Business news from Ukraine

Business news from Ukraine

POLAND, HUNGARY, SLOVAKIA, ROMANIA ARE MAJOR BUYERS OF UKRAINIAN ELECTRICITY

Ukraine in January-October 2019 increased electricity exports by 1.5% (by 77.1 million kWh) compared to the same period in 2018, to 5.127 billion kWh, the Ministry of Energy and Environment Protection has told the agency. Electricity supplies from the “energy island of Burshtyn TPP” to Hungary, Slovakia and Romania increased by 10.9% (by 339.2 million kWh), to 3.442 billion kWh.
Electricity supplies to Poland decreased by 2.5% (by 29.3 million kWh), to 1.132 billion kWh.
Electricity supplies to Moldova amounted to 552.7 million kWh, which is 29.6% less (232.8 million kWh) than in January-October 2018.
Ukrainian electricity was not exported to Belarus and Russia for January-October 2018 and 2019.
At the same time, Ukraine in July 2019 resumed commercial import of electricity, the total volume of which since the beginning of this year amounted to 1.538 million kWh. In particular, 573.9 million kWh were supplied from Slovakia, 644.9 million kWh from Belarus, and 191.5 million kWh from Hungary.
In addition, within technologically exchanged energy flows linked to synchronous operation of Ukrainian power grid with the power systems of neighbor countries 29.8 million kWh of electricity was imported from Russia and 0.8 million from Belarus.

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EBRD AND GLOBAL ENVIRONMENT FACILITY WILL ISSUE $55.8 MLN TO SUPPORT BIOENERGY IN UKRAINE

The European Bank for Reconstruction and Development (EBRD) together with the Global Environment Facility (GEF) will finance a program of support for bioenergy development worth over $50 million, Lesya Kuzmenko, the EBRD Deputy Head in Ukraine, has said.
“The program is aimed at technologies and systems for collection, storage and processing of agrobiomass. We plan to mobilize about $50 million for its implementation,” she said at the official opening of the program “Sustainable Bioenergy Value Chain Innovation” in Ukraine.
The leading engineer of the EBRD in Ukraine, Tetiana Markuta, clarified that the total amount of the four-year program is $55.8 million, and it is planned to launch it from the fourth quarter of 2019. According to her, the Global Environment Facility provides grant support under the program.
Most of these funds – $50 million – will be issued for lending to bioenergy projects in the private sector, and another $3.5 million for incentive grants, she said. The remaining funds are to be used for information support and educational projects in the field of bioenergy.
“We will look at options for possible stimulation of the development of bioenergy within the framework of the program and choose two or three areas that will be most beneficial for Ukraine,” she added.
She noted that the support is designed for companies in the field of agriculture and logistics, companies that can work with waste, as well as those that produce and process biomass.

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OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF NOVEMBER 21

Official rates of banking metals from national bank as of November 21

One troy ounce=31.10 grams

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UKRAINIAN GOVERNMENT DIGITALIZES RED TAPE PROCEDURES

The Cabinet of Ministers of Ukraine has implemented some measures to digitalize red tape procedures and circulation of documents, according to a posting on the website of the government. “Online, it will also be possible to recover lost or stolen driver’s licenses using the online procedure. Soon they can be ordered through the driver’s electronic account or through the unified public administrative services portal. The new rules so far relate to the licenses issued after January 1, 2013,” the government said.
In particular, the Cabinet of Ministers approved a bill that will simplify the receipt of free legal assistance for low-income citizens. It would be possible to apply without a certificate of income. Getting this help takes a lot of time and will require a lot of effort from people. The bill will soon be submitted to the Verkhovna Rada.
The Cabinet of Ministers of Ukraine introduced the compensation of postal costs in court cases for low-income citizens by its decision.
“It allows lawyers to reimburse postal expenses in cases where they provide free legal assistance to low-income and socially unprotected groups of the population. In particular, the state will reimburse the cost of sending registered letters in appeal proceedings that were previously paid by citizens themselves. This will improve the quality of assistance to people who cannot pay for it,” the government said.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 21/11/19

National bank of Ukraine’s official rates as of 21/11/19

Source: National Bank of Ukraine

INTELLECTUAL PROPERTY DEPARTMENT TO BE CREATED IN ECONOMY MINISTRY – DEPUTY MINISTER

Soon a separate department which will regulate and protect intellectual property will be created in the Ministry of Economic Development, Trade and Agriculture, Deputy Minister Dmytro Romanovych has said.
During a speech at the Media Law conference on Tuesday, he said that the issue of protecting intellectual property is one of eight priorities that the minister identified as promising.
“This is one of our priorities. We have eight of them. You also know that in fact we are now representing two and a half ministries. Therefore, there are a lot of priorities, as well as the areas for which the Economy Ministry is responsible. Being among our eight priorities is a sign that that the field of intellectual property is a very important industry,” Romanovych said.