Business news from Ukraine

Business news from Ukraine

Up to +25° in Ukraine at beginning of week

On Monday, April 8, there will be no precipitation in Ukraine, wind of variable directions, 3-8 m/s, temperature at night 5-10° Celsius, during the day 18-23° Celsius, reports the Ukrainian Weather Center.
In Kyiv on Monday, there will be no precipitation. Wind of variable directions, 3-8 m/s. The temperature at night will be 8-10° Celsius, during the day 21-23°.
According to the Borys Sreznevsky Central Geophysical Observatory. On April 8, the highest daytime temperature in Kyiv was 26.3° in 1975, and the lowest nighttime temperature was -6.5° in 1944.
No precipitation in Ukraine on Tuesday, April 9. Wind of variable directions, 3-5 m / s. The temperature at night will be 6-11°, during the day 20-25°.
No precipitation in Kyiv on Tuesday. Wind of variable directions, 3-5 m/s. The temperature at night will be around 10°, during the day 23-25°.

Peter Pellegrini: Russia-friendly populist elected president of Slovakia

Populist Peter Pellegrini has been elected president of Slovakia, replacing liberal Zuzana Kaputova.

Pellegrini, 48, defeated pro-Western Ivan Korc, a former diplomat, with 53% of the vote.

A former prime minister, he is an ally of Prime Minister Robert Fico and shares his dovish attitude toward Russia.

Mr. Fico and his allies now control Slovakia’s parliament, government, and soon the presidency.

Slovakia was one of Ukraine’s most staunch allies before Mr. Fico came to power in October, promising to stop supplying military supplies to the Slovak army in Kyiv. With Mr. Pellegrini’s election to replace Ms. Kaputova, Ukraine finally lost its voice of support in the EU and NATO capitals.

Mr. Fico called for an end to Western military support for Ukraine, an immediate ceasefire and peace talks with Moscow. He said that President Vladimir Putin had recently been “unfairly demonized” and claimed that Ukraine’s acceptance into NATO would mean the start of World War III.

Mr. Pellegrini’s campaign has echoed this Moscow-friendly rhetoric, accusing Mr. Korcok of being a warmonger who would send Slovak soldiers to fight in Ukraine, a constitutional power the president does not have.

On Sunday, Mr. Pellegrini promised to “ensure that Slovakia remains on the side of peace, not on the side of war.”

“You don’t have to worry that the presidential palace, as it has been for the last 10 years, will become the center of an opposition, opportunistic power that will harm the government, that will harm the state abroad and that will rejoice in the failures of the Slovak government,” he said.

After Ms. Kaputova resigns in June, Slovakia, a country that only a year ago handed over its entire fleet of MiG-29 aircraft to Ukraine, will no longer have a single high-ranking official who unequivocally supports Kyiv’s efforts to defend its territory by force.

Mr. Korchok expressed his outrage at Pellegrini’s campaign tactics, saying that it was fear that decided the outcome of the election, and “this fear was spread by those who hide in public office.”

He said of the result: “It turns out that it is possible to become president of the Slovak Republic not only by spreading hatred, stirring up passions and pushing people to the barricades, but also by portraying the opposite number, that is, me, as a war candidate. I will not forget this.”

The liberal, pro-Western opposition also accuses Mr. Pellegrini – as head of the coalition Voice party and speaker of parliament – of remaining silent as Mr. Fico destroyed Slovakia’s criminal justice system, in particular by abolishing the Special Prosecutor’s Office, which was created 20 years ago to investigate serious corruption and economic crimes.

It had investigated a number of high-ranking officials from Mr. Fico’s Smer party and overseen the prosecution of those believed to be responsible for the 2018 murders of investigative journalist Jan Kuciak and his fiancée Martina Kusnirova.

The murders were a seismic event in Slovak politics. The aftermath ended Mr. Fico’s second term as prime minister in 2018 and led to the election of the liberal, pro-Western Zuzana Kaputova as president, riding a wave of popular anger against official corruption and organized crime.

Robert Fico’s government recently targeted Slovakia’s public broadcaster, submitting plans to eliminate it and replace it with virtual state control. These plans were shelved after Peter Pellegrini’s unexpectedly poor result in the first round of the presidential election two weeks ago.

The opposition fears that a renewed Robert Fico will resubmit them – and they say that President-elect Pellegrini is unlikely to stand in his way.

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Quotes of interbank currency market of Ukraine (UAH for $1, in 01.01.2024-31.01.2024)

Quotes of interbank currency market of Ukraine (UAH for $1, in 01.01.2024-31.01.2024)

Source: Open4Business.com.ua and experts.news

Poland bans import of three batches of ice cream from Ukraine

The Polish Inspectorate for Agriculture and Food Quality (IJHARS) in Lublin has decided to ban the circulation of three batches of ice cream with a total weight of 8.48 tons imported from Ukraine due to defrosting.
The decision was immediately implemented, the inspectorate said in a post on the social media platform X on Sunday.
It is also noted that the day before IJHARS in Poznan decided to ban from the Polish market another batch of ice cream imported from Ukraine, totaling 1.44 tons, due to the lack of declaration of sweetener (aspartame) in the composition.
Earlier this week, the Polish Trade Inspectorate announced the largest ever fine of 1.5 million zlotys (about $380,000) imposed on an importing company for importing 11,500 tons of technical rapeseed and feed wheat from Ukraine as counterfeit products for further use in the form of food products.
In addition, it was decided to ban the import of 57.66 thousand tons of tomato paste from Ukraine due to the presence of mold.
A week earlier, IJHARS chief inspector Przemyslaw Rjodkiewicz said that 1.4% of batches of products from Ukraine, which the commission checked at the border, were rejected last year.

