Business news from Ukraine

Business news from Ukraine

National Commission for Securities and Stock Market of Ukraine updated list of unreliable investment projects

The National Securities and Stock Market Commission (NSSMC) has added CopyFX and MyFundedFX trading platforms and six other investment projects to the list of unreliable ones.

According to the information published on the commission’s website on Friday, the list also includes trading platform RoboForex, trading platforms CloseOption and Abra Traders, brokerage platform AZAFOREX, investment platform Assetwise-invest.com and mining platform HashAxe.

Thus, the total number of items on the list is 302.

The NCSSM once again reminded potential investors of the significant risks associated with investing through persons whose activities in Ukraine are not regulated in any way, as well as through persons indicating false information about licensed and allegedly official activities in countries with developed financial markets.

The full list of projects is available on the NCSSM webpage in the section “Protection of Investors’ Rights”.

Ukrainian delegation in Washington handed over list of equipment for financing energy infrastructure to U.S.

The Ukrainian delegation in Washington handed over to the US partners a list of necessary equipment under the agreements at the Ukraine Recovery Conference (URC2024) in Berlin in June on the allocation of $800 million for the energy sector, Ukrainian Deputy Prime Minister and Economy Minister Yulia Sviridenko said.

“We are deeply grateful to the US for its support for the construction of passive defense systems, as well as for the $800 million funding package for the energy sector. During this visit, we provided a list of critical equipment drawn up by the Cabinet of Ministers for immediate repair,” she wrote in the network X following the visit of the Ukrainian delegation under her leadership to the United States.

At the same time, Sviridenko noted that energy was one of the key topics during her trip to the United States, the operational steps to restore which she discussed, in particular, with Deputy Energy Secretary David M. Turk.

“I appreciate David M. Turk’s clear message that the U.S. is ready to support us with both much-needed equipment and technical support for its installation,” Deputy Prime Minister and Economy Minister pointed out.

She added in the message that Russian airstrikes affected more than 50 percent of Ukraine’s energy infrastructure.

 

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In coming days in Kiev in afternoon up to 30 °

On Monday, September 2, in the south-eastern part of Ukraine, and at night and in Zhytomyr, Khmelnytsky, Vinnitsa and Odessa regions in some places small short-term rains, thunderstorms, reports Ukrhydrometcenter. In the rest of the territory without precipitation.

The wind is predominantly northeasterly, 5-10 m/s. In the eastern regions in the afternoon in some places gusts of 15-20 m/s.

The temperature at night 17-22°, in the western regions 13-18°, in the afternoon 27-32°.

In Kiev without precipitation, northeast wind, 5-10 m/s. The temperature at night about 20 °, in the daytime 28-30 °.

As reported by the Central Geophysical Observatory named after. Borys Sreznevsky, the highest temperature during the day on September 2 in Kiev was recorded in 2015 and amounted to 35.7 °, the lowest at night – 5.7 ° in 1940.

On Tuesday, September 3, in the southern part, in some places in the eastern and central regions short-term rains, thunderstorms. In the rest of the territory without precipitation.

Wind east, northeast, 7-12 m/s, in the eastern and central regions gusts of 15-20 m/s in some places.

The temperature at night is 15-20°, in western regions 12-17°. During the day 27-32°.

In Kiev without precipitation, wind east, northeast, 7-12 m/s. The temperature at night 17-19°, during the day about 30°.

 

Cyclist Dementiev wins silver at 2024 Paralympics

Ukrainian cyclist Yegor Dementiev won silver in the individual 4000-meter pursuit in the C5 class, Suspilne. Sport” on Saturday.
Dementiev reportedly finished second in the qualifying round, behind Frenchman Dorian Foulon, who broke the world record in the qualifying round with a time of 4:13.934 minutes. In the race, Dementiev steadily held on to second, closing the gap before the finish, but was unable to beat Foulon.
Individual pursuit, 4000 m
1. Dorian Foulon (France) – 4:16.169 minutes
2. Yegor Dementiev (Ukraine) – 4:17.785
3. Eluan Gardon (USA) – 4:18.880
This is the 12th medal for Ukraine at the 2024 Paralympic Games, and the first on the cycling track.

