Business news from Ukraine

ZELENSKY’S INAUGURATION SCHEDULES FOR MAY 20

An official gathering of Members of Parliament of Ukraine for a swearing-in ceremony of newly elected President of Ukraine Volodymyr Zelensky will begin at 10:00 Kyiv time on Monday, May 20; the venue is the parliament’s session hall.
Relevant draft resolution No. 10270-2 was backed by 315 MPs at a plenary session on Thursday, May 16, according to an Interfax-Ukraine correspondent.

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ADIDAS-UKRAINE TO OPEN STORES AT RIVER MALL TRADE CENTER IN DARNYTSKY DISTRICT IN KYIV

Adidas-Ukraine has rented 600 square meters of space for two stores in the River Mall shopping and entertainment center being under construction in Darnytsky district in Kyiv.
The press service of the River Mall trade and entertainment center told the Interfax-Ukraine news agency the Adidas shop will be almost 412 square meters, the Reebok store will occupy 186 square meters.
Both stores will open in new concepts for Ukraine: the design of the Adidas store will be in accordance with the concept of Stadium, and Reebok in the FitHib 2.0. concept that is new for Europe.
The facilities will be located on the second floor of the River Mall shopping center in the area of sporting goods and panoramic elevators.
“The range of goods in the stores will include modern sportswear for professional sports and outdoor activities, a total of more than 300 items,” the company said.
Adidas-Ukraine was founded in 1996. It is engaged in the sale of goods for sports.
The owner of the company is Adidas AG (Germany).
The opening of the River Mall trade enter is scheduled for May 2019. The anchor tenants will be Inditex Group stores, a Silpo supermarket chain, a Planeta Kino cinema with IMAX, and a Papashon entertainment center. The specifics of the project will be a food court and an event area with an open terrace and a view of the Dnipro River.

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MOLOKIYA DAIRY PRODUCER SEES UAH 42.9 MLN NET PROFIT

PrJSC Ternopil Dairy Plant (the Molokiya brand) in 2018 received UAH 42.9 million of net profit, which almost corresponds to the result for 2017.
According to the company’s annual report, the net income for 2018 amounted to UAH 1.8 billion (18% up), gross profit to UAH 416.4 million (41% more). Current liabilities of the company rose to UAH 160.55 million (32% more), long-term liabilities to UAH 175.9 million (7% more).
According to the report, in 2018 the company produced 56,000 tonnes of dairy goods, including 25,400 tonnes of milk, 11,100 tonnes of kefir, 6,600 tonnes of sour cream, 5,300 tonnes of yogurt and 3,100 tonnes of butter, as well as 2,000 tonnes of cheese and casein.
The company last year invested UAH 25.8 million in non-current assets, of which UAH 23 million is investment in equipment.
According to the company’s website, the owner of the controlling stake in the plant is businessman Vitaliy Kovalchuk, who directly and through affiliates owns 51.2%.
PrJSC Ternopil Dairy Plant was founded in 2000. It produces goods under the brand Molokiya, exports butter to Saudi Arabia, Morocco, Georgia, Turkey, and Kuwait.

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UKRAINE BANS IMPORTS OF RUSSIAN CEMENT, PLYWOOD

The Ukrainian government has broadened its list of banned Russian commodities to include Portland, alumina, blast furnace, sulfate resistant, and similar types of neat cement, both dyed and non-dyed, ready-to-use or clinker, as well as plywood, veneered boards, and similar plywood materials.
The decision was made at a government meeting on Wednesday.
“It is prohibited to import into Ukraine such groups of Russian commodities as industrial goods, mineral fertilizers, agricultural products, and transportation vehicles, including cement and plywood,” the Ukrainian First Deputy Prime Minister and Economic Development and Trade Minister, Stepan Kubiv, said presenting the resolution.
According to the Ministry of Economic Development and Trade, Ukraine imported almost $17 million worth of cement products from Russia in 2018, while plywood imports amounted to $19.7 million over that period.

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