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Money sent home by Ukrainians working abroad totaled $5.5 billion during the first half of this year, up 31% year over year. For the 12 months ending in June, Ukrainians sent home $11 billion, the National Bank of Ukraine calculated. This is 10% of Ukraine’s $112 billion GDP.
The bank, nationalized in 2016, is holding a competition among Ukrainian and international companies. Privatbank has set a minimum $37M price for its share of the Radisson Blue Resort Bukovel hotel, and a minimum $78M price for its share of the Bukovel ski resort.
The $280M bridge from Orlivka (Ukraine) to Isaccea (Romania) would cut 2 hours off the drive from Odesa to Turkey and would be part of the European E87 highway. On Friday, President Poroshenko of Ukraine and PM Borisov of Bulgaria inspected repairs on the Odesa-Reni stretch of the road. With upgrades on this 320 km highway nearly complete, the freight traffic…
CMEC (China Machinery Engineering Corporation) and DTEK broke ground a 200 MW, 400 ha, $265M solar farm near Nikopol. In six months it would be Europe’s second largest, after France’s Cestas 300 MW solar station. Financed by DTEK and CMEC, it will use equipment from Chinese companies: Seraphim Solar System and Trina Solar will provide 750,000 solar panels, and Shenzhen…
World Bank predicts Ukraine’s economy will grow by 3.3% this year, and possibly by 4% next year, according to Faruk Khan, the Bank’s lead economist for Ukraine, Belarus and Moldova. Without an IMF accord this fall, growth could tumble to 2% next year, he told reporters on October 4.
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