Indian Prime Minister Narendra Modi has invited Ukrainian President Volodymyr Zelensky to visit India “on a mutually convenient occasion,” the relevant 32nd paragraph concludes the joint statement of Ukraine and India following the prime minister’s visit to Kiev.
“It is quite natural that on such occasions he (Modi) extends an invitation, which he did in this case. So we expect that the moment it suits him, President Zelensky will visit India,” Indian Foreign Minister Subramanyam Jaishankar commented on the invitation at a press briefing in Kiev on Friday.
As reported, Indian Prime Minister Narendra Modi met with Ukrainian President Volodymyr Zelensky in Kiev on Friday. This is the first visit of an Indian prime minister to Ukraine since the latter gained independence in 1991.
On August 21, 2024, the American Chamber of Commerce in Ukraine (AmCham Ukraine) held a reception in Kyiv to celebrate Ukraine’s Independence Day. The event brought together AmCham members, diplomats, and business representatives, becoming an important event in the capital’s business life.
The event began with greetings from AmCham leadership. AmCham President Andy Hunder emphasized the importance of partnership between Ukraine and the United States and expressed confidence in further development of bilateral economic relations. Special attention was paid to the challenges facing Ukrainian business in the context of the ongoing war and global economic instability.
Today, AmCham Ukraine unites over 600 member companies, making it one of the largest and most influential business associations in Ukraine. To effectively protect business interests and address key issues in various sectors of the economy, the Chamber has 24 specialized committees covering such areas as finance, IT, healthcare, agribusiness, and others.
AmCham Ukraine’s Board of Directors plays an important role in managing the organization, providing strategic recommendations and professional expertise. The Board consists of:
Executive Committee:
Olena Koszarny – Chair of the Board (Horizon Capital)
Arvid Turkner – Vice Chair (EBRD)
Alex McWhorter – Deputy Chairman of the Board (Citi Ukraine)
Sergiy Martynchuk – Treasurer (Cisco)
Sergiy Chorny – Legal Counsel and Secretary (Baker McKenzie)
Directors:
Yulia Badritdinova – General Director, McDonald’s Ukraine
Vasyl Bovdilov – General Director, Unilever Ukraine
Mikhail Bubnov – CEO, Schneider Electric Ukraine
Oleg Khaidakin – CEO, Carlsberg Ukraine
Michael Kharenko – Partner, Sayenko Kharenko
Leonid Polupan – CEO, Microsoft Ukraine
Petro Rondiyak – Chairman of the Board of Directors, Winner Group Ukraine
Andrzej Ruzicki – CEO, Bunge Ukraine
Olena Sereda – Director of Corporate Affairs and Legal Affairs, Coca-Cola Ukraine
Andriy Tsymbal – CEO, KPMG Ukraine
Vasyl Varvaroi – General Director, Cargill Ukraine
The reception, organized by the American Chamber of Commerce in Ukraine, demonstrated the unity and commitment of Ukrainian business to develop in the face of global challenges. The event once again emphasized the importance of international partnership and AmCham Ukraine’s role in supporting economic stability and growth in the country.
Interfax-Ukraine is a member of the American Chamber of Commerce in Ukraine and an official service provider of AmCham Ukraine.
Total allocated reinsurance capital grew 7% in 2023, to $568 billion, and is forecast to grow even more to $625 billion for 2024, according to the Reinsurance News website, citing a report from credit rating agency AM Best.
According to the report, traditional reinsurance capital increased 14% year-on-year in 2023, by about $57bn to $468bn.
According to AM Best, apart from Berkshire Hathaway National Indemnity, the most significant capital growth came from Bermuda, thanks to strong operating profits reported by various Bermudian companies.
AM Best forecasts for 2024 traditional reinsurance capital growth of 10% to $515 billion, while third party capital is expected to be between $105 billion and $110 billion.
Thus, total allocated reinsurance capital at the end of 2024 is estimated at $620 billion to $625 billion, and AM Best analysts expect this market to continue to thrive through 2024.
Guardian Insurance Company (Kyiv) has developed a new insurance product, Guardian CASCO, covering military risks up to 100% of the vehicle’s value, according to the insurer’s website.
According to the terms of the insurance product, any type of vehicle, including electric vehicles, up to five years old and costing from UAH 1 million to UAH 10 million, is subject to insurance. The deductible is 0% for all risks. The insurance rate ranges from 3% to 4.2% (depending on the selected conditions).
The program covers standard insurance risks: Road traffic accident; fire; natural disaster; natural phenomena; illegal actions of third parties; other accidental events; illegal possession, as well as war risks: damage/destruction of the vehicle as a result of military operations due to the use of weapons, including unmanned aerial vehicles of any type and/or their wreckage, air defense equipment and/or ammunition on the territory of Ukraine in areas where military (combat) operations are not underway and are not under temporary occupation.
As an additional bonus, additional coverage is provided, in particular: gross violations of traffic rules, damage during evacuation – up to 5% of the sum insured once during the term of the contract.
The program does not impose age restrictions on drivers authorized to drive a vehicle. It is possible to pay the insurance premium in one lump sum or in installments.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. In January 2020, it received the status of a full member of the MTIBU and is entitled to sell Green Card policies.
Starting Monday, August 25, Ukraine may return to exporting electricity during daytime hours when the power system has a surplus, NPC Ukrenergo reported on Telegram.
According to the company, this is facilitated by a decrease in heat and, as a result, electricity consumption, as well as the early completion of the scheduled repair of one of the units of nuclear power plants. At the same time, solar power plants are actively operating during the daytime.
Ukrenergo reminded that in order to avoid accidents, the power system must operate in a balanced manner – the amount of energy produced every minute must correspond to the amount of consumed resource.
“Given the economic inexpediency of limiting the operation of solar power plants, starting from August 25, Ukraine plans to resume electricity exports to neighboring countries. Tomorrow, an auction will be held for access to interstate crossings in the directions of Romania, Hungary and Moldova,” the NPC said.
Electricity will be exported exclusively during the period of surplus – during the active operation of SPPs. During periods of maximum consumption, when there is not enough capacity in the power system, electricity will not be exported from Ukraine.
Source: https://interfax.com.ua/
Moldovan authorities plan to complete a feasibility study by the end of 2024 on the construction of the country’s first multimodal logistics complex at the Beresti railway station in Ungheni (5 km from the border with Romania), the Moldovan Ministry of Economy said. The project is being implemented with technical support from USAID under the Institutional and Structural Reforms in Moldova program. Once the feasibility study is finalized, a tender to find an investor will be announced.
“The ambitious project includes rail and road access roads, container cranes, loading and unloading platforms, warehouses, and a fleet of trucks. It is estimated that the infrastructure will be able to handle up to 200,000 trucks annually, with cargo transshipment of about 4 million tons. Beresti terminal will become a regional logistics hub, integrating Moldova into the global transportation and logistics network,” the report says.
Currently, the main carriers from the East and West prefer to choose routes bypassing Moldova due to the lack of logistics infrastructure.
Beresti railway station is located 106 km from Chisinau, outside the city of Ungheni on the northern side, on the railway corridor that goes to the city of Balti and continues further to the border with Ukraine. The strategic location of the station is due to the proximity of the Romanian/EU border (5 km), as well as the connection to numerous industrial facilities and transportation routes.
The Beresti terminal site covers an area of 80 hectares, is owned by the state and managed by the State Enterprise “Railways of Moldova”. The site’s railroad tracks allow the use of both wide gauge (1520 mm) and European gauge (1435 mm).
According to Moldovan media, investments in the project are estimated at 30 million euros, the construction of the facility will take 24-30 months.
