Business news from Ukraine

Business news from Ukraine

DONETSK SHAKHTAR BEATS BENFICA

Shakhtar Donetsk FC has defeated the Portuguese Benfica with a score 2:1 at home in the first match of the 1/16 finals of the UEFA Europa League.
In the first half of the match in Kharkiv, the teams did not score goals. At the 56th minute, the score in this meeting was opened by the Shakhtar’s Brazilian midfielder Alan Patrick. Ten minutes later, the guests gave away a penalty, which was implemented by Pizzi. And at the 72nd minute, Viktor Kovalenko scored the second goal, which eventually brought Shakhtar a victory.
The second match will be played in Lisbon on February 27.

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UKRAINIAN CHAMBER OF COMMERCE AND INDUSTRY PROPOSES ICAC AS MAIN PLATFORM FOR SETTLING INVESTMENT DISPUTES

The International Commercial Arbitration Court (ICAC) at the Chamber of Commerce and Industry (CCI) of Ukraine could play a role of the main platform for hearing investment disputes, President of the Chamber of Commerce and Industry Hennadiy Chyzhykov said at the LevelUp Ukraine Forum 2020 in Kyiv on Friday.
“Today, the decisions of the Ukrainian arbitration court are recognized and implemented in 110 countries. We have informed the government that over 25 years of work, the arbitration court has become one of the most respected in Europe,” he said.
Chyzhykov said that over the past five years, ICAC at the CCI of Ukraine has examined about 3,000 cases, which roughly corresponds to the number of cases considered by the London Arbitration for the same time.
The ICAC at the CCI is headed by Mykola Selivon, Head of the Constitutional Court of Ukraine in 2002-2005. According to the court, decisions in 65% of cases are taken within three months. More than 120 arbitrators from 35 countries are involved in cases, 60% of lawyers are specialists from other countries.
As reported, earlier this year at the World Economic Forum, President of Ukraine Volodymyr Zelensky said that an international arbitration court for investors would be created in Ukraine.

T.B.FRUIT GROUP OF COMPANIES PLANS TO BUILD DISTILLERY IN WESTERN UKRAINE

T.B.Fruit group of companies, the largest fruit and berry processor in Ukraine, is considering the possibility of building its own factory for the production of industrial alcohol in Lviv region, founder of T.B.Fruit Taras Barschovsky has said.
“We are talking about industrial alcohol from wastewater that goes to wastewater treatment plants for production of pectin,” he told Interfax-Ukraine.
Barschovsky specified that investment in the plant could be about $800,000.
T.B.Fruit is a vertically integrated international group of companies with a closed production cycle (growing raw materials, processing, transportation).
The total capacity of T.B.Fruit processing plants is 1.2 million tonnes of concentrated juice per year.
T.B.Fruit in 2019 occupied 10% of the world juice market. With the launch of a plant in Poland in August 2020, the figure could reach 12-14%.

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NYVA BILA TO BUILD ELEVATOR IN UKRAINE

Nyva Bila LLC (Ternopil region) plans to invest $4.7 million in the construction of an elevator in Chortkiv (Ternopil region), according to the website of Chortkiv City Council.
According to the report, the capacity of the elevator will be 40,000 tonnes of grain. It is planned to build it in 2021–2022.
The structure of the elevator will also include a granary with equipment for drying and storing grain.
“Investors need a land plot with an approximate area of 8 hectares within the Chortkiv territorial community. The territory of the Chortkiv-West industrial park is one of the likely places which investors can enter,” the report said.
According to the unified state register of legal entities and individual entrepreneurs, the ultimate beneficiaries of Nyva Bila LLC are Karel Ole Van Der Vorm and Martinus Van Der Vorm, the founders indicate Southberg Holdings LLC (Kyiv).

MAYOR: KYIV WILL BUY 273 MODERN BUSES

Kyiv in 2020 will buy 273 modern buses, the press service of Kyiv City State Administration has reported, with reference to Kyiv Mayor Vitali Klitschko.
“This year we plan to purchase 273 modern buses. We are constantly updating the capital’s public transport park. Over the past few years, we have bought almost 300 units of public transport. These are modern and comfortable buses, trams and trolleybuses,” Klitschko said on the air of the Ukraine 24 TV Channel.
According to him, the capital is developing a new public transport scheme, which will take into account the possibility of convenient transfers from one type of transport to another. Thus, public transport, in particular, will crowd out minibuses and private buses from the city center.
“This is the practice of megacities around the world. In big cities, to get to the center, you have to pay a lot of money, especially for parking. Therefore, many people in the West use public transport. This positively influences traffic and the environmental situation in city,” Klitschko said.

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UKRAINE EXPORTS 39 MLN TONNES OF GRAIN

Ukraine since the beginning of the 2019/2020 agricultural year (July-June) as of February 20, 2020 had exported 38.99 million tonnes of grains and leguminous crops, which is 7.9 million tonnes more than a year ago.
According to the information and analytical portal of the agro-industrial complex of Ukraine, the country has exported 16.26 million tonnes of wheat, 18.26 million tonnes of corn, and 3.98 million tonnes of barley.
As of February 20 of this year, 246,000 tonnes of flour had been also exported.
As reported, Ukraine in the 2018/2019 agri-year exported a record 50.4 million tonnes of grain, legumes and flour, which is 23% more than in the previous agri-year.

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