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December 24, 2010

Ukraine Doubles its IT Services Exports

Ukraine’s exports of the computer software will reach 1 billion USD this year, the country’s Vice Prime Minister Serhiy Tyhypko announced today. Ukraine is the world’s fifth biggest IT services exporter and this figure is doubling every year, making IT the fastest growing export-oriented sector of the country.

December 23, 2010

IMF Approves 1.5 Billion USD Disbursement for Ukraine

The Executive Board of the International Monetary Fund completed its first overview of the economic performance of Ukraine under the Stand-By Arrangement. Positive results of the review lead to an immediate appropriation of a tranche worth 1.5 billion USD.

December 10, 2010

Ukrainian Officials See the New Tax Code as a Huge Step forward

Ukraine’s Prime Minister Mykola Azarov and Vice Prime Minister of Social Policy Serhiy Tyhypko believe that the recently adopted Tax Code will raise the country’s profile among international investors. Though the code was adopted amidst a vibrant public debate and still needs some adjustments, the authors of the document are confident that both national and international investors should immediately feel the positive impact on their businesses.

December 8, 2010

Ukraine’s Public Finances Stabilized – Ukrainian President’s Administration

During the last 6 months the Ukrainian government has managed to significantly improve the country’s financial situation by decreasing the public debt. This statement was the core message of the First Deputy Head of Administration for the President of Ukraine Iryna Akimova at the Inside Ukraine Conference organized by The Economist.

December 1, 2010

Ukraine and Poland to Revive Odesa-Brody Pipeline

The Prime Minister of Ukraine Mykola Azarov and the Marshal of the Polish Senate Bogdan Borusevich discussed the plans of the two countries to revive the use of the Odesa-Brody pipeline. The high officials also mentioned a possibility of constructing a new leg of the pipeline. Presumably, it will stretch all the way to the Northern Polish city of Gdansk, and thus will make one step forward towards the establishment of a new route to transport the Caspian oil to the EU countries.

November 30, 2010

The President of Ukraine Vetoes the New Tax Code

The President of Ukraine Viktor Yanukovych vetoed the new Tax Code of Ukraine, adopted by Ukrainian Parliament on 18 November 2010. The document has caused thousands of Ukrainian businesspeople to strike for over a week now. Yanukovych decided to veto the Tax Code after visiting the tent city of the protesting entrepreneurs and holding an open discussion with them on Saturday.

November 30, 2010

EBRD Supports Road Construction in Ukraine

The European Bank for Reconstruction and Development (EBRD) is providing a fifteen-year EUR 450 million sovereign loan facility to the State Road Administration of Ukraine (Ukravtodor) to finance rehabilitation and upgrade of the motorways to Kyiv, which form a part of main European and national corridors in Ukraine. The loan is especially relevant in the light of the upcoming EURO 2012 football championship finals, hosted by Ukraine.

November 26, 2010

Ukraine Claims to Possess World’s Biggest Shale Gas Deposits

The Ministry of Environment and Natural Resources of Ukraine plans to attract international investors to analyze and develop Ukrainian shale gas deposits. The Ministry, together with the National Joint Stock Company (NAK) “Nadra of Ukraine”, made this announcement at the “World Shale Gas—2010” exhibition and conference, wich took place in Dallas-Fort Worth, Texas, USA.

November 23, 2010

NATO is Set to Prolong the Lease Agreement for Ukrainian An-124-100 Ruslan

NATO and Ukraine are discussing final provisions for extending the lease of heavy-duty transport aircraft – Antonov An-124-100 Ruslan. The contract is likely to be extended for two years before the end of 2010. Ukraine is now negotiating a plan to revive mass production of a new commercialized model of Ruslan jointly with Russia.The new model will have the cargo lifting capacity of 150 tonnes. Russian air force is also a potential client for the aircraft.

November 17, 2010

Ukraine and IMF Have Agreed on Terms of Further Cooperation

The Government of Ukraine and the International Monetary Fund have successfully approved the terms of the Stand-By Agreement continuation, which was signed in July this year. This was announced by Thanos Arvanitis, the Head of the latest International Monetary Fund’s mission to Ukraine in his interview to Ukrainian “Radio Svoboda” today.

November 2, 2010

Ukraine’s National Projects Will Attract 15 Billion USD Foreign Investments

The implementation of the ten national projects defined by the President of Ukraine Viktor Yanukovych will attract nearly 15 billion USD and thus will increase the national GDP by 4.7 % during the next five years. This forecast was announced today by Vladyslav Kaskiv, Head of a working group of the Ukrainian committee on economic reforms at the meeting of the “National Projects”.

October 29, 2010

Fitch Predicts an Upturn in Ukrainian GDP

The international rating agency Fitch announced its prediction of a 5 % growth in Ukraine’s GDP in 2010 and a 4.5 % in 2011. According to Fitch, Ukraine’s nominal GDP in 2010 will constitute 140,9 billion USD and 164,9 billion USD by the end of 2011.

October 12, 2010

Arcelor-Mittal and Ukrainian Government Are to Return to Constructive Dialogue

The representatives of ArcelorMittal have expressed their willingness to get back to negotiations of the investment agreement with the Ukrainian government. They made this statement after the Kyiv City Commercial Court had dropped the case upon the withdrawal of the General Prosecutor’s claim.

October 1, 2010

Ukraine and Poland: Gas Crises Are Left in the Past

The Presidents of Ukraine and Poland have expressed their confidence that the problems with gas supplies to the EU countries have now been left in the past. This was their common vision expressed at the opening of Yalta European Strategy Summit, which started today in Crimea, Ukraine.

September 3, 2010

EURO 2012 Projects Are the Main Part of Ukraine-China USD 4 BLN Investment Agreements

The main result of the state visit of the President of Ukraine Viktor Yanukovych to People’s Republic of China is China’s commitment to invest more than 4 billion USD in the infrastructure projects in Ukraine. The projects for EURO 2012 have been in focus of the investment agreements signed during the state visit.

August 30, 2010

Ukraine Offers Germany Partnership in the Reconstruction of the Ukrainian Gas Transit System

Today the President of Ukraine Viktor Yanukovych offered Angela Merkel, the German Federal Chancellor, that Germany takes part in the reconstruction of Ukraine’s gas transit system.