Business news from Ukraine

Business news from Ukraine

MPF WEIDMANN PAPER FACTORY INCREASES PRODUCTION BY 8%

Private joint-stock company Weidmann Malyn paper factory (MPF, Zhytomyr region), the only producer of electrical insulating board for power engineering machines in Ukraine, increased production by 8.6% in January-May 2019 compared with January-May 2018, to UAH 294.48 million.
According to the UkrPapir association, in kind the factory’s production remained unchanged – 2,790 tonnes, while transformer board output grew by 29.7%, to 2,190 tonnes.
MPF Weidmann is a member of the WICOR international group, the only company in Eastern Europe that can supply almost all kinds of electrical insulating paper and cardboard meeting regional and international standards.
In 2018, the factory increased production of commodity goods by 7.7%, to almost UAH 636.46 million.

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SLOVIANSKI SHPALERY-KFTB WALLPAPER OUTPUT GROWS

Public joint-stock company Slovianski Shpalery-KFTB (previously Koriukivka industrial paper factory in Chernihiv region), one of the Ukrainian major wallpaper producers, in January-May 2019 produced 12.04 million conventional sheets of wallpaper, which was 26.9% up from a year ago, according to the UkrPapir association.
In January-April 2019, the growth was 3.9% year-over-year.
According to the association, over the period wallpaper production in Ukraine totaled 20.45 million conventional sheets of wallpaper, which was 46.3% less than in January-May 2018.
The share of Slovianski Shpalery-KFTB of total wallpaper production in January-May 2019 was almost 59%, while a year ago it was 25%.
In May alone, Slovianski Shpalery-KFTB produced 6.41 million conventional sheets of wallpaper, which is 12.4% less than in May 2018, but it is 33.8% more than in April 2019.
The volume of commodity products of the plant in January-May 2019 increased 44.4%, to UAH 685.3 million.
Slovianski Shpalery-KFTB produces several kinds of wallpaper, including washable, duplex, vinyl and acrylic wallpaper. It sells over 2,500 designs under the Slovianski Shpalery trademark.

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NEW UKRAINIAN PRESIDENT WANTS TO RELOCATE PRESIDENTIAL ADMINISTRATION TO ANOTHER PLACE

Ukrainian President Volodymyr Zelensky during an informal meeting with journalists at the Presidential Administration building in Kyiv on Wednesday declared his intention to relocate his administration from the center of Kyiv and turn the old Presidential Administration building into an art museum.
“I want this very much. The main problem for me now is time limits. Because to build a structure from scratch is impossible. But I cannot be here, because it drives me crazy,” the president said.
Zelensky said he is looking at options which will not require taking money for the move from the state budget. He said the old Presidential Administration building could be turned into an art museum.

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INTERNATIONAL AIRPORT IN DNIPRO TO BE RECONSTRUCTED

The Cabinet of Ministers of Ukraine has sent UAH 200 million for reconstruction of a runway of the international airport in Dnipro, according to a posting on the website of the Infrastructure Ministry of Ukraine. The decision was made at a government meeting on Wednesday.
“The Infrastructure Ministry supported the proposal of the Prime Minister of Ukraine and tabled for approval by the government the proposal to allocate UAH 200 million for the reconstruction of the runway of the airport in Dnipro. I support the fact that next year the airport in Dnipro could service the first flights of Ryanair and other European and Ukrainian airlines, including SkyUp,” the press service said, citing Infrastructure Minister Volodymyr Omelyan.
As reported, the Infrastructure Ministry of Ukraine supported the allocation of UAH 1 billion from the 2019 national budget for the construction of a new runway at the international airport in Dnipro within the framework of a public-private partnership project under which a private investor would build a new terminal and put it into service in 2020.
Ukrainian businessman, owner of the DCH Group Oleksandr Yaroslavsky, who had earlier invested in the renovation of the Kharkiv International Airport, has announced his plans to modernize the international airport in Dnipro.
Dnipro Mayor Borys Filatov called on Ukrainian President Petro Poroshenko to influence the situation with the airport in Dnipro.
The Dnipropetrovsk International Airport was founded in 1943. It became an independent enterprise in 2011. The airport is located five kilometers southeastward from Dnipro.

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GROWTH OF UKRAINE’S GDP IN JAN-MARCH 2019 WAS 2.5%

The growth of Ukraine’s gross domestic product (GDP) in January-March 2019 was 2.5% compared to the same period in 2018, the State Statistics Service has reported, while according to its preliminary estimate made in mid-May this figure was 2.2%. According to statistics, GDP growth in the fourth quarter of 2018 was 3.5% and 3.3% in general for 2018.
According to the State Statistics Service, real GDP in January-March of this year (taking into account the seasonal factor) rose by 0.3% compared with the previous quarter.
The service said that nominal GDP for the first quarter of 2019 amounted to UAH 807.8 billion, while the figure per capita stood at UAH 19,179, the change in deflator was 11.7%.
In early May, the National Bank estimated GDP growth in the first quarter of this year at 2.4%, and the Ministry of Economic Development and Trade somewhat later at 2.2%.
At the end of April, the NBU confirmed the forecast for GDP growth for 2019-2021. According to its expectations, this year it will slow down to 2.5%, and in 2020-2021 it will accelerate to 2.9% and 3.7% respectively.
In early April of this year, the Ministry of Finance announced that the Ministry of Economic Development and Trade had worsened the forecast for Ukraine’s GDP growth to 2.8% in 2019, while the national budget for this year was approved on the basis of the forecast of economic growth by 3%.

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JUNE 20

Official rates of banking metals from national bank as of june 20

One troy ounce=31.10 grams

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