Business news from Ukraine

Business news from Ukraine

UKRAINE PLANS TO PRESENT INVESTMENT PROJECT ON CONSTRUCTION OF ICE ARENA IN KYIV WORTH UAH 1.7 BLN

Ukraine at the Ukraine Reform Conference in Canada (Toronto) in July 2019 plans to present a government investment project on construction of an ice arena in Kyiv for UAH 1.68 billion, the Ministry of Economic Development and Trade of Ukraine has reported. The proposal was announced by First Deputy Prime Minister, Minister of Economic Development and Trade Stepan Kubiv at the meeting of the interdepartmental commission on the issues of the investment projects headed by him held at the end of April.
The commission supported his initiative to provide the first budget financing of the project now, rather than in July, as planned, in order to begin developing project documentation and have time to prepare a project presentation for the conference in Toronto.
According to the minutes of the meeting of the commission, the funding for this project from the national budget has not yet been provided.
The executor of the project is the state-owned enterprise central training sport base Ice Stadium. Its implementation is scheduled for 2019-2021, and in 2019, it is planned to allocate UAH 5 million.

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U.S. DEPARTMENT OF AGRICULTURE PREDICTS EXPORT OF VEGETABLE OIL FROM UKRAINE AT 6.12 MLN TONNES

The U.S. Department of Agriculture (USDA) predicts that export of vegetable oil from Ukraine in the 2019/20 agricultural year (September-August) will be 6.12 million tonnes, which is 90,000 tonnes less than in 2018/19 agri-year (6.21 million tonnes).
According to the May report, forecast for oilseed crushing for 2019/20 agri-year were improved by 150,000 tonnes, to 16.8 million tonnes.
USDA said that next agri-year sunflower seed production in Ukraine could decrease by 200,000 tonnes year-over-year, to 14.8 million tonnes, meal – by 123,000 tonnes, to 5.99 million tonnes and oil – by 129,000 tonnes, to 6.24 million tonnes.
Export of sunflower seeds in 2019/20 agri-year should grow by 50%, to 150,000 tonnes, meal – by 6%, to 4.7 million tonnes and oil – by 3.4%, to 5.6 million tonnes.

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PUNCTUALITY OF UKRAINIAN AIRLINES INCREASES TO 87%

Ukrainian airlines in April 2019 serviced 86.9% of flights of the total number of flights serviced at Ukrainian airports within the 15 minute deviation from the timetable, which is 0.7 percentage points (p.p.) better than the figure for March 2019 (86.2%), according to a posting on the website of the Infrastructure Ministry of Ukraine.
According to the ministry, in April, Ukrainian airlines serviced 4,099 flights.
The punctuality of foreign airlines in March compared with January increased to 85.4% from 87.1%, while the number of flights totaled 2,954.
Of the Ukrainian airlines that made more than 50 flights a month in April, Motor Sich remains the most punctual, with 98.8% and the number of flights 242.
Windrose is second with 92.6% and with the number of 363.
Punctuality of Ukraine’s largest airline in the market – Ukraine International Airlines – was 88.8%, while the number of flights serviced was 2,815.
The indicators in April for Bukovyna and SkyUp were 80% and 73.4% with 100 and 305 flights respectively.
Czech Airlines, Alitalia, Air Arabia, EllinAir, Aegean Airlines, Air Malta, Aglie Azur, Bulgaria and Air Tarom were ranked the top of the April punctuality rating among foreign airlines with the 100% punctuality, the number of their flights was from one to 32 per month.
Irish Ryanair had the best performance among low cost airlines – 91.1% with 258 flights. Pegasus Airlines is second with 87.9% and 99 flights. The figure of Hungarian Wizz Air was 85.9% with 567 flights.

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YULIA TYMOSHENKO PROPOSES STARTING DISCUSSION ON CREATION OF NEW COALITION IN PARLIAMENT, NEW GOVERNMENT

Leader of the parliamentary faction Batkivschyna Yulia Tymoshenko proposes to begin consultations on the creation of a new coalition in the Verkhovna Rada.
“I think that now we need to hold the main discussion about whether there will be extraordinary or next ones – we still have half a year to restart – we need to start a discussion about creating a new coalition in parliament and creating a new government of Ukraine with a completely new strategy and tactics of governing the country,” Tymoshenko said at a meeting of the conciliatory council of faction leaders and parliamentary groups on Monday.
She noted that, otherwise, time will be lost and chaos will continue, which today, according to the politician, exists in the country.

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UKRAINE EXPORTS 43.5 MLN TONNES OF GRAIN SINCE START OF 2018/2019 MARKETING YEAR

Ukraine since the beginning of the 2018/2019 marketing year (MY, July-June) and as of May 10, 2019 had exported 43.5 million tonnes of grain and leguminous crops, which is 25% more than on the same date of the previous MY.
According to the Ministry of Agrarian Policy and Food, farmers exported 24.9 million tonnes of corn, 14.45 million tonnes of wheat, and 3.4 million tonnes of barley.
Some 250,000 tonnes of flour had been also exported on the specified date.
As reported, with reference to the ministry, Ukraine exported 39.4 million tonnes of grain in the 2017/2018 MY.
According to the ministry, grain exports in the 2018/2019 MY are projected to be 49 million tonnes.

NUMBER OF GREEN CARD INSURANCE CONTRACTS IN UKRAINE UP BY 48.9%

The number of Green Card international insurance contracts signed by the companies that are members of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU) increased by 48.99% in January-March 2019 compared with January-March 2018, to 212,616.
According to the MTIBU’s website, the amount of accrued insurance premiums for this period rose by 39.87% compared to the same period last year, to UAH 453.5 million.
At the same time, the amount of compensation paid under the claims decreased by 12.41%, to EUR 2.473 million.
The number of paid claims fell by 8.49%, to 1,229.

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