Business news from Ukraine

Business news from Ukraine

Europe sees sharp rise in flow of illegal migrants from Africa – Le Figaro

The number of migrants crossing the central Mediterranean towards Europe from January to April this year is unprecedented, much higher than during the same period in 2022, Le Figaro newspaper reported Friday.
From January to April, according to EU border agency Frontex, the number of illegal arrivals to the European Union through the central Mediterranean increased by almost 300 percent compared to last year, reaching a figure of 42,200.
This is slightly more than half of all illegal entries into the EU in all directions recorded this year.
Particularly many migrants arrived in Europe via Tunisia. Compared to 2022, their number increased by 1,100%.
The migrants cross the sea in small boats that are made for them right on shore at a cost of about 1,000 euros. Gangs of smugglers are becoming more and more organized, and this partly explains the increasing influx of illegals into the EU, Frontex said.

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Wheat exports from Ukraine in coming marketing year will be 10 mln tons – U.S. Department of Agriculture

Wheat exports from Ukraine in the upcoming 2023/24 marketing year (MY) will be 10 million tons compared to 15 million tons in the current 2022/23 MY, while corn will be 16.5 million tons compared to 25.5 million tons, the US Department of Agriculture (USDA) forecasts.
In its report, it is said that this is due to a smaller harvest and reduction of export stocks.
In addition, the USDA expects barley exports from Ukraine to decrease by 0.1 million tons in the upcoming MY – to 2.3 million tons.
Compared with the forecast of a month ago, the US Department of Agriculture improved its estimate of wheat export for this year by 0.5 million tons – up to 15 million tons, explaining it by better-than-expected performance of “grain corridor” and “lines of solidarity”.
As for the upcoming harvest, the USDA expects Ukraine’s wheat production this year to drop to 16.5 million tons from 20.9 million tons last year and 33.01 million tons in 2021.
He estimates that the harvest of other grains will fall to 28.67 million tons from 34.06 million tons last year and 53.51 the year before.
In particular, corn will be harvested 22 million tons compared to 27 million tons a year ago and 42.13 million tons in 2021, barley – respectively 5.9 million tons against 6.18 million tons and 9.92 million tons, oats – 350 thousand tons against 390 thousand tons and 478 thousand tons.

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National Bank revoked all licenses of insurer “Speir”

The National Bank of Ukraine on May 11 has cancelled all licenses of ALC Insurance Company Speir (Kyiv) to provide financial services.
According to the message on the website of the regulator, an unscheduled inspection carried out by the NBU in February-March this year found a repeated violation of license conditions – the insurer does not comply with mandatory standards.
The countermeasure for similar violations of license conditions to ALC “IC “Speir” was already applied on September 2, 2022.
The decision on revocation of the license shall come into force on May 12, 2023.
As previously reported, the rating agency “Standard-Rating” has withdrawn the credit rating / financial stability rating of the insurer SK “Speir” on February 9, 2023.
By results of H1 2022 ADO IC Speir received UAH 5,5 m of insurance premiums, 95% of which – from natural persons, and carried out UAH 22,8 th of insurance payments. The market share of the company according to the results of H1 2022 – 0,06%.

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2022-2024 goods trade balance forecast (USD bln)

2022-2024 goods trade balance forecast (USD bln)

Source: Open4Business.com.ua and experts.news

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Zelensky will meet with the Pope today

Ukrainian President Vladimir Zelensky is in Rome on Saturday, where he will hold a series of meetings.

“Rome. Meetings with Italian President Sergio Mattarella, Prime Minister George Meloni and Pope Francis. An important visit for the victory of Ukraine,” he wrote in his Telegram channel.

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President Zelensky imposed sanctions against several other well-known politicians and businessmen

Ukrainian President Vladimir Zelensky has imposed sanctions against the daughter of former Defense Minister Lebedev, head of the Frunze NGO Volodymyr Lukyanenko and his son, former MP Andriy Derkach, and the nominal owners of the VS Energy energy company. This is stated in a presidential decree published Friday evening.

In addition, sanctions have been imposed against the son of prominent Russian businessman Vadim Giner, Olga and Irina Babakov

“Another sanctions package to date. With his decree, he imposed restrictive measures on the property of Russian companies in Ukraine and the property of related Ukrainian economic entities,” Ukrainian President Vladimir Zelensky wrote in his Telegram channel on Friday.

“Even critical infrastructure facilities and key strategic enterprises were sometimes under their control. Today we are overcoming these risks. The sanctions are also imposed on companies associated with Medvedchuk and other subsanctioned individuals, the founders, managers, beneficiaries of pro-Russian companies with significant assets in Ukraine,” the president said.

Ukrainian President Vladimir Zelensky has imposed sanctions against the daughter of former Defense Minister Lebedev, the head of the Frunze NGO Volodymyr Lukyanenko and his son, former MP Andriy Derkach, and the nominal owners of the VS Energy energy company. This is stated in a presidential decree published Friday evening.

In addition, sanctions have been imposed against the son of prominent Russian businessman Vadim Giner, Olga and Irina Babakov

“Another sanctions package to date. With his decree, he imposed restrictive measures on the property of Russian companies in Ukraine and the property of related Ukrainian economic entities,” Ukrainian President Vladimir Zelensky wrote in his Telegram channel on Friday.

“Even critical infrastructure facilities and key strategic enterprises were sometimes under their control. Today we are overcoming these risks. The sanctions are also imposed on companies associated with Medvedchuk and other subsanctioned persons, the founders, managers, beneficiaries of pro-Russian companies with significant assets in Ukraine,” the president said.

Source: Decree of the President of Ukraine No. 279/2023 – Official web representation of the President of Ukraine (president.gov.ua)

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