Business news from Ukraine

Business news from Ukraine

UKRAINE CUTS OUTPUT OF ROLLED PRODUCTS AND BUT INCREASES CAST IRON

Ukrainian metallurgical enterprises in January of this year reduced the production of general rolled products, according to recent data, by 1.2% compared to the same period last year, to 1.659 million tonnes.
According to the report of the Ukrmetalurgprom association on Tuesday, in the first month of the year steel production decreased by 0.1%, to 1.841 million tonnes, while cast iron increased by 5.1%, to 1.817 million tonnes.
As reported, over 2020, Ukrainian metallurgical enterprises increased production of general rolled products by 0.7% compared to 2019, to 18.344 million tonnes, reduced steel by 1.4%, to 20.549 million tonnes and increased cast iron by 1.5%, to 20.358 million tonnes.

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THE MEDIEVAL HORSE SHOW WITH MASTER-CLASSES WILL TAKE PLACE NEAR KYIV

On February, 6 and 7 Ancient Kyiv in the Principality of Kyivan Rus («Kyivan Rus Park») invites to the «Horse-trick Weekend». The guests will be awaited by the horse-trick performances, master-classes on ancient martial arts and horse care, tasty dishes prepared on fire, Slavic games, round dances… And all of this in a real medieval city!
On February, 6 and 7 the inhabitants of the Principality will warmly welcome dear guests at the entrance gate and will not let you get bored even for a minute. During these days the visitors will become active participants of the action.
Horse shows with the participation of unique horses of historical breeds will take place on the big tilting-yard of Ancient Kyiv.
After the performances, the horse breeders will tell the guests about the breeds` origin, their characteristics, about which outstanding historical personalities owned the representatives of that or another breed. The experienced instructors will hold open master-classes on horse training and care, where they will tell how to look after these animals for them to be not only healthy and obedient, but also to become faithful friends.
Every visitor will get a chance to walk up to the horses, palm them, make a colorful photo session and even ride on a horseback or in a carriage.
A master-class on horseback archery will be the highlight of the program on February, 6 and 7. The sportsmen-virtuosos will surprise with the historical bow shooting accuracy on a horseback at full gallop. This is an incredibly difficult task for the competition participants, but at the same time, a thrilling and exciting sight for the audience!
 The changes in the program are possible.
The visiting of Ancient Kyiv takes place in compliance with the requirements of the quarantine regime.
Ancient Kyiv is situated in 45 minutes from modern Kyiv – in the Kyiv region, Obukhiv district, vill. Kopachiv.
Ticket price: a full adult ticket – 200 Uah., for pensioners and students – 150 Uah., for schoolchildren – 80 Uah., for preschool children – for free.
Detailed information on the website www.parkkyivrus.com
The Interfax subscribers can save money with the “openbusiness-20” promo code for a 20%-discount for a full price adult ticket to the Principality of Kyivan Rus:
– by previous order by tel.: +38 044 461-99-37, +38 050 385-20-35
– or at the cash desk at the entrance to the «Kyivan Rus Park».

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 03/02/21

National bank of Ukraine’s official rates as of 03/02/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF FEBRUARY 3

Official rates of banking metals from national bank as of February 3

One troy ounce=31.10 grams

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POLTAVA PETROLEUM COMPANY CUTS ROYALTY PAYMENTS IN 2020

JV Poltava Petroleum Company (PPC) has accrued UAH 325.3 million in royalty for 2020, which was 57.5% of the 2019 figure (UAH 564.9 million), PPC said in a press release on Tuesday.
“Lower demand and falling prices for hydrocarbons led to a reduction in the company’s drilling program, which led to a decrease in production, and, accordingly, a decrease in rental income. So, in 2019 JV PPC counted UAH 564.9 million in royalty, which is almost twice more than in 2020,” the company said.
As reported, the company in 2020 reduced gas production by 15% compared to 2019 – to 238.9 million cubic meters, oil and condensate by 5%, to 45,600 tonnes.
At the same time, in 2019, PPC increased gas production by 55%, oil and condensate – by 41%.
Since the beginning of 2020, PPC has drilled three new wells, drilled two sidetracks and seven workovers.
JV Poltava Petroleum Company is a Ukrainian-British joint venture established in 1994 and is a subsidiary of JKX Oil & Gas Plc.

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CHINA HOPES UKRAINE WILL PROTECT RIGHTS AND INTERESTS OF CHINESE INVESTORS

China opposes unilateral sanctions by foreign governments on Chinese enterprises and hopes that Ukraine will protect the legitimate rights and interests of Chinese enterprises and investors, said Wang Wenbin, spokesman for the PRC Ministry of Foreign Affairs.
“China as always opposes unilateral sanctions on Chinese enterprises by foreign governments. In the meantime, we ask Chinese enterprises to abide by laws when doing business overseas. We hope the Ukrainian side will uphold the legal rights and interests of Chinese enterprises and investors,” he said a press conference on Monday, the MFA’s website reports.
At the same time, the Internet edition of ZN.UA reported that on Monday the Ministry of Foreign Affairs of Ukraine received a note from the Ministry of Foreign Affairs of the PRC, in which it expressed concern over the actions of Ukrainian authorities against Chinese investors in Motor Sich, in particular the use of sanctions against Chinese companies and their management.
President of Ukraine Volodymyr Zelensky, by decision of the National Security and Defense Council (NSDC), on January 29 imposed sanctions on Chinese citizen Wang Jing and related Beijing Xinwei Technology Group Co., Ltd; Beijing Skyrizon Aviation Industry Investment Co., Ltd (both are based in Beijing); Skyrizon Aircraft Holdings Limited (British Virgin Islands) and Hong Kong Skyrizon Holdings Limited (Hong Kong), which in recent years have been trying to implement the rights of PJSC Motor Sich shareholders, who are placed on the sanctions list of Ukraine.
According to the decision of the NSDC and Zelensky decree No. 29 dated January 28, 2021, the sanctions imposed for three years provide, in particular, the blocking of assets, restriction of trade operations, partial or complete cessation of the transit of resources, flights and transportation across the territory of Ukraine. Other restrictions include preventing the withdrawal of capital from Ukraine, a complete ban on transactions with securities of which they are issuers, and a ban on the purchase of enterprises in Ukraine. The list of sanctions also includes a ban on increasing the size of the charter capital of business entities in which sub-sanctioned persons own 10% or more, and cancellation of official visits, meetings, negotiations on the conclusion of contracts or agreements.
John Bolton, who at the time was National Security Advisor to then President Donald Trump, spoke about concerns of the United States about the sale of Motor Sich to Chinese owners during a visit to Kyiv at the end of August 2019. At the end of 2019, Chargé d’Affaires of the United States in Ukraine William Taylor said that the United States is counting on a new deal to attract an American or other investor to Motor Sich so that the enterprise is not sold to the Chinese buyer. According to Interfax-Ukraine, this issue was also raised during the visit of U.S. Deputy Secretary of State Stephen Biegun to Ukraine at the end of August 2020.
In addition, the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce early January 2021 put the Chinese company Skyrizon on the Military End-User (MEU) List, cooperation with which requires additional permits. Chinese state-owned company Skyrizon has also been added to the economic blacklist, due to its desire to acquire and indigenize foreign military technology, U.S. Secretary of Commerce Wilbur Ross said.
PJSC Motor Sich is one of the world’s largest manufacturers of engines for aviation equipment, as well as industrial gas turbine units. It supplies products to more than 100 countries around the world.

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