Business news from Ukraine

Business news from Ukraine

LAKSHMI MITTAL SAYS ARCELORMITTAL TO CONTINUE MAKING INVESTMENTS IN UKRAINE

Lakshmi Mittal, the chairman and CEO of the world’s largest steelmaking company ArcelorMittal, says that the economic situation in Ukraine has stabilized, which now allows Ukraine’s largest steelmaker РJSC ArcelorMittal Kryvyi Rih to operate successfully and continue to make investments in its economy.
“At present, the situation in Ukraine is stable. And our enterprise ArcelorMittal Kryvyi Rih has been operating smoothly,” Mittal told Interfax-Ukraine at the General Assembly of the World Steel Association (Worldsteel), which opened in Tokyo on Monday. At the same time, he was unable to comment when asked about his estimate of a decent wage for steelworkers in Kryvyi Rih who have been trying to have it raised up to EUR 1,000 a month and which currently is about a half of that figure.
“I have no idea about a wage for steelworkers in Kryvyi Rih. All this depends on the companies involved and the situation within them,” Mittal said. He refrained from any comments regarding his company’s capabilities and timeframes for raising wages for steelworkers employed by ArcelorMittal Kryvyi Rih.
As was reported earlier, employees of ArcelorMittal Kryvyi Rih held a press conference on March 27, 2018 to make public their demands to their management, in particular, about raising wages up to EUR 1,000 a month from April 1, securing the safety conditions at work, and preventing any ungrounded cutting of jobs there.

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UKRAINIAN PM EXPECTS PARLIAMENT TO ADOPT DRAFT BUDGET AT FIRST READING THIS WEEK

Ukrainian Prime Minister Volodymyr Groysman has said he expects the Verkhovna Rada to adopt the country’s draft state budget for 2019 at first reading during the current plenary week from October 16 to 19. “This week we are expecting budget conclusions and the first reading of the draft state budget for 2019. People’s deputies have already submitted more than 2,000 proposals,” Groysman wrote on his Facebook page.

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UKRAINE SEES 2% DECLINE IN MILK PRODUCTION

The production of milk in Ukraine (excluding the temporarily occupied Crimea and Sevastopol, part of Donbas) in January-September 2018 declined by 2% compared to the same period in 2017, to 7.908 million tonnes.
At the same time, egg production in the first nine months grew by 3.1% compared to the same period in 2017, to 12.484 billion eggs, the State Statistics Service of Ukraine said.
Production of meat (in live weight) in January-September 2018 grew by 0.3%, to 2.276 million tonnes.
According to earlier statistics reports, milk production in Ukraine in 2017 decreased by 0.5% from 2016, to 10.329 million tonnes, meat (in live weight) by 0.4%, to 3.259 million tonnes. Production of eggs in 2017 rose by 3.2%, to 15.578 billion eggs.

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AIRCRAFT COMPANY ANTONOV INTENDS TO DELIVER TWO REGIONAL AN-158S TO UKRAINE’S FANAIR

Antonov state enterprise (Kyiv) intends to ensure the assembly and delivery of two regional An-158 jets for 97 passengers to the Ukrainian airline Fanair by the end of 2020. An Interfax-Ukraine correspondent said the relevant cooperation plans are enshrined in a memorandum of intent signed by the parties within the framework of the 11th international aerospace show Aviasvit XXI held in Kyiv on October 9-12.
The signing of the memorandum is the basis for signing a firm contract. According to the memorandum, the aircraft are to be delivered within six months after the activation of the contract under the scheme of financial leasing. The approximate delivery time of the aircraft is the end of 2020.
Antonov state enterprise is the leading Ukrainian developer and manufacturer of aircraft equipment, a recognized world leader in the niche of transport aircraft of the widest use. By decision of the government, the company has been part of Ukroboronprom state concern since 2015.

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