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9:21 AM Wednesday, November 22, 2017
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UBJ AM News: March 30, 2017
Ukraine loses its case in a British court, solar energy projects make the Kherson region hot for investment, and Westinghouse pledges to remain a steadfast partner in Ukraine.
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 Cabinet approved a new plan to reform the State Fiscal Service, multiple sources reported. Reforms will be implemented in key areas including organizational structure, IT, human resources, worker pay and benefits and transparency of the service's dealings. Prime Minister Volodomyr Groysman said international partners helped formulate the reform plan, and he wants a tax collection service that fosters a healthy business climate in Ukraine.

London's High Court ruled in favor of Russia in a dispute over a $3 billion bond payment that Ukraine missed because of the upheavals that followed the Maidan revolution and Russia's annexation of Crimea. The British court decided that the case should not go to a full trial. Ukraine said it will appeal the verdict.

State-owned Oschadbank obtained $8 million in credit from the German-Ukrainian Fund to finance micro, small and medium-sized businesses, Interfax Ukraine reported. The money will go to businesses in the production, agricultural, energy and service sectors. The German-Ukrainian Fund's programs aim to create new jobs in Ukraine.

Westinghouse plans to maintain and expand its cooperation with Ukraine on supplying energy resources despite the company's bankruptcy declaration in the United States, Ukrinform reported. The filings “do not in any way impact the delivery of fuel and services to Ukraine today or in the future,” the company said in a statement, adding that its strategic partnership with Ukraine is expected to remain strong.

Solar energy projects are primed to deliver $250 million worth of investment this year to the Kherson region, according to Ukrinform. The head of the regional government said 250 megawatts of electricity generation capacity will be added in 2017, and that in turn will bring the estimated amount of investment.

In January, Ukraine's exports of ferroalloys rose 35 percent year on year the State Statistics Service and Platts reported. Also, revenue from ferroalloy exports shot up from $43.7 million to $79 million, an 81 percent increase.

The IMF has yet again indefinitely postponed consideration of Ukraine's latest tranche of financial assistance, according to various sources. That topic is not listed on the agenda of the executive board's April 7 meeting.

Russia's Federation Council on Wednesday endorsed a bill prohibiting money transfers from the Russian Federation to Ukraine via international payment systems, according to Unian, citing a report by Russian information portal Prime. The ban is slated to take effect 30 days after the official announcement is published.

Ukraine confirmed African swine fever outbreaks in the Vinnytsia, Zaporizhia, Ivano-Frankivsk and Kyiv regions, according to Interfax Ukraine.

Ukroboronprom denied reports that a contract it had with Thailand to supply armored vehicles had fallen through, Unian reported. The company said talks with the Thai negotiators are underway and a decision will come later. According to reports in the Ukrainian media, the country had lost Thailand as its main buyer of armored vehicles when Thailand signed a deal with a Chinese company.

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

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