Business news from Ukraine

South African Parliament re-elects Cyril Ramaphosa as President of country

South Africa’s parliament has re-elected Cyril Ramaphosa as president of the country after a coalition agreement between the ruling African National Congress (ANC) and opposition parties, the BBC reported on Saturday.

The new national unity government brings together Mr. Ramaphosa’s ANC, the center-right Democratic Alliance (DA) and smaller parties.

In his speech, Mr. Ramaphosa welcomed the new coalition and said voters expected the leaders to “act and work together for the benefit of all the people of our country.”

The National Assembly was in session late into the evening to vote on who would hold power in the new administration. The deal comes after weeks of speculation about who the ANC would partner with after losing its parliamentary majority for the first time in 30 years in last month’s elections.

The ANC won 40% of the vote, while the DA came in second with 22%.

ANC Secretary General Fikile Mbalula called the coalition agreement “a great step”.

This means that Mr. Ramaphosa, who succeeded Jacob Zuma as president and leader of the ANC after a fierce power struggle in 2018, was able to retain power. Mr. Ramaphosa’s next step will be to distribute positions in the cabinet, which will include members of the DA.

Speaking to lawmakers in Cape Town on Friday, John Steenhuisen, the leader of the DA, said: “Today is a historic day for our country and I think it is the beginning of a new chapter.”

The National Assembly also swore in the speaker of the ANC, and the post of deputy speaker went to the DA.

Earlier, the Experts Club think tank presented an analytical material on the most important elections in the world in 2024, more detailed video analysis is available here – https://youtu.be/73DB0GbJy4M?si=eGb95W02MgF6KzXU

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“Ukrgasvydobuvannya” received 103 diesel generators from USAID

In March-April, Ukrgasvydobuvannya JSC received 102 diesel generators funded by the United States Agency for International Development (USAID), the company’s press service said on Friday.

According to the press service, they are used as emergency stationary power sources to provide electricity to production facilities and repair bases, as well as administrative buildings. The diesel generators can also be used as mobile power sources for field crews for maintenance, repair and construction of UGV facilities.

“USAID is helping Ukraine prepare for the next winter in this way. Every day our company overcomes many challenges related to the war. In this difficult time, assistance from international partners is very important for us,” said UGV CEO Oleg Tolmachev.

In turn, the press service of Naftogaz clarified that USAID will also provide additional means of protection for the group’s gas production facilities from Russian attacks.

“We are very grateful to the international partners who have provided us with this assistance, as it is extremely important to support Ukrainian production in the face of the destruction of the country’s energy infrastructure,” said Oleksiy Chernyshov, the group’s CEO.

As reported, in 2022, Ukrgasvydobuvannya produced 12.5 bcm of natural gas (commercial), which is 3% less than in 2021. In 2023, the company produced 13.224 bcm of commercial gas, which is 0.679 bcm more than in 2022.

NJSC Naftogaz of Ukraine owns 100% of Ukrgasvydobuvannya shares.

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Ukraine will be able to export 60 mln tons of grain and oilseeds – forecast

Ukraine in 2024-2025 marketing year (July-June) can export more than 60 million tons of grain and oilseed crops and products of their processing, which will allow it to remain among the world leaders of agricultural exports, Acting Minister of Agrarian Policy and Food of Ukraine Taras Vysotskyy said.

According to the Ministry of Agrarian Policy and Food, Ukraine can collect grain crops of the new harvest at the level of about 56 million tons, of which wheat – 21 million tons, barley – about 5 million tons, corn – 28.5 million tons.

Total exports of cereals are forecast at 43 million tons, in particular wheat – 15 million tons, barley – 2.5 million tons, corn – about 25 million tons.

The ministry expects oilseeds production at the level of 22 million tons, in particular rapeseed – 4 million tons, sunflower – about 13 million tons. Ukraine may harvest 5 million tons of soybeans, which will be a record in the history of Ukraine.

Exports of oilseeds and oilseed products are expected to exceed 17 million tons.

