Business news from Ukraine

Business news from Ukraine

UKRAINE’S MAJOR PIPE ENTERPRISES INCREASES PRODUCTION BY 8.2%

Major pipe enterprises of Ukraine in January-July 2018 increased production of pipes from ferrous metals by 8.2% compared to the same period in 2017, to 646,600 tonnes, including 104,000 tonnes in July. The Ukrtruboprom association told Interfax-Ukraine that the enterprises incorporated in the association for the seven months of the year increased the production of pipes by 19.9%, to 477,500 tonnes, including 72,900 tonnes in July.

UKRSADPROM ASSOCIATION ASKS CABINET TO RAISE FUNDING FOR VITICULTURE, HORTICULTURE DEVELOPMENT

The Ukrsadprom association has appealed to the Cabinet of Ministers and the Ministry of Agrarian Policy and Food with the request to increase funding of the program for the development of viticulture, horticulture and hop growing by the end of this year to meet the demand of farmers.
“Ukrsadprom records an extremely high demand on the part of gardeners for state support, the peak of which will be in the autumn planting season. And it is clear today that the demand of gardeners will significantly exceed the supply of existing support,” the association’s press release said.
In this regard, according to the decision of the association council of August 11, 2018, an appeal was sent to the Cabinet of Ministers and the Ministry of Agrarian Policy and Food by the end of this year to increase funding for the program to meet the demand of farmers and expand the list of priority directions of state support, adding articles related to storage and pre-sale preparation of grown products.
“Considering high demand on the part of gardeners for participation in the support program, as well as the need to attract modern technologies to the industry and ensure sustainable development, Ukrsadprom suggests significantly increasing the amount of financing for the program in 2019 to ensure the rapid introduction of storage and pre-sale preparation facilities for Ukrainian fruits and berries,” the association said.

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BANK CREDIT DNEPR INCREASESS CHARTER CAPITAL BY 78.8%

Bank Credit Dnepr (Kyiv) has increased its charter capital by UAH 1.199 billion, or 78.8%, to UAH 2.72 billion through an additional share issue.
According to a press release of the financial institution, on August 15 the bank registered the new wording of the charter in connection with the increase of the charter capital.
Capitalization was carried out by a private placement of additionally issued shares.
Bank Credit Dnepr was founded in 1993. Its sole shareholder is Brancroft Enterprises Limited, which indirectly belongs to Victor Pinchuk.
The bank ranked 21st among 84 operating banks in the country as of June 1, 2018 in terms of total assets (UAH 9.439 billion), according to the National Bank of Ukraine.

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HIGH-SPEED RAILWAY COMPANY SEES PASSENGER TRAFFIC RISE BY 5%

Ukrainian High-Speed Railway Company, a branch of PJSC Ukrzaliznytsia, in July increased its passenger traffic by 5.3%, to 540,000 passengers, the occupancy of trains rose by 4 percentage points, to 100%, the company said.
“High-speed trains are traditionally in a high demand among passengers, their average occupancy was usually more than 90%, which is a high figure for such rolling stock. Today we state a 100% occupancy of high-speed trains,” Acting Chairman of the Board of Ukrzaliznytsia Yevhen Kravtsov said.
According to him, the demand for high-speed trains will be taken into account when approving the strategy for the development of passenger transportation in future.
According to Ukrainian High-Speed Railway Company, 847 trips were carried out in July, the occupancy rate of trains was 100%.
In the seven months of 2018, almost 3.3 million passengers were transported by Intercity+ and Intercity high-speed trains.
The rolling stock of Ukrainian High-Speed Railway Company consists of ten HRCS-2 electric trains manufactured by Hyundai Rotem, two EKS-1 Tarpan electric trains and two trains on locomotive traction produced by Kriukov Car Building Works, as well as two double-deck Czech trains produced by Skoda.

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