Business news from Ukraine

Business news from Ukraine

SAHAIDATSKA AGRICULTURAL FIRM TO INVEST UAH 11 MLN IN DAIRY FARM IN KIROVOHRAD REGION

KYIV. Aug 2 (Interfax-Ukraine) – Sahaidatska agricultural firm (Kirovohrad region) will invest about UAH 11 million in a dairy farm.

According to the website of Kirovohrad Regional State Administration, the project to construct and reconstruct the premises of the dairy farm is implemented on the site of a former poultry farm, where some buildings of the agricultural company were rebuilt and re-equipped. The company continues reconstruction of the former poultry farm to keep heifers.

The automated dairy farm complex will be able to hold 600 cows when the work is finished.

The launch of the first stage of the farm is scheduled for autumn 2016.

Now the company’s total stock is 400 animals.

Sahaidatska agricultural firm cultivates about 2,000 hectares of farmland in Ustynivka district in Kirovohrad region. The major crops are barley, corn, and sunflower.

IRAN TO MULL OIL SUPPLIES TO SLOVAKIA, CZECH REPUBLIC VIA UKRAINE

KYIV. Aug 2 (Interfax-Ukraine) – Iran will mull Ukraine’s proposal about the possibility of transiting Iranian oil through the Ukrainian pipeline system to Slovakia and the Czech Republic, Iranian Petroleum Minister Bijan Zangeneh has said after talks with Ukrainian Minister of Energy and Coal Industry Ihor Nasalyk in Tehran on August 1.

According to the Iran Petroleum Ministry, Tehran is also ready to start cooperation in oil supplies directly to Ukraine, despite the fact that Ukrainian oil refining capacities are small and the country imports fuel.

The Iranian media resources IRNA and Shana added Kyiv have asked Tehran to consider the possibility of Iranian gas transit through the Ukrainian territory.

Zangeneh said Ukraine is attractive in its advanced power engineering industry. The parties are currently working on cooperation in the field of turbines and gas compressors.

CREDIT AGRICOLE BANK’S PROFIT 27% UP IN H1, 2016

KYIV. Aug 2 (Interfax-Ukraine) – The profit of Credit Agricole Bank (Kyiv) in January-June 2016 amounted to UAH 316 million, which is 26.9% more than in the corresponding period of 2015 (UAH 249 million).

“According to interim financial statements, Credit Agricole Bank (Ukraine) in the first half of 2016 saw a net profit of UAH 316 million, which is UAH 67 million more than in the first half of 2015,” reads a posting on the bank’s website.

According to the report, this financial result was achieved due to stable revenues and lower risk costs: the cost of risks decreased significantly compared to the same period of 2015, by 19%, or UAH 125 million. Reduction in risk costs reflects the improvement of the environment. At the same time, the bank continued its conservative policy of reserve formation, which entailed the increase in the NPL coverage ratio from 71% at the beginning of 2016 to 77% at the end of the first half of 2016.

The ratio of regulatory capital adequacy at the end of June 2016 reached 17.84%, far exceeding the NBU norm of 10%.

Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2016 owned a 99.9961% stake in PJSC Credit Agricole Bank.

GROYSMAN: UKRAINE IMPROVES POSITIONS IN GOVERNMENT DEVELOPMENT INDEX-2016

KYIV. Aug 2 (Interfax-Ukraine) – The United Nations has published E-Government Development Index-2016 (EGDI), according to which Ukraine is 62nd among 193 countries and climbed by 25 points compared to 2014, Ukrainian Prime Minister Volodymyr Groysman has said.

“I think and I have always thought that e-technologies are an effective tool to provide for transparency and efficiency of authorities in modern conditions, fighting corruption, increasing the quality of servicing and attracting citizens. That’s why wherever I worked – in the city council, parliament and government – I have always actively worked on their introduction,” Groysman wrote on his Facebook page late on Saturday.

He said that Ukraine’s climbing in the rating is an important achievement.

Commenting on the further introduction of e-technologies by Ukrainian authorities, the prime minister said that today first e-government development is among top priorities at the national level.

“The top priority action plan says what must be done and achieved this year and then next three years, in particular, in the following directions: open data development, electronic procurement, electronic services, electronic relations, electronic identification and other things,” he wrote.

TOP-30 COUNTRIEST BY SHARE OF UKRAINIAN EXPORTS/IMPORTS

TOP-30 countriest by share of Ukrainian exports, January-May 2016

20

Excluding the temporarily occupied territories of the Autonomous Republic of Crimea, the city of Sevastopol and part of the anti-terrorist operation zone. Source: State Statistics Services

 

TOP-30 countriest by share of Ukrainian imports, January-May 2016

21

Excluding the temporarily occupied territories of the Autonomous Republic of Crimea, the city of Sevastopol and part of the anti-terrorist operation zone. Source: State Statistics Services

4G TECHNOLOGY FIRST TESTED IN UKRAINE

KYIV. Aug 1 (Interfax-Ukraine) – Intelltelecom (the Giraffe trademark) jointly with Ericsson and Huawei on July 29 first tested LTE TDD 4G technology in the 2,300 MHz range in Ukraine.

The company said in a press release that the highest speed of radio interface, voice and video calls and online high resolution video were tested at several terminals at once.

“During the test the peak speed was 220 megabit per second. The highest possible speed with combination of 20 MHz + 20 MHz in the 2,300 MHz range could be 224 megabit per second,” the company said.

Voice calls from LTE smartphone to another LTE smartphone, a GSM smartphone serviced by one of the Ukrainian mobile communications operators and a fixed communications phone were made.

The company said that 77 commercial networks in 43 countries are using LTE TDD standard now.

As reported, in February 2016 Ukrainian communications operators, including Intelltelecom, the National Commission for Communications Regulation (NCCR), Ukrainian State Center of Radio Frequencies (UCRF) and the research institute at the Defense Ministry signed an agreement with Britain’s Analysys Mason to conduct a study for the radio frequency spectrum for the implementation of the LTE communications standard (4G).

According to the public register, the founder and former president of Kyivstar Ihor Lytovchenko recently became the owner of Intellectual Communications LLC via Cypriot Magnilda Holdings Limited.