•Swedish telecom giant Ericsson has its Lviv R&D office up and running, employing about 120 programmers, Interfax Ukraine reported. The Lviv center is the company's first in Ukraine, and its expansion plans include others throughout the country.
•The Cabinet transferred management of the state railway Ukrzaliznytsia to the government to make it easier to reform the corporate structure of the company, an Infrastructure Ministry official told Interfax Ukraine. Also, an Ukrzalizynitsia affiliate announced a $108 million tender for purchase of 3,000 train cars. The application deadline for the tender is Feb. 21.
•Fortune Global 500 commodity trading and mining company Glencore and Ukrainian tycoon Oleksandr Yaroslavksy's DCH Group plan to team up and take part in the privatization competition for Turboatom, Ekonomicheskaya Pravda reported. In a meeting with Yaroslavsky and President Petro Poroshenko at the World Economic Forum in Davos, Switzerland, Glencore CEO Ivan Glasenberg expressed interest in helping Ukraine modernize its economy and attract foreign investment.
•General Electric Transportation, a division of the world-renowned GE, is ready to enter into long-term cooperation with Ukrzaliznytsia, Novoe Vremya reported, citing a Facebook post from Davos by Boris Lozhkin.
•Ukraine received the largest cereal grain quota allotment handed out by the European Union for 2017, UkrAgroConsult reported. The EU import quotas for Ukrainian grain increased by the following amounts: wheat, 10,000 tons; barley, 20,000 tons; and corn, 50,000 tons.
•Ukraine's Cabinet on Wednesday approved two bills to protect intellectual property rights, one addressing patent trolling and one shoring up safeguards on industrial samples and trademarks, according to Interfax Ukraine. The Economic Development and Trade Ministry said the measures will aid restoration of domestic industry and make Ukraine more attractive for investment.
•Odesa portside plant shareholders have a special general meeting scheduled for Feb. 6 to discuss the restructuring of debt owed to Naftogaz. The agenda indicates that shareholders will also decide whether to give preliminary consent to allow the company to sign large deals.
•The France-based international supermarket chain Auchan is buying Ukrainian counterpart Caravan, Ekonomicheskaya Pravda reported, citing the Ukrainian Retail Association.
•Ukrainian IT company SoftServe bought Coders Center, which is headquartered in the Polish city of Wroclaw, for between $1.5 million and $3 million, AIN reported. Coders Center specializes in enterprise content management systems and e-commerce platforms. It has four offices in Poland and another four affiliated offices in London, New York, Sweden and Germany.
•The National Bank of Ukraine declared People's Capital Bank insolvent Thursday. In July, People's Capital was classified as a problem bank because its ownership structure didn't comply with transparency requirements.
•International Airlines of Ukraine is adding two Boeing 737-800 passenger aircraft to its fleet, Novoe Vremya reported. The first of the planes, which can carry up to 186 passengers, will go into service Jan. 20. The other will be added in March.
For comments and news tips, please email UBJ AM editor David Edwards at email@example.com.
The UBJ website, like most websites, uses small text files called cookies. This note provides information on what cookies are, which cookies The UBJ uses, and how they can be controlled.
If you wish to restrict or block cookies you can set your internet browser to do so- click on the following link for further information: Cookies statement
- What are cookies?
- Which cookies does The UBJ use?
- How to control cookies
- Full list of cookies used by The UBJ
Read about Cookie Statement
Welcome to the UBJ
The UBJ is a subscription based service specifically designed for senior executives. To use the service, please Register and we will automatically grant you 7 days Free access! Or Subscribe online and get 15% discount immediately (promocode UBJ000555). We hope you will enjoy using the site over this period and come to the conclusion that it is an indispensable intelligence service on all that is happening in what is Europe's new frontier economy.
To subscribe immediately please click the link:
If you have already Registered and you see this window, all you need to do is to Subscribe.
I already have an account Sign in