Business news from Ukraine

Business news from Ukraine

Export of lead from Ukraine in January-July decreased to $6.5 mln

Ukrainian enterprises in January-July decreased imports of lead and lead products by 14.4% to $610 thousand ($50 thousand in July).
According to customs statistics released by the State Customs Service of Ukraine, exports of lead and lead products decreased by 27.8% to $6.492 million (in July – $1.089 million).
Ukraine’s imports of lead and lead products decreased by 65.2% to $989 thousand in 2023.
Lead is currently mainly used in the production of lead-acid batteries for the automotive industry. In addition, lead is used to make bullets and some alloys.

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Cabinet of Ministers of Ukraine proposes to ban websites whose developers subject to sanctions

The Cabinet of Ministers has adopted a draft law “On Amendments to the Law of Ukraine ‘On Sanctions’ on the Prohibition of the Use of Software Products and Access to Electronic Information Resources,” which, in particular, proposes to ban electronic websites in Ukraine developed by foreign persons subject to sanctions, according to Taras Melnychuk, a representative of the Cabinet of Ministers in the Verkhovna Rada.

According to his message on the telegram channel, “the draft law proposes to amend the Law of Ukraine ‘On Sanctions’ by defining new types of sectoral sanctions, in particular, a ban on the distribution and use of software products on the territory of Ukraine by legal entities whose components originate in a foreign country, which has been sanctioned under the Law of Ukraine “On Sanctions”, or whose developer or copyright holder is a legal entity (individual) resident of such a foreign state or a legal entity whose share in the charter document is foreign, as well as a ban on the use of electronic websites.

In addition, it is proposed to prohibit the use of software products from entities engaged in terrorist activities, or whose developers or copyright holders are foreign legal entities or individuals subject to sanctions.

Sanctions may also be imposed on software products created using the source or object code of software products or their components subject to sanctions; access to electronic information resources on the Internet (web pages, websites, other web resources), electronic communication networks, electronic communication systems, information systems, information and communication systems may be prohibited.

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Tropical heat wave returns to Ukraine

On Saturday, August 17, there will be no precipitation in Ukraine, only in most western regions and in Vinnytsia region there will be short-term rain and thunderstorms in some places during the day, the Ukrainian Weather Center reports.

In the Carpathians and Prykarpattia, there will be fog at night and in the morning. The wind is mostly southeast, 3-8 m/s.

Temperature at night 14-19°, in Odesa region up to 22°, in the eastern regions and northeastern part 11-16°; during the day in Ukraine 28-33°, in the southern part and Kirovohrad region in some places 35-36°; in the Carpathians at night 12-17°, during the day 21-26°.

No precipitation in Kyiv on Saturday. Southeast wind, 3-8 m/s. Temperature at night 15-17°, during the day 30-32°.

According to the Borys Sreznevsky Central Geophysical Observatory, on August 17, the highest daytime temperature in Kyiv was 35.7° in 2010, the lowest nighttime temperature was 6.4° in 1885.

On Sunday, August 18, there will be no precipitation in Ukraine, only in the afternoon in the western, Zhytomyr, Kyiv, Vinnytsia, Cherkasy regions there will be short-term rain and thunderstorms.

Wind of variable directions, 3-8 m/s.

The temperature at night will be 15-20°, up to 23° on the coast; during the day 29-34°, in Ukraine, except for most of the western and northern regions, in some places it will be 35-37°.

In Kyiv, on Sunday night, no precipitation, during the day there will be intermittent rain and thunderstorms. Wind of variable directions, 3-8 m/s. The temperature at night will be 18-20°, during the day 31-33°.

China continues to increase power generation

The amount of electricity generated in China in July rose 2.5% year-on-year to a record 883.1 billion kWh, according to the State Statistics Office.

Including generation at hydroelectric power plants jumped 36.2% (to 166.4 billion kWh), at solar power plants – 16.4%, at nuclear power plants – 4.3%. Meanwhile, electricity production at thermal power plants fell by 4.9% (to 574.9 billion kWh).

In January-July, the country generated 5.32 trillion kWh, which is 4.8% higher than in the same period of 2023. At the same time, production at thermal power plants increased by 0.5% (to 3.58 trillion kWh). As reported, China’s power generation in 2023 increased by 5.2% to 8.9 trillion kWh.

 

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Since the beginning of August, 5 more Ukrainian companies have received the status of authorized economic operator

In total, 53 companies now have 55 authorizations, and two companies have received both possible statuses – AEO-C and AEO-B.

Less than two weeks ago, we reported on 48 companies that had received a total of 50 authorizations in different periods of time. Here is the list of companies that have been authorized:

VODALAND INDUSTRY LLC
J.D. EGBERTS UKRAINE LLC
LLC “EKOL LOGISTICS”
PROCTER & GAMBLE UKRAINE LLC
“CUSTOMS BROKERAGE AGENCY “CAPITAL” LLC.

The increase in the pace of accession demonstrates the transparency and reliability of businesses applying for authorizations. At the same time, there has been an increase in the number of multinational corporations that have already had experience of successfully passing the self-assessment procedure to obtain status in other countries. Now they are actively joining the AEO institution in Ukraine to enjoy the relevant benefits and simplifications.

More about the AEO status and authorization to apply simplified procedures at https://customs.gov.ua/deiaki-pitannia-funktsionuvannia-avtorizovanikh-ekonomichnikh-operatoriv

Earlier, roundtables were devoted to customs reform, where the organizer and moderator of the events, Maksim Urakin, stated that the State Customs Service provides up to 40% of the state budget revenues of Ukraine, and these figures have remained stable in recent years. That is why customs reforms are so important for the country.

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India’s gold imports totaled more than $22 billion in first 7 months of 2024

India imported $3.13 billion worth of gold in July 2024, the country’s Ministry of Commerce and Industry said. This is 11% less than in July last year, but 2% more than in June this year.

Demand for gold in India both this year (the season of purchases – August-December), and in the long term can grow significantly due to the reduction of customs duties, says World Gold Council analyst Kavita Chako. Duties on gold have been reduced from 15% to 6%, on gold doré – from 14.35% to 5.35% – such a sharp decline has never been. Moreover, for almost 11 years the duties have never fallen below 10%. The changes came into force on July 24.

In total for 7 months of the year gold imports to India amounted to $22.234 billion, which is 12% more than the result of the corresponding period last year. India is one of the largest consumers of gold in the world, practically not producing it itself.

 

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