Business news from Ukraine

Business news from Ukraine

ALL TERRITORY OF UKRAINE WILL BE DIGITALIZED NEXT YEAR

The State Service of Ukraine for Geodesy, Cartography and Cadastre has announced a tender to carry out aerial mapping of the territory of Ukraine, as well as to create orthophotomaps and a digital terrain model (DTM), Ukrainian Prime Minister Oleksiy Honcharuk has said. “Ukraine will have high-quality and accurate 3D models of forests, industrial structures, as well as classifications of buildings, plants, power lines and much more. Investors will be able to easily design facilities and invest in infrastructure,” the government’s press service reported, citing Honcharuk as saying. According to the report, the total cost of the work is UAH 276 million. The deadline is until December 2020.
In addition, in preparation for land reform, the State Service for Geodesy, Cartography and Cadastre is actively filling out a database. So, in three months, six new information layers appeared on the public cadastral map. Now information on 20.9 million land plots (total area of 43.8 million hectares) has been entered.
Among other things, the authority began using satellite-based land monitoring data in test mode, and in just a week completed 755 public control measures over the use and protection of land.
It is reported that according to the results, 301 violations of land legislation with a volume of damage of more than UAH 1 million were revealed, of which UAH 691,720 were voluntarily repaid.

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UKRAINE EXPORTS 24.8 MLN TONNES OF GRAIN SINCE START OF MARKETING YEAR

Ukraine since the beginning of the marketing year 2019/2020 (MY, July-June) and as of December 2, 2019 had exported 24.81 million tonnes of grain and leguminous crops, which is 32% more than on the same time in the past MY.
According to the information and analytical portal of the agro-industrial complex of Ukraine, the country has currently exported 13.47 million tonnes of wheat, 7.52 million tonnes of corn, and 3.5 million tonnes of barley.
As of December 2 of this year, 156,500 tonnes of flour had been also exported.
As reported, Ukraine in the 2018/2019 MY exported a record 50.4 million tonnes of grain, legumes and flour, which is 23% more than in the previous MY.

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UKRAINE REDUCES GAS STOCKS 4.7%

Ukraine reduced gas stocks in underground storage facilities 4.7% or by 1.022 billion cubic meters (bcm), to 20.761 bcm between November 1 and 30, according to preliminary data from gas infrastructure operator JSC Ukrtransgaz.
According to Interfax-Ukraine’s calculations, the gas stocks on November 30 were 28.7% higher than on the same date last year, 28.8% higher than on November 30, 2017 and 53.1% higher than on November 30, 2016.
Gas withdrawals from underground storage facilities totaled 48.65 million cubic meters on November. Ukraine imported 17.49 mcm and produced 56.33 mcm of gas that day.

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KERNEL SIGNS FIRST NON-DELIVERABLE FORWARD CONTRACT IN UKRAINIAN MARKET

One of Ukrainian banks and the large Ukrainian agricultural holding Kernel signed a first non-deliverable forward (NDF) contract in the history of Ukraine last week, the National Bank of Ukraine (NBU) has said.
“This is the first transaction to hedge currency risks of this type in the Ukrainian market. Earlier, deliverable forward contracts were also concluded in the market, but their share is still insignificant and has great potential for growth,” the regulator said in a statement last week.
NBU Deputy Governor Oleh Churiy said that in the world on the foreign exchange market spot transactions, that is, those that are actually settled on the same day, make up no more than a third of the total foreign exchange market.
“The rest are transactions using hedging instruments: forwards, futures, swaps. Unfortunately, in Ukraine it is the opposite: spot transactions dominate, and cases of hedging currency risks by the business are still isolated,” Churiy said.
According to him, with a floating exchange rate, business owners and financial directors should pay attention to hedging tools that are already available in Ukraine. These are, in particular, deliverable and non-deliverable forward contracts, which can be concluded with banks for export-import operations or loans from nonresidents.
“For four years now, Ukraine has been living in a flexible exchange rate environment that avoids the accumulation of imbalances in the economy, but also requires prudent planning for the business,” the NBU deputy governor said.

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DTEK ENERGY SEES NET PROFIT RISE BY 1.9 TIMES DUE

DTEK Energy in January-September 2019 increased its net profit by 85.4% (UAH 2.899 billion) compared to the same period last year, to UAH 6.294 billion, the report on the company’s website said.
DTEK Energy’s revenue for the nine months decreased by 39.7% (by UAH 47.523 billion), to UAH 72.289 billion, gross profit by 17.7% (by UAH 2.551 billion), to UAH 11.873 billion.
For the nine months, the company invested UAH 4.2 billion in production, and paid UAH 11.6 billion in taxes to the budgets of all levels.
The company told Interfax-Ukraine that profit growth against the background of a decrease in income is associated with the strengthening of the hryvnia exchange rate, due to which net profit was received.
“In total, net profit amounted to UAH 6.3 billion, which corresponds to the indicator of exchange rate differences, which are not a monetary operation. Thus, the company’s production activity did not show a positive financial result. This is due to the development of the regulatory system for a new model of the electricity market, which today offers great preferences to foreign manufacturers,” DTEK said.

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FORTUNE-TELLING ON ST. ANDREW`S EVENING WILL BE ORGANIZED NEAR KYIV

On December, 7 and 8 Ancient Kyiv in the Principality of Kyivan Rus («Kyivan Rus Park») invites to join the thrilling St. Andrew’s evening and spend the weekend in the magical atmosphere of antiquity. Tasty dishes prepared on open fire, warm tavern, ancient fortune telling and rites, walks on a horseback, museums and expositions, and even more will be waiting for the guests in a real, live medieval city.
Ancient Kyiv opens at 10:00. The program starts at 13:30 and lasts till 18:00.
The ticket price: a full adult ticket – 190.00 UAH, for pensioners and students – 150.00 UAH; for schoolchildren – 80.00 UAH, for preschool children – for free.
Ancient Kyiv in the «Kyivan Rus Park» is situated in the vill. Kopachiv, Obukhiv district, Kyiv region. Route taxis leave from Kyiv from the «Vydybitchi» metro station.
Detailed information on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for the adult ticket (at full price) to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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