KYIV. July 28 (Interfax-Ukraine) – The Federation of Metal Companies of Ukraine has pointed out the success of the policy conducted by Ukraine’s Economic Development and Trade Ministry to protect the interests of Ukrainian metal companies on foreign markets.
FMU Head Serhiy Bilenky wrote his Facebook page the success provided an opportunity to praise the ministry. .
“Deputy Minister Natalia Mykolska can take credit for her work to stimulate exports of Ukrainian metal products. Mining and metal enterprises and companies from other industrial sectors are thankful for her work to promote protection from antidumping investigations in India, Pakistan, the EAEU (the Eurasian Economic Union), on free trade zones with Turkey and Israel and the expansion of trade with Canada, as well as the regional convention on origin of goods,” Bilenky said.
He said he hoped the ministry will help with the antidumping investigation into hot-rolled flat iron started by the EU.
KYIV. July 28 (Interfax-Ukraine) – Commercial Industrial Bank (CIB, the СomInBank trademark, Kyiv) has attracted a foreign investor, the bank’s press service has reported.
“On July 26, an agreement to acquire 100% of shares in CIB by a foreign investor was signed. Information will be submitted to the National Bank of Ukraine (NBU) on July 27. The name of the investor will not be disclosed until the deal is finalized,” the bank said.
The press service said, referring to Board Chairman Hanna Venhlynska, that the foreign investor noted the transparency of procedures and observation of international doing business standards by the bank.
The share capital registration procedure will meet Ukrainian legislation and NBU’s requirements. The registration will be carried out after filing the relevant documents.
CIB said that its net profit in H1 2016 totaled UAH 1.212 million.
In May the bank increased charter capital by UAH 16 million, to UAH 128.6 million.
As reported, in March 2016, the NBU recognized one of the founders of KVV Group, a scrap metal production holding, Yevhen Kazmin, a majority shareholder in the bank.
Kazmin was arrested in late April under a ruling of Shevchenkivsky district court in Kyiv. He was accused of financing separatists by the Security Service of Ukraine (SBU), while KVV Group denies his guilt. The court remanded him to pretrial confinement until June 26, 2016.
Commercial Industrial Bank was registered in 1993.
KYIV. July 28 (Interfax-Ukraine) – Pharmacy sales in Ukraine in January-June 2016 in monetary terms increased by 17% compared to the same period in 2015, to UAH 26.899 billion.
Business Credit company told Interfax-Ukraine for the six months of 2016 pharmacy sales in packages rose by 5%, to 684.402 million packages.
According to the company, in particular, retail sales of medicines in January-June in monetary terms increased by 17%, to UAH 22.069 billion, in packages by 7%, to 424.199 million packages.
In addition, Business Credit said in June 2016 pharmacy sales grew by 27% compared to June 2015, to UAH 3.514 billion in monetary terms and by 20%, to 68 million packs in packages.
The average weighted price of a pharmacy goods basket in June 2016 was UAH 38.90, medicines UAH 51.70 per package, which is 4% more than in June 2015.
KYIV. July 28 (Interfax-Ukraine) – Ukraine’s Cabinet of Ministers has approved the project on modernization and overhaul of the section 3,364.5-3,391.2 km of the Urengoy-Pomary-Uzhgorod gas pipeline.
The corresponding decision is outlined in Cabinet resolution No. 523-r dated July 22, 2016, posted on the government’s portal.
The total cost of repairs of the section 26.7 km long was approved at UAH 1.214 billion, in particular, UAH 957.637 million will be used for construction work, UAH 14.33 million for equipment, while other expenses will amount to UAH 241.562 million.
The duration of overhauls is 18 months, in particular, the first launch phase – four months, the second phase – nine months and the third phase – five months.
Previously the Cabinet by its resolutions issued in 2013 through 2015 approved the projects of modernization and overhaul of the Urengoy-Pomary-Uzhgorod gas pipeline: the sections 3,616.8-3,626.62 km (the length is 9.82 km), 3,729-3,749.017 km (20.017 km), the section 3,974.77-4,008.45 km (33.68 km) and the section 4,101.3-4,128.4 km (27.1 km).
The total cost of reconstruction of the first section was approved in the amount of UAH 187.1 million, the second one at UAH 477.4 million, third – UAH 995.2 million and fourth – UAH 899.1 million.
In November 2015, Ukrtransgaz reported that construction of a new section of the Urengoy-Pomary-Uzhgorod gas pipeline of 9.82 km long was finished. The section will replace the previous one.
KYIV. July 26 (Interfax-Ukraine) – State-run enterprise Ukrspecexport saw a 76.19% rise in net profit under Ukrainian accounting standards in January-June 2016 year-over-year, to UAH 69.3 million, the company has said in a report.
Its net revenue grew by 93.1% in H1 2016, to UAH 1.377 billion. The company saw a 3.4-fold rise in gross profit, to UAH 923.88 million and a 4.4-fold rise in operating profit, to UAH 90.56 million.
In January-March 2016 Ukrspecexport saw a 36.51% decline in net profit year-over-year, to UAH 21.95 million and net revenue decreased by 30.29%, to UAH 310.68 million.
Ukrspecexport saw a 2.4-fold rise in net profit under Ukrainian accounting standards in 2015, to UAH 91.87 million. The company saw a 2.7-fold rise in net revenue, to UAH 1.8 billion.
Ukrspecexport is the state’s authorized mediator in foreign economic activities in the field of exports and imports of products and services that are subject to export controls.
Under a government decision, Ukrspecexport and its subsidiaries have been part of state-owned Ukroboronprom concern since December 2010.
KYIV. July 27 (Interfax-Ukraine) – INGO Ukraine insurance company (Kyiv) saw a 16.9% rise in collection of insurance premiums, to UAH 424.2 million, the insurer has said in a press release.
The company said that the share of voluntary car insurance (KASKO) was 31.9% of the total insurance portfolio (UAH 135.5 million), household insurance – 22.8% (UAH 97.1 million), voluntary medical insurance – 14.7% (UAH 62.6 million) and Green Card – 13.9% (UAH 59.4 million).
The company signed 123,000 insurance agreements over the period, including 68,000 agreements with individuals and 54,000 with companies.
The company paid UAH 163.6 million in claims (47.1% down). The level of payments was 38.5% (85.17% in H1 2015).
According to the press release, net profit in H1 2016 was UAH 16.7 million (58.1% down).
Insurance reserves as of June 30, 2016 amounted to UAH 646.1 million. Over 80% of them are covered by liquid assets in the form of cash on current and deposit accounts of the company. The company’s solvency is 4.5 times bigger than it is required. Its assets totaled UAH 1.408 billion.
Net worth reached UAH 581.8 million in H1 2016. Charter capital was UAH 305.5 million.
“Today we are introducing a new operation strategy, the implementation of which would help INGO Ukraine to be among leaders of the insurance market in next five or ten years,” Board Chairman Ihor Hordiyenko said.
INGO Ukraine has been operating since 1994. It has 28 licenses for different types of compulsory and voluntary insurance. It has 25 branches.
