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9:01 AM Wednesday, November 22, 2017
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UBJ AM News: Feb. 21, 2017
A major steel plant announces growth, taxpayers could get a break, and Ukraine is prominent in the top 100 outsourcing firms.
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

ArcelorMittal Kryvyi Rih plans to invest $400 million in the development of the plant in 2017, Interfax Ukraine reported. According to a company press release, the money will be spent on modernization of production, environmental improvements, overhaul of equipment and construction of new facilities.

Local governments in Ukraine saw their budgets grow 44 percent in 2016 from 2015, nearly $5.33 billion, thanks to decentralization, according to the press service of the Ukrainian Ministry for Regional Development, Construction and Housing, Unian reported.

The Ukrainian Sea Port Authority will meet leading regional and international engineering and construction companies that deal with berth infrastructure with the intention of broadening the field of potential participants in tenders, according to Interfax Ukraine.

Twelve Ukrainian IT companies made the 2017 list of the world's top 100 outsourcing firms, ain.ua reported. EPAM, Ciklum, ELEKS, Luxoft, NiX, Miratech, Intetics, SoftServe, Softjourn, Sigma, TEAM International Services and Softengi all qualified.

State Fiscal Service chief Roman Nasirov said the individual income tax rate can be reduced by 1 percentage point to an even 17 percent from now on, according to Unian.

U.S. pharmaceutical company MSD, known as Merck in the United States and Canada, plans to start supplying cancer medication to Ukraine by late April. Immuno-oncological medicines are the newest medicines to treat cancer, and they have shown themselves to be effective in fighting the disease in its late stages, Interfax Ukraine reported

Passenger flow at Lviv International Airport surged in January to a 55 percent increase from the same month the previous year, Novoe Vremya reported. International passenger traffic at the airport rose 79 percent. The most popular destinations were Istanbul, Kyiv's Boryspil International Airport, Warsaw, Hurgada and Minsk.

In 2016, Ukraine imported almost 122,954 motor vehicles, totaling more than $1.9 billion, Ukrinform reported. Most of the imports consisted of light motor vehicles. The top countries for delivery were Germany (20 percent), Japan (13 percent), France (7 percent), the United States (7 percent) and Romania (6 percent).

Ukraine's SpetsTechnoExport is trying its hand at arming an unmanned ground vehicle, debuting its Fantom vehicle with an anti-tank missile system called Barrier, according to DefenseNews. SpetsTechnoExport is part of Ukraine's defense company Ukroboronprom.

For comments and news tips, please email UBJ AM editor David Edwards at david.edwards@theubj.com.

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