Business news from Ukraine

Business news from Ukraine

MACRO MONTHLY SUMMARY – MAIN STATISTICS OF UKRAINE IN JULY 2018

The growth of Ukraine’s gross domestic product (GDP) in April-June 2018 was 3.6% compared to the same period in 2017, while the growth rate in the first quarter was lower, namely 3.1%, the State Statistics Service of Ukraine said.
The indicator of economic sentiment in Ukraine, calculated by the State Statistics Service, in the third quarter of 2018 was 109.6% compared with 104% and 108.8% respectively in the second and first quarters of this year.
The negative balance of Ukraine’s foreign trade in goods in January-June 2018 increased by 33% compared to January-June 2017, to $2.658 billion (it was $2 billion in January-June 2017), the State Statistics Service of Ukraine said.
The deficit of Ukraine’s foreign trade in goods and services in the first half of 2018 was $653 million, which was 13.4 times higher than in the first half of 2017, the State Statistics Service said.
The surplus of Ukraine’s foreign trade in services in the first half of 2018 increased by 6% compared to the same period in 2017, to $2.826 billion (in the first half of 2017 some $2.658 billion), the State Statistics Service has said.
Consumer prices in Ukraine fell by 0.7% in July, while since the beginning of the year their growth was 3.6%, the State Statistics Service of Ukraine has reported.
Revenue of Ukraine’s national budget in July 2018 totaled UAH 64.46 billion, which is 0.1% more than the target, according to a Wednesday posting on the website of the State Treasury Service of Ukraine.
Money supply in Ukraine in July 2018 increased by 1.3%, to UAH 1.229 trillion, such preliminary data of monetary statistics are posted on the website of the National Bank of Ukraine (NBU).
The government of Ukraine has revised the medium-term strategy of public debt management by setting more ambitious goals to reduce direct state debt in relation to GDP, in particular, to 60% of GDP by the end of the current year, instead of the previously planned 62% of GDP.
Industrial production in Ukraine in July 2018 increased by 2.9% compared to July 2017, while in June this figure stood at 2.2%, in May at 2.5%, in April at 3%, the State Statistics Service has said.
The transport enterprises of Ukraine in January-July 2018 reduced transportation of goods by 1% compared to January-July 2017, to 356.3 million tonnes.
Transport companies in Ukraine in January-July 2018 decreased passenger transportation by 1.9% compared to January-July 2017, to 2.636 billion people.
The volume of completed construction works in Ukraine in July 2018 increased by 9.7% compared to July 2017, whereas growth in June 2018 from June 2017 was 2.2%.
Ukraine’s retail trade in January-July 2018 grew by 6% in comparable prices from January-July 2017, to UAH 505.763 billion, the State Statistics Service reported.

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UKRAINIAN EXCHANGE SHAREHOLDERS OFFER 36% IN CAPITAL TO BOHAI COMMODITY EXCHANGE

The shareholders of PJSC Ukrainian Exchange (Kyiv), following a meeting on August 31, has approved the decision to issue 14,063 additional shares and offer the securities to Bohai Commodity Exchange (BOCE). According to the report on the Facebook page of the Ukrainian Exchange, at present the share capital of the stock exchange consists of 25,000 shares with a nominal value of UAH 1,000.
Thus, in case of acceptance of the offer, BOCE could become the owner of 36% of the increased share capital of Ukrainian Exchange.
By another decision, the shareholders approved the candidacy of Yevhen Komisarov for the post of chairman of the board of Ukrainian Exchange and appointed Olha Bazhkova his first deputy.
In addition, the shareholders authorized the board to purchase software of the trading system for up to $1 million.
Earlier, BOCE studied the possibility of buying more than 25% of the shares in PJSC PFTS Stock Exchange and in early May 2018 asked the Antimonopoly Committee of Ukraine for preliminary conclusions on the acquisition of such a stake.
As reported, BOCE in late November 2016 won the auction of the State Property Fund of Ukraine to sell 99.9% of the shares of Ukrainian Bank for Reconstruction and Development, which were in state property. The final selling price was UAH 82.83 million.

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EBRD COULD ISSUE EUR35 MLN LOAN TO FRANCE’S SOUFFLET FOR WORK IN UKRAINE

The European Bank for Reconstruction and Development (EBRD) is considering a project for the issue of a EUR35 million multi-currency loan to France’s Soufflet Group for the work of its subsidiaries in Ukraine, Poland, Romania, Bulgaria, Kazakhstan, and Serbia. According to the bank, the board of its directors plans to discuss this project at a meeting on October 3 this year.
It is assumed that the funds will be used to replenish working capital necessary for the subsidiaries to work in the agro-market of these countries: from storage and processing into malt to trade in agricultural products.
Among the customers are Soufflet Agro Ukraine and Soufflet Agro Polska, which are 100% subsidiaries of Soufflet Group.
In the first half of 2018, Soufflet Agro Ukraine LLC saw revenue rise by 60.3%, to UAH 2.707 billion, while net profit fall by 2.8%, to UAH 109.93 million.
Last year the company more than doubled revenue, to UAH 3.835 billion, posting a net loss of UAH 23.23 million against UAH 31.49 million net profit a year earlier.

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