Business news from Ukraine

Business news from Ukraine

EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT INVESTS EUR 812 MLN IN UKRAINE IN 2020

The European Bank for Reconstruction and Development (EBRD) in 2020 reduced investments in Ukraine to EUR 812 million in 34 projects compared to 2019, when the Bank invested 51 projects for EUR 1.1 billion.
“In terms of annual investment, Ukraine ranked third among the Bank’s countries of operation after Turkey and Egypt,” the EBRD said in a press release.
According to it, new investments included support for projects to improve corporate governance (as a pilot transformation program for Ukravtodor), as well as a project for transforming Ukrposhta, improving transport infrastructure in Ukrainian cities, introducing energy efficient technologies in heavy industry, etc.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 21/01/21

National bank of Ukraine’s official rates as of 21/01/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JANUARY 21

Official rates of banking metals from national bank as of January 21

One troy ounce=31.10 grams

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UKRAINE CUTS ELECTRICITY CONSUMPTION BY 2.6% IN 2020

Electricity consumption in Ukraine, taking into account in-process losses in power grids, decreased 2.6% in 2020 compared to 2019, to 146.394 billion kWh, the Ministry of Energy has told Interfax-Ukraine.
Excluding in-process losses electricity consumption in 2020 fell by 2.1%, to 117.656 billion kWh.
The country’s industry, excluding in-process losses, reduced electricity consumption by 3.8%, to 49.196 billion kWh. In particular, metallurgical industry consumed 27.105 billion kWh (5.5% less compared to 2019), fuel industry some 3.225 billion kWh (5% less), machine building industry some 3.126 billion kWh (14.7% less), chemical and petrochemical some 4.144 billion (10.6% more), food and processing some 4.34 billion kWh (3.3% less), construction some 2.332 billion kWh (3% more), others some 4.924 billion kWh (0.5% more).
In addition, agricultural enterprises consumed 3.814 billion kWh (2.8% more), transport some 5.719 billion kWh (13.4% less), developers some 949.8 million kWh (1.8% less).
In 2020 the country’s population consumed 36.436 billion kWh (3.4% more), households some 14.179 billion kWh (5.9% less) and other non-industrial consumers some 7.363 billion kWh (1.6% less).
The share of industry in total electricity consumption in 2020 fell from 42.6% to 41.8%, while the share of the population grew to 31% from 29.3%.
In December 2020, electricity consumption, taking into account in-process losses, decreased 7.3% compared to 2019, to 15.043 billion kWh, and excluding in-process losses it fell by 4.9%, to 11.435 billion kWh.

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TAS INSURER RAISES PAYMENTS BY 29% IN DEC 2020

TAS Insurance Group (Kyiv) in the last month of 2020 paid out UAH 95.23 million of compensation under concluded insurance contracts, which is 29.4% more than in December of the year before last, according to the insurer’s website.
More than a third of all payments for the reporting month (39.18%) fell on OSAGO – UAH 37.31 million, which is 58.6% higher than the corresponding figure for the same period in 2019.
The second place in the December portfolio of the company’s payments with a share of 26.76% is occupied by KASKO: under such insurance contracts, UAH 25.48 million was reimbursed, which is 18.2% more than in December 2019.
Payments under voluntary medical insurance contracts increased even more – by 60.6% – under which UAH 17.61 million was reimbursed during the last month of 2020, which is 18.49% of the insurer’s total payments for the reporting period.
As for Green Card policies, TAS paid UAH 12.98 million in January, which is 13.63% of the total amount of the insurer’s indemnities for the month.
Under other insurance contracts in December last year, the company paid UAH 1.85 million in compensation.

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UKRAINE CUTS EXPORTS OF POULTRY INTO EU BY 18%

Imports of poultry meat from Ukraine into the EU countries (hereinafter excluding the United Kingdom) decreased in January-November 2020 by 18.1% compared to the same period in 2019, to 100,880 tonnes, however, the country retained the third place among top three exporters in this segment, according to a report on the website of the European Commission with reference to Eurostat.
According to it, in general, imports of these products into the EU for 11 months of 2020 amounted to 479,000 tonnes, which is 14.3% less than in 11 months of 2019.
Among other large exporters, Brazil reduced imports of poultry meat into the EU by 3.9%, to 213,010 tonnes, Thailand by 24.1%, to 124,520 tonnes, and China by 25.7%, to 15,430 tonnes.
Imports of poultry meat from the EU into Ukraine in January-November 2020 amounted to 134,740 tonnes, decreasing compared to the same period in 2019 by the same 18.1%. According to this indicator, Ukraine also ranked third.
In general, exports of these products from the EU decreased by 4%, to 1.590 million tonnes.
According to the report, in 2020, poultry meat production in the EU is expected to decrease by 2%, to 13.23 million tonnes, and consumption by 1.6%, to 12.43 million tonnes. The largest producers are Poland (19%), Spain (13%), France (12%), Germany (12%), Italy (10%) and the Netherlands (8%).
The European Commission said that the United Kingdom in January-September imported 478,660 tonnes of poultry meat, and exported 658,930 tonnes.
As the State Customs Service of Ukraine said, in 2020, exports of poultry meat from Ukraine in quantity terms increased by 4%, to 431,000 tonnes, while in monetary terms it decreased by 4.1%, to $555 million.

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