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ONIC Weekly Report August 19 2019

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Office of the National Investment Council of Ukraine presents weekly reports as handy tools to keep track of the key news in business and investment climate in Ukraine and the world. The following report covers events dated August 12-18, 2019

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ONIC Weekly Report August 19 2019

  1. 1. WEEKLY REPORT August 12th → August 18th, 2019
  2. 2. The Cabinet of Ministers has obliged recipients of international technical assistance to publish information on the assistance received, and performers to report annually on the status of project implementation. WEEKLY REPORT August 12th → August 18th, 2019 Business climate in Ukraine Oil Coal Natural Gas Iron Ore Copper Corn Wheat USD/bbl USD/ton USD/MWh USD/ton USD/bushel Macroeconomic indicators Source: Ukrstat, NBU 58.64 48.80 10.92 93.61 USD/ton USD/bushel 5719.50 3.81 4.78 Ukraine and Singapore have signed a protocol on the introduction of amendments to the agreement on the avoidance of double taxation with respect to taxes on income and capital. The protocol is aimed at avoiding double taxation of income of individuals and legal entities in the territories of both countries. The provisions of the protocol are in line with the requirements of the OECD Model Tax Convention. The Cabinet of Ministers put amendments to the mechanism of functioning of public service obligations (PSO) in the electricity market. The relevant decision was voted in accordance with an abridged procedure. EIB proposes Ukraine USD 250 million for “Development of agricultural infrastructure and biomass-based energy generation” project. Project will help to attract medium- term financial resources to the real sector of economy. The investment attractiveness of Ukraine's energy efficiency and green energy sectors are in the focus of attention of the Swiss Investment Fund's responsAbility Investments. The Fund grants credits and attracts investment to small and medium- sized enterprises in developing countries. Fund was presented more than 100 potential projects in various clean energy sectors worth more than EUR 4 billion. GDP growth +4.6% Export $20,895 Import $23,529 Industrial output 0.5% CPI 9.0% 2Q 2019, y-o-y Jan - May 2019 Jan - May 2019 y-o-y Jan – May 2019 Jan - May 2019 y-o-y Jan - Jun 2019, y-o-y Jun 2019 Jan - Jun 2019, y-o-y Jun 2019 UAH/USD (NBU, average) 25.32 Source: Ukrstat, NBU million +7.4% +9.3% -2.3% 9.0% million The Government Office for Coordination of European and Euro-Atlantic Integration presented a transition book "European and Euro-Atlantic integration". It is designed to provide public with exact information on the current state of affairs, major achievements and challenges on the road to the European integration, as well as on Ukraine's path towards NATO membership.
  3. 3. Norwegian company NBT has started construction of the second phase of Zofia wind farm with a 300 MW capacity in Zaporizhia region. Within the framework of the project, it is planned to set up nearly 72 wind turbines with a capacity from 4.5 MW and 6 MW each WEEKLY REPORT August 12th → August 18th, 2019 Ukrainian Business News World Business News Verizon would sell its blogging website Tumblr to Automattic Inc, the owner of popular online-publishing tool WordPress.com. Tumblr was acquired by Yahoo for more than USD 1 billion in 2013 and Verizon acquired it as part of its deal for Yahoo in 2015 Black Iron, a Canadian iron ore exploration and development company with assets in Ukraine, expects to receive by the end of August the proposals from several European export credit agencies and banks for the debt financing of its Shymanivske iron ore project in Ukraine. Black Iron plans to host at its site in September a multibillion-dollar Asian construction company that contemplates investing approximately USD 50 million in Black Iron’s equity in exchange for the project’s construction contract. The French speed-test company nPerf has published a study of three largest mobile communications operators in Ukraine, where Kyivstar ranks first. nPerf specialists in total analyzed more than 23,100 tests in 2G, 3G, 4G networks. Ukraine's railway operator, Ukrzaliznytsia, has completed the first stage of negotiations with GE Transportation about the acquisition of the next batch of locomotives. UZ discuss the supply of 20 to 40 locomotives. Metinvest, the vertically integrated steel and mining group of companies, has signed its first smart contract on we.trade blockchain trade finance platform supported by UniCredit. This blockchain transaction demonstrates the importance of digitalization in the steel industry. IT services company Presidio would be taken private by BC Partners in a USD 2 billion all-cash deal, as the European buyout fund looks to expand its footprint in the cybersecurity space. The deal includes a period, which allows to consider alternative offers Hong Kong’s political unrest is posing a dilemma for Alibaba on the timing of its planned USD 15 billion listing in the city, as China’s biggest e-commerce company is now considering several timetables. The Hong Kong listing deal was estimated at up to USD 20 billion, but is more likely to raise between USD 10-USD 15 billion Amazon.com is in late-stage talks to buy as much as 10% of India’s Future Retail. Amazon is looking to expand its reach in the Indian brick-and-mortar market, about a year after retailer Walmart bought a majority stake in Indian e-commerce firm Flipkart. Future Group is seeking a valuation of about USD 281 million for the stake CBS Corp and Viacom Inc are in the final stages of negotiating an all-stock merger. The deal will reunite CBS and Viacom, bringing together the CBS television networks, cable network Showtime, and book publisher Simon & Schuster with MTV networks, Nickelodeon and the Paramount movie studio German classifieds group Scout24 would explore a sale or spin-off of its autos platform and borrow more to buy back shares, after facing calls from activist investor Elliott to boost shareholder returns. Elliott, in a letter published last week, urged Scout24 to expand a proposed 300 million euro buyback of stock The Antimonopoly Committee of Ukraine has provided permission to Canadian Fairfax Financial Holdings Limited to acquire PJSC Universalna insurance company, which would grant over 25% of the votes in the management body of the insurance company.

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