Business news from Ukraine

PRESIDENT POROSHENKO PLANS TO VISIT KUWAIT AND QATAR ON MARCH 18-20

President of Ukraine Petro Poroshenko will pay a state visit to Kuwait on March 18-19 and Qatar on March 19-20, the presidential press service has reported.
The program of visit to Kuwait envisages Poroshenko’s negotiations with Kuwait Amir Sabah al-Ahmad al-Jabir al-Sabah, Prime Minister of Kuwait Jabir al-Mubarak al-Hamad al-Sabah, Speaker of the National Assembly of Kuwait Marzouq Ali al-Ghanim, as well as Deputy Prime Minister, Foreign Minister Sabah al-Khalid al-Hamad al-Sabah.
In addition, the president will meet with the leadership of the leading investment funds in Kuwait.
“Within the framework of the visit, it is planned to discuss a wide range of issues of Ukrainian-Kuwaiti cooperation in trade and economic, military and technical, investment and humanitarian spheres. A number of bilateral documents are to be signed,” the press service said.
On March 19-20 Poroshenko will pay an official visit to Qatar, where he will hold negotiations with Amir of Qatar Tamim bin Hamad Al Thani and Prime Minister and Interior Minister Abdallah bin Nasir bin Khalifa Al Thani. The president is also expected to attend the opening of the international agricultural exhibition Qatar International Agricultural Exhibition 2018.
Within the framework of the visit, it is planned to discuss a wide range of issues of Ukrainian-Qatari cooperation in trade and economic, investment, energy, agriculture and other spheres. A number of bilateral documents are to be signed.

NATIONAL ANTI-CORRUPTION BUREAU MOST OFTEN APPLIES TO LATVIA, AUSTRIA, UK, SWITZERLAND, CYPRUS ON CASES OF CORRUPTION

The National Anti-Corruption Bureau of Ukraine (NABU) has sent 300 inquiries to 57 countries of the world on the affairs of Ukrainian top corrupt officials in the framework of cooperation with the European Organization for Justice (Eurojust), which began in 2016. The NABU press service said 130 of the 300 requests have been fulfilled.
Latvia, Cyprus, Austria, the United Kingdom and Switzerland are leading among the countries where “Ukrainian corrupt officials left their mark, and to the competent authorities of which the NABU applied most often,” the report says.
Officers from the international legal department of the NABU on March 14-15 visited Eurojust in The Hague (the Netherlands) at the invitation of the host country. Within the framework of the visit, the parties discussed the issues of mutual legal assistance in criminal proceedings. They discussed the application of the provisions of the European Convention on Mutual Assistance in Criminal Matters of 1959, the Second Additional Protocol to the European Convention on Mutual Assistance in Criminal Matters of 2001, as well as the peculiarities of bilateral interaction with national representatives of the states, with which the NABU cooperates more often.

NATIONAL BANK OF UKRAINE PRESENTS SEVEN STRATEGIC GOALS FOR MEDIUM TERM

The National Bank of Ukraine (NBU) has presented seven strategic goals for the medium term. “In the next three years we will focus on the following objectives: low and stable inflation, a stable, transparent and efficient banking system, the resumption of lending, efficient regulation of the financial sector, free flow of capital, financial inclusion, and a modern, open, independent and effective central bank,” the newly appointed governor of the central bank, Yakiv Smolii, said, when introducing the document in Kyiv.
According to the document, six out of the seven goals are external and aim at meeting needs of the financial ecosystem participants. At the same time, the banker said institutional capacity of the central bank is one of their prerequisites. That is why the seventh, internal goal of the NBU is to become a modern, open, independent, and effective central bank. “At present we have a strong foundation to develop the financial system. For the last two years Ukrainian banks won back the public confidence. The NBU has a clear vision and program, i.e. we will continue to devote our efforts in ensuring price and financial stability, and together with the financial sector foster the economic growth,” Smolii added.

PFTS INDEX RISES


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The official exchange rate set for March 15, 2018 was UAH 26.013978per U.S. dollar and that for March 16, 2018 was UAH 26.272654per U.S. dollar.

GOVERNMENT DISTRIBUTES UAH 4.7 BLN FROM CONFISCATION IN 2018

The Cabinet of Ministers of Ukraine has approved the procedure of distributing confiscated funds and funds received from the sale of property confiscated under a court decision for corrupt offenses between the authorities in 2018. “The distribution of confiscated funds in the amount of UAH 4.7 billion will be carried out by the Treasury Service weekly as soon as the funds are accumulated between the budget programs of fund managers in proportion to the figures approved in the national budget of Ukraine for 2018,” the Cabinet of Ministers said.
In particular, the distribution of funds will be made in the following proportion: the Interior Ministry will get 14.99% under the program “Creating a unified aviation security and protection system,” the Ministry of Regional Development, Construction, Housing and Utilities Services some 42.55% on the program “State Fund for Regional Development,” Ukravtodor some 17.02% under the program “Improvement of the state of road H-31 Dnipro-Tsarychanka-Kobeliaky-Reshetylivka,” 17.02% under the project “Improving the state of the Kharkiv-Okhtyrka highway” and 8.51% under the program “Improving the state of the Zhytomyr-Chernivtsi road.”

LVIV CONSTRUCTION COMPANY ENTERS KYIV RESIDENTIAL MARKET WITH COMPLEX PROJECT

The Greenville Group (Lviv), investing in housing construction, has entered the market of Kyiv with the Greenville Park residential complex project to be jointly developed with private joint-stock company NEST at 21, Pymonenko Street in Shevchenkivsky District of Kyiv. “Greenville Park residential complex is a logical continuation of the development of the residential district where the Pokrovsky Posad residential complex is located,” Orest Sarakhman, the head of the Greenville Park project, said at a press conference at Interfax-Ukraine on Thursday.
According to him, Greenville Park will be joined to the Pokrovsky Posad in a single space with the help of a bridge crossing. Thus, residents of each residential complex will have access to the fenced infrastructure of both residential complexes.
According to the project, Greenville Park residential complex is two 26-storey business-class buildings with 664 apartments. The building area is 3 hectares. The announced deadline for commissioning the first of the two buildings is the third quarter of 2019.
Infrastructure residential complex provides parking for 700 cars with charging stations for electric vehicles, 0.6 hectares of internal park, two kindergartens, primary school, sports and playgrounds. In addition, the complex will have business areas, a lobby bar and a lounge area on the roof.
Sarakhman said that Greenville Group plans further expansion in Kyiv. In particular, the company together with NEST came into another project, but the developers have not yet been disclosed the details.
In addition, Sarakhman told Interfax-Ukraine that in the near future another large project is planned in the northern part of Lviv.
According to information of the Kyiv City Administration concerning the lease of land parcels, the tenant of the land for the construction of Greenville Park residential complex is PJSC ABS-Ukr.
According to the information base of the National Commission for Securities and the Stock Market, 22% of the company belongs to companies from the Greenville group. The head of the company is Sarakhman. The owner of another 18% is Capital Group asset management company LLC.
According to the documentation on the official website of the residential complex, the project’s general contractor is private enterprise Remservis (Kyiv) owned by Capital Group asset management company LLC.
The Greenville Group was established in 2007. It is engaged in joint investment in construction projects taking into account “green” technologies and invests in renewable energy projects.
PrJSC NEST (Kyiv) has been operating in the real estate market since 1997.