Business news from Ukraine

Business news from Ukraine

Koretske granite deposit changes user

The State Service of Geology and Subsoil of Ukraine has approved amendments to the special permit No. 4383 granted to Nadra Ukrayiny Holding Company LLC for the extraction of granite from the Koretske deposit (including the Southwestern part) in Rivne region.

According to NADRA.INFO with reference to the order of the State Service of Geology and Subsoil of 24.07.2024 No. 332 (download), changes to the special permit for subsoil use are made in connection with the alienation.

Nadra Ukrayiny Holding Company LLC is owned by Valentyna Khytyk (through the Czech Kristi Company S.R.O.) and Yuriy Bizhan (owner of 50% of the company since 2022). Since March 2024, the company has been headed by Yuriy Lytvynchuk (YouControl). The company has no other special permits for subsoil, except for the alienated one.

The ultimate beneficial owner of Second Granite Company LLC with a 40% stake is Viktor Melnyk. The head of the company is Yuriy Polishchuk (YouControl). According to the State Service of Geology and Mineral Resources, as of July 2024, Druha Granitna Kompaniya LLC holds two valid special permits (both acquired at auctions of the State Service of Geology and Mineral Resources): No. 5562 for the Negrebivske sand deposit in Zhytomyr region and No. 6522 for the Hvizdivske granite deposit in Rivne region.

According to the Public Audit of Subsoil Use, granites and gneiss-granites of the Koretske deposit are suitable for use as facing stone and raw materials for rubble and crushed stone.

As a reminder, the State Service of Geology and Subsoil revoked a special permit granted to Granitexpo LLC to mine granites from the Sarnovytske deposit in Zhytomyr region.

https://nadra.info/category/market/

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Quotes of interbank currency market of Ukraine (UAH for 1 pln, in 01.04.2024-30.04.2024)

Quotes of interbank currency market of Ukraine (UAH for 1 pln, in 01.04.2024-30.04.2024)

Source: Open4Business.com.ua and experts.news

France will host Winter Olympics as well

The International Olympic Committee (IOC) has chosen the French Alps to host the 2030 Olympic and Paralympic Winter Games.
“IOC President Thomas Bach said that the delegation that presented the French Alps’ bid reaffirmed its full commitment to the 2030 Olympic and Paralympic Winter Games. France is always raising the bar for excellence in organizing sporting events. Therefore, it is necessary to support their model of the future: innovative, ambitious, environmentally friendly and accessible to all,” the National Olympic Committee of Ukraine (NOC) said in a statement.
It is noted that the IOC is confident that France will organize the Winter Olympics with the same creativity and sophistication that is already being seen in Paris.
According to the report, this is the fourth Winter Olympics hosted by France. In 1924, the Olympics were held in Chamonix, in 1968 in Grenoble, and in 1992 in Albertville.

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Amount of transfers in NovaPay increased by 26%, number of transactions – by 17%

The amount of transfers through the international financial service NovaPay in January-June 2024 reached UAH 136.6 billion, which is 26% more than in the same period of 2023, the company’s press service reports.
It is noted that in January-June this year, 193 million transactions were made through the NovaPay system, which is 17% more than in the first half of last year.
According to the release, the company transferred UAH 530 million to the country’s budget, which is 13% more than in the first half of 2013, and assistance to the Armed Forces amounted to UAH 3 million.
It is noted that the most popular services of NovaPay, in addition to traditional transfers, were card replenishment operations, cash withdrawals, and utility bills.
NovaPay is an international financial service founded in 2001 that is part of the Nova group and provides online and offline financial services at Nova Poshta offices. According to its website, the company employs about 13 thousand people in more than 3.6 thousand Nova Poshta offices across Ukraine. According to the National Bank of Ukraine, the company accounts for 35% of the total volume of domestic money transfers.
In 2023, the consolidated revenue of NovaPay non-banking financial group increased by 46.4% to UAH 7 billion 617.91 million, and net profit by 38.3% to UAH 3 billion 267.13 million.

Oschadbank increased its net profit by 29%

State-owned Oschadbank (Kyiv) earned UAH 8.81 billion in net profit in January-June 2024, up 29%, or almost UAH 2 billion, compared to the same period last year, the financial institution said on Tuesday.
“Such dynamics testifies to the effectiveness of the implementation of the military strategy of Oschad,” the state bank commented on the results.
It is specified that in January-June, the bank received UAH 2.7 billion of net profit from the revaluation of financial instruments in the securities portfolio, and in June, the net profit of Oschad amounted to UAH 74 million.
The bank’s net interest income increased by almost 26% to UAH 10.96 billion for the half-year, while net non-interest income increased by about 13% to UAH 4.09 billion.
“This result was achieved, in particular, due to the increase in lending to businesses and households: the respective loan portfolios of large corporations, micro, small and medium-sized businesses and individuals increased during the first six months of the year,” Oschadbank explains.
According to the release, the financial institution’s operating profit for the first half of 2024 exceeded UAH 7 billion, which is a quarter better than the result for the same period last year.
It is noted that Oschad has sufficient liquidity and capital at its disposal. In particular, the bank’s regulatory capital adequacy ratio (RCR) as of July 1, 2024 amounted to 14.35%, while the NBU’s established standard is 10%.
“We are pleased with the results achieved due to the stable operation of Oschadbank and successful adaptation to the wartime conditions. One of our main tasks now is to ensure that these results are even more beneficial to the real sector of the economy to ensure a stable recovery and further development of the country,” said Oschadbank Chairman of the Board Serhiy Naumov.
According to him, the bank is currently paying special attention to providing clients with affordable financial resources to restore energy infrastructure and strengthen energy independence of businesses and citizens.
According to the NBU, the bank’s net profit last year amounted to UAH 6.84 billion. As of June 1, 2024, Oschad ranked second in terms of total assets (UAH 415.82 billion) among 63 operating banks.

