Business news from Ukraine

3.5 MLN UKRAINIANS CHOOSE FAMILY DOCTOR

Over 3.5 million Ukrainians have already chosen a family doctor, the Ukrainian Health Ministry’s press service has reported. A report posted on the official website of the electronic health system says that 3,643,778 people have already chosen a family doctor as of 21:00 on Friday, May 11. Patients selected a doctor from more than 20,000 specialists registered in the electronic health system.
The greatest number of declarations with doctors was signed in Kharkiv region – 404,500, in the city of Kyiv – 326,020, in Vinnytsia region – 298,754, in Dnipropetrovsk region – 282,835, and in Donetsk region – 267,681.

IT WILL BE NECESSARY TO CREATE INFRASTRUCTURE FOR VACCINE PRODUCTION IN UKRAINE ‘FROM SCRATCH’ – BORSCHAHIVSKY PHARMACEUTICAL PLANT

It will be necessary to create infrastructure for vaccine production in Ukraine from scratch, while the state support program could contribute to this, Commercial Director of PJSC Borschahivsky Chemical and Pharmaceutical Plant Yevhen Sova believes. “Today it will be necessary to create infrastructure for vaccine production in Ukraine virtually from scratch. This is quite a long process, because we are talking about the construction of new workshops, the launch of additional production lines, passage of audits and confirmation of quality according to the standards,” he told Interfax-Ukraine.
At the same time, the expert noted that “Ukrainian pharmaceutical manufacturers can implement this.” “The technical equipment of domestic companies as a whole allows building new necessary infrastructure, paying special attention to the sites of quality control,” he said.
According to the expert, the state support program can become an impetus for domestic pharmaceutical producers and a signal for starting work on the organization of such production. “Such a program will contribute to the process as much as possible. It can include public-private partnership, tax-exempt status, simplified inspection procedures and other options, including subsidies,” he said.

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NATIONAL BANK CONFIRMS 2018 INFLATION FORECAST AT 8.9% IN APRIL

The National Bank of Ukraine (NBU) confirmed the forecast for 2018 inflation at 8.9% in April. “According to the estimates of the National Bank, the deviation of the actual inflation in April from the forecast is insignificant and can be leveled out in the following months. In addition, the monetary conditions are still tough enough to ensure a gradual decline in consumer inflation in accordance with the forecast of the National Bank (8.9% year-on-year at the end of 2018) and its return to the target range in mid-2019,” the NBU reported.
According to the State Statistics Service, in April consumer inflation continued slowing down for the third consecutive month and amounted to 13.1% year-on-year (compared to 13.2% in March). Inflation in monthly terms decreased from 1.1% in March to 0.8% in April.
“Although the National Bank expected inflation to decline year-on-year, its April figure slightly exceeded the forecast published in the Inflation Report for April 2018, mainly due to the influence of the most volatile components,” the National Bank said in a statement.
The National Bank at the end of October last year worsened the inflation forecast for 2018 from 6% to 7.3%, in January this year to 8.9%, while the Cabinet of Ministers from 7% to 9%.
The NBU, to curb price increases, from March 2 raised the refinancing rate to 17% from 16%.

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USAID TO PROVIDE TO UKRAINE $125 MLN AS ADDITIONAL ASSISTANCE

The U.S. Agency for International Development (USAID) will provide additional assistance in the amount of $125 million for Donbas and adjacent territories that felt the influence of Russian aggression.
“This additional technical assistance will be aimed at ensuring further stabilization and consolidation of Ukrainian communities in the region, increasing the resilience of the local economy and accelerating its development,” reads a report posted on USAID Ukraine’s page on Facebook.
It notes that the announcement on the provision of $125 million will be made during a joint press conference on Tuesday, May 15, by Assistant Administrator of the USAID’s Bureau for Europe and Eurasia Brock Bierman, U.S. Representative for Ukraine Negotiations Kurt Volker and U.S. Ambassador to Ukraine Marie Yovanovitch. The press conference will be held in Sloviansk (Donetsk region).
As reported, Volker will arrive in Ukraine on Monday.
“I’m heading to eastern Ukraine next week to see more about the situation on the ground and to learn about the humanitarian crisis in the Donbas,” Volker wrote on Twitter.

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TAS INSURER WILL PAY UAH 44 MLN OF DIVIDENDS

TAS Insurance Company (Kyiv) will pay UAH 44.7 million in dividends for 2017.
This decision was made at a shareholders’ meeting on April 30.
Dividends will be paid within six months from the date of making the decision. Payment will be made in three tranches: UAH 15.789 million, UAH 15.789 million, and UAH 13.138 million.
As reported, the retained earnings of TAS for the past year amounted to UAH 47.01 million, of which UAH 2.353 million will be used to replenish reserves, and UAH 44.7 million to pay dividends.
As reported, the company in 2016 paid UAH 16.845 million in dividends, in 2015 some UAH 10 million.
The ultimate beneficiary of TAS Insurance Company is ex-Deputy Prime Minister Sergiy Tigipko, the founder of TAS Group, which includes TAS Insurance Company and TAS Insurance Group.
PrJSC TAS Insurance Company has been operating in the Ukrainian market since 2000. It specializes in life insurance.
The charter capital of the insurer is UAH 93.322 million.

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UKRAINE AND SLOVENIA SIGN MEMOS OF COOPERATION IN ECONOMIC SPHERES

Representatives of Ukraine and Slovenia have signed two memorandums: the memorandum of understanding to strengthen economic cooperation and the memorandum of understanding in technical cooperation in the sphere of geodesy.
An Interfax-Ukraine correspondent has reported that after Ukrainian-Slovakian negotiations chaired by Ukrainian President Petro Poroshenko and Slovenian President Borut Pahor on Friday in Kyiv representatives of the delegations of the two countries signed the memorandum of understanding between the Economic Development and Trade Ministry of Ukraine and the Economic Development and Technologies Ministry of Slovenia on deepening economic cooperation.
The sides also signed the memorandum of cooperation and scientific and technical cooperation between the State Service of Ukraine for Geodesy, Cartography and Cadastre and the similar service of Slovenia.

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