Business news from Ukraine

LIFTING MORATORIUM ON FARMLAND SALE IS SIGNIFICANT IMPETUS TO DEVELOPMENT OF ECONOMY – UKRAINIAN PM

The lifting of the moratorium on the sale of agricultural land is a significant impetus to the development of the economy, farming and the agro-industrial complex.
“The lifting of the moratorium on the sale of agricultural land is a significant impetus for the development of the economy, farming, the agricultural complex in Ukraine,” Prime Minister Denys Shmyhal said on Telegram.
As reported, on the night of March 31, the Verkhovna Rada at an extraordinary meeting adopted a law on opening the land market from July 1, 2021 with the restriction of its work in the first three years only to land plots owned by individuals with a maximum ownership of 100 hectares per capita.

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PHARMACY SALES IN UKRAINE IN JAN-OCT AMOUNTES UAH 66.663 BLN

Pharmacy sales in Ukraine in January-October 2019 in monetary terms decreased by 3.37% compared to the same period in 2018 and amounted to UAH 66.663 billion. Business Credit told Interfax-Ukraine over the period pharmacy sales in natural terms decreased by 9%, to 1.139 billion packages.
According to the company, retail sales of medicines in January-October in monetary terms fell by 4.79%, to UAH 53.987 billion, in natural terms by 16.8%, to 693.988 million packages.
The average weighted price of all categories of pharmacy retail products in January-October amounted to UAH 58, medicines some UAH 77.79.

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2/3 UKRAINIANS AGAINST SALE OF LAND

As many as 29% of Ukrainians support the passage of a bill on the land market by the Verkhovna Rada in the first reading, while 64% disapprove of this, the Kyiv International Institute of Sociology (KIIS) found after conducting a public opinion poll.
The poll showed that 11.4% of respondents fully support the Rada’s passage on November 13 of legislation allowing the sale of land and another 17.3% are inclined to support it, while 15.4% are inclined to disapprove of this decision, 50% are completely opposed, and 5.9% were undecided or refused to answer.
If a referendum on the sale of agricultural land was held in Ukraine next Sunday, 22% of Ukrainians would support it, 59% would vote against, 14% would not cast their ballots, and 5% said they were still undecided.
The KIIS polled 1,500 respondents aged 18 and older using computer-assisted telephone interviews (CATI) on November 22-25.

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MICROSOFT EXPECTS GROWTH IN INCOME FROM SALE OF CLOUD TECHNOLOGIES BY 50% IN UKRAINE

The largest global software maker Microsoft Corp. expects growth in income from sale of cloud technologies in Ukraine by 50% every year in the coming two years, Director of Microsoft Ukraine LLC Jan Peter De Jong said during the press breakfast in Kyiv on Thursday.
At the same time, he said that as part of the global digital transformation in the company at the global level, the development and implementation of customer access to cloud services are becoming a priority in Ukraine.
De Jong said that this is about all the cloud services of Microsoft Office 365, Microsoft Azure and Microsoft Dynamics.
“Digital transformation allows rethinking the ways people, data and processes interact. A digital transformation strategy that focuses on these three main components will make your company more effective for customers and gain a competitive advantage in a digital-oriented world,” he said.
The world’s largest software maker Microsoft Corp. increased its net profit in the first quarter of FY2020 by 21%, including thanks to the cloud business.

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NET SALE OF CURRENCY BY NATIONAL BANK OF UKRAINE LAST WEEK TOTALS $157 MLN

The National Bank of Ukraine (NBU) in the period from September 30 through October 4, 2019 first since the start of August entered the market to support the hryvnia, selling $200 million – almost the same amount as for the entire period since the beginning of 2019.
According to a posting on the website of the central bank, all these interventions were made at the single exchange rate (using the matching tool).
At the same time, the National Bank last week managed to acquire $42.5 million, as a result of which the net sale of foreign currency amounted to $157.5 million.
In general, since the beginning of 2019, the NBU has bought $4.199 billion at the interbank currency market, sold $448.2 million, in particular, it bought $930 million in September, $316 million in August, $1.271 billion in July, and $322 million in June, and sold only $ 17 million early August.

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IN UKRAINE MANDATORY SALE OF FOREIGN CURRENCY FROM EXPORTS MAY BE CANCELLED

The National Bank of Ukraine (NBU) has stated the requirement for the mandatory sale of export earnings could be cancelled, governor of the central bank Yakiv Smolii has said.
“As market conditions develop, we think we’ll cancel this rule,” he said at a conference of the American Chamber of Commerce in Kyiv.
As reported, the National Bank of Ukraine in early February 2019 announced the decision to reduce the norm for the mandatory sale of export earnings from 50% to 30% from March 1.

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