Saudi Arabia has supported the idea of holding a meeting between US President Donald Trump and Vladimir Putin on its territory and reaffirmed its ongoing efforts to achieve a lasting peace between Russia and Ukraine, the press service of the Saudi Foreign Ministry reported.
“The Kingdom of Saudi Arabia highly appreciates the telephone conversation held between US President Donald Trump and Russian President Vladimir Putin on February 12, as well as the announcement of the possibility of holding a summit between their esteemed two presidents in the Kingdom of Saudi Arabia,” the statement said.
The ministry added that the Kingdom welcomes the summit in Saudi Arabia and reaffirms its ongoing efforts to achieve a lasting peace between Russia and Ukraine.
It is noted that on March 3, 2022, Crown Prince and Prime Minister of the KSA Mohammed bin Salman bin Abdulaziz, during telephone conversations with Putin and Zelensky, “expressed the Kingdom’s readiness to provide its mediation services to achieve a political settlement of the crisis.”
“Over the past three years, the Kingdom has continued these efforts, in particular by organizing numerous meetings on this issue,” the Foreign Ministry added.
In January-June 2024, Ukrzaliznytsia (UZ) increased its revenue by 19.51% compared to the same period in 2023 to UAH 53.9 billion, while decreasing its profit by 33.2% to UAH 3.17 billion, according to its interim condensed consolidated unaudited financial statements as of June 30, 2024.
According to the report for 6 months. 2024 on the official website of UZ, revenues from freight transportation in January-June increased by 17.8% to UAH 43.01 billion. At the same time, revenues from passenger and baggage transportation grew even more significantly by 22.15% to UAH 5.35 billion.
At the same time, UZ personnel costs in January-June 2024 increased by 24.75% to UAH 24.72 billion compared to the same period in 2023. Electricity costs increased by 56.2% to UAH 7.78 billion. In contrast, fuel costs decreased by 14.92% to UAH 4.62 billion.
Net foreign exchange loss increased 26.2 times to UAH 2.87 billion in the period under review.
Profit before tax decreased by 35.7% to UAH 3.25 billion.
As of June 30, 2024, UZ was involved in litigation with the Ukrainian fiscal authorities regarding the accrual of additional tax liabilities for income tax, VAT and other taxes in the amount of UAH 1.1 billion, including additional fines and penalties. As of June 30, 2024, the group’s potential loss from third-party claims in other litigation and arbitration proceedings amounted to UAH 1.3 billion, compared to UAH 1.63 billion in 2023, the report says.
The UZ group includes the parent company JSC Ukrainian Railways, PJSC Dnipropetrovs’k Diesel Locomotive Repair Plant, PJSC Zaporizhzhya Electric Locomotive Repair Plant, PJSC Lviv Locomotive Repair Plant, PJSC Kyiv Electric Car Repair Plant, PrJSC “Korosten Reinforced Concrete Sleepers Plant”, PrJSC “Hnivan Special Reinforced Concrete Plant”, PrJSC “Kyiv Electrotechnical Plant ‘Transsignal’, LLC ‘UZ Cargo Wagon’, LLC ‘Zbut Energy Ltd’ (together with subsidiaries), 65.62% of PrJSC ‘Tast-Garantia’, 50.004% of PrJSC IC ‘Inter-Poly’ Ukraine, 100% of UZ Cargo Poland sp. z.o.o Poland.
As of February 10, Ukraine exported 78 thsd tonnes of soybeans, its reserves are estimated at 3.4 mln tonnes, which is significantly higher than the previous season, when they amounted to 2.6-2.7 mln tonnes, according to the analytical cooperative “Pusk”, created within the framework of the All-Ukrainian Agrarian Council (AAC).
According to analysts, the situation indicates the need to intensify sales in February-April, as in May-June traders will focus on the new harvest of grain and rapeseed.
“We have enough soybeans, and it is too early to worry. However, the demand may decrease closer to spring, which will affect prices. Therefore, it is important to take this factor into account and plan sales accordingly,” they said.
The experts reminded that the situation on the global market also affects Ukrainian exports. In Brazil, harvesting is delayed due to high soybean moisture, which leads to significant losses in the fields. This could change global balances and support prices. In addition, the market is waiting for the updated USDA report, which may adjust the forecasts for production in South America.
“If the crop losses in Brazil and Argentina are confirmed, this could be an additional factor in price growth. Already, the seasonal model shows that in late February and early March we may see the level of $400-405 per ton on a CPT basis, and potentially even $410-415 per ton,” analysts predict.
According to their information, the prices for soybeans on the domestic market of Ukraine are currently stable and amount to $388-393 per ton in ports, 17 500-17 700 UAH/ton at processors.
At the same time, the main restraining factor is the weak soybean meal market, which is why processors cannot actively compete with exporters.
In the coming months, according to analysts, some traders may try to increase margins, especially in May-June, when the focus will shift to the new harvest. “We have already seen similar situations in the market, so it is important to be prepared for possible price fluctuations,” Pusk summarized.
Metinvest Group’s KAMETSTAL plant in Dnipro Metallurgical Plant (Kamianske, Dnipro region) has mastered a new steel casting technology using continuous casting machine No. 1 to increase the output of high-quality billets.
According to the press release, in 2024, KAMETSTAL’s BOF Shop expanded the range of high-quality billets and increased the production of CCMs using this technology. This year, steelmakers are facing new challenges to improve the efficiency of stop casting.
