The State Service of Geology and Subsoil of Ukraine has signed a memorandum of technical assistance with the European Bank for Reconstruction and Development (EBRD), head of the State Geology Service Roman Opimakh said on his Facebook page on Wednesday.
“The document provides for work on digitization of secondary geological information, the development of IT architecture and the functionality of the State Geology Portal,” Opimakh wrote.
The memorandum was signed with EBRD First Vice President Jürgen Rigterink as part of the Raw Materials Week, which is taking place in Brussels with the support of the European Commission and the Ministry of Natural Resources of Ukraine. The signing took place in the presence of the Vice President of the European Commission Maroš Šefčovič and the Minister of Environmental Protection and Natural Resources of Ukraine Ruslan Strilets.
According to the document, the EBRD is the executor, the State Geology Service is the key beneficiary, and specialists of the State Research and Development Enterprise State Geological Information Fund of Ukraine (Geoinform of Ukraine) are the contractors of the project, the head of Ukraine’s Geology Service noted.
“The work is designed for three years and provides for the purchase of equipment and the arrangement of a server room in the first half of 2023 – ventilation, physical access, uninterrupted power supply,” Opimakh informed.
Also next year, at least 20,000 geological information storage units will be digitized and published on the State Geology Portal in accordance with the best world practices.
“The implementation of the project will not only digitize and place secondary geological information in the public domain, but also significantly improve the interface for searching geological reports through interactive maps that will be posted on the State Geology Portal,” the head emphasized.
At the same time, the translation of abstracts, reports and an English-language search engine will become convenient tools for foreign investors interested in the development of Ukrainian subsoil.
According to Opimakh, the key objectives of the project are, in particular, digitization of at least 60,000 units of storage of geological reports, the development of IT infrastructure, the creation of English-language services of databases for managing geological information, the arrangement of a server room, as well as the development of the functionality of the State Geology Portal by creating sets of geological maps and cartographic services of the geological knowledge of the territory of Ukraine.
“The next step will be the signing of an agreement on the provision of technical assistance and the coordination of parameters for the volume and time of work,” the head said.
Verkhnedniprovsk casting and mechanical plant PJSC (Dnipropetrovsk oblast) increased its net profit by 2.9 times in 2021 in comparison with the previous year – up to UAH 5.823 mln.
According to the company announcement in the information disclosure system of the National Securities and Stock Market Commission on the remote annual meeting of shareholders on December 20, the undistributed profits of the company at the end of last year reached 105,4 thousand UAH.
The shareholders intend to summarize the company’s results in 2021, approve the report and approve significant deals of the company.
Verkhnedniprovskiy Casting and Mechanical Plant PJSC was founded in 1898 and is one of the largest Ukrainian producers of alloys and non-ferrous metals products. Current capacity of stamped and die-cast shops exceeds 100 tons of finished products per month. Availability of all necessary infrastructure and vertical integration of the enterprise allow the plant to implement large customized projects for manufacturing enterprises not only in Ukraine, but also in Europe, Asia and America.
According to the NDU, as of the fourth quarter of 2021, a physical person Andrey Cherniy owns 50% of shares in PrJSC, another physical person Anastasia Fedorova – 49.4187%.
The authorized capital of PrJSC is 2 279,5 thousand UAH, the nominal value of one share is 1,05 UAH.
Source: https://vlmz.com/
2022-2024 goods trade balance forecast (USD billion)
NBU
Oil prices continue to fall Thursday morning on weakening geopolitical tensions.
The cost of January futures for Brent on London’s ICE Futures Exchange stood at $91.97 a barrel by 7:22 a.m. Kk, down $0.89 (0.96%) from the previous session’s closing price. At the close of trading on Wednesday those contracts have fallen by $1 (1.1%) to $92.86 per barrel.
The price of WTI futures for December at electronic trades on the New York Mercantile Exchange (NYMEX) is $84.53 per barrel by that time, down $1.06 (1.24%) from the previous session. The day before, the contract fell $1.33 (1.5%) to $85.59 a barrel.
“Prices remain in negative territory as the market has largely ignored various geopolitical factors like Russian-related tensions and focused on more bearish factors such as signals of weakness in the Chinese economy,” Kpler senior oil analyst Matt Smith wrote.
Even the U.S. Department of Energy’s data, released the day before, failed to support the oil market, according to which the country’s commercial oil reserves fell by 5.4 million barrels last week, while analysts had expected a more moderate decline of 1.9 million barrels.
Gasoline inventories increased by 2.21 million barrels and distillates by 1.12 million barrels. Experts were expecting an increase in gasoline stocks by 200 thousand barrels and a decrease in distillate stocks by 1 million barrels.
The President of the European Council, Charles Michel, supported the decision of the participants of the Black Sea Grain Initiative to extend the deal.
“I applaud the expansion of the Black Sea Grain Initiative. With 10 million tonnes of grain already exported from Ukraine through this initiative, this is good news for a world in dire need of access to grain and fertilizer,” Michel tweeted on Thursday.
At the same time, he highly appreciated the constant efforts of the United Nations in this direction, as well as its Secretary General António Guterres personally.
Earlier, Minister of Infrastructure of Ukraine Oleksandr Kubrakov said that the initiative for the safe transportation of agricultural products by the Black Sea was extended for another 120 days, the UN and Turkey remained guarantors of implementation.
According to Guterres, the grain initiative is needed to reduce food and fertilizer prices, as well as to prevent a global food crisis. He also stressed that the UN “is committed to work to remove obstacles to the export of food and fertilizers from Russia.”
In Istanbul on July 22, with the participation of the UN, Russia, Turkey and Ukraine, two documents were signed on the creation of a corridor for the export of grain from three ports on Ukrainian territory – Chornomorsk, Odessa and Yuzhny.
The dollar rises moderately against the euro and the pound sterling, but weakly depreciates against the yen as market participants assess statements by members of the U.S. Federal Reserve (Fed).
The ICE-calculated index showing the U.S. dollar against six currencies (euro, Swiss franc, yen, Canadian dollar, pound sterling and the Swedish krona) is up 0.16%, while the broader WSJ Dollar Index is up 0.14%.
The Fed will raise the benchmark interest rate by at least another 1 percentage point or more, and only after that could it take a pause, Mary Daley, head of the Federal Reserve Bank (FRB) of San Francisco, said the night before. A rate range of 4.75-5.25 percent “is a reasonable level to consider,” she told CNBC.
Kansas City Fed Governor Esther George also said the Fed should not stop raising rates too soon, and added that the goal of achieving a “soft landing” could be difficult.
The Fed has raised the benchmark interest rate by 3.75 percentage points (pp) in less than a year, increasing it by 0.75 pp at once in the last four meetings. The rate is currently at 3.75-4% per annum, and the market expects it to rise by 50 bps in December.
By 8:52 Moscow time the euro/dollar pair is trading at $1.0378 versus $1.0396 at the close of Wednesday’s session and the euro is losing about 0.2%.
The dollar/yen exchange rate is down 0.1% at 139.39 yen, down from 139.54 yen at the end of last session.
The pound is getting cheaper by 0.2% and trades at $1.1895 against $1.1915 the day before.
On Thursday the market is waiting for the final data on October inflation in the euro area and data on the construction of new houses in the USA.