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ULIE Appeal to Law Enforcement Agencies and Public

The Ukrainian League of Industrialists and Entrepreneurs (ULIE) is forced to appeal to law enforcement agencies and the public due to a new incident of attempted blocking of its activities at its headquarters at 34 Khreshchatyk Street, Kyiv.

The personal belongings of the business union’s employees, as well as important working documents, keys for electronic signatures, forms and seals of the organization remain in the premises. This situation greatly complicates our activities and threatens to disrupt the international projects to restore Ukraine that we are involved in.

We remind you that a few months ago, the balance holder of the premises, the Office of Administrative Buildings of the Economic and Financial Department of the CMU Secretariat, decided in an ultimatum not to agree to the extension of the USPP office, which it has occupied for 32 years, arguing that government officials need the building. At the same time, the Cabinet of Ministers itself has announced a reduction in ministries and, accordingly, in their staffs, and the neighboring floors of the building on Khreshchatyk, with a total area of about 3,000 square meters, have not been used for years.

The ULIE seeks to resolve everything exclusively in the legal field. Therefore, court proceedings on this issue are ongoing, and the courts have not yet made a decision on this issue.

Instead, the balance holder, without waiting for a court decision, installed a metal structure worth about 400 thousand hryvnias – and this is in wartime, in conditions of unprecedented budget deficit – to simply prevent employees of the NGO from returning to their workplaces.

On the basis of the ULIE, the Anti-Crisis Headquarters for Economic Sustainability under Martial Law operates, where the problems of the wartime economy are discussed, and the meetings are attended by representatives of the parliament, government officials, business organizations, the National Academy of Sciences and others. The headquarters’ recommendations are taken into account in the decisions of the National Security and Defense Council and the Government, as well as in draft laws of the Verkhovna Rada. For example, a recent meeting of the Anti-Crisis Center was devoted to the issues of reservation and energy. Our efforts have resulted in progress in the electronic booking of specialists, and before that, in the ability to book all 100% of employees of defense companies, etc. Proposals on energy are expected to be taken into account in the NSDC decisions. The day before, Anatoliy Kinakh, President of the ULIE, held a working meeting with Oleksandr Lytvynenko, Secretary of the National Security and Defense Council, where the parties agreed on joint actions in this area.
The Ukrainian League of Industrialists and Entrepreneurs is actively involved in the implementation of the President’s initiative “Made in Ukraine” and the joint Statement of the Government and business associations of Ukraine on deepening cooperation between the state and business.

Moreover, the ULIE regularly hosts meetings and working communications with international partners: a joint project with the ILO to stimulate women’s economic involvement through the development of a network of corporate children’s spaces, online conferences with related business organizations from the EU, the US, and other partner countries of Ukraine in the fight against the Russian aggressor, and meetings with ambassadors.
In Warsaw, the ULIE registered the Premier-U International Foundation, whose main goal is to restore Ukraine from the consequences of Russian aggression and attract investments from partner countries for these purposes. The supervisory board of the Foundation includes former prime ministers of Ukraine and Poland, and in the future – most EU countries.

Therefore, such unilateral actions by the balance holder (the CMU Office) threaten to disrupt important projects to restore Ukraine and call into question the state intentions of individual government officials involved in this case.

As long as the court proceedings are ongoing, it is unacceptable to impede the statutory activities of the USPP, an organization with a 32-year history, known and respected in business circles in Ukraine and the EU. This harms the European integration process, the image of the state, worsens business expectations and reduces the effectiveness of the government-entrepreneurs’ dialogue.

The unimpeded operation of the ULIE is critically important for supporting Ukrainian business and industry, especially under martial law.

We appeal to Ukrainian business associations, employers’ associations, public organizations and initiatives to support us as you have always done. We also appeal to the media to cover this incident. Your attention and support is important for ensuring transparency and justice in our country.

The war unleashed by the Russian Federation against Ukraine continues. The enemy is focusing its efforts on depleting Ukraine’s resources.
Now is the time for unity, joint work to increase the resilience and self-sufficiency of the national economy, development of Ukrainian production, and thus further strengthening of our defense capabilities.

For more details, please visit the official website of the ULIE (uspp.ua).
The background of the issue is here.

 

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