Business news from Ukraine

Business news from Ukraine

“Kyivstar” restores access to SMS services

As of 11:00 a.m. on Monday, December 18, Kyivstar, Ukraine’s largest telecommunications operator, has restored access to SMS services, including international roaming, the company’s press service said.

“Customers also have access to voice communication services, mobile data transmission, and Home Internet services. Access to M2M services for business customers has been restored,” the statement said.

It is noted that in some settlements, in particular in Kyiv, there are still local difficulties with the availability of Home Internet.

“The company has engaged all available personnel, including those from other regions and oblasts, to restore the service as soon as possible,” the mobile operator said.

It is noted that the technical work is being carried out gradually, in compliance with all safety requirements.

Kyivstar also reminded that if the SIM card is not registered in the network, you need to restart the phone or turn on and off the airplane mode. In addition, it helps to select the Kyivstar network in the phone settings.

Bonuses and compensations will be credited to subscribers who could not use communication services due to the hacker attack only after the network is fully stabilized and all services are launched. Please wait for official information from the company, Kyivstar assured.

As reported, after a failure in the early morning hours of December 12 caused by a large-scale cyberattack, Kyivstar began restoring voice services in the evening of December 13, the company’s mobile Internet started working again in some regions a day later, and the company announced its full restoration in the country in the evening of December 15.

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Top 10 mining companies earned 14% less in 2022

Which market leaders increased their wealth in the first year of the full-scale invasion?

The revenues of the top 10 mining companies decreased by 14% in the first year of the full-scale war, according to the Opendatabot Index. In total, the market leaders earned UAH 295.15 billion over the year. These are companies engaged in the extraction of iron ore, natural gas, and coal. Six out of ten companies are owned by Rinat Akhmetov, and the leader in the sector is the state-owned Ukrgazvydobuvannya.

The leading companies in the extractive industry earned UAH 295.15 billion. This is 14% less than in 2021, when these businesses earned UAH 343.24 billion. Almost half of the total income of the leaders is accounted for by 3 natural gas companies.

The state-owned company Ukrgazvydobuvannya was the top performer, with revenue of UAH 86.38 billion. This is 29% of the total revenue of the top 10. At the same time, the company’s earnings fell by 4% compared to 2021.

It is worth noting that 6 of the top 10 companies belong to Rinat Akhmetov’s SCM Group. These companies accounted for 54% of the total revenue of the top 10 companies – UAH 159.57 billion.

Three of Akhmetov’s companies in the ranking increased their revenues and moved up in the ranking. These are:
– DTEK Pavlohradvuhillya increased its revenues by 1.8 times, taking the second position or UAH 44.2 billion,
– Pokrovskoye Mine Administration (UAH 38.47 billion) earned 1.8 times more, moving up to the 3rd place in the ranking,
– Naftogazvydobuvannya’s revenues increased by 2.3 times to UAH 35.99 billion. This is the __ position in the ranking

On the contrary, the revenue of 3 other SCM Group companies engaged in iron ore mining has significantly decreased compared to 2021:
– by almost 4 times at Northern GOK, to UAH 13.8 billion
– by more than 3 times, to UAH 12.7 billion, at Inguletsky GOK,
– by one third – at Central GOK (UAH 14.3 billion).

Ukrnaftoburinnya, previously owned by Ihor Kolomoisky, Vitaliy Khomutynnik and Pavlo Fuks, which was transferred to the ARMA by a court decision, was included in the ranking in 2022. This is despite the fact that in 2022 it received 25% less revenue compared to 2021 – UAH 9.7 billion.

The last 2 companies in the top are engaged in the extraction of iron ore and belong to the FERREXPO group (Kostiantyn Zhevago), which reduced their revenues last year. These are Poltava Mining, whose earnings decreased by 2 times, and Yeristovo Mining, whose revenue fell by 16%. Together, these two companies earned UAH 39.48 billion.

The Opendatabot index is an analytical tool for assessing the real situation and geography of Ukrainian business based on data from state registers, Opendatabot registers, financial statements of companies, information on ties with Russia, sanctions lists and other analytical tools of Opendatabot.
https://opendatabot.ua/analytics/index-mining_industry-2023

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Ukraine cuts coke imports by 11% in January-November

In January-November this year, Ukraine reduced imports of coke and semi-coke in physical terms by 10.9% year-on-year to 303,208 thousand tons.

According to statistics released by the State Customs Service (SCS), coke imports in monetary terms decreased by 29.4% to $119.198 million during this period.

Ukraine exported 3,383 thousand tons of coke in 11 months of 2023, down 12.3% year-on-year. In monetary terms, it decreased by 22.2% to $787 thousand.

