http://www.kyivpost.com/news/business/ Business http://www.kyivpost.com/news/business/bus_general/detail/122964/ General Wed, 22 Feb 2012 19:48:01 +0200
It turned out that Gazprom was making space in the Yamal pipeline for gas from the Ukrainian corridor.

With the previous workload of the Nord Stream, Yamal-Europe throughput has risen significantly to almost maximum levels since the middle of last week, an industry source told Interfax.

Now Nord Stream and Yamal together pump more than 114 million cubic meters a day, which is an increase of 50 million cubic meters a day over the quantities supplied via the Yamal pipeline during the same period last year.

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"If the Russian side turned to us, we could have helped European consumers in the situation with a critical reduction in gas supplies, in the same way as we helped Turkey," Naftogaz Deputy CEO Vadym Chuprun said.

The press release notes that under the current contract for natural gas supplies between Naftogaz Ukrainy and Gazprom, the daily consumption of gas is not recorded by Ukraine, while quarterly amounts of gas supplies are determined.

The state holding said that weather conditions in January-February 2012, when most of Europe and Russia saw anomalously low temperatures, had confirmed the importance of Ukrainian underground storage facilities as an integral part of the Ukrainian gas transport system in order to ensure a reliable and uninterrupted supply of natural gas.

Gazprom CEO Alexei Miller said on Wednesday that Ukraine had tapped Russian gas intended for European consumers at the beginning of this year.

He said that abnormally cold temperatures in Europe had caused European consumers to step up their requests for Russian gas supplies.

"However, a significant amount of Russian gas sent to European consumers never got there. On certain days, up to 40 million cubic meters of gas remained on Ukrainian territory," Miller said.

He added that "this inflicted financial and reputational damage on Gazprom."

Ukrainian Energy and Coal Industry Minister Yuriy Boiko said in early February that Gazprom had been moving less gas to Ukraine's eastern borders bound for Kyiv and countries in Europe, as provided for in technical agreements with Russia.

Ukraine entered the 2011-2012 heating period with around 20.4 billion cubic meters (bcm) of gas in underground storage.

At the end of last month, the volume of active gas in Ukrtransgaz storage amounted to about 15 bcm.

With the arrival of severe cold in late January and early February, Ukraine has been pumping more gas out of its underground storage facilities.]]> http://www.kyivpost.com/news/business/bus_general/detail/122949/ General Wed, 22 Feb 2012 16:27:39 +0200
"However, a significant amount of Russian gas sent to European consumers never got there. On certain days, up to 40 million cubic meters of gas remained on Ukrainian territory," Miller said.

He added that "this inflicted financial and reputational damage on Gazprom."

Yesterday a Gazprom source told Interfax that Ukraine took roughly 438.3 million cubic meters (mcm) of gas transiting to Europe during Feb. 1-15.

"Our Ukrainian partners took as much gas from the export pipe as they thought necessary. And they took gas that was destined for European consumers, and our Ukrainian partners knew about this," Miller told the president.

Medvedev pointed out that all cases of unsanctioned tapping of gas have to be pursued. "You naturally, in the context of corporate procedures and the civil law contracts that connect you with Ukraine have to get to the bottom of all of these events," he said.
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Tymchenko added that DTEK also invests about Hr 65 million per year in scientific research and development.

DTEK plans in 2012 to produce about 40 million tonnes of coal.

DTEK was founded to manage energy assets owned by Rinat Akhmetov's System Capital Management (based in Donetsk) in 2005.

The holding has been delegated for the strategic management of System Capital Management's enterprises, which comprise a vertically integrated group of companies for the production and enrichment of coal, as well as electricity production and sales.]]> http://www.kyivpost.com/news/business/bus_general/detail/122940/ General Wed, 22 Feb 2012 15:30:00 +0200
Tigipko said that even if the Stand-By Arrangement with IMF were a failure, Ukraine would be able to find other reserves to support its economy.

"The country has a large amount of reserves, which could be launched [in the event of] a difficult situation, but this could be taken badly both by domestic and foreign investors," he said.

