Business news from Ukraine

NUMBER OF UKRAINIAN HOUSEHOLDS WITH ROOF SOLAR POWER PLANTS 18% UP IN Q1 2017

KYIV. May 11 (Interfax-Ukraine) – The number of households that installed roof solar power plants and selling power at the feed-in tariff grew by 18% in January-March 2017 or by 200 households, to 1,309, according to a posting on the website of the State Agency on Energy Efficiency and Energy Saving of Ukraine.
The agency said that over the period the installed capacity of these plants grew by 20% or 3.35 MW, to 20.05 MW.
As reported, according to Ukrainian legislation, households has the right to install solar power plants with a capacity of up to 30 kW and sell extra power according to the feed-in tariff.

UKRAINE, TURKEY WANT TO COOPERATE IN CREATION OF UAVS

KYIV. May 11 (Interfax-Ukraine) – Ukraine and Turkey are preparing expansion of defense cooperation. The sides seek to establish cooperate in creation of unmanned aerial vehicles (UAV), including unmanned combat aerial vehicles (UCAV), the press service of the Ukroboronprom State Concern has reported.
At the 13th International Defense Industry Fair IDEF 2017 held in Istanbul on May 9 through May 12 Antonov State Enterprise (Kyiv) and Turkish Aerospace Industries (TAI) signed a memorandum of cooperation to design and manufacture various types of UAV, including UCAV, for the needs of the Armed Forces of Ukraine.
The new agreements have been signed with participation of Secretary of the National Security and Defense Council of Ukraine (NSDC) Oleksandr Turchynov.
TAI is a Turkish technological center for designing, manufacturing, integration, modernization and life cycle support of integrated aerospace systems.
Antonov state enterprise is the leading Ukrainian developer and manufacturer of aircraft, the recognized world’s leader in the niche of transport aircraft for wide purposes. The company cooperates with 76 countries. According to the government decision, Antonov has been part of Ukroboronprom state concern since April 2015.
Antonov is working on the creation of multifunctional operative and tactical unmanned aircraft system Horlytsia, which flight range is more than 1,000 km long. The delivery of new unmanned vehicles to the Armed Forces of Ukraine could start in 2018 if the financing is provided.

EU COUNCIL APPROVES DECISION ON VISA-FREE REGIME FOR UKRAINIANS

KYIV. May 11 (Interfax-Ukraine) – The Council of the European Union at the level of the Ministers of Agriculture and Fisheries at a meeting on May 11 supported the decision on the liberalization of the visa regime with Ukraine.
The ministers reviewed the relevant Regulation of the European Parliament and the Council of the European Union, which amends Regulation No. 539/2001, which specifies third countries whose citizens, when crossing external borders, must have a visa, and countries whose citizens are exempt from such a requirement (Ukraine).
“Ukrainian citizens with a biometric passport travelling to the EU for up to 90 days for business, tourist or family purposes will no longer need a visa,” the press service of the Council of the EU said in a statement on Thursday.
“These measures will not apply to Ireland and the United Kingdom, in accordance with the protocols annexed to the EU treaties. The visa regime of these member states remains subject to their national legislation,” the statement reads.
The decision takes effect within 20 days after it is published.

KREDOBANK NET PROFIT 52.3% UP IN Q1, 2017

KYIV. May 10 (Interfax-Ukraine) – The net profit of Kredobank (Kyiv) in January-March 2017 amounted to UAH 101.414 million, which is 52.3% more compared to the corresponding period of 2016, according to the financial statements published on the bank’s website.
According to the document, Kredobank’s net interest income for the first three months increased by 14.6% compared to the corresponding period last year, to UAH 249.057 million. Excluding expenses for formation of reserves, net interest income amounted to UAH 215.158 million, or 9.5% more than in the first quarter of last year.
The bank also increased net commission income by 44.1%, to UAH 81.864 million.
Administrative and other operating expenses amounted to UAH 190.976 million, which is 36.4% more than a year earlier.
The balance sheet for January-March remained almost unchanged and by the end of the reporting period was UAH 11.175 billion.
The portfolio of loans and advance payments issued to customers increased by 7.1%, to UAH 5.989 billion, the deposit portfolio was up by 3.2%, to UAH 8.438 billion.