Business news from Ukraine

Business news from Ukraine

UKRAINE SHOULD CONSTRUCTIVELY ADDRESS QUALITY OF SOFTWARE FOR FUTURE TRADING WITH POWER

A drop in frequency on the synchronously interconnected Continental Europe system was registered on January 10, 2019 at around 21.00 and the causes of this drop are still under investigation by the European Network of Transmission System Operators for Electricity (ENTSO-E). ENTSO-E gave this information on Wednesday, January 16. The frequency drop was sufficient to alert the TSOs but did not at any moment endanger security of supply, the network said.
A mismeasurement on lines between Germany and Austria was identified and corrected by TenneT Germany. However, this mismeasurement cannot explain the frequency drop on January 10. The investigation, which is still on-going, is reviewing the significant variation in European production around 21.00 which coincided with changes in trade between different countries.
“Given the current automation process of Ukraine’s new electricity market, this incident forces us to seriously think about the quality of software and the timing of its testing. The synchronous area of the integrated power grid of Ukraine is much less than ENTSO-E and the consequences of software errors and inconsistencies more serious than just stopping the trade,” Chief Expert on technological systems, Head of the commercial accounting management group of national energy company Ukrenergo Oleksandr Karpenko said on his Facebook page.
As reported, the Cabinet of Ministers of Ukraine at the end of December 2018 approved an action plan for the harmonization of the united power grid of Ukraine with ENTSO-E.

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EPIPHANY HOLIDAY WILL BE CELEBRATED BY ANCIENT TRADITIONS NEAR KYIV

On January 19 and 20, 2019 Ancient Kiev in the Principality of Kievan Rus invites to the celebration of Epiphany Holiday according to the ancient traditions. In the program: a religious procession from the church to the Forest lake and swimming in the ice-hole (on Saturday, January 19), a play about John the Baptist, Christmas nativity scene and the master-class on learning and singing carols, equestrian performances, an interactive musical performance with special effects, hot meals and warm drinks, winter funs, and traditional crafts fair.
Ancient Kyiv opens at 10:00. The program starts at 13:00.
The ticket price: a full adult ticket – 200.00 UAH, for pensioners and students – 100.00 UAH; for schoolchildren – 50.00 UAH, for preschool children – for free.
Ancient Kyiv in the Principality of Kyivan Rus is not far from modern Kyiv – only in a 45-minutes’ drive – in the Kyiv region, Obukhiv district, vill. Kopachiv. Route taxis leave from Kyiv from the «Vydybitchi» metro station, according to the schedule on the website.
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for the adult ticket (at full price) to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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PARLIAMENT INTENDS TO RAISE EXPORT DUTIES ON SCRAP METAL

The Verkhovna Rada Committee on Industrial Policy and Entrepreneurship has supported the new “metallurgical law” initiated by the Radical Party of Oleh Liashko, which proposes raising the current export duty on scrap metal from EUR 42 per tonne to EUR 54 per tonne for three years. According to a press release of the parliamentary committee, citing its chairman Viktor Halasiuk, this bill, due to the increase in export duties, will eliminate the shortage of raw materials for steel mills and keep jobs for Ukrainians.
At the same time, it is noted that starting from 2016, thanks to the adopted laws on increasing and extending the export duty on scrap metal from EUR 10/tonne to EUR 30/tonne, and then to EUR 42/tonne, positive trends are observed in Ukraine in the provision of metallurgical plants with these raw materials. For the third year in a row, the volume of domestic scrap metal supplies has been growing, the scrap metal deficit decreased from 850,000 tonnes to 300,000 tonnes. Today, this resource provides 98% of the needs of the metallurgical industry.

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UKRAINE EXPORTS NITROGEN FERTILIZERS FOR $64 MLN, IMPORTS FOR $288 MLN IN 2018

Ukraine in 2018 exported 341,442 tonnes of nitrogen mineral or chemical fertilizers (according to foreign economic activity code 3102) for $64.446 million and imported 1.358 million tonnes for $288.002 million.
According to the State Fiscal Service, nitrogen fertilizers were delivered to Turkey for $25.092 million, China for $10.3 million, to Romania for $7.584 million, and other countries for $21.47 million.
Last year, imports of nitrogen fertilizers were made from Belarus for $59.684 million, Uzbekistan for $46.235 million, Lithuania for $33.713 million, and other countries for $148.371 million.
Thus, exports of fertilizers last year halved, and in value terms fell by almost two times. Imports of fertilizers decreased by 22.1%, in value terms by 14.6%.
In addition, in 2018 Ukraine exported 40,209 tonnes of ammonia (code 2814) for $9.498 million, imported 441,607 tonnes for $137.333 million.
In 2018, ammonia was exported to Turkey ($4.54 million), Morocco ($2.414 million), Bulgaria ($1.921 million), other countries ($623,000). In 2018, ammonia was imported from the Russian Federation ($134.563 million), Belarus ($2.754 million), Germany ($14,000), and other countries ($2,000).

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