Business news from Ukraine

Business news from Ukraine

UKRAINIAN SEA PORTS AUTHORITY COMPLETES DREDGING IN MYKOLAIV SEAPORT

The Ukrainian Sea Ports Authority has completed work on operational dredging in Mykolaiv seaport.
According to the agency’s press service, the total amount of work exceeded 890,000 cubic meters. The implementation of the project allowed bringing the depths on the approach channel of Mykolaiv port to 11.2 meters, and in the water area of Dnipro-Buzsky port to 11.5 meters.
“Restoring passport depths allows private and state-owned stevedoring companies to fully utilize the technical capabilities of port infrastructure, reduces the cost of marine logistics and makes products of Ukrainian manufacturers more competitive in the world market,” the press service said citing Head of the Ukrainian Sea Ports Authority RaivisVeckagans.
The administration notes that Mykolaiv became the fifth of seven ports where the agency planned to conduct operational dredging in 2019.
As reported, for the nine months of 2019 volume of cargo transshipment in the port amounted to more than 23 million tonnes, which is 20.4% more compared to the same period last year.

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UKRAINE INTERNATIONAL AIRLINES REDUCES FLIGHT PROGRAM

Ukraine International Airlines (UIA, Kyiv) reduces its flight program due to the need to optimize the company’s costs and return to the breakeven level.
The press service of UIA said, in particular, the airline stops operating flights to Amman (Jordan), Minsk (Belarus), and Riga (Latvia).
In addition, air traffic between Kyiv and Beijing (China) will be suspended, and the frequency of flights on the route Kyiv-Bangkok (Thailand) will be reduced to three weekly flights. It is also planned to reduce the implementation of duplicate night and day flights of UIA in eastern directions.
Such changes, according to UIA, will come into force on November 16, 2019 and will be valid “until the government of Ukraine develops an effective solution to create equal competitive conditions for Ukrainian and foreign carriers when flying over the territory of the Russian Federation.”
“UIA will offer passengers a change in the route of transportation if this is possible or a refund of the ticket if it is not possible to change the route or the passenger refuses the proposed alternative flight,” the company explained.
In addition, according to the airline, all UIA regular flights to Western European destinations will be operated during the daytime, departing from Kyiv between 09:30 and 10:30 and arriving in Kyiv between 17:30 and 18:30 local time.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF OCTOBER 25

Official rates of banking metals from national bank as of October 25

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 25/10/19

National bank of Ukraine’s official rates as of 25/10/19

Source: National Bank of Ukraine

DYNAMO KYIV TIES SCORE WITH DANISH COPENHAGEN

FC Dynamo Kyiv has tied the score (1:1) at home with the Danish Copenhagen in the third round of the group stage of the UEFA Europe League.
Already in the second minute the score in the match was opened by the Cypriot forward of the guests Pieros Sotiriou. In the 53rd minute, Dynamo managed to equalize the score thanks to a goal from central defender Artem Shabanov.
In another match of Group I, the Swedish Malmö defeated the Swiss Lugano in their field with a score of 2:1.
After three rounds, Copenhagen and Dynamo lead in the group with five points scored, Malmö scored four points, Lugano – 1 point.

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ARCELORMITTAL OPENS 11TH METAL WAREHOUSE IN UKRAINE

PJSC ArcelorMittal Kryvyi Rih has opened the third metal products warehouse in Kyiv region, from which the company plans to ship 5,000-6,000 tonnes of products per month.
According to the press release of the steel plant, the company is expanding its distribution network in Ukraine and opening the eleventh metal products warehouse in the country and the third one in Kyiv region. Earlier this year the company acquired additional sales sites in Odesa and Dnipro.
The new distribution warehouse in Kyiv (at 9 Luhova Street) is conveniently located for deliveries to Obolonsky and Podilsky districts, as well as to the central part of the capital. The planned turnover will amount to 5,000-6,000 tonnes per month, if necessary, it can be promptly increased to 8,000 tonnes. The total capacity of the new site exceeds 10,000 tonnes of metal products. Its delivery to the warehouse can be carried out by rail as there are tracks, the warehouse is also equipped with two cranes with a lifting capacity of 10 and 20 tonnes.
According to Anastasia Tatarulyeva, the deputy director general for marketing and sales at the plant, Kyiv region accounts for 20% of the total consumption of the plant’s products in the domestic market.
“It leads in terms of the volume and pace of construction in the country. It has good prospects for the development of infrastructure and the industrial sector, not to mention housing construction. In the first six months alone, more than 684,000 square meters of housing were built and commissioned here. Construction remains the key customer for us, so the development of our sales network in the capital is a natural and logical step in distribution,” she said.

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