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Ukraine to strengthen anti corruption institutions: president


KIEV:  Authorities of Ukraine will further create and strengthen institutions tasked with fighting corruption in the country and ensure their independence from political interference, President of Ukraine Petro Poroshenko said friday during his visit in Lithuania. “I can assure that I will do my best in order to guarantee independent activities of these institutions. I will not allow them to ... Read More »

Ukraine’s 2018 draft budget foresees no direct subsidies to agrarians


KIEV: Earlier, the government offered to allocate for this program UAH 2 billion (US$73.5 million) instead of UAH 4 billion ($147 million), stipulated in the state budget for 2017.According to the draft law, the Cabinet of Ministers proposes an increase in state support to the livestock sector from UAH 2.3 billion ($84.5 billion) to UAH 4 billion by the second ... Read More »

Ukraine business ombudsman: Taxes, customs main problem for business


    KIEV: Ukraine’s State Fiscal Service responsible for the country’s taxes and customs – is causing the biggest headache for enterprises, Ukraine’s business ombudsman said in his council’s third 2017 quarterly report on Nov. 1. Lithuanian-born Business Ombudsman of Ukraine Algirdas Semeta, who referees how fairly the government is treating businesses, says that 65 percent of the quarter’s 408 ... Read More »

Ukraine and DP World study maritime logistics cooperation


  KIEV: President of Ukraine Petro Poroshenko toured DP World’s flagship Jebel Ali Port and Freezone recently and met with the global trade enabler’s Group Chairman and CEO Sultan Ahmed Bin Sulayem, as part of his official visit to the UAE to discuss bilateral cooperation in politics, security and foreign investment. Discussions focused on ways to grow Ukraine’s maritime and ... Read More »

Ukrainians have simplified import of American cars


  KIEV: A new order of the Ministry of infrastructure simplifies the certification of cars imported from America and Asia. This was announced by Director General of Ukrainian Association of automobile importers and dealers Oleg Nazarenko. “The order allows the use of GP “Gosavtotransniiproekt” alternative technical requirements for individual approval of separate vehicles that perform big series for countries which ... Read More »

NBU explains reasons for accelerating inflation rate


KIEV: Inflation rate accelerated up to 16.4% in Ukraine in September 2017 due to a quick rise in prices for raw food products, higher production costs and a certain revival in consumer demand. Acting Governor of the National Bank of Ukraine Yakiv Smoliy said this at the briefing, an Ukrinform correspondent reports. “Consumer inflation rate in September 2017 accelerated to ... Read More »

Ukrainian exports to Canada increased


KIEV: According to local media, senior Ukrainian government official said a big increase of Ukraine’s Canadian exports this year, resulted by the strengthened business relations and the Free Trade Agreement implementation. According to Ukraine’s Deputy Economic Development and Trade Minister, through Jan-August, 70.9 increase in exports to 31.2m USD.  This year, the country exported 154 new products to Canada and ... Read More »

Ukraine sets wheat export limit at 16.5mn T for 2017/18


KIEV: The Ukrainian government has agreed with traders that the maximum volume of wheat to be exported this season (July 2017-June 2018) will be 16.5 million tonnes, the agriculture ministry said on Thursday. Ukraine harvested around 26 million tonnes of wheat this year and the ministry said earier this year that exports could total no more than 17 million tonnes. ... Read More »

Ukraine, Azerbaijan to discuss economic cooperation development


KIEV: Azerbaijan and Ukraine will discuss economic cooperation development, as First Vice Prime Minister, Minister of Economic Development and Trade of Ukraine Stepan Kubiv visits Azerbaijan. Within the framework of the visit, Stepan Kubiv will meet Prime Minister of Azerbaijan Artur Rasizadeh, Minister of Economy Shahin Mustafayev and other officials. The meetings will discuss economic, commercial cooperation, implementation of joint ... Read More »

Ukraine bans Russian rouble note picturing Crimea


KIEV: Ukraine’s national bank has banned financial institutions from handling new Russian banknotes that feature landmarks from annexed Crimea. The 200-rouble note should not be exchanged or handled, said the National Bank of Ukraine (NBU). The note is illustrated with two scenes from the Crimean port of Sevastopol, a naval memorial and the nearby ruins of the ancient city of ... Read More »