Tigipko said that the IMF's position on the need to increase the price of gas for households and heat supply companies remain unchanged, but the president and the country's government insist on keeping the tariffs at the present level, as effective solutions and programs have not yet been drawn up to help people to cope with a possible increase in the tariffs.

"We're looking for compensators and alternative proposals. We're drawing up such a program with the World Bank," he said.

The World Bank has noted the risk of the termination of the current Stand-By Arrangement (SBA) between Ukraine and the International Monetary Fund.]]> http://www.kyivpost.com/news/business/bus_general/detail/122939/ General Wed, 22 Feb 2012 15:25:34 +0200 Read more here.]]> http://www.kyivpost.com/news/business/bus_general/detail/122935/ General Wed, 22 Feb 2012 14:45:51 +0200
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"If these conditions are met, the problem will be solved," he said.

"There were no artificial impediments at all. [Ukrainian] suspicions and presumptions can be explained with spring vitamin deficiency," he said.

Russian sanitary authorities continue to monitor the quality of Ukrainian cheese, he said. Also, the Federal Health and Consumer Rights Service holds weekly consultations with Ukraine in order to solve the cheese problem.

"A large parcel of documents will be brought today from the plants liable for verification. The verification will start when we receive the documents," Onishchenko said.

In his words, Russia was prepared for the soonest visit to Ukrainian plants for controlling cheese quality.

Only three Ukrainian cheese producers were prohibited from bringing their products to Russia at first. The list was expanded later on.

Onishchenko told Interfax earlier that Ukrainian cheese failed Russian regulations for milk and dairy products.]]> http://www.kyivpost.com/news/business/bus_general/detail/122906/ General Wed, 22 Feb 2012 08:16:04 +0200
Read more here.
]]> http://www.kyivpost.com/news/business/bus_general/detail/122900/ General Wed, 22 Feb 2012 07:05:47 +0200
Read more.]]> http://www.kyivpost.com/news/business/bus_general/detail/122875/ General Tue, 21 Feb 2012 16:24:41 +0200 Read the story here.]]> http://www.kyivpost.com/news/business/bus_general/detail/122861/ General Tue, 21 Feb 2012 14:35:38 +0200
"We have brigades that are ready to move. We'll go when we know what companies to check. We might not go to all of them, if the documents [they submitted] do not satisfy us," Onishchenko said.

He said that Rospotrebnadzor is waiting to check materials from Ukrainian producers that supply cheese to the Russian market.

He said that there is no politics in the "cheese" issue, and Ukrainian officials recognize this.

As reported, three Ukrainian cheese producers were earlier banned from supplying cheese to Russia. Later the list was expanded.]]> http://www.kyivpost.com/news/business/bus_general/detail/122843/ General Tue, 21 Feb 2012 10:57:46 +0200
Naryshkin said he had discussed the "cheese issue" during his visit to Kyiv.

"The problem is that we have not resolved or synchronized issues surrounding technical regulations and quality standards. Today we have agreed that we need to determine sensitive products and sensitive commodities that have been playing a big role in our bilateral trade within the shortest period of time, as well as urgently take measures to tackle issues linked to quality standards and technical regulations for these commodities," he said.]]> http://www.kyivpost.com/news/business/bus_general/detail/122838/ General Tue, 21 Feb 2012 09:57:42 +0200
The Russian Energy Ministry has already forwarded the new draft agreement, "which could help fully resolve this issue" to Kyiv, he said.

Gas is an economic topic, Naryshkin said, accusing some political figures and analysts of attempting to persuade the public that this issue is political.

"I sincerely regret that some politicians, economists, experts and journalists are persuading both themselves and others that it is a purely political topic. This issue is certainly economic, but discussions on it involve political figures as well, including the heads of our states," he said.

