Business news from Ukraine

PETER CHERNYSHOV JOINS PHARMACEUTICAL COMPANY FARMAK’S SUPERVISORY BOARD

PJSC Farmak pharmaceutical company (Kyiv) has introduced ex-president of Kyivstar Peter Chernyshov to the supervisory board of the company. Earlier Chernyshov headed Carlsberg in Ukraine.
“The supervisory board of Farmak made a decision to strengthen its membership by inviting a person with considerable experience in modern companies that have gone through intensive growth and development,” the company said, citing Head of the supervisory board and the final beneficiary of the company Filia Zhebrovska.
According to her, taking into account the work on the generics market, Farmak’s planning horizon is 5-10 years, so the company needs such specialists.
According to the release, the corresponding decision was approved by the Farmak shareholders at a meeting on July 4.
“I will work in the pharmaceutical industry. Of course, the most important thing is to understand how money is made in it and why some companies thrive and others do not. I will devote part of my time to Farmak, and I will even have a small office there,” Chernyshov said, commenting on his appointment in Facebook.
He said that membership in the Farmak’s supervisory board will not be his new permanent job. “I will not appear there every day and (most importantly) I will not lead anyone in the company. My main work will be participation in strategic projects of the company along with top management and other board members,” the ex-president of Kyivstar said.
According to him, one of the reasons why he agreed to this position is the desire to work with Zhebrovska, who invited him to talk about a new position about a month ago.
“My goal is to help achieve a further strategic goal – to increase our presence in the European market, while at the same time contributing to the development in Ukraine as a serious R&D center and a leading domestic producer,” Chernyshov said in the official press release.

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INTERNATIONAL RESERVES OF UKRAINE 6.4% UP TO $20.639 BLN

The international reserves of Ukraine in June 2019, according to preliminary data, increased by 6.4%, to $20.639 billion in equivalent due to the placement of eurobonds by the government and the purchase of currency by the National Bank of Ukraine (NBU) in the interbank market, the NBU said on its website.

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HOW MUCH 5-STAR HOTELS COST IN TOP-100 DESTINATIONS AROUND THE WORLD

After having several nightmare experiences with Airbnb, my wife and I thought it would be good to know what it costs for a 5-star luxury hotel as a more reliable alternative to vacation rentals.
By doing this research we’d know our options and whether or not we could afford to stay at the best accommodation in any given destination to which we might be going.
We’ve created this resource to help you plan your next vacation and to show that it is possible to find affordable opulence if you go to the right place!

Our Methodology
To calculate the yearly and high season average price of 5-star hotels in each destination we used TripAdvisor as our primary data source. However, certain hotels and resorts didn’t have prices displayed, so in that case, we went directly to the hotel website.
We selected one weeknight in December, March, June, and September in 2018 and checked prices for the five best “Traveler Ranked” hotels in each destination and then averaged those prices to get the numbers you see in our dataset. By using this approach we were able to get a highly accurate representation of average hotel prices across the globe.
We had to expand the area of several destinations in order to have enough hotels in our dataset. These were mainly islands and small countries regions for example: Bali and Costa Rica. All research for each season was performed at least three months in advance to avoid prices being inflated due to last minute bookings. We ended up with 234 destinations around the world that you can browse in the below table.

UKRAINIAN AGRI EXPORT TO EU GROWS BY 31% IN JAN-MAY, 2019

Ukrainian agricultural exports to the European Union (EU) countries in January-May 2019 grew by 30.8% compared with the same period in 2018, to $2.97 billion, Acting Minister of Agrarian Policy and Food of Ukraine Olha Trofimtseva has said. “Export of Ukrainian products to the EU during the reporting period increased 30.8%, to $2.967 billion. Import increased 12.1% and amounted to $1.227 billion,” she wrote on her Facebook page on Friday.
The share of the Netherlands of goods turnover between Ukraine and the EU countries was 17.6%, Spain’s – 13.7%, Poland – 13.1%, Germany – 10.8%, Italy – 10.8%, France – 5.7%, the U.K. – 4.1%, Belgium – 3.2%, Portugal – 2.9%, Hungary – 2.9% and Ireland – 2.7%.
The main products in the structure of exports to the EU are cereal grains – $1.4 billion, vegetable oils – $610.5 million, leftovers and waste from the food industry – $272.8 million, oilseeds – $177.4 million, meat and edible offal of poultry – nearly $86 million, fruits, nuts and zest – $53 million, grain products and cereals – $36.4 million, honey – $34.6 million.

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DEMAND ON ELECTRIC VEHICLES IN UKRAINE GROWS BY 58%

The primary registrations of electric (used and new) vehicles in Ukraine in January-June 2019 grew by 58% year-over-year, to 3,185 vehicles (2,964 cars and 221 commercial vehicles), the Ukrautoprom association has reported. The share of used electric vehicles was 91%.
Nissan Leaf remains the leader in the passenger electric car segment: in six months 1,550 cars of this model received Ukrainian license plates, Tesla Model S was second (253 registrations), BMW i3 with 189 cars was third.
The electric car FIAT 500e was chosen by 135 Ukrainians, and the Renault Zoe sold 134 cars.
In the commercial segment, the RENAULT Kangoo Z.E has the best result: 206 registrations in six months.

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COMMODITY PATTERN OF FOREIGN TRADE OF UKRAINE (EXPORT), JAN–APR, 2019

Commodity pattern of foreign trade of ukraine (export), jan–apr, 2019

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