Business news from Ukraine

Business news from Ukraine

UKRAINE’S GDP GROWS BY 5.4% IN Q2

Ukraine’s real gross domestic product (GDP) in the second quarter of 2021 grew by 5.4% compared to the second quarter of 2020, while falling by 2.2% in the first quarter of this year, the State Statistics Service published a preliminary estimate in Monday.
According to the authority, in comparison with the previous quarter (taking into account the seasonal factor), the GDP decreased 0.8%.

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UKRAINIAN RESCUERS RETURN FROM TURKEY

Ukrainian rescuers have returned to Ukraine from Turkey, where they were sent to assist in extinguishing large-scale forest fires, the press service of the State Emergency Service said.
“Two AN-32P aircraft landed at the airfield of the Special Aviation Detachment of the Operational Rescue Service of Civil Protection of the State Emergency Service of Ukraine in the town of Nizhyn,” the message says.
The head of the Service Mykola Chechotkin congratulated the Ukrainian rescuers on their return, noting that Ukraine is proud of them, and the citizens of Turkey are grateful for their invaluable help.
As reported, on July 30, planes of the State Emergency Service went to Turkey to participate in extinguishing large-scale forest fires in this country.
The fires broke out on July 28 in the tourist province of Antalya and spread to the provinces of Osmaniye, Kayseri, Kocaeli, Adana, Mersin and Mugla. The area of the fires was 1,500 hectares, four people died, about 183 people were injured, more than 100 buildings were damaged.

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UKROLIYA TO GET LOAN FROM EUROPEAN BANK FOR RECONSTRUCTION AND DEVELOPMENT

Ukroliya LLC (Chernechy Yar, Poltava region) on August 10 agreed with the European Bank for Reconstruction and Development (EBRD) that the company will raise a loan of EUR 16 million to finance its capital expenditures, working capital requirements, as well as to restructure existing debt, according to a press release from the EBRD.
“The main objective of the project is to support the company’s growth plans and its strategy to expand further in more profitable, premium (organic and high-oleic) and value-added (bottled and refined) sunflower oil sub-segments,” the bank said in the press release.
In addition, as part of the project, Ukroliya, will set up an accredited in-house training centre, in collaboration with local education partners, which will support the company in meeting its skills needs and provide training opportunities for people in Poltava region.
According to the EBRD, the project will support modernisation of the company’s production facilities, including the installation of a biomass boiler and processes to reduce oil content in wastes and reprocess materials for filtering, as well as the increase in production of organic vegetable oil and purchases of organic oilseeds.
The EBRD said that the total cost of this project is EUR 16 million, of which Ukroliya will receive the total required amount.
The press release does not contain other details of the transaction.
Ukroliya LLC was founded in 2001. It is engaged in the production and sale of packaged and bulk sunflower oil, sunflower cake, and husk. Its production facilities are located in the townships of Dykanka and Zinkiv (both in Poltava region).

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UKRAINE SEES 417 NEW CASES OF COVID, 248 RECOVERIES

As of Monday morning, 417 new cases of COVID-19 were recorded in Ukraine, with 248 people reported as recovered, while 14 people died, the press service of the Ministry of Health of Ukraine said.
“During the day on August 15, 2021, some 417 new confirmed cases of coronavirus disease COVID-19 were recorded in Ukraine (of which there are 31 children and 10 health workers). Also, over the past day: 433 people were hospitalized, 14 people died, and 248 people recovered,” said the Ministry of Health of Ukraine on the Telegram channel.

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UKRAINE INTERNATIONAL AIRLINES STOPS FLYING THROUGH AFGHAN AIRSPACE

Ukraine International Airlines (UIA) has decided to stop flying through Afghan airspace on flights to Delhi (India) as crisis in this country has aggravated.
“Back on [last] Friday, the airline conducted its own assessment of the risks of flying above the territory of Afghanistan in connection with the current situation in the country. Taking into account the identified increase in the level of threat to flights, UIA decided to changed course and exited Afghanistan’s airspace on flights to Delhi to ensure an adequate security of flights,” the airline told Interfax-Ukraine.
UIA said that these flights were operated under the Air Bubbles agreement on Tuesdays and Sundays; due to the charge of the course, the flight time will increase by about two hours. Previously, it was about seven hours.
To date, a number of international airlines have already decided to reroute flights out of the airspace of Afghanistan.
Kabul International Airport on Sunday suspended servicing commercial flights, the Associated Press reported on the evening of the same day, citing representatives of the U.S. forces.
At the same time, the evacuation from Kabul secured by the U.S. forces continues.

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UKRAINE EXPECTS TO START FREE TRADE NEGOTIATIONS WITH UNITED STATES

Ukraine expects to start free trade negotiations with the United States during the visit of President Volodymyr Zelensky to the United States, First Deputy Prime Minister, Minister of Economy Oleksiy Liubchenko has said.
“During the president’s visit to the United States, we want to reach an agreement to start free trade negotiations with the United States,” Liubchenko said in an exclusive interview with Interfax-Ukraine.
In addition, Ukraine has carried out preliminary work to expand the free trade area (FTA) with Canada.
“I hope this year we will complete negotiations on expanding the FTA to include services and mutual protection of investments,” the first deputy prime minister said.
He added that Canada is interested in this, since it has great investment potential, concentrated in private pension funds.

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