National bank of Ukraine’s official rates as of 02/09/19
Source: National Bank of Ukraine
Ukraine’s President Volodymyr Zelensky has signed a decree appointing Aivaras Abromavicius director general of the Ukroboronprom state concern, according to a document posted on the presidential site. “Aivaras Abromavicius is appointed general director of the state concern Ukroboronprom,” according to decree No. 641/2019 published on the Ukrainian presidential website on Friday evening.
Before that, the Ukrainian president issued decree No. 640/2019 relieving Pavlo Bukin of his duties as head of Ukroboronprom.
Abromavicius was Ukraine’s economy minister between December 2014 and April 2016.
The right of legislative initiative in the Ukrainian parliament, which previously belonged to the president, the Cabinet of Ministers and members of parliament, may be given to the people of Ukraine, according to the text of bill No. 1015 changing Article 93 of the Constitution of Ukraine (on the people’s legislative initiative), submitted by Ukrainian President Volodymyr Zelensky on August 29.
The text of the document was posted on the Ukrainian parliament website on Friday.
The bill proposes including in Paragraph 1 of Article 93 of the Constitution the words that “the right of legislative initiative in the Verkhovna Rada belongs to the people, the president of Ukraine, the Cabinet of Ministers of Ukraine, members of parliament of Ukraine and is exercised by them in the situations and in accordance with the procedures determined by the Constitution and laws of Ukraine.”
The document proposes added to the Constitution a paragraph stating that “the law is adopted in accordance with the legislative procedure requirements determined by the Constitution and laws of Ukraine.”
According to the explanatory note attached to the bill, the purpose of the changes proposed by the bill is to ensure an effective mechanism of legislative initiative in Ukraine by broadening the list of its subjects.
The bill needs to be adopted because the list of subjects of the right of legislative initiative determined by the Constitution “is narrow and makes it impossible for the people of Ukraine as the only source of power to be such subject.”
Ukraine currently does not have a legislative mechanism for implementing the proposal to give the right of legislative initiative to the people.
Nova Poshta Group of Companies has started testing aviation delivery service within Ukraine and now draws out new delivery formats.
“Boxes of Nova Posta are travelling between cities with million-plus cities by plane. Not all so far because we are still testing the air delivery service,” Nova Poshta reported on its official page in Facebook.
The testing flight Kyiv-Lviv started in the second part of August 28.
“Today we sent the first test flight Kyiv-Lviv-Kyiv! This means that we will soon offer customers delivery on the same day from Kyiv to Lviv, and then to Kharkiv, Dnipro and Odesa. And also we will connect the cities of western, eastern and southern Ukraine with guaranteed delivery on the next day,” Nova Poshta co-owner Volodymyr Popereshniuk wrote on Facebook.
Nova Poshta, founded in 2001, is the leader in the local express delivery market. The company’s network consists of over 3,300 offices throughout Ukraine.
Avangard agricultural holding, the largest egg producer in Ukraine, in January-June 2019 saw $110.89 million in net loss, which is 3.1 times more than a year ago.
According to a company report posted on the London Stock Exchange (LSE) on Friday, consolidated revenue grew by 24.6%, to $84.78 million, and gross loss – 14 times, to $65.1 million.
Export revenue for the reporting period increased 1.6 time, to $44.8 million, and its share amounted to 53% of the company’s consolidated revenue.
In the first half of the year, egg production amounted to 1.78 billion pieces, which is 44% more than in the same period in 2018, their sales grew 1.9 times, to 1.59 billion pieces, exports – 2.6 times, to 785 million pieces.
The average selling price of eggs was UAH 1.23 per piece, excluding VAT, which is 24% lower than the level of the first half of last year, in U.S. dollars – $0.046 per piece, excluding VAT (25% less).
The production of dry egg products during the reporting period amounted to 2,380 tonnes (34% less), their sales also decreased 34%, to 2,280 tonnes. Export of dry egg products amounted to 1,590 tonnes and decreased by 46%.
The average selling price of dried egg products was $3.84 per kg, an increase of 4% from January-June 2018.
As of June 30, the total number of birds was 16 million, which is 15% more compared to the same date last year. The number of laying hens amounted to 11.2 million (35% more).
According to the report, negotiations with creditors on restructuring are ongoing.
Net cash used in investing activities increased to $14.2 million from $1.2 million in the first half of 2018 as a result of an increase in investment. In general, the net cash outflow in the reporting period amounted to $20.9 million compared to a net cash inflow of $4.1 million as of June 30, 2018.
As of June 30, 2019, the total debt of the company increased slightly compared to December 31, 2018 and amounted to $391.5 million. Net debt increased 6.5%, to $390.9 million. Issue of the company’s eurobonds maturing on October 29, 2018 amounted to 60% of total debt.
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The official exchange rate set for August 29, 2019 was UAH 25.221856per U.S. dollar and that for August 30, 2019 was UAH 25.232299 per U.S. dollar.
