Business news from Ukraine

Business news from Ukraine

CAPITAL LLC COMMISSIONS SECOND PHASE OF OBERIG CLINIC

Capital LLC (Kapital, Kyiv) has commissioned the second phase of the Oberig clinic, co-owner of Oberig and the Milk Alliance group of companies Oleksandr Derkach said on Facebook.
“As you already understood from my previous posts, our construction was completed. The second phase of the Oberig clinic was commissioned, and we began to receive the first patients there. Some 25,000 square meters, seven above ground floors and three underground, a large parking lot for employees and visitors, a charger station for electric vehicles, etc. Built in 2 years,” he wrote.
As reported, the beneficiaries of Capital LLC are Derkach and the director general of the Oberig clinic (Kyiv), Viktor Rybchuk.
Capital LLC was registered in 2005. Its core business is specialized medical practice.
The Oberig Universal Clinic medical center, one of the largest private investment projects in the field of healthcare in Ukraine, began work in 2008.
At the end of 2017, Capital LLC, within the framework of business social partnership and following the results of the won competition, began the construction of the second phase of the Oberig clinic in the territory of Kyiv City Clinical Hospital No. 14 in Zoolohichna Street.

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UKRAINIAN CAPITAL ENTERS TOP TEN CITIES WITH HIGHEST LEVEL OF SHARING SERVICES

Kyiv is one of the ten best cities in the world with the development of sharing services, the rating was held in 52 cities, the press service of Kyiv City State Administration has reported.
“Kyiv entered the top ten cities with the best level of development of sharing services. The assessment was carried out according to the level of access to such services as Uber and Airbnb, electronic scooters, applications for sharing professional cars, the ability to rent a car from private owners, as well as the ability to access all the gyms of Kyiv from one mobile application,” the report said.
It is noted that the best sharing services are developed in Tallinn, Vilnius, Riga, Warsaw, Kyiv, Sao Paulo, Tbilisi and other cities. In general, the rating was carried out in 52 cities of the world.
“Now in the capital in the field of sharing services, among other things, the bike sharing investment project from Next Bike with 45 rental points is being implemented and a project to rent electric scooters is being prepared for implementation,” Kyiv City State Administration added.

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MUSEUM OF MODERN ART COULD TO BE CREATED IN UKRAINIAN CAPITAL

Minister of Culture, Youth and Sports of Ukraine Volodymyr Borodiansky has announced the creation of a new institution in 2020 – the Museum of Modern Art, the press service of the ministry has said. “It will include several parallel processes: the concept of the museum, its material component and, at the same time, filling of the collection. This means that the state must buy art works, which are then to be displayed and stored in this museum,” said Borodiansky.
According to the Ministry of Culture, the creation of the museum is planned from 2020 and will last up to four-five years.
“The problem of our contemporary art is the physical absence of a museum that would accumulate the works of our outstanding masters. I am convinced that separate halls should be dedicated to outstanding Ukrainian artists such as Ivan Marchuk and other outstanding contemporary Ukrainian artists,” Borodiansky added.

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CAPITAL RETURNS OF UKRAINIAN BANKS EXCEED 20% IN 2019

Capital returns of banks in 2019 would considerably exceed 20%, which is the contingent standard for banking sectors of emerging countries, Director of the Financial Stability Department Vitaliy Vavryschuk said at the presentation of the financial stability report on Tuesday.
“In [the first] five months, the profit is already more than for entire 2018 [in January-May 2019, the net profit of banks was UAH 23.4 billion]. We are confident that capital returns of banks in 2019 would considerably exceed 20%, which is the contingent standard for banking sectors of emerging countries. We do not see any risks to profitability in subsequent quarters,” he said.
According to Vavryschuk, banks should use high profits to form the capital stock. In the coming years, capital requirements will be toughened substantially: it will be necessary to form capital conservation and systemic importance buffers (for systemically important banks), as well as to cover operational and market risks with capital (now only credit risk is covered with capital),” he said.

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INTERNATIONAL FINANCE CORPORATION STARTS PROCEDURES FOR ENTERING UKRGASBANK’S CAPITAL

The Finance Ministry, the International Finance Corporation (IFC) and Ukrgasbank have started assessing and structuring the financial took allowing IFC to enter the capital of this state-owned bank, the Finance Ministry reported.
“This is the most important stage in the implementation of the fundamentals of the strategic reform of the public banking sector… IFC’s entry into Ukrgasbank’s capital will be a powerful signal for international investors and will contribute to the further development of the banking system in general,” Finance Minister Oksana Markarova said.
The Finance Ministry said that the transition to this stage became possible as a result of the successful fulfillment of the terms of the tripartite memorandum of understanding signed in November 2017 to support the privatization (sale) of the bank by the ministry and Ukrgasbank.
According to the memorandum, IFC helped Ukrgasbank to strengthen corporate governance, ensure its operational independence, and further improve its stable banking model based on commercial viability.
Successful cooperation between the state-owned bank and IFC has already allowed for more than 145 projects in the field of clean energy using biofuels, hydropower, solar and wind energy with a total capacity of 866 MW, which is a quarter of all renewable energy facilities in Ukraine. Thanks to these projects, CO2 emission reduction has reached more than 1 million tonnes annually.
As reported, in November 2017, Ukraine’s Ministry of Finance agreed on cooperation with IFC in the process of privatization of Ukrgasbank. The memorandum of cooperation also envisaged a possibility of entering the capital of the bank by IFC to support its sale. The investment will depend on several factors, including the outcome of the due diligence of the bank.
Ukrgasbank was established in 1993 and the state represented by the Ministry of Finance owns 94.9% of its shares. Since 2015, the bank has been included in the list of state-owned facilities of strategic importance for the economy and national security.

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TASСOMBANK RAISES CHARTER CAPITAL BY 57.3% DUE TO MERGER OF VS BANK

TAScombank (Kyiv) has increased its charter capital by UAH 420 million, or 57.3%, to UAH 1.153 billion due to the merger of VS Bank (Lviv), TAScombank said in the information disclosure system of the National Securities and Stock Market Commission.
According to the report, Alkemi Limited reduced its share in the charter capital of TAScombank to 63.5% from 99.9%. At the same time, Bailican Limited became the owner of 36.4% of the shares. These companies are owned by Sergiy Tigipko, who indirectly owns 99.93065% of TAScombank.
As reported, in mid-October-2018 TAScombank and VS Bank completed the merger process.
At the beginning of November 2017, the National Bank of Ukraine allowed Tigipko to indirectly purchase a 99.9% stake in VS Bank. The direct buyer was the Cypriot company Bailican Limited. The deal was closed in early December 2017.

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