Business news from Ukraine

Business news from Ukraine

UKRAINE INCREASES STEEL OUTPUT BY 7.5% IN H1

Ukrainian metallurgical enterprises increased the production of general rolled products, according to recent data, by 6.6% in January-June this year compared to the same period last year, to 9.625 million tonnes.

According to the report of the Ukrmetalurgprom association, in the first five months of the year steel production grew by 7.5%, to 10.859 million tonnes, while cast iron output increased 8.1%, to 10.79 million tonnes.

In June, 1.602 million tonnes of rolled metal, 1.872 million tonnes of steel, and 1.887 million tonnes of cast iron were produced.

As reported, in 2020, Ukrainian metallurgical enterprises increased the production of general rolled products by 0.7% compared to the previous year, to 18.344 million tonnes, reduced steel output by 1.4%, to 20.549 million tonnes and increased cast iron production by 1.5%, to 20.358 million tonnes.

CITIZEN OF PARAGUAY INTENDS TO ACQUIRE 100% IN UKRAINIAN LINGERIE MANUFACTURER

A citizen of Paraguay intends to acquire 100% of the charter capital of PrJSC Wild Orchid, Ukraine, the lingerie manufacturer (Lubny, Poltava region), according to the information disclosure system of the National Securities and Stock Market Commission. According to the report, Rocio Esther Guerrero Lopez, registered in Paraguay, announced its intention to independently acquire 1,424 common registered shares of Wild Orchid, Ukraine (100% of the charter capital), while as of June 25 of this year, she and the persons affiliated with her did not own the shares of the company.
According to the National Securities and Stock Market Commission, in the first quarter of this year, 100% of the shares of the joint-stock company belonged to Irina Meier, registered in Malta, and until December 2019, this package belonged to Russian businessman Vyacheslav Balabaev.
As reported, PrJSC Wild Orchid, Ukraine (then it was CJSC) was founded in 2005 as a chain of luxury lingerie stores and was a subsidiary of the Moscow-based lingerie retailer Wild Orchid Group.
According to the National Securities and Stock Market Commission, in 2014, Russia’s Etamin LLC became the owner of 100% of the shares of the Ukrainian company instead of CJSC Wild Orchid Group, and already in 2015 an individual from Ukraine, who was replaced by Balabaev in the second quarter of 2017, was the owner.

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GERMANY PROMOTES EXTENSION OF AGREEMENT ON GAS TRANSIT THROUGH UKRAINE

Federal Minister of Finance of the Federal Republic of Germany Olaf Scholz said that Germany will seek the extension of the agreement on gas transit through Ukraine.
“We work very hard to make sure that the gas transit agreement between Ukraine and Russia is prolonged,” Scholz said in an interview with Bloomberg on Friday.
According to the position of Germany, the Nord Stream 2 gas pipeline, which runs along the bottom of the Baltic Sea, should be finished, but gas transit through Ukraine should be preserved.
According to Scholz, Germany sees its responsibility to ensure transit through Ukraine in the future, and not only for two or three years, but for decades to come.
The current agreement, according to Government Spokesperson Steffen Seibert, is valid until at least 2024, but the agreement implies that the parties will check the possibility of extending the agreement until 2034.

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LUKASHENKO ORDERS CLOSE BORDER WITH UKRAINE

President of Belarus Alexander Lukashenko, whom the U.S. and EU do not recognize as legally elected, instructed the border troops to completely close the border with Ukraine.
He said this on Friday at a solemn meeting to mark the Independence Day, the BelTA state news agency reports.
“A huge amount of weapons is coming from Ukraine to Belarus. Therefore, I instructed the border troops to completely close the border with Ukraine,” Lukashenko said.
He said that terrorist “sleeper” cells, the so-called self-defense formations, had been detected in Belarus.
“Terrorist sleeper cells, so-called self-defense formations have been detected today. These cells intend to overthrow the government at a specified date. They don’t know what date yet: our nation has yet to accept it,” Lukashenko said.
According to him, Germany, Ukraine, the United States, Poland and Lithuania are involved in this.

