Metinvest B.V. (the Netherlands), the parent company of the Metinvest mining and metallurgical group, in January-June 2020 reduced capital investments by 35% compared to the same period in 2019, to $ 313 million.
According to preliminary unaudited interim financial results for the first half of 2020, the capex reduction was planned during this period.
“In line with the group’s 2020 capex priorities for critical asset maintenance and the completion of ongoing strategic investment projects, investments in maintenance and repairs decreased by 33%, while investments in strategic projects were reduced by 38%, which brought their share in capital investments to 65% and 35%, respectively (63% and 37% in the first half of 2019),” the report states.
At the same time, it is clarified that the metallurgical segment accounted for 47% of capital investments (50% in the first half of 2019), and the mining segment for 49% (46% in the same comparison).
The Interdepartmental Commission on International Trade has launched an antidumping investigation into the import of cement from Turkey to Ukraine.
The commission’s decision of September 2, 2020 to initiate an investigation comes into force from the moment of its publication, according to data on the Uriadovy Kurier edition’s website on September 5, 2020.
According to the report, the commission received a corresponding complaint from PrJSC Dyckerhoff Cement Ukraine, PrJSC Kryvy Rih Cement, PrJSC Mykolaivcement, PJSC Podilsky Cement, Cement LLC with the support of PrJSC Ivano-Frankivskcement.
According to the applicant, during the observation period (2017-2019), the dumping import of cement in absolute terms increased by 809%, in terms of consumption by 837%. In addition, the trend continues in 2020. According to the forecast, by the end of 2020 imports will increase by 1,815% and 2,547%, respectively. At the same time, prices for imported cement were lower than the prices of the applicant, and the growing volumes of imports forced him to reduce prices, despite the increase in cost.
Having considered the complaint, the authority concluded that import of cement from Turkey to Ukraine was carried out in volumes and on conditions that could cause damage to the national producer.
The Ministry of Economy has been instructed to conduct the antidumping investigation. Registration of interested parties is carried out within 30 days.
Sugar production in Ukraine as of September 8, 2020 amounted to 1,050 tonnes.
According to the report of the Ukrtsukor National Association of Sugar Producers, as of this date one sugar refinery in the country – Radekhiv Sugar LLC – is operating, which has processed 17,400 tonnes of sugar beet by now.
As reported with reference to Ukrtsukor, sugar production in the country in 2020 is projected at the level of 1.2-1.3 million tonnes, which is 15% less than a year earlier.
It is expected that 33 sugar refineries will operate this season – the same number as last year.
The Cabinet of Ministers of Ukraine under the Stand-By Arrangement with the International Monetary Fund (IMF) has updated the principles of strategic reforming of state-owned banks.
“The main priorities of the regulations are to implement strategies for each bank in the public sector, protect and support the implementation of corporate governance reform with a majority of independent members in the supervisory board, reduce the share of non-performing assets on the balance sheet, reduce the position of the state, state-owned enterprises in public sector banks, and other things,” Deputy Finance Minister Denys Uliutin said at a meeting of the Cabinet of Ministers on Wednesday.
He said that the Ministry of Finance has developed an updated version of the basis for strategic reform of state-owned banks following consultations with international experts, the National Bank of Ukraine (NBU) and public sector banks.
According to NBU Governor Kyrylo Shevchenko, who was also present at the meeting of the Cabinet, the regulator supports the update of the principles of strategic reforming of state-owned banks.
“We would like to support this draft document, because, in accordance with Article 17 of the Memorandum with the IMF, Ukraine has also undertaken to update the strategic provisions. We have really worked out this document, and I want to support my colleagues from the Ministry of Finance so that it can be approved as soon as possible,” he said.
According to a report on the website of the Ministry of Finance on Wednesday, the updated principles of strategic reforming of state-owned banks provide, in particular, a decrease in the state’s share in the banking sector from 60% to 25% by 2025.
KYIV. Sept 2 (Interfax-Ukraine) – The Verkhovna Rada has ratified an agreement on the joint production of audiovisual works between the governments of Ukraine and Canada.
Some 318 deputies voted for corresponding bill No. 0040 at the plenary session on Wednesday.
The agreement was signed in Toronto on July 2, 2019.
An explanatory note to the draft law says that the ratification of the agreement will contribute to the intensification of the international activities of the subjects of cinematography of Ukraine in joint film production with other countries.
AGREEMENT, CANADA, CO-PRODUCTION AUDIOVISUAL WORKS, PARLIAMENT, RATIFIES
The World Bank has provided recommendations to the National Strategy for the Development of Broadband Access to the Internet in Ukraine for 2020-2025.
According to a posting on the website of the Ministry of Digital Transformation of Ukraine, the World Bank’s vision is that high-speed broadband access should be countrywide, reliable and financially affordable to every citizen of Ukraine.
The consultants recommend providing in Ukraine until 2025: 4G coverage for 95% of the population; full 5G coverage along major road and rail routes; connection to broadband access at a speed of 1 Gbps for all social infrastructure facilities providing services to the population; and availability of high-speed broadband access (at least 100 Mbit per second) for all households.
According to the calculations of the World Bank, $350-450 million is needed to cover all settlements with high-speed networks, which includes both funds from private companies and government aid, which should be about half of the mentioned amount.
When developing the National Strategy for the Development of Broadband Access, the specialists of the Ministry of Digital Development regularly consulted with the World Bank. After all, this authoritative organization, which is a project of the European Union, already has experience of such work, for example, in Georgia.
The World Bank recommended that smart technology can reduce road deaths by 8-10%, reduce travel time by 15-20%, and speed up the response time of ambulances by 25-30%.
In addition, according to the World Bank recommendations, raising Internet penetration in all developing countries allowed more efficiently settle 75% of the economic losses that occurred due to COVID-19.
The World Bank also said that in implementing the 5G communications standard, the government’s role in defining requirements and maintaining network security at the national level will be paramount. It is recommended that a 5G certification framework be defined and established, which should include the minimum security requirements implemented in operators’ networks, as well as measures to implement certification procedures for the various defined network elements. It is also recommended that the National Cybersecurity Center be involved in developing the certification.
Implementing and using certified equipment and procedures for 5G is important from a cybersecurity perspective and therefore should be continuously encouraged, the World Bank said.
The World Bank recommended covering 90% of territories with 4G networks by 2023, and increasing coverage to 99% by 2025. Also, by 2023, it is recommended to ensure uninterrupted coverage of 50% of main roads and railways with 5G communication, and by 2025, increase the coverage to 90%.
The penetration of broadband Internet coverage for households at a speed of at least 100 Mb per second by 2023 should be at least 80%, and by 2025 it should reach 100%.
The implementation of this strategy, taking into account the recommendations of the World Bank, will be a positive step in the partnership between Ukraine and the EU, the bank said.
The ministry said that the calculations of the World Bank coincide with the ministry’s own calculations, carried out in the preparation of the National Strategy for the Development of Broadband Access in Ukraine for 2020-2025.
