The effect of the Generalized System of Preferences, which allows for duty-free import of more than 3,500 types of goods from Ukraine to the United States, has been suspended for 155 types of Ukrainian goods from April 26, the Ukrainian Economic Development and Trade Ministry reported on Saturday, May 5. “A total of 155 types of goods fall under the restrictions, in particular, some products of the food, light, woodworking industry, engineering, and some electrical appliances,” the ministry said.
The Office of the U.S. Trade Representative enacted these restrictions from April 26 this year, 120 days after the publication of the respective presidential proclamation of December 22, 2017.
“The Economic Development and Trade Ministry has been in constant dialogue with the U.S. government and is working to resolve the problem. At the same time, the lifting of the restrictions largely depends on the adoption by the Verkhovna Rada of bill No. 7466, known as the bill on the organization of collective management,” the report says. It recalls that the bill drafted by the ministry is aimed at establishing an effective and transparent system of collective management of property rights in the field of copyright and related rights in Ukraine. The document was adopted at first reading on March 1. On April 19, MPs began its consideration at second reading.
ELECTRICAL APPLIANCES, ENGINEERING, FOOD PRODUCTS, IMPORT, UKRAINIAN GOODS, USA, WOODWORKING INDUSTRY
Credit Agricole Bank (Kyiv) in January-March 2018 saw UAH 439.944 million in net profit, which is 43.9% more than a year ago (UAH 305.55 million). According to a quarterly financial report of the bank, net interest income over the period amounted to UAH 532.854 million, which is 16.7% more than year-over-year (UAH 456.707 million).
In addition, the bank saw commission income in the amount of UAH 230.538 million (14.8% up year-over-year).
Assets over the period fell by 2.1%, to UAH 30.303 billion, while the charter capital grew by 10.3%, to UAH 3.601 billion.
The bank said in a press release that the bank’s performance in the first quarter of 2018 was the best in the entire history of its operations.
“Universal banking model allows Credit Agricole Bank to diversify its main sources of revenues and to maintain an excellent financial performance. The bank is in a position to compensate adverse trends that are associated with narrowing of market spreads, and to continue further its positive dynamics in 2018. In Q1 2018, Credit Agricole Bank has posted the highest quarterly net result ever achieved which gives good expectations for the whole year 2018,” Management Board Member, Financial Director of Credit Agricole Bank Regis Lefevre said.
Credit Agricole Bank was founded in 1993. Credit Agricole S.A. on January 1, 2018 owned a 99.9961% stake in PJSC Credit Agricole Bank. Credit Agricole Bank ranked 13th among 84 operating banks in the country on January 1, 2018 by total assets (UAH 33.325 billion), according to the National Bank of Ukraine.
One troy ounce=31.10 grams
Public joint-stock company State Food-Grain Corporation since early 2018 has been switching to the agrarian receipts system with most of agricultural producers participating in the company’s forward purchase program. According to a press release of the corporation, the step should accelerate the procedure for approving the advance payments for producers for future harvest grain and ensure larger reliability of the corporation.
The condition of the agrarian receipt is the obligatory delivery of the approved agricultural products to the corporation by the commodity producer. The manufacturer receives the advance payment in the spring, and delivers the products in the autumn.
“In this case, the agrarian receipt significantly reduces the risk of the parties failing to fulfill their obligations under the grain supply agreement for the future harvest,” the corporation said.
As reported, in February 2018, State Food-Grain Corporation announced the start of the spring forward program, under which the corporation would buy winter and spring crops of the 2018 harvest. Under the program it is planned to finance farmers for the amount of almost UAH 1.5 billion in advance. Wheat, barley, corn and oats could be bought under the program.
Public joint-stock company Energomashspetsstal (EMSS, Kramatorsk, Donetsk region), the owner of which is Russia’s Atomenergomash of Rosatom Corporation, plans to supply the last semi-finished products under a project on production of semi-finished products for equipment of reactor one of Turkey’s Akkuyu nuclear power plant (NPP). According to a posting on the website of EMSS, under the contract, which cost is not disclosed, hundreds of semi-finished products for the reactor’s case, steam generator, pressurizer and the upper unit were made and inspected with participation of specialists from the NBPP and Turkish Atomic Energy Authority (TAEK). The company said that in 2015, EMSS successfully passed the TAEK inspection and in January 2016 it was the first company which received the certificate for making semi-finished products for the Akkuyu NPP.
The Akkuyu NPP is being built in Turkey on the coast of the Mediterranean Sea. The project includes four reactors with a capacity of 1,200 MW each. It is planned that after the completion of construction the NPP will generate around 35 billion kWh of electricity a year. The operation life of the NPP is 60 years.
