Business news from Ukraine

Business news from Ukraine

REAL WAGES IN UKRAINE 13% UP IN SEPTEMBER

Real wages in Ukraine in September 2018 compared with September 2017 increased by 12.9%, compared with August 2018 decreased by 1.2%, the State Statistics Service has reported.
According to the service, the average nominal wage of full-time employees in September 2018 compared with the previous month increased by 0.7%, in annual terms by 23%, reaching UAH 9,042, whereas in August it amounted to UAH 8,977, in July some UAH 9,170, June some UAH 9,141, May some UAH 8,725, April some UAH 8,480, March some UAH 8,382, February some UAH 7,828, and in January some UAH 7,711.
According to statistics, the largest rise in the average wage of full-time employees in September 2018 compared with September 2017 was observed in Poltava (by 29.1%), Vinnytsia (by 27%), Zaporizhia (by 26.6%), Dnipropetrovsk (by 25.7%), Kyiv (by 25.5%), Ivano-Frankivsk (by 24.9%), Volyn (by 24.1%), Lviv (by 24%), Chernivtsi (by 23.2%), Chernihiv (by 23.1%), Zakarpattia (by 22.9%), Ternopil (by 22.5%), Zhytomyr (by 22.1%), Cherkasy (22.1%), Khmelnytsky (by 21.9%), Sumy (by 21.5%), Odesa (by 21.2%), Rivne (by 21.1%), Kharkiv (by 20.8%), Kirovohrad (20.4%), Kherson (20%), Mykolaiv regions (19.6%), and Kyiv (19.2%).
Wage growth in Donetsk and Luhansk regions (excluding part of the JFO zone) was 22.1% and 24.3% respectively.
The highest level of wages in the past month was recorded in Kyiv at UAH 13,614, the lowest one in Ternopil region with UAH 7,061.

UKRENERGO USES SCIENTIFIC LEGAL ANALYSIS CLAIMING ABSENCE OF POWERS OF REORGANIZATION COMMISSION TO MANAGE COMPANY

The Koretsky Institute of State and Law under a request of National Energy Company Ukrenergo has confirmed the absence of powers of the commission for reorganization of Ukrenergo to manage the company’s affairs. According to the findings of the scientific and legal analysis, the text of which Interfax-Ukraine has, the commission created by order of the Energy and Coal Industry Ministry No. 728 dated December 5, 2017, is not vested with the authority to manage the affairs of Ukrenergo and its current activities.
At the same time, according to the findings of the institute, the Energy and Coal Industry Ministry has not authorized the commission to manage the affairs and current activities of Ukrenergo, but only to provide organizational support for the Ukrenergo transformation process.
As reported, the ministry on October 18 said that the commission for reorganization of Ukrenergo, which from October 9 is headed by Blyzniuk, has decided that powers to manage the company are transferred to the commission head, which is aimed at the successful completion of the reorganization process.
Ukrenergo said about the deliberate obstruction of corporatization and the process of the introduction of the electricity market by the commission for reorganization of the company, which members are approved by the ministry.
The business court of Kyiv on October 23 suspended the decision of the commission for reorganization of Ukrenergo about the delegation of powers to manage the company to the head of the commission in the person of Deputy Energy and Coal Industry Minister of Ukraine Mykhailo Blyzniuk.

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NUMBER OF HOUSEHOLDS WITH SOLAR PANELS ON ROOFS IN UKRAINE INCREASES 2.5-FOLD

The number of households in Ukraine, which installed solar panels, in January-September 2018 increased 2.5-fold year-over-year, to 3,000.
According to the report of the State Agency for Energy Efficiency and Energy Saving, in July-September 2018 the number of households, which installed solar panels on their roofs, was 1,371.
In general, a total of 6,031 families installed solar panels on their roofs with a total capacity of 121 MW, which is 10% of total solar power generating units in the country. A total of EUR 120 million was invested in private solar panels on the roofs.
The largest number of households is in Kyiv (727), Dnipropetrovsk (694), Ternopil (522) regions, and the smallest – in Chernihiv (74), Zaporizhia (56) and Luhansk (8).

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GOODS TURNOVER BETWEEN U.S., UKRAINE 16% UP IN 2018

The goods turnover between Ukraine and the United States in January-August 2019 grew by 16% year-over-year, to $2.6 billion, First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv has said.
“Bilateral trade in the eight months of 2018 increased by 16% and amounted to almost $2.6 billion. Exports to the United States grew by almost 32% and imports by 11%,” Kubiv said, opening the first official U.S. trade mission in Kyiv on Monday.
He also said that over three and a half years in Ukraine 80 factories were built with the attraction of foreign investment or are under construction. The leader in investing in the construction of factories is Germany, Turkey and the United Kingdom.
“The outright leader in attracting investments is Lviv region, where 18 factories with the attraction of foreign investors have been built or their construction is ending since 2015. The second place in attracting investments in the number of projects is occupied by Vinnytsia and Ivano-Frankivsk regions – six factories each,” Kubiv said.
The U.S. trade mission in Ukraine consists of four sections – IT, agriculture, infrastructure, and energy. The United States represents three companies in each of these areas.

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