Sweden will support the Grain from Ukraine initiative to ensure food security by providing an additional SEK 100 million (approximately $9.6 million) through the UN World Food Program (WFP), Swedish Prime Minister Ulf Kristersson said in a live webcast of the initiative’s summit in Kyiv on November 25.
For his part, Swiss President Alain Berset, who attended the summit, announced that Switzerland would contribute to the relief effort by providing CHF 3 million (about $3.4 million) to the World Food Program.
“As a result of Russia’s military aggression, agricultural production in Ukraine has fallen by 45%; about 11 million people in the country are dependent on food aid,” the Swiss Embassy in Ukraine said in a Facebook post.
“It is admirable how Ukraine is defending its country against Russia’s ongoing aggression and at the same time contributing to the global food supply. We support Ukraine’s efforts to export grain and other agricultural products to world markets and to the most vulnerable countries,” the Swedish government’s website quoted the Prime Minister as saying.
It is specified that since Russia’s full-scale invasion of Ukraine in February 2022, Sweden has allocated more than SEK 28 billion for various efforts to support Ukraine.
Lithuanian Prime Minister Ingrida Šimonite announced an additional EUR 2 million at the summit. Another EUR 3 million was provided by Finland.
Following the summit, President of Ukraine Volodymyr Zelenskyy said that last year, the Grain from Ukraine program managed to attract about $180 million, while this year it has raised more than $100 million.
“This is support for other countries and support for Ukrainian exports and farmers. This is very important. I think we will be able to double this figure,” the President of Ukraine said.
The Opendatabot service presented the top 10 most successful Ukrainian wholesale companies that earned the most last year. In total, these businesses earned UAH 458.95 billion in 2022, the resource reports.
According to the Opendatabot Index, almost half of the top 10 most successful Ukrainian wholesalers are businesses that sell solid, liquid, gaseous fuels and similar products, two companies sell groceries, and two sell tobacco.
“OKKO, WOG, West Petrol Market (fuel) and DTEK Trading, which sells energy products, are among the top 10 companies in the wholesale sector of the Index. The list also includes businesses that sell tobacco (Tedis Ukraine and Philip Morris Sales and Distribution). Only two companies on the list sell food: MHP (meat) and Kernel Trade (grain). The Index also includes the pharmaceutical company Optima Farm and Metinvest-SMC, the resource notes.
“Kernel Trade, a part of one of the largest agricultural holdings in Ukraine, Kernel, has remained the unchanging leader in wholesale trade in the country for the second year in a row. In 2022, its revenue amounted to UAH 67.92 billion, down 21% compared to 2021 (UAH 85.79 billion).
The second position in the ranking is occupied by OKKO, whose revenue increased 1.6 times to UAH 67.29 billion.
The top 3 is rounded out by Tedis Ukraine, a tobacco company that increased its revenue by 7% to UAH 64.95 billion.
The revenue of another company specializing in wholesale tobacco trade, Philip Morris Sales and Distribution, decreased by 15% to UAH 29.08 billion (10th place).
The fourth place in the Index was taken by MHP, whose revenue in 2022 amounted to UAH 46.73 billion and remained almost unchanged compared to 2021 (UAH 46 billion).
The fifth place on the list goes to Optima Farm, which reduced its revenue by 4% to UAH 44.34 billion.
DTEK Trading recorded the largest increase in revenue, up 1.8 times. Its revenue of UAH 36.68 billion allowed it to rise from 18th place in the 2021 ranking to seventh in the 2022 ranking.
At the same time, Metinvest-SMC reduced its revenues by 42% to UAH 29.86 billion, compared to UAH 51.39 billion in pre-war 2021.
“It is worth noting that the top 10 Ukrainian wholesalers have undergone significant changes compared to 2021. Last year, two companies specializing in energy trading dropped out of the list,” the resource notes.
We are talking about United Energy, which was the second highest earner in the country before the outbreak of full-scale war. In 2022, it earned 3.6 times less revenue than in 2021 – UAH 17.24 billion – and lost 19 rating points.
Khim-Trade also dropped out of the ranking: having reduced its revenue by 1.4 times to UAH 26.3 billion, the company dropped to the 12th position in the ranking.
