Section: Economy
Ukraine greatly boosts sunflower oil exports
Large- and medium-sized Ukrainian enterprises exported 683,470 tonnes of sunflower oil in March 2017, which was 54.7% up from February 2017 and 59.2% up year-over-year (y-o-y), according to the association of vegetable oil and animal fat producing enterprises Ukroliyaprom. Exports of Ukrainian sunflower oil in monetary terms were estimated at...
U.K.`s financial sanctions enforcer sees U.S.-style results in new powers – Bloomberg
The U.K.`s financial sanctions enforcer has new legal authority to impose fines, toughen prison sentences and reward companies that voluntarily disclose suspected violations, changes that resemble U.S. enforcement and that the agency`s leader describe as ”transformational,” according to Bloomberg. The year-old Office of Financial Sanctions...
Ukraine to fill gap in Turkey`s wheat imports
Turkey`s custom tax of 130 percent levied on six products imported from Russia, particularly wheat, has directed Turkish importers toward temporary solutions, leading them to other markets. Moreover, wheat importers will temporarily fill in the gap caused by the customs tax that disables wheat imports from Russia by resorting to the Ukrainian...
Ukraine sees decline in agricultural output in January-March 2017
Ukraine`s agricultural production declined by 0.8% in January-March 2017 year-over-year, according to the Ukrainian State Statistics Service. In particular, agri-businesses reduced production by 0.8% over the period under review, while private farmers shrank the output by 0.9%. The State Statistics Service noted that the data is given in...
IMF offers recipe for Ukraine`s pension system
The International Monetary Fund (IMF) says it is early to introduce defined contribution (DC) plans in Ukraine, according to the Ukrainian economic news portal Ekonomichna Pravda (EP). ”The introduction of the so-called DC system (Tier 2) in addition to the existing system, as many insist on, will not make any sense without fixing the drawbacks...
Ukraine could miss out on up to $3.65 bln of China energy loans
Ukraine could miss out on energy sector funding from China worth up to $3.65 billion because squabbles between ministries and the state-run energy firm Naftogaz have held up project proposals, according to interviews with officials, Reuters reports. Ukraine signed the loan agreement with the China Development Bank (CDB) in 2012 and it must submit...
Deficit of Ukraine`s foreign trade in goods shrinks by 44.5%
The deficit of Ukraine`s foreign trade in commodities was estimated at US$423.2 million in January-February 2017, which was by 44.5% down from a $756.1 million deficit year-over-year (y-o-y), according to the Ukrainian State Statistics Service`s website. Goods exports from Ukraine over the period under review grew by 32.7%, while goods imports...
Ukraine exports 35 mln tonnes of grain since July 2016
Ukrainian agribusinesses have exported 35.02 million tonnes of grain since the beginning of the 2016-2017 marketing year (MY, July 2016 – June 2017), according to the Ukrainian Agrarian Policy and Food Ministry`s press service. In particular, 14.99 million tonnes of wheat, 4.9 million tonnes of barley, 14.93 million tonnes of maize, and 4,300...
Ukraine`s energy holding DTEK, controlled by Akhmetov, to buy 600,000 tonnes of deficit coal from South Africa
Ukraine`s largest private energy holding DTEK, controlled by Rinat Akhmetov, confirmed the purchase of 600,000 tonnes of deficit anthracite coal from South Africa with the option to increase it up to 1 million tonnes, according to the company`s press service. The arrival of the first vessel loaded with 75,000 tonnes of anthracite is expected in...
Ukraine`s Verkhovna Rada votes to introduce competitive electricity market
Ukraine`s Verkhovna Rada has passed a bill on the electricity market, which foresees more competitive relations on the energy market, including the retail one where end consumers will be able to select a power supplier. Respective bill No. 4493 passed second reading, having scored 277 MPs` votes with the required minimum being 226 votes. The said...