China’s total non-financial direct investment (ODI) overseas in 2024 rose 10.5 percent to $143.85 billion, the Ministry of Commerce said. The amount of money invested in states along the Belt and Road rose 5.4 percent to $33.69 billion, Xinhua news agency quoted the ministry as saying.
The number of workers sent abroad last year reached 409,000, up 17.9 percent. As a result, 594,000 Chinese workers were employed abroad at the end of December.
The amount of overseas contracting work performed by Chinese companies rose 3.1% to $165.97 billion.
As reported, China’s total ODI grew 6% through 2023.
State-owned enterprise NAEK Energoatom (Kiev) announced a tender for compulsory motor third party liability insurance for owners of land vehicles (MTPL) on January 28.
As reported in the Prozorro electronic public procurement system, the total expected cost of purchasing the services is UAH 1.591 mln.
The deadline for submitting tender documents is February 5.
Kobzarenko Plant LLC, one of Ukraine’s leading agricultural machinery manufacturers, has exported its products to South America, in particular to Uruguay, the company’s press service reported on Facebook.
“The first export to Uruguay. Two PT-18 baler trucks are heading to a new dealer in the port of Montevideo to serve our customers in South America,” the statement said.
The company assured that it will continue to open new borders and expand opportunities.
“Kobzarenko Plant was founded in 1993 as the Ukrainian-German company Fliegel (renamed Kobzarenko Plant in 2008). The company began its operations with the production of wheelbarrows and carts for households. Today it is a leading Ukrainian manufacturer of tractor trailers, bins, tanks, fertilizer spreaders, etc. As of 2018, the plant employed 700 people.
It has two production workshops and warehouse complexes in Sumy region, as well as a plant in Poland, Kobzarenko Sp. z.o.o., which produces machinery and operates as a service center for launching, maintaining, and adjusting machinery in Europe and Poland.
Kobzarenko Plant LLC exports machinery to 34 countries and has an extensive dealer network. It sells machinery steadily in all European countries. After the outbreak of a full-scale war, the company withdrew from the markets of Russia and Belarus.
In 2024, TAS Insurance Group (Kyiv) collected UAH 4881.3 million in insurance premiums, which is 37.9% more than in 2023.
According to the insurer’s website, motor hull insurance premiums in 2024 amounted to 17.7% of the total, or UAH 864.4 million, which is 19.5% more than in 2023; motor third party liability insurance premiums – 32.13%, or UAH 1568.3 million, which is 36.4% more, and Green Card premiums – 28.6%, or UAH 1395.98 million (+62.9%).
Under voluntary health insurance contracts, TAS Group collected UAH 511.78 million in premiums, which is 32.3% more than in the same period last year and equals 10.48% of the total premiums.
Under property insurance contracts, the company collected UAH 103.88 million of insurance premiums, an increase of 23.1%.
Under other insurance contracts, the company collected UAH 436.93 million in payments (+29%).
Earlier it was reported that in 2024, TAS Insurance Group paid UAH 1.975 billion under the concluded insurance contracts, which is 47.3% more than the amount of the company’s indemnities for 2023.
More than a quarter of the total volume of payments, or 27.3%, accounted for hull insurance – UAH 540 million, which is 34.1% higher than the corresponding figure for the previous year, for MTPL – 32.5%, or UAH 642.3 million (+30.7%), for Green Card – 21.8%, or UAH 430.8 million (+81%).
The share of VHI in the group’s claims portfolio amounted to 14.9%, or UAH 293.6 million (+74.5%) in 2024.
Under property insurance contracts, TAS Group paid UAH 12.92 million (+20.5%) in the reporting period. Other insurance contracts paid UAH 55.7 million (+84.4%).
TAS Insurance Group was registered in 1998. It is a universal company offering more than 80 types of insurance products in various types of voluntary and compulsory insurance. It has an extensive regional network: 28 regional directorates and branches and 450 sales offices throughout Ukraine.
The Supervisory Board of PZU SA on January 27 dismissed Artur Olech from the company’s Management Board, the company announced on its website.
Also, at the same time, a resolution was passed to delegate Andrzej Klesik, a member of the Supervisory Board of PZU SA, to temporarily act as president of the Management Board of PZU SA until the appointment of the president of the Management Board of PZU SA, but for a period not exceeding three months.
Both decrees entered into force upon adoption, the report emphasized.
According to the report, Andrzej Klesik is a graduate of the Catholic University of Lublin, Faculty of Social Sciences, (specializing in economics), and Harvard Business School, where he received an MBA degree. In addition, he has attended numerous training courses abroad related to the financial sector and management, including global training for partners and managing directors of The Boston Consulting Group. He has significant consulting experience in the financial and insurance sectors.
