Ukraine

Business

Journal

15:22 PM Thursday, September 21, 2017
Free Articles
UBJ AM July 19, 2017
Mark Satter
Ukraine aims for 1 million Turkish tourists; Arms sales up 25 percent; Cyberattack inflicted real economic damage
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 is targeting receiving one million Turkish tourists per year. Building on new visa-free, passport-free travel, the Ministry of Economic Development and Trade is adopting several measures to increase the tourist flow of tourists, including press tours for leading Turkish mass media.

• Ukraine’s trade with neighbor Belarus increased by 10% 2016, with a volume of $3.8 billion, making Ukraine the second most important trade partner with Belarus following Russia.

• President Petro Poroshenko and Georgian Prime Minister Giorgi Kvirikashvili say they want to increase trade between the countries to at least $1 billion. Poroshenko visited Georgia yesterday.

• Ukrainian manual laborers working in Poland have seen salary increases of up to 33% since the introduction of visa free travel last month.

• The European Union’s new rules for food imports from Ukraine would raise quotas for Ukrainian honey by 2,500 tons, processed tomatoes by 3,000 tons, grape juice by 500 tons, oats by 4,000 tons, wheat by 65,000 tons, corn by 625,000 tons, barley by 325,000 tons, and cereals by 7,800 tons.

• Nibulon, Ukraine’s largest agricultural company, has invested $19 million to build a grain transshipment terminal in Hola Prystan, a Kherson region on a Dnipro River tributary.

• The National Bank of Ukraine intends to remove Price Waterhouse Cooper, the second largest professional services firm in the world and one of the big four auditors, from the register of companies authorized to audit banks in Ukraine. This follows its audits of PrivatBank in recent years.

• Privatbank has announced that McKinsey & Company, the international accounting firm, has won a bid to design a market strategy to optimize the bank’s operations.

• Ukrainian business suffered an estimated $8 billion in loses following last month’s cyber attacks which affected a third of the country’s banks, the Chamber of Commerce reports. Experts also warn of the likelihood of more attacks in the coming weeks on Ukrainian systems using Linux.

• Ukrnafta has been forced to freeze a drilling project on the Velykobubnivske field in the Sumy region following the State Geological Service’s refusal to renew drilling licenses.

• Ukroboronprom, the state-owned management overseeing Ukraine’s military-industrial complex, has increased weapons exports by 25%, to $770 million annually.


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

All Comments (0)
No Comments
We recommend
​Radisson, Marriott and Accor to open new hotels i...
James Brooke Sep 21, 2017
​Ukraine plans to place $3 billion in Eurobonds in...
James Brooke Sep 20, 2017
Big demand for Ukraine bonds; New budget predicts...
James Brooke Sep 18, 2017
--> --> -->