23:18 PM Thursday, October 18, 2018 Wednesday, May 9
Kyiv Pharmaceutical Plant expanding; Danes investing in western Ukraine; Polish company to provide trams for Kyiv; Metallurgy, arms, industries flourishing; IBAN and BIC to be obligatory.
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Kyiv pharmaceutical plant confident about its prospects. The Borschahivsky Chemical and Pharmaceutical Plant (Kyiv) has begun exporting its products to Australia, Estonia and Portugal, its press service reports. One of the top national pharmaceutical manufacturers, the plant’s products are currently exported to 19 countries, including Lithuania, Latvia, and the CIS countries. “In 2017 the company exported products worth UAH 152.3 million, which is 37% more than in the previous year,” according to Interfax Ukraine. It intends to expand to broaden the range of veterinary drugs and biologically active additives it produces.

Danes investing in meat processing plant in western Ukraine.Danish-supported Goodvalley Ukraine (Ivano-Frankivsk region) will build a meat processing plant in Viktorivka, Halych district, Ivano-Frankivsk region. According to the Halych District Administration, an agreement to this effect has been signed after several years of competition within the region over the location for this investment, Interfax-Ukraine reports.

Kyiv modernizing its trams with Polish company’s help. Kyiv is buying 40 trams from Poland’s Pesa Company and seven from Electron in Lviv, the capital’s mayor Vitaliy Klitshko has announced. 400 trams are used in Kyiv, and 90% of them are more than 30 years old, he elaborated. The tram fleet has not been upgraded for at least 30 years. "We need to buy 165 more new trams, over 230 buses and 230 trolleybuses to fully upgrade the fleet.” The new trams, he said, will be” high-tech low-deck European transport with air conditioners, video surveillance and wi-fi.”

Metallurgy accounted for almost a quarter of exports in Q1.Metallurgy accounted for 22.57% of Ukraine's total exports during Q1, earning $3.488 billion from ferrous metal exports. This was an increase of 32.2% y-o-y, according to Ukraine's State Fiscal Service. Metal ware export grew by 34%, to $351.4 million, accounting for 2.27% of the country's total exports. But imports of ferrous metals increased by 32.3% to $385.3 million, while shipments of metal ware from abroad grew by 18.2%, to $267.8 million. In 2017 revenue from exports of ferrous metals rose by 19.6% to $8.7 billion, and earnings from metal ware exports by 30% up to $896.7 million, UNIAN reports.

Ukraine's major arms exporter boosts profit by 69% in Q1.The state-owned company Ukrspecexport, Ukraine's main exporter of military weapons and equipment (up to 85% of all military-technical cooperation), increased its net profit in the first quarter of 2018 (y-o-y) to UAH 64.34 million ($2.4 million) from UAH 38 million (US$1.4 million). Net income from sales of products totaled UAH 364.1 million ($13.8 million) y-o-y, which was 7.85% up from UAH 337.6 million ($12.8 million) y-o-y, according to UNIAN. Ukrspecexport increased its net profit by 1.33 times in 2017 to UAH 144 million ($5.5 million) from UAH 108 million ($4.1 million).

12% fall in sugar exports in April. Sugar exports in April 2018 fell from March 2018, to 41,800 tonnes. But the geography of the exports did not change, UNIAN reports. Uzbekistan accounted for 55% of the shipments, Great Britain, 12%; Azerbaijan, 6%, and Moldova, Libya and Turkey for about 15%. Sugar exports from the beginning of the current marketing year, beginning in September 2017, to April 2018 inclusive, totaled 379,900 tonnes. Between August 30, 2017 and August 2018 Ukrainian sugar factories produced 2.14 million tonnes of sugar, which was 6.5% higher than the previous season.

Imports of nickel ore grow slightly in Q1. They increased by 6.6% compared y- in 2017, to 458,917 tonnes. The main suppliers were Guatemala (60.81% of supplies in monetary terms), and Indonesia (39.19%).

Land prices in Ukraine may triple – World Bank. The World Bank predicts that land prices in Ukraine may triple to US$3,000-3,500 per hectare from the current $1,000-1,500 in case the moratorium on farmland sale is lifted, UNIAN reports. According to Bloomberg, Ukrainian landowners have Europe's lowest land rent rates, while the quality of the Ukrainian soil is one of the world's best. The moratorium on farmland sale in Ukraine has been extended until 2019.

NATO sees energy security of Ukraine as part of pan-European energy security. Andriy Kobolyev, Head of the Board of the National Joint-Stock Company Naftogaz of Ukraine, has discussed energy security with NATO officials in Brussels, Ukrainian media reported. He focused on the negative implications of the Nord Sream-2 project not only for Ukraine, but Europe as a whole, and apparently secured the understanding and support of Ukraine’s allies.

Ukrainian migrant workers in Poland provided UAH 86 billion in remittances in 2017, at the current NBU rate, Ukrinform reports. In 2016 the amount was UAH 64.7 billion.

Ukraine, Turkey to build an An-188 military transport aircraft.The two neighbours are planning a joint project to build an An-188 military transport aircraft, according to the Ukrainian government portal. “The military transport aircraft project involves the full westernization of all components, the introduction of modern and reliable technical solutions, as well as full compliance with NATO standards, both in terms of equipment and in terms of the tactics of the use of the aircraft," the report reads. The aircraft will be able to carry military hardware of all types, military and construction equipment, helicopters, up to 300 soldiers, as well as humanitarian cargoes, pallets and containers. Interfax-Ukraine reports.

Ukraine, Macedonia seeking to enhance trade and economic cooperation. Bilateral talks in recent days have focused on improving trade and economic cooperation and preparations for a forthcoming round of FTA talks, Ukrinform reports.

Use of the IBAN and BIC to become obligatory by 2020. The National Bank of Ukraine (NBU) and the Independent Association of Banks of Ukraine (NABU) have begun cooperating on the adoption by national banks of the International bank account number (IBAN) standard and Business identifier code (BIC), the central bank has announced. Their use will become mandatory in 2020, the NBU has told Interfax-Ukraine. Currently, six national banks have confirmed the availability of the IBAN for use in cross-border transfers: Ukreximbank, Raiffeisen Bank Aval, First Ukrainian International Bank (FUIB), International Investment Bank, Alfa Bank and ING Bank Ukraine (all based in Kyiv).
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