Business news from Ukraine

Business news from Ukraine

INTERNATIONAL BUS CARRIER ECOLINES RESUMES TRAFFIC FROM KYIV TO POLISH CITIES FROM JUNE 25

The international bus carrier Ecolines, which includes the Ukrainian carrier Autolux, is resuming trips from Kyiv to Gdansk and Torun (Poland) from June 25.
According to the company’s website, it is also planned to resume trips from Kyiv to Zielona Gora from July 1.
As previously reported, Ecolines launched traffic from Kyiv to Wroclaw on June 22, and from Kyiv and Odesa to Minsk on June 25.

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HUNGARY TO OPEN CHECKPOINTS ON BORDER WITH UKRAINE

Hungary will open all checkpoints on the border with Ukraine from Monday, June 29, Minister of Foreign Affairs and Trade of Hungary Peter Szijjarto has said.
“On Monday, next week, we will open all checkpoints between Hungary and Ukraine… Thus, we will ensure the movement across the border. However, the rules of entering another country will remain in effect,” he said during a joint press briefing with his Ukrainian counterpart, following the fourth meeting of the Joint Intergovernmental Ukrainian-Hungarian Commission on Economic Cooperation in Kyiv on Thursday.
The minister also said that the rules for entering Hungary will not change: Hungarian citizens will be able to enter the country without restrictions, and Ukrainians will transit Hungary or move at a maximum distance of 30 kilometers for 24 hours.
Szijjarto noted that he could not voice the dates of resumption of air and railway traffic between Ukraine and Hungary so far.

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EBRD WANTS TO CONTINUE WORK WITH SECURITIES COMMISSION TO DEVELOP CAPITAL MARKET

The European Bank for Reconstruction and Development (EBRD) is ready to continue work with the National Securities and Stock Market Commission on capital market development initiatives, the bank’s press service has said.
“We look forward to working with the securities commission on other capital market development initiatives,” Matteo Patrone, the EBRD Managing Director for Eastern Europe and the Caucasus, said.
“The European Bank for Reconstruction and Development has worked closely with the National Securities and Stock Market Commission of Ukraine on the preparation of this framework. The work was also coordinated with and supported by the International Swaps and Derivatives Association (ISDA). The EBRD welcomes the approval as an important new chapter in the development of Ukraine’s capital market,” the bank said on its website.
“The new law will contribute to the establishment of a derivatives market in Ukraine,” Patrone said.
“The new law puts Ukraine on the map for the derivatives market and for netting, allowing companies to safely and efficiently hedge their risk and exposure, thus contributing to the development of a local currency financial market,” the report says.
The EBRD is the largest international financial investor in Ukraine. To date, the bank has made a cumulative commitment of almost EUR15 billion through 466 projects in the country.

CAPITAL LLC COMMISSIONS SECOND PHASE OF OBERIG CLINIC

Capital LLC (Kapital, Kyiv) has commissioned the second phase of the Oberig clinic, co-owner of Oberig and the Milk Alliance group of companies Oleksandr Derkach said on Facebook.
“As you already understood from my previous posts, our construction was completed. The second phase of the Oberig clinic was commissioned, and we began to receive the first patients there. Some 25,000 square meters, seven above ground floors and three underground, a large parking lot for employees and visitors, a charger station for electric vehicles, etc. Built in 2 years,” he wrote.
As reported, the beneficiaries of Capital LLC are Derkach and the director general of the Oberig clinic (Kyiv), Viktor Rybchuk.
Capital LLC was registered in 2005. Its core business is specialized medical practice.
The Oberig Universal Clinic medical center, one of the largest private investment projects in the field of healthcare in Ukraine, began work in 2008.
At the end of 2017, Capital LLC, within the framework of business social partnership and following the results of the won competition, began the construction of the second phase of the Oberig clinic in the territory of Kyiv City Clinical Hospital No. 14 in Zoolohichna Street.

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FLIGHTS BETWEEN UKRAINE AND TURKEY WILL BE RESTORED FROM JULY 1

President of Ukraine Volodymyr Zelensky following a conversation with Turkish President Recep Tayyip Erdogan has said that some flights between Ukraine and Turkey will be restored from July 1. “From July 1, some flights between Turkey and Ukraine will be restored. I agree with Recep Tayyip Erdogan that this will give an impetus to the restoration of the tourism industry. Thank you for the humanitarian assistance. We are deepening strategic partnership between Ukraine and Turkey in all areas of common interest,” he wrote on Twitter.
Erdogan noted that Turkey will do everything to make Ukrainian tourists feel comfortable and safe.
“Taking into account the traditionally high level of interaction and contacts between the two countries, the parties agreed on the need to restore air communications as soon as quarantine measures are weakened. The leaders noted that they consider July 1 as the date of resumption of flights between Ukraine and Turkey,” the presidential press service said.
The heads of state discussed the world situation around the coronavirus pandemic, as well as measures to overcome the disease and minimize its consequences for the society and the economies of the two states.
Erdogan also inquired about the state of health of the first lady of Ukraine, sent her greetings and wished a speedy recovery.
Zelensky thanked the Turkish people and the president of Turkey personally for the humanitarian assistance provided to Ukraine to combat COVID-19.

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DTEK ENERGY HOLDING OPPOSES RISE IN UKRENERGO TARIFF FOR ELECTRICITY TRANSMISSION

DTEK Energy Holding strongly opposes the increase in tariffs of Ukrenergo for transmission of electricity proposed in the draft resolution of the National Energy and Utilities Regulatory Commission of Ukraine (NEURC), DTEK’s press service has said.
“We are categorically against such decisions that will lead to an increase in tariffs for end consumers. No industry in the country will be able to withstand such an increase in the tariff for Ukrenergo. So, such regulator’s steps can be named as a diversion of the new market,” Vitaliy Butenko, the director general of D.Trading, said after the commission meeting, at which, in particular, the issue of increasing the Ukrenergo tariff for transmission by almost four times since August 1 was considered.
According to Butenko, in order to stabilize the situation, the commission should offer compromise solutions, and not incite hostility between market participants.
According to him, an example of such a compromise is the signing by the government of a memorandum with investors on the conditions for supporting renewable energy, which will allow reducing financial burden on the energy market and paying off debts to investors. At the same time, a possible increase in the tariffs of the transmission system operator, in his opinion, will lead to a serious confrontation in the market