KYIV. April 28 (Interfax-Ukraine) – President and owner of DCH Group Oleksandr Yaroslavsky on Wednesday acquired a controlling stake in public joint-stock company Kharkiv Tractor Plant.
The press service of DCH reported that the proposal to sign the deal was from a shareholder in the plant and Austrian businessman Siegfried Wolf.
“In the situation with the plant it should be urgently saved. We can’t be having that the enterprise with a large potential dies. Wellbeing of almost 10,000 Kharkiv residents [workers with their families] and around 100,000 workers of adjacent enterprises all over Ukraine depends on its stability. An international consortium that we have created will work to achieve two key goals: restoration of production and return of Kharkiv Tractor Plant to the international level,” the press service said, citing Yaroslavsky.
The deal is being finalized.
Kharkiv Tractor Plant produces wheeled and tracked tractors, as well as road-building machinery based on tractors.
KYIV. April 28 (Interfax-Ukraine) – Kredobank (Lviv) in partnership with U.S. Western NIS Enterprise Fund (WNISEF) has started crediting small and medium enterprises (SMEs) on beneficial conditions, the bank’s press service has reported.
The bank said that the agreement between the bank and the fund was signed in April as part of the Economic Leadership Program, Export Promotion Policy Program, Impact Investing Program and Local Economic Development Program.
Earlier state-run Oschadbank joined the implementation of the programs.
Ukrainian enterprises would be able to receive affordable loans and individual businessmen in some cases. The entities are to realize social programs or settle some social issues of vulnerable people.
The bank said that these companies will be able to get credits from $10,000 to $100,000 in the hryvnia equivalent at 5-9% per annum for the term of up to 24 months to replenish working capital and up to 36 months to buy equipment, vehicles or property.
Own payment by the borrower for credits to buy equipment and property is to be from 10% to 30% of the cost of equipment or property.
KYIV. April 28 (Interfax-Ukraine) – A decree of the head of state of Indonesia foreseeing a visa free regime for Ukrainian citizens who arrive to the country for the period of less than 30 days has taken effect, the consulate department of Ukraine’s Foreign Ministry has reported.
The decree of Indonesia President of March 2, 2016 entered into force. Ukrainian diplomats said that visas are required only for journalist activities.
Ukrainian citizens are to show their passports at least six months of validity from the moment of arrival to Indonesia, return tickets of tickets to another country.
“Border services have the right to confirm the purpose of travel,” the department said.
KYIV. April 28 (Interfax-Ukraine) – Ukraine should step up efforts in mutual recognition of certificates. This would help to expand exports opportunities of Ukrainian pharmaceutical manufacturers, Board Chairperson of private joint-stock company Indar Liubov Vyshnevska has said.
“The issue is political. Today Ukraine’s GMP certificate and registration certificates are not recognized by any country. It is unclear why we receive these certificates in Ukraine facing many problems. Work of diplomatic missions on signing agreements on mutual recognition [of certificates] is very important for the Ukrainian pharmaceutical sector. If we do not go the way of mutual recognition we would spend at least three years in each country for registration of own products,” she said speaking at the National Forum of Export Support in Kyiv on Wednesday.
She also said that the absence of mandatory European requirements in the sphere of turnover of medicines hinders the implementation of plans of Ukrainian pharmaceutical companies to enter foreign markets.
“Even when we come to Kenya, they put EU legislation on the table and say that meet these requirements and we will register you. This happens not only in Kenya, but in Indonesia, Jordan, Columbia and entire Latin America. Everywhere they ask if we meet EU requirements,” she said.
Vyshnevska said that currency regulation is a large problem for Ukrainian pharmaceutical companies exporting their products.
“The global pharmaceutical market lives under consignation principles. At the moment when our rivals are building consignation warehouses in the regions we are attempting to return currency income. Today we have to include currency exchange risks to the price of goods. Of course, products become less competitive,” she said.
KYIV. April 27 (Interfax-Ukraine) – State-run enterprise Ukrspyrt in January through March saw a 3.8-fold rise in net profit year-over-year, to UAH 49.9 million.
“Spirit production increased by 59%, spirit sales – by 37%, exports of Ukrainian spirit – by 352% and sales revenue – by 49%. Tax payments also increased – by 40.4%. The state-run enterprise sent almost UAH 100 million to budgets of different levels,” the company said, citing Deputy Director Serhiy Bleskun.
The company said that even better figures would not help the company to recover until the spirit sector is completely reformed and the issue of its privatization and appointment of the director is settled.
“Ukrspyrt that incorporates 41 production sites, is the half of the sector. While Ukrspyrt declares sales of ethyl spirit of over 2.4 million decaliters for Q1 2016, other distilleries post data on the sale of 165,000 decaliters of spirit with the condition that the capacities are almost equal. The difference of taxes paid could be easily calculated,” Bleskun said.
KYIV. April 27 (Interfax-Ukraine) – The largest private Ukrainian mining and metal group Metinvest is developing a shipping line from Mariupol (Donetsk region) to Europe, expanding its fleet with a new ship of Handysize class from Turkey’s Canbaz Group.
The group said in a press release on Tuesday, Esra C bulker will supply metal products from Mariupol to Italian ports Marghera, Monfalcone and Ravenna.
The first cargo of 23,500 tonnes of slabs made by Azovstal was loaded on the ship with a carrying capacity of 30,000 tonnes on April 22, 2016.
The press service said that Metinvest launched shipping lines from Mariupol in late 2014. Now the group delivers cargos to Bulgaria, Turkey, Italy and Spain. The capacity of the lines in 2015 increased to 150,000 tonnes a month.
By the end of 2016 the Metinvest fleet will include 12 ships, three of which belong to Canbaz Group. The company seeks to ship its products to Northern Africa, Middle East and the United States.