Ukraine 2018 winter grain sowing 79 pct complete


  KIEV: Ukrainian farmers have sown 5.7 million hectares of winter grains, 79 percent of the expected area, the agriculture ministry said on Friday. Farmers have sown 5.1 million hectares of winter wheat, 477,000 hectares of winter barley and 161,000 hectares of rye, the ministry said. The area under winter wheat was likely to total 6.1 million hectares, while the ... Read More »

Ukraine’s Naftogaz reports 53% rise in Jan-Sept gas imports


KIEV: Naftogaz imported 7.1 billion cubic metres (bcm) of natural gas imports in the first nine months of this year, by about 53 percent from a year earlier, Ukraine’s state-run energy firm said on Thursday. Ukraine, which previously imported gas from Russia, has been buying from European states instead since halting Russian imports in November 2015 following Moscow’s 2014 annexation ... Read More »

Ukraine detains two top defence officials in graft case


  KIEV: Ukraine’s anti-corruption bureau said Wednesday it had detained a deputy defence minister and another top military official for allegedly embezzling millions in state funding through an illegal oil-purchase scheme. The announcement was the highest-profile indictment against any official since the Anti-Corruption Bureau of Ukraine (NABU) launched a graft case against the now-deposed tax service chief Roman Nasirov in ... Read More »

Ukraine exported more than 11 MMT of grain


KIEV: According to the State Consumer Protection Service, Ukraine exported 11.3 MMT of grains in the 2017/18 season by October 3, 2017, reports UkrAgroConsult. The exports included 6.48 MMT of wheat (in particular, over 3.6 MMT of milling wheat and almost 2.9 MMT of feed wheat), over 3.2 MMT of barley and over 1.22 MMT of corn. More than 11.3 ... Read More »

Ukraine increased linseed exports by 58%


KIEV: Linseed exports from Ukraine totaled 3.6 KMT in August 2016/17 that is up more than 2.5 times from July (1.4 KMT) and up 44% from August 2016 (2.5 KMT). Due to the upward trend seen in the latter half of the season, linseed exports for the whole season hit a record 63 KMT, or 57.5% more than last marketing ... Read More »

Customs agents stop wood munching pests from entering Port of Houston


  KIEV: Customs agents recently discovered invasive, wood-munching pests on two foreign cargo ships docked in the Port of Houston. The first creature, commonly known as a snout beetle, was discovered Sept. 16 on a ship from Brazil. Days later, customs agents discovered longhorn beetles boring holes into wood packaging of cargo from Russia and Ukraine. In both cases, the ... Read More »

NBU allows revision of schedule of bank capitalization


KIEV: The National Bank of Ukraine (NBU) allows the revision of the schedule of bank capitalization, NBU Deputy Chairman Yekateryna Rozhkova has stated. “Currently the NBU is negotiating with the IMF on the possibility of revising the schedule for raising the minimum level of charter capital. This morning we’ve discussed the issue of expediency of capital increase to Hr 300 ... Read More »

Ukraine exported almost 3 MMT of soybeans in 2016/17 season


KIEV: Soybean exports from Ukraine fell to 42.6 KMT in August 2017. This was the smallest monthly volume since the start of the season, but 31% more than in August 2016. Overall, soybean exports for the whole marketing year 2016/17 (September-August) totaled a record 2903.4 KMT that was up 22.7% from the previous year, reports UkrAgroConsult. As a reminder, the ... Read More »

Ukraine’s winter gas in storage rises to 16.4 bcm


KIEV: Ukraine’s gas in storage had risen to about 16.4 billion cubic metres (bcm) by Oct. 1 in preparation for winter, up 15 percent from a year earlier, gas transport monopoly Ukrtransgaz said on Monday. About 1.6 bcm of gas was added to reserves in the past 30 days, Ukrtransgaz data showed. Ukraine, which previously met its gas needs from ... Read More »

Central bank weakens hryvnia exchange rate to UAH 26.52 per U.S. dollar


KIEV: The National Bank of Ukraine (NBU) weakened the official exchange rate of the hryvnia against the U.S. dollar by five kopecks on Friday, September 29, to UAH 26.5211 from UAH 26.4728 per dollar on Thursday, according to the NBU’s website. The official exchange rate of the hryvnia against the euro was set at UAH 31.2365 (from UAH 31.0818) and ... Read More »