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UBJ AM News: March 2, 2017
The banking sector attracts attention yet again, businesses become a Donbas casualty, and the EBRD provides more help for a standout water filtration business.
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

Austrian prosecutors are investigating Meinl Bank amid reports that it was involved in a criminal racket to launder money from several Ukrainian banks and drive them into bankruptcy, Unian reported.

Prominvestbank and Russia's VEB held talks with Hungary's OTP Group, one of the potential buyers of the Ukrainian bank, a source close to the situation told Interfax-Ukraine on Tuesday. The source said investors in Ukraine are also interested in buying PIB.

The so-called Donetsk People's Republic's leader, Alexander Zakharchenko, said militants had seized roughly 40 Ukrainian businesses in the occupied Donbas, including Ukrtelecom.

Ukraine's GDP grew 5.1 percent in January, a marked improvement from the 1.6 percent decline the country saw in the same month the previous year, according to the Economic Development Ministry and Unian.

The European Bank for Reconstruction and Development is loaning $3 million to Ecosoft, a business in the Kyiv region that is the country's leading producer of water purification equipment, multiple sources reported. The money will help the company enhance water treatment for households and businesses in Ukraine. Ecosoft has been supported by the EBRD Small Business Impact Fund and now exports its filters to over 40 countries around the world.

JKX plans to invest $660 million to develop the Rudenkivske field, Interfax Ukraine reported. Financing will be a challenge for the company, however, as its development project in Ukraine is much bigger than its current market capitalization.

Real wages in January declined 8.3 percent from December, the State Statistics Service announced. However, compared with the same month last year, they rose 21 percent.

•>German exports to Ukraine rose 18 percent last year, following two consecutive years of decrease, multiple source reported.

Kyiv International Airport (Zhuliany) will close for 10 days for renovations, according to multiple sources.

The average bribe paid in Ukraine is about $1,350, as compared with an average monthly wage paid of approximately $150, Project Hromkadska discovered, according to a Novoe Vremya report.

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

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