Business news from Ukraine

Business news from Ukraine

Australia allocates $AU 20 mln for military aid package for Ukraine

The Australian government has allocated $AU 20 million for a military aid package for Ukraine, Australian Prime Minister Anthony Albanese said during his visit to Washington, Ambassador Extraordinary and Plenipotentiary of Ukraine to Australia Vasyl Miroshnychenko said on his Facebook page on Wednesday.

“20 million Australian dollars (USD 12.7 million – IF-U) will be used to purchase new products from the Australian military-industrial complex, including anti-submarine weapons (Droneshield), mine-clearing equipment (Minelab), mobile X-ray machines (Micro-X) and industrial 3D printers (SPEE3D),” he wrote.

The ambassador also announced that the Royal Australian Air Force E-7A Wedgetail reconnaissance aircraft has arrived at the Ramstein base and will begin its work in the airspace of Eastern Europe.

Vasyl Miroshnychenko thanked Prime Minister Anthony Albanese, Defense Minister Richard Marles and Minister of Defense Pat Conroy for their support of Ukraine.

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The bitcoin rate has risen above $35 thousand

The bitcoin rate rose above $35 thousand on Tuesday for the first time since May last year.
As of 18:15, it gained 9% and amounted to $34.362 thousand. During the session, the rate reached $35.142 thousand.
The rise in the value of bitcoin is driven by growing investor expectations that the United States will soon approve the creation of exchange-traded funds (ETFs) for direct investment in cryptocurrencies, Market Watch reports.
In the past, the US Securities and Exchange Commission (SEC) has repeatedly rejected applications from investment companies to launch such ETFs, arguing that there are high risks of market price manipulation. However, cryptocurrency industry experts believe that the situation will soon change.
On Monday, the U.S. Court of Appeals ruled that its August decision, which overturned the SEC’s earlier ban on the conversion of the Grayscale Investments cryptocurrency trust into a spot bitcoin ETF, should come into force.
Experts note that the emergence of such products on the market will facilitate the wider adoption of bitcoin.
If bitcoin ETFs are approved, we may see a “historic jump in the value of the cryptocurrency” and a market shift to a bullish trend, says Alex Adelman, CEO and co-founder of Lolli.
BlackRock Inc. and Fidelity Investments are among the companies ready to offer similar products.
This tool “will give institutional and retail investors new ways to grow their bitcoin investments within the current regulatory framework”, Adelman says.
The stock prices of cryptocurrency companies Coinbase Global Inc., MicroStrategy Inc., Riot Platforms Inc. and Marathon Digital Holdings Inc. are up 13%, 14.8%, 14.5% and 17.5%, respectively.

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Ukraine exported 41 thsd tonnes of new crop barley

Ukraine exported 41 thsd tonnes of barley of the new harvest due to the intensification of the work of Odesa ports, but the main demand is demonstrated by the domestic market. This was discussed on October 24 during the weekly briefing, according to the analytical cooperative “Start”, created within the framework of the All-Ukrainian Agrarian Council (AAC).

“Export demand for barley has intensified. In Odesa, the demand for barley with certification for deliveries to China at the price of about 118-120 USD/ton is recorded. These prices are announced for delivery to Odesa by November 10. As of November, 50 thsd tonnes of barley have already been sold for delivery to China. Therefore, we can expect further movement of the grain through Odesa ports. There will not be a big price increase, but the prices may rise by $5/ton,” the experts said.

According to their information, the Danube ports are not trading barley yet. Although the indicative price is 125-130 USD/ton, there is no real movement. Higher liquidity is recorded at the western borders (CPO) – 135-140 USD/ton on DAP terms, but the demand in this direction is low.

“The main demand is focused on the domestic market, with the main buyers of barley being the processing plants. So far, the purchase prices are at the level of 4500-4800 UAH/ton, no significant changes are expected in the coming weeks,” the UGA summarized.

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“Naftogaz” takes “Chernihivgaz” under its management

“Chernihivgaz” JSC has come under the management of “Naftogaz” Group, the company’s press service said on Tuesday.
“Chernihivgaz” became the 18th enterprise to come under state control.
The company delivers gas to almost 360,000 homes, regulates its distribution to budgetary and religious organizations, industrial facilities and municipal heating enterprises,
“Chernihivgaz” joined the “Naftogaz” Group as part of the transfer of gas distribution companies to state control. At present, personal accounts of customers, as well as tariffs for distribution services, remain unchanged”, the statement said.
As reported, at the end of May 2022, at the request of the State Bureau of Investigation (SBI), the court transferred the seized private corporate rights to 26 regional and city gas distribution system operators to the management of the ARMA.
In September 2022, “Naftogaz” of Ukraine registered Gas Distribution Networks of Ukraine LLC (“Gazomerezhi”), whose main activity is gas distribution through local pipelines.
By Resolution No. 1335 dated November 25, 2022, the Cabinet of Ministers transferred state-owned gas distribution networks to “Gazomerezhy” for operation.

