Business news from Ukraine

Business news from Ukraine

CHANGES OF RETAIL PRICES OF PETROL IN UKRAINE

The average retail price of A-92 and A-95 petrol slightly grew from September 23 to September 30, by 0.04%.
The retail price of А-95 and A-95+ petrol did not change, according to Kyiv-based A-95 Consulting Group.
The average retail prices of diesel fuel rose by 0.04%, while the price of LPG dropped by 0.17%.
Changes in average retail prices of fuel in Ukraine, UAH per liter:

©Source: A-95 Consulting Company

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ELECTRONIC DOCUMENT EXCHANGE SYSTEM BETWEEN STATE BODIES AND MINISTRIES LAUNCHES

Minister of the Cabinet of Ministers of Ukraine Dmytro Dubilet says that the system of electronic document exchange between state bodies and ministries has begun work, he expects that paper document exchange will be minimized within one or two months.
“The system that allows not using conventional paper form works. But I’m sure that in October state agencies won’t be able to completely switch to it,” Dubilet said.
He noted that from this week the government began summarizing weekly statistics and working with each body generating paper documents separately.
“I think that gradually, over the course of one to two months we will reduce paperwork, with the exception of secret ones, to a minimum,” the minister added.

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COMPANIES FROM TURKEY, BELGIUM, NETHERLANDS, SINGAPORE, GREAT BRITAIN, US, QATAR, GERMANY SHOW INTEREST IN CONCESSION OF UKRAINIAN PORTS

Over 46 companies from 11 countries participated in the investment conference seeking for the projects related to transferring of Olvia stevedoring company and Kherson maritime merchandise port into concession, Ukrainian Sea Port Authority (USPA) reported.
According to the USPA, apart from the participants of Ukraine, the companies from Turkey, Belgium, the Netherlands, Singapore, Great Britain, Denmark, United States, Qatar, Georgia and Germany attended the conference.
Infrastructure Minister Vladyslav Krykliy and Chairman of Verkhovna Rada Committee on Transport and Infrastructure Yuriy Kysil have assured potential investors that all branches of power back implementation of the concession projects in the ports.
“Potential investors can expect that on a par with how they implement their projects in the port industry, the state will develop automobile and transport infrastructure. This will improve logistics throughout the country and load new capacities in the ports,” the report said.
According to USPA CEO Raivis Veckagans, tenders for pilot state stevedoring concession projects in Olvia stevedore and Kherson port open up new opportunities for the Ukrainian port industry to attract private investment in the development of port infrastructure, which have long been actively used in EU countries.
Required capital investment of both as estimated by international consultants amounts up to $65 million. These funds to be meant for modernization of existing port infrastructure, restoration of movable property in Kherson port, in Olvia the funds will be meant for reconstruction, modernization of existing facilities and construction of new port terminals.
This will increase the volume of transshipment of goods, revenues coming to the state and local budgets from the work of stevedores. Also, the cities of Mykolaiv and Kherson will receive mutual contributions from investors for the development of transport infrastructure related to the activities of ports.
The assets of the state stevedoring company in the Olvia stevedore to be transferred to the concession for a period of 35 years, and in the port of Kherson – for 30 years. At the same time, they will remain in state ownership and after the completion of concession agreements will be transferred to the state together with all the facilities in which the company invests, which will build or modernize them.

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UKRAINIAN LOW COST AIRLINE SKYUP TO LAUNCH FLIGHT LVIV-PARIS

The Ukrainian low cost airline SkyUp Airlines (Kyiv) will launch a direct flight from Lviv to Paris (Beauvais Airport) on November 9, 2019, according to the airline’s website. Flights in the Lviv-Paris direction with a ticket price from UAH 1,425 one way will depart every Wednesday and Saturday. Beauvais is an airport near Paris, to which most low cost airlines fly. The airport has everything needed for passengers: waiting rooms, pharmacies, food outlets, Wi-Fi, Duty Free. Beauvais also offers a convenient location of the terminal and a bus stop next to it.
As reported, earlier SkyUp launched Kyiv-Paris (Beauvais) flights for the winter flight program.

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CANADIAN COMPANY INTENDS TO ACQUIRE SHARES IN UKRAINIAN INSURER

Canada’s FFHL Group has announced its intent to acquire 29.08% of shares in PrJSC Universalna Insurance Company (Kyiv).
According to the National Commission for Securities and the Stock Market, earlier FFHL Group and affiliated persons did not hold shares of Universalna.
Earlier, the Antimonopoly Committee of Ukraine permitted Fairfax Financial Holdings Limited to purchase (through a subsidiary of FFHL Group Ltd.) shares of PrJSC Universalna Insurance Company, which will grant over 25% of the votes in the governing body of the insurance company.
The Antimonopoly Committee of Ukraine also allowed Fairfax Financial Holdings Limited to acquire shares of Universalna insurer through the newly created FFH Ukraine Holdings LLC, which will grant over 50% of the votes in the governing body of the insurer.
Universalna was founded in 1991, It provides services in the field of risk insurance. It offers services for 42 types of insurance. The company’s regional network has more than 300 points of sale throughout Ukraine.

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MAIN TRADE PARTNERS OF UKRAINE IN % FROM TOTAL VOLUME (IMPORT FROM OTHER COUNTRIES TO UKRAINE) IN JAN-JULY 2019

Main trade partners of Ukraine in % from total volume (import from other countries to Ukraine) in Jan-July 2019

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