Business news from Ukraine

Business news from Ukraine

NovaPay increased volume of transfers by 31% in 2024

In 2024, NovaPay international financial service (TM NovaPay) completed 418 million transfers, which is 18% more than in 2023.

According to the press service of NovaPay on Tuesday, the total volume of transfers through the system in 2024 reached UAH 308.5 billion, which is 31% more than in 2023.

In addition, charitable foundations made 1.5 thousand transfers through NovaPay for UAH 32.5 million.

“We are proud that even in today’s challenges we can grow steadily, support the economy and set new records. This is the result of well-coordinated teamwork and the trust of our customers and partners. We continue to innovate to provide the best financial services,” Andriy Kryvoshapko, CEO of NovaPay, was quoted as saying by the company’s press service.

In 2024, NovaPay set a record by completing 2.57 million transactions in one day. The maximum processing speed reached 65 transactions per second.

In addition, in 2024, NovaPay transferred about UAH 1.5 billion to the country’s budget, 23% more than in 2023.

NovaPay has invested UAH 5.9 million in Ukraine’s victory, which is another important step towards a common goal, the service’s press service reports.

“NovaPay (TM NovaPay) is an international financial service that is part of the NOVA group of companies and has been providing online and offline payment services in more than 3,600 Nova Poshta branches for over 12 years. The service was the first non-bank financial institution in Ukraine to receive an extended license from the NBU, which allowed it to open accounts and issue cards.

According to the National Bank of Ukraine, as of December 1, 2024, NovaPay LLC issued 449.11 thousand payment cards, of which 123.34 thousand were active (at least one transaction in November). With a share of 0.22%, the company ranked 17th in the market, but still lags far behind the leaders PrivatBank (29.28 million) and mono (9.86 million active cards). At the same time, at the beginning of 2024, NovaPay issued only 13 thousand cards.

In addition, the company had 10.71 thousand installed payment terminals at the beginning of December, compared to 3.43 thousand at the beginning of the year, and installed the first 10 self-service devices. In terms of the number of payment terminals, NovaPay with a 2.1% share overtook Ukrposhta with its 1.4% share and ranked fifth in the market, where the undisputed leader is PrivatBank with a 60.7% share.

Number of notarial acts in Ukraine increased by 20% in 2024

In 2024, notaries in Ukraine performed 12.6 million notarial acts, which is 20% more than in 2023, according to the website of the Ministry of Justice.

According to its data, 9.7 million people applied for notary services last year, which is 1.7 million or 21.3% more than in 2023.

According to the Ministry of Justice, Ukrainians most often sought certification of the authenticity of copies of documents (5.8 million), the authenticity of signatures on documents (2.9 million), and the certification of powers of attorney (1.4 million).

According to the Ministry, the notary market is significantly dominated by private notaries – there are 5.5 thousand of them in Ukraine compared to 699 state notaries, and they also perform the majority (91%) of all notarial acts in the country.

The Ministry of Justice noted that state notaries are mainly engaged in inheritance registration, which is 40% of all their services: 680 public notaries issued 412 thousand certificates of inheritance over the year, while 5.2 thousand private notaries issued 638.8 thousand such certificates.

Private notaries, according to the report, dominate the real estate market, which showed significant growth in 2024. Last year, they formalized 383.8 thousand real estate alienation contracts (+25% compared to last year), while state notaries formalized 23 thousand (+14%). The situation is similar with the registration of land plots: private notaries registered 367.9 thousand contracts of alienation of land plots and shares (+22%), while public notaries registered 25.3 thousand (+14%).

“Zaporizhstal” increased rolled steel production by 9.7% in January

Zaporizhzhia-based Zaporizhstal Iron and Steel Works increased its rolled steel output by 9.7% year-on-year to 215 thousand tons from 196 thousand tons in January this year.

According to the company’s press release on Tuesday, steel production for the period amounted to 243 thousand tons (January-2023: 235.5 thousand tons), pig iron – 287.7 thousand tons (261 thousand tons).

In December, Zaporizhstal produced 284.7 thousand tons of iron, 245.5 thousand tons of steel, and shipped 234.1 thousand tons of rolled products.

As reported earlier, in 2024, Zaporizhstal increased its rolled steel output by 18.1% compared to 2023 – to 2 million 426.7 thousand tons from 2 million 54.7 thousand tons, steel by 17.2% to 2 million 890.8 thousand tons, and pig iron by 14.2% to 3 million 106.3 thousand tons.

“In 2023, Zaporizhstal increased its rolled products output by 57.2% compared to 2022, up to 2 million 54.7 thousand tons, steel by 65.4%, to 2 million 466.9 thousand tons, and pig iron by 35.3%, to 2 million 718.9 thousand tons.

“Zaporizhstal is one of the largest industrial enterprises in Ukraine, whose products are in great demand among consumers both in the domestic market and in many countries of the world.

“Zaporizhstal is in the process of integration into Metinvest Group, whose major shareholders are System Capital Management (71.24%) and Smart Holding Group (23.76%).

Metinvest Holding LLC is the management company of Metinvest Group.

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Ukraine increased sugar exports by 17%, opening new markets

In the first five months of the 2024-2025 marketing year (September 2024-January 2025), Ukraine exported more than 352 thousand tons of sugar to foreign markets, which is 17% more than in the same period of 2023-2024 MY, the press service of the National Association of Sugar Producers of Ukraine Ukrtsukor reported on Facebook.

