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Ukrainian president’s staff chief tries to quit after two months

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KIEV: Ukrainian President Volodymyr Zelenskiy’s chief of staff sent in a letter of resignation, after two months in his job, but Zelenskiy has not signed it, according to a statement on the presidential. Mystery has surrounded the status of Andriy Bogdan, the head of the presidential administration, since Thursday evening. The local news agency Interfax Ukraine had reported Bogdan’s resignation ... Read More »

Polish lawmaker Swiecicki to become Ukraine’s Business Ombudsman

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Polish lawmaker Marcin Swiecicki will replace Lithuanian economist Algirdas Semeta as the head of the Ukrainian Business Ombudsman Council, the country’s watchdog that monitors state activity in relation to business. Swiecicki will begin work after Semeta’s contract expires in October. “At yesterday’s meeting, the council approved the candidacy of the future Business Ombudsman Marcin Swiecicki,” Semeta said at a quarterly ... Read More »

Ukrainian businesses to additionally pay over $792 million in taxes

The State Fiscal Service building in Kyiv, photographed in August, 2018. The service's tax authorities have been trying to crack down on aggressive transfer pricing practices by companies.

Ukraine’s State Fiscal Service (SFS) that is now undergoing the liquidation procedure carried out 10,600 inspections of taxpayers in January-June 2019, as a result of which they were obliged to additionally pay Hr 20.3 billion, or $792 million, in taxes and fees to the national budget. Read More »

Ukraine president kicks official out of meeting over criminal record

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KIEV: Ukraine’s President Volodymyr Zelenskiy had a regional official expelled from a meeting broadcast live on television on Wednesday because of a past criminal record. “Get out of here, rogue! Are you not hearing me correctly?” he told Yaroslav Hodunok, to applause from other officials present at the otherwise routine meeting. The official threatened legal action against Zelenskiy, telling a ... Read More »

Party of Ukraine’s president can win parliamentary majority: poll

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KIEV: The new party set up by Ukraine’s President Volodymyr Zelenskiy, who took office last month, could win a majority in a parliamentary election due on July 21, an opinion poll showed. A good showing next month would cement the former television comedian’s meteoric rise and upending of Ukrainian politics. The survey by research group SOCIS showed Zelenskiy’s party, Servant ... Read More »

Ukrainian banks report 69.2% increase in profits during the first four months of 2019

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Ukraine’s banking sector remains on a strong growth trajectory as the far-reaching reforms of the past five years continue to bear fruit. According to figures released in late May by the National Bank of Ukraine (NBU), Ukrainian banks posted a 69.2% year-on-year increase in profits during the January-April 2019 period to reach a new total of UAH 18.1 billion. This ... Read More »

UNIAN: Deficit of Ukraine’s national budget shrinks by 12 times

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The deficit of Ukraine’s national budget in January-April 2019 was estimated at Hr 1.719 billion, or $65.3 million, which was 12 times down from the deficit of Hr 20.587 billion, or $781.9 million, year-over-year (y-o-y). Read More »

Ukraine Seizes Cocaine Worth $51 Million In Cargo Ship

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Ukraine’s Security Service (SBU) says it has seized a shipment of South American narcotics worth some $51 million. The SBU said it found more than a quarter of a ton of cocaine hidden in “containers with bananas” during an inspection on a South American cargo ship that docked in the Black Sea port of Odesa. The statement did not identify ... Read More »

Franco-Ukrainian economic ties could benefit from a major tech upgrade

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Ever since the proclamation of Ukrainian independence in 1991, France has featured prominently in the imaginations of Ukrainians as a symbol of the country’s aspirations and an economic success story worthy of emulation. Unfortunately, Ukraine’s transition from planned economy to market economy has proven far more painful and lengthy than anticipated, and has been accompanied by a plethora of persistent ... Read More »

Yaroslavsky to invest USD 200 million in Dnipro metallurgy plant and Sukha Balka mine

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Oleksandr Yaroslavsky has announced plans to create DCH Steel as part of efforts to bolster the efficiency of the mining and metallurgical interests within his DCH Group. The company will manage two of his recent acquisitions, the Dnipropetrovsk Metallurgical Plant (DMZ) and Suhka Balka mine in Kryviy Rih. This reorganization of Yaroslavsky’s business empire aims to improve asset management while ... Read More »

