Business news from Ukraine

Business news from Ukraine

AVERAGE WHOLESALE PRICES OF FUEL IN UKRAINE CHANGE

The average large-scale wholesale price of petrol and diesel fuel in Ukraine fell by 3.1%, to UAH 20,000 per tonne over the past week from September 21 to September 28.
The average large-scale wholesale price of A-92 fell by 1%, to UAH 24,040 per tonne, the price of A-95 petrol – by 1.1%, to UAH 25,070 per tonne and the price of diesel fuel fell by 1.2%, to UAH 19,320 per tonne.
Changes in large-scale wholesale prices of fuel in UAH per tonne (VAT included, 100% prepayment):

©Source: A-95 Consulting Company
Meanwhile, the average small-scale wholesale price of A-92 increased by 0.1%, to UAH 18.80 per liter; that of A-95 by 0.2%, to UAH 19.78 per liter. The price of diesel fuel fell by 0.8%, to UAH 16.45 per liter.
Changes in small-scale wholesale prices of fuel in UAH per liter (VAT included, 100% prepayment):

©Source: A-95 Consulting Company

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FERREXPO DONATES AMBULANCES TO HORISHNI PLAVNI DOCTORS

The Level I Intensive Care Hospital and the Primary Health Care Center in Horishni Plavni has received two Renault Master ambulances – another consignment of aid from Ferrexpo mining company, whose main production assets are located in this city.
“The total cost of the vehicles is about UAH 3 million. This delivery was carried out as part of the large Ferrexpo assistance program to combat COVID-19,” the company said in a press release.
Mayor of the city Dmytro Bykov thanked for the systematic support provided by the Ferrexpo mining and processing plants (GOK).
“Unfortunately, the statistics of COVID-19 cases are not encouraging with good news, the situation is also complicated by seasonal outbreaks of other viral diseases. We do not stop assistance programs, studying the needs and systematically transferring the necessary equipment, transport, medicines and protective equipment to hospitals,” the director of the charitable foundation of Poltava GOK, Viacheslav Miniazev, said.
In March of this year, the Ferrexpo board of directors decided that the group’s enterprises, including Poltava, Yeristovo and Belanovo GOKs, will allocate $ 2.5 million in assistance to medical institutions to fight the COVID-19 pandemic in Poltava region, as well as within the framework of national programs throughout the territory Ukraine. It was noted that, first of all, the money will be used for the purchase of artificial lung ventilation devices, test systems for detecting coronavirus and other necessary equipment, and further distribution of assistance will be carried out in accordance with the priority needs of medical institutions.
Ferrexpo is an iron ore company with assets in Ukraine. The London Stock Exchange (LSE) trades the shares of British-based Ferrexpo plc, which owns 100% of the shares of Swiss-based Ferrexpo AG, which, in turn, holds a 100% stake in Poltava GOK, 100% of Yeristovo GOK and 99.9% of Belanovo GOK. Kostiantyn Zhevaho via Fevamotinico S.a.r.l. owns 50.3% of Ferrexpo shares.

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TREATMENT OF UKRAINIANS ABROAD SHOULD BE REDUCED – OPINION

The program “Treatment of Ukrainian citizens abroad” in the long term should be reduced to isolated cases, economist at the CASE Ukraine analytical center, author of a study on the implementation of the program and identification of more effective ways of state financing Natalia Leschenko has said.
“The program needs to be abandoned in the short term, but it requires tight budget constraints and prioritization of referrals for treatment (for example, referral to treatment of children, patients who have a high chance of returning to normal life). In the long term, the program needs to be reduced to isolated cases,” she said during a presentation of the study results on Tuesday.
Leschenko also said that it is necessary to introduce an assessment of the quality of such treatment.
“What would ideally like to see is an assessment of the patient’s health outcomes after treatment. The comparison of these results with the reference ones established on the basis of scientific research and clinical evaluations. This requirement is in the legislation of other countries that treatment abroad should be paid for at the state expense, only if this treatment is proven to be effective. Examples include readmission rates, mortality, complications,” she said.
“Our proposal is, in principle, not to increase funding for the program. The governments of most countries adhere to the principle of limited funding, that is, payment of a percentage of treatment or full payment to a limited number of people,” the expert said.
As reported, under the budget program “Treatment of Ukrainian citizens abroad” in 2020, UAH 1.089 billion is provided.

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UKRAINE REOPENS BORDERS TO FOREIGNERS STARTING FROM SEPTEMBER 28

Ukraine reopened its borders to international visitors at 00:01 a.m. on September 28, the Ukrainian State Border Guard Service said.
“A decree which also set out restrictions on foreigners’ entry continues to be valid. This is Government Decree No. 641. At the same time, it imposed a ban on foreigners’ entry to the territory of our country precisely from August 28 and until 00:01 a.m. on September 28. Thus, as a matter of fact, this norm that banned foreigners from entering our country ceased to be in effect overnight. From now on, foreigners are allowed to enter our country,” State Border Guard Service spokesman Andriy Demchenko told Interfax-Ukraine on Monday.
Border guards are acting in compliance with the law that regulates passage across the state border of Ukraine, i.e. the law “On Border Control”, and in compliance with the government’s decree on foreign citizens’ exit and entry to Ukraine, he said.
There are currently no separate requirements for foreigners to self-isolate or have travel medical insurance when coming to Ukraine, he said.
“This norm has ceased to be in effect. Therefore, there are presently no separate requirements that the government would have imposed on foreigners who enter Ukraine during the quarantine,” Demchenko said.
As reported earlier, Ukraine banned foreign citizens from entering its territory from 00:01 a.m. on August 28 and until 00:01 a.m. on September 28.

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STRUCTURE OF IMPORT OF SERVICES IN 1st QUARTER OF 2020 (GRAPHICALLY)

Structure of import of services in 1st quarter of 2020 (graphically)

GALPACK BECOMES OWNER OF ROHAN CARDBOARD MILL

A large Ukrainian manufacturer of corrugated cardboard and corrugated packaging, Galpack LLC (Zhydachiv, Lviv region) increased its stake in PJSC Rohan cardboard mill (RKF, Rohan, Kharkiv region) to 86.5325% from 43.266%.
As reported in the information disclosure system of the National Securities and Stock Market Commission, PJSC RKF received the relevant information from the depository on September 23.
According to the National Securities and Stock Market Commission, as of Q2 2020, in addition to Galpack LLC with 43.266% stake, among the major shareholders were Tetiana Chykhladze (19.2988%) and Vitaliy Tereshchenko (Kharkiv Regional Council deputy, Chairman of the board of the mill in 1998-2007) with a package of 26.5411%.
Founded in 1858, the Rohan cardboard mill produces roofing board (for roofing felt production), packaging cardboard (since 2020), as well as roll packaging for food and pharmaceutical industry. The products are almost entirely supplied to the domestic market.
GalPak LLC is a part of UGPS (Ukrainian Green Packaging Solutions) group of companies with a head office in Zhydachiv, which specializes in the production of containers, packaging, corrugated board, laminating, tape, stretch film and components for corrugated packaging.
UGPS has representative offices in Lviv, Kyiv, Uzhgorod, Odesa and Kharkiv, as well as in Radom (Poland).

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