Business news from Ukraine

Business news from Ukraine

UDP RENEWABLES LAUNCHES PORT SOLAR POWER PLANT IN ODESA REGION

UDP Renewables has launched the Port Solar solar power plant with a capacity of 8.6 MW in Izmail, Odesa region.
According to the press service of the company, more than 25,700 solar panels manufactured by Jinko Solar (the largest global manufacturer of solar panels) are installed on an area of 16 hectares. It is expected that the plant will generate about 11,800 MWh of electricity annually.
The co-investor in the facility is Slovakia’s E-Group, the general contractor is the Metropolia Group of Companies (Kyiv).
“Involving the experience of our partners, UFuture and UDP Renewables are working to ensure that energy production in Ukraine complies with the best global environmental safety and energy efficiency practices. Our goal is more than 300 MW by 2022. Now we are following the plan, gradually implementing projects in the regions with the highest solar activity – Odesa, Zaporizhia, Kherson and Mykolaiv regions,” the press service said, citing the founder of the UFuture investment group Vasyl Khmelnytsky.
The company also reported that Ukrainian-built equipment worth over UAH 44.5 million was used in the construction of this plant. The total amount of attracted investments amounted to EUR 6.75 million.
UDP Renewables is an investment and development company in the field of renewable energy. It is part of the UFuture investment group, which belongs to Khmelnytsky.
E-Group is part of the INDUSTRY investments sub-fund that invests in energy. It belongs to the portfolio of the qualified investors fund ZMJ SICAV.

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HORSE-TRICK ART FESTIVAL «CENTAURS» TO TAKE PLACE NEAR KIEV

On Oktober, 5 and 6 The Festival of Horse-Trick art «Centaurs» will take place in the «Kyivan Rus Park». In the program: the performances of the best horseback stuntmen of Ukraine with amazing tricks, horse trick riding competitions, demonstrative performances. And also the Ancient Kyiv theatre performances, interactive ancient Slavic amusements, horse riding, master-classes, dance flash mobs, museums and expositions, extreme attractions. In the evening – a bright fiery program with the shooting of fire balls from the Trebuchet. And all of these in a real, live, medieval city.
Ancient Kyiv opens at 10:00. The program starts at 14:00.
The ticket price: a full adult ticket – 250 UAH, for pensioners and students – 150 UAH, for schoolchildren – 80 UAH, for preschool children – for free.
Ancient Kyiv in the «Kyivan Rus Park» is located in Kyiv region, Obukhiv district, the vill. Kopachiv.
Route taxis leave from Kyiv from the «Vydybitchi» metro station.
Details on the website www.parkkyivrus.com

The Open4Business subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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UKRAINIAN PRESIDENT ZELENSKY MEETS WITH AMERICAN ACTOR TOM CRUISE IN KYIV

American actor Tom Cruise has arrived in Kyiv at the invitation of Ukrainian President Volodymyr Zelensky.
Zelensky met with Cruise in his office on September 30, according to the website of the President’s Office.
“During the meeting, Cruise told Zelensky that he was interested in Ukrainian locations for the filming of one of his new film projects. This was another reason to visit our country,” the website said.
Zelensky, in turn, told Cruise about his experience working in cinema.
He noted that recently the Ukrainian parliament passed a law on compensation to foreign producers who make films in Ukraine. Zelensky said the law law would make Ukraine attractive for to international filmmakers for investment.