“After two years of full-scale war, Ukraine managed to equalize the market balance of production and export of major crops. (…) The current marketing year 2023/2024 Ukraine will end with the final balances of agricultural products at the average level, as it was until 2022. In the next marketing year, agro-exports will be over 60 million tons. And this shows that Ukraine remains a guarantor of world food security”, – summarized Acting Minister of Agro-Politics.

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Ukraine increased exports of semi-finished steel products by 71.5%

In January-May this year, Ukraine increased exports of carbon steel semi-finished products in physical terms by 71.5% year-on-year to 768.207 thousand tons.

According to statistics released by the State Customs Service (SCS) on Thursday, exports of carbon steel semi-finished products increased by 55.6% to $381.078 million in monetary terms.

The main exports were made to Bulgaria (36.67% of supplies in monetary terms), Poland (12.46%) and Italy (9.88%).

In January-May 2024, Ukraine imported 5 tons of semi-finished products from Egypt for $5 thousand, while in January-May 2023, it imported 72 tons of semi-finished products from China for $133 thousand.

As reported, in 2023, Ukraine reduced exports of carbon steel semi-finished products in physical terms by 36.7% compared to 2022, to 1 million 203.454 thousand tons, while exports in monetary terms decreased by 48.9% to $608.516 million. The main exports were made to Bulgaria (36.66% of supplies in monetary terms), Poland (23.01%), and Italy (9.60%).

In addition, in 2023, Ukraine imported 96 tons of semi-finished products from China (98.26%) and Turkey (1.74%) worth $172 thousand.

In 2022, Ukraine decreased exports of carbon steel semi-finished products by 72% year-on-year to 1 million 899.729 thousand tons in physical terms and by 70.9% in monetary terms to $1 billion 191.279 million. The main exports were made to Bulgaria (26.55% of supplies in monetary terms), Poland (13.97%) and Italy (12.13%).

In 2022, Ukraine imported 5,558 thousand tons of similar products, which is 85.7% less than in 2021. In monetary terms, imports decreased by 86% to $3.634 million. Imports were made from the Russian Federation (96.92% of supplies before the war), China (1.84%), and Romania (1.21%).

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“INGO will insure risks of state enterprise Antonov for 3 million euros

On June 13, the state enterprise Antonov (Kiev) announced its intention to conclude a contract with ASK INGO (Kiev) for services of compulsory aviation insurance of civil aviation and liability insurance. As reported in the Prozorro e-procurement system, the price offer of ASK INGO amounted to UAH 2.976 mln, with an expected value of EUR 5.607 mln.

The second bidder was IC “Universalna” with a price offer of 3.348 million euros.

As reported, the tender was announced for insurance of liability of developers, manufacturers of civil aviation equipment, maintenance organizations authorized to conduct test flights, for damage caused to third parties; insurance of liability of educational institution when performing training flights for damage caused to third parties; insurance of crew members of aircraft and other aviation personnel; insurance of persons entitled to be on board the aircraft on legal grounds

The tender was also announced for civil aviation risk insurance services (insurance classes 1, 5, 11): aircraft insurance, insurance of aviation carrier’s liability for damage caused to passengers, baggage, cargo and mail; insurance of liability of commercial civil aircraft operator for damage caused to third parties.

INGO Insurance Company JSC has been providing insurance services for 30 years. Since 2017, the main shareholder is the Ukrainian business group DCH.

 

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100 delegations will take part in Peace Summit in Switzerland

The Peace Summit, which will open on Saturday, June 15, in Switzerland, will be attended by 100 delegations, of which 92 represent states from around the world and 8 – international organizations, according to the press service of the Swiss government.

“President Viola Amerd will open the Summit on Peace in Ukraine on Saturday, June 15. The summit will be attended by 100 delegations, including 57 heads of state and government from around the world. The purpose of the summit is to launch a peace process, build trust and identify ideas on the next steps towards such a process. All states present should be given the opportunity to put forward their vision of a just and lasting peace in Ukraine,” the statement said.

 

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