Ultra Alliance Insurance Company PrJSC (formerly Ultra Insurance Company Kyiv) will increase its authorized capital to UAH 48 million by holding an additional issue of UAH 18 million.
According to the information disclosure system of the National Securities and Stock Market Commission, this decision was made by the shareholders during a meeting on August 21.
It is also noted that the issue is planned to be carried out by allocating to the authorized capital of the company the profit received for 2019-2022 in the total amount of UAH 18 million. The issue will be carried out by increasing the nominal value of shares from UAH 1 thousand to UAH 1.6 thousand.
The authorized capital is being increased to comply with the minimum authorized capital requirements for insurance activities in accordance with the provisions of the Law of Ukraine “On Insurance”.
Ultra Alliance Insurance Company was registered in 2004. The authorized capital is UAH 10 million. The company specializes in risk insurance. The ultimate beneficiary is Igor Yankovsky.
The National Rating Agency “Rurik” has assigned the long-term credit rating of the borrower at the level of uaAA of the investment category with the forecast “in development” and the rating of financial reliability (stability) of the insurer at the level of uainsAAA of the investment category.
KP MMP “Mykolaivelectrotrans” on September 1 announced a tender for compulsory insurance of civil liability of owners of land vehicles (OSAGO), according to the system of electronic public procurement Prozorro.
The expected cost of the purchase of services is UAH 334 thousand.
Security of the tender offer is not required.
The deadline for submission of tender offers is September 13.
The state-owned company Forests of Ukraine has transferred UAH 1.1bn more to the state budget for the first 8 months of 2023 than for the same period last year (up 35%). From the profit the company finances programs of assistance to the Armed Forces of Ukraine.
According to the report, another batch of equipment was handed over to the Armed Forces this week: five new L200 pickup trucks and four Ford trucks worth more than 24 million UAH, the company’s press service said.
“Since the beginning of the war, we have provided the AFU with more than 800 units of equipment, the total amount of assistance is more than 1.2 billion UAH. Additionally for tens of millions of hryvnias of aid for different units of the AFU collected by our employees. These are drones, thermal imagers, ammunition, generators, food. 43rd brigade, which has already become almost sponsored by us, this summer we have already transferred equipment worth more than 25 million hryvnias, and we will transfer it again”, – the press service quoted the head of the State Enterprise “Forests of Ukraine” Yuriy Bolokhovets at a meeting with the military in Kyiv Prigorodny forestry.
Since its establishment in December 2022, the State Enterprise “Forests of Ukraine” has not purchased a single vehicle for the administrative staff. Only special equipment for firefighting and forest protection has been purchased. Almost two-thirds of the purchase amount was spent on vehicles then transferred to the military.
“With the profit that remains after taxes, we try to buy what the military needs,” Bolokhovets noted.
He added that the state forestries suffered a lot during the occupation. It is necessary to rebuild forestry premises, but the priority for the company is investment in the development of production and assistance to the AFU.
“Our brigade was established at the beginning of the year and is holding the front in the Kharkiv direction, where it is very hot today. There is a shortage of equipment, and the help of the State Enterprise “Lesov Ukrainy” is very important. We especially appreciate that it is new equipment – it means that it will serve longer and will not need repairs. There is no time for it in the war”, – said the deputy commander of the 43 brigade Andriy Petrov.
The head of the State Enterprise “Forests of Ukraine” also said that the company has started the implementation of a program to support veteran foresters. Participants of those who have returned from the frontline of military operations receive a 20% salary supplement and an annual bonus.
The YouTube channel “Experts Club” has published a new video in which the founder of this think tank, Maksym Urakin, provides his analysis of Ukraine’s macroeconomic indicators and the state of the global economy in the first half of 2023.
Demographic indicators of Ukraine
Speaking about the demographic factor in the development of the Ukrainian economy, the expert cited data from the Opendatabot portal, which shows that the birth rate in the country continues to decline. According to these data, about 97 thousand children were born in the first half of 2023, which is 28% less than in the same period of 2021.
“The birth rate has been declining by about 7% annually since 2013. However, the full-scale war has aggravated the situation, causing the largest crisis in natural population growth. The demography of our country continues to be under pressure due to the current circumstances,” said Maksym Urakin.
