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17:38 PM Wednesday, July 26, 2017
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UBJ AM July 10, 2017
Mark Satter
GDP growth forecast cut to 1.6 percent; Kernel expands land bank; Sugar exports up 10 times
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

• The National Bank of Ukraine has cut its 2017 GDP growth rate forecast to 1.6 percent, from 1.9 percent, according to bank’s website. The Bank forecasts 3.2 percent growth in 2018.

• A bill that would allow Ukraine to follow British laws during the privatization of industries has been sent to the National Reforms Council. The law is designed to protect investors, and increase transparency, Prime Minister Volodymyr Groysman said.

• Former presidential Chief of Staff Borys Lozhkin and ex-Minister of Infrastructure Andriy Pyvovarsky are partnering to open Samaan Capital, a private-sector investment company registered in May.

Francis Malige, the EBRD’s managing director for Eastern Europe, said Friday that Ukraine could unlock nearly $50 billion of collateral for lending to the country’s agricultural industry by overhauling its land legislation, according to Reuters.

• The IMF’s mission chief to Ukraine, Ron von Rooden, called on the country’s government Friday to “show political will and privatize state-owned companies.” He conceded that land reform will require further discussion, Reuters reports.

• Kernel, one of Ukraine’s largest producers of sunflower oil, has acquired Agro Invest Ukraine, a company with land reserves of 27,500 hectares and a grain storage capacity of over 170,000 tons for $43.3 million. With this purchase, Kernel’s land bank rises above 600,000 hectares.

• Sugar exports rose 10 times from September 2016 to this June, compared to the same period one year earlier. Ukraine has exported over 738,000 tons of sugar this season, Ukrtsukor reports.

• Aircraft manufacturer Antonov told a visiting delegation of U.S. congressmen in Kyiv last week that it wants to work with U.S. manufacturers, according to Aviation Today.

• Ukrainian officials want to cut the government’s stake in the country’s banking sector from 55% to 20%, Finance Minister Oleksandr Danylyuk said Friday. Much of the baking system has been nationalized as international banks withdrew from the country.

• Ukraine’s two professions expected to be most in demand in the future are in agriculture and IT, Serhiy Marchenko, development director for work.ua job search website, told Interfax.

• Ukraine’s Special Communications Agency has warned victims of the Petya/NotPetya cyber attack that they may be vulnerable to future attacks even after their systems have recovered, UNIAN reports.


For comments or story tips, please email UBJ AM News Reporter Mark Satter at marksatter@theubj.com

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