wide international attention from public and private entities with significant negative comments and accusations of fraud involving huge sums of money,” the newspaper states.

Source: https://interfax.com.ua/

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Czech and Polish railway operators temporarily canceled number of flights due to flooding

Railroad operators in the Czech Republic and Poland have temporarily canceled a number of flights due to flooding, including, according to Czech RegioJet, a temporary suspension of traffic on the section between Ostrava and Olomouc, Czech Republic, which is used by the company’s trains from Prague to Przemysl and Chop.

“We ask all passengers to postpone their current trips between Ostrava and Olomouc or Przeworów. We will inform you about further developments,” the company said on its website.

For its part, Ukrzaliznytsia clarified that as of now, both RegioJet trains from Prague to Chop and Przemysl are still in the Czech Republic and have no chance of catching their connecting Ukrainian flights.

“Therefore, we remind you that we are ready to accept passengers with tickets for today’s trains for any of our flights of the same destination in the next day to any available seats without exchanging tickets,” the Ukrainian railroad operator said.

As for passengers from Ukraine traveling to their connection in the Prague direction, Ukrzaliznytsia recommended contacting the Czech or Polish railway operator to clarify the schedule of the next flights.

“There is a high probability that passengers should plan to spend the night in the city of connection,” UZ said.

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Number of unemployed people registered in public employment service as of 30.04.2024 (in thousands)

Number of unemployed people registered in public employment service as of 30.04.2024 (in thousands)

Open4Business.com.ua

Number of Green Card contracts in Ukraine decreased by 8.7%

The number of Green Card contracts concluded in January-August 2024 decreased by 8.7% to just over a million, according to the website of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU).
According to the report, the total accrued insurance premiums under such contracts for eight months increased by 6.22% compared to the same period in 2023 – up to UAH 3.751 billion.
At the same time, the amount of claims paid increased by 16.2% to EUR 32.5 million, while the number of claims paid increased by 9.81% to 10.117 thousand.
MTIBU is the only association of insurers providing compulsory motor third party liability insurance for owners of land vehicles.
“Green Card is a system of insurance coverage for victims of road traffic accidents, regardless of their country of residence or country of vehicle registration. It covers 45 countries in Europe, Asia and Africa.
According to the decision taken by the General Assembly of the Council of the Bureau of the International System of Motor Insurance “Green Card” in Luxembourg in May 2004, Ukraine became a full member of the system on January 1, 2005.

“TAS Agro” to allocate 22 thou hectares for winter wheat in 2025 harvest

TAS Agro intends to allocate 22 thou hectares for winter wheat, the company’s press service reported on its Facebook page.
“Thanks to the updated modern agricultural machinery, it is possible to ensure an efficient sowing process, combining it with the simultaneous application of granular fertilizers,” the agricultural holding said.
TAS Agro noted that in 2024 it completely abandoned traditional plowing and started using Mini-till technology. This allows to preserve the soil structure, reduce erosion and increase its fertility, which will eventually have a positive impact on yields, the agricultural holding explained.
At the same time, TAS-Agro continues harvesting soybeans on 16 thousand hectares.
“Harvesting started in the best possible time. Teams of specialists are using modern methods and equipment to ensure high harvesting efficiency and minimize losses,” the agricultural holding added.
TAS Group was founded in 1998. Its business interests include the financial sector (banking and insurance segments) and pharmacy, as well as industry, real estate, and venture capital projects.
Before the war, TAS Agro Group cultivated 83 thousand hectares in Vinnytsia, Kyiv, Kirovohrad, Chernihiv, Mykolaiv, Sumy, Kherson, and Dnipro regions, where it grows soybeans, sunflower, rapeseed, wheat, barley, and corn. In addition, the agricultural holding is engaged in dairy farming (up to 5.5 thousand heads of cattle) and owns six elevators with a one-time storage capacity of 250 thousand tons.
The founder of TAS is Sergey Tigipko.

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