KYIV. June 3 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) has registered the WebMoney.UA payment system with the register of payment systems, reads a report issued by WebMoney.UA on the official Facebook page.
“WebMoney.UA has got the official status of the national payment system. The system was included in the relevant section of the register of NBU payment systems on May 21 this year,” reads the report.
The company also noted that because of its new official status, WebMoney.UA’s legal basis has been strengthened, accordingly legal guarantees for system users and the possibility of monitoring its work by the NBU has increased.
The company added that obtaining official status won’t affect tariffs, the order of funds withdrawal, and other procedures provided by WebMoney.UA.
As reported, in 2013 the then Income and Tax Ministry of Ukraine searched company and froze UAH 60 million held in its accounts. Afterwards, the central investigation department found that the rules of the system’s operations were not agreed with the NBU.
KYIV. June 2 (Interfax-Ukraine) – PJSC AvtoKrAZ (Kremenchuk, Poltava region), the only Ukrainian producer of heavy vehicles, in January-May 2015 increased production by 20% from the same period in 2014, to 452 units.
According to a press release issued by the company, truck sales for the period increased by 16%, to 392 units.
The share of exports of total shipments during this period was 37%, while the domestic market – 63%.
According to the press release, besides basic production – trucks, for five months of this year the company produced and shipped two semi-trailers and eight trailers, while over the same period last year these products were not made.
Truck production in May totaled 96 units, in particular the share of lorries was 95%, chassis – 3%, tractors – 2%.
Last month 96% of manufactured products were for the Ukrainian market, the rest – for exports.
The press service noted that AvtoKrAZ’s production plan for June significantly exceeds the figures of the previous months, however it did not specify the figures.
KYIV. June 2 (Interfax-Ukraine) – There is a plan to introduce a system to submit applications and documents of companies that want to receive construction licenses in an electronic format on the website of the Electronic Administrative Services of the State Architectural and Construction Inspectorate of Ukraine.
The inspectorate reported on Friday that the draft cabinet resolution was drawn up by itself as the law on licensing types of economic activities will take effect from June 28, 2015, and the draft document has been agreed with the Economic Development and Trade Ministry, Finance Ministry and the State Regulatory Service of Ukraine.
“According to the bill, the construction license will be issued by the licensing agency in the electronic form via an entry on the decision of the licensing agency on the issue of the license to companies in the state register of companies and individuals-businessmen,” reads the report.
The inspectorate believes that the electronic form of submitting documents will reduce errors, which would reduce the number of construction licenses which are refused.
KYIV. June 2 (Interfax-Ukraine) – The Association of Drug Producers of Ukraine has said that the selection of a candidate for the post of chairman of the State Service for Medicinal Products and Drugs Control of Ukraine initiated by the Health Ministry of Ukraine was not transparent.
“The Association of Drug Producers of Ukraine has to say that top managers of Health Ministry had a biased approach to the selection of the candidate for the post of chairman of the State Service of Medicinal Products and Drugs Control being formed now,” the association said in a statement.
The association said that after Mykhailo Pasichnyk was dismissed from the post of the head of the State Service for Medicinal Products who headed the service in the past nine months, nongovernmental anticorruption organizations, particularly, the Anticorruption Action Center addressed Health Minister Alexander Kvitashvili in public demanding to hold a public tender to select candidates for the post of the head of the service, which is under the decision of the cabinet is merged with the State Service for Drugs Control.
“Reacting to the calls of the public, Health Ministry announced an open tender to select candidates, but unfortunately, the further process shows that the transparency principles declared by the top managers of the Health Ministry remained declarations in practice,” the association said.
The association said that the association, the European Business Association (EBA) and the American Chamber of Commerce, the total share of the Ukrainian pharmaceutical market is around 80%, presented an initiative to hold a public even on May 26, 2015, and representatives of the professional society, public figures and the health minister were invited to the event. Candidates for the post chairman of the State Service for Medicinal Products and Drugs Control had a chance to present their vision of settling urgent issues in the sector, own concepts of developing the pharmaceutical sector and hold consultations with business and experts.
