Business news from Ukraine

Business news from Ukraine

RATIO OF NUMBER OF UNEMPLOYED AND NUMBER OF JOB OPPORTUNITIES IN UKRAINE FROM DEC 2018 TO DEC 2019

Ratio of number of unemployed and number of job opportunities in Ukraine from Dec 2018 to Dec 2019

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U.S. DEPARTMENT OF AGRICULTURE IMPROVES FORECAST FOR UKRAINIAN CORN EXPORT IN 2019/2020

The U.S. Department of Agriculture (USDA) in February revised upwards the forecast for export of corn from Ukraine in the 2019/2020 agricultural year (July-June) by 0.5 million tonnes compared with the January forecast, to 31 million tonnes, and the corn harvest – by 0.3 million tonnes, to 35.8 million tonnes.
According to the February report posted on the USDA website, the forecast for production and export of Ukrainian wheat remained at the January level – 29 million tonnes and 20.5 million tonnes respectively.
USDA in February did not change the forecast for production and export of Ukrainian barley leaving it at 9.5 million tonnes and 5 million tonnes respectively.
In general, grain forecast for the 2019/2020a agri-year was revised upwards by 0.39 million tonnes, to 75.43 million tonnes and exports – by 0.53 million tonnes, to 56.6 million tonnes.

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UKRAINE INCREASES REVENUE FROM ELECTRICITY EXPORTS BY 36.4%

Ukraine in January 2020 increased revenue from electricity exports by 36.4% (by $11.204 million) compared to the same period in 2019, to $41.957 million.
According to the State Customs Service, last year electricity was supplied to Hungary for $22.676 million, Poland for $8.538 million, Romania for $7.692 million, and other countries for $3.051 million.
In addition, in January 2020, Ukraine imported electricity for $25.96 million, in particular for $12.713 million from Hungary, $7.919 million from Slovakia, $2.829 million from Belarus, and $2.499 million from other countries.

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UKRAINIAN BANKS POST THREE-FOLD RISE IN PROFIT IN 2019

According to tentative data, Ukrainian banks posted an almost three-fold rise in profit in 2019, reaching UAH 60 billion, First Deputy Governor of the National Bank of Ukraine (NBU) Kateryna Rozhkova has said.
“UAH 60 billion is profit of the banking sector in 2019, according to tentative data. Almost three times more than a year ago. A new historic record,” she wrote on her Facebook page on Thursday.

UKRAINE CUTS IMPORTS OF PETROLEUM PRODUCTS

Ukraine in January 2020 imported 596,336 tonnes of petroleum products (according to foreign trade activity code 2710, petrol, diesel fuel, fuel oil, jet fuel, etc.), which is 13.4% less than in the same period of 2019.
According to the State Fiscal Service, petroleum products were imported in the amount of $371.751 million, which is 12.6% less than in January 2019.
Fuel imports from Russia amounted to $147.083 million (a share of 39.56%), Belarus to $135.742 million (36.51%), Lithuania to $50.011 million (13.45%), from other countries to $38.915 million (10.47%).
In addition, in January 2020, Ukraine exported 27,223 tonnes (46.5% less compared to January 2019) of petroleum products for a total amount of $15.698 million (23.5% less). The cost of fuel delivered to contractors from Latvia amounted to $3.781 million, Hungary some $2.09 million, Ireland some $1.24 million, and from other countries some $8.587 million.

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4G COMMUNICATION IN KYIV SUBWAY COULD BE LAUNCHED IN SET TERMS

The introduction of 4G communication in subway is the issue of the national scale, it is possible to implement the project in due time, according to participants in a meeting devoted to the launch of 4G communication in Kyiv’s subway held by the Kyiv City Council with representatives of the Kyiv City Administration, the Ministry of Digital Transformation, the Verkhovna Rada, municipal enterprises, mobile communications operators and Internet associations.
“The introduction of 4G communication in subway is a national issue. The law must be implemented. There are legal processes that must be followed. If we combine the efforts of all participants in this process, the project will be implemented within the announced time frame,” advisor to the Mayor of Kyiv Maksym Bakhmatov said.
According to him, now all important technical aspects have been agreed with the subway, and the operators have provided the required technical documentation.
“Operators have already imported the first consignments of special equipment for building a network into the country and are waiting for legal grounds to begin installation work in the subway. The full-fledged implementation of the investment project depends on making a decision by the Kyiv City Council on the fee for telecom access to municipal property,” Corporate & Regulatory Affairs Director at Kyivstar Oleksandr Kogut.
According to the plan, the launch of 4G communications at the first subway stations, namely Akademmistechko, Zhytomyrska, Sviatoshyn, Syrets, Dorohozhychi, Heroiv Dnipra, Minska and Obolon, is expected in March 2020. Until the beginning of 2021, high-speed mobile communications should work at all stations and tunnels of the Kyiv subway.

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