The introduction of state regulation of oil prices for gas stations will lead to an increase in illegal production and fuel shortages. Some experts and representatives of the relevant association stated this.
“The initiative of the Ministry of Economy and Agriculture of Ukraine to introduce state regulation of oil prices at gas stations will deal a devastating blow to the legal sector of the fuel market, create a powerful incentive for artisanal production and deeper penetration of tax evasion schemes,” – is stated in the article of the Consulting Group A-95.
The European Business Association also criticized the government’s decision. They noted that it contradicts the Association Agreement with the EU, as the decision on state regulation of prices eliminates the role of the market as the main regulator of market relations and will promote state intervention in economic business processes.
“The market price of fuel includes not only the average cost of petroleum products, according to the international news agency, and the marginal level of trade margin of 5-7 UAH (as stated in the project), but also the cost of transportation in Ukraine and abroad, transshipment costs , storage, certification, exchange rate changes, quality control, etc. Therefore, “manual” price regulation can destroy the pricing mechanisms used by transparent business for years and create a crisis with unpredictable supply of petroleum products to consumers, shutdown of transparent gas stations, etc. “, – noted in the EBA.
In turn, the Oil and Gas Association of Ukraine stated that the establishment of a marginal fuel surcharge would provoke a shortage of fuel and create conditions for strengthening the position of shadow gas stations.
The Fund for Economic Stability (WSF), created by the German government, saved the largest German airline from bankruptcy after the collapse of air traffic in March 2020 with billions of infusions, but now there is a way out of the crisis, the concern said. Lufthansa intends to return to the state by the end of […]
The German concern Lufthansa plans to remove the state from its co-owners by increasing its capital by 2.14 billion euros and returning the state anti-crisis aid received during the COVID-19 pandemic. These measures will begin before the elections to the Bundestag on September 26, the airline said on Sunday evening, September 19. From September 22 […]
In 2021, Russia’s Gazprom supplied 20.3 billion cubic meters of gas to Turkey, which is the maximum figure in less than nine months. This was reported by the company’s press service following a meeting of its chairman Alexei Miller with Turkish Minister of Energy and Natural Resources Fatih Donmez on Monday, September 20. At the […]
According to the updated data of the State Statistics Service, Ukraine’s GDP growth in the second quarter of 2021 was 5.7% in annual terms, which is 0.3% higher than the previous estimate. In particular, for six months the nominal GDP was UAH 1 trillion 169.4 billion, and per capita – UAH 28.19 thousand. Compared to […]
Exports of goods accounts for a third of Ukraine’s GDP.But we sell primarily raw materials abroad. It is a marker of underdeveloped countries and a path that does not contribute to economic development. Our state’s strategic task is to increase the exports of high-tech goods with high added value: that is, not just to grow […]
Next year, Ukraine may face a number of macroeconomic risks that will greatly affect economic growth. The Ministry of Finance listed these risks. In particular, Ukraine may lose 0.6-0.8 percentage points of GDP growth due to too low grain yields, due to which the budget will not receive UAH 8.5 billion. At the same time, […]
The low-cost airline Ryanair plans to expand in Ukraine if the open skies agreement with the EU is approved in the coming months. CEO Michael O’Leary stated this. O’Leary predicts the signing of an agreement between Ukraine and the EU by the end of 2021. “One of the markets I would single out is Ukraine. […]
Ukraine plans to privatize 737 state-owned enterprises during 2021-2023. The Ministry of Economy published the list of objects for sale. Although some companies will be able to sell only after the amendments to the legislation. In particular, such large enterprises as Centerenergo, the United Mining and Chemical Company, Turboatom, the Zaporizhia Titanium and Magnesium Plant, […]
A recent study by the Law Society of Scotland has shown a 42% pay gap between female solicitors and their male counterparts, despite women representing half of the legal profession in Scotland. The Law Society found that from the age of 36, women are paid a lower salary, on average £18,000 less, than men of […]Next
