Business news from Ukraine

Business news from Ukraine

AIR TRAFFIC BETWEEN UKRAINE AND AUSTRIA MAY RESUME AFTER JUNE 23

Air traffic between Ukraine and Austria may resume after June 23, provided that both countries open airspace and remove restrictions on the entry of citizens, Ukrainian Ambassador to Austria Olexander Scherba has said.
“Regarding the situation with the restoration of air traffic between Ukraine and Austria. There is a possibility that flights will resume after June 23 provided that both countries “open” for each other in terms of opening airspace and in terms of lifting restrictions on entry of citizens. There is such a desire. It is very important that Ukraine pass the conditional peak of the pandemic,” the ambassador wrote on Facebook

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UAH 1 BLN TO BE ALLOCATED FOR PURCHASE OF AMBULANCES IN UKRAINE

Prime Minister of Ukraine Denys Shmyhal has reported that a decision has been taken to allocate about UAH 1 billion for purchase of the ambulances, a government’s press service reported. In a course of a meeting with the employees of Bila Tserkva emergency medical station on May 28, head of the government informed the attendees that the government strived for as soon as possible providing of extra payments in an amount of 300% of salaries to all medical workers, who deal with the patients with COVID-19.
“We have already paid all payments in March, in April payments will go through the NHS (National Health Service of Ukraine) through direct agreements with medical institutions. As of yesterday, almost 90% of transactions were signed, and all 100% of transactions for emergency medicine. Therefore, further payments should be in time,” said Shmyhal.

EBRD STARTS FREE ONLINE ANTI-CRISIS MANAGEMENT COURSES FOR MEDIUM-SIZED ENTERPRISES

The European Bank for Reconstruction and Development (EBRD) launches a free online platform for training and consulting in 30 countries for micro, small and medium-sized enterprises (MSME) in managing financial resources, as well as working with clients and human resources during the coronavirus crisis, the EBRD press service said.
“The EBRD “Know How to…in a Crisis” program, hosted on the bank’s platform, the Know How Academy, is a central learning hub where entrepreneurs can access practical assistance, including training materials and crisis management advice from industry experts and can join peer discussion forums,” the bank said on its website.
“Launched by the EBRD as part of its enhanced support for firms during the current crisis, the program will focus on five key business pillars: crisis management – your customers and suppliers, financial management essentials, financing your firm, your staff – your key asset, and management and leadership challenges,” according to the report.
“The first module “Crisis management: Your customers and suppliers” will provide advice on how to keep your business supply chain moving and the cash coming in. It will be available from today, with the remaining four modules to be available shortly afterwards,” it says.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 29/05/20

National bank of Ukraine’s official rates as of 29/05/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF MAY 29

Official rates of banking metals from national bank as of May 29

One troy ounce=31.10 grams

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UKRAINE INTERNATIONAL AIRLINES WILL DISMISS 900 EMPLOYEES DUE TO CLOSURE OF AIR TRAFFIC

Ukraine International Airlines (UIA, Kyiv) has begun a process of the forced dismissal of 900 employees (35.2% of the company’s staff as of early 2020) due to the closure of air traffic because of anti-epidemic quarantine measures introduced by Ukraine, the company’s press service has said.
“Now the company’s management is taking all possible measures to reduce costs and generate income from single flights. Our goal is to preserve the company and key personnel, in particular flight crews. Unfortunately, a significant decrease in the airline’s activities resulted in a forced reduction of 900 UIA highly professional employees,” UIA President Yevhen Dykhne said.
The airline’s press service told Interfax-Ukraine that UIA has already begun the process of staff reduction in accordance with the law, which will require a minimum of two months.
Dykhne emphasized that in connection with the introduction of restrictive measures on regular passenger air transportation since March 17 of this year, UIA’s work was practically stopped.
The company also noted that the UIA long-haul fleet will also be reduced.

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