Business news from Ukraine

Business news from Ukraine

AMC PERMITS CITIZEN OF BELARUS TO BUY SHARES IN UKRAINIAN SUBSIDIARY OF BTA BANK

The Antimonopoly Committee of Ukraine (AMCU) at a meeting on Monday allowed a nonresident individual to acquire over 50% of the shares of BTA Bank (Kyiv).
“Permission is granted to an individual – a citizen of the Republic of Belarus to purchase shares of JSC BTA Bank, which grants that 50% of the votes in the management body of the company are exceeded,” the committee said on its website on Monday.
BTA Bank was founded in 1992. According to the National Bank of Ukraine (NBU), at the beginning of 2020, Kenes Rakishev was a shareholder of the bank, who indirectly owned 100% of the bank’s charter capital.
According to the NBU, as of October 1, 2020, BTA Bank ranked 71st in terms of assets (UAH 385.612 million) among 74 operating banks.

, , ,

UKRZALIZNYTSIA INCREASES INCOME FROM DOMESTIC CARGO TRANSPORTATION

Income from domestic cargo transportation of JSC Ukrzaliznytsia in October 2020 increased by 3.2% against October 2019, up to UAH 2.2 billion.
According to the press service of the company on Monday, in September, income from domestic cargo transportation was 6% higher (compared to September 2019) and amounted to UAH 2.1 billion.
According to Ukrzaliznytsia, such indicators became possible due to organized route departures, improved operational efficiency, improved dispatching, and elimination of the locomotive shortage by extending the service legs.
It is reported that the largest increase in income in September-October was recorded in transportation of mineral construction materials, ferrous metals, iron ore and grain cargo. In addition, the positive dynamics of income was shown by transit freight rail transportation, amounting to 19.5% and 5.9%, respectively. In monetary terms, income from transit traffic amounted to UAH 635.6 million in September, and UAH 523 million in October.
Income from domestic cargo transportation of JSC Ukrzaliznytsia in October 2020 increased by 3.2% against October 2019, up to UAH 2.2 billion.
According to the press service of the company on Monday, in September, income from domestic cargo transportation was 6% higher (compared to September 2019) and amounted to UAH 2.1 billion.
According to Ukrzaliznytsia, such indicators became possible due to organized route departures, improved operational efficiency, improved dispatching, and elimination of the locomotive shortage by extending the service legs.
It is reported that the largest increase in income in September-October was recorded in transportation of mineral construction materials, ferrous metals, iron ore and grain cargo. In addition, the positive dynamics of income was shown by transit freight rail transportation, amounting to 19.5% and 5.9%, respectively. In monetary terms, income from transit traffic amounted to UAH 635.6 million in September, and UAH 523 million in October.
As reported, from November 1 to November 19, Ukrzaliznytsia loaded more than 15 million tonnes of cargo, which is 6.2% more than in the corresponding period last year.As reported, from November 1 to November 19, Ukrzaliznytsia loaded more than 15 million tonnes of cargo, which is 6.2% more than in the corresponding period last year.

, ,

FREE TRADE AREA BETWEEN UKRAINE AND ISRAEL TO TAKE EFFECT ON JAN 1

The free trade area (FTA) between Ukraine and Israel will take effect on January 1, 2021, Ukrainian President Volodymyr Zelensky has said.
“This is a new level of relations between the countries and the ‘green light’ to the growth of Ukraine’s exports, closer cooperation in the fields of high-tech, engineering, investment. Great news, Benjamin Netanyahu [Prime Minister of Israel],” he wrote on his Twitter on Tuesday.

,

METAL HOLDING TRADE SEES PROFIT FALL

Metal Holding Trade LLC, one of the largest metal trading companies in Ukraine, in 2019 reduced its net profit by 63.9%, to UAH 30.425 million compared to the previous year.
According to the company’s annual report in the information disclosure system of the National Securities and Stock Market Commission, in 2019 the company increased its net income by 1.8%, to UAH 3.676 billion.
Retained earnings by the end of the year amounted to UAH 443.456 million.
Metal Holding Trade LLC (Kyiv) is engaged in the wholesale trade of metals, and the production of metal structures.
The founders and participants of the holdings are three individuals: Serhiy Loichenko, who owns a 75% stake, Oleh Melnyk with 12.5% and Volodymyr Poberezhniuk with 12.5%.
The charter capital of the company is UAH 4.020 million.

, ,

STATE-OWNED ENTERPRISE ELECTROTYAZHMASH TO REPLACE TURBINE GENERATOR IN INDIA

The state-owned enterprise (SOE) Electrotyazhmash Plant in February 2021 plans to complete the installation of a new stator on the TGV-250-2PT3 turbine generator at the Kaiga NPP in India, according to the company’s website.
At present, the company’s engineers are supervising the dismantling of the old stator and preparing for the installation of a new one; the installation and commissioning of the equipment will also be supervised by the plant’s specialists.
According to the press service, the Kaiga NPP, a member of the Nuclear Power Corporation of India Limited (NPCIL), consists of four power units. Two of them are equipped with two TGV-250-2PT3 turbine generators manufactured by Electrotyazhmash delivered in 2005-2007.
Power of each machine is 250 MW, they have horizontal design, hydrogen-water cooling, and their weight is 280 tonnes.
Electrotyazhmash specializes in the production of powerful hydrogenerators, turbine generators for thermal power plants and nuclear power plants, electric motors for drives of rolling mills, mine hoists, traction electrical equipment for railroad and urban transport.

, , ,

UKRAINE INTRODUCES SPECIAL DUTY ON IMPORT OF PVC AND POLYETHYLENE

The Interdepartmental Commission on International Trade (ICMT) of Ukraine has introduced a special three-year duty on the import of some types of polyvinyl chloride (PVC) suspension and polyethylene, reducing its rate compared to the preliminary duty from 18% to 12.4% in the first year and again slightly narrowing its application in relation to PVC.
As stated in the announcement in the Uriadovy Kurier newspaper on November 21, the decision of the commission under an application of Karpatnaftokhim LLC (Kalush, Ivano-Frankivsk region) was made on November 20.
In the first decision made on May 22, the special duty was applied to polyethylene with a specific gravity of 0.94 or more, classified by codes 3901 20 10 00, 3901 20 90 00 of tariff heading, and polyvinyl chloride, classified by codes 3904 10 00 00, 3904 21 00 00, 3904 22 00 00.
This decision came into force on June 8, was suspended by the District Administrative Court of Kyiv on June 10 in the form of an interim measure under a claim of Subos-Techno LLC, and now the ICMT canceled it. The plaintiff said that initially the investigation was initiated under two commodity codes of the Ukrainian tariff headings, and the special duty was introduced under three codes, of which only one coincides with the original two. Subos-Techno also claimed that the PVC of the KSR-67 brands (for the production of rigid, semi-rigid and plasticized PVC, pipes, profiles, films, sheets) and KSF-70 (for the production of plasticized films, profiles, insulation, injection molded parts) are also different from those imported on the market.
As a result, on June 22, the commission narrowed the application of the provisional duty on PVC, indicating that it is a product with a Fickentcher constant in the range from 59 to 72, which can be classified under code 3904 10 00 00, except for emulsion and microsuspension polyvinyl chloride.
In the new decision, the duty is set for PVC with a Fickentcher constant from 64 to 69.

, , ,