Business news from Ukraine

Business news from Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF SEPTEMBER 02

Official rates of banking metals from national bank as of September 02

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 02/09/20

National bank of Ukraine’s official rates as of 02/09/20

Source: National Bank of Ukraine

UKRAINE AND CHINA PLAN TO BOOST COOPERATION

First Deputy Minister of Foreign Affairs of Ukraine Emine Dzhaparova during a video conference with her colleague, First Deputy Foreign Minister of the People’s Republic of China (PRC) Le Yucheng, agreed to step up cooperation in the political and economic plane. “The parties assured each other of the invariability of the fundamental principles of mutual respect for sovereignty, territorial integrity and independence, enshrined in the political documents concluded since the establishment of diplomatic relations,” the press service of the Ministry of Foreign Affairs of Ukraine said.
In addition, among other topics that were in the spotlight became further interaction on the fields of international organizations, ways to intensify trade and economic cooperation, joint participation in the implementation of projects within the framework of the global Chinese initiative “One Belt, One Road.”
The parties also exchanged invitations to visit Beijing and Kyiv.

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FORMER U.S. DEPARTMENT OF STATE SPECIAL REPRESENTATIVE FOR UKRAINE JOINS COUNCIL OF TRANSPORT COMPANY IN UKRAINE

Former U.S. Department of State Special Representative for Ukraine, Kurt Volker, has become an independent member of the board of directors of BGS Rail, which operates in Ukraine, since September 1, U.S.-government funded Radio Free Europe/Radio Liberty has reported.
According to it, BGS Rail is registered in Ukraine. Avia Solutions Group expects Volker’s participation to strengthen the company’s presence in the market.
“By using his vast experience gained in previous positions, we believe that his arrival to the company will further expand Avia Solutions Group’s global reach and strengthen BGS Rail’s position as one of the market’s leading service providers,” the group’s statement reads.
It is noted that Avia Solutions also has in its disposal a comment made by Volker, who points to the opportunity to strengthen the Ukrainian economy in his new work.
“By working with Avia Solutions Group in its development of BGS Rail, I see an opportunity to strengthen Ukraine’s economy, build world-class services, and create jobs for Ukrainian citizens. This goes hand-in-hand with Avia Solutions Group’s global strategy of building world-class services and market position,” he said.
Volker served as Special Representative of the U.S. Department of State for Ukraine in 2017-2019.

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INDEX OF CRYPTOCURRENCY USE BY UKRAINIAN POPULATION HIGHEST IN WORLD

The index of use of virtual assets by the population of Ukraine is the highest in the world, according to a study by the analytical blockchain company The Chainalysis, posted on the website of the Ministry of Digital Transformation of Ukraine.
According to the report, when calculating the index, analysts took into account the cost of sent crypto assets per capita, the balances of crypto assets at the addresses (wallets) of Internet users in Ukraine, as well as the volume of P2P and retail transactions (<$ 10,000), calculated at purchasing power parity. It is noted that the high performance of Ukraine is due, among other things, to the world's largest (the top three) community of blockchain developers, a significant crypto community, a high level of digital awareness of the population, as well as a high-quality educational intellectual basis and a significant number of small businesses that mediate on international marketplaces where cryptocurrency is used for payments. In addition, the primacy was influenced by the presence of legal and banking system restrictions on international transfers and a number of restrictions in more traditional areas, in particular the non-availability of a stock market, limited access to the global capital market, and high entry into the real estate market. "The market of virtual assets in Ukraine is quite developed and has a significant turnover even on a global scale, but most of it is concentrated in the shadow zone, which creates potential risks for both the state, business and users," the press service of the ministry said. It added that the ministry continues to create a legal framework for regulating the cryptocurrency market in Ukraine and hopes that in September the profile draft law on virtual assets will be considered by the parliament. The Chainalysis is the leading blockchain analytics company that provides blockchain data and analytics to government and financial institutions, as well as participants in the virtual asset market.

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LOT INCREASES FREQUENCY OF FLIGHTS FROM UKRAINE

The largest Polish air carrier LOT from September 1 increases the frequency of flights from Lviv to Warsaw from seven to 12 per week.
Flights will be operated twice a day: on Monday morning, Tuesday, Wednesday, Friday, Saturday and Sunday evening and Monday evening, Tuesday, Thursday, Friday, Saturday and Sunday evening, the international airport Lviv named after Danylo Halytsky reported on Facebook on Tuesday.
So, in the morning, departure from Warsaw is scheduled for 12:35, arrival in Lviv – at 13:35. Departure from Lviv is scheduled at 14:25, and arrival in Warsaw – at 15:25.
In the evening, departure from Warsaw is scheduled for 16:40, arrival in Lviv – at 17:40. Departure from Lviv at 18:30, and arrival in Warsaw – 19:30.

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