Business news from Ukraine

Business news from Ukraine

UKRAINE CUTS IMPORTS OF MANGANESE ORES

Ukraine in January-July this year reduced imports of manganese ore and concentrate in quantity terms by 38% compared to the same period last year, to 207,225 tonnes.
According to statistics released by the State Customs Service, in monetary terms, imports of manganese ore and concentrate decreased by 43.7% over the period, to $25.139 million.
At the same time, manganese ore and concentrate were imported from Ghana (99.85% of supplies in monetary terms), Belgium (0.11%) and the Netherlands (0.02%).
In January-July 2021, Ukraine exported 434 tonnes of manganese ore and concentrate to Poland (90.2%) and Russia (9.8%) for $51,000, while in the same period last year it exported 23,846 tonnes of manganese ore and concentrate for $3.447 million.

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UKRAINE INCREASES EXPORT OF SCRAP BY 20 TIMES

In January-July of this year, enterprises engaged in operations with ferrous scrap increased the procurement of scrap metal by 43.1% compared to the same period last year, to 2.35 million tonnes.
As reported in the operational information of the Ukrainian Association of Secondary Metals (UAVtormet), the export of scrap metal for the specified reporting period amounted to 334,600 tonnes, which is 19.5 times more compared to the same period in 2020 (17,200 tonnes).
At the same time, the import of scrap in January-July amounted to 14,800 tonnes, which is 39.1% higher than in January-July-2020 (10,600 tonnes).
In January-July 2021, the supply of scrap to the country’s metallurgical enterprises increased by 23.1% compared to the same period last year, to 1.904 million tonnes. The level of stocks of scrap metal at metallurgical enterprises as of August 1, 2021 was estimated at 100,000-110,000 tonnes.

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GRAIN CORPORATION TO EXPORT 1 MLN TONNES OF GRAIN TO CHINA

Representatives of the State Food and Grain Corporation of Ukraine, the China National Complete Engineering Corporation (CCEC) and the Ministry of Economy of Ukraine during a meeting on August 9 reached an agreement on the export of one million tonnes of grain to China by the end of this year, the state corporation wrote on Facebook.
“We plan to carry out purchases at our own elevators and use our own logistics and port facilities in order to make our partners the most profitable price offer,” the company quotes the acting chairman of the board of the State Food and Grain Corporation of Ukraine, Andriy Vlasenko.
The corporation also cites data from CCEC President Yang Jing, who noted that the Chinese side is interested in developing cooperation, strives to fulfill the conditions of the existing contract for the 2021/2022 marketing year (MG, July-June) and is waiting for proposals from the Ukrainian side.
In turn, the Ministry of Economy proposed to hold weekly negotiations on the supply of grain between the Grain Corporation and CCEC.
As reported, in June 2021, the Grain Corporation discussed with CCEC representatives a possible delivery in the 2021/2022 MY of 2 million tonnes of early grain and 3 million tonnes of corn. The corporation clarified that it has completed a complex of preparatory work at the port facilities in Odesa and Mykolaiv, and also, at the request of the Chinese side, reached agreements with partners on the possibility of transshipment of an additional one million tonnes of grain at Chornomorsk seaport (Odesa region).

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FOZZY GROUP INTENDS TO ACQUIRE INSURER

Vostok Capital LLC (Kyiv), the main shareholder of which is Fozzy Group, has announced its intention to acquire 4.762 million shares (with a par value of UAH 47.620 million) of Arsenal Insurance Company (Odesa), which is 80.741% of the charter capital of the insurer.
According to the information disclosure system of the National Securities and Stock Market Commission, at the time of submission and publication of this report, Vostok Capital and its affiliates do not own shares of Arsenal insurer.
according to the data of the unified state register of legal entities, individual entrepreneurs, the founders of Vostok Capital are PrJSC Fozzy Group, whose contribution is UAH 214.014 million, and Vermont closed non-diversified venture capital investment fund with UAH 214.014 million.
The charter capital of Vostok Capital is UAH 428.028 million.
Arsenal insurer was registered in 2005.
Fozzy Group is one of the largest Ukrainian retailers with nearly 690 points of sale throughout the country. As of 2019, the total area of its stores exceeded 1 million square meters. The company develops retail chains of various formats: Silpo supermarkets, Fozzy Cash & Carry wholesale hypermarkets, Fora convenience stores, Thrash! discounters, Bila Romashka pharmaceutical supermarkets, Ringoo personal electronics stores.

