In January-October 2022, the Zhidachevsk Paper and Pulp Mill (ZhPPM, Lviv region), which is part of the Osnova holding, increased its output by 21.7% compared to the same period of 2021 – up to UAH 413.38 million.
According to the statistic data given to “Interfax-Ukraine” agency by association “UkrPapir”, thus, according to the results of 10 months the rate of increase of this index to the similar period of last year slowed down a little bit (in nine months it was 23.2%, in eight – 30%).
The production of corrugated cardboard boxes in physical terms remains a stable positive trend, having increased by 29.5% – to 15.9 million square meters. At the same time the production of containerboard (including corrugated paper) decreased by 15.5% – to 10.7 thousand tons.
At the same time, there was a significant reduction in paper output – down 42% to 3,35 thousand tons.
As reported with reference to the Association, in January-October, the total production of paper and cardboard in Ukraine decreased by 44% compared to the same period last year – up to 415.8 thousand tons, corrugated board – by 41.5%, to 364.2 million square meters.
At the same time, Ukraine’s largest corrugated packaging manufacturer – Rubizhansky KTK received damage and stopped, but its subsidiary in the Kiev region – Trypolsky packaging plant continues to work. According to “UkrPapir”, over the 10 months it produced 1.78 billion UAH, and corrugated packaging made 102.4 million square meters (the second figure after the Kiev KBC).
ZhCBK had suspended production since the start of Russia’s military aggression, but production was resumed in March.
According to the Association, another plant within the Osnova holding, the Izmail Pulp and Paperboard Mill (Odessa region), increased its output by 3.6%, to UAH 190.8 mln in January-October. In volume terms, the production of containerboard decreased by 35.4% to 6.3 thousand tons, corrugated board by 43.8% to 9.7 million square meters.
In January-October 2022, the Kokhavyn Paper Factory (KPF, Lviv Oblast), which produces hygienic paper products (TM Kokhavinka), produced UAH 783.68 million worth of products – 43.9% more than in the same period of 2021.
According to statistical data of UkrPapir Association, provided to Interfax-Ukraine news agency, thus the mill has slightly increased the growth rate of this indicator compared to the same period last year – for nine months it was 40.8%.
In physical terms, the production of base paper for sanitary products increased by 4% – to 33.8 thousand tons. Production of toilet paper rolls went up by 17.2% up to 108.7 million pieces, which is the second largest after the Kiev KBC (273.2 million pieces).
During this period, the primary enterprises of the industry produced more than 476.5 million paper rolls (-17.4% on January-October 2021).
KBF, which has been operating since 1939, produces base paper for sanitary goods, as well as toilet paper and paper towels. The capacity of the paper machines is 19 thousand tons per year, the processing equipment is 90 million rolls per year.
The factory has practically not stopped production since the beginning of this year.
KBF in 2021, according to UkrPapir, increased production by 13% to 673.7 million hryvnias by 2020.
The bitcoin price collapsed to a 2-year low in trading Tuesday amid the bankruptcy of FTX, one of the world’s largest crypto exchanges.
The bitcoin exchange rate was $15,735,000 as of 1:30 p.m. Tuesday, with the value of the most popular cryptocurrency dropping to $15,480,000 during trading, which is the lowest value since November 11, 2020, according to CoinDesk.
The cryptocurrency market has lost more than $1.4 trillion this year due to a number of problems, including unrealized projects and lack of liquidity due to the global economic downturn. These difficulties have left many cryptocurrency companies facing a string of bankruptcies.
One such company was the owner of the FTX exchange. The company initiated bankruptcy under Article 11 of the U.S. Bankruptcy Code in early October. Before that, another major cryptocurrency exchange – Binance, which was planning to buy the assets of FTX – abandoned the deal after due diligence. The company explained its decision by the identified errors in the management of customer funds, as well as reports about the investigations conducted by U.S. regulators in relation to this site.
In addition, Binance CEO Changpeng Zhao said his company will start selling FTX tokens owned by FTX. This led to the collapse of FTX, whose market valuation once reached $32 billion.
