Business news from Ukraine

Business news from Ukraine

Club of Experts releases video review of events that will take place in Ukraine and world from Aug 29 to Sept 4

YouTube channel “Club of Experts” – another video review of current events and events for the next week.
The founder of the club of experts Maksim Urakin, together with co-host Olga Levkun, spoke about the main news in Ukraine and the world from August 8 to 14, 2022.
So, in Ukraine, the next week will be quite rich in various events and activities. In particular, it is planned to hold several conferences and round tables dedicated to supporting the economy during the war, the prospects for the development of the banking sector, information security, etc. Such world-famous economists and politicians as Francis Fukuyama, Oliver Hart, Ivan Miklos, Leszek Balcerowicz are expected to speak.
Among the world events next week, one can single out the meetings of the heads of military and diplomatic departments of the EU countries, where Ukrainian representatives will also be present. The main topic of the meetings will be building up support for Ukraine. The publication of up-to-date statistical data by the world’s leading economies is also expected. Among sporting events, the main one is the start of one of the world’s major tennis tournaments – the US Open and EuroBasket 2022, which will be held in four countries at once. More about this on the sports portal sport.ua.
Also next week, several landmark international conferences and exhibitions are expected to take place, including the B-20-G-20 Dialogue in Indonesia and IFA-2022 in Berlin.
Watch these and other events in a new video on the Club of Experts channel at the link:

You can subscribe to the Expert Club channel here – https://www.youtube.com/channel/UC4plQ0XBaoLOKPIXrb1aMGQ

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IAEA chief says IAEA mission is on its way to Zaporozhye NPP

The IAEA mission to support and assist the Zaporozhye NPP is already on its way, said the head of the agency, Rafael Grossi.

“The day has come, the IAEA mission to support and assist the Zaporozhye nuclear power plant is already on its way. We must ensure the safety of the largest nuclear facility in Ukraine and in Europe. I am proud to lead this mission, which will arrive at the ZNPP later this week,” he wrote. Grossi tweeted Monday morning. Earlier, the “Club of Experts” project released a fresh analysis of the events of the week, including the visit of the IAEA mission to Ukraine, see more details here –

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Charity squash tournament will be held in Kyiv

On August 27-28, the charity squash tournament “Zenit Ukraine Open 2022” will be held on the courts of the capital’s fitness center “SPORT LIFE”.

For two days, awards will be drawn in 5 categories among men and women. Players from Romania, USA, Moldova, Lithuania, as well as athletes from Kyiv, Lvov, Kharkov, Dnipro, Khmelnitsky, Poltava, Kherson and Odessa will take part in the competition.

The start of the tournament is scheduled for 10-00 on Saturday, August 28 in the complex “SPORT LIFE” at st. Marshal Konev, 8. The solemn ceremony of awarding the winners will be held on August 29 at 16-00 in the restaurant “OZERO”.

According to the co-organizer of the tournament Maksim Urakin, the tournament is held in Kyiv for the first time due to security reasons.

“For the last 11 years, the tournament has been held in Odessa, and we know it under the name Zenit Black Sea Open. Now, due to the war, we were forced to change traditions and move the venue to Kyiv. At the same time, we plan to return to Odessa courts next year” – Maksim Urakin explained.
According to another organizer, Dmitry Shcherbakov, holding international competitions in Kyiv is now important not only to support Ukrainian sports, but also for the country as a whole.

“We are grateful to all the athletes who responded to the call to participate in the tournament at such a difficult time. This means that Ukrainian sport is alive and winning,” he stressed.

According to the organizers, the funds raised at the tournament will be directed to charity and assistance to Ukraine.

“Zenit Open” is the most famous and largest international squash tournament in the history of independent Ukraine. The scale of the championship is evidenced by the number of countries and participants, as well as a large number of organizations involved in the preparation and holding of the competition.

The main fitness partner of the event is the national network of fitness clubs No. 1 “SPORT LIFE”;

The main organizer of the tournament is “All-Ukrainian Association of Squash Players”;

The main information partner of the tournament is the news agency “Interfax Ukraine”;

The official sponsors were the company “MAXEVENTS” and the analytical center “Club of Experts”;

Partner – Public Association “UKRSADVINPROM”;

Prize fund partners – Eye and VICTOR;

Prizes and gifts from the leading companies Tecnifibre and Reima;

The official water of the tournament is “KRAYNA”;

Official beer of the tournament from TERMOPUB;

Tea Partner – At Market;

Official hotel of the tournament – “FAVOR”;

Party partner restaurant – “OZERO”.

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EBRD to provide Ukrenergo with almost EUR 100 mln loan

The European Bank for Reconstruction and Development (EBRD) will provide transmission system operator NPC Ukrenergo with EUR97.3 million in support of liquidity in the face of Russia’s military aggression.

“The EBRD and the Ukrainian authorities have agreed to change the purpose of the remaining EUR97.3 million from an existing loan to Ukrainian electricity transmission system operator Ukrenergo. The new purpose of the funds is to maintain the company’s liquidity,” the bank said in a press release on Friday.