It is explained that the main feature of this technology is to cover the steel jet with a dipping cup in the gap between the tundish and the crystallizer of the continuous casting machine. In this way, the hot metal is protected from the negative effects of secondary oxidation, which gives the billet improved quality to meet the requirements of consumers in both the European and domestic markets. This technology makes it possible to produce metal with higher requirements for chemical composition and macrostructure, and the margin profit from it is higher than from conventional billets.
Last year, as part of the program for the development of new products, Section CCM No. 1 successfully mastered the production of continuously cast billets with a cross section of 200×200 mm with increased requirements for chemical composition and macrostructure from 40X, 45X1 and 45 steels, which are used to produce 130 mm diameter wheels.
“Successful mastering of the required quality parameters made it possible to transfer the production of such a billet from CCM #2 to the first machine and make the products more efficient. In 2024, 2,940 tons of new billets were cast and shipped to Ukrainian and European customers, as well as for the internal needs of Kametstal’s rollers,” the plant’s information states.
It adds that the key tasks currently being addressed by the team of specialists involved in the program, in addition to expanding the product line, include testing the automatic start-up of the machine’s jets during stop casting. Starting CCMs in the AutoStart mode means, first of all, improving the quality of the cast metal by minimizing the influence of the human factor on this process.
“Kametstal was established on the basis of PJSC Dneprovsky Coke and Chemical Plant (DKKhZ) and the Centralized Steel Mill of PJSC Dneprovsky Metallurgical Plant (DMK).
According to the 2020 report of Metinvest Group’s parent company, Metinvest B.V. (Netherlands) owned 100% of the shares in DCCP.
Sukha Balka Mine (Kryvyi Rih, Dnipro region), part of Aleksandr Yaroslavsky’s DCH Group, has prepared a new production unit at Yubileynaya mine that will ensure that the company meets its targets over the next five months.
As Yubileynaya’s chief engineer Nikolay Puntus told DCH Steel’s corporate newspaper on Thursday, the unit 28-34 is located on the fifth floor of the Main seam at the minus 1420m horizon.
“There are not enough people, but the task was completed on schedule,” stated Puntus.
In addition, it is noted that representatives of the State Labor Service of Ukraine monitored the preparation of the block for operation, compliance with the requirements of laws and regulations on labor protection and subsoil legislation.
The block’s reserves amount to 135 thousand tons of crude ore with an iron content of 58.4%. Mining operations have already begun.
As reported, Sukha Balka mine produced 917 thousand tons of commercial ore in 2024, down 1.5% from 931 thousand tons in 2023. Plans for 2025 include the production of 850 thousand tons of commercial ore.
In 2023, Sukha Balka mine produced almost 931 thousand tons of commercial ore, compared to 1.469 million tons in 2022 (down 36.5%).
Sukha Balka mine is one of the leading mining companies in Ukraine. It produces iron ore by underground mining. The mine includes Yubileynaya and Frunze mines. Frunze mine.
DCH Group acquired the mine from Evraz Group in May 2017.
Arricano Group in Ukraine (hereinafter referred to as Arricano), a leading developer of four shopping malls (Prospekt shopping mall, RayON shopping center, Sun Gallery shopping mall, City Mall), paid UAH 205.9 million in taxes to the state budget of all levels, transferred more than UAH 4.2 million to help the Ukrainian Defense Forces and charity, the group’s press service reports.
“Despite the pressure on the Arricano Group and its employees from the law enforcement agencies of Ukraine in 2024, as well as the consequences of the armed aggression of the Russian Federation, we continued to work effectively. It was important for the group of companies not only to ensure the stable operation of all shopping malls, but also to perform social functions and develop wherever possible,” said Anna Chubotina, CEO of Arricano Real Estate LLC, quoted in a press release.
It is noted that the group also invested UAH 66.7 million in the restoration of the Sun Gallery shopping center, which was damaged by a missile strike on the city in January 2024.
“It was very important for us to restore the Sun Gallery shopping mall after the damage and resume its full operation as soon as possible, as we understood the significant social function of this facility and the importance of our efficiency for our tenant partners,” Chubotina emphasized.
Arricano has strengthened the tenant mix of “Sun Gallery” shopping mall in Kryvyi Rih and CITY MALL in Zaporizhzhia with the market leader in FMCG – Silpo supermarket, and attracted new domestic and international operators, including Sinsay, Diverse, Broxci, etc. In total, in 2024, 35 new stores and establishments were opened in the mall with a total area of almost 23.3 thousand square meters.
At the end of 2024, the average vacancy rate in Arricano shopping malls was less than 5%, in some facilities, in particular, in Prospekt shopping mall – 0%.
At the end of the year, all the group’s shopping malls welcomed more than 21 million visitors, compared to 23 million in 2023.
Arricano Real Estate Plc specializes in the construction of shopping malls and is one of the leading developers in the Ukrainian real estate market. Through its Ukrainian subsidiaries, the company owns and manages four shopping centers with a total area of 147.6 thousand square meters: “RayON and Prospekt in Kyiv, Sun Gallery in Kryvyi Rih, and City Mall in Zaporizhzhia. The company also owns 49.9% in Sky Mall (Kyiv) and land plots for further construction of three projects that are currently under design. The company is also engaged in the construction of the Lukianivka shopping center in Kyiv.
