Business news from Ukraine

Business news from Ukraine

STATE-CONTROLLED UKRGASBANK WON’T PAY DIVIDENDS FOR 2019

State-controlled Ukrgasbank (Kyiv) does not plan to pay dividends for 2019, according to the agenda of an annual remote meeting of shareholders, scheduled for July 7, posted on the bank’s website.
“Given the restrictions established by Article 31 of the law on joint-stock companies, payment of dividends on Ukrgasbank shares won’t be carried out in 2019,” the document says.
According to the agenda, the supervisory board proposes to distribute the profit received by Ukrgasbank in 2019 in the amount of UAH 1.29 billion as follows: UAH 128.9 million (10%) is to be allocated to the reserve fund, and UAH 1.16 billion (90%) to cover losses of the previous years.
Ukrgasbank was established in 1993. The state represented by the Ministry of Finance owns 94.9409% of the shares of the financial institution.
According to the National Bank of Ukraine (NBU), as of May 1, 2020 Ukrgasbank ranked fourth (UAH 148.589 billion) in terms of total assets among 75 banks operating in the country.

UKRAINE REDUCES SCRAP METAL EXPORTS BY 55%

Ukrainian enterprises in January-May of this year reduced export of scrap metal by 54.8% compared to the same period last year, to 16,489 tonnes (36,515 tonnes were exported in January-May 2019).
According to statistics released by the State Customs Service, in terms of money, scrap exports fell by 58.1%, to $4.181 million.
In January, 2,865 tonnes of scrap metal were exported, in February some 8,014 tonnes, in March 493 tonnes, in April 256 tonnes, and in May 4,861 tonnes.
At the same time, in January-May of this year, the country reduced imports of scrap metal in natural terms by 76.2% compared to the same period last year, to 6,841 tonnes. In monetary terms, this indicator decreased by 49.9%, to $7.411 million.
Scrap metal was imported mainly from Turkey (65.46% of supplies in monetary terms), the Russian Federation (26.52%) and the Netherlands (5.07%), exports were made to Turkey (78.41%), the Netherlands (11.29%), and Germany (7.22%).
In addition, the metal enterprises of Ukraine in January-May 2020 imported 1,602 tonnes of products of direct reduction of iron from ore according to code 7203 (hot briquetted iron), which is a substitute for cast iron and scrap metal, in the amount of $481,000, whereas in January-May 2019 they did not import this product from the Russian Federation and did not export it.

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VOLUME OF SERVICES RENDERED IN UKRAINE 5.5% UP IN Q1

The volume of services rendered by Ukrainian enterprises in January-March 2020 amounted to UAH 226.97 billion, which is 5.5% more in comparable prices than in the same period in 2019 (UAH 215.2 billion), the State Statistics Service has reported.
According to the report, the volume of services sold to the population accounted for 23.1% of the total volume of services sold.
The State Statistics Service recalled that in the first quarter of 2019, the volume of services provided by Ukrainian enterprises increased by 2.7%, in the second quarter by 3.5%, in the third quarter by 6.2%, and in the fourth quarter by 0.2%.

MINISTRY OF HEALTH OF UKRAINE ESTABLISHES UNIT FOR TRANSPLANTATION, TREATMENT ISSUES OF UKRAINIANS ABROAD

The Ministry of Health of Ukraine has created a separate unit, whose task will be the transplantation and treatment of Ukrainian patients abroad, the press service of the Ministry of Health reported on the Telegram channel.
“I want the number of Ukrainian patients who are being treated abroad to constantly decrease. I want them to be treated in Ukraine, to develop transplantation in Ukraine. We have everything for this. The main thing is that we have specialists who can transplant. We just need to create a certain system that would allow this to be done in Ukraine. We are doing this now,” Minister of Health Maksym Stepanov said at a daily briefing.

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UKRAINIAN EMBASSY IN US GRADUALLY RESTORING RECEPTION OF VISITORS FROM JUNE 9

The Ukrainian Embassy in the United States is gradually restoring the reception of citizens, it will be carried out exclusively by appointment, the Ukrainian diplomatic mission said.
“We inform that from June 9, 2020, the Embassy is gradually restoring the reception of visitors on consular issues,” the Embassy said on its Facebook page on Friday evening.

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UKRAINIAN PARLIAMENT SETS UP AD HOC PANEL ON PROTECTION OF INVESTORS’ RIGHTS

Verkhovna Rada of Ukraine has set up an ad hoc panel on protection of the investors’ rights.
A total of 319 MPs voted for this resolution at its plenary meeting on Friday.
According to an explanatory note, setting up of the commission will promote conditions for the investment activity in Ukraine and protection of rights and freedoms of the investors.
Member of the Servant of the People faction Halyna Yanchenko became head of the panel, Holos faction member Yaroslav Zhelezniak became her deputy. Eleven MPs make up the panel.