Business news from Ukraine

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.

UKRAINE SHOULD CONTINUE REFORMS, EU TO HELP WITH THAT – COMMISSIONER HAHN

KYIV. April 30 (Interfax-Ukraine) – EU Commissioner for European Neighborhood Policy and Enlargement Negotiations Johannes Hahn has said that the EU expects Ukrainian authorities to jointly hold the necessary reforms.

At the International Support for Ukraine Conference in Kyiv on Tuesday, Hahn said that he hoped that Ukrainian President Petro Poroshenko, Prime Minister Arseniy Yatseniuk and the government would continue to execute the plan of reforms.

According to him, the Ukrainian government does a good job under the hardest conditions. He also said that the EU had to help Ukraine make the next most difficult steps and implement the adopted laws to change the political, administrative, trade and economic culture of the country.

Hahn noted the importance of conducting key reforms for the country in order to get long-term advantages.

The only thing that will help to open the potential of the country is reforms, he noted adding that the first steps had already been made, but there was still a lot of work to be done.

UKRAINE’S AVIATION SERVICE HOPES TO LIBERALIZE AIR SPACE WITH US IN JUNE-JULY

KYIV. April 30 (Interfax-Ukraine) – The State Aviation Service of Ukraine hopes that air space with the United States will be liberalized in June or July 2015, Service Head Denys Antoniuk said at the presentation of the Kyiv-Beijing flight by Ukraine International Airlines (UIA, Kyiv).

He said that the service in November 2014 sent the similar proposal to Chinese aviation authorities, although no response has been yet sent.

The service also plans to liberalize air space with Canada: Antoniuk said that the process is in a final stage.

PATIENT ORGANIZATIONS DEMAND HEALTH MINISTRY TO PUNISH THOSE GUILTY IN FAILURE OF DRUG PROCUREMENT VIA INTERNATIONAL ORGANIZATIONS

KYIV. April 30 (Interfax-Ukraine) – Representatives of patient and nongovernmental organizations demand that Health Ministry punishes those persons who are guilty in the failure of conducting drug state procurement via international organizations this year.

“The minister personally made public statements that when the Verkhovna Rada passed bills Nos. 2150 and 2151 on March 19, the function of procurement will be transferred to international organizations in one month and a half. Nevertheless, no step was made in this direction. No bylaw that would have regulated the procurement process has been drawn up,” Board Chairman of Charitable Foundation ‘Patients of Ukraine’ Dmytro Sherembey said at a press conference at Interfax-Ukraine on Wednesday.

Board Chairman of the ‘Anti-Corruption Center’ NGO Vitaliy Shabunin said that if the Health Ministry is not coping with the task, the function should be passed to other structures or persons.

“There are two reasons why the steps on the transfer of state procurement to international organizations are not seen: the first one is professional impropriety of persons from the Health Ministry and the second is a desire to retain previous corrupted schemes. It was not us who came up with the term of one month and a half, and it is not interesting for us at what stage the failure occurred,” he said.

Shabunin said that the delay of the process could be evidence of a desire to hold tenders in the extreme conditions when there is a lack of time and this would allow the corrupted persons to push forward their conditions.