There is every ground today to hope to find a solution to it as a result of gas talks because this is the goal of regular consultations and meetings under way between Ukraine and Russia, he said.]]> http://www.kyivpost.com/news/business/bus_general/detail/122837/ General Tue, 21 Feb 2012 09:48:08 +0200
Ukraine's Agriculture Ministry is "work-shy," he said. Rospotrebnadzor has sent a list of documents to it, but it has not received a reply. The list has therefore been posted on the website so producers will be able to contact Rospotrebnadzor directly, Onishchenko said.

Asked by Interfax whether Russia would further curb cheese imports from Ukraine, he said, "We will, if the cheese is of poor quality."]]> http://www.kyivpost.com/news/business/bus_general/detail/122831/ General Tue, 21 Feb 2012 07:38:54 +0200
Read more.]]> http://www.kyivpost.com/news/business/bus_general/detail/122830/ General Tue, 21 Feb 2012 07:24:24 +0200
Read more.]]> http://www.kyivpost.com/news/business/bus_general/detail/122828/ General Tue, 21 Feb 2012 07:06:53 +0200
Read more here.]]> http://www.kyivpost.com/news/business/bus_general/detail/122819/ General Mon, 20 Feb 2012 19:37:21 +0200
Naryshkin is in Kyiv on his first working trip to Ukraine since taking over as State Duma Speaker.

The Customs Union currently comprises Russia, Belarus and Kazakhstan.

Naryshkin emphasized that joining or not joining the Customs Union is "a sovereign matter for any country".

Neither Russia, nor Kazakhstan, nor Belarus are pressing any of the countries into joining the Customs Union, he said.

The "integration effect" for the Customs Union's current "troika" may reach an estimated $900 billion over 20 years.

"And if Ukraine joins in, the effect will be $1.1 trillion," Naryshkin said.]]> http://www.kyivpost.com/news/business/bus_general/detail/122806/ General Mon, 20 Feb 2012 17:17:48 +0200
"The Energy Ministry has handed over to the Ukrainian side a new draft treaty to be discussed during future consultations and talks," the speaker said.

The gas issue was touched upon during his meetings with Ukrainian officials, he said.

On Monday, Naryshkin met Ukrainian President Viktor Yanukovych, Prime Minister Mykola Azarov, National Security and Defense Council head Andriy Kliuyev and Verkhovna Rada Speaker Volodymyr Lytvyn.]]> http://www.kyivpost.com/news/business/bus_general/detail/122805/ General Mon, 20 Feb 2012 17:03:37 +0200
“We have had an office in the Ukraine since 1996. Since we opened in Kyiv has grown to become a vital centre for multinational companies who are sending their employees around the world, especially for scientific, technology and engineering.”

Interdean is part of the Santa Fe Group, one of the world’s largest global relocation companies. The company specialises in providing services around the world that helps people to relocate around the world. This includes helping families with immigration, finding them a home overseas, a school for their children, moving their household goods and settling-in. Last year, the Santa Fe Group relocated over 110,000 families worldwide.]]> http://www.kyivpost.com/news/business/bus_general/detail/122799/ General Mon, 20 Feb 2012 16:16:56 +0200
Azarov drew Naryshkin's attention to the fact that Ukrainian industry is now paying $560 per 1,000 cubic meters of gas.

"This is a record price, and there's no price like it in Europe," he added.

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He also said he had agreed with Verkhovna Rada Speaker Volodymyr Lytvyn to the ratification of the agreement on border crossing by residents of border territories in Russia and Ukraine.

There is no need to ratify that agreement in Russia, while the Verkhovna Rada will have a ballot on Feb. 22, Naryshkin said.

He said they discussed the opening of information and cultural centers "to broaden bilateral humanitarian cooperation."

Naryshkin noted they did not discuss gas negotiations.

"I do not rule out that the issue may be raised at the meeting with Viktor Fedorovych Yanukovych and Mykola Yanovych Azarov," he said.

