Business news from Ukraine

Business news from Ukraine

LARGEST UKRAINIAN PRIVATE ENERGY HOLDING DTEK WILL RETAIN BRAND CORUM

DTEK Energy, the largest Ukrainian private energy holding, will retain the machine building brand Corum, the press service of the holding has told Interfax-Ukraine. “Corum enterprises, which are part of DTEK Energy, will continue their work in the external competitive markets of machine building both in Ukraine and abroad. Corum will also retain its brand, which is already well known. In the structure of the company, Corum enterprises will be managed as a separate business unit within DTEK Energy,” the press service noted.
DTEK Energy added that the duties of Corum Director General are performed by Mykhailo Potapov.
As reported, previously DTEK Energy, part of DTEK Holding, acquired shares in PJSC Svitlo Shakhtaria, Druzhkivka Machine Building Plant LLC, and Mining Machines LLC, which were formerly part of Corum Group.
DTEK Energy is the operating company responsible for coal mining, generation and distribution of electricity in the structure of DTEK Holding.

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PRIORITY IN UKRAINIAN EXCHANGE DEVELOPMENT IS CREATION OF COMMODITY EXCHANGE

The strategic group at the Ukrainian Exchange (Kyiv) has developed a plan for further development of the exchange with the priority of creating a commodity exchange on its platform, the head of Dragon Capital investment company, the largest shareholder of the Ukrainian Exchange, Tomas Fiala, has said. “The priority now is creating a commodity exchange on the Ukrainian Exchange platform,” he said in an interview with Interfax-Ukraine.
According to him, the strategic group at the stock exchange has already developed a plan for its phased development, which includes building a modern infrastructure that offers investors effective access to various segments of the market – shares, bonds, commodity contracts, as well as futures that may include not only valuable securities, indices, currencies or precious metals.
Along with the development of infrastructure, it is planned to improve technical and client services at the Ukrainian Exchange. “Dragon Capital plans to continue supporting the development of the Ukrainian Exchange, in particular by making additional investments in capital. We are interested in efficient work of the stock exchange as a broker with the largest share of turnover in the stock market,” Fiala said.

UKRAINIAN SPACE INDUSTRY INCREASES PRODUCTION IN Q1 BY 12.7%

Enterprises of the space industry of Ukraine in January-March increased production in comparison with the same period in 2017 by 12.7%, to UAH 884.4 million, the press service of the State Space Agency of Ukraine has reported. The volume of sales in the first quarter increased by 12.3%, to UAH 892 million. The total volume of gross output for the reporting period of 2018 exceeded UAH 1.462 billion, comparative figures for the last year’s reporting period are not available in the report.
According to the State Space Agency of Ukraine, the volume of the rocket and space industry’s gross output in the first quarter of 2018 rose by 21.2% compared to the same period in 2017, to UAH 52.2 million. Work under the state order was conducted by two enterprises: Pavlohrad Chemical Plant and Ukrkosmos.
The share of exports in the total volume of sales for the reporting period was 32%, while in the total volume of exports some 84.7% to the EU, the United States and other countries.
According to the data provided, seven enterprises posted profit in the first quarter. In particular the net profit of state enterprise Pavlohrad Chemical Plant amounted to UAH 33.66 million, that of PJSC Hartron some UAH 630,000, state enterprise Pivdenmash some UAH 100,000, Dniprovsky Design Institute some UAH 100,000, and Scientific and Research Technological Institute of Instrument Making some UAH 100,000.

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INVESTMENT IN UKRAINIAN AGRICULTURE GROWS, KEY SOURCE OF FINANCING – OWN FUNDS OF COMPANIES

The volume of investment in agriculture and provision of serviced related to them totaled UAH 10.52 billion in January-March 2018, the Agricultural Policy and Food Ministry of Ukraine has reported. According to the report, this was 9.5% more than a year ago. In addition, investment in production of food, beverage and tobacco products totaled UAH 4.5 billion in the first quarter of 2018, which was 56% more than a year ago.
The key source of financing of capital investment is own funds of companies, which share of total investment was 76.2%.

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