Business news from Ukraine

UKRAINE INTERESTED IN MOLDOVAN EXPERIENCE OF ACHIEVING VISA-FREE REGIME WITH EU – POROSHENKO

KYIV. May 7 (Interfax-Ukraine) – Ukrainian President Petro Poroshenko met with Prime Minister of Moldova Chiril Gaburici on Wednesday. The parties discussed relevant issues of bilateral relations and experience in cooperation with the EU, the press service of Ukrainian President has reported.

“The President noted the importance of strong and politically stable Moldova for Ukraine. Ukraine is interested in coordinating actions on the European integration and the exchange of experience on the introduction of the visa-free regime,” the press service reported.

According to the President, it is important to fully use benefits of the European integration and reduce risks. “Coordination of actions and efficient mutual support is an important factor,” the Head of State emphasized.

The President said that Ukraine supported Moldova and highly appreciated common projects on economic development, financial stability and benefits of the European integration.

In turn, Chiril Gaburici noted: “Given that the situation in the world is changing rapidly today, it is important to stick together and help one another.” According to him, there are a lot of economic issues in which the two countries can cooperate and achieve progress.

The Moldovan Prime Minister also expressed interest in Ukraine’s experience of reforms. “We are willing to implement reforms and fight corruption. You already have such an experience,” Gaburici said.

The EU has already introduced a visa-free regime for Moldova. Ukraine expects a corresponding decision from the EU at the Eastern Partnership summit in Riga at the end of May.

ACELORMITTAL KRYVYI RIH, POLTAVA MINNING, ILLICH STEEL WORKS GET LARGEST VAT REFUNDS IN APRILL

KYIV. May 6 (Interfax-Ukraine) – The largest recipients of VAT refunds in April 2015 became ArcelorMittal Kryvyi Rih – UAH 301.9 million, Poltava Mining – UAH 254.9 million, and Mariupol Illich Steel Works– UAH 204.1 million.According to the State Treasury Service, in general in April VAT refunds grew to UAH 4.4 billion from UAH 2.96 billion a month earlier and UAH 4.3 billion in February.

Large sums of VAT refunds in the past month were also paid to Kernel-Trade from Kernel agroholding (UAH 174.5 million), Zaporizhstal (UAH 169.8 million), Kriukov Car Building Works (UAH 149.4 million), Mykolaiv Alumina Plant (UAH 132.2 million), egg powder producer Imperovo Foods from Avangard agro-holding (UAH 125.9 million), Rise seed producer (UAH 111.2 million) and Azovstal (UAH 99.8 million).

They are followed by Sumy-based Nasosenergomash (UAH 99.2 million), Evraz Sukha Balka (UAH 95.5 million), DTEK Trading (UAH 81.6 million) and Dniprovsky Steel Works (UAH 80.7 million).

VINNITSIA IS PIONEER IN GETTING EUROPEAN ENERGY AWARD CERTIFICATE IN UKRAINE – GROYSMAN

KYIV. May 5 (Interfax-Ukraine) – Vinnytsia was the first Ukrainian city that received the European Energy Award (EEA) certificate, Speaker Volodymyr Groysman has said.

“Our Vinnytsia team worked jointly with Swiss partners for over three years, introducing projects in energy efficiency area and a modern energy governance system. This is an example of potential of local self government agencies in settling problems, for example, energy independence,” Groysman wrote on his Facebook page on Tuesday.

The European Energy Award was founded by Switzerland in 1988. Now this is an international tool of supporting municipalities committed to sustainable municipal energy via the rational use of energy and the increase of the share of renewable sources in the municipal energy balance. There are more than 1,300 municipalities participating in the EEA today.

UKRAINE EXPORTS 29.3 MLN TONNS OF GRAIN SINCE EARLY 2014/15 AGRI-YEAR

KYIV. May 5 (Interfax-Ukraine) – Grain exports from Ukraine since the beginning of the agricultural year (July-June) as of April 30, 2015 totaled UAH 29.26 million tonnes, including 10.07 million tonnes of wheat, the Agricultural Policy and Food Ministry said in a press release.

The ministry said that 14.64 million tonnes of corn and 4.34 million tonnes of barley was supplied to the foreign markets. Exports of other grain totaled 218,000 tonnes.

As reported, with reference to the State Statistics Service, Ukraine in 2014 harvested a record high of 63.8 million tonnes of grain and leguminous crops (excluding Crimea), which is 2.4% more than in 2013.

In late January, the ministry and grain market players signed a memorandum of understanding on grain exports in the 2014/2015 MY. In addition to the memorandum, the volume of wheat exports was defined – 12.8 million tonnes, including 7.1 million tonnes of food wheat, corn – 20.2 million tonnes, barley – 4.2 million tonnes.

MOTOR SICH BOOSTS CONSOLIDATED NET PROFIT BY 2.1 TIMES IN Q1, 2015

KYIV. May 5 (Interfax-Ukraine) – PJSC Motor Sich (Zaporizhia) saw the rise in consolidated net profit by 2.12 times in January-March 2015 year-on-year, to UAH 1.033 billion, under international financial reporting standards (IFRS).Motor Sich’s consolidated net revenue in the first quarter of 2015 rose by 63.98%, to UAH 3.029 million, the company said in its financial report in the information disclosure system of the National Commission on Securities and the Stock Market.

Motor Sich is one of the world’s largest manufacturers of engines for aircraft and industrial gas turbines. It supplies products to 106 countries.

In 2014, Motor Sich’s net revenue under IFRS rose by 13.5% from 2013, to UAH 9.744 billion, its net profit grew by 12.97%, to UAH 1.547 billion.

IMF MISSION TO ARRIVE IN UKRAINE ON MAY 12 – NBU GOVERNOR

KYIV. April 30 (Interfax-Ukraine) – A mission of the International Monetary Fund (IMF) will arrive in Ukraine on May 12, 2015, Governor of the National Bank of Ukraine Valeriya Gontareva said at a traditional meeting with bankers.

“Everyone points out that Ukraine demonstrates visible progress in reforming its economy in general and its financial sector in particular,” the NBU press service quoted Gontareva as saying on Wednesday.

According to her, the stabilization on the foreign exchange and deposit markets prepares grounds for the gradual liberalization of the retail deposit market, as well as lifting a number of restrictions on the foreign exchange market.

Ukrainian Finance Minister Natalie Jaresko earlier said an IMF mission for the first review of the Extended Fund Facility (EFF) program, after which Ukraine may be given the second tranche of the program worth SDR 1.182 billion (about $1.63 billion), is expected to arrive in Ukraine late in May.