Business news from Ukraine

Business news from Ukraine

RETAIL TRADE IN UKRAINE CONTINUES TO GROW

Retail trade in comparable prices (both by legal entities and individual entrepreneurs) in Ukraine in January-November 2019 grew by 10.4% year-over-year, the country’s State Statistics Service said on Friday.
In November 2019 alone, retail trade increased by 2.8% from October 2019 and by 12.8% from November 2018.
The highest retail trade growth in January-November 2019 year-over-year was recorded in Kyiv region (by 19.8%), Vinnytsia region (by 18.9%), Ternopil region (by 17.2%), and Luhansk region (by 16.5%).
The State Statistics Service says its report does not include data from temporarily occupied territories, namely the Autonomous Republic of Crimea, the city of Sevastopol and certain districts in Donetsk and Luhansk regions.

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IRISH LOW-COST RYANAIR LAUNCHES FLIGHTS FROM UKRAINIAN LVIV TO POZNAN

Irish-registered low-cost airline Ryanair (Dublin) is to launch flights from Lviv to Poznan (Poland) from April 1, 2020. Such flights will be operated twice a week – on Wednesdays and Sundays, according to information in the airline’s booking system. The price starts from EUR22.05 (one way).
As reported, with the summer flight schedule to be launched late in March 2020, Ryanair will cease operating flights from Kyiv to Nuremberg (Germany) and Skavsеa (100 km southwest of Stockholm, Sweden).
Ryanair daily carries out more than 2,000 flights to/from 236 airports. In the past financial year, the company transported 130.3 million passengers. Its fleet has 460 Boeing-737 aircraft.
The company entered the Ukrainian market in 2018.

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UKRAINE’S PARLIAMENT RETURNS GAMBLING BILL FOR REFINING

Ukraine’s Verkhovna Rada has returned bill No. 2285-d on the public regulation of activities in the sphere of organization of gambling for refining by the committee and preparing it for repeated first reading. The document was registered in parliament on December 18.
An Interfax-Ukraine correspondent has reported that MPs did not support the bill at first reading casting only 213 votes with at least 226 required, while 243 MPs backed the decision to send the document for repeated first reading.
As reported, the Cabinet of Ministers registered bill No. 2285 in the parliament, and MPs submitted seven more alternative documents, among is finalized bill No. 2285-d, authored by MP Oleksandr Dubinsky (the Servant of the People parliamentary faction).
The bill proposes to limit the number of licenses for gambling establishments. In addition, it is proposed to establish mandatory verification of players when accepting bets and registering winners in the online monitoring system.
At the same time, the government bill proposes to establish special gambling zones for casinos and slot machines: the territory of five-star hotels for casinos and three star and higher rated hotels for slot machines.
The law on the national budget for 2020 provides for revenues from licenses in the field of gambling in the amount of UAH 4.4 billion, which will be sent to the budget’s special fund, and everything that exceeds the amount specified in the law will be spent on subventions to local budgets to finance various educational and healthcare programs.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 21/12/19

National bank of Ukraine’s official rates as of 21/12/19

Source: National Bank of Ukraine

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

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

One troy ounce=31.10 grams

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UKRAINIAN HOLDING ASCANIA GROUP ENTERS ELECTRICITY AND NATURAL GAS MARKETS

The Ascania multi-profile Ukrainian holding has entered the electricity and natural gas markets by creating Ascania Energy to supply electricity and natural gas to commercial consumers, the founder and shareholder of the holding, Valeriy Gorban, has said.
“We were prompted to open this business line by the fear of a significant increase in electricity tariffs after the launch of the new market model. When the market opened, we predicted an increase in the cost of electricity for enterprises by 20-25%. In fact, after July 1, the price soared by 40-50%. Our group consumes a large amount of electricity. These are tremendous costs. But understanding the market makes it possible to partially compensate for these losses,” he told Interfax-Ukraine.
According to Gorban, today, the company provides customers with about 17 million kWh of electricity monthly, and began to prepare for entering a new segment for itself early 2018.
“In recent years, we have observed the process of gradual liberalization of the energy market of Ukraine. The creation of a fairly free natural gas market in 2016-2017 allowed us to diversify the supply of this resource, gain expertise in this segment and start supplying gas,” the founder of the holding said.
Ascania Energy is part of the Ascania Group, which unites 12 companies. Among the areas of activity are import, production and distribution of food products, honey processing and export – Ascania-Pak, rose growing – Ascania-Flora, soft drinks production – Kvass Beverages, logistics services, electricity supply, small arms production weapons, security services and training of security personnel of private and state structures.
The group has branches throughout Ukraine and offices in Berlin (Germany) and Guangzhou (China).

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