Business news from Ukraine

Business news from Ukraine

Optima plans to expand specialties, plans to establish university

Optima Distance College is planning to expand its list of majors to include humanities and eventually establish a university, Optima School director Olga Bilodid told Interfax-Ukraine news agency on Thursday.

“Now there are five of them (specialties), but there is an intention to develop, and the range of specialties will definitely expand,” Bilodid said.

According to her, Optima College graduates receive a junior bachelor’s degree and have the opportunity to enter the college after both the 9th and 11th grade.

Belodid added that the creation of an Optima university is currently on the agenda for the future.

“We are persistently looking in this direction and think that this intention will be realized, but we still need to understand how to implement it in the realities of our country,” said the director of Optima School.

According to the website, Optima Distance College is a project of the largest distance school in Ukraine, Optima. The college offers five specialties: entrepreneurship and trade, psychology, computer science, marketing, and graphic design. The tuition fee is UAH 2 thousand per month, regardless of the specialty.

Source: https://www.youtube.com/watch?v=c47lKOfQ9GA

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Export changes in % to previous period up to apr 2024

Export changes in % to previous period up to apr 2024

Source: Open4Business.com.ua

Yuriy Sheyko appointed first deputy energy minister of Ukraine

The Cabinet of Ministers of Ukraine has appointed Yuriy Sheiko as the first deputy energy minister, Cabinet spokesman Taras Melnychuk said.

“The Cabinet of Ministers of Ukraine appointed Yuriy Yevgenyevich Sheiko as the first Deputy Minister of Energy of Ukraine,” Melnychuk wrote in his Telegram channel following the government meeting on Friday.

Yuriy Sheiko is the acting First Vice-President – Technical Director, acting member of the Board of the joint-stock company NAEK “Energoatom”.

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Ukrainian women take silver in canoe double sprint

Ukrainians Liudmyla Luzan and Anastasiia Rybachok won a silver medal in the 500m canoe double sprint at the 2024 Olympic Games in Paris.
The athletes covered the distance in 1:54.30 minutes.
China took the first place in this event, and Canada came in third.

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Ukraine doubles exports of iron ore raw materials

In January-July this year, Ukrainian mining companies increased exports of iron ore in physical terms by 2.15 times compared to the same period last year, to 20 million 803,661 thousand tons.
According to the statistics released by the State Customs Service on Friday, foreign exchange earnings from iron ore exports increased by 76.7% to $1 billion 831.314 million during this period.
Iron ore was exported mainly to China (36.88% of supplies in monetary terms), Slovakia (16.76%) and Poland (16.33%).
In January-July 2024, Ukraine imported iron ore for $208 thousand in the total volume of 771 tons, while in January-July 2023 it imported iron ore for $81 thousand in the total volume of 118 tons. Imports this year were carried out from the Netherlands (33.97%), Poland (30.62%) and Italy (17.22%).
As reported, in 2023, Ukraine decreased exports of iron ore in physical terms by 26% compared to 2022 – to 17 million 753.165 thousand tons, foreign exchange earnings from iron ore exports amounted to $1 billion 766.906 million (down 39.3%). Iron ore was exported mainly to Slovakia (28.39% of supplies in monetary terms), the Czech Republic (19.74%) and Poland (19.56%).
Last year, Ukraine imported iron ore worth $135 thousand in the total amount of 250 tons. During this period, imports were made from Norway (34.81%), Italy (28.89%) and the Netherlands (28.89%). While in 2022, iron ore was imported for $65 thousand in a total volume of 101 tons.

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KMZ Industries has installed five elevator complexes in Cherkasy region

KMZ Industries (Karlivka Machine-Building Plant, KMZ, Poltava region) installed five elevator complexes in Cherkasy region in July 2024, the company’s press service reported on Facebook.
According to the report, in July, the construction and installation division of KMZ Industries simultaneously carried out work at all five facilities, including an elevator complex with a storage capacity of 30 thousand tons.
“We finished work at one site and immediately moved to another. This year is a very active season in Cherkasy region, where both farms and processing companies are expanding their storage capacities and upgrading elevator equipment. There is still a lot of work to be done,” said Ruslan Demchuk, regional representative of KMZ Industries.
KMZ Industries is the largest manufacturer of elevator equipment in Ukraine and produces a full range of equipment, including silos, grain dryers, transport equipment and separators, as well as provides automation and installation services. According to the company, it has sold more than 5,000 facilities. In 2012, the company acquired the assets of Brice-Baker (UK), one of the leading suppliers of elevator equipment in Europe, and in April 2021 announced a merger with the elevator business of Variant Agro Bud LLC.
According to the Clarity Project, in 2023, KMZ reduced its net profit by 3.9 times compared to 2022, to UAH 15.8 million, with revenue falling by 20% to UAH 650.2 million.
The plant ended the first quarter of this year with a net profit of UAH 35.4 million, up 3.9 times compared to January-March 2023, and revenue increased by 3.3% to UAH 71.7 million.
Dragon Capital Investments Limited (Cyprus), the ultimate beneficiary of which is Tomas Fiala, owns 80% of KMZ JSC shares, while Variant Agro Bud LLC owns 20%.

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