Ukraine’s leading international airport sees 15% growth in passengers during Q1 2019

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Boryspil International Airport has reported a 15% year-on-year rise in passenger numbers during the first quarter of 2019. Approximately 2.6 million people used the airport in the January-March period, with slightly over 90% of these passengers traveling on international flights. The airport, which serves as the main international gateway to Kyiv, has recently reopened its Terminal F facility in order ... Read More »

Ukraine’s leading international airport sees 15% growth in passengers during Q1 2019

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Boryspil International Airport has reported a 15% year-on-year rise in passenger numbers during the first quarter of 2019. Approximately 2.6 million people used the airport in the January-March period, with slightly over 90% of these passengers traveling on international flights. The airport, which serves as the main international gateway to Kyiv, has recently reopened its Terminal F facility in order ... Read More »

Zelenskiy team offers contradictory statements on central bank audit

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Presidential candidate Volodymyr Zelenskiy’s team is sending contradictory messages after a representative of the candidate called for an additional audit of the National Bank of Ukraine. Such a move could potentially send negative signals to foreign financial institutions. Read More »

Comedian Zelenskiy would win second round of Ukraine election – poll

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Comic actor Volodymyr Zelenskiy, a political novice who plays a fictional president in a popular TV series, is likely to win in Ukraine’s presidential election race, according to an opinion poll published on Thursday. The poll by Reiting research body, the first survey for the election’s second round, showed Zelenskiy on 61 percent of votes and incumbent Petro Poroshenko on ... Read More »

Ukraine presidential rivals undergo televised drug tests

Ukraine's presidential candidate, who led the first round of presidential polls, Volodymyr Zelensky (R) undergoes a blood test in a private clinic in Kiev on April 5, 2019 to prove he does not abuse alcohol and drugs ahead of a second-round runoff on April 21. (Photo by STRINGER / AFP)

KIEV: The two remaining candidates in Ukraine’s presidential race underwent televised drug and alcohol tests on Friday, capping a week in which they traded jibes in tit-for-tat social media videos and goaded each other to agree to a live policy debate. President Petro Poroshenko is facing Volodymyr Zelenskiy, a comedian with no political experience who plays a fictional president in ... Read More »

Ukrainian govt bans gas price hikes before vote

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KIEV: The Ukrainian government has banned state-run gas producer Naftogaz from raising consumer gas prices, Prime Minister Volodymyr Groysman said on Wednesday, a move likely to please voters but disturb the country’s creditors. The ban, which took effect retroactively from April 1, was announced as President Petro Poroshenko, a Groysman ally, tries to boost his chances ahead of the second ... Read More »

French warship is latest NATO vessel to visit Ukraine

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A French navy warship has been docked in the Ukrainian port city of Odesa since March 23, making it the second NATO ship to visit Ukraine since the beginning of this year. It is also the third such visit since December 2018, with NATO’s three most powerful maritime forces – the US, the UK and France – all having now ... Read More »

‘Corruption in Ukraine has to be stopped’

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The port of Mariupol in eastern Ukraine has become a symbol in recent months of the country’s economic struggles. A recent partial blockade by Russian naval vessels of the nearby Kerch Strait means that fewer ships are now docking at the harbour. The port has lost 33% of its fleet and up to 140,000 tonnes of exported metal products a ... Read More »

Ukraine ramps up trade ties with the GCC

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Trade between Ukraine and the rest of the world is set to boom in the coming years, despite ongoing political strife in the former Soviet state. That’s according to Daniel Bilak, chairman of UkraineInvest and chief investment adviser to the Ukrainian Prime Minister. The national spokesperson told Arabian Business the Ukraine-EU Association Agreement has been a ‘game changer’ for the ... Read More »

Reform of customs regulations slow, improvements sporadic

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The 1,000-member European Business Association of Ukraine, or EBA, issued its semi-annual customs index as well as the results of accompanying research. The index has not changed during the preceding half-year and stays at the level of 3.92 out of 5 points. EBA and its research partner Gemius interviewed 90 customs experts from among the pool of EBA member companies. ... Read More »