Ukraine

Business

Journal

8:49 AM Sunday, August 19, 2018
UBJ.am
UBJ.am Tuesday, June 5
Kherson company doing well in UK; Ukraine-US trade quadruples but problems loom; US Westinghouse to supply more nuclear fuel; Major port modernization plan announced.
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

Kherson region company finds niche in UK market.The Green Team Company located in the city of Kakhovka in Kherson region has boosted sales of peeled onions to the UK by 7.5 times in three years. Its Manager Natalia Karasevych says: "In 2015, the export volume [of peeled onions] was about 400 tons, and in 2017 - 3000 tons," she elaborated. The Green Team Company has recently also engaged in the production of niche crops - sweet potato and butternut pumpkin, Ukrinform reports.

UK company to create new IT platform for national depository system. The National Depository of Ukraine has signed a contract with the British company Percival Software Limited on the creation of new software for the depository system in the stock market, Ukrinform reports.

Naftogaz to test private local gas producers. Naftogaz will make a test purchase of natural gas from private Ukrainian gas producers in June, the company has announced. The purchase price of privately-produced natural gas in June 2018 will be UAH 6,900 UAH per thousand cubic metre (excluding VAT). Naftogaz currently buys the gas produced by its subsidiary PJSC Ukrgazvydobuvannya. In addition, gas is imported from Slovakia, Poland and Hungary. Gas from Russia has not been bought for more than two years, Ukrinform reports.

Ukraine-US trade quadruples in volume. The volume of bilateral trade and investments between Ukraine and the USA has quadrupled over the past year, President Petro Poroshenko has announced. He said it resulted from his visits to Washington last year at which he met with U.S. President Donald Trump, the secretary of commerce and the secretary of state, “and we agreed to dramatically increase cooperation with the United States,” Ukrinform reports.

Steel makers concerned about U.S. protective duties, and Turkey’s response. Ukrainian metallurgical enterprises have expressed concern about the impact on the world metal products markets in connection with the United States' introducing 25% duties on steel imports, in particular, from the EU. President of the Ukrmetalurgprom Association Oleksandr Kalenkov has told Interfax-Ukraine that the decision carries significant risks for Ukrainian steel products. "If steel supplies to the USA from Ukraine make up 1.3%, then to the EU they are more than 30%,” he said. Turkey has also announced protective measures in response to the actions by the USA.The markets of the EU and Turkey are a priority for the supply of Ukrainian steel products. "More than half of the total exports of Ukrainian steel products, worth over USD 5 billion fall could be affected.”

Prime minister says will resign if parliament fails to vote for anti-corruption court."I, as the Prime Minister of Ukraine, have made a decision: if such an independent court is not created, I will step down from office of the Prime Minister of Ukraine," Volodymyr Groysman has told parliamentarians. "I am deeply convinced that this issue is crucial," he explained.Parliament has already begun considering the relevant bill in its second reading and was expected to have voted on it last week. The issue is not just the creation of such a court, but to ensure that it is truly independent and effective and hence it has become very politicized, Ukrainian and foreign media report.

China expects Ukraine to increase honey and soyabeans exports. Secretary-General of the China Overseas Development Association He Zhenwei has told entrepreneurs in Kherson that China has decided to increase imports of these products and that Ukraine could profit from this opportunity.China annually imports, for example, 95 million tons of soybeans, including 32 million tons from the US. "And a mere trifle [of soybeans] from Ukraine," he said, noting that China views Ukraine as a significant producer of quality soybeans. Ukraine also makes good honey, he added, particularly in Kherson region, and the Chinese market is available for it, he added, Ukrinform reports.

Energoatom plans to utilize US Westinghouse fuel from 2019. The National Nuclear Generating Company Energoatom intends to use Westinghouse fuel in four reactors of the Zaporizhia nuclear power plant (NPP) in 2019-2021, the press service of the company reports. Thus, the first, third, fourth and fifth reactors of the NPP will rely on U.S. nuclear fuel, while the second and sixth reactors will continue for the time being to be operated using Russian nuclear fuel, Interfax-Ukraine reports.

Ukraine plans major port infrastructure modernization worth USD 1.68 billion. This was announced by Deputy Prime Minister Volodymyr Kistion at the Ukrainian Ports Forum 2018 in Odessa, Xinhua has reported. Ukraine's maritime industry includes 14 ports on the Black Sea and the Sea of Azov, which together handle some 130 million tonnes of cargo annually. The modernization plan consists of 46 projects in various ports up to the year 2030, with a total cost of over USD 1 billion. aid the projects envisage the development of new transshipment capacities, including the construction of new berths and cargo handling terminals. 5,000 additional jobs will be created and would allow boosting the throughput capacity of the ports to 157 million tons of cargo.

President launches the start-up complex of grain terminal in Yuzhny, Odesa region. Speaking at the ceremony, he said: "This terminal is not only the largest investment project of the country for the last two years, it is also an example of public-private partnership.” The joint project has involved iM.V. Cargo LLC, Cargill, the EBRD, the International Finance Corporation and the state (the Infrastructure Ministry had been responsible for the dredging). "It will greatly increase the competitiveness of the Ukrainian agrarian sector and will make investments in Ukraine, in any sphere, in port infrastructure, in mechanical engineering, in shipbuilding even more attractive," he said, Ukrainian news agencies reported.
We recommend
Uklon taxi’s into Africa; Solar cools; 44 gas fiel...
Editor Jul 27, 2018
Ukraine and US join forces against Nord Stream 2;...
Editor Jul 26, 2018
Ukraine close to finalizing IMF deal; Trade with I...
Editor Jul 25, 2018
--> --> -->