The Business Week for the week of August 10-16, 2020

The Business Week for the week of August 10-16, 2020


Gambling business is now legalized in Ukraine

Ukraine is on its way to explore the benefits of the up-and-coming market of the gaming industry. On August 11, the President of Ukraine signed a long-anticipated Law “On state regulation of activities in the organization and conduct of gambling”. 

🎯 The Law establishes an open regulated gambling market allowing land-based casinos in five-star casinos located in Kyiv and four and five-star hotels outside the capital; online casinos, betting both online and offline, slot machines and online poker. 

🎲 Casino development will create important contributions to the promotion of the hospitality and tourism sector in Ukraine. Meanwhile, taxation of the gambling industry can become a significant financial source for the government. It’s estimated that drawing gambling out of the shadows could generate $150 million in revenue for the government annually.


Czech concern to invest EUR 50 million in Yuzhmash

🚀Ukrainian SE “PA Yuzhmash” is actively looking for new opportunities to load production, expand the geography of cooperation and gain access to new markets. Witkowitz, a Czech concern that specializes in manufacturing of mechanical engineering equipment, is planning to invest EUR 50 million in Ukrainian Yuzhmash, reads the press release. Czech concern plans to establish new production facilities on the basis of Yuzhmash. The project is planned to start by the end of 2020. Read more


Ukraine is establishing the legal and regulatory framework for the derivatives market

Ukraine has made a major step for further development of the local currency market. The President of Ukraine Volodymyr Zelenskyy signed the law on amendments to certain legislative acts of Ukraine on facilitating investment attraction and the introduction of new financial instruments. According to the EBRD, who has been involved in the preparation of this framework, the new law puts Ukraine on the map for the derivatives market and for netting, allowing companies to safely and efficiently hedge their risk and exposure, thus contributing to the development of a local currency financial market.


Firefly to launch its Alpha rocket this fall

🚀 US-Ukrainian company Firefly Aerospace is planning to launch Alpha this October from Vandenberg Air Force Base in California. Alpha is an advanced two-stage rocket for small satellites. Alpha will be targeted at small satellites especially, with Firefly doing its best to deliver them into orbit for a cost of about $15 million per mission, reports The company has its R&D center located in Ukrainian city Dnipro, which has been known as a Ukrainian heart of the aerospace industry with a number of prominent enterprises with a full cycle of design, production and operation of advanced civil, military and cargo aircraft, as well as supplying space technology.


Wildix, a company specialized in unified communications and webRTC will open an R&D center in Odesa.  Read more

We are happy to cooperate with talented IT, Sales and Marketing professionals from Odessa. The product we have been developing and promoting together over these last 15 years is a real game-changer in the ICT Industry, we get more and more recognition in the EMEA Region, APAC and the United States, all this would not be possible without the Team we built in Odessa,” 

says Dimitri Osler, Wildix CTO

Dutch Renaisco BV to acquire seaport grain terminal in Mykolaiv

A Glencore International subsidiary Renaisco BV obtained a permit for the acquisition of the equity stake in Orexim seaport grain terminal Every, located in the port of Mykolaiv. The terminal’s transshipment capacity is 1.6 million tons, while Glencore is one of the largest shippers of corn from Ukraine in 2019/2020 MY. 

Ukraine harvested 33 million tonnes of grains and legumes 

Harvesting campaign update: the harvesting campaign is  56% completed, Ukrainian agrarians reaped about 33 million tonnes of grains and legumes out of 8.5 million hectares. Since the beginning of the new 2020/2021 marketing year, Ukraine has already exported 3.2 million tons of grains and legumes. In the 2019/2020 marketing year, Ukraine increased its grain exports by 13.5% and reached a new record – 57.2 million tons. Ukraine is unshakably moving towards becoming an agriculture export powerhouse.   

British low-cost EasyJet to launch flights to Ukraine

One of the largest budget carriers in Europe, British EasyJest, announced about launching flights between Italy and Ukraine. According to Italy’s Civil Aviation Authority ENAC, easyJet obtained permission to operate flights from Italy to Ukraine until the end of October 2020. EasyJet carries international flights to over 30 countries with over 300 routes. Earlier this year, Irish low-cost airline Ryanair announced the launch of 16 new destinations between Ukraine and Italy. While Hungarian Wizzair, one of the largest budget airlines in CEE, is planning to start 14 new routes from Ukraine to Italy. 

Flixbus launching new route from Ukraine

German bus carrier Flixbus keeps increasing its footprint in Ukraine by adding new routes to the European cities. The company added new routes from Kyiv to Warsaw with the stop in Polish Radom. Earlier Flixbus launched two routes from Kyiv to Prague and Vilnius. Flixbus is currently operating 11 routes from Ukraine: 9 international (Odesa-Prague-Plzeň, Kyiv-Krakow-Prague, Kyiv-Warsaw, Kyiv-Vilnius, Kyiv-Krakow-Rostock, Kyiv-Cologne, Kyiv-Karlsruhe, Kyiv-Stuttgart, Kyiv-Budapest-Vienna) and 3 domestic (Kyiv-Odesa-Zatoka, Kyiv-Lviv, Kyiv-Uzhgorod).

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