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Ukrainian steelmakers increase steel production by 64.2% in September

In September this year, Ukrainian steelmakers increased steel production by 64.2% year-on-year to 558 thousand tons from 340 thousand tons.

At the same time, Ukraine took 21st place in the ranking of 63 countries – the world’s major producers of this product, compiled by the World Steel Association (Worldsteel).

According to Worldsteel, in September 2023, steel production increased compared to September 2022 in half of the top ten countries, except for China, Japan, Brazil and Iran.

The top ten steel producing countries in September are as follows: China (82.110 million tons, down 5.6% by September 2022), India (11.632 million tons, up 18.2%), Japan (7.020 million tons, down 1.7%), the United States (6.718 million tons, up 2.6%), and the Russian Federation (6.2 million tons, up 9.8%), South Korea (5.456 million tons, up 18.2%), Germany (2.902 million tons, up 2.1%), Turkey (2.890 million tons, up 8.4%), Brazil (2.630 million tons, down 5.6%) and Iran (2.397 million tons, down 12.7%).

Overall, in September this year, steel production decreased by 1.5% year-on-year to 149.316 million tons.

In the first nine months of 2023, the top ten steel-producing countries are as follows: China (795.070 million tons, up 1.7%), India (104.090 million tons, up 11.6%), Japan (65.387 million tons, down 3.6%), the United States (60.566 million tons, down 1.4%), and the Russian Federation (57.148 million tons, up 4.8%), South Korea (50.430 million tons, minus 0.4%), Germany (27.231 million tons, minus 3.6%), Turkey (24.489 million tons, minus 10.1%), Brazil (23.965 million tons, down 8%) and Iran (22.069 million tons, minus 0.6%).

In total, 63 countries produced 1 billion 406.376 million tons of steel in January-September, up 0.1% compared to the same period in 2022.

At the same time, Ukraine produced 4.590 million tons of steel in the first nine months of 2023, which is 16.9% lower than in January-September 2022. The country ranks 23rd in the first nine months of 2023.

As reported, in 2022, the top ten steel-producing countries looked like this: China (1.013 billion tons, down 2.1%), India (124.720 million tons, up 5.5%), Japan (89.235 million tons, -7.4%), the United States (80.715 million tons, -5.9%), and the Russian Federation (71.5 million tons, -7.2%), South Korea (65.865 million tons, -6.5%), Germany (36.849 million tons, -8.4%), Turkey (35.134 million tons, -12.9%), Brazil (33.972 million tons, -5.8%) and Iran (30.593 million tons, +8%).

In 2022, Ukraine ranked 23rd with the production of 6.263 million tons of steel (minus 70.7%).

In total, 64 countries produced 1 billion 831.467 million tons of steel in 2022, which is 4.3% less than in 2021.

FC Shakhtar presented new head coach

The management of FC Shakhtar presented the new head coach. Bosnian Marino Pusic became him, the club’s press service reports.

“The contract with the mentor is designed until the end of the season-2025/26”, – is indicated in the message.

Pušić was born August 18, 1971 in Mostar (Bosnia and Herzegovina). At the professional level played for Dutch “De Grafshap” (1989-1990, 1992-1993) and “Gow Ahead Eagles” (1990), Serbian “Crvena Zvezda” (1990-1991), Bosnian “Velež” (1991-1992), “Reden” (1993-1994), German “Cologne” (1994-1995), Belgian “Eupen” (1995-1996), Dutch “Babberich” (1996-2000) and “De Trefers” (2000-2001). After finishing his career as a soccer player he played for futsal teams.

He started his coaching path also in futsal, then worked as a mentor at Vitesse Academy (2010-2013), assistant head coach at NAC Breda (2013-2014), Inter (Azerbaijan, 2015), Twente (2015-2018), was head coach of Twente (2018-2019), assistant head coach at AZ Alkmaar (2019-2021) and Feyenoord (2021-2023).

As head coach he won the Eerste Divisie (2019), as assistant head coach he won the Dutch Championship (2023).

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