Ukraine: Antonov to become JSC

The Cabinet of Ministers of Ukraine has decided to transform Antonov and Plant 410 CA state-owned enterprises, which are part of Ukroboronprom state-owned defense giant, into joint stock companies. The relevant resolution was adopted at a government meeting on May 11. “This will improve the corporate management of enterprises, as well as attract investors,” said…

Ukraine: key risks of banks low operation efficiency of state-owned banks and low quality of assets

The key risks of the Ukrainian banking sector are low operation efficiency of state-owned banks and low quality of their assets, according to the banking sector review published by the National Bank of Ukraine (NBU) on its website. “Largest state-owned banks require the radical change of their business models and designing long-term development strategies. The…

Ukraine: Ukroboronprom and MKEK to cooperate in creation of ammunition

The Ukroboronprom State Concern and Turkey’s MKEK (Makina ve Kimya Endustrisi Kurumu) operating in machine and chemical industry will establish cooperation under the ammunition development program, the press service of the concern reported on May 10. According to the report, the cooperation agreement between MKEK and Ukroboronprom’s Artem state-owned joint-stock company and state-run foreign trade…

Ukraine: new airline to be set up

A new airline will be set up soon in Ukraine, which is expected to compete with the Ukraine International Airlines (UIA), Ukrainian Infrastructure Minister Volodymyr Omelian said. “I hope that another airline will be set up in Ukraine this year, which will become a worthy competitor to the UIA. In this case, we will regain…

Ukraine: international reserves up in April 2017

As of May 1, Ukraine’s international reserves amounted to $17.175 million, according to preliminary data. Compared to March, they increased by $2.052 million, or by 13.57% mainly due to receipts from the International Monetary Fund and other donors of Ukraine. This was reported by the press service of the National Bank of Ukraine. “The dynamics…

Ukraine: buckwheat planting started

Agrarians of Ukraine started planting buckwheat. As of May 5, the planted areas reached 18 thousand ha, or 13% of the plan, the Ministry of Agrarian Policy and Food of Ukraine declared. Also, Ukrainian agrarians planted spring grains and pulses throughout the areas of 5.497 million ha, or 76% of the forecast, down by 343…

Ukraine: USA becomes major importer of honey

Since the beginning of 2017, Ukraine has sent most of its honey exports to the United States, totaling $12.6 million, the press service of the Ukrainian Agrarian Policy and Food Ministry reports. “The United States has been the major importer of Ukrainian honey during the period. The export deliveries of honey to this country came…

Ukraine: state-owned banks strategy to focus on settling problem of competition

A strategy for state-owned banks being designed will focus on settling the problem of competition between the financial institutions, first of all PrivatBank and Oschadbank (both based in Kyiv), Ukrainian Finance Minister Oleksandr Danyliuk has said. “Oschadbank is competing with PrivatBank. I cannot criticize managers of the two banks for competition: they are commercial structures,…

Ukraine: electricity exports to Moldova and Eastern Europe to continue

In May Ukraine is expected to export 583 million kilowatt-hour of electricity to Moldova and Eastern European countries, according to the forecast balance of Ukraine’s integrated energy system for May. All types of electricity-generating facilities in Ukraine’s integrated energy system will produce 11.608 billion kilowatt-hour of electricity. Meanwhile, Energoatom National Nuclear Energy Generating Company of…

Ukraine: PrivatBank to extend its cashless network

PrivatBank states it will increase its payment terminal network by 20% with Verifone services, about 20,000 Verifone VX 520 terminals are expected to be deployed by September, the bank’s press service reports. “PrivatBank aims at increasing its network for payment and contactless cards acceptance by 20% in 2017. Verifone has been selected as the payment…

Ukraine: gas transit up in January-April 2017

Ukraine in January-April increased transit of natural gas through its gas transportation system by 22.5% (5.602 billion cubic meters) compared to January-April 2016, to 30.53 billion cubic meters, according to live data from PJSC Ukrtransgaz. Gas transit through Ukraine to Europe in the past four months amounted to 29.388 billion cubic meters and to Moldova…