Business news from Ukraine

UKRAINE AND ISRAEL SEEK TO BOOST GOODS FLOW TO $2 BLN A YEAR IN FIVE YEARS

Ukraine and Israel seek to boost goods flow in the coming five years to $2 billion a year, while last year the figure grew by 14.7% compared with 2016, reaching $772.5 million, Ukraine’s First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv has said. “I met with Israeli Minister of the Economy and Industry Eli Cohen and agreed to increase the trade flow to $ 2 billion in the next five years,” he wrote on his Facebook page.
According to him, the countries also intend to develop cooperation in the field of innovation and high technologies.
Kubiv also recalled that Ukraine and Israel intend to sign a free trade agreement by the end of this year.

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STATE-OWNED ENERGOMARKET SEES 3.1-FOLD RISE IN NET PROFIT

State-owned enterprise (SOE) Energomarket (Kyiv) in January-June 2018 saw a 3.1-fold rise in net profit year-over-year, to UAH 1.805 billion. The company reported in the information disclosure system of the National Commission for Securities and the Stock Market, its net revenue in H1 2018 grew by 18.9%, to UAH 85.423 billion, and gross profit doubled, to UAH 1.711 billion.
As reported, in 2017, the enterprise cut net profit by 33.3%, to UAH 856.261 million, boosting net revenue by 11.6%, to UAH 146.209 billion.
SOE Energomarket fulfils functions of the operator of the wholesale electricity market of Ukraine.