Business news from Ukraine

Business news from Ukraine

UKRAINE INTERNATIONAL AIRLINES RESUMES FLIGHTS FROM ODESA TO ISTANBUL

Ukraine International Airlines (UIA) will resume its flight Odesa – Istanbul (Turkey) – Odesa from March 29, 2021, the press service of the air carrier has reported.
In addition, UIA is also increasing the frequency of flights Kyiv – Istanbul – Kyiv to 21 flights a week.
The airline said that flights from Kyiv to Istanbul and back will be operated daily three times a day, and in some periods – four times a day.
Return flights on the Odesa – Istanbul – Odesa route will be operated on Mondays, Wednesdays and Fridays.
Direct flights from Kyiv and Odesa to Istanbul are also operated by Turkish airlines and Ukraine’s SkyUp Airlines.

EU DELEGATION TO UKRAINE WELCOMES SIGNING LAW ON BUREAU OF ECONOMIC SECURITY

The EU Delegation to Ukraine and the EU Advisory Mission to Ukraine welcome the signing by President of Ukraine Volodymyr Zelensky of the law on the Bureau of Economic Security and called for a transparent selection of the bureau’s team.
“The EU Delegation to Ukraine and the EU Advisory Mission to Ukraine welcome the signing by President of Ukraine Volodymyr Zelensky of the law on the Bureau of Economic Security. Key reform of investigation and law enforcement on economic crimes. Next steps: changes in the criminal procedure code, transparent selection of the BES Head and staff. The EU is ready to support,” the EU delegation to Ukraine said in on Twitter on Thursday.
As reported, on March 22, President of Ukraine Volodymyr Zelensky signed law No. 1150-IX on the Bureau of Economic Security of Ukraine, which the Verkhovna Rada adopted on January 28, 2021.

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UKRAINE CREATES WORKING GROUP TO INTRODUCE EU CARBON TAX

The Cabinet of Ministers of Ukraine on Wednesday decided to create a working group for consultations with the European Commission on aligning an approach on the introduction in Ukraine carbon tax – the carbon border adjustment mechanism (CBAM), permanent representative of the Cabinet of Ministers in the Verkhovna Rada Vasyl Mokan said.
“The European Commission is expected to submit a relevant legislative proposal to the European Parliament and the European Council by mid-2021. That is why there was a need for a unified approach of the Ukrainian side for communication and interaction with the European Commission on the issue of introducing CBAM in Ukraine,” Mokan wrote on his Telegram channel.
According to the explanatory note to the document, within the framework of the working group it is planned to develop a consolidated position of the Ukrainian side. The working group was chaired by Deputy Prime Minister for European and Euro-Atlantic Integration Olha Stefanishyna and Deputy Minister of Economy, Trade Representative of Ukraine Taras Kachka became her deputy.
As reported, the official documents of the European Commission and the European Parliament suggest that an individual approach will be applied to the third countries with which the EU has an Association Agreement or a free trade area when introducing CBAM.
CBAM envisages the introduction of an environmental duty for the import of products into the EU, depending on the amount of carbon dioxide emissions during the production process. Presumably, the mechanism will be launched on January 1, 2023 as part of the implementation of the Green Deal strategy.

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STRAUSS GROUP RETAINS LEADERSHIP IN UKRAINIAN MARKET OF ROASTED COFFEE BEANS IN 2020

The products of Strauss Group, one of the largest coffee producers in the world, retained the first place in the Ukrainian roasted coffee market in 2020, increasing its presence there by 0.5 p.p. compared to 2019, up 17.9%, the company said in its annual report.
According to the company, its share in the Ukrainian ground and instant coffee market decreased by 0.9 percentage points last year, to 8.9%.
Strauss Group clarified that its main competitors in Ukraine were the international concern JDE, Nestle Corporation and the Ukrainian manufacturer Galka. According to its data, JDE, which produces coffee under the Jacobs, Tassimo, Moccona, Senseo, L’Or trademarks, in 2020 increased its presence in the Ukrainian market of ground and instant coffee by 3 p.p., to 46.8%.
According to Strauss Group, in the Ukraine-Russia region, coffee sales in 2020 decreased by 22.1% compared to 2019, to 128 million shekels. The company clarified that the reason for the decline in sales in the Ukrainian market was the increased economic uncertainty, mainly due to the consequences of the outbreak of COVID-19.
Strauss Group noted the growth in consumption of roasted coffee beans in Ukraine as part of the trend in coffee culture and premiumization of home consumption.
As of March 22, the exchange rate of the new Israeli shekel was UAH 8.4005.

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

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

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 29/03/21

National bank of Ukraine’s official rates as of 29/03/21

Source: National Bank of Ukraine