Ukraine: milk production down in 11 years

In 2005-2016, the milk production in Ukraine fell by almost 25%, Mykola Kovalsky, the marketing and communications director of the Astarta agro-industrial holding said. “In 2005-2016, the milk production in Ukraine fell by almost 25%, while the cow population in our country decreased by more than 45%,” Mykola Kovalsky said. The State Statistics Service of…

Ukraine: court obliges government to resume consideration of Yuzgaz’s application on Yuzivska field

Kyiv’s district administrative court has declared unlawful the decision of Ukraine’s Cabinet of Ministers not to allow Yuzgaz B.V. (the Netherlands) to participate in the product sharing agreement (PSA) on the Yuzivska field (Kharkiv and Donetsk regions) and obliged the government to resume the consideration of the company’s application. The court ruling was published in…

Ukraine: FUIB finishes 2016 with profit

First Ukrainian International Bank (FUIB) finished 2016 with a net profit of 367 million UAH. At the same time, bank’s operating profit amounted to 1.8 billion UAH. The bank reduced allocations to reserves more than 3.5-fold, from 4.8 billion UAH in 2015 to 1.3 billion UAH in 2016. According to the results of 2016, FUIB’s…

Ukraine: UIA denies financial relations with PrivatBank

Ukraine International Airlines (UIA, Kyiv), the country’s largest air carrier, has refuted any financial relations with PrivatBank (Dnipro). According to UIA, PrivatBank board chairman Oleksandr Shlapak in an interview with the Ekonomichna Pravda edition published on March 9, argued that all financial and budgetary operations of UIA had allegedly been outsourced to the bank. “We…

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…