Business news from Ukraine

Business news from Ukraine

EMPLOYEES OF KYIV CUSTOMS OFFICE DETAINS TRUCK WITH 98 PAINTINGS FROM FRANCE

Employees of the Kyiv customs office have found 98 paintings, which were hidden away from customs control among wooden frames in a truck that arrived from France. One of the paintings dates back to 1842, the press service of the Ukrainian State Fiscal Service said.
“The Frenchman, who acquired Ukrainian citizenship in 2017, is listed as the recipient of this cargo. However, this person has still not appeared at the Kyiv city customs office of the Ukrainian State Fiscal Service,” the press service said.
The final cultural and material value of the artworks will be established following an evaluation.
The paintings are in the customs control area of the Ukrainian State Fiscal Service’s Kyiv customs office.
The actions of the persons who organized this deal have signs of violations of the customs regulations that are punishable under Article 483 of the Ukrainian Customs Code, transportation with concealment from customs control. The article envisages the penalty of a fine in the amount of 100% of the cost of the goods and confiscation of them, the press service said.
After all customs procedures are concluded, the protocol on a violation of the customs regulations will be compiled, the Ukrainian State Fiscal Service said.

ELECTRICITY CONSUMPTION IN UKRAINE IN JAN-JUNE REMAINS AT LAST YEAR’S LEVEL

Electricity consumption in Ukraine in January-June 2019, taking into account in-process losses, increased by 0.03% (by 26.7 million kWh) compared to the same period last year, to 76.782 billion kWh, the Ministry of Energy and Coal Industry has told Interfax-Ukraine. Electricity consumption excluding in-process losses for the six months increased by 0.5% (by 279 million kWh), to 61.763 billion kWh.
The country’s industry, excluding in-process losses, reduced electricity consumption by 0.7%, to 25.768 billion kWh. Metallurgical industry consumed 14.731 billion kWh (0.6% down compared to January-June 2018), fuel industry some 1.729 billion kWh (2.9% less), machine-building some 1.963 billion kWh (6.8% less), chemical and petrochemical some 1.672 billion kWh (6.6% more), food and processing some 2.190 billion kWh (1.6% more), construction materials some 1.069 billion kWh (0.04% less), and others some 2.414 billion kWh (1.6% less).
In addition, agricultural enterprises consumed 1.786 billion kWh (3.3% down), transport 3.423 billion kWh (2.8% down), and construction industry 520 million kWh (3.4% more).
In January-June 2019, the country’s population consumed 18.614 billion kWh (1.6% more), household consumers some 7.843 billion kWh (0.1% less), others non-industrial consumers 3.809 billion kWh (9.4% more).
The share of industry in the total electricity consumption in the first six months of 2019 decreased from 42.2% to 41.7%, while the share of the population increased from 29.8% to 30.1%.

OFFICIAL RATES OF BANKING METALS FROM NATIONAL BANK AS OF JULY 22

Official rates of banking metals from national bank as of july 22

One troy ounce=31.10 grams

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NATIONAL BANK OF UKRAINE’S OFFICIAL RATES AS OF 22/07/19

National bank of ukraine’s official rates as of 22/07/19

Source: National Bank of Ukraine

AFTER 50% PROCESSING OF E-PROTOCOLS: SERVANT OF THE PEOPLE – 42.4%, OPPOSITION PLATFORM – FOR LIFE – 12.8%, EUROPEAN SOLIDARITY – 8.6%, BATKIVSCHYNA – 8%, HOLOS – 6.3%

According to the results of 50.01% of the protocols processed, the Servant of the People Party with 42.45% of the vote, the Opposition Platform – For Life – 12.88%, European Solidarity – 8,64%, Batkivschyna – 8.01%, and Holos – 6.38% enter the Verkhovna Rada.
According to the CEC website, the remaining parties do not yet overcome the 5% pass barrier to parliament.

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RAIFFEISEN ANALYSTS PREDICT NEW $6-8 BLN PROGRAM FROM IMF TO UKRAINE

Ukraine will be able to sign a new program with the International Monetary Fund (IMF) in the amount of $6-8 billion by the end of 2019 and make necessary payments on foreign debt in 2020 and 2021, Raiffeisen analysts predict. In the document, they noted a high probability of obtaining the majority by the pro-presidential party Servant of the People, which was leading in polls with an indicator of 41.5-52.30%, which will ensure the implementation of reforms promised by President of Ukraine Volodymyr Zelensky, due to which Ukraine will be able to receive IMF support.
According to the analysts, even if it fails to independently form the government, the Servant of the People party can form a coalition with Svyatoslav Vakarchuk’s Holos party, which is supported by 5-7% of the respondents.
“Given the commitment of President Zelensky to reforms, the new government will be able to sign a new three-year program with the fund in the amount of $6-8 billion by the end of 2019,” the report says.
Raiffeisen analysts point out that 40% of payments on Ukraine’s gross external debt are in 2020–2021 ($16.8 billion in 2020 and $18.5 billion in 2021), therefore the government needs a new cooperation program with the IMF as soon as possible. “Even given the full rollover of inter-company loans and the refinancing of 50% of corporate credits, Ukraine will have to pay $12.5 billion in 2020 and $15 billion in 2021,” the document says.

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