Business news from Ukraine

Business news from Ukraine

MEN’S SQUASH TEAM OF UKRAINE TAKES BRONZE IN EUROPEAN TEAM CHAMPIONSHIPS IN LISBON

The Ukrainian men’s national squash team has won a bronze medal in the European Team Championships Division 3 in Lisbon (Portugal), the Squash Federation of Ukraine has said on its website.
The Ukrainian squad defeated the Norwegian team with a 2-1 score in the match for the third place.
Squash veterans Kostiantyn Rybalchenko and Valeriy Fedoruk, along with young members Yaroslav Bagan, Dmytro Pogrebniak, and Artur Sikora were members of Ukraine’s team.

Team statistics and the final tally are below:
Playoffs matches
Match for places 1-8
Ukraine – Slovenia: 4-0
Valeriy Fedoruk – Martin Mosnik, 3-0 (11-7, 11-6, 11-5)
Yaroslav Bagan – Mark Hafner, 3-1 (11-13, 11-8, 11-5, 5-11, 11-7)
Kostiantyn Rybalchenko – Blaž Porenta, 3-0 (11-6, 11-3, 11-8)
Artur Sikora – Jošt Dolinar, 3-0 (11-4, 11-6, 11-5)

Match for places 1-8
Ukraine – Poland: 1-2
Valery Fedoruk – Adam Pelczynski, 3-1 (11-3, 5-11, 11-6, 11-3)
Yaroslav Bagan – Adrian Marszał, 0-3 (4-11, 4-11, 2-11)
Kostiantyn Rybalchenko – Piotr Hemmerling, 2-2 (11–4, 5–11, 17–15, 8–11)
Artur Sikora – Filip Jarota, 0-3 (8-11, 9-11, 9-11)

Match for 3rd place
Ukraine –Norway: 2-1
Valeriy Fedoruk – Sindre S. Roaldsøy, 3-0 (11-6, 11-4, 11-4)
Yaroslav Bagan – Trym Aasness, 0-3 (7-11, 3-11, 8-11)
Kostiantyn Rybalchenko – Gard Aasness, 3-0 (12-10, 11-7, 11-5)
Artur Sikora – Patrick Hansen, 2-2 (7-11, 7-11, 11-9, 11-8)

The final standing of the teams:
Poland
Austria
Ukraine
Norway
Russia
Luxembourg
Slovenia
Malta

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EUROPEAN INVESTMENT BANK WILL ISSUE GRANT TO DEVELOP HIGHWAY CONSTRUCTION IN UKRAINE

The European Investment Bank (EIB) will provide grant assistance to the State Agency of Automobile Roads of Ukraine (Ukravtodor) to develop a feasibility study for the construction of the Lviv-Mukachevo-Uzhgorod highway with a branch to the Hungarian border, the agency’s press service has reported. “This corridor is very important for Ukraine, because the export flow to the countries of Southern and South-Western Europe is directed through it. In addition, the new road will also provide a stable communication with Zakarpattia region,” Oleksandr Kava, the adviser to the Ukravtodor head, said.
According to the report, the new road will connect with the Hungarian M3 highway through the Dyida checkpoint and the Slovak D1 highway through the Uzhgorod checkpoint.
The maximum speed on the highway will be 130 km/h.
“This road will reduce the trip time in the direction of Lviv-Mukachevo to an hour and a half instead of the current 3.5 hours,” the report says.

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UKRAINIAN GOVERNMENT ANNOUNCES TENDER TO DEVELOP SHELF UNDER PRODUCT SHARING AGREEMENT

The Cabinet of Ministers of Ukraine on April 12 announced a tender to develop the Dolphin Black Sea shelf section under the product sharing agreement (PSA). Government resolution No. 70 dated April 12, 2019 has been published in the Uriadovy Kurier government’s newspaper. The term of the PSA is 50 years. The winner of the tender must provide a geological survey of the subsoil at the site, including the drilling of at least five wells during the first stage (five years) of geological exploration. The minimum investment that must be made in this period will be determined by the results of the tender, but must be at least UAH 1.5 billion.
The maximum part of compensation products, thanks to which the investor can be compensated for his expenses, is 70% of the total volume of production. The share of the state in profitable products should be at least 11% of its total volume.
In order to promote the holding of a fair tender, persons who have special permits to use subsoil but do not properly implement the subsoil programs are not allowed to participate in the tender.
As reported, the initiative to develop the Dolphin section belongs to Frontera Resources, engaged in the exploration and production of gas and oil.

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UKRAINE SIGNIFICANTLY INCREASES IMPORTS OF CHEESE IN Q1 2019

Ukraine in January-March 2019 exported 1,650 tonnes of cheese, which was 14% less that in January-March 2018.
According to customs statistics released by Ukraine’s State Fiscal Service (SFS), cheese exports in monetary terms amounted to $5.8 million, which was 19% lower than the figure for the first three months of 2018.
At the same time, imports of cheese in January-March 2019 totaled 4,000 tonnes, which was 43% more than in January-March last year. The imports in monetary terms increased 31%, to $18.9 million.
Exports of Ukrainian creamery butter in January-March 2019 decreased 35%, to 5,900 tonnes. The exports in monetary terms decreased 38%, to $23.8 million. Imports of creamery butter, according to the SFS, decreased by 33%, to 211 tonnes ($1.44 million).
In January-March 2019, exports of condensed milk and cream decreased by 23%, to 5,900 tonnes. Ukraine supplied condensed milk and cream to the tune of $11.3million, which was 13.6% less than in January-March 2018. Their imports decreased 10.6%, to 468 tonnes ($970,000).
As was reported, Ukraine in 2018 imported 13,720 tonnes of cheese (37.1% up from 2017) and exported 8,340 tonnes of cheese (7.8% down from 2017).
Last year, exports of butter remained at the level of 2017, imports increased slightly, to 1,100 tonnes.
Exports of condensed milk and cream totaled 35,550 tonnes (24.1% down from 2017), imports were 2,360 tonnes (38.6% up from 2017).

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