Business news from Ukraine

Business news from Ukraine

Poland creates experimental checkpoint to speed up passage of trucks with Ukraine

Poland is studying the possibility of creating an experimental checkpoint that would speed up the passage of trucks by joint cargo control by Polish and Ukrainian border guards, said Grzegorz Ostasz, a board member of the Polish Investment and Trade Agency (PAIT), during a conference on the development of transport communication between Ukraine and Poland.
“Poland has become a hub for the supply of important goods for Ukraine. The authorities can increase the capacity of border crossings. We proposed such a solution – to make an experimental checkpoint at which Polish and Ukrainian border guards would jointly check trucks,” the PAIT press service quoted Ostash in a release to Interfax-Ukraine on Tuesday.
According to Ostash, 870 Polish companies now do business in Ukraine, and Poland is interested in developing cooperation with Ukrainian business. “We are collecting suggestions and comments from Polish business on how we could simplify doing business in Ukraine. All proposals will be transmitted to the Ukrainian authorities by the government commissioner for the development of Polish-Ukrainian cooperation Jadwiga Emilewicz,” said Ostash.
According to a press release PAIT, the agency created a register of Polish companies that plan to enter the Ukrainian market and participate in programs to restore the country – today more than 2500 companies and organizations have expressed interest in cooperation with Ukrainian business.

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Stoltenberg to stay on as NATO secretary general for another year

NATO Secretary General Jens Stoltenberg confirmed on Tuesday that the alliance countries have decided to extend his term for another year, until October 2024.
“I am honored that NATO allies have decided to extend my term as secretary general until Oct. 1, 2024,” Stoltenberg tweeted.
The Associated Press reported last week that NATO nations had given a tentative agreement to extend Stoltenberg’s term for another year.
Earlier it became known that none of Stoltenberg’s possible successors as head of the alliance, such as Danish Prime Minister Mette Frederiksen, British Defense Minister Ben Wallace and Spanish Prime Minister Pedro Sanchez, had gained overwhelming support among the North Atlantic Alliance’s 31 member states. At the same time, Stoltenberg assured in June that he was not seeking an extension of his term in office.
Stoltenberg has been secretary general of the alliance since 2014. His term has already been extended twice. Again it expired in 2022, but because of the Ukrainian crisis he kept the post until the end of September 2023.
There is no official election of the NATO Secretary General; the Alliance appoints him based on the consensus of all member countries of the alliance.

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Turkey and Egypt raised level of diplomatic relations and appointed ambassadors for first time in 10 years

Turkey and Egypt have upgraded their diplomatic relations to ambassadorial level, appointing them for the first time in 10 years, the Turkish Foreign Ministry said Tuesday.
“Turkey and Egypt announce that diplomatic relations between the countries have been upgraded to ambassadorial level,” the media cited excerpts from a Foreign Ministry press release.
Salih Mutlu Shen, the country’s former representative to the Organization of Islamic Cooperation, was appointed the new Turkish ambassador to Egypt. The Egyptian side offered to appoint Amr Elhamami as ambassador to Ankara.
“The move is aimed at normalization between the two countries and reflects the mutual desire to develop bilateral relations in accordance with the interests of the peoples of Turkey and Egypt,” the document stressed.
Arab media recall that Turkish and Egyptian presidents Recep Tayyip Erdoğan and Abdel Fattah al-Sisi agreed to exchange ambassadors in late May. At that time, the office of the Egyptian leader said that in a telephone conversation the two presidents agreed to strengthen relations and cooperation between the two sides and therefore decided to raise the level of relations to ambassadors.
Relations between Ankara and Cairo deteriorated after the military coup in Egypt in July 2013. At that time, Turkey and Egypt recalled their ambassadors. In November 2013, Cairo declared the Turkish ambassador “persona non grata.

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Energy trader EKU transferred to budget first dividends of UAH 17 million

Energy Company of Ukraine” (“EKU”) has transferred about UAH 17 mln to pay dividends for 2022.
As noted in the release of the company on July 4, this is the first dividends received by the state from the new energy trading company, which began its commercial activities in August last year.
It is indicated that the net profit of EKU for the five months of 2022 amounted to 33.9 million UAH.
According to the decisions of the government and the State Property Fund (SPF) of Ukraine, to which the state company is subordinated, 50% of this amount shall be used to pay dividends, 30% – to counteract the armed aggression of the Russian Federation, and 20% – for the costs provided for by the financial plan of the company for 2023, the company explained.
Thus, in total, “EKU” will allocate 27 million UAH to the budget and to the fight against the Russian Federation.
“In a short time we managed to build a capable company from scratch and reach the planned level of profit. The state has strengthened its position in the energy market and began to earn in highly competitive segments, where it was almost not present before”, – commented the general director of “EKU” Vitaly Butenko, whose words are given in the release.
As Ukrainian News earlier reported, JSC Energy Company of Ukraine (EKU) is a diversified energy supplying company, which deals with buying, selling and supplying energy resources to commercial customers, including import and export operations. 100% of the company’s shares are owned by the state.

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Generation distribution in power system of Ukraine in 2022

Generation distribution in power system of Ukraine in 2022

Source: Open4Business.com.ua and experts.news

Market of new commercial cars in Ukraine grew 2.5 times – “Ukravtoprom”

Registrations in Ukraine of new commercial vehicles (trucks and special vehicles) in June amounted to 1,068 units, which is 12% more than in May this year and 2.5 times more than in June 2022, “Ukravtoprom” reported in Telegram channel.
“This is the best result in the last 17 months,” stated in the message.
At the same time, compared to the pre-war June-2021 registrations of commercial cars decreased by 26%.
The top five commercial vehicles on the market in June were: Renault – 356 units; Scania – 127 units; Volkswagen – 67 units; Peugeot – 60 units and Mercedes-Benz – 53 units.
Total, according to the Association, in the first half of the year 5,190 new trucks were added to the Ukrainian park of trucks and special vehicles, which is 61% more than during the same period last year.
In its turn, analytical group Auto-Consulting, analyzing the segment of trucks on its web-site on Tuesday, points out that in June there is again a record of their delivery to the Ukrainian market – 440 units, which is 2.2 times more than in June last year.
“And it is not a situational jump, because according to the results of six months we record the growth of the market by 89%”, – the experts state.
According to the group’s data, in June this segment of the market was headed by Scania, which managed to take 29% of the market, the second result was gained by DAF with 9%. IVECO, Renault, Volvo and Mercedes-Benz also increase their sales.
“There is a segment of trucks of 3.6-8 tons with a gross weight which is developing powerfully, where European producers are more and more present. But Chinese brands have started to actively develop the segment of communal machinery and have already achieved certain success. Now any tender on this theme consists of at least three or four proposals on the chassis of Chinese manufacturers”, – is noted in the report.
According to analysts, the high rate of recovery of the truck market is primarily due to the fact that businesses are trying to increase their own fleets to transport goods through the new logistics corridors.
As it was reported with reference to Ukravtoprom, in 2022 the market of new commercial vehicles was added 6.9 thousand new cars – 2.3 times less than in 2021.

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