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NATIONAL BANK DECLARES BANK ZEMELNY KAPITAL INSOLVENT

The National Bank of Ukraine (NBU) has declared insolvent Bank Zemelny Kapital (Land Capital, Dnipro) of former Minister of the Coal Industry Viktor Topolov (94.4% of shares), which as of June 1, 2021 ranked 63rd in terms of total assets (UAH 909.983 million) among 73 banks operating in the country, the press service of the central bank said.
The corresponding decision was approved by NBU decree No. 400-RSh/BT dated August 11, 2021.
“The board of the NBU decided to declare Bank Zemelny Kapital insolvent due to failure to fulfill its obligations to depositors and other creditors because of insufficient funds in the period established by the agreement or determined by the legislation of Ukraine,” the report says.
The NBU noted that the share of the financial institution amounted to 0.04% of the net assets of solvent banks, therefore the classification of the bank as insolvent will not affect the stability of the banking sector of Ukraine, which is stable today.
It is indicated that since the bank on July 1 was classified as a problematic due to the violation of liquidity standards, the financial condition and indicators of the bank deteriorated, the volume of highly liquid assets decreased to a critical level, which led to the emergence of outstanding customer payments.
It is noted that the only owner of the bank, Viktor Topolov, did not provide financial support to the institution, despite Article 58 of the law “on banks and banking activities, which states that the owners of substantial participation in the bank must take timely measures to prevent the occurrence of bank insolvency.
According to the report, 70% of the bank’s depositors will receive deposits in full, since their size does not exceed the amount guaranteed by the Deposit Guarantee Fund of UAH 200,000, while clients with larger amounts of deposits will receive them within the amount guaranteed by the fund.
The National Bank added that in general, the possible amount of payments of the guaranteed sum to depositors as of July 1, 2021 is UAH 435.8 million, or 92% of the total amount of individuals’ deposits.

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VYHOVSKY HEADS KYIV POLICE

Minister of Internal Affairs of Ukraine Denys Monastyrsky introduced new Chief of the Main Division of the National Police in Kyiv, Police Colonel Ivan Vyhovsky, who previously headed the police in Poltava region, the press service of the Ministry of Internal Affairs reports.
As stated in a message posted on the ministry’s website on Wednesday, the minister said that he expects from the new chief of Kyiv Police “increased attention to ensuring public safety, especially on the eve of the 30th anniversary of Ukraine’s independence.”
“This is the first challenge that awaits you and all of us. And now you personally, Ivan Mykhailovych [newly appointed Kyiv Police chief Ivan Vyhovsky], will be responsible for organizing this holiday,” the press service of the Ministry of Internal Affairs quotes Monastyrsky as saying.
According to the minister, the new leadership of the head office should have a priority on “issues of combating crimes, which citizens most of all complain about.”
“These are issues of robberies, thefts of vehicles. We in parliament, together with the leadership of the National Police, managed to pass a number of legislative acts to counter theft of vehicles. Now we would like these laws to be clearly implemented in practice. Every appeal of Kyiv residents would not be left without a reaction from the capital police,” Monastyrsky said.
The minister called on the metropolitan police to pay special attention to minor, domestic crimes. He also noted the inadmissibility of any manifestations of corruption.
“I draw your attention to the fact that the issue of combating corruption will be the main issue and priority of my work. There will be no connivance for people who will engage in corruption schemes, either from me, or from the head of the National Police, or from the head of Kyiv police,” the head of the Ministry of Internal Affairs said.
Monastyrsky thanked the former head of the capital’s police chief Andriy Kryschenko for his work and expressed the hope that “the best traditions and principles” of this work will be transferred to the new leadership.
In turn, Head of the National Police Ihor Klymenko said: “I want to direct the entire metropolitan garrison to serious painstaking work, as we did before. The head of the National Police Department should, as always, be at the site of mass events in order to personally assess all the risks and dangers who can expect us.”
Klymenko also said the issue of illegal construction, raiding and property crimes should be a priority.
“I would like to draw your attention to the railway station, the central streets of Kyiv, the metro, thousands of tourists should be safe. Focus your efforts on this, first of all, on these holidays, which we will celebrate from August 16 to 25,” he said.
In turn, Vyhovsky expressed gratitude for the opportunity to manage such a large unit as Kyiv police and said: “Together with the personnel, we will coordinate our actions in order to continue to create a safe environment for Kyiv residents and guests of the city. The tasks set by the government leadership will be fulfilled as much as possible.”
Krsyschenko thanked the management and colleagues for their work over the course of five years and wished success to the new head of the metropolitan police.

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