CIS leaders signed the free trade zone agreement in St. Petersburg on Oct.18, 2011. CIS prime ministers reached that agreement earlier in the day.]]> http://www.kyivpost.com/news/business/bus_general/detail/122761/ General Mon, 20 Feb 2012 08:53:33 +0200
Read more here.]]> http://www.kyivpost.com/news/business/bus_general/detail/122750/ General Sun, 19 Feb 2012 18:55:58 +0200 http://www.kyivpost.com/news/business/bus_general/detail/122747/ General Sun, 19 Feb 2012 17:15:05 +0200
Winter crops did not sprout on 1.23 million hectares of the 8.4 million hectares that were sown with winter crops for the 2012 harvest, the ministry said, according to Interfax-Ukraine.

Winter rapeseeds were in good shape on 246,000 hectares (32.6 percent of that planted), in a satisfactory state on 253,000 hectares (33.5 percent) and 34 percent of crops were weak on 256,000 hectares.

Citing figures provided by Ukraine’s State Statistics Service, Interfax-Ukraine reported that the country sowed winter grain crops and fodder on 9.4 million hectares, a 1.9 percent increase compared to the previous season. Winter grain crops were sowed on 8.4 million hectares, a 3.8 percent year-on-year increase.]]> http://www.kyivpost.com/news/business/bus_general/detail/122746/ General Sun, 19 Feb 2012 16:08:07 +0200
Kolesnikov stressed that Ukraine would soon replace outdated Soviet-designed passenger trains with new high-speed express trains supplied by South Korea’s Hyundai and domestic producers. Hyundai claims to have already completed construction of the first batch. The faster trains, some of which will start operation before the Euro 2012 football championship that Ukraine is co-hosting with Poland, will sharply cut down travel time between Kyiv and cities such as to about five hours, he said.

Ticket prices, he said, will vary. Purchasing tickets for a Kyiv-Lviv train in advance, for example, will cost about Hr 250. Purchase them on the day of departure will cost Hr 280, Interfax-Ukraine reported citing Kolesnikov.]]> http://www.kyivpost.com/news/business/bus_general/detail/122741/ General Sun, 19 Feb 2012 13:00:54 +0200 http://www.kyivpost.com/news/business/bus_general/detail/122738/ General Sun, 19 Feb 2012 10:09:56 +0200
SABMiller acquired a nearly 100 percent stake in the business back in 2008, when it was called Sarmat and owned by Ukraine’s richest man, Rinat Akhmetov.

The company sells beer under the Sarmat and Zhygulivske, Zolotaya Bochka, Velkopopovicky Kozel and Amsterdam Mariner brands.]]> http://www.kyivpost.com/news/business/bus_general/detail/122723/ General Sat, 18 Feb 2012 18:09:22 +0200 Ukraine's State Tax Service announced that tax collections had increased by nearly 40 percent in 2011.

According to the State Statistics Service, about 64 percentof domestic enterprises earned a profit, a combined Hr 212 billion, which is 29.3 percentup compared to 2010.

It was not immediately clear what accounted for such a sharp increase in profits by companies. However, days earlier the head of Ukraine's State Tax Service had claimed that his agency had worked hard to reduce the size of Ukraine's vast shadow economy, estimated in prior years at about 50 percent.

However, some 36 percentof companies in the country reported losses. Their cumulative losses in 2011 grew by 1.4 percent in year-on-year terms to Hr 99 billion.