It clarifies that in this way the bank will repurpose part of the EUR149 million loan provided in 2019 to support liquidity to modernize key elements of the electricity transmission infrastructure in order to support the stable operation of the system and synchronize with European electric networks, as well as to help Ukraine bring its legislation and operating principles in accordance with the requirements of the Third Energy Package of the EU.

“Due to the war, Ukrenergo has urgent liquidity needs, so the company has asked to repurpose the undrawn funds. This liquidity support from the EBRD will ensure the stable operation of the Ukrainian energy system, nuclear and renewable energy generation capacities, as well as the supply of electricity to industrial consumers and population,” the release notes.

The EBRD notes that during the war, the company faced significant customer defaults and a 30% drop in electricity consumption, resulting in a loss of revenue.

At the same time, they specified that up to half of EUR97.3 million would be guaranteed by a sovereign donor from the G7 countries.

The bank noted that the support provided is part of the EUR1 billion investment it promised before the end of the year to support the Ukrainian economy on the terms of risk-sharing with donors and partners.

The release recalls that in May Ukrenergo already received EUR50 million as part of the reassignment of a previously granted loan.

Ukrenergo reported that these funds were used to repay debts in the ancillary services market, and also noted that it was counting on new reprofiling of loans to support liquidity, in particular, to repay debts in the balancing market.

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PRESS LUNCH: The real estate market during the war

Press lunches that help frontline media and business grow.

Guys, we are pleased to announce that we are starting monthly press lunches with business and media to cover and discuss current issues in various areas. And at the same time, we do charity work to help journalists on the front lines.

THE MAIN OBJECTIVE
During the meetings, we will collect funds that can save the life of media worker Dmytro Boguslavsky, who is currently at the front.

WHAT? WHERE? AND WHEN?
On September 8, the first press lunch on the topic of REAL ESTATE will be held.

Start time: 16:00

Will be present:

  • representatives of construction companies
  • construction business owners
  • journalists of well-known mass media interested in real estate

YOU EXACTLY:

  1. can join in helping the media worker on the front line
  2. learn about current trends in the real estate market
  3. you will learn about the prospects of rebuilding Ukrainian cities and providing residents
  4. get to know a large number of Ukrainian developers and media.

So don’t miss the chance, join the press lunch and at the same time help journalist on the front line!

Entrance charity fee for participants:
from UAH 200 (funds will be transferred to the purchase of walkie-talkies for the journalist)

Link to the Bank: DONATE button (https://send.monobank.ua/jar/3EJxh749w2)

In the comments of the donation, please indicate «surname-company-email».

And we also ask you to fill out the registration for the event at the link: https://ua.looqme.io/press-lunch

ORGANISERS:

PR-MARKET
https://prmarket.io

LOOQME
https://www.looqme.io

PRESS ASSOCIATION UA
https://pressassociation.org.ua/ua/

MEDIA PARTNER – INTERFAX

For feedback, write to us in private messages or to these e-mails:

olena.bbk.fls@looqme.io
+380660052352
prmarketukr@gmail.com
+380996612234

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VUSO insurance company shareholders purchased ASKA

Shareholders of the VUSO insurance company completed the purchase of UASK ASKA (operating under the ASKA brand) in order to create a major player in the insurance market with Ukrainian capital.

“Despite the war and what seems like a bad time to invest, we are determined to see our goal of merging the two companies through. We believe in the victory of Ukraine and its future! We hope that Ukrainians and Ukrainian enterprises will continue to use the services of VUSO as a large Ukrainian company. It is symbolic for us that the date of the transaction, as well as the date of the beginning of the association, is August 24 – the Independence Day of our country!

After the transaction is completed, it is planned to merge UASK ASKA and IC VUSO under a single VUSO brand by the end of 2022.

The future merger will increase VUSO’s presence in the corporate insurance segment through ASKA’s longstanding relationships with large corporate clients.

The amount and terms of the deal were not disclosed.

VUSO insurance company has been operating on the Ukrainian market since 2001. According to Insurance TOP, its assets as of December 31, 2022 amounted to UAH 940.5 million, insurance premiums for 12 months of 2021 – UAH 1.719 billion (8th place in the ranking of insurers). Holds 50 licenses: 33 for voluntary and 17 for compulsory types of insurance. The company specializes in motor, medical and travel insurance for private and corporate clients, has more than 30 representative offices throughout Ukraine. He is a Member of the ITIBU (since 07/01/22 – Full Member), the Nuclear Pool, a participant in the Direct Settlement project. Member of the National Association of Insurers of Ukraine. The company has been assigned a financial stability (reliability) rating of uaАА. The shareholders of VUSO are the Altitude Fund, the ultimate beneficiaries are Mikhail Nazarchuk and Alexey Shuba.

UASK ASKA is the first private insurance company that appeared in independent Ukraine and has been operating for over 30 years. It was included in the portfolio of the international investment company SCM.
At the beginning of 2022, ASKA had 2,900 corporate and more than 200,000 private clients throughout Ukraine. He is a member of MTIBU, one of the founders of the Nuclear Pool. The insurer has a license to carry out insurance activities for compulsory insurance of civil liability of car owners (including the Green Card). During its work, ASKA has repeatedly made the largest payments in the history of Ukrainian insurance.

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