“Unfortunately, Health Minister Alexander Kvitashvili decided not to join the wide discussion of urgent issues of the sector… The Health Ministry increased the pace of holding interviews with the candidates, paying no more than 10 minutes to each, and the ministry announced as of May 25, 2015 the ministry selected seven candidates and the additional interview for them was scheduled for May 26, 2015, which made impossible the holding of the broad discussion,” the association said.
“The further functioning of the relevant authorized agency is very important for the companies-members of the association and the association plans to apply to the cabinet and prime minister who appoint chairman of the State Service for Medicinal Products and Drugs Control under a proposal of the health minister under Ukrainian law, asking them to attract professional business society to consultations,” the association said.
KYIV. June 2 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko has said that the country’s economy should be de-monopolized and oligarchs should be barred from influencing power.
“Today we should de-monopolize the Ukrainian economy and ban oligarchs from influencing power via transparent and effective European mechanisms,” Poroshenko said on the “Year of Poroshenko” program to mark the first year of his tenure, which aired on Ukrainian television channels on Thursday evening.
“Would oligarchs quickly retreat? No, they protect themselves and they will protect themselves. First they tried to protect themselves with private armies, [which are] threatening to the Ukrainian authorities, but they got a rap on their knuckles and they will get it more,” he said.
He said oligarchs were previously convinced that they could buy any power they sought.
“What did I start doing in fighting against oligarchs? I am independent from any of them. I financed my election campaign myself and until now no kopeck of so-called “aid to the president and administration” has arrived and [such money] will not arrive,” Poroshenko said.
He added that he believes this is not a fight against what he called concrete oligarchs, but is rather the setting of clear principles.
KYIV. June 2 (Interfax-Ukraine) – The Ukrainian Finance Ministry says progress has been made in negotiations with private creditors on restructuring the country’s foreign debt and an agreement on holding a telephone conversation with the ad hoc committee of international commercial creditors on June 5, following intensive negotiations between advisers slated for next week.
“Following today’s [Friday] call between the principals and advisors of the Ministry of Finance of Ukraine and the ad hoc committee of international commercial creditors, the Ministry is pleased that engagement between both parties on restructuring Ukraine’s sovereign debt is accelerating,” the Finance Ministry said in a statement circulated on Friday evening.
The purpose of the telephone talks scheduled for June 5 is to assess progress in the negotiations, it said.
“We reiterate Ukraine’s commitment to negotiate in a collaborative and good faith manner as per international principles. The Ministry is confident that a mutually beneficial agreement will be reached in accordance with the targets agreed under Ukraine’s IMF program,” it said.
The Ministry of Finance also said it welcomes the statement from German Finance Minister Wolfgang Schauble, noting the G7 Finance Ministers’ support for “a successful resolution of Ukraine’s debt restructuring.”
It was reported earlier that, after the IMF had endorsed a new four-year extended fund facility for Ukraine for $17.5 billion, the Finance Ministry started consultations on debt restructuring with creditors for about $23 billion on March 13 so as to save about $15.3 billion on payments while the program remains in effect.
Ukraine has engaged Lazard Freres SAS as a financial adviser and White&Case as a law adviser. The creditors committee has been formed of five major holders of the Ukrainian debt, advised by Blackstone and Weil Gotshal.
The Ukrainian Finance Ministry has said repeatedly that, to attain the IMF program’s targets, not only should the debt clearance deadlines be extended, but also part of these debts should be written off and the interest lowered, except for the loan participation notes issued by Oschadbank, Ukreximbank, and Ukrzaliznytsia.
However, major holders of Ukrainian bonds are unwilling to agree to the cancellation of the principal debt, arguing that the size of the debt relief proposed is too big. Russia also demands the repayment of its $3 million loan to Ukraine by the end of 2015, refusing to agree to its restructuring.
The creditors committee reported on May 18 that it consisted of funds governed or represented by BTG Pactual Europe LLP, Franklin Advisers Inc., TCW Investment Management Company and T. Rowe Price Associates, Inc. and was maintaining regular contacts with other holders of Ukrainian bonds, which hold in aggregate over $10 billion worth of Ukrainian debt. The creditors once again objected to writing the debt off.
To intensify the negotiations, the Ukrainian government passed a bill through the Verkhovna Rada on May 19 entitling it to suspend payments on debts included in the restructuring perimeter. The president signed the bill into law on May 28, but the document has not yet taken legal effect.
