Business news from Ukraine

Business news from Ukraine

BANK AVANGARD ISSUES DEPOSIT CERTIFICATES

The National Depository of Ukraine (NDU) on December 29 registered the first issue of deposit certificates in Ukraine, the issuer of which was Bank Avangard (Kyiv), the institution’s press service reported.
“A new instrument – a deposit certificate appeared thanks to the innovations of law No. 738 (came into force on July 1). This is the first case when an issue is registered by the central depository, and we hope for great attention to this instrument from the capital market participants,” the NDU said.
The National Depository noted that the technology for issuing a deposit certificate is completely based on paperless communication.
“This is another significant step in the direction of securitization, thanks to which new financial instruments appear,” Maryna Adamovska, a member of the NDU board, said.
As reported, the head of the debt securities issue department of ICU Investment Group, which includes Bank Avangard, Ruslan Kilmukhametov, in mid-December announced the debut issue of deposit certificates for the market.
“The bank’s deposit certificate is a revolutionary product for Ukraine, as it shortens the issuer’s path to the capital market from 2-3 months when issuing bonds to 2-3 working days required for the placement of bank certificates,” he said.
The expert explained that in case of a non-public offering, that is, with a well-known circle of persons, the registration of the issue is carried out by the NDU, and not by the regulator, the National Securities and Stock Market Commission.
“Thus, the bank can very quickly enter the deposit certificate market. If it needs money, it can “raise its hand,” gain demand, register an issue and sell these certificates,” the head of the ICU department noted.

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ARCELORMITTAL KRYVYI RIH INCREASES PRODUCTION OF IRON

PJSC ArcelorMittal Kryvyi Rih (Dnipropetrovsk region) in January-November this year increased production of rolled iron ore by 3.3% compared to the same period last year – up to 10 million tonnes.
An enterprise representative told Interfax-Ukraine about 900,000 tonnes of concentrate were produced in November.
Earlier, the general director of ArcelorMittal Kryvyi Rih, Mauro Longobardo, reported that ArcelorMittal Kryvyi Rih in 2020 increased production of iron ore concentrate by 8.3%, to 10.7 million tonnes, ore extraction increased by 4.5%, to 25.6 million tonnes.
ArcelorMittal Kryvyi Rih is the largest manufacturer of rolled steel in Ukraine. It specializes in production of long products, in particular, rebar and wire rod.
ArcelorMittal owns the largest mining and metallurgical plant in Ukraine ArcelorMittal Kryvyi Rih and a number of small companies, in particular, PJSC ArcelorMittal Beryslav.

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ZELENSKY INCREASES MINIMUM WAGE FOR MILITARY PERSONNEL

President of Ukraine Volodymyr Zelensky has signed a decree to raise the minimum salary for military personnel and set the task for the Cabinet of Ministers to improve the system of monetary allowances for the military.y.
Decree No. 688/2021 “On additional measures to ensure social guarantees for the military personnel of the Armed Forces of Ukraine” was posted on the website of the President’s Office on Thursday evening.
According to the document, the Cabinet of Ministers must ensure, from 2023, the minimum amount of monetary allowances for the Armed Forces of Ukraine (except for military personnel) at the level of at least two times the minimum wage established by law as of January 1 of the calendar year.
Also, by June 30, 2022, the government must submit to the Verkhovna Rada a bill aimed at improving the system of monetary allowances for military personnel, taking into account the best experience of leading foreign states.

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UKRAINE’S BUDGET GETS UAH 71 BLN

After the imposition of sanctions against smugglers, the budget of Ukraine received UAH 71 billion, Secretary of the National Security and Defense Council (NSDC) of Ukraine Oleksiy Danilov has said.
“The sanctions [for smugglers] are working. Today we can say with confidence that the amount of money that the budget additionally received after the imposition of sanctions is UAH 71 billion. We, no doubt, wanted it to be more, but we draw your attention to the fact that this is just the beginning. We are not going to dwell on this issue,” Danilov said at a briefing following the NSDC meeting on Thursday.

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UKRAINE APPLIES SANCTIONS AGAINST THOSE INVOLVED IN THE BUILDING OF A BRIDGE ACROSS THE KERCH STRAIT

The Ukrainian National Security and Defense Council (NSDC) has imposed at a session on Thursday sanctions against individuals and legal entities involved in the construction and operations of the bridge over the Kerch Strait, NSDC Secretary Oleksiy Danilov said at a briefing following the session.
The NSDC press service said later that those sanctions were imposed on six individuals and 24 legal entities.
Sanctions were also imposed on 18 people involved in the issuance of unlawful court rulings to deprive the Crimea diocese of the Orthodox Church of Ukraine of its property in the temporary occupied territories of the Autonomous Republic of Crimea and the city of Sevastopol, it said.
According to the NSDC, 52 people holding senior positions in Crimea were also sanctioned for doing considerable damage to the national interests and security of the Ukrainian people, the NSDC said.

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MINERS’ WAGES RECIEVE UAH 500 MLN – ENERGY MINISTRY

The state-owned enterprise Ukrvuhillia on December 30 transferred UAH 500 million to state coal mining enterprises to pay wages to miners.
“Energoatom provided Ukrvuhillia with the corresponding funds as an interest-free financial assistance for the uninterrupted supply of coal to thermal generation facilities,” the press service of the Ukrainian Ministry of Energy said.

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