KYIV. Sept 16 (Interfax) – Arthur Betz Laffer, the father of ‘supply-side economics’, has become the advisor on taxation issues to Natalie Jaresko, the Ukrainian minister of finance.
“As an advisor to the minister of finance, Laffer will be consulting the minister on issues concerning the implementation of tax reforms in Ukraine, which will allow the creation of a transparent and efficient taxation system that will stimulate investment, economic growth and job creation, as well as improve the quality of public services rendered for business purposes, and therefore, will give a powerful impulse for the sustainable growth of the national economy of the country,” the Ministry of Finance said in a statement on Tuesday.
The founder and head of Laffer Associates and Laffer Investments, Laffer obtained his PHD (Doctor of Philosophy) degree and later became a professor at Stanford University. He is also a professor at the University of South Carolina and the University of Chicago, the author of a theory linking state income with the average level of tax rates in the country (the ‘Laffer curve’). Laffer was once an economic advisor to U.S. President Ronald Reagan and UK Prime Minister Margaret Thatcher.
The statement also said that Slovakia’s former Deputy Prime Minister and Minister of Finance Ivan Miklos, as well as international economists Chris Wales and Robert Conrad had earlier joined the team of advisors and deputies of the Ukrainian minister of finance.
KYIV. Sept 16 (Interfax-Ukraine) – The European Bank for Reconstruction and Development (EBRD) could provide up to $40 million to GN Terminal Enterprises Ltd. (Cyprus), which belongs to the GNT group, to finance the expansion of the existing grain terminal at Odesa port, the bank said on Monday.
The bank said that its board will discuss the issue on October 14.
The total cost of the Serseris Grain Terminal project includes the expansion of the terminal’s capacity and its storage facilities, and is assessed at $69 million.
Serseris Holdings Limited (Cyprus) is a subsidiary of CHS Europe SA, which is part of U.S. CHS Inc.
CHS Inc. in spring 2009 said that the corporation had started investing in a joint project with GN Terminals (Odesa) on the creation of an export grain terminal in Ukraine on the Black Sea coast in Odesa with a capacity of 2 million tonnes a year.
KYIV. Sept 16 (Interfax-Ukraine) – Odesa International Airport saw a 10.7% rise in passenger flow in January-August 2015 year-over-year, to 650,400 people, the airport’s press service has reported.
In August 2015 alone, the airport serviced 116,600 passengers, which was 34.1% up on August 2014.
A total of 24,000 passengers were serviced on domestic routes, which was 25% up on August 2014.
The press service said that the number of passengers who flew international routes was also on the rise, 37% up, to 92,500 people.
The most popular destinations outside Ukraine were Antalya, Batumi, Warsaw, Vienna, Vilnius, Istanbul, and Tbilisi.
Since the beginning of 2014, the airport has begun to work with seven new airlines. During summer, the airport handles up to 46 flights every day.
Odesa airport’s main buildings were built in 1960-1961. A cargo terminal was built in 1982.
Odesa airport services the flights of about 20 domestic and foreign airlines to 60 countries.
KYIV. Sept 15 (Interfax-Ukraine) – Kyivsky cardboard paper mill (Obukhiv, Kyiv region), a leader in Ukraine’s pulp and paper industry in terms of production and sales, produced goods worth UAH 2.404 billion in January- August 2015, 62.6% up on the figure for January- August 2014.
According to the UkrPapir association, in January- August 2015, the mill increased its production of corrugated cardboard packaging by 2.1%, to 127 million square meters. The mill increased its production of cardboard by 0.5%, to 135,640 tonnes, including a rise of 10.2% in production of commodity cardboard, to 82,700 tonnes and a decline of 11.7% in production of box cardboard, to 52,950 tonnes.
Production of base paper (for sanitary products) decreased by 13%, to 46,140 tonnes, while production of toilet paper fell by 15.5%, to 255.6 million rolls.
In January-August cardboard packaging production in Ukraine fell by 17.2%, to 479.64 million square meters, and cardboard and paper output dropped by almost 10%, to 528,980 tonnes.
Kyivsky cardboard paper mill is one of the largest cardboard and paper producers in Europe. It mainly produces goods from wastepaper. Its capacity for processing wastepaper exceeds 850 tonnes a day. The mill exports its products to CIS states and other countries.
KYIV. Sept 15 (Interfax-Ukraine) – Ukraine will revoke special duties on imports of passenger cars with petrol engines with a capacity of 1,000-2,200 cubic centimeters irrespective of their origin, imposed on April 28, 2013, for a period of three years starting on September 30.
The interagency commission for international trade said in the Uriadovy Kurier newspaper on Saturday that the decision was made on September 10, 2015 after consideration of the recommendations of the Economic Development and Trade Ministry to lift the restrictions.
KYIV. Sept 15 (Interfax-Ukraine) – Weidmann Malyn paper factory (MPF, Zhytomyr region), the only producer of electrical insulating board for power engineering machines in Ukraine, increased production by 82.8% % in January- August 2015 year-over-year, to UAH 271.1 million.
According to statistics of the Ukrpapir association, cardboard output in natural terms rose by 43%, to 3,450 tonnes, while paper production fell by 30%, to 2,940 tonnes.
The mill produces electrical insulating board, filter paper, stained base paper and cardboard, as well as a wide range of packaging and special types of paper. Raw materials are supplied from Russia, Austria and Sweden.
In 2014, electrical insulating board exports accounted for almost 70% to Ukraine and 25% to the CIS countries.
Transformer boards produced by the plant are sold in Ukraine (20%), CIS states (30%) and non-CIS states (50%).
As reported, in 2014 Malyn paper factory increased production by 7.1% against 2013, to UAH 217.51 million, while paper production fell almost by 11%, to 6,040 tonnes, transformer board production dropped by 24.4%, to 3,140 tonnes.
Wicor Holding AG (Switzerland) owns a 94.6% stake in Malyn factory.