Company profits and losses in 2011

	Pretax profit from activities in 2011, million UAH	Companies with profit, million UAH	Companies with profit, % to 2010	Companies with losses, million UAH	Companies with losses, % to 2010	Number of companies with loss in 2011, %	Number of companies with loss in 2010, %
Total¹	112,930.3	212,278.1	129.3	99,347.8	101.4	36.0	41.0
including
Agriculture, hunting and forestry	14,703.3	17,691.0	94.1	2,987.7	99.0	14.9	29.6
Industry:	64,656.3	106,026.8	163.3	41,370.5	111.9	40.8	40.8
Construction	–848.5	1,899.0	91.2	2,747.5	104.8	41.8	43.9
Trade; car, household appliances and consumer goods servicing	16,179.0	31,242.3	136.8	15,063.3	90.1	34.2	37.6
Car and motorcycle trade and servicing	1,270.9	3,155.2	136.7	1,884.3	78.5	39.7	42.4
Wholesale trade and intermediary services	14,702.7	25,510.1	147.0	10,807.4	93.9	33.4	38.2
Retail trade; household appliances and consumer goods servicing	205.4	2,577.0	81.2	2,371.6	84.3	33.3	33.2
Hotel and restaurant activities	21.6	606.8	120.6	585.2	78.6	38.2	42.7
Transport and communications	14,075.5	20,017.0	131.6	5,941.5	107.9	41.5	44.2
Financial activities	10,907.3	26,484.8	97.5	15,577.5	78.6	32.1	40.2
Real estate transactions, leasing, engineering, services to businessmen	–4,232.6	7,420.9	64.0	11,653.5	124.2	37.5	45.8
Education	58.3	89.4	79.5	31.1	148.8	27.3	35.3
Health case and social aid	69.4	293.6	91.5	224.2	133.7	34.0	38.7
Municipal and personal services, culture and sports	–2,631.5	488.9	86.7	3,120.4	104.7	49.7	45.3

¹- data does not include small companies

Source: State Statistics Service

Profits and losses of industrial companies in 2011

	Pretax profit from activities in Jan-Nov 2011, million UAH	Companies with profit, million UAH	Companies with profit, % to 2010	Companies with losses, million UAH	Companies with losses, % to 2010	Number of companies with loss in 2011, %	Number of companies with loss in 2010, %
Industry1	64,656.3	106,026.8	163.3	41,370.5	111.9	40.8	40.8
Mining	39,878.4	47,726.6	189.7	7,848.2	149.1	47.9	53.5
Fuel and energy minerals extraction	5,927.9	13,049.6	175.1	7,121.7	153.5	51.2	53.5
Minerals extraction apart from fuel and energy minerals	33,950.5	34,677.0	195.8	726.5	116.1	45.6	53.5
Processing industry	11,845.1	40,356.5	125.7	2,8511.4	108.3	38.5	39.3
Including
Food, beverage and tobacco industry	5,733.4	9,792.4	96.7	4,059.0	82.6	43.9	39.6
Light industry	145.9	411.2	116.5	265.3	99.7	38.5	37.1
Textile, clothes and fur industry	64.5	274.6	102.9	210.1	90.0	40.4	37.9
Leather production	81.4	136.6	158.5	55.2	169.3	30.8	31.8
Timber processing apart from furniture industry	158.5	269.7	95.3	111.2	30.6	34.7	39.1
Pulp and paper industry, publishing activities	794.9	1,525.8	84.6	730.9	130.7	35.9	35.5
Coke and fuel production	–1,955.1	503.3	86.3	2,458.4	121.8	47.8	45.9
Chemical and oil-fuel chemical industry	–300.2	3,322.8	158.9	3,623.0	99.9	35.3	39.3
Chemical industry	–268.0	2,799.7	183.4	3,067.7	105.3	37.1	38.5
Rubber and plastic industry	–32.2	523.1	92.6	555.3	77.8	33.8	39.9
Other mineral industry	308.6	1,526.6	105.6	1,218.0	70.2	48.6	48.9
Steel industry	–3,609.7	9,272.8	194.0	1,2882.5	137.0	39.3	41.6
Engineering	10,085.3	13,061.9	128.5	2,976.6	93.0	33.4	37.6
Machinery and equipment production	1,935.7	3,196.4	100.4	1,260.7	86.5	36.2	38.2
Electric and optical equipment industry	1,595.3	2,668.6	156.4	1,073.3	154.8	30.0	35.2
Vehicle and transport equipment industry	6,554.3	7,196.9	136.4	642.6	61.2	33.7	45.6
Electricity, gas and water production and distribution	12,932.8	17,943.7	233.7	5,010.9	93.5	59.8	57.3

¹- data does not include small companies

Source: State Statistics Service]]>