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9.2 Major corporate news 9.2.1 Oil & gas corporate news
Ukraine national gas company Naftogaz Group paid UAH 70bn ($1.9bn) in taxes to the state budget based on the results of January-September 2023, the company said on October 19. The company's press service reported that UAH 65bn of this sum was allocated to the state budget, constituting 11.8% of the total business contributions to the state treasury. An additional UAH 5bn was directed towards local budgets. “Naftogaz Group is a reliable economic support for communities and the country as a whole. In September alone, our enterprises transferred UAH 8.6bn to the state budget, which is 14.5% of all tax revenues,” said head of the board Oleksiy Chernyshov as cited by Interfax Ukraine. "In September alone, our enterprises transferred UAH 8.6bn to the state budget, which accounts for 14.5% of all tax revenues." In 2022, the Group made significant contributions, transferring almost UAH 100bn to various budgets, and in 2021, it contributed UAH 116bn, demonstrating its continued dedication to supporting the country's financial stability and development.
9.2.2 Automotive corporate news 9.2.3 Transport corporate news
Ukrainian Railways announces a ₴15B loss and is preparing to raise salaries due to a personnel shortage. Passenger transportation, in general, is not profitable and generates losses for Ukrzaliznytsia (UZ) of approximately ₴15B ($0.4B), the company's chairman, Yevhen Lyashchenko, said. At the Kyiv International Economic Forum, he announced that in 2024 UZ will increase employees' salaries by 10% to promote retention. Total salaries for professions such as locksmith and electrician have risen by 30-40%. However, personnel accounts for approximately 50% of UZ’s total costs, which is a significant financial burden on the company. The company’s average monthly salary is currently ₴14,500 ($400). The company has 220,000 employees, with 190,000 working directly for UZ and 5,500 in affiliated companies. At the same time, according to Lyashchenko, the company lacks 30-50% of the necessary qualified personnel. To improve its financial condition, the company expects to adjust tariffs for the transportation of commercial goods in 2024 that follow the inflation level.
9.2.4 Construction & Real estate corporate news 9.2.5 Retail corporate news
Burger King still 'open as usual' in Russia. Burger King "remains open as usual in Russia," despite the fast food chain claiming at the start of the full-scale invasion of Ukraine that it would exit the country, the BBC reported
89 UKRAINE Country Report November 2023
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