Business news from Ukraine

Business news from Ukraine

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF AUGUST 29

Official rates of banking metals from national bank as of August 29

One troy ounce=31.10 grams

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NEWLY ELECTED UKRAINIAN PARLIAMENT WILL FORM GOVT, REPLACE SBU HEAD, GIVE CONSENT TO PRESIDENT TO REPLACE PROSECUTOR GENERAL

The group for the preparation of the first meeting of the newly elected Verkhovna Rada has voted on the agenda of the first session of the parliament for the period of consideration of organizational issues of the first session of the Verkhovna Rada of Ukraine of the ninth convocation. The first working meeting of the parliament will begin with the formation of a temporary presidium of the first session of the Rada. Then, Prime Minister of Ukraine Volodymyr Groysman will announce the resignation of powers by the Cabinet of Ministers in front of the new Verkhovna Rada.
After that, parliamentary factions and groups will be formed. Then the issue of a coalition of deputy factions (a deputy faction that has coalition rights) will be resolved.
The accounting commission of the parliament, its chairman, first deputy and deputy chairman of the Verkhovna Rada will be elected.
Next, an extraordinary message from President of Ukraine Volodymyr Zelensky on the internal and external situation in Ukraine will be heard.
MPs also intend to dismiss the head of the Security Service of Ukraine and appoint a new head of the agency, to resolve the issue of giving consent to the dismissal from office by the president of the prosecutor general of Ukraine and the appointment of a new prosecutor general.

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KOLOMOISKY PROPOSES TO INCREASE IRON ORE PRODUCTION ROYALTY FROM 8.8% TO 75%

Ukrainian businessman Ihor Kolomoisky has proposed to increase the iron ore production royalty from 8.8% to 75%. “… If you export raw materials [from the country], then give back at least 75% from $80 per tonne – this is $60, and keep $20,” Kolomoisky said in an interview with the Censor.net ezine.
According to the businessman, these current royalty rates stimulate the export of raw materials.
“However, there is a second option – don’t sell ore right away!.. Produce steel – you have capacities, and instead of loading enterprises you reduce capacities, because now it is easier for you to sell ore, and not engage in production,” Kolomoisky said.
In addition, he stated the need for nationalization of the largest enterprises and the development of mineral resources.
“For the salvation of Ukraine, the universal nationalization of large state-forming enterprises plus the nationalization of the deposit development, that is, in several sectors, we need state capitalism,” the businessman said.

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BUSINESSMAN KOLOMOISKY SUGGESTS AN OFFSET OF UKRAINE’S AND RUSSIA’S DEBTS

Lawyers are working on a possibility of waiving Ukraine’s debts to the Russian Federation or Russian companies as part of the execution of decisions of international courts in lawsuits won by Ukraine and Ukrainian companies from Russia regarding the loss caused to Ukraine in Crimea, one of the initiators of the litigations and former owner of PrivatBank Ihor Kolomoisky has said.
“Lawyers are working now to ensure that Ukraine’s debt, for which Ukraine is suing… there are billions of dollars in obligations to the Russian Federation, or, for example, $110 million for Tatneft, perhaps after a victory in the courts it will be possible to legally waive them. It is not an easy task, but it is being implemented,” he said in an interview with the Censor.net ezine.
According to him, an alternative to such debt repayment is the work of seizing Russian assets abroad.
Kolomoisky recalled that he was the first to sue the Russian Federation because of the damage suffered as a result of the annexation of Crimea, but now such disputes in international courts are initiated by Rinat Akhmetov’s companies, state-owned PrivatBank and Oschadbank.

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IN KYIV PRESS CONFERENCE “KHERSON OIL TRANSSHIPMENT COMPLEX: ARMA SHOULD HOLD TRANSPARENT AND LEGAL TENDER” TO TAKE PLACE

On Thursday, August 29, at 13.00, the press center of the Interfax-Ukraine news agency will host a press conference entitled “Kherson Oil Transshipment Complex: ARMA Should Hold Transparent and Legal Tender.” Participants: Yaroslav Kovalevsky, the acting director of state enterprise Petroleum Supply Enterprise, Andriy Hevko, the adviser to Fincord Intelligence law firm LLC (8/5a Reitarska Street). Registration of journalists requires press accreditation.

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STATE-RUN UKRAVTODOR PLANS TO BUY 200,000 TONNES OF SALT AHEAD OF WINTER 2019

The State Automobile Roads Agency of Ukraine (Ukravtodor) plans in 2019 to purchase nearly 200,000 tonnes of salt in 2019 for preparing the roads for winter, Ukravtodor acting head of Slawomir Nowak said in an interview with Interfax-Ukraine.
“We are preparing [for winter], held first conferences over this issue. Purchase of salt volumes is under control, 41,000 tonnes have already been stored up. In general, we plan to purchase about 200,000 tonnes of salt this year. It would be enough to sustain winter facing no problems,” he said.
Novak noted that this week a meeting between Ukravtodor and the state-owned enterprise Artyomsol (Donetsk region) is to take place, during which it is planned to “settle a number of problematic issues.”
In addition, the head of the agency said that Ukravtodor has already prepared more than 2,700 of machinery items and devices for winter.
“For temporary parking of vehicles during bad weather we plan to use more than 800 sites right of way, near and at road service facilities. In addition, more than 7,000 linear meters of passive means of cleaning snow will be installed on public roads of national importance,” he said.
According to Nowak, by November 1, 2019 Ukravtodor plans to complete the full range of measures to prepare the road facilities for the autumn-winter period 2019-2020.
Artyomsol is the largest enterprise for production and sale of table salt (NaCl) in Central and Eastern Europe. Its production facilities are located in Soledar (Donetsk region).

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