Quotes of interbank currency market of Ukraine (UAH for €1, in 01.03.2024-31.03.2024)
Source: Open4Business.com.ua and experts.news
Quotes of interbank currency market of Ukraine (UAH for $1, in 01.03.2024-31.03.2024)
Source: Open4Business.com.ua and experts.news
The Spanish government on Tuesday called for the recognition of the state of Palestine within the 1967 borders, according to the Spanish TV channel RTVE.
“Spain will join more than 140 countries that have already recognized Palestine as a state. This is a historic decision whose sole purpose is to contribute to peace between Israelis and Palestinians,” Spanish Prime Minister Pedro Sanchez said at a press conference following the government meeting. The press conference was broadcast by the Spanish TV channel RTVE.
He noted that “it is not directed against anyone, especially Israel”. According to Sanchez, Madrid recognizes Palestine within the 1967 borders. He specified that he hopes for the creation of a Palestine that includes the West Bank and Gaza Strip with its capital in East Jerusalem, governed by the Palestinian National Authority.
Spain recognized Palestine, along with Ireland and Norway, which sparked a serious political crisis in relations with Israel.
After it became known about the decision of these three countries to recognize the independence of the Palestinian state, the Israeli Foreign Ministry announced the recall of ambassadors to Spain, Ireland and Norway for consultations and threatened these countries with “serious consequences.” The ambassadors of these countries were summoned to the Israeli Foreign Ministry.
The Cabinet of Ministers of Ukraine has banned all types of advertising of gambling business, follows from the government decree № 583.
Thus, amendments were made to paragraph 1 of the Cabinet of Ministers Resolution No. 566 of May 17, 2024 “Some issues of counteraction to the negative consequences of the functioning of gambling on the Internet”.
“Subparagraph one after the words ‘order of restriction’ is supplemented with the words ‘of all forms’, and after the words ‘by restriction’ – with the words ‘namely a ban’, – stated in the resolution.
According to the document, the ban will be in force until the entry into force of the law on combating game addiction, which is now under consideration by the Verkhovna Rada.
ADVERTISING, CABINET OF MINISTERS OF UKRAINE, GAMBLING BUSINESS
Ukraine increased its exports of granulated slag to the EU in 2023 to 367 thousand tons, up 53% compared to 2022, of which 324.5 thousand tons (+47.5% compared to 2022) were supplied by Recycling Solutions, the company’s press service reports.
“We have managed to attract new customers and expand our sales market, despite the fact that the European construction sector is going through a crisis. Europe lacks its own similar raw materials, and Ukraine can meet the demand of European manufacturers. For us, this is an opportunity to support the national economy and ensure the inflow of foreign currency into the country,” Vadym Khoroshko, Director of the Construction Admixtures Department, explained in a press release.
According to the published data, the total volume of granulated slag imports to the EU countries in 2023 amounted to 3.35 million tons. The leading suppliers are Japan (1.2 million tons), China (0.7 million tons), Turkey (0.7 million tons) and Ukraine. The main consumers of this product are cement plants, which are currently operating unstably due to lower demand. The European construction market and road construction have slowed down significantly. On the other hand, the launch of the Carbon Based Import Adjustment Mechanism (CBAM) in October 2023 is having a positive impact on the waste and by-products market. In the spring, a new cement production season begins, in which Recycling Solutions expects demand to remain at the level of 2023, the press release said.
It is reported that in 2023, 44% of construction admixtures sold by Recycling Solutions were exported. The largest volumes were purchased by customers from Poland and Slovakia. In addition to slag, last fall the company was the first Ukrainian producer to export 1380 tons of dry ash.
The company also notes an increase in sales in the domestic market, explaining that demand for construction admixtures is driven by reconstruction projects and the emergence of small tenders for road resurfacing. In particular, last year Recycling Solutions shipped 407.2 thousand tons of granulated slag to Ukrainian customers, which is 69% more than last year. The company also sold 363.3 thousand tons of dump slag used for road construction and emergency repairs, and shipped 282 thousand tons of other ash and slag materials, 30% more than in 2022.
In addition, last year Recycling Solutions launched an aluminosilicate microsphere production plant in Burshtyn, Ivano-Frankivsk region. The company operates on equipment evacuated in 2022 from Druzhkivka (Donetsk region), which was located in close proximity to the front line. Investments in the project amounted to $313 thousand. The launch of production made it possible to ship 521 tons of microspheres in 2023.
Recycling Solutions was founded in 2012 and is part of Rinat Akhmetov’s umgi investment company. It provides strategic by-product and waste management services. Currently, it is an integrated operator of secondary resources management for the coal, metallurgical, heat and power, and agricultural sectors of Ukraine. The company’s activities include processing and sale of ash and slag materials, metallurgical slag, rare and industrial gases, ammonium sulphate, livestock by-products, and production of heat and electricity from coal mine methane.
umgi founded SCM in 2006 to manage assets in the raw materials sector. Later, it expanded its range of activities and changed its business model from management to investment. The total market value of its portfolio companies exceeds $500 million.
Advertising
JSC OTP BANK has introduced a new service – sale of domestic government bonds from its own portfolio in the OTP Bank UA application. From now on, customers have the opportunity to purchase domestic government bonds at any convenient time, regardless of the date of the Ministry of Finance of Ukraine’s auctions.
“The new functionality opens up even more opportunities for investing in government securities, as well as allows you to choose the optimal bond rate and maturity. The service is already available online to all individuals who have opened a securities account in any branch of the Bank,” said Valeria Ovcharuk, product owner of OTP Bank.
According to her, the process of buying government bonds is convenient and fast. “The OTP Bank UA app offers an easy interface for purchasing government bonds. Just a few clicks and the securities are in your bond portfolio. It is a reliable and profitable investment in the future, as the repayment of domestic government bonds is 100% guaranteed by the state,” emphasized Ovcharuk.
Investing in domestic government bonds is not only an opportunity to support the financial stability of Ukraine in times of war, but also a good opportunity to diversify your savings and receive additional income in both hryvnia and foreign currency.
Last fall, OTP BANK opened the opportunity to buy domestic government bonds directly at auctions of the Ministry of Finance through the OTP Bank UA application. During 2023, the Bank’s customers purchased domestic government bonds for a total amount of UAH 6.3 billion in equivalent, which is 153% more than in 2022.
As a reminder, in 2023, OTP Bank was ranked fourth among Ukrainian banks in the overall rating of primary dealers, according to the Ministry of Finance of Ukraine.
The status of a primary dealer provides the exclusive right to participate in the placement of domestic government bonds conducted by the Ministry of Finance, both on its own behalf and for clients of individuals and legal entities, as well as banks and financial companies that do not have such a status.
To learn more about investing in domestic government bonds through the OTP Bank UA app, please follow the link.