The business association emphasized that the entire exported volume was directed to the world market, while in September 2023-January 2024, the share of exports to the world market was only 9.5%.

“The significant increase in the world market share in sugar exports is the result of successful efforts of Ukrainian sugar producers to find alternative markets due to restrictions imposed on Ukrainian sugar by the EU,” the industry association explained.

The main export destinations for Ukrainian sugar in September 2024-January 2025 were Turkey (19% of total exports), Libya, Somalia, Sri Lanka, and North Macedonia.

Ukrtsukr noted that since January 1, 2025, the possibility of exporting sugar from Ukraine to the EU countries has been restored. During the first 5 months of 2025, the domestic producers will be able to export 107.3 thousand tons of sugar to the EU.

As reported, in the production season of 2024, Ukrainian sugar producers produced 1.8 million tons of sugar. The volume of the domestic market in Ukraine is currently estimated at 900 thousand tons per year.

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“Astarta” exported 1.2 mln tons of products to 53 countries in 2024

Astarta Agro-Industrial Holding, the largest sugar producer in Ukraine, exported its products to 53 countries in 2024, supplying more than 1.2 million tons of products to global markets, which is 18% more than in 2023, the company’s press service reported on Facebook.

“Despite all the challenges of 2024, our exports have become a vivid example of the resilience and professionalism of the team. We have not only maintained our positions in international markets but also expanded the geography of supplies, opening up new prospects for growth,” said Vyacheslav Chuk, Astarta’s Chief Commercial and Strategic Marketing Officer.

According to the agricultural holding, the main consumers of Astarta’s corn in 2024 were Spain, Egypt, Italy and Ireland. Soybean oil and meal were supplied mainly to the markets of Eastern Europe, as well as to Saudi Arabia and Malaysia. Sugar was mainly consumed in Europe, North Africa, the Middle East, and CEFTA countries.

The company plans to further expand its sales markets, optimize export logistics and increase export volumes, the agricultural holding summarized.

“Astarta is a vertically integrated agro-industrial holding company operating in eight regions of Ukraine. It includes six sugar factories, agricultural enterprises with a land bank of 220 thousand hectares and dairy farms with 22 thousand cattle, an oil extraction plant in Globyno (Poltava region), seven elevators and a biogas complex.

In 2023, the agricultural holding reduced its net profit by 5.0% to EUR 61.9 million, and its EBITDA decreased by 6.1% to EUR 145.77 million, while revenue increased by 21.3% to EUR 618.93 million.

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What will happen to maternity tourism in US

Having a baby in the United States has always attracted future parents from all over the world. In addition to the high level of medical services, this gives the child a unique opportunity to automatically become a US citizen, regardless of the status of their parents. But will the rules for granting citizenship change due to Donald Trump’s new executive order?

Donald Trump’s executive order to abolish birthright citizenship has sparked heated debate not only in America but around the world. This practice, known as jus soli (“right to the land”), has become the subject of litigation and political confrontation. How will this affect maternity tourism in the United States and the future of those who plan to give birth in America?

Citizenship issuance: what will change?

According to the decree, US government agencies must stop issuing citizenship to children born in the United States to parents who do not have legal status. However, this decree is unlikely to become law in the coming years. The granting of citizenship remains strictly regulated by the 14th Amendment to the US Constitution, which guarantees the right to citizenship to every person born in the country.

Judicial challenge to the decree

The order has been subject to widespread legal challenges. The attorneys general of 22 states have filed lawsuits challenging the unconstitutionality of the decision. And the Federal Court in Seattle has already blocked the order by imposing a temporary moratorium. The lawsuits argue that citizenship is a right guaranteed by the constitution, and even the president cannot cancel it with a single decree.

Maternity tourism: what will change for parents?

Even if the moratorium is in effect or the decree is blocked by the courts, the issuance of citizenship to children continues as usual. For many parents, the right to citizenship is the main reason for choosing to give birth in the United States. A US citizen child receives privileges in education, employment, and social security, and also opens up the possibility for parents to obtain the right to reside in the US in the future through family reunification.

Giving birth in the United States is attractive not only because of citizenship. The high level of medicine, modern equipment, and qualified doctors ensure comfort and safety for mother and child. Many people also appreciate the tropical climate and relaxed atmosphere, which contributes to easy recovery after childbirth.

Why choose AIST services?

  • Planning a birth abroad requires professional support. AIST offers a wide range of services, including a selection of doctors, clinics, accommodation and logistics. Highly qualified specialists who work with AIST provide an individual approach to each family, taking into account all wishes and budget.

Service packages include:

– Assistance in choosing a clinic and a doctor.

– Arranging accommodation and transfers.

– Legal support for the preparation of documents for the child.

– Childbirth and medical support during pregnancy.

The company’s clients note the high level of service and care. For example, one of the mothers notes: “The whole process, from the organization to the delivery itself, was as comfortable as possible. We felt safe, and the doctors are true professionals. Many thanks to the AIST team!”

Trump’s executive order and the future of maternity tourism

Despite attempts to change the citizenship policy, the likelihood of Trump’s decree being implemented is low due to strong opposition from the judiciary and the public. Court proceedings will drag on for years, and children born in the United States will continue to receive citizenship under the 14th Amendment.

Thus, there is no cause for concern for those planning to give birth in the United States. American citizenship remains a profitable investment in the child’s future, and the services of professionals such as AIST will help make this process as comfortable as possible

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