Business news from Ukraine

Business news from Ukraine

Rainy in Kiev on Friday and Saturday

On Friday, April 14, a large part of Ukraine will remain cloudy, sometimes with rain, according to the Ukrhydrometeocenter.

On the left bank and in Kyiv region at night, light rain is expected, in the eastern regions, in Transcarpathia and the Carpathians in the daytime moderate rains; in the rest of the territory without significant precipitation.

According to the Ukrhydrometeocenter, fog is expected in the western, southwestern and central regions at night and in the morning. The wind is predominantly northeasterly, 5-10 m/s.

The temperature at night will be 3-8°, daytime 10-15°, in the southern and western regions 13-18°, in Transcarpathia up to 22°; in the Carpathians at night from 2° warm to 3° frost, daytime 9-14° heat.

Friday, April 14, in Kiev, it is slightly raining at night, while during the day there are no significant precipitations. The wind is northeastern, 5-10 m/s. The temperature at night is 6-8°C, while during the day it is 11-13°C.

According to the Central Geophysical Observatory. The highest daytime temperature of April 14 in Kiev was 25.4°C in 1972, the lowest night-time temperature was -3.9°C in 1928.

On Saturday, April 15, at night in the eastern part of the country and the Carpathian region, and during the day on the Right Bank, rains are expected, sometimes with thunderstorms, and in some areas with hail; in the rest of the territory, without precipitation.

Winds are mostly south-east, 7-12 m/s. The temperature at night is 4-9° of heat, 10-15° during the day, in the south of the country in some places 16-21°; in the east and Sumy regions at night from 4°C to 1°C of frost, while during the day – 5-10° of heat.

In Kiev, Saturday, April 15, at night precipitation is not expected, while rain during the day, sometimes with a thunderstorm. The wind is mainly southeastern, 7-12 m/s. The temperature at night is 6-8° warm, while during the day it is 12-14°.

SBU arrests assets of Vadim Novinsky

According to the materials of the Security Service of Ukraine (SBU), the property of former people’s deputy, subsanctioned businessman Vadym Novinsky worth more than 3.5 billion UAH has been arrested, the special service said.

“According to the materials of the Security Service arrested the property of pro-Russian oligarch Vadim Novinsky, involved in the complicity of the aggressor country,” the SBU said in a message in the Telegram channel on Thursday.

According to its data, the list of blocked assets includes corporate rights to 40 Ukrainian enterprises and 30 gas wells, where industrial volumes of “blue fuel” are produced. The total amount of property seized is more than 3.5 billion hryvnias.

Reportedly, in order to avoid sanctions of the National Security and Defence Council, Novinsky tried to re-register his own industrial facilities to several affiliated commercial structures. To implement the deal, he engaged controlled private notaries and state registrars.

Currently, based on the materials provided by the SBU, the Ministry of Justice of Ukraine has cancelled the illegal actions of the registrars for a number of the oligarch’s companies.

As part of criminal proceedings under Article 111-2 (aiding and abetting the aggressor state) the SBU officers searched the offices of the companies and the places of work and residence of those involved. During the searches, documents, seals of non-resident companies and pro-Kremlin religious literature were found.

An investigation is under way to establish all the circumstances of the crime and bring the perpetrators to justice, the SBU said.

Investigative actions are conducted under the procedural guidance of the Office of the Prosecutor General in cooperation with the Ministry of Justice of Ukraine.

As reported, the President of Ukraine Volodymyr Zelensky’s decree of December 1, 2022 put into effect the decision of the National Security and Defense Council “On certain aspects of the activities of religious organizations in Ukraine and the application of personal special economic and other restrictive measures (sanctions)”, which sanctions were also applied to Novinsky.

The sanctions package includes 12 types of imposed restrictions, in particular, a complete blocking of assets, a ban on trade transactions, deprivation of all state awards and insignia, a ban on the withdrawal of capital outside of Ukraine, etc.

