Business news from Ukraine

Business news from Ukraine

Akhmetov recognized again as richest citizen of Ukraine

Rinat Akhmetov, with a capital of $4.4bn, has topped the rating of Ukraine’s richest businessmen, the Forbes Ukraine website has reported.
According to the ranking, Akhmetov’s fortune dropped from $13.7bn to $4.4bn in 2022. His largest assets are the Metinvest company and the DTEK group. Akhmetov’s agricultural, energy and metallurgical businesses suffered from the war, in particular Azovstal and Ilyich Iron and Steel Works in Mariupol were lost.
The second and third place went to co-founders of the IT company Grammarly, Maxim Litvin and Oleksiy Shevchenko. The state of each decreased from $4 to $2,3 billion during the war.
Next in the ranking is Victor Pinchuk, whose fortune has decreased from $2.6 billion to $2.2 billion. His fortune is provided by his company Interpipe, real estate and cash, according to Forbes.
Konstantin Zhevago is at the bottom of the five richest people. His fortune dropped from $2.1 billion to $1.4 billion. His largest asset is the company Ferrexpo.
Also in the ranking are co-founders of the Epicenter K Group Alexander and Galina Geregi ($1.2bn), co-owner of fintech startup Revolut Vlad Yatsenko ($1.1bn), owner of Smart Holding Vadim Novinsky ($1bn), Hennadiy Boholyubov ($1bn) and Sergiy Tihipko ($870m).
The publication specifies that Ihor Kolomoyskyy, who was fourth in the ranking of the richest businessmen last year, was not included in the list in 2022 due to his loss of Ukrainian citizenship.

Ukraine’s public debt rises to $107.46bn

Ukraine’s aggregate public debt in November 2022 rose by 4.2%: in dollar terms – by $4.34 billion, to $107.46 billion, in UAH – by UAH 158.7 billion, to UAH 3.930 trillion, according to the Ministry of Finance website.

According to them, direct government debt last month increased by 4.5% to $97.69 billion, or 3.572 trillion UAH, mainly due to a loan from the European Union ($2.95 billion) and placement of government bonds ($0.56 billion, or 20.44 billion UAH).

External direct debt, in particular, rose by 6.4% or $3.68 billion to $61.48 billion, while the domestic direct debt increased by 1.6% or 20.44 billion UAH to 1.324 trillion UAH (the equivalent of $36.21 billion).

According to the Ministry of Finance, the state-guaranteed debt in November increased by 1.1% in dollar terms, or $0.1 billion – to $9.77 billion, while in UAH – by 3.83 billion UAH, to 357.4 billion UAH.

The main share of state-guaranteed debt falls on the foreign debt, which rose in November by 1.6% or $0.12 billion to $7.83 billion.

Since the beginning of 2022, Ukraine’s aggregate national debt in dollar terms increased by 9.7%, or $ 9.51 billion, while in UAH it jumped by 47.1%, or 1.258 trillion UAH.

The total external public debt of Ukraine for 11 months of this year increased by 21.2%, or $12.1 billion – to $69.3 billion, while the total internal debt – by 25.5%, or UAH 283.7 billion – to UAH 1.395 trillion.

According to the Ministry of Finance, the share of obligations in dollars at the end of November was 31.22%, in euros – 21.03%, in SDR – 13.62%, in Canadian dollars – 1.00%, in yen – 0.90%, British pounds – 0.02%, while in hryvnia – 32.21%.

The Ministry also clarified that 67.14% of the national debt has a fixed interest rate, while 13.62% is linked to the IMF rate, 6.69% – to SOFR, 4.31% – to Libor, 0.43% – to EURIBOR.

Another 3.69% of the government debt is tied to the consumer price index, while 3.74% is tied to the NBU discount rate. We are talking about government bonds from the portfolio of the National Bank, the most recent are papers with a link to the discount rate, which the NBU buys within the framework of the emission financing of the budget.

Finally, 0.38% of the government debt has a rate linked to the Ukrainian index of interest rates on deposits of individuals, used in portfolio guarantee programs.

