Business news from Ukraine

Business news from Ukraine

ILLICH STEEL MILL INCREASES PRODUCTION OF ROLLED PRODUCTS BY 10%

Mariupol-based PJSC Illich steel mill, a member of the Metinvest group, in January-November of this year increased the production of general rolled products, according to operational data, by 9.8% compared to the same period last year – to 3.34 million tonnes.
Steel production during this period increased by 12.9% – up to 3.7 million tonnes, pig iron – by 5.2%, to 4.32 million tonnes, sinter – by 12, 6%, to 11.28 million tonnes, the enterprise told the Interfax-Ukraine agency.
In November, the mill produced about 330,000 tonnes of general rolled products, 350,000 tonnes of steel, 370,000 tonnes of pig iron, and 1.1 million tonnes of sinter.

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ALFA INSURANCE COLLECTS UAH 1 BLN OF PREMIUMS

Alfa Insurance (Kyiv) in January-November 2020 collected UAH 1 billion, this is the first such indicator for the period of its work.
According to the insurer’s website, during the specified period, the bulk of premiums from the total insurance portfolio was received from the sale of products for personal insurance and KASKO insurance – 78%, while 22% accounted for insurance of property, cargo, liability, etc.
“Achievement of insurance premiums in the amount of UAH 1 billion in such a difficult year gives confidence in the correctness of the company’s development strategy and customer confidence. As for the product range, the key focus will be on medical insurance. Already, the company’s clients on voluntary medical insurance are more than 110,000 insured. In 2021, it is planned to invest in the digital transformation of current processes and the launch of innovative online solutions,” Viktor Grek, a member of the company’s board, said.
Alfa Insurance was founded in June 2000 and is among the top ten leaders of the Ukrainian insurance market. It offers a versatile portfolio of services, including comprehensive business protection programs and a wide range of insurance products for individuals.
The company has 25 licenses, including 18 for voluntary and seven for compulsory types of insurance. The company’s services are used by about one million customers.

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KYIV AIRPORT REDUCES PASSENGER TRAFFIC BY 72%

Passenger traffic at Kyiv Sikorsky International Airport in January-November 2020 amounted to 670,900 passengers, which is 72.2% less than in the same period in 2019.
According to the airport’s website, the number of passengers served on international flights amounted to 656,200, on domestic – 14,700.
The number of flights in January-November 2020 amounted to 11,820 for arrival/departure, which is 53.8% less than the same period in 2019, of which international flights amounted to 9,430, domestic to 2,390.
The most popular international destinations since the beginning of 2020 were Warsaw (Poland), Minsk (Belarus), Berlin (Germany), Vienna (Austria), London (the United Kingdom), Memmingen and Dortmund (Germany), domestic – Zaporizhia, Dnipro and Odesa.
In November 2020, the airport served 24,200 passengers, which is 86.6% less than in November 2019. The number of passengers served on international flights was 22,400, domestic flights – 1,800 passengers.
The number of flights in November 2020 was 865 for arrival/departure, which is 57.4% less than in the same period in 2019, of which international flights were 680, domestic – 185.
The most popular international destinations in November 2020 were Vilnius (Lithuania), Warsaw (Poland), Dortmund (Germany), Berlin (Germany), London (the United Kingdom), Copenhagen (Denmark), Gdansk (Poland); internal – Zaporizhia, Lviv and Odesa.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 10/12/20

National bank of Ukraine’s official rates as of 10/12/20

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF DECEMBER 10

Official rates of banking metals from national bank as of December 10

One troy ounce=31.10 grams

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UKRAINIAN SMALL FILLING STATIONS UNITED WITHIN NATIONAL ASSOCIATION OF PETROL RETAILERS

Modular (small) filling stations are united within the National Association of Petrol Retailers to protect their interests and work out the creation of uniform rules for the placement of facilities in the event of existing contradictions in the legislation.
“Thus, the small business sector in the petroleum product market is trying to protect its legal rights and stop the obstruction of its activities by local regulatory authorities,” the association said in a press release.
According to the association, at present, the current legislation contains certain features of the legal regulation of the manufacture, certification, establishment and operation of small filling stations. In particular, small filling stations are not classified as high-risk facilities, they are not required to carry out an environmental impact assessment on the environment, they are not classified as real property.
The association said law enforcement and regulatory agencies do not take into account the peculiarities of the legal status of modular filling stations, which leads to numerous restrictions in their economic activities and relevant losses to this sector of small business.
“The members of the association emphasize that there is a contradiction in the interpretation of the provisions of the current legislation in the field of licensing of retail trade in fuel by the territorial agencies of the State Tax Service of Ukraine, which creates obstacles in the implementation of economic activities and affects the overall shadowing of the small filling station sector,” the association said.
According to the association, tax authorities unreasonably regard small filling stations as construction facilities and require from them acts of commissioning and readiness for operation of the facility.
“Such requirements of the tax authorities contribute to the monopolization of the fuel market in Ukraine and hinder its development on the basis of transparent economic competition. Therefore, the members of the association demand the creation of unified regulatory, production, construction, administrative and procedural bases for the placement of small filling stations,” the association said.
First of all, this concerns the formulation of clear explanations regarding the regulation of the activities of small filling stations and the definition of limiting list of documents required for licensing retail trade in fuel in accordance with Part 38 of Article 15 of the law on state regulation of the production and turnover of ethyl alcohol, cognac and fruit alcohol, alcoholic beverages, tobacco products and fuel.
The association draws the attention of the Verkhovna Rada Committee on Finance, Tax and Customs Policy to these problems of regulatory support in order to obtain substantiated professional explanations and recommendations. “This will make it possible to obtain uniform transparent principles for licensing retail trade in fuel for all market participants,” the association said.

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