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UKRAINE’S PARLIAMENT OPENS SPACE FOR PRIVATE COMPANIES

Ukraine’s parliament has adopted draft law No. 1071 on amending certain laws of Ukraine involving the development of activities in space and attracting investments to Ukraine’s space sector. The bill will allow private companies to engage in activities in space, including launching rockets into space. Some 308 members of parliament supported the adoption of the bill in its second reading and as a whole, including its technical and legal amendments, at a plenary session on Friday.
According to the explanatory note to the bill, the text of which was published on parliament’s website, the bill will ensure the creation of a competitive environment for the development of private property enterprises along with the public sector of the space industry, and will also help attract investment in Ukraine’s space industry.
According to the text of the document, the basic principles of space activities in Ukraine are: state support for the commercialization of space activities and attracting investments in Ukraine’s space industry, opening outer space for citizens and legal entities and the ability to freely explore and use outer space, including the use of outer space and the resources contained therein, with restrictions only when necessary to ensure compliance with national security interests.
The importance of promoting international cooperation, maintaining and developing existing international relations in the space industry, taking into account national interests, is also emphasized in the bill.
Under the new law, companies will not be required to apply for licenses to work in the space sector.
Currently, only state-owned companies can carry out activities related to testing, production and operation of space launch vehicles in Ukraine.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF OCTOBER 03

Official rates of banking metals from national bank as of October 03

One troy ounce=31.10 grams

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MACRO MONTHLY SUMMARY, MAIN STATISTICS OF UKRAINE IN AUGUST-SEPTEMBER, 2019

The growth of Ukraine’s gross domestic product (GDP) in April-June 2019 amounted to 4.6% compared to the same period in 2018, while in the first quarter the growth rate was lower and stood at 2.5%, according to preliminary data from the State Statistics Service, which confirmed its operational assessment dated mid-August this year. Fitch has said that after a strong Q2 2019 (4.6% year-over-year), Fitch projects 3.4% growth in 2019, reflecting strong domestic demand and exports driven by the agriculture sector (wheat harvest).
The deficit of Ukraine’s foreign trade in goods in January-July 2019 increased by 18.5% compared with January-July 2018, to $4.936 billion, the State Statistics Service has reported.
Actual inflation in August 2019 in Ukraine has approached the forecast of the National Bank of Ukraine (NBU) published in the inflation reform for July 2019, the regulator has reported on its website.
Consumer prices in Ukraine after falling in July 2019 by 0.6% in August fell by another 0.3%, and in annual terms inflation in August fell to 9% from 9.1% in July, the State Statistics Service of Ukraine has said.
The national budget of Ukraine in January-August 2019 posted a surplus of UAH 2.38 billion with the deficit of the general fund being UAH 4.12 billion, according to data on the website of the State Treasury Service.
Revenue of the national budget in August 2019 totaled UAH 87.6 billion, which is 6.9% less than in August 2019, and the outturn is 91%, according to data from the State Treasury Service of Ukraine.
Solvent Ukrainian banks in January-August 2019 received UAH 44.29 billion in net profit, which is 3.2 times more than in the same period in 2018, the National Bank of Ukraine (NBU) has said.
The consolidated profit of the National Bank of Ukraine (NBU) through January-June 2019 totaled UAH 6.4 billion, while its loss for the similar period of 2018 totaled UAH 1.1 billion, according to the first such kind of interim report posted by the central bank.
Ukraine’s international reserves in August 2019, according to preliminary data, rose by 0.8%, to $22.015 billion.
Industrial products (goods, services) worth UAH 1.485 trillion were sold in Ukraine in January-July 2019, which is 5.2% more than in January-July 2018 (UAH 1.411 trillion), in particular abroad for UAH 406.371 billion, the State Statistics Service has said.
Industrial prices in Ukraine in August 2019 decreased 0.7% after rising in July by 3.6% and falling by 2.7% in June, the State Statistics Service has said.
Sugar production in Ukraine as of September 24, 2019 amounted to 121,500 tonnes.
The transport enterprises of Ukraine in January-August 2019 increased freight transportation by 8.1% compared to the same period of 2018, to 442.9 million tonnes, the country’s State Statistics Service has said. The transport companies of Ukraine in January-August 2019 carried 2.808 billion people, which was 5.9% down year-over-year (y-o-y), the country’s State Statistics Service has reported.
The volume of construction work in Ukraine in August 2019 increased by 8.9% compared to August 2018, while in July 2019 from July 2018 this figure rose by 14.5%.
Retail trade in Ukraine in January-August 2019 increased by 9.9% in comparable prices compared with January-August 2018.

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