KYIV. March 14 (Interfax-Ukraine) – The upward price trend for long and flat rolled steel on most regional markets strengthened in late February and early March 2016, state-owned enterprise Ukrpromzovnishekspertyza has reported, referring to a recent study published by the weekly bulletin “Steel Market: Analytics, Forecasts, Scenarios.”
The company said in a press release last week that a campaign to boost warehouse stock in China was partially behind the trend. Construction sector stocks rose 1.24 million tonnes in two weeks amid expectations for a seasonal uptick in demand.
According to the study, the steel market’s revival led to increased spot prices for ores in early March. Prices increased sharply, growing by 23%, to $64 per tonne.
“Demand on construction steel mix in Turkey is growing. This has allowed Turkish companies to increase domestic prices for slabs by $20, to $295-315 per tonne EXW, bar products – by $32, to $352-368 per tonne EXW,” the company’s press service said, citing an expert from Ukrpromzovnishekspertyza, Oleh Hnytetsky.
The situation on the flat steel market in February was favorable for producers, who increased prices by $5-30 in all regions.
“Rather scarce stock on the market before the spring period and the rollback of quotations for iron ore on the spot market contributed to this, as well as the rise in the prices of iron ore and scrap metal,” another expert, Dmytro Zheltiakov, said.
EU countries increased their prices by EUR 25-30 after imposing duties on imports of cold rolled steel from Russian and Chinese domestic producers.
KYIV. March 14 (Interfax-Ukraine) – A number of business organizations have initiated holding the All-Ukrainian Business Forum with a view to developing measures to overcome the social and economic crisis and prepare a strategy for the further development of Ukraine.
“The main task of our forum, to be held on March 18, is to find a way out of the current situation in Ukraine, summarize and create the programs and strategies that will enable the irreversibility of Ukraine’s development as an acting member of the EU,” Head of the Anti-Crisis Council, President of the Ukrainian League of Industrialists and Entrepreneurs Anatoliy Kinakh said at a press conference at Interfax-Ukraine.
The organizers of the forum will also be the Federation of Employers of Ukraine, the Council of Entrepreneurs under the Cabinet of Ministers, the Ukrainian Chamber of Commerce and Industry and others.
The event will present an integrated and depoliticized analysis of the socio-economic situation prepared by the leading national analysts.
A plan of urgent measures to overcome the social and economic crisis will be worked out on the basis of proposals from businesses, analytical and expert organizations, and non-governmental organizations. The organizers hope this plan will form the basis of the government’s activities for 2016-2017.
KYIV. March 12 (Interfax-Ukraine) – Ukraine has presented the country’s travel destinations at the united national stand of the world’s leading travel trade show – the 50th International Travel Market (ITB) in Berlin.
The gross space of the Ukrainian stand is 60 meters where 16 participants are located. Along with tour operators and hotels, the following cities present travel services in Ukraine: Kyiv, Odesa, Lviv and Chernivtsi.
UIA airline is a participant of the Ukrainian stand.
“The Ukrainian stand is popular both among visitors and local journalists, and they show their interest not only in Kyiv and Lviv, but also the possibility of traveling to Odesa region, Carpathian Mountains and eco-tourism,” Head of the tourism and resort department of the Economic Development and Trade Ministry of Ukraine Ivan Liptuha said.
In 2016, the Ukrainian stand is presented thanks to financing by representatives of the Ukrainian travel business and assistance of European donors who provided EUR 20,000 for leasing of the stand space.
The core issue discussed at ITB 2016 is security of tourists.
KYIV. March 12 (Interfax-Ukraine) – The Cabinet of Ministers has approved the order of VAT accumulation on special accounts by agricultural enterprises.
The corresponding decision was fixed in cabinet resolution No. 156 dated February 24, the text of which has been posted on the government’s website.
“Changes have been put to the order of VAT accumulation by agricultural enterprises on special accounts opened at banks and/or authorities responsible for the treasury service of budget funds. Thus, agricultural producers have the opportunity to accumulate VAT funds to use them for production purposes. This mechanism will be in effect until January 1, 2017,” reads the report.
As reported, the Verkhovna Rada endorsed a compromise decision on the abolition of a special VAT regime for farmers by providing them with a preferential regime for the period of transition to the general taxation system.
In 2016, during the period of transferring to the general taxation system milk producers and cattle farmers will retain 80% of VAT, while the remaining 20% will be sent to the budget.
Farmers, working with grains and industrial crops, will pay 85% of VAT to the budget, while the remaining farmers will pay 50% of VAT. A special VAT regime for agricultural producers will be abolished from 2017.
KYIV. March 12 (Interfax-Ukraine) – Kyiv authorities plan in 2016 to raise about UAH 10 billion in investment, which is 5.9 times more compared to the previous year, Kyiv Mayor Vitali Klitschko has stated.
“Last year we got UAH 1.7 billion of investment. Maybe someone will say this is not so much, but these are very important funds. This year we expect about UAH 10 billion of investment,” Klitschko said at a meeting with representatives of the member companies of the American Chamber of Commerce in Kyiv.
According to him, in 2015 the Kyiv authorities worked to optimize and simplify procedures to attract investors to the city. In particular, the period of approval procedures for proposed investment projects was reduced from 500 to 90 days.
In addition, Klitschko said the city authorities managed to establish cooperation with international financial and donor organizations in the context of attracting grant funds for the development of the city, as well as created the InvestInKyiv web portal, which allows potential investors to get free access to projects and commercial proposals of the city.
The Kyiv mayor said there are many areas for the development of investment projects in the city, particularly in transport and infrastructure, medicine, energy and waste treatment.
