Business news from Ukraine

Business news from Ukraine

TURKISH PRESIDENT AGAIN PROPOSES PUTIN TO ORGANIZE TALKS WITH ZELENSKY IN ISTANBUL

Turkish President Recep Tayyip Erdogan, in a telephone conversation with Russian President Vladimir Putin, repeated his proposal to upgrade the talks in Istanbul to the level of leaders, the Turkish presidential administration said.
“President Erdogan reiterated his proposal to elevate the Istanbul process, an important stage for negotiations between Russia and Ukraine, to the level of leaders,” the Turkish presidential administration said on Twitter on Tuesday.
Emphasizing the importance of ensuring the ceasefire, the effective operation of humanitarian corridors and the safe conduct of the evacuation, Erdogan said that Turkey will continue to make every effort to end the current state of affairs, which is detrimental to everyone, and establish a lasting peace.
“President Erdogan noted that the continuation of the positive momentum achieved in the Istanbul talks to pave the way for peace will benefit everyone,” the message says.

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BEER PRODUCTION IN UKRAINE DECREASES BY 50% IN Q1

Production of beer in Ukraine in January-March 2022 decreased by 49.9% compared to the same period in 2021, to 17.1 million decalitres.
According to the Ukrpyvo branch organization of breweries, at the same time, malt production in the first quarter decreased by 40.8% – to 32,800 tonnes.
The organization’s website does not contain data on beer production for February 2022. At the same time, it is indicated that in January of this year, 9.4 million decalitres were produced, 55% of production volumes for the first quarter of 2022.
As reported, in 2021 Ukraine produced 5% less beer compared to 2020 – 170.5 million decalitres, and in 2020 its production decreased by 0.4% compared to 2019 – to 179.7 million decalitres.
Malt production in 2021 amounted to 218,500 tonnes, which is 19.5% less than in 2020. At the same time, the year before last, its production decreased by 18% compared to 2019, to 275,000 tonnes.

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FLOW OF PEOPLE LEAVING UKRAINE AFTER CELEBRATION OF EASTER INCREASES AGAIN

The flow of people leaving Ukraine after the celebration of the Eastern rite of Easter on April 25 by Christians rose to more than 23,000 compared to 16,000 the day before, the State Border Service reported on Tuesday.
As the agency pointed out on Facebook, the entry flow did not grow so significantly – up to almost 19 thousand from 17 thousand the day before, including Ukrainians – to more than 16 thousand from 15 thousand, and three days later the exit flow became smaller again.
The State Border Service specified that over the past day, the number of registered vehicles with humanitarian cargo increased to 220 from 120 the day before.
According to data from the Polish Border Service on Twitter, on April 25, 11.4 thousand entered Ukraine from the country against 11.8 thousand the day before.
In the opposite direction, the flow amounted to 13.7 thousand, which is 39% more than on April 24 (9.8 thousand), and in the first 7 hours of Sunday it increased by almost 2.5 times – up to 4.5 thousand.
In total, since the beginning of the war, the Polish border agency points out, 2.96 million people have entered the country from Ukraine, and 870 thousand people have entered the country in the opposite direction.
According to UNHCR data, as of 13:00 on April 24, a total of 5.23 million people left Ukraine since the beginning of the war (excluding the entry flow), of which 2.91 million went to Poland, 843.74 thousand to Romania and Moldova. , Russia – 605.82 thousand, Hungary – 492.98 thousand, Slovakia – 355.59 thousand, Belarus – 24.48 thousand.
At the same time, according to the State Border Service, 1.17 million people have entered Ukraine by this date since February 28.

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COCA-COLA WILL PROVIDE AROUND $15 MLN IN AID TO UKRAINE

American-based Coca-Cola Co., the world’s largest soft drink producer, along with the Coca-Cola Foundation and its global bottling partners, will provide around $15 million in aid to Ukraine, which has been militarily invaded by Russia’s aggressor nation.
Efforts to provide humanitarian assistance in the region will include donations of funds and products manufactured by the corporation, according to the company’s report for the first quarter of 2022.
“This funding will support further relief efforts by the Red Cross and other organizations operating in Ukraine and neighboring countries, helping millions of displaced people,” Coca-Cola said in a report.
In addition, the corporation provides urgent financial assistance to all its employees in Ukraine.
According to the report, on March 8, 2022, Coca-Cola announced the suspension of its activities in the Russian Federation in response to its armed aggression in Ukraine. This measure will tentatively reduce the corporation’s net revenue and operating profit for the year by 1-2%, and also reduce earnings per share by about $0.04/share.
The company’s net profit in January-March decreased by 23.5% compared to the same period last year, to $2.25 billion.
Coca-Cola’s quarterly revenue increased by 5%, to $9.02 billion from $8.6 billion a year earlier.
Sales of carbonated drinks increased by 4%, driven mainly by China, India and Latin America. Sales of juices, milk drinks and plant-based drinks increased by 3%. Sales of water, sports drinks, coffee and tea fell by 11%.
As reported, Coca-Cola on March 8 announced the suspension of business in Russia in connection with Russian aggression against Ukraine, while in Russia it owns 10 factories for the production of soft drinks and juices.
On February 24, the corporation announced a temporary shutdown of the plant in Kyiv and the evacuation of employees.

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GAS TRANSIT BOOKINGS VIA UKRAINE DECLINE ON TUESDAY

Operations of the European gas industry are realigning with the changing season, with the warming spring temperatures in Europe and declining prices on the spot market resulting in importers reducing off-take of Russian gas.
According to the data of Gas Transmission System Operator of Ukraine, nomination for April 26 is 56 million cubic meters, and bookings for April 25 totaled 68.4 million cubic meters.
Rising temperatures and seasonally declining gas consumption allow importers to return to the flexible optimization of booking volumes from suppliers depending on the cost. Gas imported under a month-ahead contract – Gazprom has about half of its exports pegged to this contract – in April is around $1,400 per thousand cubic meters. A day-ahead contract on the spot market is currently $1,050 per thousand cubic meters. Therefore, buyers are increasing their purchases on the spot market, and reducing off-take on record-breaking long-term contracts.
Gas actually flowing via the Yamal-Europe pipeline between Germany and Poland has been continuously pumping in reverse mode since April 7. On Tuesday, the reverse flow of gas from Germany to Poland has dropped 66.7% to 200,000 cubic meters per hour, according to data from the Gascade gas transport operator. Off-take of additional volumes of gas from the main European hubs instead of direct imports from the east is another factor in the current high gas prices in the European Union.
Wind farms provided an average of 17% of the electricity generation in the European Union last week from April 18 to 24, with the figure falling to 9.5% on Monday, according to data from the WindEurope association.
Europe has begun injecting gas into its underground gas storage (UGS) facilities. The current stock level is 31.57%, an increase of 0.33 percentage points over the past day. The current stockpile in the UGS facilities in Europe is 6.3 percentage points behind the five-year average. High prices for imported gas have restrained injection in April.
According to the decree of the Russian president, the government as of April has introduced a new procedure for paying for Russian gas supplies that stipulates the obligatory conversion of the contract currency into rubles through Gazprombank.

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