Friday, November 19

The leading agricultural producer in Ukraine, Myronivsky Hliboproduct (MHP) has reported profits of $377 mln in 2021.

MHP which produces chicken meat for local and external markets is the leader in poultry production in Ukraine. It recently presented the financial results of its activities for the nine months ended September 30, 2021 which showed a net income increase to $377 mln. This compared to a loss of $109 mln during the same period of 2020. The key factors driving profits were the increase in exports by 8%, and the rise in chicken prices by 22%. The production of chicken has increased by only 2%. The company is planning to pay dividends of $30 mln in December of 2021.

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As part of its plan to diversify its business, MHP has started to produce beef.

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Nord Stream 2 will be launched without certification might be possible.  According to reports in the German newspaper, Handelsblatt, the gas pipeline may start operating without certification. This scenario was played out with German projects NEL and EGL 401. However, in this case, Nord Stream 2 may be fined €1 mln, according to the estimates of the German Federal Network Agency (BNA). The penalty for putting the gas pipeline into operation in Germany was acceptable, given that the cost of the entire Nord Stream 2 project is €10 bln.

The Ukrainian President, Volodymyr Zelensky, has announced the establishment of a new state airline Ukrainian National Airlines (UNA) . The new carrier will start flights in 2022 from two domestic and 14 international destinations. By 2026 the new airline will operate domestic flights to 8 destinations, and 7,000 flights a year. Medium-haul routes within the regional international network will commence in 2022. As a result, there will be flights to 14 destinations. In this segment, the plan for 2023-2026 is 37 destinations, reported ukrinform.

The newly-elected Chancellor, Olaf Scholz, is ready to support Ukraine’s move towards EU membership. The coalition agreement of the new German government contains a clause stating its readiness to support Ukraine’s movement towards membership in the European Union. The agreement reads, “We will work together with the EU and its Member States to further develop the Eastern Partnership and a market economy. It is also noted that the German government will continue to assist Ukraine in restoring its full territorial integrity and sovereignty”.