Business news from Ukraine

Business news from Ukraine

ISRAEL’S SIMILARWEB OPENS OFFICE IN KIEV

Israel’s Similarweb, one of the leading digital intelligence companies that carried out an IPO on the New York Stock Exchange in May this year, announced the opening of two new European offices in Kyiv, Ukraine and Munich, Germany.
“Similarweb’s Kyiv office will employ over 50 R&D and IT professionals, and this number is expected to triple in the next two years,” the company said on its website.
According to the report, the Kyiv office will serve as a technical center, employing a highly skilled workforce in Ukraine, and is intended to be an important part of Similarweb’s global success.
The Munich office will carry out mainly commercial, marketing and technical functions, in particular, among the company’s clients there are already a number of leading German brands, including Adidas and DHL.
Similarweb, headquartered in Tel Aviv, clarifies that it has increased its headcount in all 13 global offices this year and plans to continue its rapid global expansion in the new year.
At the IPO in May of this year, the company was valued at $ 1.6 billion. Its revenue for the nine months of this year amounted to $ 97.52 million, an increase of 45.9% over the same period in 2020, and net losses tripled to $ 45.17 million. Free funds of the company by the end of the third quarter amounted to $ 159.1 million.
The company, founded in 2007, monitors websites and mobile apps and provides analytics and digital data to customers. According to the website, the number of its staff exceeds 800 people.

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U.S. DEPARTMENT OF AGRICULTURE INCREASES ESTIMATE OF WHEAT EXPORTS BY UKRAINE

The U.S. Department of Agriculture (USDA) in the November report increased the forecast for the export of Ukrainian wheat in 2021/22 (July-June) by 0.5 million tonnes compared to the previous month – from 23.5 million tonnes to 24 million tonnes, while maintaining the estimate of its harvest at the level of data for October – 33 million tonnes.The projected world export of wheat will be a record 203.2 million tonnes (3.5 million tonnes more than the USDA data in October), mainly due to the growth of its exports from the EU, India, Russia and Ukraine.In the November report, the U.S. Department of Agriculture also kept the forecast for the corn harvest in 2021/22 at 38 million tonnes for Ukraine, its exports at 31.5 million tonnes.

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PRESIDENT OF UKRAINE SIGNS LAW ON DEVELOPMENT OF BIOMETHANE PRODUCTION

President of Ukraine Volodymyr Zelensky has signed a law on the development of biomethane production in Ukraine (No. 5464), which was adopted by the Verkhovna Rada at the second reading on October 21. The corresponding note appeared on the page of the bill on the parliament’s website on Tuesday.According to the press service of the State Agency for Energy Efficiency and Energy Saving of Ukraine, this law lays the foundation for the production and development of biomethane in Ukraine, as well as its export to the countries of the European Union.It is specified that for this purpose it is planned to introduce the appropriate terminology, the possibility of verifying purified biogas (biomethane), the physical and chemical characteristics of which must meet the requirements of regulatory legal acts for natural gas, issuing a guarantee of origin for the volume of biomethane produced, entering a register of production and consumption of biomethane.“Development of a register of production and use of biomethane and cooperation with similar registers of EU countries is a potential opportunity to sell biomethane to other countries, confirmed by a guarantee of origin,” the message reads.It notes that, in pursuance of the State Energy Efficiency Law, work has already begun on the development of a procedure for the functioning of the biomethane register.As reported, bill No. 5464 adopted by the Verkhovna Rada regulates the concept of “biomethane” as “biogas,” which in its physical and technical characteristics corresponds to the regulatory legal acts on natural gas for supply to gas distribution and transmission networks or for use as a motor fuel.In addition, the document provides for the creation of a biomethane register for accounting in the system, establishes the procedure for the formation of guarantees of origin of biomethane.According to the Bioenergy Association of Ukraine, the potential for biomethane production in Ukraine is 8 billion cubic meters annually, which corresponds to 25% of domestic gas consumption.According to Minister of Agrarian Policy and Food Roman Leschenko, the development of biomethane production gives Ukraine every chance to become a center for its production and supply, as well as a source of energy security for Europe. Its use in production chains will allow Ukrainian farmers to obtain an alternative source of energy from waste and secondary products of their own production and, as a result, to use biomethane instead of natural gas for generating heat and electricity, as well as to use it as a fuel for transport and as a raw material for the chemical industry.

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VACCINATED UKRAINIANS CAN ENTER CZECH REPUBLIC UNDER SAME CONDITIONS

The rules of entry to the Czech Republic for vaccinated Ukrainians have been preserved, Ukrainian Foreign Minister Dmytro Kuleba has said.“The Czech Republic remains open for travel of vaccinated Ukrainians on the same conditions as before. We continue to work with partners in the EU countries to preserve the freedom of movement of our citizens,” he wrote on his Twitter account. All conditions of entry are available on the website of the Consular Service of Ukraine at: https://tripadvisor.mfa.gov.ua/

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UKRAINIAN BANKS’ CASH EXCHANGE RATES ON 10/11/21

Ukrainian banks’ cash exchange rates on 10/11/21

Source: Interfax-Ukraine

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CYPRUS BECOMES FIRST EU COUNTRY THAT RETAINED POSSIBILITY OF ENTRY FOR UKRAINIAN CITIZENS

Cyprus has become the first EU country that retained the possibility of entry for Ukrainian citizens, Croatia and Estonia did not close the borders for Ukrainians, Foreign Minister Dmytro Kuleba has said. “Good news. Cyprus has become the first EU country to retain entry for Ukrainians. Conditions: full vaccination or negative test results (before and upon arrival),” Kuleba wrote on his Twitter page on Wednesday.The minister stressed that the Foreign Ministry is working with partners to preserve freedom of travel for Ukrainians.Vaccines that are recognized by the Cypriot side: Janssen/Johnson & Johnson Vaccine, Vaxzervia Vaccine (AstraZeneca), Pfizer-BioNTech Vaccine, Moderna Vaccine, Sputnik (Gam-COVID-Vac) Vaccine, Sinopharm (BBIBPCOVID-19) Vaccine, Sinovac “(CoronaVac) Vaccine AstraZeneca-Covishield AstraZeneca-SKBio.Later, Kuleba said that Estonia also remained open to Ukrainian citizens vaccinated against coronavirus.“The second EU country, Estonia, did not close the borders for Ukrainians either. We have retained all travel opportunities for citizens who have undergone full vaccination,” the Foreign Minister wrote.According to consular information, it is allowed to enter Estonia from Ukraine for any purpose for persons who have completed a full course of vaccination with: Comirnaty (BioNTech/Pfizer), AztraZeneca/Vaxzevria/Covis against COVID-19.All third-country nationals who are not on the “green list” (Ukraine is on the “red list”) and those who have not completed a full course of vaccination and who arrive in Estonia for work, training or on the basis of a special permit, must do PCR test 72 hours before entry or a rapid antibody test 48 hours in advance. Such persons are also subject to 10 days of self-isolation.Also, as the head of the Ministry of Foreign Affairs said, Croatia remained open for the travel of Ukrainians.“More good news. Croatia remains open to travel for Ukrainians under the same conditions as before. The Foreign Ministry continues to work with partners in EU countries to preserve the freedom of travel of our citizens,” Kuleba wrote on his Twitter page on Wednesday. All conditions of entry are available on the website of the Consular Service of Ukraine at: https://tripadvisor.mfa.gov.ua/

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