Weekly Digest

  • Regular easing of monetary policy
  • Electricity for small businesses will be cheaper
  • Get ready to work in a new way
  • To transfer your business?
  • Good furniture from recycled newspapers.

Everything that happened last week in Ukraine and the world and is relevant for the furniture maker, read our digest:

1. The National Bank of Ukraine resumed the monetary policy easing cycle and from July 19 reduced the discount rate to 17% per annum after keeping it at the level of 17.5% per annum in June. As the NBU Chairman noted, Yakov Smoliy during the briefing, the regulator continues the monetary policy easing cycle, as he sees a downward trend in inflation to 5%.
By this, the regulator kept it at its highest level four times in a row among the countries of Eastern Europe in order to ensure a decrease in inflation. The whole rate increase cycle has lasted since May 2017.

2. The price of electricity for small residential customers served by universal service providers, from August, depending on the voltage class, will decrease by 4-6% compared to the July price. This was reported by a member of the National Commission, carrying out state regulation in the field of energy and utilities Elena Antonova. “Starting from August 1 for consumers of the 1st class of voltage will be at the level of 4%, for the second class – at the level of 6%,” she said.

3. The Ministry of Social Policy has promulgated a bill, about which we have already briefly informed. It is designed to legalize modern methods of work: teleworking, flexible working hours, which allows workers to plan working hours themselves, and also cancels the maximum break for lunch (now allowed no more than two hours). Now it’s not possible to work in the office and not from call to call only by agreement with the management of a private company, and this is not practiced at all in state structures. According to the law, the document will be discussed a month. The Ministry of Social Policy hopes that the new composition will cope with its adoption in the fall. The adopted changes will have to come into force on the day after the law is published, that is, it is quite possible before the end of this year.

4. According to Bloomberg, one of the world’s leading providers of financial information, about 60,000 Russian businessmen will face the problem of transferring business to the next generation in the near future. It is not difficult to guess that such a problem is ripening for the Ukrainian business, especially since there is practically no domestic experience in solving it.
It turned out that the typical business owner (again, by analogy – and Ukrainian) is now from 42 to 55 years old. Only 14% of entrepreneurs are ready for future heirs (children or next of kin) to do their company in the future. About 23% more think about their son or daughter getting work experience in their father’s business, and then they themselves decide whether they want to do this work. But more than half of the respondents said that they not only did not insist that their child take over the business over time, but also against it. About 4% even reported that they would actively refuse the heir from such an option.

5. Designer Already Lee turned recycled paper into a material that can be used to create furniture. Newspaper pulp is mixed with glue and pressed in a mold. The paper base gives the material a textured marble appearance and, according to the designer, a soft fabric-likeness to the touch.
Each pressed workpiece can be cut, drilled and glued in the same way as wood. The square opening of each piece of furniture allows you to connect them together.

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