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Ukraine’s GDP in 2022 decreased by almost 30%

Ukraine’s real gross domestic product fell by 29.1% in 2022 after growing 3.4% in 2021 due to full-scale Russian military aggression, the State Statistics Service said.
According to its data, Ukraine’s nominal GDP last year was markedly higher than most analysts’ forecasts and amounted to UAH 5.191 trillion.
Gosstat specified that the deflator change for 2022 as a whole amounted to 34.3%, including 36.5% in the fourth quarter, compared to 38.1% in the third quarter, 37.7% in the second quarter and 25.5% in the first quarter.
According to his data, Ukraine’s real GDP decreased by 31.4% in the fourth quarter of last year, 30.6% in the third quarter, 36.9% in the second quarter and 14.9% in the first quarter.
According to Oleksiy Blinov, head of the analytical department of Sense Bank, in dollar terms the nominal GDP for last year was about $159 billion.
For 2021, the nominal GDP of Ukraine, according to the State Statistics Committee, was equal to 5.451 trillion UAH, or more than $200 billion.

World Bank intends to increase grant fund for Ukraine to $2 bln

Part of the donor funds for Ukraine’s quick recovery is being channeled through the new Ukraine Recovery, Rehabilitation and Reforms Trust Fund (URTF) created by the World Bank late last year, whose size the bank intends to increase to $2 billion, WB Governor David Malpass said.
“We intend to increase this fund to $2 billion and to mobilize an additional $1 billion to $2 billion from private partners,” he said Wednesday at the third ministerial roundtable in support of Ukraine, which took place at the WB and IMF spring meeting in Washington.
Malpass specified that the mechanism was created to mobilize additional support from the International Finance Corporation (IFC) of the World Bank Group, which works with the private sector and has already allocated about $150 million to Ukraine’s private sector with support from donor partners across Europe.
“We have pledged to share risks with the IFC,” the WB chief noted.
He added that the Multilateral Investment Guarantee Agency (MIGA), part of the WB Group, would also help with this task and had already provided more than $116 million in guarantees for Ukraine since the war began.
“It is critical to support the country’s long-term growth through projects in sectors such as energy infrastructure, transportation, agriculture and human capital. Our investments will be accompanied by policy and reform advice and the structuring of viable projects that can mobilize private capital,” Malpass stressed.
As World Bank Regional Director for Eastern Europe Arup Banerjee told Interfax-Ukraine in late February of this year, $295 million had been accumulated in the URTF at the time.

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CSD LAB medical laboratory opens partnership offices in frontline regions of Ukraine

CSD LAB medical laboratory is opening partner laboratory offices in the front-line regions of Ukraine.

The company told Interfax-Ukraine news agency that, in particular, CSD LAB is opening laboratories on their basis together with medical centers.

“We opened partner laboratory offices in the frontline regions of Slavyansk, Kramatorsk and Konstantinovka (Donetsk region),” the company specified.

CSD LAB reported that the company opened more than 15 lab offices together with partners during the war, including three in Ternopil, offices in Dnipro, Khmelnytsky, Drohobych, Kamyanets-Podilsky, Ivano-Frankivsk, Lutsk, Chernivtsi, Chernomorsk, Slavyansk, Kramatorsk and Konstantinivka.

Currently there are over 70 laboratory offices and biomaterial collection points in the network all over Ukraine.

CSD LAB – one of the leading laboratories in Ukraine, provides more than 1500 tests – from general blood analysis to determination of genetic disorders in the tumor by NGS method. For 12 years CSD LAB has been one of the largest pathomorphological laboratories in Eastern Europe.

CSD LAB unites six laboratories: pathomorphology, cytomorphology, oncohematology, microbiology, clinical diagnostic laboratory and molecular genetics center. Every year it conducts more than 1.5 million tests.

Production facilities and modern high-tech equipment are located in Kiev and Lviv on a total area of more than 5 thousand square meters, as well as in Moldova and Georgia.

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Romania to Limit Payments for Housing and Food for Ukrainian Refugees

Romanian authorities are introducing new rules for housing and food subsidies for Ukrainian refugees starting from May: now the money will be received only by those who have found a job, the EFE news agency reported.
In addition, those citizens of Ukraine whose children go to school in Romania will be able to count on the subsidies.
Under the new rules, the state will no longer pay housing costs to landlords who house refugees, and tenants will receive subsidies directly. Refugee camps will receive subsidies from the state as before. Details of these rules will be made public at a later date, the agency notes.
EFE explains that Bucharest has taken such measures against the background of a significant labor shortage in Romania. More than 3.8 million Ukrainians arrived in the country since February 2022, but the vast majority went to other European countries. According to Romanian authorities, about 110,000 Ukrainian refugees currently remain in the country, but less than 10 percent of them have a work contract.

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