KYIV. May 10 (Interfax-Ukraine) – U.S. venture fund General Catalyst has invested $110 million in IT company with Ukrainian roots Grammarly.
Bloomberg has reported that the startup makes software that underlines awkward words and phrases in the user’s writing and makes suggestions, similar to a feature in Microsoft Word.
“The software tailors the tone and word choice of personal or professional writing for the 6.9 million people using the tool daily, many of whom interact with the service through a web browser extension for Google Chrome,” Bloomberg said.
According to a website of the company, Grammarly has offices in San Francisco, New York and Kyiv.
KYIV. May 10 (Interfax-Ukraine) – Public joint-stock company Ukrgasvydobuvannia intends using the proceeds of a $76 million equivalent loan from the European Bank for Reconstruction and Development (EBRD) and the European Investment Bank (EIB) for a project of increasing the production from existing wells owned and operated by the company, the EBRD has said on its website.
The proposed project will require the procurement of the following goods, works and services: gas-turbine and reciprocating compressors and mobile well workover rigs of different loading capacity.
Tendering for the above contracts is expected to begin in the third quarter of 2017.
Ukrgasvydobuvannia told Interfax-Ukraine that the deal has been signed in a form typical for urgent procurement: first tenders are held, then agreements with banks are signed and the funds are provided.
KYIV. May 5 (Interfax-Ukraine) – DTZ international consulting company in Ukraine (Kyiv) has conducted rebranding and from May 1, 2017 changed its name to Cushman & Wakefield, according to a press release from the company.
“The rebranding occurred as a result of the merger of DTZ and Cushman & Wakefield, which led to the creation of one of the world’s leaders that provides consulting services in the field of commercial real estate,” DTZ said in an official letter to clients and partners.
According to the company, the change in the brand did not affect the composition of the management and the DTZ team in Ukraine, they will continue working in the former office.
DTZ was founded by Chesshire Gibson, which began operations in Birmingham (the United Kingdom) in 1784. It provides comprehensive services and solutions for investment, leasing, management and maintenance of real estate, as well as management of construction, assets, investments, projects and object evaluation.
Cushman & Wakefield was founded in 1917 and is the leading consultant in the field of commercial real estate with an annual income of over $6 billion. The company has about 45,000 employees in more than 70 countries.
KYIV. May 5 (Interfax-Ukraine) – Ukraine’s Economic Development and Trade Ministry on April 26, 2017 placed the Yavoriv industrial park to the register of industrial parks. The park is the 19th park on the register.
According to a ministry’s report issued on Wednesday, a transport hub is located on the territory of the park going to Nemyriv and then crossing the customs checkpoint in Rava-Ruska to Zamosc (Poland); as well as going to Yavoriv following M10 highway to Lviv then to Krakovets and crossing the customs checkpoint to Jaroslaw (Poland).
The Hrushiv-Budomierz customs checkpoint is located 5 km far from the park. One can get to Lubaczow in Poland crossing this checkpoint.
Yavoriv district council initiated the creation of the park on 40 ha. The park has been created for the period of 30 years to develop Yavoriv district and increase its competitiveness thanks to stepping up investments activities.
KYIV. May 5 (Interfax-Ukraine) – Dniprovsky steel works, part of the ISD corporation, was the largest recipient of VAT in April 2017. The company received UAH 1.205 billion in April and UAH 647.8 million in March for the first time this year.
The State Treasury Service reported on Thursday that State Food-Grain Corporation received UAH 882.5 million of refunds (in March nothing was refunded), and the leader of the first three months – Kernel-Trade got UAH 667.4 million in April.
Other largest VAT recipients were ArcelorMittal Kryvyi Rih with UAH 453.8 million, Mariupol Illich Steel Works with UAH 376.3 million and Zaporizhstal with UAH 296.9 million, Suntrade with UAH 237.7 million, Radekhiv Tsukor with UAH 195.4 million, Cargill with UAH 191.9 million and ADM Trading Ukraine with UAH 185.1 million.
Poltava Mining received UAH 177.7 million in April, Nibulon – UAH 175.2 million and Lebedyn Seed Plant – UAH 164.7 million.
In general, UAH 11.09 billion was refunded in April, which is 11.8% more than in March 2017 and 55.5% more than in April 2016.
KYIV. May 5 (Interfax-Ukraine) – Ukraine’s national budget revenue totaled UAH 259.78 billion in January-April 2017, which is 18.9% or UAH 41.21 billion above the revenue target for the period, the State Treasury Service has reported.
Revenue increased by 51.1% or UAH 87.84 billion compared with the same period of 2016, due to receipt by the special fund on April 28 of UAH 30 billion (about $1.1 billion) in special confiscations and receipt in April of UAH 10 billion from the National Bank of Ukraine (NBU), which only began paying into the budget last year in October.
The budget received UAH 85.03 billion in April alone, 42.2% above target and nearly double the revenue figure for April 2016.
Tax revenue increased by 24.8%, to UAH 109.5 billion and customs revenue increased by 30.5%, to UAH 91.07 billion, which was 3.7% and 13.6% above target respectively.
In April, tax revenue totaled UAH 18.48 billion, 7.6% less year-on-year and 13.2% below target. But customs revenue increased 27.3% year-on-year, to UAH 24.22 billion, 13.5% above target. As a result, overall budget revenue in April was 0.2% above target and 9.4% higher than in April 2016.
The Treasury also said revenue to local budgets increased 40.5% in the four months of 2017 year-on-year, to UAH 61.71 billion, including an increase of 49.8%, to UAH 18.08 billion in April alone.
Ukraine’s 2017 national budget stipulates revenue totaling UAH 731.03 billion and UAH 800.13 billion, representing increases of 18.6% and 16.8% respectively over the actual indicators in 2016.
