Ukraine: Kyivavtodor officials accused of UAH 300 million embezzling

Officers of the Security Service of Ukraine (SBU) jointly with Prosecutor General’s Office (PGO) have revealed embezzlement of hundreds of millions of hryvnias by officials of municipal corporation Kyivavtodor. The press service of SBU reported that it was established that officials embezzled funds of the national and city budgets provided for construction, maintenance, overhaul and…

Ukraine: PrivatBank to expand cooperation with government in providing some social services

State-run PrivatBank plans to expand cooperation with the government in providing some social services on the basis of Privat24 platform, PrivatBank Head Oleksandr Shlapak has said. “PrivatBank today is a leader of the so-called ‘digital banking.’ For many years we have been providing services that no country provides. We are trying to convince the government…

Ukraine: Alfa-Bank Ukraine not to be sold

The sale of Alfa-Bank Ukraine is not being planned, one of the bank’s major shareholders Petr Aven declared. “We are not preparing to sell,” Aven said, adding that Alfa-Bank currently had a “normal working relationship” with the National Bank of Ukraine. Earlier, the director of strategic communication of Alfa-Bank Ukraine Denis Kazvan said that after…

Ukraine: government approves project to build unit 4 of Dnistrovska hydroelectric pumped storage power plant

Ukraine’s Cabinet of Ministers has approved a project on construction of the second stage of Dnistrovska hydroelectric pumped storage power plant, consisting of unit 4. As reported, the hydroelectric generation development program until 2026 approved by government resolution No. 552-r dated July 13, 2016 envisages the start of construction of unit 4 in 2017 and…

Ukraine: 31 million tons of grains exported

Since the beginning of 2016/2017 MY, Ukraine has exported 30.83 million tons of grains, the Ministry of Agrarian Policy and Food of Ukraine declared. In particular, wheat exports totaled 13,97 million tons, barley – more than 4.7 million tons, and corn – 11.91 million tons. Flour export reached 267.8 thousand tons, including 266.7 thousand tons…

Ukraine: NBU suggests NSDC to ban Russian state banks’ subsidiaries from executing transactions in favor of their parent banks

The National Bank of Ukraine (NBU) has suggested implementing the National Security and Defense Council (NSDC) decision by banning the Ukrainian subsidiaries of Russian state-owned banks from moving capital outside Ukraine. “The imposition of such sanctions means prohibiting the carrying out of any financial operations in favor of the parent bank, i.e. granting interbank loans,…