Business news from Ukraine

Business news from Ukraine

UKRAINIAN REGULATOR EVOKES LICENSES OF 22 NON-BANKING FINANCIAL INSTITUTIONS

The National Bank of Ukraine (NBU) Committee on Supervision and Regulation of the Non-Bank Financial Services Markets at its meetings held on December 24 and 30, 2020, revoked the licenses for the provision of financial services of 22 non-bank financial institutions.
As reported on the NBU website, the NBU decided to revoke all licenses for the provision of financial services of five financial institutions – Creditlife financial company LLC, Yuvid-2009 LLC, Aliot financial company LLC, Kailas Finance financial company LLC and Parkmar Inkaso LLC. The total assets of these companies as of October 1, 2020 amounted to UAH 138.6 million, or 0.07% of the total assets of the market.
In addition, the regulator revoked all licenses of the Ukrsotscredit credit union, in particular, one license for the provision of loans, including a financial loan. Liabilities of Ukrsotscredit credit union as of October 1, 2020 amounted to UAH 200 (0.00002% of the total market volume), and its assets amounted to UAH 917,800 (0.04% of the total market volume).
The committee also decided to revoke several of the existing licenses of Global Infinity Ukraine LLC, in particular, licenses for the provision of financial leasing services, as well as for the provision of guarantees. The company still has two licenses in effect – for the provision of loans, including a financial loan, as well as for the provision of factoring services.
In addition, the regulator revoked the license for the provision of guarantees of Dekart financial company LLC, Kaverton financial company LLC, Professional Payment System LLC, Fidem financial company LLC, Finar financial company LLC, Asap Finance LLC, Bladvein financial company LLC, Verra Finance LLC, Invest House financial company LLC, Mega Finance financial company LLC, Sky financial company LLC, Smart Finance Solution financial company LLC, Finance Company LLC and Finrezerv financial company LLC. These financial companies continue their activities and have valid licenses, in particular for the provision of loans, including a financial loan, for the provision of factoring services, as well as for the provision of financial leasing services.
The NBU said that these companies had their licenses for the provision of guarantees revoked due to the fact that they did not plan to be actively involved in the provision of guarantees and were not ready to comply with the mandatory standards that came into force on May 1, 2020.
In December, the National Bank reminded all market players who had valid licenses to provide guarantees of the need to comply with mandatory standards.
According to the results of the submitted financial statements for the first nine months of 2020, two-thirds of the financial companies-guarantors out of 354 licensed did not comply with the requirements of these standards and had at least one standard failed to meet.

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EARTHQUAKE WITH MAGNITUDE OF 2.9 OCCURRED IN WESTERN UKRAINE

An earthquake with a magnitude of 2.9 occurred in Lviv region on Sunday, January 10, the press service of the Main Center for Special Control of the State Space Agency of Ukraine reported.
So, on January 10, the Main Center for Special Control registered an earthquake with a magnitude (on the Richter scale) of 2.9 at 13:13.
It is noted that the source of the earthquake was located in Sambir district at a depth of 5 km. The vibrations did not pose a threat to the population; they could be felt by individuals inside the premises, especially on the upper floors.

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Pharmaceutical company Interchem developing new anesthetic drug

The pharmaceutical company Interchem (Odesa), the double liability company, is developing a new anesthetic drug, preparing an international dossier for it, Director General of Interchem Anatoliy Reder has said.

“The drug will be an anesthetic. It is original, completely new, it is a new molecule. We have been deeply studying it for three or four years,” he said in an exclusive interview with Interfax-Ukraine.

Reder said that the company will develop a dossier for this drug in accordance with international standards.

“For us in this project, it is important that we first thought about how to form an international dossier of the new drug. For one reason or another, we always had a dossier, either Soviet or Ukrainian. Today we understand that an international dossier is needed, and we want to try making it for this drug,” he said.

Reder said that the company has begun collaborating with an international research organization that will conduct preclinical trials of the new drug.

According to Reder’s forecasts, the development of the new drug could take one and a half or two years.

“We hope that within one and a half or two years the pills will appear in Ukraine,” he said.

Interchem is one of the leading pharmaceutical companies in the country.

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 11/01/21

National bank of Ukraine’s official rates as of 11/01/21

Source: National Bank of Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JANUARY 11

Official rates of banking metals from national bank as of January 11

One troy ounce=31.10 grams

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AVERAGE MONTHLY WAGE BY REGION IN OCT 2020, UAH

Average monthly wage by region in Oct 2020, UAH.

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