World Bank approves $415 mln to support students and teachers in Ukraine

The World Bank’s Board of Directors has approved a new $415 million systemic project in Ukraine, “Making Education Accessible and Resilient in the Face of Crisis in Ukraine” (LEARN), aimed at improving primary and secondary education in Ukraine, which will reach one million students, teachers, and school staff.
“It is crucial to mitigate the impact of war on children, especially those from the most vulnerable families, by minimizing disruptions to the learning process,” Bob Sohm, World Bank Regional Director for Eastern Europe, said in a release on Saturday night.
It is specified that the LEARN program provides for measures aimed at improving general security conditions in schools, providing free transportation for vulnerable students, teacher training, textbook procurement, and improving governance in the education sector. The project also aims to help implement a comprehensive education reform in grades 1-12 known as the New Ukrainian School (NUS), which meets EU standards, the WB said.
“The LEARN project will help thousands of Ukrainian students return to protected learning environments,” Finance Minister Sergii Marchenko said in the release.
It is specified that the project is being implemented using the financial instrument “Program-for-results” (PforR).
The Ministry of Finance notes that LEARN is aimed at improving the conditions for teaching and learning, which are implemented through subventions from the state budget to local budgets.
The WB notes that the initial funding for the LEARN program includes $235 million from the International Bank for Reconstruction and Development’s (IBRD) Assistance for Ukraine’s Necessary Credit Support (ADVANCE Ukraine) Trust Fund, $150 million from the International Development Association’s (IDA) Special Program for the Recovery of Ukraine and Moldova, and $30 million from the Ukraine Recovery, Rehabilitation, and Transformation Trust Fund (URTF). The program provides for results-based financing that can be scaled up as additional funds become available.
According to the release of the Ministry of Finance, the project agreement is expected to be signed in September 2024, and by the end of 2024, based on the achievement of pre-defined indicators, Ukraine will be able to receive $200 million to the general fund of the state budget.
The responsible executor of the PforR LEARN project in terms of supervision and coordination is the Ministry of Finance of Ukraine. At the same time, the Ministry of Education and Science of Ukraine has been designated as the lead implementing agency, which will be responsible for the implementation of the LEARN project, its monitoring and evaluation.

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Despite attacks and shutdowns, flow of people entering Ukraine increased before start of school year

The number of crossings of Ukraine’s border in the last week of summer, from August 24 to 30, decreased by 3% to 715,000, but the flow of people entering the country before the start of the new school year even increased slightly, despite massive Russian missile and drone attacks and renewed power outages.
According to the State Border Guard Service’s Facebook post, the number of entry crossings increased to 371,000 from 367,000, while the number of exit crossings fell to 344,000 from 370,000.
The number of vehicles that crossed the checkpoints over the week increased to 140 thousand from 133 thousand a week earlier, and the flow of vehicles with humanitarian cargo increased to 620 from 605.
As for the distribution of traffic by day of the week, according to the border guards, traditionally, the outbound traffic is higher on Friday-Sunday, while the inbound traffic is higher from Saturday to Monday.
The State Border Guard Service notes that as of Sunday morning, the longest queues are observed at the checkpoints on the border with Hungary – from 20 cars at Dzvinkove to 50 at Kosyno, while on the traditionally busiest Polish border, there is a queue of 25 cars at the Ustyluh checkpoint alone.
In addition, 25 cars each are waiting to cross the border at the Uzhhorod and Maly Berezny checkpoints on the border with Slovakia.
The number of people crossing the border in the last week of summer this year is roughly equal to last year’s figures: 375 thousand people entered Ukraine and 327 thousand left during the same seven days, and the flow of cars was 141 thousand.
As reported, on May 10, 2022, the outflow of refugees from Ukraine, which began with the outbreak of war, was replaced by an influx that lasted until September 23, 2022 and amounted to 409 thousand people.
However, since the end of September, possibly under the influence of news about mobilization in Russia and “pseudo-referendums” in the occupied territories, and then massive shelling of energy infrastructure, the number of people leaving has been exceeding the number of people entering. It temporarily stopped in the second half of December and early January during the holidays, but then resumed again and reached a total of 223 thousand people from the end of September 2022 to the first anniversary of the full-scale war.
During the second year of the full-scale war, the number of border crossings to leave Ukraine, according to the State Border Guard Service, exceeded the number of crossings to enter by 25 thousand, while since the beginning of the third year, the number of crossings has increased by another 77 thousand.
As Deputy Economy Minister Serhiy Sobolev noted in early March last year, the return of every 100,000 Ukrainians home results in a 0.5% increase in GDP. The Ministry of Economy has included 1.5 million people in its macroeconomic forecast for this year, while the National Bank expects an outflow of 0.4 million, which is twice as much as in 2023.
According to updated UNHCR data, the number of Ukrainian refugees in Europe as of August 19 this year was estimated at 6.084 million, and 6.655 million in the world as a whole, which is 63 thousand and 75 thousand more than two months earlier.
In Ukraine itself, according to the latest UN data as of April this year, there were 3.548 million internally displaced persons (IDPs), which is 141 thousand less than at the beginning of the year.