Business news from Ukraine

HIGHEST LEVEL OF WAGES ARE IN KYIV, LOWEST IN CHERNIHIV, WAGES IN UKRAINE 13% UP IN JUNE

Real wages in Ukraine in June 2018 compared to June 2017 increased by 13%, compared to May 2018 by 4.8%, the State Statistics Service has reported. It said the average nominal wage of full-time employees in June 2018 compared to May 2018 rose by 4.8%, in annual terms by 24.2%, amounting to UAH 9,141, while in May it was UAH 8,725, in April some UAH 8,480, in March some UAH 8,382, in February some UAH 7,828, and in January UAH 7,711.
According to statistics, the largest growth in the average wage of full-time employees in June 2018 compared with June 2017 was observed in Zakarpattia (28.2%), Zhytomyr (27.4%), Dnipropetrovsk (27%), Poltava (26%), Vinnytsia and Zaporizhia (26.9%), Mykolaiv and Kirovohrad (25.8%), Volyn (25.6%), Ternopil (24.8%), Kyiv (24%), Khmelnytsky (23.7%), Lviv (23.6%), Cherkasy (23.5%), Ivano-Frankivsk (21.9%), Chernivtsi and Chernihiv regions and Kyiv (22.2%).
Wage growth in Donetsk and Luhansk regions (excluding part of the joint forces operation) was 20% and 33.4% respectively.
The highest level of wages in the past month was recorded in Kyiv at UAH 13,553, the lowest one in Chernihiv region at UAH 7,341.

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AGROMARS PLANS TO BUILD FLOTATION SLUDGE RECYCLING PLANT

Agromars Complex LLC (Kyiv region) plans to build a flotation sludge recycling plant.
“The second project being considered by Agromars Complex is construction of a flotation sludge recycling plant. Flotation sludge appears after purification of water used in slaughtering houses and extra sludge from biological treatment facilities,” the company said on its website. In particular, Agromars is interested in a project of Dutch Mavitec.
The flotation sludge recycling plant and the chicken manure recycling plant will generate electricity using a gasification method. It would be able to generate 1.1 MWh of heat and organic fertilizers.
“We have a plant producing biological additive from animal byproducts. When we build two more plants, we would complete the chain for treating any waste. This would allow solving all environmental issues as it is done in Europe,” Deputy Technical Director Oleksandr Surmach said.

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STATE-OWNED UKRSPECEXPORT HAS 2.3-FOLD RISE IN NET PROFIT

State-owned company Ukrspecexport in January-June 2018 saw a 2.3-fold rise in net profit under Ukrainian accounting standards (129.9%) year-over-year, to UAH 158.34 million. According to a company report in the information disclosure system of the National Commission for Securities and the Stock Market, its net revenue in H1 2018 grew by 24.83%, to UAH 773.12 million.
In January-March 2018, Ukrspecexport increased net profit by 69.26%, to UAH 64.38 million and net revenue – by 7.86%, to UAH 364.13 million.
Ukrspecexport is an authorized state intermediary in carrying out foreign economic activities in the sphere of exports and imports of goods and services that are subject to export control.
Since December 2010, under the government’s decision Ukrspecexport and its subsidiaries have joined the Ukroboronprom State Concern.

UKRAINE AND ISRAEL SEEK TO BOOST GOODS FLOW TO $2 BLN A YEAR IN FIVE YEARS

Ukraine and Israel seek to boost goods flow in the coming five years to $2 billion a year, while last year the figure grew by 14.7% compared with 2016, reaching $772.5 million, Ukraine’s First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv has said. “I met with Israeli Minister of the Economy and Industry Eli Cohen and agreed to increase the trade flow to $ 2 billion in the next five years,” he wrote on his Facebook page.
According to him, the countries also intend to develop cooperation in the field of innovation and high technologies.
Kubiv also recalled that Ukraine and Israel intend to sign a free trade agreement by the end of this year.

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STATE-OWNED ENERGOMARKET SEES 3.1-FOLD RISE IN NET PROFIT

State-owned enterprise (SOE) Energomarket (Kyiv) in January-June 2018 saw a 3.1-fold rise in net profit year-over-year, to UAH 1.805 billion. The company reported in the information disclosure system of the National Commission for Securities and the Stock Market, its net revenue in H1 2018 grew by 18.9%, to UAH 85.423 billion, and gross profit doubled, to UAH 1.711 billion.
As reported, in 2017, the enterprise cut net profit by 33.3%, to UAH 856.261 million, boosting net revenue by 11.6%, to UAH 146.209 billion.
SOE Energomarket fulfils functions of the operator of the wholesale electricity market of Ukraine.