Economy / Business

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2013 2012 2011 2010

July 23, 2012: Ukraine Increases Steel Production, Surpasses Brazil
Ukraine contributed 2.87 million tons of steel into the global steel production in June of 2012. This allowed the country to outrun Brazil and score the ninth spot on the list of the top ten steel producers in the world. Earlier, Ukraine occupied the tenth position on the ranking by the World Steel Association (WSA).
July 18, 2012: Ukraine, EU Finalize Free Trade Agreement Text
Ukraine and the EU finished editing and coordinating approvals of the second – economic – part of the Association Agreement between the parties. They completed technical and legal work on the section of the document that regulates the introduction of the Deep and Comprehensive Free Trade Area by the signees, according to the EU Trade Spokesman John Clancy’s statement made for ukrinform.ua.
July 17, 2012: Goldman Sachs: Ukraine – Top Emerging Market at London Olympics
Ukraine will be the only emerging market in the top ten best performing countries at the upcoming 2012 Summer Olympics in London, according to the study compiled by American bank Goldman Sachs. The authors of the research The Olympics and Economics 2012 expect Ukrainian athletes to win 9 gold medals (and 27 total) at the high profile sports event.
July 16, 2012: Ukraine’s Sugar Export Reaches 10 Year Highest
Ukraine exported 117,900 tons of sugar over September 2011 – June 2012. This is the largest export amount for the country in the last ten years, informs Ukrainian Agribusiness Club (UAC). “Ukraine is capable of producing sugar that would be competitive to the global market. The country has favorable climate for growing sugar beet and leading companies, which invest in increasing sugar and sugar beet production,” said Taras Vysotskyi, UAC expert.
July 10, 2012: Ukrainian-Russian Company Wins NATO Air Transportation Bid
Joint Ukraine-Russia Ruslan SALIS GmbH will provide air transportation services to the NATO project Strategic Airlift Interim Solution (SALIS). The company has been a long-term partner of the project, and now it won another two-year bid as the only company that fully satisfies technical requirements of the tender.
July 10, 2012: World Bank Expert: Ukraine’s Budget Transparency Is One of World’s Top
Most recent World Bank – EU report on the effectiveness of state budget management confirmed the results of 2010 Open Budget Index regarding budget transparency in Ukraine. “In fact, budget transparency, including availability of budget information to the public, is one of the world’s best,” said Oleksiy Balabushko, Public Sector Economist at World Bank, during the presentation of the new report.
July 3, 2012: Ferrostaal Starts Gas Pipeline Modernization in Ukraine
A global provider of industrial services in plant construction and engineering Ferrostaаl Industrieanlagen GmbH will perform modernization of Ukrainian gas transporting system. The cost of such works would pay off faster than the Russian alternative pipeline South Stream becomes operational, states the German company. Ferrostaal will perform reconstruction works at the Soyuz gas pipeline starting with Bar compressor station in Vinnitsia region, Ukraine.
July 2, 2012: China Provides USD 3 BLN for Ukraine Agrarian Sector
The People’s Republic of China allocates the USD 3 billion loan for a set of projects in Ukraine’s agricultural sector. The bilateral cooperation will include Ukraine purchasing crop-protection agents, seeds, and equipment from China, land cultivation, construction of a plant for organic fertilizer processing and crop-protection agents production, selling grain to China, etc.
June 27, 2012: Ukraine Closes Marketing Year Doubling Grain Export
Ukraine will have exported some 21-22 million tons of grain by June 30th, reckons the Head of transnational trading company NMG Ukraine Mykola Horbachev. The expert listed the company’s estimate numbers regarding wheat export in 2011-2012 marketing year – 5 million tons, barley – 2.3 million, corn – 13 million tons.
June 26, 2012: Ukraine Cuts Natural Gas Import 50%
Ukraine decreased the amount of imported natural gas by 48.77 percent over the first five months of 2012, compared to the respective period of 2011. The volume of imported gas in January – May 2012 reached 12.8 billion cubic meters.
June 11, 2012: Ukraine May Triple Its Natural Gas Production – Shell Ukraine Chairman
Ukraine may double of even triple the volume of its domestic natural gas production if Yuzivske gas field development proves to be successful, said Graham Tiley, Country Chairman for Shell Ukraine. Such statement was made during his meeting with Ukrainian Prime Minister Mykola Azarov on Friday, June 8, 2012.
June 8, 2012: Norwegian Low Cost Airline Comes to Kyiv
Norwegian Air Shuttle airline will offer frequent flights between Oslo (Gardermoen) and Kyiv (Boryspil International Airport) starting June 8. Norwegian became the 19th low cost airline to enter Ukrainian market after Hungarian Wizz Air, Italian Wind Jet and many more.
June 7, 2012: Ukraine Leaps Forward 30 Years – UEFA President
In preparations for EURO 2012 Ukraine leaped forward 30 years in its development, said UEFA President Michel Platini. During the press conference at the National Stadium in Warsaw, Poland, Platini also noted that despite numerous problems, especially the impact of the global financial crisis, both countries have achieved a high level of readiness for the continental football championship.
June 6, 2012: World Economic Forum Expert Group Assists Ukraine
Global Agenda Council on Ukraine was launched at the World Economic Forum (WEF) on the Middle East, North Africa and Eurasia (Istanbul, Turkey, June 4-6, 2012). The Council was initiated as a result of the meeting between Professor Klaus Schwab, Founder and Executive Chairman of the WEF, and Viktor Yanukovych, President of Ukraine.The WEF Council will generate ideas to further social, political, and economic progress in Ukraine.
June 5, 2012: Ukraine Develops Shale Gas For Greater Energy Independence – Energy Minister
