Business news from Ukraine

Business news from Ukraine

Ukrainian enterprises in January-June 2023 doubled copper imports

Ukrainian enterprises in January-June this year increased imports of copper and copper products in value terms by 97.1% compared to the same period last year – up to $56.288 million.
According to customs statistics released by the State Customs Service of Ukraine, exports of copper and copper products for the period decreased by 26.3% to $39.433 million.
In June, $8.672m worth of copper was imported and $5.732m worth of copper was exported.
As reported, Ukrainian companies in 2022 reduced imports of copper and copper products in value terms by 64.3% year-on-year to $65.370 million, while their exports decreased by 56.3% to $90.245 million.

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Biden to meet with Zelensky in Vilnius

US Presidential National Security Advisor Jake Sullivan has said that US President Joe Biden will meet Ukrainian President Volodymyr Zelensky on Wednesday at the NATO summit in Vilnius.
“The President (Biden-IF-U) will have an opportunity to meet with President Zelensky tomorrow and discuss how the United States her partners are prepared in the long term to help Ukraine defend itself now and beyond,” Sullivan said at a briefing on Tuesday.

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22 European and seven Ukrainian telecom operators have extended affordable roaming for Ukrainians for year

European (22) and seven Ukrainian telecom operators have agreed to extend for another 12 months the agreement on mutual reduction of roaming tariffs for Ukrainian citizens, according to the website of the European Commission (EC).
“Affordable calls allow those seeking asylum in Europe to contact family and friends in Ukraine, and vice versa,” the EC said in a statement.
In turn, BEREC (the European Union’s telecommunications market regulator) noted the effectiveness of the agreement, first signed in April 2022, which allowed operators to provide accessible calls across the border.
BEREC added that European Economic Area (EEA) operators that are part of the agreement have significantly lower tariffs than operators that have not signed it, and urged the latter to join the agreement.
The EC recalled that in parallel, the Commission is preparing for Ukraine’s integration into the European Union (EU) roaming zone, and in April 2023, the EU-Ukraine Association Committee adopted the EC’s proposal for Ukraine to join the EU roaming rules.
“The next step for Ukraine is to fully adapt its legislation to EU law, and then the Council of the European Union will make the final decision,” the Commission said.
As reported, initially such an agreement was concluded on April 8, 2022 was for 9 months, and in February this year extended for another 6 months. In February, in addition to seven Ukrainian operators (Kyivstar, Vodafone Ukraine, lifecell, Ukrtelecom, Data Group, Vega Telecom Group and 3Mob), 20 European operators joined it.
It was pointed out that in the second half of 2022, the number of Ukrainian roaming subscribers ranged between 3.9 and 4.4 million, compared to 2 million at the beginning of the year and 5 million at peak in March 2022.
It was also pointed out that Ukraine could join the EU Roam like at home (RLAH) free roaming zone in 2024 if all necessary legislative changes are implemented in less than 12 months.

Last week was hottest week in recorded history

Record high temperatures were recorded globally last week, the World Meteorological Organization (WMO) said on Monday.

“According to preliminary data, the world recorded the hottest week on record. It followed the hottest June on record with unprecedented sea surface temperatures and a record small area of Antarctic sea ice,” the WMO said in a release on its website.

According to preliminary data, the average global temperature on July 7 was 17.24 degrees Celsius. This is 0.3 degrees Celsius higher than the previous record set on August 16, 2016, that year El Niño (a natural phenomenon strongly affecting the climate in a number of world regions – IF) was particularly active. The reanalysis data has not yet been confirmed.

According to Christopher Hewitt, director of WMO’s Climate Information Division, El Niño is expected to “further fuel heatwaves both on land and in the oceans and lead to more extreme temperatures and marine heatwaves.”

“We can expect to see more temperature records as El Niño develops, with the impact of this phenomenon continuing through 2024,” he said, calling such a scenario “troubling news for the planet.”

It emphasizes that record high temperatures on land and in the ocean can have “potentially devastating impacts on ecosystems and the environment.” The WMO notes that such phenomena are a consequence of climate change caused by human activity.

AMCU has authorized Zhytomyr Furniture Combine to buy Kiev’s Hermitage Hotel

The Antimonopoly Committee of Ukraine (AMCU) has allowed businessman Vadym Hryhoriev’s Zhytomyr Furniture Plant to buy real estate in Kiev, which was sold by the State Property Fund (SPF).
The corresponding decision of the AMCU approved July 6, reported on the website of the agency.
Earlier, Zhytomyr Furniture Works won the FGI auction on privatization of the historic building of the former Hermitage Hotel in Kiev on May 25. As reported by the FGI in June, the investor paid UAH 373 million to the state budget for the acquired asset.
The winner of the auction is obliged to apply to the relevant cultural heritage authority and conclude a protection agreement within a month after the registration of ownership of the privatization object.
Experts interviewed by Interfax-Ukraine estimated the necessary initial investments in the restoration of the buildings of the Hermitage Hotel at EUR8-10 mln.
The buildings were erected in 1902-1904 according to the project of Kiev architect Andrei Ferdinand Krauss – the author of many buildings constructed in the capital at that time. The house was one of the best hotels in the city “Hermitage”. The owner of the house was a millionaire and brick manufacturer Jacob Bernard. The end wall in the 1960s was decorated with a mosaic panel “Ukrainian Song” by Stepan Kirichenko.
These buildings have a protected status. In 1998 they were included in the list of historical and cultural monuments of local importance by the order of Kyiv City State Administration.
According to Opendatabot data, Zhytomyr Furniture Factory PJSC (ZhMK JSC), registered in 2003, authorized capital is UAH 4.9 mln. The ultimate beneficiary is Vadym Grigoriev.
At the end of 2021, the FGVFL sold the main office of VTB Bank, located at the intersection of Pushkinskaya Street and T. Shevchenko Boulevard in the center of Kiev, to Diprobudmashina PJSC of businessman Vadym Grigoriev for UAH 294.3 million at the auction “Prozorro.Sales”.
Previously, Grigoriev has already acquired part of VTB Bank’s assets: business center “Incom” for UAH 390 million and office center (6, Vatslav Havel Blvd., Kiev) for UAH 351 million, as well as Kiev business center “Renaissance” from Alfa Bank.
Grigoriev is also the owner of Merx Group after buying out Valeriy Khoroshkovskyy’s stake in 2004.

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Ukraine increased pig iron exports in first half of year, main importer – Poland

Ukraine in January-June this year increased exports of pig iron in physical terms by 26.1% compared to the same period last year – up to 799.692 thousand tons. According to statistics released by the State Customs Service (SCS) on Monday, during the period, pig iron exports in monetary terms amounted to $309.146 million (down 7.9%).
At the same time, exports were mainly to Poland (66.02% of shipments in monetary terms), Spain (15.82%) and the Czech Republic (8.13%).
For six months of 2023 Ukraine imported 37 tons of pig iron for $52 thousand from Germany (61.54%) and Brazil (38.46%), with no imports of pig iron in June.
As reported, Ukraine in 2022 reduced exports of pig iron in physical terms by 59% year-on-year to 1 million 325.275 thousand tons, in monetary terms by 61.1% to $638.774 million.
In 2022, Ukraine imported 40 tons of pig iron worth $23 thousand, while in 2021 – 185 tons of pig iron worth $226 thousand.
Exports were mainly to the USA (38.47% of shipments in monetary terms), Poland (32.91%) and Turkey (8.12%), imports – from Germany (100%).

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