Exports were carried out to Moldova (100% of supplies in monetary terms), while imports were mainly from Poland (88.65%), Colombia (8.39%) and the Czech Republic (2.25%).

As reported, in 2022, Ukraine reduced exports of coke and semi-coke in physical terms by 98% compared to the previous year – to 3,856 thousand tons, and in monetary terms by 97.6% – to $1,011 million. The main exports were made to Hungary (42.63% of supplies in monetary terms), Georgia (37.69%) and Turkey (17.41%).

In 2022, Ukraine imported 359.192 thousand tons of coke and semi-coke, which is 54.5% less than in 2021. In monetary terms, imports decreased by 50.3% to $174.499 million. Imports were carried out mainly from the Russian Federation (43.43% of supplies in monetary terms, before the war), Poland (30.07%) and the Czech Republic (13.15%).

As a result of the war, a number of mines and coke plants are located in the territories temporarily not controlled by Ukraine.

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Oil prices rise, Brent trades at $76.9 per barrel

Oil prices are rising on Monday amid fears of disruptions in the supply of raw materials through the Red Sea due to attacks by Yemeni Houthis on ships.

The Suez Canal Authority said it was “closely monitoring” the situation after the US reported 14 Yemeni Houthi attack drones shot down on Saturday, targeting merchant ships. A number of shipping companies, including A.P. Moeller-Maersk AS and Hapag-Lloyd, have announced that they will suspend the passage of their vessels through the Red Sea.

The Red Sea “is one of the most important routes for maritime oil supplies,” accounting for about 10% of global flows, says Manish Raj, managing director of Velandera Energy Partners.

The cost of February futures for Brent on the London ICE Futures exchange as of 7:20 a.m. on Thursday amounted to $76.88 per barrel, which is $0.33 (0.42%) higher than at the close of the previous session. As a result of previous trading, these contracts fell by $0.06 (0.1%) to $76.55 per barrel.

January futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) rose by $0.36 (0.5%) to $71.79 per barrel by this time. On Friday, contracts fell by $0.15 (0.2%) to $71.43 per barrel.

Over the past week, Brent rose by 0.9% and WTI by 0.3%. Both brands ended the week in the black for the first time since late October due to growing expectations of monetary policy easing by the Federal Reserve next year.

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Ukraine cuts titanium ore exports by 96.2%, revenue by 84.5%

In January-November this year, Ukraine reduced exports of titanium ores and concentrate in physical terms by 96.2% year-on-year to 11.063 thousand tons.

According to statistics released by the State Customs Service, exports of titanium ores and concentrate decreased by 84.5% to $18.474 million in monetary terms.

The main exports were to Turkey (38.05% of supplies in monetary terms), Japan (17.38%) and India (6.44%).

Ukraine imported 1 ton of such ore from the Netherlands for $2 thousand in the period under review.

As reported, in 2022, Ukraine reduced exports of titanium ore and concentrate in physical terms by 41.8% compared to the previous year to 322.143 thousand tons, and in monetary terms by 19.6% to $130.144 million. At the same time, the main exports were made to the Czech Republic (47.91% of supplies in monetary terms), the United States (11.94%) and Romania (9.75%).

In 2022, Ukraine imported 196 tons of similar products from Senegal (70.41%) and Turkey (29.59%) for $115 thousand.

In Ukraine, titanium ores are currently mined mainly by the United Mining and Chemical Company (UMCC), which manages Vilnohirsk Mining and Metallurgical Plant (VGMK, Dnipro region) and Irshansk Mining and Metallurgical Plant (Irshansk, Dnipro region). ) and Irshansk Mining and Processing Plant (IGOK, Zhytomyr region), as well as Mezhirichinsky GOK and Valky Ilmenite (both based in Irshansk, Zhytomyr region). In addition, Velta (Dnipro) has built a mining and processing plant at Birzulivske deposit with a capacity of 240 thousand tons of ilmenite concentrate per year.

In addition, Velta, a Dnipro-based industrial and commercial company, has built a mining and processing plant at the Birzulivske deposit with an annual capacity of 240 thousand tons of ilmenite concentrate.

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Ukraine will initiate process of assessing Ukrainian legislation for compliance with EU law in coming days

In the coming days, Ukraine will officially initiate the process of assessing Ukrainian legislation for compliance with EU law, Ukrainian President Volodymyr Zelenskyy said in a video address on Sunday.
“We are preparing to work on a negotiation framework for Ukraine. We expect it in the spring. The negotiation process will not be easy, but the main thing is that historically we have determined that Ukraine will always be part of our common European home,” he said.
Zelensky thanked “everyone who helps to bring the necessary European decisions closer. To everyone who has joined, to politicians, civic leaders, and the people of different countries who equally believe in us, in Ukraine and in Europe.”