Tariff for oil transit through Ukraine to increase by 18.3%

The tariff on the transit of oil through the territory of Ukraine to Hungary and Slovakia will increase by 18.3% from 1 January 2023 – from EUR11.5 to EUR13.6 per ton, a source in the government told the news agency Interfax-Ukraine.
The information is also confirmed by the Russian media with reference to the data on the website of the Russian Transneft.
In November, Bloomberg reported citing a letter from Ukrtransnafta to Transneft that the Ukrainian side notified the Russian side of the need to increase the tariff by 18% due to the ongoing destruction of the Ukrainian energy infrastructure, which led to a significant shortage of electricity, increasing its cost, a shortage of fuel and spare parts.
In addition, the costs of organizing safe working conditions for personnel and security of the Ukrainian oil transport operator’s facilities have increased.
As earlier reported, the tariff for transit of oil through the Ukraine for Transneft was increased from January 1, 2022 from EUR8.6/ton to EUR9/ton, from April 1, 2022 to EUR11.5/ton.
“Ukrtransnafta in 2021 reduced the transit of oil through the territory of Ukraine by pipeline transport to European countries and Belarus by 3.2% (427.2 thousand tons) compared with 2020 – to 12 million 724.8 thousand tons. In particular, the transit towards Budkovce (Slovakia) amounted to 8 million 594.3 thousand tons (+1.6% compared to 2020), 3 million 411.5 thousand tons (-10.6%) – Feneshlitke (Hungary), 719 thousand tons (-18.2%) – Mozyr (Belarus).
December 5, 2022 the EU and Great Britain imposed an embargo on the purchase of Russian oil, as well as participation of their companies in the transportation of Russian oil by sea and the provision of relevant services. Hungary, the Czech Republic and Slovakia managed to obtain an exception to the embargo on Russian oil from the EU.

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Ukrzaliznytsia appointed new trains for New Year

Ukrzaliznytsia announces the appointment of seven additional passenger trains on New Year’s Eve, six of which are in the Carpathian direction.

Train number 191/192 Kiev-Lviv on December 30. At 7:44 departure from Kiev, at 15:28 arrival in Lviv. Return trip on the same day: at 8:06 departure from Lviv, at 15:38 arrival in Kyiv.

Train #229/230 Kiev-Uzhgorod via Vinnitsa, Khmelnitsky, Ternopol, Lviv, Slavske, Mukachevo. December 29 at 20:03 departure from Kiev, December 30 at 13:23 arrival in Uzhgorod. Return trip: December 30 at 22:21 departure from Uzhgorod, December 31 at 13:40 arrival in Kiev.

Train #238/237 Odessa-Uzhgorod via Zhmerinka, Khmelnitsky, Ternopol, Lviv, Slavske, Mukachevo. December 29 at 17:00 departure from Odessa, December 30 at 12:02 arrival in Uzhgorod. Return trip: December 30 at 17:00 departure from Uzhgorod, December 31 at 11:06 arrival in Odessa.

Train № 216/215 Zaporizhzhya – Ivano-Frankivsk. December 28 and 30 at 13:05 departure from Zaporozhye, at 4:58-5:50 travel through Lviv and at 8:13 arrival in Ivano-Frankivsk. Return flights: December 29 and 31 at 15:42 departure from Ivano-Frankivsk, at 18:35-19:10 travel through Lviv and at 12:05 arrival to Zaporizhzhia.

№255/256 Kyiv-Chernivtsi via Ivano-Frankivsk and Kolomyia. Departure from Kiev on December 28, 29 and 30, arrival the next day at 5:50 in Chernivtsi. Return flights: December 29, 30 and January 1 at 17:38 departure from Chernivtsi, next day at 9:22 arrival to Kyiv.

№ 211/212 Kharkiv-Lviv. December 29 at 13:43 departure from Kharkiv, December 30 at 8:27 arrival in Lviv. Return trip: at 17:50 from Lviv arriving in Kharkiv at 12:13.

