Ukraine: full-featured energy market being created

Ukrainian Prime Minister Volodymyr Groysman has said that the full-featured energy market is being created in Ukraine. “The market is competition, including competitive prices for consumers. The creation of the full-featured energy market, growth of own gas production, introduction of energy efficiency and the increase of budget revenue received from state-run companies – all these…

Ukraine: AMC allows Tigipko to buy Universal Bank

The Antimonopoly Committee of Ukraine (AMC) has allowed ex-Deputy Prime Minister for Social Policy Sergiy Tigipko, the founder and major shareholder of TAS Group, to indirectly acquire Universal Bank (Kyiv) through Bailican Limited (Cyprus). Universal Bank was founded in 1994. The largest shareholder of the bank as of the beginning of 2016 was ERB New…

Ukraine: agriculture ministry launches pilot projects to improve grain quality

The Ukrainian Agrarian Policy and Food Ministry is launching a pilot project, initiated by the International Finance Corporation, to improve the quality of grain in Mykolaiv, Odessa, Kirovohrad and Poltava regions. Ukrainian Grain Association (UGA) President Volodymyr Klymenko has stated this at a press conference. “The International Finance Corporation (IFC) works for grain quality. The…

Ukraine: profitability of soybean and rapeseed production to increase in 2016

In 2016 Ukraine will keep the trend of increasing of the profitability of soybeans and rapeseed production, the Director of the National Scientific Center “Institute of Agrarian Economics”, Academician of the NAAS Yuri Lupenko declared. According to scientists of the Institute of Agrarian Economics, in the current year the profitability of soybean production will increase…

Ukraine: Infrastructure Ministry simplifies certification of cars made not in EU

Ukraine’s Ministry of Infrastructure has agreed on the possibility of certification of alternative technical requirements for an individual approval of wheeled vehicles, produced in countries not being EU members. The corresponding decision is fixed in the ministry resolution dated November 18, posted on its website. Certification authorities will be provided with the conclusions of the…

Ukraine: EU to promote fast introduction of trade preferences for government

The European Union has stated its willingness to promote fast introduction of autonomous trade preferences provided for the Ukrainian government. Ukrainian President Petro Poroshenko said this during a joint press conference with President of the European Council Donald Tusk and President of the European Commission Jean-Claude Juncker following the Ukraine-EU Summit, the president’s press service…

Ukraine: potential of organic production underused

Ukraine uses the potential of organic agricultural production by less than 10%, while this sector is promising for the development of small and medium-sized businesses, Agrarian Policy and Food Minister of Ukraine Taras Kutovyi said. “Ukraine has an extraordinary potential for organic production, which today is used by less than 10% of our capabilities. It…

Ukraine: Astarta steps up soybean product exports

Astarta exported 115 KMT of soybean crushing products in January-September that is almost 81% of the segment’s sales, the company’s press service reports. Revenues in the soybean crushing segment reached 53 million euro, or 25% of Astarta’s consolidated revenue, up by 36% YoY. In January-September Astarta sold 28 KMT of soybean oil, up by 42%…

Ukraine to join BEPS action plan in early 2017

Ukraine from January 1, 2017 will become an official member of the Inclusive Framework on Base Erosion and Profit Shifting (BEPS) led by the Organization for Economic Cooperation and Development (OECD). Ukraine’s Finance Ministry reported that Minister Oleksandr Danyliuk on November 22, handed a letter to OECD Secretary-General Angel Gurria. This is the final phase…

Ukraine: Ukravtodor to build new road to Hungary

The State Agency of Automobile Roads of Ukraine (Ukravtodor) intends to build a new road, which will connect the M-06 Kyiv-Chop highway with the Hungarian road M-3 Budapest-Nyiregyhaza. According to the press service of the agency, the corresponding decision was made following a joint review of infrastructure on the Ukrainian-Hungarian border. “This will allow combining…

Ukraine: grain production revised

Ukraine’s grain output will increase to 64 million metric tons in the 2016-2017 season, the largest grain harvest since the country gained independence in 1991, Agriculture Minister Taras Kutoviy said. Ukraine produced 60.3 million metric tons of grain in the 2015-2016 marketing season, according to the ministry. The latest forecast is a revision of the…

Ukraine: passenger traffic water transport down in January-October 2016

In January-October transportation of passengers by water transport in Ukraine totaled 400,000 passengers (-22.4%, YoY).

According to the State Statistics Committee of Ukraine, total passenger turnover in Ukraine fell by 6.6% to 4.02 million passengers.

In 2015, water transport of Ukraine carried 0.6 million passengers (-3.3%, YoY). (Portnews/Business World Magazine)

Ukraine: NBU relaxes access to currency loans with participation of export-credit agencies

The National Bank of Ukraine (NBU) has made an exception of the general rules of controlling the rates of foreign credits of loans if resident borrowers (both companies and financial institutions) raise funds from nonresident creditors with the participation of export-credit agencies. “This step would expand opportunities for residents’ access to foreign credit resources provided…