Business news from Ukraine

Business news from Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF MARCH 25

Official rates of banking metals from national bank as of March 25

One troy ounce=31.10 grams

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OWNER OF GLOBAL SPIRITS ALCOHOL HOLDING READY TO PRODUCE DISINFECTORS FREE OF CHARGE

The owner of Global Spirits alcohol holding, Yevhen Cherniak, is ready to produce spirit disinfectors and sanitizers free of charge at the holding’s facilities.
“We are ready at our facilities, re-profiling them, to produce spirit sanitizers and disinfectors for medical institutions free of charge,” he wrote on his Facebook page.
At the same time, Cherniak said that this requires permits from the ministry.
“This project is non-profit, we take all the costs of production, only raw materials and permits are from the monopolist [Ukrspyrt state-owned enterprise],” the owner of Global Spirits said.
In response to this initiative of the businessman, Deputy Minister of Economic Development, Trade and Agriculture of Ukraine Taras Vysotsky said that in order to implement this initiative, it is necessary to amend the Tax Code.
“These changes have already been worked out and are awaiting adoption at the next extraordinary plenary session,” he wrote on his Facebook page.
Vysotsky said that Ukrspyrt is also ready to instantly switch to the production of disinfectants immediately after the relevant amendments to the law have been introduced.
In turn, Acting Director of Ukrspyrt Serhiy Bleskun supported the idea of the owner of Global Spirits and proposed a plan for its implementation.
“During application, it may be the following solution: to determine the amount of spirit (Ukrspyrt will provide almost any), to remove the excise tax from the volume by the decision of the Verkhovna Rada, to sell it at distilleries without excise (including our one), distilleries dispense spirit or products containing spirit as agreed with the Ministry of Health, distilleries deliver through their own distribution within 24 hours to those in need of this product anywhere in Ukraine,” Bleskun wrote in the comments on the businessman’s post in Facebook.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 25/03/20

National bank of Ukraine’s official rates as of 25/03/20

Source: National Bank of Ukraine

UKRAVTODOR SEEKS TO JOIN REGIONAL CENTERS OF WESTERN UKRAINE WITH HIGH-SPEED HIGHWAYS

The State Roads Agency of Ukraine (Ukravtodor) plans to implement a project to develop a network of roads in western Ukraine in five years, Ukravtodor has said in its Telegram channel.
The project provides for the connection of the regional centers of western Ukraine with each other and with existing transport corridors by high-speed highways with a permitted speed of 110-130 km/h.
The full implementation of the project is planned to be completed in five years.
Ukravtodor said that in 2020 the project for the construction of the Lviv Northern Orbital Road, as well as the first stage of the Dubno, Stryi and Ternopil orbital roads, is ready for implementation. Financing of orbital roads of these cities is provided at the expense of borrowed and grant funds of international financial institutions.
At the same time, international agreements on financing these projects have already been concluded, and procurement procedures will be announced in the coming months.

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MOBILE OPERATOR KYIVSTAR EXTENDS LIMITS OF DEFERRED PAYMENT FOR CONTRACT SUBSCRIBERS AMID QUARANTINE

The Kyivstar mobile operator has extended the limits of deferred payments for individual and business contract clients for the duration of the quarantine, the operator has said. “This will allow customers to defer payment for services used in March 2020 and pay them in April,” Kyivstar emphasized. In addition, for subscribers who do not use credit limits, Kyivstar will cancel the commission when ordering additional funds until April 4.
“Limits in the framework of the deferred payment service are extended until March 31 inclusive. For subscribers who will continue using the services without payment, the limits will be automatically extended until April 4 inclusive. This is done so that subscribers who do not use the services until March 31 do not overpay,” the report says.
In addition, the operator notes that subscribers who switched to the contract using the delayed connection option, that is, signed the contract without the necessary documents at that time, will continue using all the services, and they will be able to provide the necessary documents after the quarantine is completed.
“These are the company’s next steps to help Ukrainians jointly overcome temporary difficulties and adapt to the changes that arise due to the quarantine regime,” the report says.
As reported, Kyivstar canceled the subscription fee for solutions for a remote office.

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PRICES OF LIVE PIGS IN UKRAINE GROW BY 25% IN 2020 – OPINION

Prices for live pigs in Ukraine since the start of the year have grown by 25% on average, to UAH 50 per kilogram, KSG Agro agricultural holding has said in a press release. According to him, in January, the cost of live pigs was UAH 40-42 per kg, in March – UAH 50-52.
The rise in price of live pigs at the first stage, according to KSG Agro Board Chairman Serhiy Kasianov, was associated with a seasonal increase in demand for pork.
“In the spring, the demand for pork meat traditionally increases in our country. Firstly, during this period a number of holidays are celebrated starting from March 8, and secondly, spring consumption growth is associated with improved weather: Ukrainians cook more meat in the fresh air,” he said.
Subsequently, prices were influenced by quarantine measures related to the spread of the coronavirus disease COVID-19 in Ukraine.
“Quarantine and sanitary restrictions have led to difficulties in delivering goods and, in particular, pork to different parts of the country. Add to this the rush demand for meat during the quarantine period. In conditions of self-isolation, our compatriots are actively forming food supplies by purchasing products for future consumption,” Kasianov said.
However, according to him, in the near future – before the beginning of summer – one should not expect a significant increase in prices for live pigs, since the further rise in price of pork is limited by the purchasing power of the population.

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