Business news from Ukraine

Business news from Ukraine

TOP 20 COUNTRIES UKRAINE HAS POSTED THE HIGHEST SURPLUS OF TRADE IN GOODS JAN-MARCH 2021 (THSD USD)

TOP 20 COUNTRIES UKRAINE HAS POSTED THE HIGHEST SURPLUS OF TRADE IN GOODS JAN-MARCH 2021 (THSD USD)

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PASSENGERS CARRIED IN JAN-MARCH OF 2021, IN MLN

PASSENGERS CARRIED IN JAN-MARCH OF 2021, IN MLN

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FERREXPO TO EARLY REPAY $257 MLN PRE-EXPORT FINANCE FACILITY

The Board of Directors of Ferrexpo with assets in Ukraine has approved the early repayment of its outstanding pre-export finance facility (PXF facility) the agreement on which was signed in 2018. As at December 31, 2020, the group had $257 million of debt drawn on its PXF facility.
The company said on Wednesday that repayment is to take place today, while earlier repayment was scheduled to take place quarterly between 2020 and 2022.
Early repayment of this facility reflects the strong performance of the group’s operations, including recent growth in both the group’s production volumes and product quality, following the recent completion of investments throughout the group’s operations, representing prudent cash management practice.

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SALARY ARREARS IN UKRAINE 6.1% DOWN IN MAY

The total wage arrears in Ukraine in May of this year fell by 6.1%, and as of June 1, 2021 amounted to UAH 3.351 billion, and since early 2021 they grew by 28.3%, the State Statistics Service said last week.
According to the service, the amount of wage arrears at enterprises that stopped filing reports during 2019-2020 amounted to UAH 166.1 million on the same date.
As reported by the statistics authority, a reduction in wage arrears in May 2021 was recorded in Luhansk (by 73.7%), Volyn (by 49%), Lviv (by 21.7%), Donetsk (by 17.5%), Kirovohrad (by 9.5%) and Chernihiv (by 2.9%) regions.
At the same time, an increase in wage arrears was seen in Khmelnytska (by 36.8%), Zakarpattia (by 19.8%), Cherkaska (by 14.5%), Kherson (by 12.7%), Zaporizhia (by 12.6%), Ivano-Frankivsk (by 11.7%), Vinnytsia (11.3%), Zhytomyr (10.5%), Rivne (8.3%), Dnipropetrovsk (7.4%), Kyiv and Ternopil (6.4%) %), Odesa (5.2%) regions and Kyiv city (0.7%).
The State Statistics Service said that among economic sectors in May 2021, wage arrears grew in in the field of administrative and support services – by 21.9% (to UAH 17.93 million), financial and insurance activities – by 20% (to UAH 0.23 million), agriculture – by12.9% (to UAH 74.52 million), in real estate transactions – by 12.5% (to UAH 41.04 million), education – by 12.5% (to UAH 20.59 million), in wholesale and retail trade – by 11% (to UAH 40.26 million), professional, scientific and technical activities – by 7% (to UAH 274.27 million), at transport, warehouse and courier enterprises – by 4.8% (to UAH 193.72 million), in the field of informatization and telecommunications – by 4.2% (to UAH 15.91 million), and construction – by 2.4% (to UAH 84.14 million).
At the same time, in the field of art, sports, entertainment and recreation, wage arrears decreased 10% (to UAH 1.74 million), in industry – 9.6% (to UAH 2.506 billion), in the field of temporary accommodation and catering 7.7% (to UAH 1.89 million), healthcare – 3.7% (to UAH 69.72 million), public administration, defense and compulsory social insurance – 2.3% (to UAH 5.38 million).

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UKRAINIAN FOOTBALL TEAM BEATS SWEDEN AND REACH QUARTER-FINALS OF EUROPEAN FOOTBALL CHAMPIONSHIP

The Ukrainian national football team beat the Swedish national football team with a score of 2:1, reaching quarter-finals of the European Football Championship 2020.
The Ukrainian national football team beat the Swedish national football team with a score of 2:1 and advanced to quarter-finals of the European Football Championship, where it will play against the England national football team, which beat Germany on Tuesday. The match will take place in Rome.
The Ukraine-Sweden match took place on Tuesday June 29 in Glasgow, Scotland.
The Ukrainians opened the scoring in the 27th minute. Oleksandr Zinchenko scored on a pass of Andriy Yarmolenko. In the 43rd minute, Emil Forsberg equalized the score.
The winning goal was scored by Artem Dovbyk, it was his first goal for the national team a few minutes before the end of extra time.

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UNION OF DAIRY ENTERPRISES TO SEEK INTRODUCTION OF EMBARGO ON BELARUSIAN DAIRY

A number of enterprises representing the dairy industry are preparing a statement for consideration by the Interdepartmental Commission on International Trade to ban the import of dairy products from Belarus to Ukraine, since the embargo it introduced in 2016 on Ukrainian dairy products is a discriminatory and unfriendly action.
This was announced by Head of the Union of Dairy Enterprises of Ukraine Vadym Chaharovsky to Interfax-Ukraine on Tuesday.
“We believe that in this case it is necessary to apply Article 29 of the law on foreign economic activity on protection from unfriendly actions of states or economic groups. We believe that the Republic of Belarus took such discriminatory unfriendly actions against Ukraine,” he said.
Chaharovsky said that in 2015, Belarus supported the Russian embargo on the import of Ukrainian dairy products, which came into effect on January 1, 2016. At the same time, the Ukrainian market is currently open for the products of 14 milk processing enterprises from Belarus.
According to Article 29 of the law on foreign economic activity, in response to discriminatory and/or unfriendly actions of other states, customs unions or economic groups, Ukraine may apply a full or partial ban on trade; deprivation of most favored nation or preferential special treatment; introduction of special duties; introduction of a licensing regime for foreign economic operations; establishment of quotas.
The head of the union said that the Ministry of Economy refused to conduct a special investigation of the growing imports of dairy products to Ukraine, an application for which was submitted in February 2021 by a group of 14 enterprises representing the dairy industry. He said that the enterprises are going to submit a repeated application within the next 10 days.

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