Business news from Ukraine

Business news from Ukraine

INTERNATIONAL MONETARY FUND PLANS TO PROVIDE UKRAINE WITH EMERGENCY FUNDING

The International Monetary Fund (IMF) is considering providing $1.4 billion in emergency funding for Ukraine to help it respond to Russia’s invasion, IMF Managing Director Kristalina Georgieva announced on Tuesday.
“Today, we have sent to our Executive Board a proposal they will consider for approval tomorrow for $ 1.4 billion in support for Ukraine, to help it cope with the shock caused by this war,” the IMF said in a statement citing Georgieva.
She said that the IMF also disbursed $700 million to Ukraine in December and has provided a Special Drawing Rights allocation of $2.7 billion that was very handy to Ukraine at this moment.

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JAPAN SENDING BULLET-PROOF VESTS AND FOOD TO UKRAINE

The Japanese Self-Defense Force has sent bullet-proof vests and other non-lethal supplies in response to a request from Ukraine, NHK TV channel has reported.
The KC-767 transport aircraft left the Komaki Air Base in Aichi Prefecture, central Japan, on Tuesday night for Poland, which shares a border with Ukraine. The items also include heavy winter clothes and emergency food supplies.
This is the first time the SDF has provided bullet-proof vests to another country.
According to the Ministry of Defense, Japan plans to deliver more equipment and supplies to Ukraine once they are ready, such as food, hygiene products, cameras, power generators, tents and winter clothing.
At a press conference on Tuesday, Chief Cabinet Secretary Hirokazu Matsuno said it was “critical” for Japan and its national security to support Ukraine.

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UNILEVER HALTS OPERATIONS IN UKRAINE, SUSPENDS INVESTMENT IN, EXPORTS TO RUSSIA

Consumer goods giant Unilever has said that the company continues to condemn the war in Ukraine, has stopped business operations in Ukraine and has suspended all imports and exports of our products into and out of Russia.
“We continue to condemn the war in Ukraine as a brutal and senseless act by the Russian state. Our business operations in Ukraine have stopped and we are now fully focused on ensuring the safety of our Ukrainian employees and their families, including helping with their evacuation where necessary, and providing additional financial support,” Unilever CEO Alan Jope said in a statement posted on the company’s website.
He said that the company has suspended all imports and exports of our products into and out of Russia, and we will stop all media and advertising spend.
“We will not invest any further capital into the country nor will we profit from our presence in Russia. We will continue to supply our everyday essential food and hygiene products made in Russia to people in the country. We will keep this under close review,” he said.
“We join calls for an end to this war and hope that peace, human rights, and the international rule of law will prevail,” he said.
Unilever brands include Lipton, Dove, Vaseline, Cif, Signal, Domestos, Rexona AXE, Chistaya Liniya, Barkhatnye Ruchki and Inmarko.
In Ukraine, the company has a tea factory in Hostomel near Kyiv, which is the scene of heavy fighting.
In Russia, it has ice cream plants in Tula Region and Omsk, tea, cosmetics and household cleaner production facilities in St. Petersburg, and a cosmetics factory in Yekaterinburg.

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KYIVSTAR ALLOCATES UAH 10 MLN IN CHARITABLE ASSISTANCE FOR HUMANITARIAN NEEDS

The mobile network operator Kyivstar has donated UAH 10 million to the Come Back Alive charity foundation.
As noted in the message of the operator, these funds will be used for the humanitarian needs of the military defending our country.
“We have decided to allocate funds to help the Ukrainian military. Also, the entire Kyivstar team is working and doing everything possible to keep Ukrainians in touch,” Kyivstar President Alexander Komarov said.
The mobile network operator has also created short number 88009 to support military personnel. Each Kyivstar prepaid subscriber can send an SMS to this number with any text and UAH 10 will be sent to the Come Back Alive Charitable Foundation for humanitarian needs.

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NATO COUNCIL MEETS AGAIN FOR EXTRAORDINARY MEETING ON MARCH 16

An extraordinary meeting of the North Atlantic Council at the level of defense ministers will be held on March 16.
According to NATO headquarters on Tuesday, the meeting will be chaired by NATO Secretary General Jens Stoltenberg.
The agenda has not been announced, however, based on the war waged by Russia against Ukraine, the heads of the defense departments of the member countries of the alliance will discuss the security situation in the light of recent events. The discussion will take place via teleconference.
This will be the fifth extraordinary meeting of the North Atlantic Council this year, convened due to Russian aggression against Ukraine: on March 4, a meeting of the Council at the level of foreign ministers was held, in which Ukrainian Foreign Minister Dmytro Kuleba took part via video link. Prior to that, on February 25, on the second day of the military aggression of the Russian Federation against Ukraine, the leaders of states and governments gathered for an extraordinary meeting. A few days earlier, on February 22, an extraordinary meeting of the Ukraine-NATO Commission was held at the headquarters, on February 16-17, a meeting of the North Atlantic Council at the level of defense ministers with the virtual participation of the head of the Ukrainian defense department Oleksiy Reznikov, and on January 7 – an extraordinary meeting of foreign ministers.

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ESTONIA SIMPLIFIES RECEPTION OF REFUGEES FROM UKRAINE

Estonia simplifies the procedure for obtaining a residence permit for refugees from Ukraine, from March 9, they can apply for a residence permit in one day. The corresponding order was adopted on Tuesday by the government of the republic.
“Today’s government decision will help reduce the bureaucracy for traumatized military refugees from Ukraine. This will allow them to more easily and quickly adapt to life in Estonia,” Prime Minister Kaja Kallas said.
According to the order, a refugee from Ukraine can apply for temporary protection in the form of a residence permit for a year, and then extend this period, the government explained.
Persons under temporary protection, as well as those close to them, are provided with services such as accommodation and meals, health insurance, they are granted the right to work in Estonia, and children are provided with access to pre-school and basic education.
Refugees are entitled to a living allowance, other cash benefits, such as family benefits. All those in need of assistance are entitled to emergency social assistance, they can participate in language learning and adaptation programs free of charge.
Since February 27, more than 7,000 Ukrainians have arrived in Estonia, including 2,610 children. Until now, most of the refugees came to Estonia to stay with their relatives or friends. Earlier it was reported that Estonia is ready to accept up to 10,000 refugees.

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