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In March, volume of currency purchase by population of Ukraine exceeded volume of its sale by $574.8 mln.

The volume of currency purchases by the population of Ukraine in March 2024 exceeded its sales by $574.8 million compared to $824.5 million in February and more than $1 billion each in January and December, the National Bank of Ukraine (NBU) said.
According to its data, the reduction in the purchase of currency with an increase in its sales in March was recorded both in the cash and non-cash markets.
In particular, if the purchase of cash currency decreased to $1 billion 783.6 million from $1 billion 844.1 million a month earlier, its sale increased to $1 billion 255.4 million from $1 billion 122.4 million.
Purchases of non-cash currency in March decreased to $271.7 million from $363.6 million the previous month, while sales increased to $303.7 million from $271.7 million.
At the same time, in the legal entity market, the purchase of foreign exchange by banks’ clients in March increased to $5.33 billion from $4.88 billion in February, while sales slightly decreased to $4.67 billion from $4.72 billion.
As for the volume of transactions between banks, after falling in February to the level of September last year – $3.51 billion, it returned to the level of January this year – $4.38 billion.
As reported, the National Bank of Ukraine (NBU), which has held the official hryvnia exchange rate at $36.5686 UAH/$1 since the end of July 2022, has switched to a regime of managed exchange rate flexibility since October 3. In March, the official hryvnia exchange rate weakened by 95 kopecks. – To $38.9974 UAH/$1, reaching a historic low of 39.3430 UAH/$1 on March 27, while in the cash market it weakened by 80 kopecks. – to UAH 39.35/$1.
In 2022, according to official statistics, the population bought $.88 billion more foreign currency than it sold, including net purchase of cash currency amounted to $1.01 billion. In 2023, net purchase of foreign currency by the population reached $4.79 billion, including cash currency – $3.63 billion. In the first quarter of this year, the population had more foreign currency by another $2.50 billion, including cash currency – by $2.15 billion.
The volume of foreign currency sales by the National Bank in March this year increased to $1.79 billion from $1.54 billion in February, but taking into account the record foreign receipts of almost $9 billion, international reserves jumped by 18% or $6.7 billion in March to a record level of $43.76 billion.

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Total revenue of top 10 companies of Ukrainian agricultural sector in 2023 increased by 35%

The total revenue of the top 10 companies in the agricultural sector in 2023 increased by 35% compared to 2022, to UAH 86.57 billion, and almost 1.5 times compared to pre-war 2021, according to the Opendatabot website.

According to the Opendatabot index, the largest profits among all the businesses in the top ten were made by the enterprises of the MHP, Kernel, and Ukrprominvest agricultural holdings.

At the same time, four poultry companies accounted for 46% of the total income of the leaders.

Thus, the leader of the most profitable companies, Myronivska Poultry Farm, which is part of the MHP agricultural holding, earned UAH 21.23 billion, which accounted for 24.8% of the total income of the agricultural sector leaders. The result was 1.5 times higher than in 2022.

The Starynska Poultry Farm of the same agricultural group earned UAH 7.13 billion and took 8.2% of the total revenues of the top 10.

Dniprovsky Poultry Complex, owned by the same agricultural group (a new company in the index), increased its figure by one third to UAH 5.37 billion and became a newcomer to the Opendatabot index with a 6.2% share in the top ten. The holding is owned by Alexander and Yulia Ryazanov.

Zorya Podillya poultry complex of Ukrprominvest agricultural holding, whose beneficiary is the son of former President of Ukraine Oleksiy Poroshenko, accounted for UAH 5.3 billion (6.1%). The company returned to the ranking after a year-long break with a 1.5-fold increase in revenues.

At the same time, the total revenue of the three companies of the MHP agricultural holding, whose beneficiary is Yuriy Kosyuk, amounted to UAH 34.32 billion, which is 40% of the total revenue of the leaders in the agricultural sector.

After the top ten leader Myronivska Poultry Farm, Lebedynskyi Seed Plant, owned by Dmytro Kravchenko’s LNZ Group, ranks second. In 2023, the company increased its revenue by 17% to UAH 15.67 billion (18%).

Two companies of Kernel Agro Holding – Druzhba Nova LLC and Enselco Agro LLC – earned UAH 14.71 billion in 2023, up 27% year-on-year. Their share in the total income of the top 10 is 17%.

Ukrprominvest is also represented in the ranking by two companies – in addition to Zorya Podillya, it includes PK Podillya. In total, they earned UAH 11.35 billion, accounting for 13% of the total revenue of the top 10 agricultural companies.

Another newcomer to the Opendatabot 2024 index, having increased its earnings by a quarter, is Zakhidnyi Buh, whose beneficiaries are Oksana Drul, Valerii Ovcharuk, and Yurii Hladun.