Business news from Ukraine

Business news from Ukraine

EXPERTS ANALYZE STAPLE FOOD AND GIVE THEIR RECOMMENDATIONS – VIDEO

In the second part of an educational video made by the Expert Club about nutrition, veganism and vegetarianism, Doctor of Biological Sciences Sviatoslav Morozov and healthy nutrition expert Veronika Vero, who promotes vegetarianism, analyzed staple food that is traditionally consumed by Ukrainians.
The experts came to the conclusion that consumption of sausages and sausage products, as well as cakes, some sorts of sweets and canned herrings could be harmful. They also recommended to eat more fruit and vegetables, as well as limit consumption of bread, flour products and bacon.
Honey, dried fruit, raisings, seasonal fruit and vegetables were highly recommended by the experts.
In addition, the experts cast doubt on benefits from regular consumption of dairy products since quality of the raw material (milk) raises questions, while lactose intolerance among many people makes consumption of such products even detrimental.
Doctor of Biological Sciences Sviatoslav Morozov said that food producers aspire to reduce their products’ cost value and often ignore the harm they may cause to consumers’ health.
Otherwise, they will be simply unable to withstand the market competition.
“Speaking about monotonous diet for farm animals and various chemical additives, they are used not to poison consumers. Nobody pursues such a goal. The task is different – to cut the cost value and make products with a very long shelf life, while it is a big question whether this is useful or at least safe for human body,” Morozov said.
The full video is available on the Expert Club YouTube channel
Veronika Vero, a vegetarian and healthy nutrition expert, spent more than eight years of training at the research and development center. She is the author of several programs, seminars, as well as physical, mental and energy retreats.
Sviatoslav Morozov is a scientist with 30 years of experience, a Doctor of Biological Sciences and the author of a series of trainings, titled “Survival in a Megalopolis.”

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BLACK SEA TRADE AND DEVELOPMENT BANK INCREASES BY EUR 34 MILLION RAISES FUNDING FOR PROJECTS IN UKRAINE

The volume of financing projects of the Black Sea Trade and Development Bank in Ukraine in the first half of 2020 increased by EUR 34.17 million, or 20.8%, to EUR 198.72 million, according to the bank’s report on the stock exchange.
According to the report, amount of unfulfilled obligations on projects in Ukraine during this period almost halved, to EUR 35.28 million.
As reported, in 2019, the amount of Ukrainian projects in the bank’s loan portfolio increased from EUR60.3 million to EUR 164.6 million, and their share from 4.4% to 8.9%, with the country’s share in the equity capital of 13.5%. In the first half of the year, the share of Ukrainian projects was 10.1%.
In general, the bank indicates that in January-June this year it managed to increase net interest income by 43.8%, to EUR 20.93 million, net operating income by 31.7%, to EUR 20.44 million, and net profit by 36.8%, to EUR 4.36 million.
The total assets of the bank for the specified period rose by 5.6%, to EUR 2.47 billion.
The bank recalled that in July 2010 it issued bonds worth EUR 150 million to increase its liquidity and assistance for post-pandemic recovery in the Black Sea region.
The bank aims to promote economic cooperation, trade and cooperation of the countries of the Black Sea region.

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RUSSIA’S BIGGEST ONLINE RETAILER LAUNCHES IN UKRAINE

Wildberries, Russia’s biggest online retailer, has launched in Ukraine.
The company said customers could currently order goods at wildberries.ua or with the iOS mobile app. An Android app will follow soon.
Wildberries now operates in eight countries: Russia, Ukraine, Poland, Slovakia, Belarus, Kazakhstan, Armenia and Kyrgyzstan. It launched in Poland in January 2020 and in Slovakia in May.
Wildberries owner and CEO Tatyana Bakalchuk said in June that the company might start sales in another 10 countries this year. It plans to boost turnover outside Russia to 200 billion rubles in the next five years.
“The online store in Ukraine is the latest step in our international strategy. Our customers will receive access to a wide range of goods and tens of thousands of brands. We see a lot of potential in the country, where online shopping is becoming more popular and e-commerce continues to grow rapidly,” Vyacheslav Ivashshenko, Wildberries development director, was quoted as saying in a press release.
A range of 3 million goods and 32,000 brands will be available in Ukraine: clothing, footwear and accessories, toys, sporting goods, stationery, pet supplies, household and gardening products, with plans to expand this.
Goods will be delivered in Ukraine with the help of logistics partners. Customers will be able to receive goods at 8,000 pickup points or by courier.
Wildberries has a range of more than 5 million SKU. Sales rose 2.2-fold in Q2 2020 to 103.4 billion rubles.

