Business news from Ukraine

Business news from Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF FEBRUARY 22

Official rates of banking metals from national bank as of February 22

One troy ounce=31.10 grams

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METINVEST INCREASES TAX PAYMENTS IN 2020

The Metinvest Group, taking into account associated companies and joint ventures, transferred UAH 22.1 billion in taxes and fees to budgets of all levels in 2020, which is 5% higher than the level of the year before last.
According to a Friday press release of the company, the largest payment of the group’s total payments was income tax. Last year, Metinvest enterprises paid more than UAH 5.2 billion of this tax to the treasury, which is one third less than in 2019.
This is followed by a single social security contribution, the payment of which increased by 18% compared to 2019, to UAH 5.2 billion.
Metinvest enterprises last year transferred UAH 4.7 billion of personal income tax to the budgets, which is 17% more than in 2019.
In addition, the sources of receipts of the state and local budgets in 2020 were the payment for the use of subsoil in the amount of UAH 2.2 billion, the environmental tax of UAH 789 million and the land fee of UAH 713 million.

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PRESIDENT OF UKRAINE MAKES CHANGES TO COMPOSITION OF FINANCIAL STABILITY COUNCIL

President of Ukraine Volodymyr Zelensky has made changes to the composition of the Council for Financial Stability of Ukraine, the website of the head of state has said.
In accordance with decree No. 60/2021 “On Amendments to the Regulations on the Financial Stability Council”, the Council includes the Deputy Head of the President’s Office, which is responsible for economic policy issues, as well as another Deputy Head of the National Bank of Ukraine (previously there was one deputy) who take part in its work on a voluntary basis.
Also, according to the new amendments, from now on, a meeting of the Council will be legally qualified if at least six members of the Council are present, including at least one representative from the National Bank of Ukraine and the Ministry of Finance of Ukraine.
In addition, decisions of the Council will be made by a qualified majority of votes of the members of the Council present at the meeting (at least five votes – if six members of the Council take part in the meeting, or at least six votes – if seven or eight members of the Council participate in the meeting).
It is noted that the decree comes into force on the day of its publication.

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SOUTH KOREAN HYUNDAI CORPORATION READY TO START NEGOTIATIONS ON LOCALIZATION OF HIGH-TECH PRODUCTION IN UKRAINE

South Korean Hyundai Corporation is preparing to start negotiations on the possible localization of high-tech production in Ukraine.
“Hyundai also plans to begin detailed negotiations on the possibility of investing in Ukraine and transferring technologies to localize the production of complex technologies,” said Eun Soo Choi, Vice President of the Commercial Transport and Energy Division of Hundai Corporation, during the All-Ukrainian Forum “Ukraine 30. Infrastructure” on Monday.
He also stated that Hyundai Corporation is inviting Ukrainian President Volodymyr Zelensky and representatives of the Ukrainian government to visit Hyundai’s facility in Korea.
The South Korean Hyundai Corporation will allocate $2 million in grant funds for the development of a pre-feasibility study for the construction of a high-speed European-gauge railway network (1,435 mm).

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UKRAINIAN-U.S. ANTARES LAUNCHER ROCKETS INTO ORBIT

The Ukrainian-U.S. Antares launcher rocketed into orbit, deploying a ship carrying cargo to the International Space Station (ISS), the press service of the State Space Agency of Ukraine has reported.

“The launch vehicle rocketed into orbit the Cygnus supply ship, carrying about 3,629 kg of NASA payload to the International Space Station – packaging for the crew, materials for scientific research, equipment for the station and spacewalk, computers and components, CubeSats,” the agency said last week.

The launcher took off from the Mid-Atlantic Regional Spaceport at Wallops Island, Virginia, the United States at 19:36 Kyiv time on February 20 and it is the first launch of the Antares LV in 2021.

The preparation of launch vehicle Antares, its tests and start-up were carried out by specialists of SOE Design Bureau Pivdenne (Yuzhnoye), SOE Pivdenmash (Yuzhmash) and Hartron-Arkos scientific-production association. From the territory of Design Bureau Pivdenne, the launch support was provided in real time, telemetric information was processed.

According to the space agency, the Antares launch vehicle consists of two stages and the Cygnus supply ship (third stage). The main design of the first stage was developed by SOE Design Bureau Pivdenne and manufactured by SOE Pivdenmash in cooperation with the Ukrainian enterprises Khartron-Arkos (Kharkiv), Kyivprylad (Kyiv), Hartron-UCOM (Zaporizhia), CHEZARA (Chernihiv Plant of radio equipment), RAPID (Cherhiniv-based sensor enterprise), etc. The main designer of the launch vehicle is U.S. Northrop Grumman.

“I hope that soon the Ukrainian cooperation of enterprises will produce a fully domestic product – a medium-class launch vehicle, which will become the flagship of our rocket industry for the coming years,” acting head of the agency Mykhailo Lev said.

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UKRAINE JOINS SANCTIONS AGAINST YEMEN AND MALI

President of Ukraine Volodymyr Zelensky has introduced into action the decisions of the National Security and Defense Council of Ukraine, by which Ukraine joined the sanctions imposed by the UN Security Council against the Republic of Mali and the Republic of Yemen.
The decision provides for the application of sanctions against individuals. The Cabinet of Ministers and the Security Service of Ukraine are instructed to ensure the implementation and monitoring of the effectiveness of the sanctions, the Ministry of Foreign Affairs is to inform the UN Security Council and the competent authorities of the European Union, the website of the President of Ukraine reported on Saturday.
A personal list of persons against whom sanctions have been imposed is contained in the order of the Cabinet of Ministers dated January 20, 2021.

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