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UKRAINIAN PARLIAMENT CANCELS CRIMEA FREE ECONOMIC AREA

The Verkhovna Rada of Ukraine has canceled the Crimea free economic area, which was introduced by law in August 2014.
The adoption of relevant bill No. 5502-d on recognizing as invalid the law of Ukraine on the creation of a free economic area “Crimea” and on the specifics of performing economic activities in the temporarily occupied territory of Ukraine and on amending some legislative acts of Ukraine was supported by 328 MPs.
“Taking into account the circumstances that operated in 2014, the law, in fact, introduced preferential conditions for the continuation of economic activities in the temporarily occupied territory. At the same time, the law regulated the implementation of the rights of Ukrainian citizens who remained to live in the temporarily occupied territory and introduced additional restrictions (in particular, customs), in the tax legislation such citizens were equated to non-residents,” the government said in the explanatory note.
The authors of the bill said that such restrictions have led to discrimination against citizens of Ukraine who have remained to live in the temporarily occupied territory or are registered in this territory.
In particular, the status of non-residents led to restrictions on access to banking services in the territory controlled by Ukraine. International and national human rights organizations have repeatedly stated about the negative consequences of the law for the observance of human rights and freedoms.
In addition, bill No. 5502-d proposes to regulate the procedure for persons entering and leaving the temporarily occupied territory, securing the right to free secondary legal aid for Ukrainian citizens living in the temporarily occupied territory and ensuring the implementation of the right to inheritance for such persons.
The Verkhovna Rada at an extraordinary meeting on Thursday also supported bill No. 5501, which amends the Tax Code regarding the administration of taxes and fees in the temporarily occupied territory of the Autonomous Republic of Crimea and the city of Sevastopol, and bill No. 5503 on amendments to the Customs Code in connection with the adoption of the law on the abolition of the Crimea free economic area.

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INTERNATIONAL EUROPEAN UNIVERSITY ORGANIZES INTERNATIONAL SCIENTIFIC CONFERENCE: “25TH ANNIVERSARY OF THE CONSTITUTION OF UKRAINE”

International European University held an international scientific conference: ‘25th Anniversary of the Constitution of Ukraine: National Tradition and European Standards of Constitutionalism’, involving honored guests, public officials, students, Ph.D. students, young scientists, lawyers and political strategists.

Due to the global epidemiological situation, International European University developed the plan of actions and took care of all participants. At the entrance of the university, our partners, medical professionals from New diagnostics laboratory, carried out PCR testing and provided participants with face masks.

The conference was opened by Alla Navolokina, a co-founder and vice-rector for educational and scientific work and international relations of International European University. Mrs. Alla stressed the importance of the event, as the Constitution of Ukraine secured the right to education. According to the Constitution, the social and cultural right to education provides everyone in Ukraine with the possibility to acquire knowledge, abilities, skills and professional training based on mutual cooperation of various entities of the education sector.

International European University respects the Constitution Day of Ukraine and complies with the Fundamental Law of Ukraine to secure the rights and freedoms of each citizen in this state.

Honored guests of the conference included:

Anatolii Tolstoukhov

Ukrainian public official, policymaker and scientist, first rank civil servant, Ph.D., academician at the National Academy of Educational Sciences of Ukraine. Chair of the Council for International European University Development.

Franz-Volodymyr von Habsburg-Lothringen

Descendant of Emperor Franz Joseph. President of International European University.

Mokhammad Faradzhallakh
Editor-in-chief of “Ukraine in Arabic”

Kateryna Odarchenko

Head of National Platform political party, President of the Institute for Democracy and Development “PolitA”, partner of SIC Group Ukraine.

Tamara Marusyk

Vice-rector for research, education and instruction of Chernivtsi National University.

Sam Noshadha

Vice-rector for international relations, responsible for prevention and detection of corruption, of Academy of Labour, Social Relations and Tourism. Judge of the International Commercial Arbitration Court. He is recognized by the best lawyers in Ukrainian commercial law.

Bohdan Kushnir

Attorney, director of Argument Law Firm, founder of International Human Rights Association “National Lawyer”.

Sadaqat Hussain

Representative of foreign students at International European University.

Natalia Kozaeva

Head of the Notary Chamber of Ukraine in Kyiv, member of the Council of National Pedagogical Dragomanov University.

Volodymyr Omelchenko

Director of energy and infrastructure programs at Razumkov Centre.

The conference continued in the format of panel sessions where participants, students and invited guests discussed relevant issues of the development of Ukrainian legal science and practice.

Quite symbolic is the fact that this year, Ukrainians celebrate two significant dates: 25th Anniversary of the Constitution of Ukraine and 30th Anniversary of the declaration of Ukrainian independence.

It is symbolic for International European University because, on the eve of these dates, one has founded the university and started its operations as an institution developing each citizen of the new world order.

To sum up, the conference showed the significance of the dialogue, scientific comprehension and educational issues for both the university community and public officials and society.

Thus, in regard to this great Ukrainian holiday, we wish us to live in the constitutional state that respects the rights and fulfils its obligations, as well as features mutual respect and equality. The state respected and appreciated on the global stage. In the state called Ukraine!

Live broadcasting of the conference is available here.

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