Business news from Ukraine

Business news from Ukraine

Odesa-based Farmatsiya plans to sell 9 non-residential premises to Winster

Pharmacy Chain Pharmacy PrJSC (Odesa) plans to sell nine non-residential premises with a total value of UAH 31.879 million to Vinster LLC (Odesa), a retail real estate company.
According to the pharmacy chain’s disclosure in the National Securities and Stock Market Commission (NSSMC), its shareholders will consider the deal at a meeting on April 26.
The total area of the premises to be sold exceeds 4690 square meters.
As reported, Pharmacy Chain (Odesa) reduced its net loss by 10 times in 2023 to UAH 1.074 million.
The company is engaged in retail trade in pharmaceuticals. The ultimate beneficiary of the chain is Yuriy Rodin.
Vinster LLC is engaged in the leasing of retail real estate. The ultimate beneficiary of the company is Leonid Shtein.

National Bank additionally revoked licenses of number of financial companies

The National Bank of Ukraine has revoked the licenses of Ardian Leasing Company LLC and FC Aktiv+ LLC on the basis of submitted applications, the regulator’s website has reported.

In addition, these companies are excluded from the State Register of Financial Institutions due to the revocation of licenses.

Another two non-banking financial institutions (NFIs) on the basis of their own applications, the regulator has agreed to change the scope of licenses for the activities of financial companies: LLC FC “Percent” – to exclude from the license such services as financial leasing and provision of guarantees, LLC “Siroko Finance” – to exclude the service of financial leasing from the license.

At the same time, the NBU notes that after the change in the scope of licenses for the activities of the financial company LLC “FC “Percent”, LLC “Siroko Finance” have the right to provide funds and bank metals on credit, as well as factoring service.

The corresponding decisions of the NBU Committee on supervision and regulation of non-banking financial services markets adopted at a meeting on April 5, 2024.

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Ukraine increases rolled steel output by 35.5%

Ukrainian metallurgical enterprises in January-March this year increased production of total rolled products by 35.5% year-on-year to 1.389 million tons from 1.025 million tons, according to preliminary data.
According to Ukrmetallurgprom on Tuesday, steel production increased by 36.6% to 1.687 million tons from 1.235 million tons in January-March 2023.
Pig iron production increased by 32.1% to 1.589 million tons from 1.203 million tons.
As reported, in January 2014, the company increased production of total rolled products by 75.9% year-on-year to 453 thousand tons from 257 thousand tons, steel by 91.6% to 544 thousand tons from 284 thousand tons, and pig iron by 44.5% to 555 thousand tons from 384 thousand tons.
In 2M2024, rolled products output increased by 52.5% y-o-y to 900 thousand tons from 590 thousand tons, steel output by 52% to 1.076 million tons from 708 thousand tons, and pig iron output by 42.5% to 1.050 million tons from 737 thousand tons.
In 2023, Ukraine increased production of total rolled products by 0.4% compared to 2022 to 5.372 million tons, but reduced steel production by 0.6% to 6.228 million tons and pig iron by 6.1% to 6.003 million tons.
In 2022, Ukraine reduced production of total rolled products by 72% compared to 2021, to 5.350 million tons, steel by 70.7% to 6.263 million tons, and pig iron by 69.8% to 6.391 million tons.
In 2021, the company produced 21.165 million tons of pig iron (103.6% compared to 2020), 21.366 million tons of steel (103.6%), and 19.079 million tons of rolled products (103.5%).

Sunak and Macron discussed increasing supplies of ammunition and air defense equipment for Ukrainian Armed Forces

This afternoon, April 8, British Prime Minister Rishi Sunak had a telephone conversation with French President Emmanuel Macron, the British government’s website reports.
“On Ukraine, the Prime Minister and the President agreed on the importance of intensifying efforts to prevent Russia from winning its aggressive war against Ukraine. They discussed priorities for the coming months, including increasing the supply of ammunition, drones and air defense systems for the Armed Forces of Ukraine,” the statement said.
It is noted that the leaders are looking forward to the upcoming meeting of the European Political Community to be held in the UK and pledged to work together to hold a successful summit that will address a number of common European priorities, including the defense of Ukraine, the development of cooperation in the field of artificial intelligence and joint efforts to combat illegal migration and organized crime.

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Poland has banned several tons of bagels from Ukraine

The Polish Agricultural and Food Products Quality Inspectorate (IJHARS) in Rzeszów has issued a decision to ban three batches of bagels with a total weight of 5.34 thousand tons imported from Ukraine from circulation on the Polish market.

According to the inspectorate’s post on Monday on the social network X, the decision was made due to the low fat content and high sugar content of the bagels.

The decision was immediately implemented.

As reported, on April 5, IJHARS in Lublin withdrew three batches of ice cream with a total weight of 8.48 tons imported from Ukraine from the Polish market due to defrosting.

Earlier, the Polish Trade Inspectorate announced the largest fine in its history of 1.5 million zlotys (about $380 thousand) imposed on an importing company for importing 11.5 thousand tons of technical rapeseed and feed wheat from Ukraine as counterfeit goods for further use as food. In addition, a decision was made to ban the import of 57.66 tons of tomato paste from Ukraine due to the presence of mold.

In March, IJHARS Chief Inspector Przemysław Rzodkiewicz said that over the past year, 1.4% of the batches of products from Ukraine inspected by the commission at the border were rejected.

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Spain plans to cancel visa program in exchange for real estate investments

The Spanish government intends to cancel the program that provides foreigners with “golden visas” in exchange for real estate investments, the Financial Times reports, citing a statement by Spanish Prime Minister Pedro Sanchez.

Currently, citizens of non-EU countries can obtain a Spanish residence permit for a period of three years by investing at least EUR 500 thousand in real estate in the country.

The abolition of the program will improve the situation with the availability of housing in Spain, Sanchez said.

“Currently, 94 out of 100 of these visas are issued for real estate investments in large cities that are already facing a very difficult market. Those who already live there, work and pay taxes, can hardly find decent housing,” the prime minister said.

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