Ukraine: charitable activities of religious organizations exempt from taxes

President of Ukraine Petro Poroshenko has signed the law on exempting charitable activity carried out by religious organizations from taxes. The press service of the Cabinet of Ministers noted Poroshenko signed amendments to the Tax Code of Ukraine concerning exemption from taxes of non-profit (charitable) activities, including humanitarian aid, charity, philanthropy, etc., activities carried out…

Ukraine: poultry imports from Austria banned

The State Service for Food Safety and Consumers’ Rights Protection has imposed a ban on imports of poultry and by-products from Austria. According to the service’s website, with reference to the World Organization for Animal Health, the outbreak of highly pathogenic avian influenza (HPAI) was registered at farms in the territory of Austria and Germany.…

Ukraine: NBU allows Finexbank self-liquidating

The National Bank of Ukraine (NBU) allowed the liquidation of Finexbank (Kyiv) at the initiative of the owners. According to the regulator’s website, on November 17, Finexbank had sufficient liquidity to make payments to clients. The volume of highly liquid assets amounted to 21 million UAH, while total liabilities were 6.5 million UAH, in particular…

Ukraine: government creating working group to analyze situation in aerospace sector

Ukraine’s Cabinet of Ministers is creating an ad hoc working group to analyze the situation in the aerospace sector and draw up mechanisms for increasing its management efficiency, Ukrainian Prime Minister Volodymyr Groysman has said. Groysman, speaking in parliament, knocked at the effectiveness of the aerospace sector management. He said that the sector enterprises with…

Ukraine: Q3 GDP growth sign of economic recovery

Ukraine`s GDP grew by 1.8% YoY in the third quarter of 2016, which was a sign of economic recovery in the country. Ukrainian Vice Prime Minister – Economic Development and Trade Minister Stepan Kubiv stated this at a meeting dedicated to the Strategy for Small and Medium Enterprises Development till 2020. “Yesterday Prime Minister Volodymyr…

Ukraine: economy starting to recover

Ukraine’s economy is starting to recover, while the government is paying every effort to maintain and accelerate that growth as well as reinvest it into the quality of people’s lives. This was stated by Prime Minister of Ukraine Volodymyr Groysman. The Prime Minister noted that recently the International rating Agency Fitch had upgraded long-term Issuer…

Ukraine: over 13 MMT of sunseed harvested

Ukrainian farmers are completing sunseed harvesting. As of November 14, they harvested 5816 thousand ha, or 98% of the intended area (5916.2 thousand ha). That was 16% more than on the same date last season (4992 thousand ha). Farmers obtained 13159 KMT of sunseed with an average yield of 2.26 MT/ha, which is an all-time…

Ukraine: Japanese investors interested in Kherson seaport

Experts of the Japan International Cooperation Agency had a meeting with the management of the Kherson commercial seaport and discussed possible cooperation, the enterprise’s chief Andriy Sokolov said. For seven years now, the company’s representatives have been looking for adequate projects in Ukraine to provide technical assistance with subsequent possible financing. Using Japanese (sovereign) loans,…

Ukraine to increase agricultural output in 2016

According to scientists of the Institute of Agrarian Economics, in 2016 the general production of agricultural goods will increase by 3.7% YoY and total 248.2 billion UAH, the Director of the National Scientific Center “Institute of Agrarian Economics” Yuri Lupenko declared. In particular, the production volumes of plant growing commodities will increase by 6.1% to…

Ukraine: 2016 losses from restrictions in trade with Russia estimated at $900 million

Ukraine’s losses from restrictions in economic cooperation with Russia are estimated at $900 million in 2016, Ukrainian Deputy Minister of Economic Development and Trade Natalia Mikolskaya said. “In this context, the European Commission has agreed to offer additional trade preferences to Ukraine”, she said, adding however that these funds were not enough “to cover even…

Ukraine: winter grains not emerged on 16% of area

Market participants are closely watching winter crop condition is Ukraine. Late planting, a substantial temperature drop in November preceded by drought have added to the risk of crop loss while wintering. The first forecasts have appeared, suggesting that over 15% of winter crops will be reseeded in spring. This is a rather pessimistic scenario, as…