PrivatBank by the end of this year plans to launch a new online service in Ukraine to sell government domestic loan bonds to individuals via its Privat24 platform.
“Together with the NBU, PrivatBank is developing online integration with the securities depository for the simplicity and convenience of making deals in remote channels,” the financial institution said.
According to the bank, together with the National Commission for Securities and the Stock Market, work is underway to amend a number of regulatory acts to simplify the purchase of government domestic loan bonds by individuals. In particular, this is regulation No. 735 regarding simplification of the procedure for opening an account in securities and regulation No. 1708 regarding the division of responsibilities between the bank’s branches when settling transactions with securities.
PrivatBank said that since the beginning of the year, as part of the experiment on the sale of government domestic loan bonds through VIP branches, it sold to its private customers government domestic loan bonds worth about UAH 0.5 billion, providing more than 15% of the total portfolio growth.
Since the beginning of the year, according to the NBU, the portfolio of government domestic loan bonds of individuals has grown 3.1 times, or UAH 3.05 billion, to UAH 4.52 billion. In particular, the portfolio of the hryvnia-pegged bonds increased 5.9-fold, to UAH 1.08 billion, U.S. dollar-pegged bonds – 2.7-fold, to UAH 3.23 billion and euro-pegged bonds – 2.5-fold, to the equivalent of UAH 0.21 billion.
Canada’s Black Iron with assets in Ukraine has received a formal proposal from Ukraine’s government to lease to the company a plot of land connected to the Shymanivske iron ore project, the company has said in a press release. “The company has received a formal proposal from Ukraine’s government to lease to the company a plot of land connected to the company’s Shymanivske iron ore body for the location of the project’s processing plant, tailings and waste rock,” the company said.
The company said that this marks a significant milestone in the project’s development and further demonstrates Ukraine governmental support for the mine to be constructed.
The parcel of land being proposed is owned by Ukraine’s central government and is currently being used by the Ministry of Defense (MOD) for training purposes.
“Black Iron management is currently analyzing the suitability of this land from a social and technical standpoint. To secure rights to this land, Black Iron needs to agree on a compensation package with the MOD and Ukraine’s central government that is sensible for all parties. Discussions of this nature have already started with senior government officials including Deputy Prime Minister Kubiv with support from Canada’s Embassy to Ukraine,” the company said.
As reported, the Shymanivske project contains a NI 43-101 compliant resource estimated to be 646 Mt Measured and Indicated mineral resources, consisting of 355 Mt Measured mineral resources grading 31.6% total iron and 18.8% magnetic iron, and Indicated mineral resources of 290 Mt grading 31.1% total iron and 17.9% magnetic iron, using a cut-off grade of 10% magnetic iron. Additionally, the Shymanivske project contains 188 Mt of Inferred mineral resources grading 30.1% total iron and 18.4% magnetic iron.
CANADIAN BLACK IRON, IRON ORE, LAND PARCEL, PROCESSING PLANT
Ukraine exported 5,390 tonnes of cheese in January-August 2018, which is 4.1% less than in the same period in 2017. According to customs statistics released by the State Fiscal Service, in monetary terms exports amounted to $20.04 million, and this is 2.6% more than a year ago.
At the same time, cheese imports in January-August 2018 amounted to 7,810 tonnes, which is 30% more than in the same period in 2017. In terms of money, this indicator increased by 41.2%, to $38.31 million.
Exports of butter from Ukraine in January-August this year rose by 19.2%, to 21,410 tonnes. In monetary terms, this figure grew by 32.2% and amounted to $92.43 million. According to the State Fiscal Service, imports of this product increased 2.4 times, to 710 tonnes ($4.84 million).
Exports of milk and cream (condensed) in January-August decreased 19.8%, to 26,640 tonnes. Ukraine supplied condensed milk and cream for a total of $43.77 million against $57.07 million in January-August 2017. Imports of this group of goods increased by 1.7 times, to 1,430 tonnes ($3.51 million).
PrJSC Kyivspetstrans plans to build a waste treatment plant with a capacity of 450,000 tonnes of garbage a year worth EUR60 million, board chairman of the company Andriy Hruschynsky has said at a press conference. “Kyivspetstrans plans to construct a waste processing plant, which should replace the capacity of solid waste landfill No. 5 to finally close it, reclaim it and put it in order. We focus on a mechanical-biological technology: it’s more modern and environmentally friendly technology than garbage incineration,” he said.
According to the expert, the company plans to attract international companies with experience of similar projects as designers and contractors of construction. Companies from Germany and Poland have already expressed interest.
“We believe that such a project can be realized in two years – the time it takes to develop a project, to order and manufacture equipment,” he said.
He noted that several sites are being considered for the construction of the plant. To finance the project, it is planned to attract loan funds.
“Such projects need credits, and such large infrastructure facilities for the territorial community can be credited at institutions. We focus on the EBRD, as they give the best conditions,” Hruschynsky told Interfax-Ukraine.
Ukraine’s Verkhovna Rada has passed bill No. 5495 about preserving Ukrainian forests and preventing illegal imports of rough timber with remarks of the Ukrainian president. The bill introduces severe punishment for smuggling of round timber and restricting domestic consumption of rough timber to 25 million cubic meters a year. A total of 246 lawmakers backed the bill with the president’s remarks, removing the clause about firewood export ban.
Head of the parliamentary committee for industrial policy and entrepreneurship Viktor Halasiuk said that the parliament must return to the issue and find a possibility of retaining the ban on exports of firewood, under the disguise of which round timber is exported from Ukraine.
As was earlier reported, on July 3, 234 deputies passed the bill (No. 5495) on making amendments to some laws of Ukraine concerning the preservation of Ukrainian forests and preventing the illegal export of unprocessed timber at second reading.
According to amendments taken into account in the second reading of the document, administrative and criminal liability for illegal logging and its timber exports outside customs control (smuggling) has been significantly strengthened.
The Code of Ukraine on Administrative Offenses, in particular, introduces a clause according to which illegal cutting and transportation, storage of illegally cut trees entail the imposition on citizens of a fine of 15 to 30 nontaxable minimum incomes of citizens (one nontaxable minimum – UAH 17), and on officials – from 75 to 150 nontaxable minimum incomes of citizens.
In case of a repeated offense within a year, the amount of the fine is from 30 to 60 nontaxable minimums for citizens and from 300 to 600 for officials.
In addition, according to changes in Ukraine’s Criminal Code, movement across the customs border of Ukraine outside the customs control or concealment from the uncontrolled control of unprocessed timber or sawn valuable or rare species is punishable by imprisonment for three to five years.
The same actions that have been committed repeatedly or by prior conspiracy by a group of persons or an official using his official position are punishable by imprisonment for a term of five to ten years, with deprivation of the right to occupy certain positions and with confiscation of property.
If these actions are committed by an organized group of individuals or on a particularly large scale, a penalty of imprisonment of ten to 12 years is provided, with deprivation of the right to engage in certain activities for three years and with confiscation of property.
Late July Ukrainian President Petro Poroshenko vetoed the bill and returned it to the parliament with his proposals.
