Business news from Ukraine

Business news from Ukraine

IC ARX insured Oceanman Kyiv 2023 athletes

The insurance company ARX (Kiev) acted as the insurance partner of the international swimming competition Oceanman Kyiv Kyiv 2023, the first international swimming tournament, which will be held in Kiev since the beginning of the full-scale invasion.
According to the press release of the insurer, the open water swimming competition Oceanman Kyiv Kyiv 2023 will take place on July 15-16, 2023.
Apart from the endurance races – 10, 5, 2 km – there will be a separate charitable 500 m swim, all proceeds from which will be used to purchase a car for the 126th TRO team. The competition program also includes a children’s 500m swim and 3x500m (relay).
It is also noted that ARX insures the participants against accidents and injuries (insurance coverage is up to 100 thousand UAH). 50% of all fees from registrations will be sent to purchase of sports equipment for children and youth sports schools in Kiev. The competitions are supported and promoted by the department of youth and sport of KSCA.
ARX insurance company is the leader of the Ukrainian insurance market, the representative of the Canadian international insurance holding Fairfax. It has been working in Ukrainian market for 27 years. It offers a wide spectrum of insurance services.
As it was informed, ARX insured OCEANMAN Odesa participants against accidents and injuries in 2021.

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Change in consumer prices in April 2023

Change in consumer prices in April 2023

Source: Open4Business.com.ua and experts.news

2022-2024 goods trade balance forecast (USD bln)

2022-2024 goods trade balance forecast (USD bln)

Source: Open4Business.com.ua and experts.news

“Carton and Paper Company” increased production volume by 30%

In January-May 2023, the Carton and Paper Company (Lviv), a major Ukrainian manufacturer of carton sleeves and sanitary products, increased its output by 29.9% in comparison with the same period of 2022 – up to UAH 524.47 million.
According to statistics from association “UkrPapir” given to agency “Interfax-Ukraine”, in volume terms, the company increased the output of cardboard products by 8.8% – to 11.4 thousand tons, and paper-base for sanitary products has slightly decreased – to 2.8 thousand tons. Production of toilet paper in rolls increased by 28% to 2.3 million pieces.
The Company increased its paper and paperboard output by 2.6% to 3.1 thousand tons in May compared to the same month in 2022.
“Cardboard and Paper Company” (until 2011 – “Lvivkartonoplast”) produces products and semi-finished products of waste paper (cardboard sheets, corners, sleeves), pulp and recycled waste paper (toilet paper, towels, napkins TM Papero).
The products are exported to 23 countries.
As it was reported, in 2022 the factory, without stopping the work during the year, has increased the volume of marketable output by 51,5% compared to 2021 – up to 1 billion 186 million UAH. Net profit tripled to 263.7 mln hryvnia.

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Import changes in % to previous period in 2022-2023

Import changes in % to previous period in 2022-2023

Source: Open4Business.com.ua and experts.news

China increases its own oil and gas production

China increased oil production by 2.7 percent in May compared with the same month last year, to 18.1 million tons, according to the State Statistics Administration of the country.
Refining output soared 15.4 percent last month to 62 million tons, the second-highest total ever recorded. This was due, among other things, to the completion of scheduled maintenance work at a number of refineries.
Natural gas production in China in May increased by 7.2% and reached 19 billion cubic meters, since the beginning of this year – by 5.3% to 97.3 billion cubic meters.
Oil imports last month totaled 51.44 million tons, up 12.2 percent from the same month a year earlier, customs said. Gas imports rose 17.3% to 10.64 million tons, the highest since January 2022.

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