Ukraine

Business

Journal

16:21 PM Thursday, April 19, 2018
UBJ.am
UBJ AM July 31, 2017
Free trade with Canada starts tomorrow; Ukr. budget revenues up 46 percent; China invests $50 million Ukraine’s Danube Shipping Co.; ‘Sin taxes’ – on cigarettes and alcohol – go up 11% Jan. 1
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’s free trade agreement with Canada takes effect tomorrow, August 1. It will cancel 98% of tariffs for Ukrainian exports to Canada and 72% of tariffs for Canada’s exports to Ukraine.

• Ukraine’s budget revenues were up 46% in the first half of this year, compared to last year, according to the State Treasury. The revenue increase can be attributed to increases in dividends from Naftogaz and increases in personal income tax collection.

• A tender to sell the state-owned Odessa Port-Side plant, a chemical production factory, could take up to six months, according to the State Property Fund. The tender for state-owned Centrenergo will likely take one year to list.

• Ukraine’s State Property Fund will prepare to sell a state-owned stake in the Odessa combined heat and power plant. This was originally approved for privatization in April 2013.

• The National Bank of Ukraine is refusing to approve the sale of the Ukrainian subsidiaries of two Russian banks that had been put up for sale after Kiev imposed sanctions on Moscow, Reuters reports.

• Belorusneft and Romanian-owned Tacrom have won a tender via ProZorro for 40 fracking operations previously operated by Ukrgazvydobuvannia.

• A bill has been registered by the Cabinet of Ministers to raise alcohol and tobacco taxes by 11.2% in Ukraine starting Jan. 1. This is part of worldwide effort of the World Health Organization to cut smoking by raising taxes.

• International energy trader AOT Energy has opened an office in Ukraine. AOT has been selling gas to Ukrainian gas traders through its Polish company AOT Energy Poland since June 2016, RBK reports.

• The Chinese government has pledged $50 million to rebuild the Danube Shipping Company’s fleet of tugs and barges, and for the construction of new ships. The company is based in Izmail, Ukraine’s largest Danube river port, in the Bessarabia region of western Odesa oblast.

• Poland is joining the United Nations Development Program to fund a $500,000 to create new jobs in the Kyiv-controlled areas of Luhansk and Donetsk oblasts.


For comments or story tips, please email UBJ AM News Reporter Mark Satter at marksatter@theubj.com

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