The largest producer of oil Kernel increased its sales of sunflower oil for 7%, grain – felled by 6% in the II quarter of the 2016 fiscal year. Kernel, one of the largest Ukrainian agricultural groups, in the second quarter of fiscal year 2016, which began in July 2015, reduced its grain sales by 6% […]Next
Ukraine plans to privatize 737 state-owned enterprises during 2021-2023. The Ministry of Economy published the list of objects for sale. Although some companies will be able to sell only after the amendments to the legislation. In particular, such large enterprises as Centerenergo, the United Mining and Chemical Company, Turboatom, the Zaporizhia Titanium and Magnesium Plant, […]Next
SE Antonov and Taqnia Aeronautics Co., signed an agreement on cooperation in the organization of the aircraft manufacturing complex for production of aircrafts An-132. This is stated in the press service of the Antonov. The document contains specific plans for delivering, organizing operation, after-sales support of Antonov aircrafts families of AN-132, AN-148 and AN-178. It […]Next
Ukrzaliznytsia suffered record losses in less than 2020 – more than 11 billion hryvnias. At the same time, this year the company plans to make a profit of 3.5 billion. According to the Marlin project, Ukrzaliznytsia’s loss in the first three quarters of last year amounted to UAH 11.36 billion. Such results in UZ were […]Next
The Antimonopoly Committee has granted permission to the company EDAL Holding und Finanzierungsberatung GmbH (Austria) for the acquisition of a 50% stake in Investbank. This is stated in the committee report. “Granted the permission to the EDAL Holding und Finanzierungsberatung GmbH (Vienna, Austria) for the purchase of shares of Investbank (Odessa), which provides excess of […]Next
The Ukranian exchange simplified the access conditions on the market to the new consumers. Oleh Tkachenko, the Chief Executive Officer of Ukrainian exchange said: “NBU made a decision about the exchange derivatives banks deregulation. We provide them with the opportunity to trade the urgent contracts”. The exchange council of exchange platform decided not to levy […]Next
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Introduced five years ago in Amazon’s warehouses the robots did not make the life easier for the employees – on the contrary, people are now forced to work four times faster. In addition, the robotics has brought Amazon warehouses to the record 14,000 serious injuries by the end of 2019. The current figures are to […]Next
Ford official dealer representatives in Ukraine informed that Avtovinn company had developed in Vinnytsia a new Ford affiliate dealer centre. The Vinnytsia dealer centre is the third Ford centre in Ukraine . The two others have been located in Dnepr and Kyiv. It provides the full services from selling to Ford cars maintenance. The new […]Next
According to informed sources, the Antimonopoly Committee has fined the Dnepropetrivsk pharmacy for consumer fraud. The fine for the violation of unfair anti-competition law amounted to 68 thousand UAH. The Dnipropetrivsk regional territorial office of the AMCU asked the “Pharmacy №338”, LLC (Dnepropetrivsk) to pay the fine as soon as possible. This was said on […]Next
A grandiose financial scandal occurred in Toshiba. The company is accused in violating accounting and providing false information about their income. Because of the false information, as contained in the financial records of the company, the amount of income for the period 2008-2014 was understated for $ 1.9 billion. The regulatory authorities proposed the fine […]Next
The American company Google on Wednesday, March 3, announced its intention to abandon tracking the individual activity of users. Instead, the Internet giant will introduce new technologies that protect users’ privacy and allow advertising to be targeted without gathering information about them. “People don’t have to accept that their online activity is tracked to benefit […]Next
The American manufacturer of electric cars Tesla Inc apologized to Chinese customers for how the company responded to complaints, and promised to create a center to improve the quality of service, according to The Wall Street Journal. The move came after one of the visitors to the Shanghai Motor Show on Monday staged a demonstration […]Next
President of the United States Donald Trump is studying the issue of prohibition of Chinese company Alibaba in the US. “Well, yes. We study and other things” – quotes his words the portal. In such way Trump answered for the question of whether the government does not intend to ban the work of other major […]Next
The Bank of Japan has announced plans to begin experimenting with the digital currency early next fiscal year. At the first stage, it is planned to test the main functions of the digital currency, including the methods of its issuance and circulation. The second stage involves additional technical experiments. The Bank of Japan may then […]Next