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1:36 AM Friday, July 28, 2017
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UBJ AM News: Dec. 19, 2016
PrivatBank is nationalized, the monopoly watchdog fines a major cigarette distributor and the Azov Shipyard is being prepped for a competitive bidding process
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•The Cabinet decided this weekend to nationalize PrivatBank, the country's largest bank, multiple sources reported. The bank will become 100 percent owned by the state.

•Ukraine's Antimonopoly Committee fined tobacco distributor Tedis Ukraine, previously Megapolis-Ukraine), $16 million for pricing products higher than would have been possible in a competitive market, Interfax Ukraine reported. In August, the committee finished an investigation of the wholesale tobacco market and determined that the number of cigarette distributors should be increased.

•Ukroboronprom is seeking closer cooperation with the Defense Ministry under the UKRARPA defense innovation development project, Interfax Ukraine reported. UKRARPA would unite designers, startups, investment funds and military personnel. The platform would help to concentrate progressive scientific ideas, investment and a mechanism for exchanging and protecting technologies. Ukroboronprom is holding talks to start cooperation with U.S. Defense Advanced Research Projects Agency, or DARPA.

•As of Dec. 15, Ukraine had delivered more than 20 million tons of grain to foreign markets in the 2016-17 marketing year, topping the figure for the same period last year by 880,000 tons. Ukrinform reported, citing Food and Agrarian Policy Ministry data. In addition, exports of Ukrainian agricultural products in the first 10 months of 2016 amounted to nearly $12 billion.

•Hungarian low-cost airline Wizz Air will expand its fleet in Kyiv, Interfax Ukraine reported. And in August, Wizz will launch flights from Kyiv to Copenhagen and Nuremberg. In addition, starting in August the airline will increase the frequency of flights to Budapest to daily and offer more flights to Dortmund, Munich, Bratislava, Cologne and Hamburg.

•The International Monetary Fund's resident representative in Ukraine told participants in a Finance Ministry round table that Ukraine has achieved “good results” in macroeconomic stabilization and fiscal matters, Ukrinform reported.

•In the past two months, Ukraine has started exporting to the EU in five trade categories in which the country is new to the European market, Liga.net reported. The products include mushrooms, ethanol and sweet corn.

•The Cabinet transferred oversight of the Azov Shipyard to the State Property Fund in anticipation of competitive bidding to put the facility up for rent, Unian reported.

•In a post on his Facebook page, Prime Minister Volodomyr Groysman pledged his personal support for Ukrainian startups and outlined steps he plans to take for creating synergy between the government and the country's entrepreneurs, Ekonomicheskaya Pravda reported.

•Companies from six countries are vying to fix the connector road around Zhitomir, according to Ekonomicheskaya Pravda. The countries include Turkey, China and Ukraine.

•The Cabinet decided this weekend to nationalize PrivatBank, the country's largest bank, multiple sources reported. The bank will become 100 percent owned by the state.

•Ukraine's Antimonopoly Committee fined tobacco distributor Tedis Ukraine, previously Megapolis-Ukraine), $16 million for pricing products higher than would have been possible in a competitive market, Interfax Ukraine reported. In August, the committee finished an investigation of the wholesale tobacco market and determined that the number of cigarette distributors should be increased.

•Ukroboronprom is seeking closer cooperation with the Defense Ministry under the UKRARPA defense innovation development project, Interfax Ukraine reported. UKRARPA would unite designers, startups, investment funds and military personnel. The platform would help to concentrate progressive scientific ideas, investment and a mechanism for exchanging and protecting technologies. Ukroboronprom is holding talks to start cooperation with U.S. Defense Advanced Research Projects Agency, or DARPA.

•As of Dec. 15, Ukraine had delivered more than 20 million tons of grain to foreign markets in the 2016-17 marketing year, topping the figure for the same period last year by 880,000 tons. Ukrinform reported, citing Food and Agrarian Policy Ministry data. In addition, exports of Ukrainian agricultural products in the first 10 months of 2016 amounted to nearly $12 billion.

•Hungarian low-cost airline Wizz Air will expand its fleet in Kyiv, Interfax Ukraine reported. And in August, Wizz will launch flights from Kyiv to Copenhagen and Nuremberg. In addition, starting in August the airline will increase the frequency of flights to Budapest to daily and offer more flights to Dortmund, Munich, Bratislava, Cologne and Hamburg.

•The International Monetary Fund's resident representative in Ukraine told participants in a Finance Ministry round table that Ukraine has achieved “good results” in macroeconomic stabilization and fiscal matters, Ukrinform reported.

•In the past two months, Ukraine has started exporting to the EU in five trade categories in which the country is new to the European market, Liga.net reported. The products include mushrooms, ethanol and sweet corn.

•The Cabinet transferred oversight of the Azov Shipyard to the State Property Fund in anticipation of competitive bidding to put the facility up for rent, Unian reported.

•In a post on his Facebook page, Prime Minister Volodomyr Groysman pledged his personal support for Ukrainian startups and outlined steps he plans to take for creating synergy between the government and the country's entrepreneurs, Ekonomicheskaya Pravda reported.

•Companies from six countries are vying to fix the connector road around Zhitomir, according to Ekonomicheskaya Pravda. The countries include Turkey, China and Ukraine.

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