Contents tagged with business
-
Russia tightens exit regulations for foreign businesses, imposing heavier financial penalties
In a move potentially complicating the departure of foreign businesses, the Russian Finance Ministry has enforced stricter conditions under Kremlin directives. As reported by the Russian newspaper Kommersant, the minimum discount rate on the sale of foreign assets in Russia is set to increase from 50% to 60%. Additionally, the mandatory gratuitous contribution to the Russian budget will now rise from the current 15% to 35% of the asset's market value. The Finance Ministry has distributed these …
-
Poroshenko: Canadian business is ready to come to Ukraine
Ukrainian President Petro Poroshenko has invited the representatives of Canadian business to Ukraine. A meeting was held in the course of Poroshenko’s working visit to Canada, as the President’s press service reports.
"Earlier, Canadian Ukrainians invested in Ukraine to support the economy. At present, all Canadian business is ready to come [to Ukraine]. And I would like to say that it is the right time and place for investments,” the President emphasized, having added that Ukraine has high …
-
Putin wants to reduce the number of audits and prosecutions of businessmen in Russia
President Vladimir Putin signed a list of orders "on measures to reduce the administrative burden on business entities in the Russian Federation,” as indicated in a statement by the press service of the Kremlin.
The orders are divided into two main parts. The first concerns planned and unscheduled inspections of businesses by the government controlling bodies and the second is regarding the detention of "suspects and those accused of committing crimes in the field of entrepreneurial activity." …
-
Germany allocated $10 million for development of small business in Ukraine
The German Investment and Development Corporation (DEG) will contribute $10 million to the development of small and medium-size businesses in Ukraine, as reported on the website of the German Embassy in Ukraine.
This amount will be transferred to the Emerging Europe Growth Fund III (EEGF III). According to the website of the diplomatic department, this will allow access to long-term financing for small and medium-sized businesses in Ukraine.
The German Investment and Development Corporation …
-
Klimkin: Attracting US business to Ukraine is a huge priority for Kyiv
Attracting American investments in Ukraine is one of Kyiv’s top priorities, Minister of Foreign Affairs of Ukraine Pavlo Klimkin said.
In an interview with ZN.UA, Klimkin noted that the trading policy of the new U.S. administration is still under development. "I, for example, do believe in global markets, free trade, exchange of services, capital and, of course, labor. And I believe that the openness of Ukraine is its fundamental advantage, and we must use it… for attracting American business. …
-
Ukrainian businessman Yaroslavksy considers purchasing Russian bank
Ukrainian businessman Oleksandr Yaroslavsky is considering the possibility of purchasing one of the three “daughters” of Russian banks in Ukraine, including the “daughter” of Russian Sberbank. “I have considered investing in the banking sector, including the investment in the “daughter” of Russian Sberbank. However, no specific steps had been taken in this direction,” Yaroslavsky stated in his interview with Interfax-Ukraine.
In early June, the Deputy Chairman of the National Bank of Ukraine ( …
-
Bunge agribusiness to make large investment in Ukraine
According to a statement on President Petro Poroshenko’s Facebook page, Bunge - a leading agribusiness and food company - has made the largest investment in the agricultural sector of Europe by opening a production and shipment complex in Nikolaev.
"Such investment projects show investors’ confidence in Ukraine. By launching large scale projects, investors vote for Ukraine with money," the President noted.
He stated that authorities will "radically change legislation to protect investors and …
-
Ukraine hopes to enter top countries on 'ease of doing business' list
This year, the Cabinet of Ministers of Ukraine intends to implement legislative initiatives that would allow the country to improve its position in the World Banks’ Ease of Doing Business Ranking and enter the top 50 best countries in 2017, and in the top 20 by 2018, as highlighted in the “Top Priority Action Plans for the Government for 2016” posted on the Cabinet of Minister’s website on Friday.
The grounds for improving the country’s ranking is the implementation of effective regulation …
-
Mercedes decides to build plant in Poland instead of Russia
Mercedes has abandoned its plans to build its car factory in Russia, favoring Poland.
In January, the Head of Mercedes-Benz Daimler Dieter Zetsche stated that the construction of the Mercedes plant in Russia was still in the plans of the auto giant despite the situation with the Russian economy.
In 2015, new car sales in Russia dropped to 36%, or 1.6 million cars. 2016 is likely to be more significant. The Hyundai plant in Saint-Petersburg brought 1 billion rubles ($14.6 million) inlosses to …
-
Putin advises Russian businessmen to wait to sell their assets in Ukraine
On Thursday, Russian President Vladimir Putin visited the congress of the Russian Union of Industrialists and Entrepreneurs (RSPP), and later held a meeting with major businessmen behind closed doors. During the public part of the meeting, Putin praised the business leaders for their "mature and responsible" work, and assured them that the government is working on reducing the fiscal burden brought on by the economic crisis. The Russian President also said that he supports “easing the law” for …