#176/175 Kyiv-Kryvyi Rih via Myronivka, Shevchenko station, Alexandria on December 30. At 6:19 departure from Kiev, at 15:07 arrival in Krivoy Rog. Return trip on the same day: at 8:09 departure

Nine Ukrainian vessels will deliver 390 thousand tons of agricultural products to Africa, Asia and Europe

Ports of “Big Odessa” last Saturday and Sunday dispatched 390 thousand tons of agricultural products within the framework of the “Grain Initiative”, the Ministry of Infrastructure of Ukraine reported.
“For the last two days, nine ships left the ports of “Big Odessa” to deliver 390 thousand tons of agricultural products to Africa, Asia and Europe, including bulk carriers ALANDA STAR and SSI PRIVILEGE with 68 thousand tons of wheat for Egypt and Indonesia, as well as tanker EUROCHAMPION with 45 thousand tons of vegetable oil for India,” the Ministry noted.
The Ministry notes that 24 ships are being processed at the ports, involved in the “grain initiative. They load more than 860 thousand tons of Ukrainian agricultural products.
“Grain corridor” also moves three vessels for the loading of 93 thousand tons of agricultural products.
At the same time, 99 ships are waiting for inspection in the Bosporus, 72 of which – to enter the ports for loading, 27 – already with Ukrainian agricultural products.
“Russia’s goal is to slow down the process of vessel inspections. First they reduced the number of inspection teams to three, now they started to drag out the time of inspections themselves. Representatives of the Russian Federation have started to check even indicators that are not stipulated in the documents of the SKC and have nothing to do with the subject of the inspection (for example, whether judicial units work well, how much fuel, etc.),” explains Deputy Minister of Community, Territory and Infrastructure Development Yuriy Vaskov.
According to him, under this algorithm, the inspection of a single ship takes four hours, which leads to a longer queue and at the same time a million losses for the cargo owners because of downtime.
According to the Ministry of Infrastructure, as of December 25, inspection group #3 had not held a single inspection, resulting in only six inspections per day out of 10 scheduled.
The agency noted that for continuous movement of grain corridor should be held at least 12 inspections per day.
In total, since August 1, 594 ships left the ports of Greater Odessa, which exported 15.5 million tons of Ukrainian food to Asia, Europe and Africa.

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“Ukrzaliznytsia” will appoint seven additional passenger trains for New Year

JSC “Ukrzaliznytsia” announces the appointment of seven additional passenger trains on the eve of the New Year, six of which in the Carpathian direction.
Train number 191/192 Kiev-Lviv on December 30. At 7:44 departure from Kiev, at 15:28 arrival in Lviv. Return trip on the same day: at 8:06 departure from Lviv, at 15:38 arrival in Kyiv.
Train #229/230 Kiev-Uzhgorod via Vinnitsa, Khmelnitsky, Ternopol, Lviv, Slavske, Mukachevo. December 29 at 20:03 departure from Kiev, December 30 at 13:23 arrival in Uzhgorod. Return trip: December 30 at 22:21 departure from Uzhgorod, December 31 at 13:40 arrival in Kiev.
Train #238/237 Odessa-Uzhgorod via Zhmerinka, Khmelnitsky, Ternopol, Lviv, Slavske, Mukachevo. December 29 at 17:00 departure from Odessa, December 30 at 12:02 arrival in Uzhgorod. Return trip: December 30 at 17:00 departure from Uzhgorod, December 31 at 11:06 arrival in Odessa.
Train № 216/215 Zaporizhzhya – Ivano-Frankivsk. December 28 and 30 at 13:05 departure from Zaporizhzhya, at 4:58-5:50 passage through Lviv and at 8:13 arrival in Ivano-Frankivsk. Return flights: December 29 and 31 at 15:42 departure from Ivano-Frankivsk, at 18:35-19:10 travel through Lviv and at 12:05 arrival to Zaporizhzhia.
№255/256 Kyiv-Chernivtsi via Ivano-Frankivsk and Kolomyia. Departure from Kiev on December 28, 29 and 30, arrival the next day at 5:50 in Chernivtsi. Return flights: December 29, 30 and January 1 at 17:38 departure from Chernivtsi, next day at 9:22 arrival to Kyiv.
№ 211/212 Kharkiv-Lviv. December 29 at 13:43 departure from Kharkiv, December 30 at 8:27 arrival in Lviv. Return trip: at 17:50 from Lviv arriving in Kharkiv at 12:13.
#176/175 Kyiv-Kryvyi Rih via Myronivka, Shevchenko station, Alexandria on December 30. At 6:19 departure from Kiev, at 15:07 arrival in Krivoy Rog. Return trip on the same day: 8:09 departure from Kryvyi Rih, 16:26 arrival in Kiev.

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