UKRAINIAN-U.S. ROCKET FLIGHT FIRST STAGE SUCCESSFUL

Firefly Aerospace Inc., a U.S. rocket and space technology company owned by Ukrainian businessman Max Polyakov, has successfully performed pre-flight tests of its first Alpha rocket.
The four Reaver engines performed 35 seconds of thrust vector control maneuvers, challenging the flame deflectors to constrain all that Reaver power, the company’s press service said.
Firefly Aerospace Inc. said that this test was a major step in Firefly’s march to its first flight.
The launch of the rocket will be not only a big milestone for the company, but for the entire Noosphere, Polyakov said. He said that the company is building a large space vertical, which includes many companies, and it will soon be ready to provide the full range of services in the space industry – from launching payloads and manufacturing satellites, to control systems and data analysis.
In his opinion, the launch of this rocket will be an important event for Ukraine.
It will show, first of all, to the young generation that Ukraine is capable of producing an intellectual product, that space is not a dream, but a reality, he said. Polyakov said that he has invested a lot of efforts and funds in the development of science in Ukraine, and the company has already launched seven engineering schools and is planning to develop this sphere. He expressed the hope that the launch of Alpha rocket will motivate students.

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BULGARIA AND UKRAINE PLAN TO RESTORE COMMISSIONS ON ECONOMIC COOPERATION

Prime Minister of Ukraine Denys Shmyhal says that Ukraine is interested in deepening bilateral relations with Bulgaria and expects to consolidate efforts in this direction.
“The parties discussed issues of strengthening economic cooperation, military and technical cooperation, development of the transport and tourism industry,” the government’s press service said following a meeting between Shmyhal and Deputy Prime Minister for Judicial Reform, Bulgarian Foreign Minister Ekaterina Zaharieva.
The prime minister said that in 2019 the trade turnover between the countries exceeded $1 billion, therefore, in order to overcome the negative consequences of the pandemic and restore the volume of bilateral trade, it is worth joining efforts.
Shmyhal said that one of the important instruments of bilateral cooperation in the economic sector is the Joint Ukrainian-Bulgarian Intergovernmental Commission on Economic Cooperation.
“Unfortunately, the last time the commission was held ten years ago, and we must restore its work. The regular meetings of the commission will further increase the volume of bilateral trade and investment cooperation between our states,” the prime minister said.
Shmyhal and Zaharieva agreed to hold the Ukrainian-Bulgarian business forum in Sofia in 2021, and a meeting of the Joint Ukrainian-Bulgarian Intergovernmental Commission on Economic Cooperation is to be held within the forum.
In addition, during the meeting, the parties discussed the prospects for the development of the transport and tourism industry, which have been affected by the spread of coronavirus (COVID-19) disease.
Due to that, Shmyhal and Zaharieva agreed to create a joint intergovernmental working group on tourism development.
For his part, the prime minister noted the importance of launching an international checkpoint across the state border for ferry, passenger and freight traffic between the settlements of Orlivka (Ukraine) and Isaccea (Romania).
“This will help to increase the tourist flow and expand business contacts between our states and will improve direct road communication. It is also necessary to make efforts to sign an agreement, simplify the conditions for the carriage of goods in direct international railway ferry service port ‘Chornomorsk-Varna’ ferry complex,” he said.

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EIB READY TO PROVIDE FUNDS TO UKRAINE TO IMPLEMENT ENERGY AND ENERGY SAVING PROJECTS

The European Investment Bank (EIB) is ready to provide funds to Ukraine to implement energy and energy saving projects if the risk factors can be controlled, Head of the EIB Resident Representation for Ukraine Jean-Erik de Zagon said.
He said that the EIB is ready to provide the funds if the Ukrainian government can convince the bank of the economic viability of the potential projects. .
He said at the 11th Energy Day organized by the European-Ukrainian Energy Agency on Thursday.
At the same time, the Head of the EIB Resident Representation in Ukraine said that the bank sees many opportunities for cooperation with the government of Ukraine, specifying that “the EIB in Ukraine has a portfolio totaling EUR 6.5 bln. It includes many project in energy sector, social and economic infrastructure, transport and connectivity, local private sector development, and innovation. ”
At the same time, according to de Zagon, with regard to international projects on energy efficiency, Europe highly values a clearly defined time frame for achieving climate change.
Speaking about projects that may be of interest to the bank in the future, he pointed out among the others the need to develop bioenergy. As for the diversification of projects, it is likely that biomass will deserve new attention. It is one of the decarbonization tools. It is challenging, but this is the need to process those resources that are raw materials for renewable energy in Ukraine, de Zagon said.
He also focused on that Ukraine has a good existing gas transmission system (GST). It offers a vast potential where development is most necessary by ensuring that the transmission system is supportive of renewable energy (like transport of hydrogen) the EIB representative said.
At the same time, he explained what donors pay attention to when making decisions on financing certain projects and what Ukraine needs to take into account and do in order to receive international funding. This is about the need to balance positions on the energy market and promote legislative initiatives so that legislation of Ukraine met European requirements and standards, he said.
As for the National Action Plan, the EIB is pleased to cooperate with the government of Ukraine in its implementation, de Zagon said.

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