According to him, in the first half of 2023, the number of marriages fell by 17% compared to the same period last year, while the number of divorces increased by a third, especially in Kyiv.
Economic recovery
Turning to the macroeconomic sphere, the economist emphasized that the Ukrainian economy has started to show signs of recovery.
“According to the NBU, Ukraine’s economy grew by 18.3% in the second quarter relative to the same period last year. This growth is relative to the period of the greatest decline at the beginning of the war.”, – said the founder of the club of experts.
Nevertheless, Maxim Urakin expressed concerns about the long-term outlook.
“Despite the current positive trend, the main risk for the Ukrainian economy continues to be related to the duration and intensity of the war. This may complicate the recovery, as well as cause problems with inflation and currency exchange rate,” Urakin noted.
According to him, the main negative factors affecting economic activity are a decrease or instability of international aid, as well as possible further destruction of energy infrastructure and problems with electricity supply in the fall and winter period.
Analysis of Ukraine’s foreign trade
Maxim Urakin also drew attention to the factor of growth of the negative balance of foreign trade, which has been noted since the beginning of the war.
“The country’s negative foreign trade balance continues to grow, reaching $9 billion in the first five months of this year, according to Gosstat estimates. This suggests that Ukraine is spending more currency on importing goods than it earns from exporting them. We see a sharp drop in exports of mineral products by 39.3%, ferrous and non-ferrous metals by 21.4%, wood and wood products by 17.7%, machinery products by 18.2%, chemical industry by 21.4% and other industrial goods by 4.1%,” – said the candidate of economic sciences.
However, not all the news in this sphere was pessimistic. Urakin emphasized the growth of food exports by 9.9%, which indicates the potential of the Ukrainian agro-industrial complex, which will probably become one of the main drivers of the country’s economic recovery in the coming years.
As for the balance of foreign trade in services, although still negative, the pace of its reduction gave some grounds for optimism.
“We see that the deficit of foreign trade in services is shrinking, which may indicate a gradual recovery of some service sectors in Ukraine,” the expert concluded.
Ukraine’s financial situation in 2023
However, equally important aspects of the economy, according to the expert, are government debt, international reserves and inflation.
“The country’s public debt continues to increase its volume. By the middle of 2023 he Ukraine approached the mark of 140 billion dollars. At the same time, the International Monetary Fund (IMF) has adjusted its forecasts on the level of the country’s public debt, reducing it from 98.3% of GDP to 88.1% of GDP. Despite this ‘positive’ realistic revision, this level of debt represents a significant burden for the national economy,” Maxim Urakin said.
The main source of financing of Ukraine’s budget, according to the expert, is still related to foreign aid.
“Half of the budget is financed by taxes and fees, while the rest comes from international grants and loans,” he emphasized.
Nevertheless, the country’s international reserves have shown positive dynamics.
“By August this year, Ukraine’s international reserves reached a record $41.72bn, which is 6.9% higher than the previous record. This increase is probably the result of active external financial support,” the analyst said.
As for inflation, it showed a slowdown. “After a record 27% inflation in 2022, this indicator fell to close to 4% in July this year,” Urakin noted.
Thus, the economic situation in Ukraine, according to the founder of the “Experts Club”, continues to be complex and multifaceted, requiring careful monitoring and adaptation of strategies in response to changing conditions.
World economy in 2023: analysis and forecasts
In the last presented studies of the “Experts Club” the economic situation in Ukraine was actively considered, however, according to Maxim Urakin, the dynamics of the world economy also has a significant impact on our country. According to the latest data, the world economy shows stable signs of growth, but there are also certain risks.
“The IMF has recently provided its forecasts for global economic growth. A growth of 3% is forecast for 2023 and the same is expected in 2024. The decisions taken by the US to resolve issues related to the level of public debt, as well as active actions in the US and Swiss banking sectors, have helped to reduce the immediate risks of a crisis in the global financial market. However, as the IMF emphasized, “the balance of risks remains tilted towards a possible deterioration of the economic situation at the global level,” the economist explained.
