Business news from Ukraine

Business news from Ukraine

ENERGY MINISTRY OF UKRAINE PLANS TO ESTABLISH INDUSTRY CENTRE FOR CYBERSECURITY

The Ministry of Energy of Ukraine plans to establish Industry Centre for Cybersecurity for critical infrastructure facilities in the Ukrainian energy sector.
As the Ministry’s press office reports, negotiations with partners on obtaining technical assistance are currently underway.
“International companies leading in the field of cybersecurity and digital transformation, such as, Microsoft, Cisco, HPE, Dell, McAfee, Huawei, Fortinet, Trend Micro, Micro Focus, Palo Alto Networks, have expressed interest in joining work together,” the ministry said.
In the near future, together with the International Cybersecurity University (ICU), it is planned to hold a meeting of the working group on the development of cyber defense of critical energy infrastructure facilities under the Ministry of Energy.
“The purpose of the meeting is to draw attention to cybersecurity issues in the energy sector, to establish closer cooperation with global companies and international partners, to develop a plan for the further development of the sectoral cybersecurity system,” the Ministry of Energy reported.

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UKRAINE AND SLOVAKIA SIGN AGREEMENT TO REOPEN UZHGOROD AIRPORT

Ukraine and the Slovak Republic have signed an intergovernmental agreement on the provision of aviation operational services by their Ukrainian supplier in a certain part of the Slovak airspace relative to Uzhgorod airport.
According to Minister of Infrastructure Vladyslav Krykliy, the document was signed by him and Minister of Transport and Construction of Slovakia Andrej Dolezal.
“The full operation of Uzhgorod airport will be restored. Just now, together with my Slovak colleague, Minister of Transport and Construction of the Slovak Republic Andrej Dolezal, we signed an appropriate bilateral intergovernmental agreement. Finally, after so many months of inactivity, we will connect Zakarpattia by air service with other regions and with abroad,” he wrote on his Telegram channel on Thursday.
According to the press service of the Infrastructure Ministry of Ukraine with reference to the head of the department, the signing of this agreement will also help strengthen mutual bilateral relations in the civil aviation sector between the countries and in terms of expanding the possibilities of international air transportation.
However, Krykliy expressed hope for the early completion of the coordination of technical issues related to the implementation of the agreement and the signing by the parties of the implementation protocols within a month.
The ministry said that the agreement was initialed by both countries during negotiations in Kyiv on December 18, 2019. The document takes into account the security and defense aspects arising from the membership of Slovakia in NATO, as well as from the fact that the Ukrainian-Slovak border is also the external border of the Alliance.
According to the ministry, the agreement was concluded for an indefinite period and comes into force from the date of receipt through diplomatic channels of the last written notification of the completion of the domestic procedures necessary for its entry into force.

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BROKBUSINESS LIFE INSURER COULD BE RENAMED

The shareholders of PJSC Brokbusiness Life Insurance Company (Kyiv) at a meeting on October 27 will consider the issue of amendments to the charter of the company, including the change of name to JSC Brokbusiness-Life, according to the official information of the insurer.
In addition, during the meeting, it is planned to make changes to the types of activities of the company by excluding life insurance (65.11), while including the following activities: 66.22 – activities of insurance agents and brokers (main), 63.99 – other information services, 66.29 – other auxiliary activities in insurance, 70.22 – business and management consulting, 73.20 – market research and public opinion research, 82.30 – organization of congresses and trade shows.
As reported, the National Financial Services Market Regulation Commission, by an order dated April 28, 2020, excluded information about PJSC Brokbusiness Life Insurance Company (Kyiv) from the public register of financial institutions and canceled the registration certificate at the request of the company.
The company had been operating in the insurance market since November 2007.

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UKRAINE, SLOVAKIA TO COOPERATE IN DEVELOPMENT OF TRANSPORT

Ukrainian Infrastructure Minister Vladyslav Krykliy and Minister of Transport and Construction of the Slovak Republic Andrej Doležal signed a memorandum of cooperation within the Silk Road Economic Belt.
The press service of the Infrastructure Ministry said on Thursday that the document will contribute to creating conditions for the further development of multimodal transport in transfer between Asia and the EU through Ukraine and Slovakia, as well as for increasing the number of container block trains that will be used for combined freight transport; putting into practice the implementation of the project on the creation of multimodal logistics centers that will handle cargo on the Silk Road route, which will make it possible to form an appropriate bilateral working group and create a basis for negotiations with the Chinese side; developing a common approach to organizing the movement of container trains running between Asia and the EU through Ukraine and Slovakia.
“Both Ukraine and Slovakia are extremely interested in developing their transit potential and improving the processes of organizing the delivery of goods in containers from the EU countries to China and vice versa. In early September, we held consultations with the Slovak side to intensify cooperation in the development of the Silk Road through the territory of Ukraine and Slovakia. Today we are fixing them with the relevant memorandum,” the press service said, citing Vladyslav Krykliy.
The ministry said that the memorandum has been drawn up for an indefinite period and will enter into force on Thursday, September 24.
In addition, according to the ministry, during a meeting with the Slovak side, the Minister of Infrastructure confirmed the readiness to intensify the work of the Ukrainian and Slovak sides on the development of logistics terminals in Chop, Mukacheve and Košice and proposed a joint search for financial resources for the implementation of the Creation of Multimodal Logistics Center Between Ukraine and Slovakia Based on the Existing Terminal in Chop project.

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NBU PREDICTS ACTUAL BUDGET DEFICIT AT 6-6.5% OF GDP IN 2020

The National Bank of Ukraine (NBU) expects an actual budget deficit in 2020 at the level of 6-6.5% of GDP instead of the 7.5% foreseen in the forecast, Deputy Governor of the NBU Dmytro Sologub has said.
“This year’s budget deficit is set at 7.5% of GDP. This is absolutely correct from the countercyclical point of view. But, apparently, the actual deficit will be lower… We estimate that the budget deficit will be around 6 -6.5% of GDP,” he said in an interview with Interfax-Ukraine.
According to him, the budget deficit fell below the forecast due to the strong underfunding of existing expenses. “Catching up on them in recent months will not be easy given the funding opportunities,” he said.

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AMERICAN VIDEO SERVICE NETFLIX BECOMES MEMBER OF AMERICAN CHAMBER OF COMMERCE IN UKRAINE

The American video service Netflix Inc. became a member of the American Chamber of Commerce in Ukraine (ACC), ACC President Andy Hunder told the members of the association.
He recalled that Netflix is now filming its first feature film in Ukraine.
Discovery Communications Europe Limited also became a member of the ACC in Ukraine in August.
Earlier information appeared on Netflix’ website that two Ukrainian studios Postmodern Postproduction and Tak Treba Production became partners of the video service and received the Gold partner status. They will duplicate service products in Ukrainian.
Postmodern Postproduction (formerly Pteroduction Sound) is one of the largest film studios in Ukraine. It specializes in postproduction (dubbing, CGI and VFX). Founded in 2001, it is part of Film.UA Group. The CEO of the company is Serhiy Bondarenko.
The multimedia company Tak Treba Production specializes in adaptation services for foreign films, TV series and animation (voice acting, dubbing, titration in Ukrainian and Russian). The company was founded in 2003 and is headed by Dmytro Melnyk.

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