Section: Economy
Ukraine`s Verkhovna Rada votes to introduce competitive electricity market
Ukraine`s Verkhovna Rada has passed a bill on the electricity market, which foresees more competitive relations on the energy market, including the retail one where end consumers will be able to select a power supplier. Respective bill No. 4493 passed second reading, having scored 277 MPs` votes with the required minimum being 226 votes. The said...
Serhiy Kurchenko, members of Yanukovych’s criminal group, plans to monopolize liquefied petroleum gas supplies to Ukraine – Russian media
Fugitive Ukrainian businessman, one of the people from Viktor Yanukovych entourage, Serhiy Kurchenko may become a monopoly supplier of Russian liquefied petroleum gas (LPG) to Ukraine, according to the Russian newspaper Kommersant. It is expected that the export of LPG to Ukraine will be limited starting May, and the only option for Russian...
Ukraine to launch big blockchain deal with tech firm Bitfury
Ukraine has partnered with global technology company the Bitfury Group to put a sweeping range of government data on a blockchain platform, the firm`s chief executive officer told Reuters, in a project he described as probably the largest of its kind anywhere. Bitfury, a blockchain company with offices in the United States and overseas, will...
Ukraine needs up to $10 bln in FDI annually to see economic growth – head of National Investment Council
Ukraine needs to attract up to $10 billion in foreign direct investment annually to achieve substantial economic growth, according to head of Office of the National Investment Council Yulia Kovaliv. ”Today, Ukraine has reached macro-stabilization. However, in terms of GDP, we are significantly behind the neighboring Eastern European states. The...
Cost of IMF loan: Ukraine seeks to allow farmland sale from 2018
Ukrainian authorities intend before late May 2017 to adopt a law regulating farmland turnover, and starting 2018, when the moratorium expires, to launch farmland sales. The adoption of a corresponding law is one of the structural beacons of the International Monetary Fund, while Ukraine`s will to start farmland sales is set out in a letter of...
Ukraine`s central bank hopes for $1 bln in investment in 2017
Deputy Governor of the National Bank of Ukraine Dmytro Solohub projects an inflow of foreign direct investment in Ukraine in 2017 will total $1 billion, which is the same level as in 2016. ”As for foreign direct investment, our forecast for an inflow of investment this year is the same as it was last year, i.e. $1 billion,” he told reporters....
Wizz Air launches operations from its second airport in Ukraine
Wizz Air, the largest low-cost airline in Central and Eastern Europe and Ukraine`s largest low-cost carrier, started on April 13 its operations from Lviv`s Danylo Halytsky International Airport with the new low-fare route to Wroclaw in Poland. The flight will be carried out twice week – on Tuesdays and Saturdays, with fares starting from as low...
Naftogaz`s charter capital grows by almost US$1.1 bln
The charter capital of NJSC Naftogaz of Ukraine has grown by UAH 30 billion, or US$1.1 billion, to UAH 190.15 billion, or $7.07 billion, according to Ukraine`s National Securities and the Stock Market Commission. The commission registered the report on the results of private placement of Naftogaz`s shares, in keeping with which, the company`s...
Russian government gives cash injection to Crimea bank
Russia`s government is to inject $265 million of budget money into a state-owned bank in Crimea because the lender does not have enough capital to finance infrastructure projects in the region, which Moscow annexed from Ukraine three years ago, according to Reuters. According to a government order seen by Reuters, the charter capital of the...
Monetary base in Ukraine shrinks by almost UAH 25 bln in 2017
Ukraine`s monetary base in March decreased by 1.3%, or by UAH 4.57 billion (US$170 million), to UAH 356.914 billion, or $13.27 billion, according to the National Bank of Ukraine (NBU) website. The monetary base has dropped by 6.5%, or by UAH 24.662 billion, or $917 million, since the beginning of the year, the report said. According to the data...