Business news from Ukraine

Business news from Ukraine

TUSK TO ZELENSKY: LOOKING FORWARD FOR EU-UKRAINE SUMMIT IN JULY

President of the European Council Donald Tusk is waiting for the Ukraine-EU summit in July 2019 and talks about this over telephone with the winner of Ukraine’s presidential elections Volodymyr Zelensky. “First, good phone call with Ukraine’s President-elect Volodymyr Zelensky. I assured him of the EU’s steadfast support to Ukraine. Looking forward to our cooperation and EU-Ukraine Summit in July,” he wrote on Twitter on Tuesday.
Tusk also said that he had a telephone conversation with incumbent President Petro Poroshenko, “after 5 years of good cooperation.”
“The competitive, free and fair presidential elections with a peaceful hand over is the best proof of Ukraine’s progress and democracy,” the European Council president noted.

, , ,

VOLUME OF CONSTRUCTION WORK IN UKRAINE INCREASES BY 29.7% IN MARCH

The volume of construction work performed in Ukraine in March 2019 increased by 29.7% compared with March 2018, while the indicator in February 2019 compared with February 2018 grew by 19.4%, according to statistics. According to the data, the volume of construction work performed in March 2019 increased by 3% compared with February 2019.
According to the report, in March 2019 compared with March 2018 the volume of construction work decreased in residential construction – by 14.9%.
Nonresidential construction in March 2019 rose by 47.2% and in engineering – by 54.1%.
In March 2019 compared with February 2019, the volume of residential construction grew by 15%, nonresidential construction by 32.1%, and in engineering it grew by 37.7%.

,

RETAIL TRADE TURNOVER IN UKRAINE INCREASES BY 7.4% IN JAN-MARCH

Retail trade turnover in Ukraine in comparable prices in January-March 2019 increased by 7.4% compared to January-March 2018, to UAH 235.804 billion the State Statistics Service has reported.
According to its data, in March 2019 retail trade turnover compared with February 2019 increased by 13.9%, and compared with March 2018 it grew by 8.9%.
The largest increase in the retail trade turnover of enterprises (legal entities and individual entrepreneurs) in January-March 2019 compared with January-March 2018 was recorded in Kyiv and Vinnysia (each by 11.7% compared to the same period in 2018), Lviv (by 9.7%), Dnipropetrovsk (by 9.3%), Odesa (by 9.2%), Kharkiv (by 9%), Ivano-Frankivsk (by 8.2%), Ternopil (by 8.1%), Kherson, Zakarapattia and Donetsk (by 8%) regions.
The leaders in absolute terms of the volume of retail turnover in the first three months were: Kyiv city (UAH 45.055 billion), Dnipropetrovsk (UAH 22.210 billion), Kharkiv (UAH 19.148 billion), Kyiv (UAH 16.828 billion), Odesa (UAH 16.734 billion), and Lviv (UAH 14.724 billion) regions.
According to statistics, in Donetsk region, retail trade turnover in January-March increased 8% (to UAH 7.498 billion), Luhansk – by 4% (to UAH 2.198 billion).
The State Statistics Service said that the turnover of retail enterprises (legal entities) in March 2019 compared with March 2018 increased by 9.5%, and compared to February 2019 by 13.9%, to UAH 61.493 billion. In January-March 2019, the turnover of retail enterprises rose by 8.2%, to UAH 170.695 billion.
The wholesale turnover of enterprises in January-March 2019 compared with January-March 2018 decreased by 5.5% and amounted to UAH 500.32 billion.
As reported, the retail trade turnover of Ukraine in 2018 increased by 6.1%.
The State Statistics Service noted that the data are given excluding the temporarily occupied territory of the Autonomous Republic of Crimea, the city of Sevastopol and the area of the joint forces operation.

,

TAS GROUP BUYS PART OF ARENA CITY CENTER IN KYIV

Sergiy Tigipko’s TAS group of companies has bought part of the Arena City retail and office center at 1-3/2a Baseina Street in Kyiv.
According to the NV Business edition, with reference to several sources, the group of Tigipko acquired the center with an area of 14,000 square meters for $13-15 million. The deal did not include several premises on the ground floor that were previously sold.
According to the source, Dmytro Firtash’ Group D, which owned the asset, put it up for sale in 2018 at the initial price of about $20 million.
According to Olha Nasonova, the director general of Restaurant Consulting company, rental rates for offices in Arena City can reach $25-30 per square meter, for food courts from $50 per square meter.
TAS Group was founded in 1998. It has assets in financial and industrial sectors, agriculture, real estate, pharmaceuticals, and venture projects.

, , ,

NET PROFIT OF UKRAINIAN BANKS GROWS BY 51.8% IN Q1 2019

The net profit of Ukrainian banks, not taking into account insolvent ones, in January-March 2019 totaled UAH 13.167 billion, which is 51.8% more than a year ago, according to a posting on the website of the National Bank of Ukraine (NBU).
Revenue of Ukrainian banks over the period grew by 28.6%, to UAH 58.006 billion.
Expenses of the banking system in January-March 2019 accounted for UAH 44.839 billion, which is 23.1% more than a year ago.
The NBU wrote on its Facebook page that there are three factors for the growth of the banking system’s profit in Q1 2019: growth of net interest income of banks by 18%, to UAH 19.5 billion, growth of net commission income of banks by 18%, to UAH 9.9 billion and foreign exchange revaluation profit of UAH 3.8 billion.
According to the NBU, as of April 1, 2019, a total of 77 banks operated in Ukraine.

,

INTL TRADE COMMISSION DECIDES NOT TO RESTRICT IMPORT OF SYRINGES TO UKRAINE

The interagency commission for international trade at a meeting on April 17, 2019 decided not to restrict import of sterile hypodermic single use syringes imported to Ukraine from India, Turkey and China after discussing the results of the respective antidumping investigation, Ilyashev & Partners law firm has reported.
“Non-application of measures regarding all parties is an extremely rare result for an antidumping investigation,” Olena Omelchenko, Partner of Ilyashev & Partners Law Firm, Head of International Trade Practice, who headed the team protecting the interests of India’s Lifelong Meditech Private Limited, said.
As reported, the interagency commission for international trade on October 25, 2017 made a decision to launch antidumping investigation into syringes originated from India, Turkey and China under a complaint of PJSC Hemoplast and PrJSC Tyumen-Mediko-Smela.

, , ,