9:20 AM Tuesday, August 21, 2018
UBJ AM Aug. 21, 2017
Cyber attack warning for Independence Day; Third runway for Boryspil; Renewable energy to climb from 4 percent to 25 percent
image/svg+xml Kyiv Lutsk Rivne Zhytomyr Lviv Ternopil Khmelnytskyi Uzhgorod Chernivtsi Vinnytsia Chernigiv Sumy Kharkiv Poltava Cherkasy Kirovohrad Lugansk Dnipropetrovsk Donetsk Zaporizhzhia Mykolaiv Odesa Kherson Simferopol Sevastopol Ivano- Frankivsk

• Ukraine’s central bank warns banks to prepare for a major cyber attack this week, timed to coincide with Ukraine’s Independence Day on Thursday. Reuters reports that the new malware is spread by opening email attachments of word documents. A warning letter from the central bank reads: "The nature of this malicious code, its mass distribution, and the fact that at the time of its distribution it was not detected by any anti-virus software, suggest that this attack is preparation for a mass cyber-attack on the corporate networks of Ukrainian businesses.”

• Believing that Boryspil’s passenger flow will nearly triple by 2023 to 25 million travelers a year, airport officials are working on an ambitious six-year capital spending plan that could hit $1 billion, according Yevgeny Dykhne, the airport’s deputy director. This would include: building a third runway, completing the multi-level parking garage, and expanding the main passenger terminal to handle 2,000 passengers an hour.

• Ukraine International Airlines will launch Oct. 30 two flights a week from Boryspil to Eilat, the southern Israeli resort town on the Gulf of Aqaba. UIA already has three flights a day from Boryspil to Tel Aviv.

• Concorde Capital, acting for a ‘portfolio investor,’ bought at auction a 25 percent stake in Western Ukraine’s Zakhidenergo power company. Ihor Mazepa, head of Concorde, told Interfax, of the regional power companies: “If you look at their cost, the ratio of capitalization to the established capacity, they are very low in comparison with the corresponding indicators of energy generating companies in Eastern Europe.”

• GESS Ukraine, the Ukrainian unit of U.S. Green Energy Sustainable Solution, is interested in investing in Kherson’s combined heat and power plant, Yiry Nikitin, deputy head of the State Property Fund, said after meeting with GESS executive Shaun Lee, from Florida. Separately, Nikitin said the power plants of Kryvy Rih, Severodonetsk and Mykolaiv are being prepared for sale.

• Naftogaz, Ukraine’s state oil and gas producer, will hire Lazard Freres SAS (France) to advise on the restructuring of Ukraine's state debt to help in the sale of Naftogaz's assets in Egypt. Naftogaz said in an announcement in the ProZorro e-procurement system that the cost of Lazard services is $1.25 million, which is $200,000 less than the expected cost.

• As of Monday, the Moscow Stock Exchange stops Ukrainian hryvnia - the Russian ruble exchange sales. The Exchanged cited a lack of demand.

• Cashless payments increased during the first half of this year from 35% to 38.4% of all commercial transaction, the National Bank of Ukraine reported. Cashless payments reduce the off the books economy and allow the government to collect more taxes and to gather more accurate statistics.

• Google Ukraine’s income has grown by 60 percent a year since 2015, Dmytro Sholomko, director of Google Ukraine, told the news site. Boosting revenues, the company now has tens of thousands of advertisers in Ukraine. He asserted the government’s shut down in May of Russian search engines is not a prime factor for growth this year. He said: “Regardless of the situation around Yandex or VKontakte, the Ukrainian market is always growing. And our incomes are also growing rapidly.”

• With 100,000 IT specialists and 1,000 IT service firms, Ukrane’s IT industry generated a record $3.2 billion in revenue last year, Oleksandr Kubrakov, director of IT Ukraine, told Oxy news site. He said: “It’s growing faster than all other industries.”

• Ukrposhta, the state mail corporation, has won nearly $1 million in grants to improve the security and speed of international mail handling in Ukraine. Three grants come the Universal Postal Union, the Bern-based UN agency.

• Ukraine’s agriculture ministry reports farmers have completed this year's wheat harvest with 26.5 million tons and an average yield of 4.17 tons. Now farmers are harvesting corn, which was planted on 4.5 million hectares this year.

• With China and the EU moving to import more Ukrainian milk and dairy products, Ternopil Dairy Plant, known in Ukraine for its Molokiya brand, plans to invest $5 million by 2020 to expand production.

• Ukraine government has approved a new national energy strategy that increases the share of renewables, largely solar and wind, to 25 percent by 2035, from the current 4 percent. The government will work to attract foreign investors in the green energy sector and will encourage households to increase the use of biomass in electricity and heat generation. Coal is to drop to 12.5 percent by 2035.

• Turkey’s Güriş Holding is building an 80-MW wind power plant in Odessa. Commission of the first 30MW will be next August. The project uses GE turbines.

• In one of Ukraine’s largest corporate solar projects, Mariupol Sea Port Authority is installing 252 solar panels. In an investment that is to pay for itself in four years, the solar project will allow this corporation on the Sea of Azov to turn off gas for hot water for eight months every year, from March to October.

• Kazakhstan’s energy ministry has chosen a Ukrainian company, Fuhrlander Windtechnology LLC, to build a wind farm on the Kazakh steppes. A licensed partner of Germany’s Fuhrländer AG, the Ukrainian company makes wind turbines at the facilities of Kramatorsk Heavy Machine Tool Plant.

For comments and story tips, please contact UBJ Editor in Chief at

We recommend
Uklon taxi’s into Africa; Solar cools; 44 gas fiel...
Editor Jul 27, 2018
Ukraine and US join forces against Nord Stream 2;...
Editor Jul 26, 2018
Ukraine close to finalizing IMF deal; Trade with I...
Editor Jul 25, 2018
--> --> -->