KYIV. Oct 26 (Interfax-Ukraine) – The National Commission on Securities and the Stock Market has prepared a package of bills to establish a regulated market of raw materials and launch derivatives, its head Timur Khromaev has said.
“We’re collecting parliamentary groups and the committee to present them a set of laws on derivatives and regulated markets,” he said in an interview with Interfax-Ukraine.
Khromaev stressed that Ukraine is almost the only country in the world which does not regulate the raw materials market.
“In these draft laws we introduce the notion of a regulated market of raw materials and a capital market and also introduce other new concepts, new principles of work and capital requirements,” he said.
According to him, the Ministry of Economic Development and Trade and the Ministry of Agricultural Policy and Food agree with the fact that the securities commission is now the engine which is driving the development of the commodities market.
“They support the idea that we need to streamline this market and use the principles of work of the stock market to increase the transparency of the market of raw materials,” the expert said.
He said that the prepared set of draft laws is currently being coordinated with these ministries, while the EBRD and USAID are also actively participating in the process. The commission also intends to hold active discussions with other regulators and with Ukrainian and global market participants.
KYIV. Oct 26 (Interfax-Ukraine) – Public joint-stock company Odesa Port-Side Plant saw UA 205.298 million in net profit in January-September 2015 compared to UAH 243.42 million of net loss year-over-year.
The company said in a report that its net revenue grew by 2.1 times or UAH 4.398 billion, to UAH 8.577 billion. Gross profit totaled UAH 1.321 billion, while in January-September 2014 its gross loss stood at UAH 84.044 million.
In January-September 2015, the plant produced 1.155 million tonnes of mineral fertilizers and sold 1.162 million tonnes of fertilizers.
Odesa Port-Side Plant is in state ownership. The plant transships ammonia to vessels and produces chemical products.
KYIV. Oct 26 (Interfax-Ukraine) – Net interest-bearing income of Raiffeisen Bank Aval (Kyiv) grew by 20.8% in January-September 2015 year-over-year, to UAH 4.271 billion.
The bank said in a quarterly report that its loss totaled UAH 2.064 billion in January-September 2015, which is 50.8% up year-over-year (UAH 1.369 billion).
In Q3 2015, the loss amounted to UAH 71.376 million, which is 80.4% down year-over-year (UAH 365.908 million).
Total assets grew by 12.8%, to UAH 52.639 billion.
Credits and debts of clients decreased by 13.2%, to UAH 25.961 billion.
Reserves for overdue credits reached 85.9% of the total sum of credits and clients’ debts as of early October, while as of early 2015 they were 46.7%.
The charter capital of the bank remained UAH 3.003 billion and net worth fell by 35.4%, to UAH 3.843 billion.
The bank said that the loss was seen due to hryvnia devaluation, the bank also formed additional reserves and revised the currency position. The bank saw loss also due to the stoppage of operation in the Anti-Terrorist Operation (ATO) zone and due to the worsening of the economic situation in Donbas.
However, the operating profit was large.
“These improved results allowed the bank to see total operating profit of UAH 3.3 billion in Q3 2015, which is a clear evidence of the efficiency and proper development of the institution,” the bank said in the report.
Capital adequacy coefficient of the bank is 13.23% with the requirement of at least 10%.
Raiffeisen Bank Aval was founded in 1992. As of late September 2015, Raiffeisen Bank International held 96.5% of shares in the Ukrainian bank.
RBA ranked sixth among 127 banks operating in the country on July 1, 2015 by total assets (UAH 52.414 billion), according to the National Bank of Ukraine.
KYIV. Oct 26 (Interfax-Ukraine) – Public joint-stock company Ukrtelecom saw UAH 493 million in net profit in January-September 2015, while a year ago its loss stood at UAH 21.7 million, Ukrtelecom Head Yuriy Kurmaz said at a meeting with reporters on Friday.
The company’s net revenue over the period grew by 0.7%, to UAH 4.766 billion.
This year revenue from fixed communications continued falling, which reflected the trend of replacing fixed communications services by mobile communications services, Kurmaz said. In Q1-Q3 2015, revenue stood at UAH 2.388 billion, which is 8.1% down year-over-year. The operator serviced 7.2 million subscribers on this market as of late Q3 2015.
Revenue from broadband Internet access services showed growth – a rise of 6.5% year-over-year, to UAH 984 million. As of October 1, 2015, Ukrtelecom serviced over 1.6 million subscribers.
According to the presentation published at the meeting, the revenue structure of the operator over the period was distributed in the following way: UAH 2.733 billion was received from B2C (business-to-consumer), UAH 940 million – B2O (business-to-operator) and UAH 892 million – B2B (business-to- business).
Ukrtelecom paid UAH 1.47 billion to the national budget in the past three quarters.
In October 2013, 100% of UA Тelecominvest Limited which holds 100% in ESU LLC, which in turn, held 92.79% of shares in Ukrtelecom, was bought by Ukrainian businessman Rinat Akhmetov’s SCM holding.
KYIV. Oct 26 (Interfax-Ukraine) – Ukrainian Prime Minister Arseniy Yatseniuk has announced five areas of cooperation with Germany, summing up the Ukrainian-German Economic Forum held in Berlin.
In the TV program “Ten minutes with the prime minister” Yatseniuk said that the key fields of investment in Ukraine for German businesses are transport infrastructure, agriculture, energy, and energy efficiency.
He noted that together with German Chancellor Angela Merkel on October 23 he opened the first powerful conference in the history between Ukrainian and German businesses.
“The German business over the past year and a half has not left Ukraine but, on the contrary, is willing to continue investment in the Ukrainian economy,” Yatseniuk said.
According to him, German business representatives say that Ukraine “has done a lot but more should be done so that German investment come to Ukraine, create new enterprises, new jobs and bring new technologies here.”
The key field of German investment in the Ukrainian economy, according to the premier, is primarily transport infrastructure. He said the government has started negotiations with Germany’s Siemens to upgrade the rolling stock of Ukrainian railways and perform their modernization.
KYIV. Oct 23 (Interfax-Ukraine) – The Cabinet of Ministers has approved the draft law on amendments to some legislative acts concerning copyrightprotection and related rights on the Internet, the Ministry of Economic Development and Trade has announced.
According to the report, the bill will be submitted to the Verkhovna Rada as soon as possible.
The document was previously posted on the ministry’s website for public discussion.
The bill proposes the introduction of penalties in the amount of 500 to 1,000 non-taxable minimum incomes if a website owner’s fails to fulfill the requirements for the removal or prevention of access to information in violation of copyright on the Internet. The same penalty is expected for the failure of the website owner or the hosting provider to give information that identifies the user who posted illegal information. Actions taken under this article are to be punished by a fine of 1,000 to 2,000 untaxed minimum incomes.
At the same time, it is proposed to punish for untrue requirements for limiting access to resources. If the complaint contains false information onthe copyright of a person bringing the complaint, the fine will be 1,000 to 2,000 untaxed minimum incomes. The same penalty may be imposed onpersons for unfair requirements on the resumption of access to information violating copyright or related rights.