Two businesses specializing in grain wholesale dropped out of the top 10 most profitable: “Nibulon in 2022 reduced its revenue by 2.7 times compared to 2021, to UAH 15.18 billion, and ADM-Ukraine by 1.5 times, to UAH 25.17 billion.
The total revenue of the top 10 wholesale trade companies last year decreased by 10% compared to the top 10 in 2021, Opendatabot summarized.
“The Opendatabot Index is an analytical tool for assessing the real situation of Ukrainian business based on data from state registers, financial statements of companies, information on relations with Russia, sanctions lists, and other analytical tools.
The New Year’s tree in Kyiv will be installed on St. Sophia Square, just like last year, at the expense of patrons, Kyiv Mayor Vitali Klitschko said.
“This decision was made today by the Kyiv Defense Council. The city will not spend any money. Just like last year, the Christmas tree will be set up and decorated at the expense of patrons. And in compliance with the regime of limiting the use of electricity. Global Decor LLC is responsible for the installation and maintenance of the main Christmas tree, all resources and financial support related to this,” Klitschko wrote on Telegram on Monday.
According to him, there will be no mass events, fairs or entertainment on St. Sophia Square. “If the city’s district state administrations plan any festive events in the districts, it will be only in compliance with safety rules in places where there are shelters. And also not at the expense of the Kyiv budget,” the mayor added.
According to Klitschko, the Christmas tree will be set up in the capital by December 6 and dismantled by January 10. This is earlier than last year, “because this year we celebrate Christmas according to the New Julian calendar,” the mayor explained.
Real GDP percentage changes over previous period in 2014-2023
Source: Open4Business.com.ua and experts.news
Oil prices continue to fall on Monday as traders await the meeting of OPEC+ ministers, which was postponed from November 26 to November 30.
The cost of January futures for Brent on the London ICE Futures exchange as of 7:20 a.m. amounted to $79.85 per barrel, which is $0.73 (0.91%) lower than at the close of the previous session. On Friday, the price of these contracts fell by $0.84 (1%) to $80.58 per barrel.
January futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) fell by $0.73 (0.97%) to $74.81 per barrel by this time. As a result of the previous trading, the value of these contracts fell by $1.56 (2%) to $75.54 per barrel.
Last week, Brent fell by less than 0.1%, WTI – by 0.7%, and both contracts ended in the red for the fifth week in a row.
According to media reports, the postponement of the OPEC+ ministerial meeting was due to disagreements within the group, in particular, the desire of Angola and Nigeria to increase production, while Saudi Arabia continues to voluntarily limit production.
These reports have eased traders’ fears of an even more significant reduction in OPEC+ production, Market Watch notes.
“Saudi Arabia is probably still ready to take on the lion’s share of the supply cuts needed to stabilize the oil market,” said Barbara Lambrecht, commodities analyst at Commerzbank. – “It therefore seems more or less obvious that the kingdom will continue to limit production in the first quarter, as the recent price decline has shown that it will suffer losses otherwise. The question is whether OPEC+ will be able to agree on additional cuts.”
Germany has extended the temporary protection of refugees from Ukraine until March 4, 2025, and residence permits will be extended automatically, the press service of the German Ministry of the Interior reports.
“The residence permits of refugees from Ukraine who fled Russian aggression and were granted protection in Germany will be valid until March 4, 2025. The Federal Ministry of the Interior has provided for this in its resolution. Today, the Federal Council approved this resolution,” the ministry said in a press release on its website on Friday.
According to the report, Ukrainian refugees “do not need to apply for an extension of their residence status, nor do they need to have any related meetings with the immigration authorities. The basis for further extension of temporary protection is the decision of the EU member states at the end of September 2023.”
“All those who were forced to flee the war will remain safe with us and will have access to education and the labor market. We have extended the term of Ukraine’s refugee protection status. The residence permits are automatically valid until March 4, 2025, without the need for refugees from Ukraine to visit the immigration service again,” said Federal Minister of the Interior Nancy Feser.
She added that the German authorities will continue to protect the lives of many Ukrainians and to support Ukraine closely.
According to the German side, there are currently about 1.1 million people living in Germany who have entered the country since February 24, 2022, in connection with Russian aggression against Ukraine. About 350 thousand of them are children and young people under the age of 18. About two-thirds of adult refugees are women.