Inflation continues to be in the center of experts’ attention. Although the IMF lowered its inflation forecast for the current year to 6.8%, expectations for 2024 were adjusted upward.
Based on this information, Maxim Urakin concludes that the global economy is on the way to stabilization, but the situation remains ambiguous due to a number of uncertain factors. It is important for countries and their economies interacting in the global market to monitor changes and prepare for possible challenges.
Economic development in individual countries
According to the founder of the “Experts Club”, the global economy in 2023 is showing mixed results. While some countries are overcoming the effects of the pandemic and are on the path to stable growth, others are facing challenges from internal and external factors.
“The U.S. economy exceeded expectations, posting above-forecast growth. Meanwhile, consumer spending and government spending also showed solid growth, but residential investment continues to decline. China, which is on the road to recovery from the pandemic, showed strong economic growth, although the construction industry continues to experience a crisis. The Eurozone has shown moderate growth, with the region’s largest economy, Germany, facing recession. At the same time, the UK and Japan have positive adjustments to their GDP forecasts. India continues to strengthen its economic position, showing dynamic growth. Meanwhile, Brazil, although showing growth in the current year, expects a decline by 2024,” summarized the expert.
For more details on the situation in the Ukrainian and global economy, see the video on the YouTube channel “Club of Experts” at the link:
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ECONOMICS, EXPERTS CLUB, MACROECONOMICS, REVIEW_OF_ECONOMICS, URAKIN, WORLD_ECONOMY
In the western and northern regions of Ukraine on Sunday, August 27, in some places there will be short-term rain, thunderstorms, in the rest of the country without precipitation.
Wind of variable directions, 3-8 m / s.
Temperature at night will be 16-21°, up to 24° on the coast; during the day 29-34°, in the southwestern regions up to 36°, in the eastern and Sumy regions 26-31°; in the Carpathians at night 11-16°, during the day 23-28°.
In Kyiv, no precipitation on Sunday night, short-term rain during the day. Wind of variable directions, 3-8 m / s. The temperature at night will be around 20°, during the day 30-32°.
According to the Borys Sreznevsky Central Geophysical Observatory. On August 27, the highest daytime temperature in Kyiv was 33.3 in 1943, and the lowest nighttime temperature was 6.4 in 1973.
On Monday, August 28, in Ukraine, except for the eastern regions and Crimea, there will be short-term rain and thunderstorms in some places.
Wind of variable directions, 3-8 m / s. The temperature at night will be 18-23°, during the day 31-36°, in the eastern and northeastern regions 24-29°.
In Kyiv on Monday, in some places there will be short-term rain, thunderstorm. Wind of variable directions, 3-8 m / s. The temperature will be 20-22° at night, 33-35° during the day.
Ukrainian boxer Alexander Usik with the help of technical knockout defeated the British Daniel Dubois and retained the titles of the leading boxing organizations of the planet, reports “Suspilne. Sport”.
Already in the opening round, Dubois missed a jab from Usik with a right hand, which became the main highlight of the first three minutes of the fight.
Another jab from Usik “found” his opponent in the second round. The Ukrainian missed a kick to the thigh, which was signaled by the referee.
The initiative in Wroclaw remained with Usik, who realized his speed advantage over his opponent.
The fight was suspended in the fifth round due to the referee’s recording of Dubois hitting the Ukrainian below the belt. After taking a few minutes to recover, Usik resumed the fight and before the end of the round he delivered one of the most powerful left punches of the evening.
At the equator of the fight Dubois continued to work on his opponent’s body. The seventh round ended with a series of punches from Usik, who briefly pinned the Briton to the ropes.
In the last seconds of the eighth round, Dubois was knocked down for the first time. After a combination of punches from the Ukrainian, the challenger took a knee and managed to get up, after which the bell rang.
The fight was brought to a close by Dubois’ knockdown in the ninth round after a powerful right hand from the Ukrainian. The judge signaled an early knockout in favor of the Ukrainian.
The fight took place in Wroclaw, Poland. Five of Usyk’s belts were at stake, including three major titles (WBA, WBO, IBF) in the heavyweight division.
