BlackRock Inc. one of the world’s largest investment firms, increased its net income in the second quarter of 2023 by 27%, but its revenue fell 1%.
According to the company’s press release, its net income for the April-June period totaled $1.37 billion, up from $1.08 billion in the same period a year earlier. Earnings per share rose to $9.06 from $7.06 a year earlier.
Earnings excluding one-time factors came in at $9.28 per share, topping Wall Street analysts’ consensus forecast of $8.52 per share.
BlackRock’s quarterly revenue decreased to $4.46 billion from $4.53 billion, with experts on average forecasting the figure to be $4.47 billion.
The volume of assets under management of BlackRock Inc. increased by 11% to $9.43 trillion.
Net inflow of investors’ funds into BlackRock funds in April-June amounted to $80.162 billion against $89.573 billion a year earlier, being significantly worse than the average market forecast ($109 billion).
BlackRock shares are losing 0.7% in price in pre-market trading on Friday. Since the beginning of this year their value has grown by 4.4%.
PJSC UkrHazVydobuvannya (UHV) in early July completed drilling of a new exploration well at a depth of 6600 meters, which became the deepest in the company’s history.
According to the company, the well flow rate is 150 thousand cubic meters of gas.
The task of the new well was to further explore hydrocarbon deposits and clarify the geological structure of the field, which was discovered only in 2019.
The performed industrial geophysical studies allowed to add more than 100 million cubic meters of recoverable hydrocarbon reserves.
“A team of specialists from different fields worked on the design and construction of this special well, which allowed us to perform the work qualitatively and in a short time. Our drillers once again proved their skill in drilling to deep productive horizons. As a result – additional production and new prospects for further development of the field,” – said the head of the company Oleg Tolmachev.
As reported, in the first half of 2023 “UGV” put into operation after drilling and overhauls 13 wells with high gas production rates (more than 100 thousand cubic meters per day).
“Ukrgasvydobuvannya” drilled 47 new wells in 2022 against 50 in 2021. In 2023, the company plans to increase drilling 1.5 times compared to last year – up to 300 thousand meters.
“Naftogaz” aims to increase its own natural gas production by 1 billion cubic meters in 2023 – up to 13.5 billion cubic meters. In 2022, UGV produced 12.5 billion cubic meters of natural gas (marketable), which is 3% less than in 2021.
Naftohaz Ukrayiny owns 100 percent of Ukrhazvydobuvannya.
Number of dead and wounded civilians in Ukraine from 24.02.2022 till 04.06.2023 un data
Source: Open4Business.com.ua and experts.news
Sukha Balka mine (Kryvyi Rih, Dnipro region), part of Aleksandr Yaroslavsky’s DCH Group, has started mining block 116-122 at the Yubileynaya mine at the minus 1420 m horizon.
According to the DCH Steel corporate newspaper, preparatory work took six months. Production is scheduled for seven months.
It is specified that the new block 116-122 from the Gnezdo deposit of the fifth floor at the minus 1420 m horizon was commissioned on July 5. The new production capacity has 277.5 thousand tons of reserves.
“When we started cutting the block, many miners were mobilized. Therefore, we had to find a labor reserve, given the complications of the energy crisis,” explained Nikolay Puntus, chief engineer of the mine, as quoted by the publication.
The average iron content in the massif is 56.83%.
“We will get rich ore over the next four months, then the percentage of iron will be lower,” Puntus said.
Sukha Balka mine is one of the leading mining companies in Ukraine. It produces iron ore by underground mining. The mine includes Yubileynaya and Frunze mines. Frunze mine. DCH Group acquired the mine from Evraz Group in May 2017.
The Verkhovna Rada on Friday, 31 months after its registration, adopted as a whole the government bill “On regulating the activity of separate subdivisions of a legal entity formed in accordance with the legislation of a foreign state” (No. 4482).
According to information on the website of the Rada, 254 people’s deputies voted in favor of it with the necessary minimum of 226 votes.
“The bill provides a comprehensive approach to the regulation of all aspects of legal relations (civil, labor, financial) related to the creation and termination of separate subdivisions of a legal entity formed in accordance with the laws of a foreign state”, – commented on the adoption of the document government representative in the Rada Taras Melnychuk in Telegram.
According to him, the requirements of Directive (EU) 2017/1132 of June 14, 2017, concerning certain aspects of corporate law (Codification), in particular, the rules of disclosure of information applicable to branches of companies from other Member States, are also taken into account.
As Melnychuk noted, according to the draft law, branches and representative offices of foreign enterprises are subject to state registration under the same rules as Ukrainian legal entities and public formations that do not have the status of a legal entity, and their termination is carried out by liquidation.
Data on establishment and termination are entered into the Unified State Register of Legal Entities, Physical Entrepreneurs and Public Formations.
The Law also prohibits the establishment of a branch or representative office of a company from an aggressor state or occupant state.
The fee for state registration is set at 1 living wage for able-bodied persons, and for the registration of changes – 0.3 living wage.
Seven banks out of 65 operating on the market currently provide the service of accepting worn-out foreign currency for collection, the Minfin newspaper reported with reference to the National Bank of Ukraine’s response to the inquiry and the results of a telephone call.
It is stated that in Raiffeisen Bank the commission for collection is 10% of the amount, in FUIB – 12%, in Accordbank, First Investment Bank and Credobank (not less than UAH 350) – 15%, in Ukreximbank – 20%, in MTB Bank – 50% of the amount.
As for the terms of collection, FUIB and Raiffeisen replied that “as a rule, it takes several weeks”.
The publication added that some banks, such as Kredobank, impose additional conditions – account opening.
In the state-owned Ukreximbank, a manager said that a few days ago the financial institution temporarily suspended the acceptance of old foreign currency for collection, but assured that the service will be resumed within a few days.
In addition, according to the National Bank, the largest state-owned PrivatBank and Oschadbank are planning to introduce this service soon.
