Business news from Ukraine

Business news from Ukraine

FLIGHTS FROM UKRAINIAN CITIES TO TALLINN CANCELED

The flights of Hungarian low-cost airline Wizz Air from Ukrainian cities to Tallinn (Estonia) have been canceled until August 9, 2020 inclusive, the press service of the air carrier told Interfax-Ukraine.
“The airline currently operates a limited number of flights due to travel restrictions. Wizz Air flights from Ukrainian cities to Tallinn have been canceled until August 9, 2020 inclusive. We are closely monitoring the situation, since the resumption of flights depends on official decisions of the competent authorities in the country of arrival and departure,” Wizz Air said.
The airline also said that it operates flights in accordance with the rules and recommendations of the governments of the countries, providing services to those passengers who have the appropriate travel permits.
In addition, Wizz Air reminds passengers that it is their responsibility to learn the travel restrictions imposed by the country of arrival prior to travel.

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EUROPEAN INVESTMENT BANK COULD ISSUE EUR 100 MLN LOAN TO STATE-RUN UKRAVTODOR

The European Investment Bank (EIB) is considering the possibility of providing the State Agency of Automobile Roads of Ukraine (Ukravtodor) with EUR 100 million in a loan for the development of roads in Luhansk region.
“The investment loan would support investment in the reconstruction of regional roads T-13 and R-66 in Luhansk region, therefore improving regional connectivity and strengthening the agricultural value chain due to improvements in the associated road infrastructure. The road investment will improve the regional road network with the objective of improving the quality of the road, creating safer road conditions and reducing environmental pollution through improved traffic flow,” the bank’s website said.
According to data released by the EIB, the total cost of reconstruction of these roads is EUR160 million.
As reported, Ukravtodor completed the repair of the section of road N-26 Chuhuyiv-Milove (Luhansk region) within the framework of the Big Construction project.

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UKRAINIAN COURT OF APPEAL OVERTURNS JUDGMENT ON SEIZURE POROSHENKO’S COLLECTION OF PAINTINGS

Kyiv Court of Appeal overturned the judgment of Pechersky District Court of Kyiv on seizure of 42 paintings of fifth President of Ukraine, Leader of the European Solidarity Party Petro Poroshenko, under the investigation into the alleged illegal movement of art treasures across the state border.
The Register of Judgments states that the decision to cancel the seizure was issued on July 27, 2020.
“The appeal of lawyer Holovan must be redressed. The decision of the investigating judge of Pechersky District Court of Kyiv dated May 27, 2020, who seized property of 42 paintings and one lithograph, which are material evidence in criminal proceedings has to be cancelled and new decision, which to refuse in sustaining the prosecutor’s motion for the seizure of property has to be made,” Kyiv Court of Appeal said in its decision.
As reported, on May 26 The Ukrainian State Bureau of Investigations (SBI) has summoned fifth president of Ukraine and MP Petro Poroshenko for questioning as a witness in two criminal cases (illegal transfer of the collection of paintings across the state border and illegal use of the technical means of obtaining the information).

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GEZHOUBA GROUP SHOWS INTEREST IN INVESTING INTO UKRAINIAN POWER SECTOR

China Gezhouba Group Corporation (CGGC), the Chinese company specializing in the construction of hydropower facilities, has shown substantial investment interests in Ukraine, the Ukrainian Embassy in China said following a meeting of Ambassador Serhiy Kamyshev and CGGC Chairman Lyu Zexiang.
“In order to successfully implement mutual interests, the CGGC leadership was provided with the embassy’s recommendations on interaction with interested authorities in Ukraine, and expressed readiness to provide diplomatic support to relevant investment projects,” the embassy said on its Facebook page.
The embassy said that the Chinese state-owned company has been operating since 1970, specializing in the construction of hydropower facilities in China and outside the country. Its calling card is the construction of the world’s biggest Three Gorges Dam in Hubei province. Today, the company is a participant in similar projects all over the world, carrying out their construction and co-financing. The Ukrainian office of the company operates in Kyiv.

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DEMAND FOR NEW PASSENGER CARS IN UKRAINE GROWS BY 10%

Primary registrations of new passenger cars in Ukraine in July this year increased 10% compared to July 2019, to 8,400 cars, the Ukrautoprom association has reported.
At the same time, in comparison with June of this year, the demand for cars grew by 15%, with May – by 40%.
The Renault brand retained its leadership position in July, increasing sales by 20%, to 1,440 cars. Toyota was second with an increase in registrations by 10%, to 1,147 cars, and Skoda was third, as in July 2019, with 457 cars sold (one third less than a year earlier).
Hyundai was at the fourth place (in July 2019 sixth position) with a 6% decrease in registrations, to 442 cars, and KIA was fifth with 429 cars sold (a fall of 28%).
The top 10 of the July market included: Volkswagen with 361 cars (a rise of 7%); Peugeot with 352 cars (a rise of 113% and seventh place compared with the 12th position in July 2019); Suzuki with 351 cars (a rise of 36%); Nissan with 332 cars (a fall of 32%); and Mazda with 279 cars (a rise of 20%).

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DTEK ENTERS RETAIL GAS MARKET

The supplier of electricity and energy saving solutions YASNO (DTEK) will also sell natural gas.
According to the company, it has already received a package of licenses for the supply of natural gas and is negotiating the conclusion of the first gas contracts with legal clients.
YASNO is also preparing to supply natural gas to households.
“We understand how convenient and profitable it is for clients to have a single supplier that simultaneously provides electricity, gas, and also helps to save money thanks to energy saving solutions and products. This is a modern European practice that YASNO will implement in Ukraine in combination with a high level of service,” Business Development Director of YASNO Oleksandr Onyshchenko said.

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