Business news from Ukraine

KYIV. June 6 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has declared macrofinancial stabilization has been achieved in the country.

“I believe the main achievement is achievement of macrofinancial stabilization, without which progress would be impossible. This is a constant, gradual increase in foreign exchange reserves without participation of our partners, the International Monetary Fund or international financial institutions,” Poroshenko said at a press conference in Kyiv.

According to the head of state, just today, on June 3, “we bought $10 million, the day before yesterday $60 million… Over the past two months the figure significantly exceeded $1 billion.”

Poroshenko noted these figures clearly reflect guaranteed financial stabilization in the Ukrainian market.

“We already have the first result of this financial stability: it’s agreements with the IMF and the approval by the parliament of the law scrapping taxation of pensions […] Few results have been achieved so far,” the president said.

“I am setting the government a task: we need to transition from survival policies to a development strategy policy […] from the macrofinancial improvements we have now achieved to economic growth,” he said.

In this regard, the president recalled Ukraine is looking to ensure a 1.1% GDP growth this year, with inflation not exceeding 12%.

“We already have positive [GDP] dynamics in the first quarter […] We are optimistic about the future as it regards targeting the annual inflation level of 12%,” Poroshenko said.

Poroshenko said achieving these goals will make it possible to achieve an 8% inflation level in 2017.

KHARKIV. June 3 (Interfax-Ukraine) – DART-450 twin-engine aircraft made by Austria’s Diamond with Ukrainian AI-450S turboprop engine has been successfully tested and will be exhibited at Farnborough Airshow 2016, the press service of public joint-stock company FED (Kharkiv), a participant of the AI-450S engine project, has reported.

“DART-450 aircraft will be exhibited at the Farnborough Airshow in July 2016. The certification procedure will be finished by the end of the year,” the press service said, citing FED Head Viktor Popov.

He said that this is the first case of using the gas-turbine engine in the airplanes of this class: earlier the gas-turbine engines for these aircraft were considered unviable, as they consume more fuel and diesel and petrol engines.

“Ivchenko-Progress, FED and Kharkiv Aviation Institute found proofs for applying gas-turbine engines to this kind of aircraft. FED produces the fuel control system. When the calculations were presented to top managers of Diamond they agreed to realize the project. AI-450S engine has been designed and manufactured in short terms. Last year single-engine aircraft was tested (DA20 with petrol engine) and this year twin-engine aircraft (DA42 with diesel engines). This is the first use of the gas-turbine engine in these aircraft,” Popov said.

He said that the certification of the aircraft with the Ukrainian engine to meet EU standards would help to enter the quickly growing Asian aviation market.

“Today, the talks to sell licensed production of AI-450S engine to China are being held. The prospects of the project look great,” Popov said.

The sum of the contract is not disclosed. The prices and shares of the project participants have been preliminary agreed.

The DART-450 (Diamond Aircraft Reconnaissance Trainer) is the worldwide first all-carbon fiber tandem, 2-seat civilian and military trainer with a sidestick and pneumatic ejection seats. The airplane has a maximum take-off power of 500 hp, is equipped with the Ivchenko-Progress/Motor Sich AI-450S turboprop engine, a 5-blade MT propeller, and a GARMIN avionic system. The fuel control system of the engine is made by FED.

KYIV. June 3 (Interfax-Ukraine) – Ukraine since early 2015/16 agricultural year (July 2015 – June 2016) has exported 1.637 million tonnes of wheat to the European Union (EU), Deputy Minister of Economic Development and Trade, Trade Representative of Ukraine Natalia Mykolska has wrote on her Facebook page.

“According to data from our partners in the general Directorate of the European Commission, this agricultural year started on July 1, 2015 and will last until June 30, 2016. Ukraine is the largest exporter of wheat to the EU. A total of 1.637 tonnes or 49% of total imports to the EU was shipped, and we are ahead of the United States, Canada and Russia put together,” she wrote.

She said that the Commission Implementing Regulation(EU) 2016/876 was published in official Journal. The coefficients will be applied to the quantities covered by the applications for Ukrainian wheat import licenses.

She said that this means that Ukraine has used its quota for exports of wheat to the EU in the amount of 950,000 tonnes.

“It is very important that this does not mean that our grain exports to the EU halts. Supplies will continue as part of the global EU grain quota and beyond the quotas,” she wrote.

KYIV. June 2 (Interfax-Ukraine) – Airbus (France), one of the largest aircraft manufacturers in the world, jointly with the State Aviation Service of Ukraine plan to organize a training platform for aviation specialists in Kyiv.

According to the service, the initiative was discussed on May 27 during a meeting with the regional director for flight safety at Airbus, Yuriy Chekanov. The parties discussed support for the safe operation of Airbus aircraft in Ukraine, conducting conferences, seminars, training and other events for state inspectors and operators.

Chekanov, in particular, said Airbus plans to take part in national courses for internal investigation into operational events on the basis of the ICAO European regional training center for training of state inspectors for flight safety and airworthiness. State Aviation Service representatives proposed expanding the list of trainings to further establish a regional training platform in Kyiv for aviation specialists from Ukraine, Moldova, Georgia, and the Baltic countries.

KYIV. June 2 (Interfax-Ukraine) – State enterprise Ukrposhta hopes within three or four months to launch a pilot project to deliver parcels using drones.

An Interfax-Ukraine journalist has reported that acting head of Ukrposhta Ihor Tkachuk gave the information during tests of this delivery in Bucha (Kyiv region) on Wednesday.

“Amendments to postal legislation, cooperation with the State Aviation Service are required, as well as serious work is to be done. Ukrposhta should change for the needs of clients,” he said.

Israeli Flytrex drones were selected for tests. They can deliver parcels weighing up to three kilograms for distances of up to 23 kilometers. Their speed is up to 70 kilometers per hour.

Tkachuk said that the cost of one drone varies depending on its capabilities from $3,000 to $50,000. The financing of their purchase would be discussed: leasing, borrowing and other tools.

Demand for this quick delivery would be studied, he said.

“The cost of delivery by a drone cannot exceed the approved tariffs for speedy delivery. The mobile application for this delivery would be free of charge,” he added.

The founder and CEO of Flytrex Yariv Bash who was present during the tests said that drones are controlled using cloud solutions in the encoded format.

Asked how parcels can be delivered to the consumer who lives in a multi-apartment building in a city, he said that the preliminary agreed sites would be selected at the first phase of the introduction of the technology, for example, corners of the streets, near houses.

“If demand grows, the post office jointly with municipal agencies would be able to expand the number of sites for delivery,” Bash said.

He added that one postal drone can make 300 deliveries a month. He said that if the drone is seized, it would not be possible to use it in other purposes, as it can be disconnected from the control center.

“When a drone takes off it knows where to fly. There is no communication with it. The drone is controlled from the Flytrex center, not using the control boards,” Bash said.

Persons have access only to the parcel that would be landed using a rope. The drone does not land the site. If a client wants to seize the rope, the drone would let it go with the parcel.