In particular, he has served as President of the Board of Inteligo Financial Services SA., Managing Director of The Boston Consulting Group in Warsaw, Member of the Board of Management of Bankgesellschaft Berlin Polska, President of the Board of Management of PZU SA, Deputy Chairman of the Supervisory Board and Chairman of the Audit Committee at NKBM Maribor, Chairman of the Supervisory Board of Best SA., led the first wave of restructuring of Ethnika, the largest insurance company in Greece, and since 2020 he is Managing Partner at Cornestone Partners, where he is responsible for several portfolio companies.
He also led the IPO of PZU, the largest IPO on the Warsaw Stock Exchange at the time.
PZU Group is one of the largest financial institutions in Poland and Central and Eastern Europe. The Group is led by Powszechny Zakład Ubezpieczeń SA (PZU), a company listed on the Warsaw Stock Exchange (GPW). The beginning of PZU brand traditions is considered to be 1803, when the first insurance company in Poland was founded.
In Ukraine it is represented by insurance companies “PZU Ukraine” and “PZU Ukraine Life Insurance”.
Centravis Production Ukraine (Nikopol, Dnipropetrovska oblast, Ukraine), a part of Centravis Ltd. holding, increased production of seamless stainless pipes by 12.6% in 2024 compared to 2023, to 13.7 thousand tons.
This is almost the same growth rate as in 2023, when the company increased production by 12%, Centravis CEO Yuriy Atanasov said during an online press conference on Tuesday. Centravis exported almost all of its products, with exports totaling 13.7 thousand tons.
“Nikopol district is a unique city. It has difficult working and living conditions. And 2024 was another year of escalating hostilities. A huge number of drones are killing our city, targeting the infrastructure to cut off water and electricity. Our constant priority is to resume work after each attack,” said Atanasov.
At the same time, the CEO drew attention to the inadequate response to the situation at the enterprise: “There are a lot of promises, but no concrete actions. There are no decisions on lending to the company, no one is going to provide a commodity loan.”
“The second issue is booking. No one comes to Nikopol. We have constant demands for mobilization, but 50% booking is not enough. And the last problem is litigation with the authorities, with the tax office, regarding VAT refunds. There are court decisions that the government does not enforce, the state ignores the decisions. There are only promises,” the CEO stated.
He clarified that the company cannot refund more than EUR 6 million of VAT to finance its operations. “At the same time, we increase our production by about 10% annually. And we not only survive in such difficult conditions, but also advance our strategic projects.
The company plans to increase production to 15 thousand tons in 2025.
Centravis CFO Alexander Joseph said that the company invested EUR 3 million in production in 2023, EUR 2 million in 2022, and plans to invest EUR 4 million in 2025.
According to the information note, the top 5 countries consuming Ukrainian seamless pipes made by Centravis are Germany, the United States, Italy, Austria, and Spain. In total, Centravis exported its products to 39 countries, including Oman, South Korea, Australia, Uruguay, etc.
“It takes a lot of work to achieve a positive result, and even more to maintain the growth rate for the second year in a row, especially in such a difficult time as now and not far from the front line. But our team gives 100% and even more. That is why we have such results and continue to grow,” said Centravis CEO.
According to him, in addition to quantitative indicators, the company managed to make many qualitative changes and implement interesting and notable projects last year. In particular, Centravis produced 28 tons of pipes by special order for SpaceX. The company also received an order for seamless pipes for a new hydrogen production plant in Ulsan, South Korea. The company continued cooperation with Ferrari, a sports car manufacturer, and completed several large orders for the US market.
Traditionally, Centravis represented the Ukrainian industry with its own exposition at the international exhibition Adipec in Abu Dhabi.
“We are not resting on our laurels. Our medium-term priorities include increasing the share of innovative products in our portfolio, i.e. those that would be protected by intellectual property rights and effectively solve our customers’ problems. We will continue to work and do our best to help the country survive and preserve opportunities for post-war development,” Atanasov said.
Last year, Centravis paid UAH 564.7 million in taxes and duties, or UAH 16 million more than in the previous year.
As reported, in 2023, Centravis increased its production by 12% to 12.2 thousand tons. More than 98% of its products are exported.
Currently, Centravis is one of the world’s ten largest producers of seamless stainless steel pipes.
“Founded in 2000, Centravis is one of the world’s ten largest producers of seamless stainless steel pipes. Its main production facilities are located in Nikopol (Dnipropetrovska oblast). In 2023, the company opened a branch in Uzhhorod.
Centravis Holding Ltd. was established on the basis of Nikopol Stainless Pipe Plant CJSC, service and trading companies of Production and Commercial Enterprise YUVIS LLC. Its shareholders are members of the Atanasov family. Centravis Ltd. owns 100% of the shares in Centravis Production Ukraine.