A day earlier, it was revealed that FTX owed the 50 largest lenders $3.1 billion, with a total of 1 million lenders lending to it.
Investors fear that the collapse of FTX could cause a chain reaction in the sector, which further puts pressure on the cryptocurrency market. On Monday, shares of Coinbase Global (SPB: COIN) Inc., another major cryptocurrency exchange operator, plummeted 8.9 percent in U.S. trading, with its market capitalization plunging below $10 billion, the lowest since Coinbase went public.
The US dollar is getting cheaper against the euro, the yen and the pound sterling in trading on Tuesday after the previous session’s strengthening following another Federal Reserve (Fed) statement.
This week, traders will focus on the Federal Reserve’s minutes of November 1-2 meeting at which the U.S. central bank raised its benchmark interest rate by 75 basis points (bps) and hinted at a possible slowdown in the rate hike.
The minutes of the meeting will be released Wednesday at 9 p.m. ET.
On Monday, Federal Reserve Bank (FRB) presidents Loretta Mester and Mary Daly of Cleveland and San Francisco signaled that the U.S. central bank would slow the pace of prime rate hikes next month, while stressing that the need for further policy tightening remains.
“I believe we can slow down the rate hike at the next meeting, I don’t see a problem with that,” Mester told CNBC. – However, I don’t think we’re close to pausing.”
For her part, Daley said the Fed should be mindful of the time lag between Fed decisions and their impact on the real economy. At the same time, she reiterated that she sees the need to raise the rate to at least 5%.
The ICE-calculated index showing the dollar’s performance against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and Swedish krona) lost 0.18% on Tuesday, while the broader WSJ Dollar lost 0.17%.
The euro/dollar pair is trading at $1.0259 as of 8:15 a.m., up from $1.0243 at the close of the previous session.
The dollar traded down to 141.78 yen from 142.14 yen on Monday.
The pound rate rose to $1.1851 compared to $1.1824 the day before.
Canada has issued CAD500 million in bonds in support of Ukraine, the purchase of which Canadians will help the Ukrainian government continue to provide financial support as well as help rebuild critical infrastructure, according to the Canadian government’s website.
“The Canadian government is issuing $500 million in Ukraine sovereignty bonds today, the prime minister first announced last month. These funds will help the Ukrainian government continue to provide essential services to Ukrainians this winter, such as pensions, fuel purchases and the restoration of energy infrastructure,” the report said.
It is noted that the Canadian government has partnered with participating financial institutions to offer Canadians the opportunity to purchase Ukrainian sovereign bonds with a $100 face value. “Canadians interested in purchasing this bond should contact their investment adviser or financial institution between now and November 29, 2022,” the statement said.
“Canadians who buy Ukrainian sovereign bonds will effectively be purchasing a regular five-year Canadian government bond with a current yield of approximately 3.3%, depending on market conditions at the time of issuance. Canadians can be confident in the safety of their investment, which is fully supported by Canada’s ‘AAA’ credit rating,” the agency explained.
Reportedly, after the completion of the bond issue and subject to negotiations with Ukraine, an amount equal to the proceeds of the bond issue will be transferred to Ukraine through the International Monetary Fund (IMF) account for Ukraine.
For his part, Ukrainian Prime Minister Denis Shmygal thanked his colleague Justin Trudeau and Deputy Prime Minister and Finance Minister Chrysta Freeland for their assistance.
“Today Canada issued $500 million in Ukrainian sovereignty bonds. The proceeds will help provide vital payments and services for Ukrainians this winter. Thanks to Justin Trudeau, Hrysta Freeland and all Canadians for supporting Ukraine,” Shmygal wrote on his Twitter microblog.
As reported on November 18, the Government of Canada began collecting applications to buy five-year bonds worth 500 million Canadian dollars (CAD, about 373.4 million at current exchange rates) – Ukraine Sovereignty Bonds – for financial support for Ukraine, offering to submit them until November 29 through participating financial institutions.
Structure of approved ukrainian state budget expenditures for 2023
CMU