Achieving energy independence has become top priority for the President of Ukraine Viktor Yanukovych. Such statement was made during the Washington meeting of the working group on energy security co-chaired by the Ukrainian Energy and Coal Industry Minister Yuriy Boyko and Special Envoy of the United States Secretary of State for Eurasian Energy Richard Morningstar.
June 1, 2012: Ukraine Starts Free Trade With EFTA
The free trade agreement between the EFTA states (Iceland, Liechtenstein, Norway, and Switzerland) and Ukraine comes into force today. Signed in 2010, the document regulates trade in goods and services between the signees, competition in the market, government procurement, investment, and intellectual property rights protection.
June 1, 2012: Ukrainian Railroad Infrastructure – Best in CIS
Latest Global Enabling Trade Report of the World Economic Forum lists Ukraine as number 27 in the world (132 countries) regarding railroad infrastructure development. The country scored the average of 4.4 points (with a maximum of seven, which stands for extensive and efficient infrastructure by international standards), making it number one among the CIS countries.
May 31, 2012: Ukraine Can Help EU Economy Recover – Deputy PM
Investors claim to profit in Ukraine, said Ukrainian First Vice Prime Minister Valeriy Khoroshkovskyi in an interview with the Polish news agency PAP. Ukrainian official said that the incoming investments would be protected and profitable. “I am certain Ukraine can help EU recover from the economic crisis,” stated Khoroshkovskyi.
May 30, 2012: Brazil Buys Insulin From Ukraine
Brazil state pharmaceutical group Farmanguinhos/Fiocruz signed a purchase contract with Ukrainian insulin producer Indar for 3.5 million vials of genetically engineered human insulin Humodar. While Brazilian experts stated that they chose their Ukrainian partner based on quality of their product, Indar CEO Liubov Vyshnevska noted that the Latin American market was one of the most promising for Ukrainian export.
May 28, 2012: Ukraine Expands Its Main Air Gateway
The new terminal at Boryspil International Airport in Kyiv will service up to 15 million visitors per year, making its total channel capacity comparable to that of the Dublin Airport. The President of Ukraine Viktor Yanukovych labeled the completion of the venue as “another small victory” for Ukraine as EURO 2012 motivated the country to step up its infrastructure development efforts.
May 28, 2012: Ukraine Launches Fast Trains
Ukraine continues to implement technological advancements as it approaches the start date of the EURO 2012 football championship on July 8, 2012.
May 25, 2012: Ukraine and EU Approve Customs Cooperation Strategy
Ukraine and the EU reached a political agreement on joint cooperation strategy regarding customs. Among other issues, the cooperation will promote information exchange and introduce efficient countering of customs violations.
May 24, 2012: EURO Fans May Spend Over EUR 400 Mln in Ukraine – Erste Bank Report
The new report by Erste Bank research unit forecasts economic benefits Ukraine and Poland may gain from their role as co-hosts of the European Football Championship EURO 2012. The document estimates that each of the expected 500,000 visitors to Ukraine will spend the average of EUR 800 over their three to four day stay in the country.
May 23, 2012: All Eyes on Ukraine Come EURO 2012 – International Herald Tribune
The global edition of The New York Times – International Herald Tribune – offers a take on Ukraine as a EURO 2012 host. The one-page special feature Ukraine: EURO 2012 covers the issues of football championship organization, the state of infrastructure in the country, as well as tourist attractions.
May 22, 2012: Ukraine Opens Second Airport in Kyiv
As the date of the largest football tournament EURO 2012 nears, Ukraine – the cohost of the event together with Poland – finalizes its preparations and finished a comprehensive overhaul of the Kyiv International Airport terminal Zhuliany. The new 150,000 square foot terminal boasts the increased passenger output of up to 500 per hour with the capacity to service triple this amount if need be.
May 21, 2012: 4% GDP Growth for Ukraine in 2013 – EBRD Forecast
The European Bank for Reconstruction and Development forecasts GDP growth in Ukraine over 2013 to reach 4 percent compared to 2.5 percent in 2012. This growth is the second highest in Central and Eastern Europe, with only a prognosis for Moldova being higher – 4.5 percent. Ukraine is followed by Estonia (predicted 3.4 percent GDP growth in 2013).
May 14, 2012: Donetsk Unveils New Airport Terminal
Country officials open the renewed terminal at Donetsk international airport in Ukraine just in time for EURO 2012. The renewed airport boasts a seven-storey terminal capable of servicing up to 3,100 passengers per hour (compared to 700 prior to the reconstruction), reads the statement by Ukraine’s Infrastructure Ministry.
May 12, 2012: Shell and Chevron Win Ukraine Public Bid for Shale Gas
Two of the world’s largest oil companies Royal Dutch Shell plc and Chevron Corp obtained the right to develop Ukrainian shale gas fields Yuzivske and Oleske, respectively, informed Prime Minister of Ukraine Mykola Azarov in his interview with Euronews. The fields are expected to provide Ukraine with up to ten percent of domestically consumed natural gas by 2020.
May 11, 2012: 52.6% Electricity Export Growth for Ukraine
Ukraine’s electricity export increased by 864.1 GWh in January – April of 2012. The total amount of electricity exported during the period equaled 2,507.7 GWh. In 2012 Ukraine provided energy to Belarus, Hungary, Moldova, Poland, Romania, and Slovakia.
May 11, 2012: Ukraine Starts Negotiations with German RWE for Gas Imports
Ukraine’s state owned OJSC oil and gas company Naftogaz signed a framework agreement with the Germany’s RWE Supply & Trading GmbH (RWEST) concerning gas supplies, according to the press service of Naftogaz. The agreement provides legal grounds for future natural gas supplies from RWEST to Ukraine.

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