Business news from Ukraine

Business news from Ukraine

UKRAINE COMPLETES FORMATION OF REPRESENTATIVES TO GROUP ON ASSOCIATION AGREEMENT

The Council for Trade and Sustainable Development has selected two representatives of Ukraine to the Group of experts in accordance with Article 301 of the Ukraine-EU Association Agreement, thus Ukraine has completed the formation of its representatives in the Group, the Ministry of Economy reported on the website.
“Based on the results of the interviews with the candidates, two additional experts were selected by voting of the Council members. This allows us to fully form a pool of experts from the Ukrainian side and ensure the full work of the group by the end of this year,” the ministry said following the fifth meeting of the Council on Wednesday.
Additional recruitment of experts from Ukraine became a key issue of the meeting, the Ministry of Economy noted.
The ministry recalled that the expert Group should consist of 15 people: five each from Ukraine and the EU, as well as five people who are not citizens of any of the parties to the Agreement. The main task of the Group is to study any issue under Chapter 13 “Trade and Sustainable Development” of the Association Agreement between Ukraine and the EU, if this has not been satisfied through intergovernmental consultations.
Ukraine selected three experts during the fourth meeting of the Council, held in Kyiv in June 2019.
The approval of the full list of experts requires a decision by the Ukraine-EU subcommittee on trade and sustainable development, which is currently undergoing domestic approval procedures, the Economy Ministry added.

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UKRAINE INTRODUCES BORDER CROSSING RULES FOR ALL UNVACCINATED PERSONS WHO HAVE BEEN IN RUSSIA OR INDIA

In Ukraine, new border crossing rules have been introduced for all unvaccinated persons who have been in Russia or India for more than seven days over the past two weeks, according to the Coronavirus Info Telegram channel.
In particular, a mandatory 14-day self-isolation is established for all unvaccinated persons who have been in Russia or India for more than seven days in the last two weeks.
It is noted that crossing the state border for Ukrainians arriving from any country is unhindered if there is a full course of vaccination or a 063-O certificate of the first vaccination.
“Foreigners are required to have an insurance policy and one of the documents: negative PCR test (72 hours in advance), negative antigen test (72 hours in advance), and a full course of vaccination,” the message says.
It is emphasized that in the absence of the necessary documents, the Vdoma application is installed and the person begins self-isolation after 72 hours, if the result of testing for COVID-19 by PCR or rapid testing for the determination of the SARS-CoV-2 coronavirus antigen, made already in Ukraine after crossing the border, is positive.
“If it is impossible to use the Vdoma application, the person will be under observation,” the message says.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 29/07/21

National bank of Ukraine’s official rates as of 29/07/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JULY 29

Official rates of banking metals from national bank as of July 29

One troy ounce=31.10 grams

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UKRAINE TO SIGN AGREEMENT WITH U.S. ON PROJECTS FOR DEVELOPMENT OF MILITARY EQUIPMENT

The Cabinet of Ministers of Ukraine on Wednesday approved the draft decree on the signing of an agreement between the government of Ukraine and the government of the United States on projects in the field of research, developments, testing and evaluation, the authority to sign the agreement was given to Minister of Defense of Ukraine Andriy Taran, according to the Press and Information Office of the Ukrainian Defense Ministry.
“The signing of this agreement will give the Ukrainian side the opportunity to: conduct joint research and development work on the development of weapons and military equipment, their individual components; obtain information about advanced defense technologies, trends in their development; conduct of tests and testing of military equipment using equipment and technologies that are not available in Ukraine,” the office said.
The agreement also opens up the possibility of attracting foreign funding for research work by Ukrainian research institutions, as well as increasing the research potential of Ukraine through cooperation with partners in joint projects.
The ministry said that the implementation of the agreements will take place under project contracts within the framework of the agreement concluded between the Ministry of Defense of Ukraine and the U.S. Department of Defense.
“The signing of the Agreement is planned during the visit of the President of Ukraine to the United States and will be another important step in the development of strategic partnership with the United States in the field of armaments,” the Defense Ministry said.

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CITIBANK GETS UAH 768 MLN OF NET PROFIT IN UKRAINE IN H1

Net profit of Citibank (Kyiv) amounted in the first half of 2021 to UAH 768.7 million, which is 14.2% more than in the same period in 2020, according to the bank’s report in the information disclosure system of the National Securities and Stock Market Commission.
According to it, the bank’s net interest income decreased over the first six months by 23.4%, to UAH 596.5 million, while the net commission income – by 0.9%, to UAH 125.1 million.
At the same time, the result from transactions with financial instruments recorded at fair value increased 4.8 times, to UAH 112.9 million. Profit from transactions with foreign currency amounted to UAH 117 million versus loss of UAH 52.5 million in the first half of last year.
In addition, Citibank also decreased reserves for the depreciation of securities in the portfolio for sale by UAH 75.7 million, while in the same period last year they had to be increased by UAH 102.4 million.
The bank’s assets decreased in January-June 2021 by 3.4%, to UAH 26.9 billion, although loans and customer debt increased by 49.6%, to UAH 3.74 billion. The bank’s liabilities since the beginning of this year have decreased by 1.4%, to UAH 25.01 billion, including customer funds – by 2.2%, to UAH 24.52 billion.
The bank’s equity capital decreased in the first half of 2021 by 23.9%, to UAH 1.89 billion.
Citibank was established in 1998 and is a subsidiary bank of American Citibank NA.
According to the National Bank of Ukraine (NBU), as of May 1, 2021, Citibank ranked 15th among 73 banks operating in the country in terms of total assets (UAH 27.92 billion).

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