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1:40 AM Friday, July 28, 2017
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UBJ AM News: March 14, 2017
Coal, Canada and China highlight the latest happenings.
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 imported 2.5 million tons of coal and anthracite worth $358 million in January and February. According to the State Fiscal Service, Russia supplied 69 percent of the total imports, the United States supplied 18 percent, Kazakhstan supplied 6 percent, and other countries combined accounted for 7 percent.

The Economic Development Ministry has drafted a proposal identifying 26 regulations that it says are hampering entrepreneurship in the country, Ukrinform reported. The ministry report advocates that 23 of the regulations be revoked and the other three revised to mesh with current law.

Canada’s Fairfax Financial Holdings Ltd upped its stake in Ukrainian agricultural firm Astarta by 10 percent, Interfax Ukraine reported. Fairfax purchased nearly 2.5 million shares of Astarta for $37 million.

Lviv is drawing strong interest in an assortment of spheres from two government-run Chinese companies, Ukrinform reported. In a wide-ranging discussion, the Chinese side expressed willingness to build a solid waste treatment plant in the Lviv region as well as roads and heating plants. In addition, China would like to explore possibilities for modernizing mines in the region, investing in its agricultural sector and spurring tourist flow from China to Lviv.

Hungarian budget carrier Wizz Air will add four new destinations this summer to its service in Ukraine, two in Germany and two in Poland, according to Interfax Ukraine. Starting June 18, Wizz will offer flights between Lviv and Berlin. In August, service will begin on routes between Kyiv and Poznan, Lublin and Frankfurt.

Ukrtatnafta plans to ramp up oil refining between 35 and 50 percent this year at its Kremenchuk refinery in the Poltava region, Interfax Ukraine reported. That target would put the threshold as high as 3.3 million tons.

Elon Musk, the face of Tesla Motors, had an encouraging Twitter exchange with Prime Minister Volodomyr Groysman regarding the possibility of Ukraine’s involvement in Tesla technology for battery energy storage. Groysman tweeted, “Ukraine is eager to become a test site for innovation. Let’s talk it over in detail.”

Ukraine and Iran are moving ahead on a memorandum of understanding for cooperation between ports. Port authorities in both countries will sign the deal in the near future, according to Interfax Ukraine. Ukrainian businesses were also invited to undertake transportation infrastructure projects in Iran.

Kyiv Mayor Vitali Klitschko will represent the city at the MIPIM international real estate exhibition in Cannes, France, which begins today and runs through Thursday. He will participate in the awards ceremony for the Global Cities of the Future contest sponsored by Foreign Direct Investment magazine. Klitschko is also scheduled to meet with various government leaders and figures representing major international companies.

Romanian insurance company Asito Kapital is looking to sell 99 percent of its shares in a Ukrainian counterpart, Kyiv-based Star-Polis, multiple sources reported. Bids will be accepted until April 30.

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

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