Business news from Ukraine


The National Bank of Ukraine (NBU) on December 20 introduced into circulation the upgraded 50-hryvnia bills, as well as 5-hryvnia coins that will gradually replace the respective banknotes, the NBU has reported on its website.
According to the report, first of all, the NBU intends to introduce 5 million of 50–hryvnia banknotes and 5-hryvnia coins. The first batch of means of payment had already been distributed to NBU regional offices.
The NBU has catered to the needs of the public, since customers will not be required to exchange the current 5- and 50-hryvnia bills for new coins and banknotes. No time limits will be imposed on the simultaneous use of new and previous banknotes in payments.
The 5- and 50-hryvnia banknotes of the previous design will be gradually replaced with coins and new banknotes as they wear out. The number of upgraded bills and coins will gradually increase in circulation, depending on the economy’s needs, the bank said.
The NBU said that the introduction of into circulation the upgraded 50-hryvnia bills and 5-hryvnia coins is a part of optimizing and upgrading the banknote and coin series of hryvnia.
Since 2014, the NBU has been upgrading the hryvnia and streamlining cash settlements. Optimization of the banknote and coin series of hryvnia is expected to be completed in 2020 after 200-hryvnia banknotes are introduced into circulation alongside 10-hryvnia coins. Due to comprehensive changes, eventually, the hryvnia series will be optimized to 12 denominations. The new denomination series will have six coins (10 and 50 kopiikas, and 1, 2, 5, and 10 hryvnias) and six banknote denominations (20, 50, 100, 200, 500, and 1,000 hryvnias).

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Deputy Head of the parliamentary committee for finances, tax and customs policies (the Servant of the People parliamentary faction) Oleksandr Dubinsky last week registered bills No. 2252 and No. 2253 annulling the military levy.

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Bills on detective services could reduce the market to only collecting and capturing information, lawyers of Kinstellar law firm – Counsel Iryna Nikolayevska and associate Julia Palaida – have told Interfax-Ukraine, commenting on bill No. 1228 submitted by MP Andriy Kozhemiakin (Batkivschyna parliamentary faction) and alternative bill No. 1228-1 submitted by MPs Mykola Halushko and Viacheslav Medianyk (both from the Servant of the People parliamentary faction).
The lawyers said that at present, the most popular services of private detectives are the search for missing persons, the search for children hidden by one of the spouses, the search for assets of a person in order to recover them, and the verification of the reliability of business partners and employees.
“If regulation of this sphere is introduced in the format proposed by bills No. 1228 and No. 1228-1, the functions of a private detective will actually be reduced to collecting and recording information, since none of these documents authorizes detectives with powers similar to those of law enforcement agencies. Moreover, the bills do not directly regulate the question of how the court should evaluate the evidence collected by the detective, and whether the court will consider it to be appropriate evidence,” the lawyers said.
The Kinstellar law firm experts believe that the information collected by the detective should be regarded as proper evidence (provided there are no violations during the collection).
“It would be nice to clarify the law in this matter,” Nikolayevska and Palaida said.
Moreover, in general, the lawyers consider attempts to regulate the sphere of private investigations to be positive.

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