Business news from Ukraine

Olympics results as of July 31 – Ukraine still ranks 35th in medal standings

On the fourth day of the XXXIII Olympic Games in Paris, representatives of the Ukrainian national team competed in 9 sports, the National Olympic Committee (NOC) of Ukraine reported on its Facebook page on Wednesday.

It is reported that Ukraine ranks 35th in the medal standings with one bronze medal.

According to the results of the tournament day, Ukrainian athletes showed the following results.

Table tennis (singles): in the 1/16 finals, Margarita Pesotska lost in 5 games to Bernardet Soch from Romania (1:4) and ended her performance at the Games.

Badminton (singles): In the second round of the group stage, Polina Bugrova defeated Czech Teresa Schwabikova 1-2 (21:19, 19:21, 21:18). However, this is not enough to get out of the group.

Swimming: Denys Kesil finished 24th in the 200-meter butterfly qualifying round and did not qualify for the semifinals.

Archery: In the 1/32 finals, Mykhailo Usach lost to world ranking leader Marcus D’Almeida of Brazil (2:6).

Fencing (epee, team): in the 1/4 finals, Joan Fabi Bejura, Daria Varfolomeieva, Olena Kryvitska and Vlada Kharkiv failed to defeat the team from China (41:45).

In the tournament for the 5th-8th places, the Ukrainian team defeated Egypt (45:31) and lost to the second place in the world ranking, the South Korean team (38:45). Ukrainian fencers finished in 6th place at the Games.

Tennis: In the third round, Marta Kostiuk and Elina Svitolina played grueling three-set matches. While Marta’s match with Greece’s Maria Sakkari ended in a victory for the Ukrainian (6:4, 6:7 (5:7), 4:6), Elina was defeated by Barbara Krejcikova of the Czech Republic (6:7(5), 6:2 (4:6)).

Marta Kostiuk and Diana Yastremska withdrew from the doubles tournament in favor of the singles tournament, in which Marta is participating.

Rowing slalom (women’s single): Viktoriya Us finished 9th in the qualifiers and advanced to the semifinals.

Football (3rd round): Ukraine lost to Argentina (0:2) and ended its participation in the Olympics.

Boxing (weight category up to 80 kg): in the 1/8 finals, Oleksandr Khyzhnyak defeated ex-Ukrainian Philip Akilov, representing Hungary, by a split decision of the judges.

On July 31, Ukrainians will compete in 8 sports

Dynamics of reserves of Ukraine from 2012 to 2024, million USD

Dynamics of reserves of Ukraine from 2012 to 2024, million USD

Source: Open4Business.com.ua

USAID to launch GROW project to support Ukrainian credit unions

The United States Agency for International Development (USAID) has launched a new GROW project to support Ukrainian credit unions, according to the USAID website.

“Through a partnership with the World Council of Credit Unions, USAID will expand support for Ukrainian credit unions, enabling them to provide more loans to businesses and individual entrepreneurs,” the report said.

The initiative begins this month and will last for the next four years. The initial investment of resources will be $5 million.

The GROW project will work closely with credit unions in Ukraine to create products and partnerships that will maximize credit union outreach to Ukrainians and positively impact local communities and local economies. The project will also increase access to finance for Ukrainians seeking to start their own businesses and businesses wishing to expand their operations, particularly for micro, small and medium enterprises, cooperatives and agro-producers in rural areas of the country.

In addition, the project will support Ukraine’s long-term priorities for further integration and EU accession, in particular harmonization of the regulatory framework for credit unions with relevant EU requirements.

 

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Since beginning of year, OTP Bank’s clients have invested more than UAH 3 billion in domestic government bonds in equivalent

Since the beginning of 2024, the clients of JSC OTP BANK – individuals – have purchased domestic government bonds for a total amount of UAH 3.1 billion.
The number of transactions in the first half of the year amounted to 1897, which is 137% more than in the same period of 2023.
Investments in domestic government bonds in 2024 were made in two ways: customers purchased bonds directly at auctions of the Ministry of Finance through the OTP Bank UA app or from the Bank’s own portfolio, also using the app.
During the first and second quarters, securities totaling UAH 2.8 billion in equivalent were purchased at the Ministry of Finance auctions.
Total sales from the Bank’s portfolio by the end of the second quarter amounted to UAH 305 million in equivalent.
We remind you that the service for purchasing government bonds from its own portfolio in the OTP Bank UA application was launched two months ago, at the end of May 2024.
“Investing in domestic government bonds is not only an opportunity to support Ukraine’s financial stability in times of war, but also a good opportunity to diversify your savings and earn additional income in both hryvnia and foreign currency. Moreover, the repayment of funds is fully guaranteed by the state, so it is also a guarantee of the safety of savings. We offer our customers different ways to invest – they can buy government bonds directly from the auction or at any convenient time from the Bank’s portfolio, with the best rate, maturity, in the chosen currency, 24/7,” said Valeria Ovcharuk, product owner of OTP BANK.
In total, since the beginning of the full-scale invasion, OTP Bank’s individual clients have invested more than UAH 11.5 billion in government bonds in equivalent.
To learn more about investing in government bonds through the OTP Bank UA app, please follow the link.

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Commercial real estate renovation projects account for up to 20% of Ukrainian construction market

Commercial real estate restoration projects account for up to 20% of Ukraine’s construction market, Andriy Ozeychuk, director of Rauta engineering and construction company, told Interfax-Ukraine.
“Despite the military risks, the owners of most of the destroyed commercial real estate are investing in their restoration to restart their businesses, which allows companies to continue to operate efficiently. In particular, about 80% of commercial facilities destroyed during the full-scale invasion and located far from the war zone have already been rebuilt or are in the process of being rebuilt,” he said.
According to Mr. Ozeychuk, the figure is lower in the segment of industrial and warehouse buildings, at about 40%.
“For most of these facilities, the owners are looking for financing,” explained the Rauta director.
According to him, among the restoration projects Rauta was involved in were the Retroville shopping center (Kyiv), the production shop of the Chernihiv Automobile Plant, and the Novus supermarket in Bucha (Kyiv region).
Rauta’s experience in restoring commercial real estate shows that often an additional requirement of investors during the restoration of facilities is to improve their energy efficiency and architectural attractiveness, which allows them to optimize costs during the operation of buildings.
According to the World Bank, as of February 2024, Ukraine’s reconstruction needs were estimated at $486 billion, of which about 25% were commercial real estate.
Rauta is a leading provider of reliable construction solutions in Ukraine and the European Union.
According to Opendatabot, Rauta Group LLC was registered in Ukraine in 2014. Its authorized capital is UAH 388 thousand, and its revenue for 2022 is UAH 102.396 million.

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“Zaporizhstal” carried out overhaul of pickling unit in Cold Rolling Shop

Zaporizhstal Iron and Steel Works of Zaporizhzhia has overhauled continuous pickling unit (CPU) No. 4 in the Cold Rolling Shop (CRS) to avoid production downtime.
According to the company’s press release on Tuesday, Metinvest Promservice specialists and rolling mill operators replaced a number of parts of the unit. The repair also included replacing the drive axle of the trolley at the coil preparation area before it is fed to the BTA-4 line.
“An important effect of this repair is preventive maintenance of the equipment, prevention of unit downtime and ensuring stable operation,” the company said in a statement.
“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries around the world.
“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding (23.76%).
Metinvest Holding LLC is the management company of Metinvest Group.