Business news from Ukraine

Business news from Ukraine

UKRAINE TO RAISE STEEL OUTPUT BY 2.8%

Ukrainian metallurgical enterprises intend to increase steel production by 2.8% in September 2019 in comparison with the planned figures for August, to 1.85 million tonnes from 1.8 million tonnes.
According to information from the Ukrmetalurgprom association, the plan for September also envisages decrease in pig iron production by 2.8%, down to 1.75 million tonnes from 1.8 million tonnes and an increase of total rolled steel production by 3.1% compared to the previous forecast for August, to 1.65 million tonnes from 1.6 million tonnes.
Ukraine in January-July 2019 produced iron ore concentrate in the amount of 36.92 million tonnes (105% against the same period in 2018), sinter some 18.42 million tonnes (101%), pellets some 12.77 million tonnes (102%), gross coke (6% moisture) some 5.99 million tonnes (95%), pig iron some 11.89 million tonnes (99.8%), steel some 11 million tonnes (104%), rolled products some 11 million tonnes (102%), and pipes some 0.67 million tonnes (103%), according to the updated data.
In July pig iron production stood at 1.65 million tonnes (108% from June 2019), that of steel some 1.78 million tonnes (108%), and rolled goods some 1.51 million tonnes (101%).
As of August 13 this year, 17 out of 21 blast furnaces, eight out of nine open-hearth furnaces, 14 out of 16 converters, five out of 15 electric furnaces and 15 out of 15 continuous casting machines were in operation.
In July 2019, the metallurgical enterprises received nearly 2.4 million of iron ore concentrate (118% if to compare with June 2019), thus none of iron ore concentrate imported last months.
In July 2019, scrap collectors stored 192,000 of scrap iron (59% to June 2019), the total volume was supplied to the domestic enterprises. None of scrap iron was exported last month.

FRENCH SPEED-TEST COMPANY NPERF RANKS KYIVSTAR FIRST AMONG THREE LARGEST MOBILE OPERATORS IN UKRAINE

The French speed-test company nPerf has published a study of three largest mobile communications operators in Ukraine, where Kyivstar ranks first, according to a presentation on nPerf’s website. The study was conducted from July 1, 2018 to June 30, 2019. nPerf specialists in total analyzed more than 23,100 tests in 2G, 3G, 4G networks.
The number of conventional network speed tests was 10,200, the number of tests while browsing the web was 3,800, and the number of tests during streaming was almost 3,000.
At the same time, 54.9% of tests were carried out in the Kyivstar network, 28.3% in the Vodafone Ukraine network, and only 16.8% in lifecell. The success rate of tests in operator networks was 91.95%, 91.11%, and 88.05%, respectively.
According to the nPerf report, the average data transfer rate in the Kyivstar network reached 22.76 Mb/s download and 13.12 Mb/s upload, while at Vodafone Ukraine these figures were 15.09 Mb/sand 7.64 Mb/s, respectively, while lifecell has 14.94 Mb/s and 6.36 Mb/s.
Kyivstar also achieved the best result in terms of video streaming quality – 84.65% (versus 82.5 for lifecell and 73.97% for Vodafone Ukraine).
At the same time, the third largest mobile operator in Ukraine, lifecell, has the average largest delay in signal transmission – 61.65 ms. Kyivstar with 62.92 ms is second, Vodafone Ukraine is third, with an indicator of 83.92 ms.
According to the results of all tests, the Kyivstar mobile network scored 56,570 points, beating Vodafone Ukraine by almost 9,000 points.

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ORTHODOX JEWISH CHAMBER OF COMMERCE (NEW YORK) ASKS UKRAINIAN PRESIDENT ZELENSKY TO CLEAN UP LOCAL CORRUPTION IN UMAN

Founder and head of the Orthodox Jewish Chamber of Commerce (New York) Duvi Honig has called on Ukrainian President Volodymyr Zelensky to take measures to clean up corruption among local officials in Uman, Cherkasy region and in so doing resurrect the city as one of the largest Jewish spiritual centers. Honig said during a press conference at the Kyiv-based Interfax-Ukraine news agency on Friday that for more than 10 years the Jewish religious community of the Bratslav Hasidim has been fighting for the right to build a Jewish memorial complex in Uman. He said a synagogue with a capacity of 30,000 is also planned.
He said in 2008, a one-hectare land plot was leased for 49 years to the community for the construction of the facility. A detailed plan of the territory allocated for the construction of the center was then developed. However, he said local authorities began to demand a bribe for approving the construction plan of the complex.

Honig said after the refusal to give a bribe, the purpose of the land on which the construction was supposed to be was changed.
“I would like to thank President Volodymyr Zelensky for saying that he wants to build little Jerusalem out of Uman, that he wants to stop corruption in Ukraine. I came to Uman and looked at what was happening there, sorted out the mayor, deputy mayor, created a committee or commission if necessary to monitor the situation […] how the purpose of the site was changed, because now the construction site has been stolen,” Honig said.

According to him, currently there are no opportunities for the construction of the memorial complex.
“In fact, there may be a good wave of investments that can help Uman and Ukraine prosper. […] But this may not happen precisely because of corruption,” he said.
As reported, Israeli Prime Minister Benjamin Netanyahu will visit Kyiv on August 18-20. He is expected to meet with Zelensky during his trip.

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SWEDISH OWNER OF H&M TO OPEN STORE AT RIVER MALL IN KYIV

The Swedish owner of the clothing chain Hennes & Mauritz AB (H&M) will open a third store in Ukraine at River Mall shopping and leisure center at 12 Dniprovska Naberezhna Street on September 12.
As a press service of River Mall’s broker Colliers International (Ukraine) reported, the two-storey store with an area of 2,900 square meters will be designed in a new interior concept.
According to the broker, H&M Sport men’s collection will be on display in the new store for the first time in Ukraine.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 16/08/19

National bank of Ukraine’s official rates as of 16/08/19

Source: National Bank of Ukraine

FORMER WORLD CRUISERWEIGHT CHAMPION OLEKSANDR USYK TO MAKE HEAVYWEIGHT DEBUT IN CHICAGO

Former world cruiserweight champion Oleksandr Usyk (16-0, 12 KOs) will make his heavyweight debut at Wintrust Arena in Chicago on October 12, ZN.UA has reported, quoting manager Egis Klimas. The name of the opponent has not been disclosed yet.
Usyk was to make his heavyweight debut on May 25, but the fight against Carlos Takam (36-5-1, 28 KOs) was postponed due to Usyk’s injury. It was reported that the postponed fight would take place in October, but the Cameroonian boxer signed a contract with the Star Boxing promotion company, which could dramatically change the boxer’s plans.
Last November, Usyk successfully defended his titles, defeating Briton Tony Bellew in Manchester. Later, the Ukrainian gave up his cruiserweight belts and decided to move to heavyweight.

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