Business news from Ukraine

Business news from Ukraine

September 1, short-term rains in Kyiv and across Ukraine

Short-term rains and thunderstorms are expected on the night of August 31 in the western, Zhytomyr, Vinnytsia and Odesa regions, during the day – on the Right Bank, in some areas during the day hail and squalls of 15-20 m/s, in the rest of the territory – no precipitation.

According to the Ukrainian Weather Center, the wind will be southeast (in the afternoon in the western regions it will change to west) 5-10 m/s.

The temperature at night will be 16-21, up to 23 on the coast, 12-17 in the eastern and northeastern regions; during the day 26-31°, up to 35° in the southeast, 20-25° in the western regions; in the Carpathians at night 10-15°, 13-18° during the day.

In Kyiv, on August 31, no precipitation at night, short-term rain and thunderstorm in the afternoon. Southeast wind, 5-10 m/s. The temperature at night will be 18-20°, during the day 28-30°.

According to the data of the Borys Sreznevsky Central Geophysical Observatory. For the entire period of meteorological observations on August 31, the highest daytime temperature was recorded at +35.6° in 1890, and the lowest at +5.4° in 1966.

On Friday, September 1, there will be short-term rains throughout Ukraine, sometimes thunderstorms, only at night in the eastern, southeastern, and most of the western, Zhytomyr, Vinnytsia, and Kyiv regions without precipitation.

West, northwest wind, 5-10 m/s. Temperature at night will be 15-20°, up to 23° on the coast, 11-16° in the western regions; during the day 21-26°, 25-30° in the eastern regions, 18-23° in the western regions.

In Kyiv, on September 1, there will be short-term rain at night. West, northwest wind, 5-10 m/s. The temperature at night will be 18-20°, during the day – 24-26°.

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Ukrgasvydobuvannya entrusted liability insurance to Transmagistral Insurance Company

On August 24, PJSC Ukrgasvydobuvannya (Kyiv) opened a tender for compulsory civil liability insurance of business entities for damage that may be caused by fires and accidents at high-risk facilities, including fire-hazardous facilities and facilities where economic activity may lead to environmental and sanitary-epidemiological accidents.

According to the Prozorro electronic public procurement system, the expected cost of the services is UAH 120,145 thousand, with the lowest price offer from Trnasmasmagistral Insurance Company at UAH 57,009 thousand.

The following insurance companies participated in the tender: Brokbusiness – UAH 58,260 thousand, Promstrakh – UAH 59,459 thousand, Universalna – UAH 59,744 thousand, Mega-Policy and VUSO – UAH 98,635 thousand each, and Krayina – UAH 118,9 thousand.

The companies are waiting for the final decision

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Starting September 1, restaurants in Kyiv will be allowed to work until 23:00

Kyiv’s catering establishments will extend their working hours by one hour to 23:00, Kyiv Mayor Vitali Klitschko said on his Telegram channel on Wednesday. According to him, the decision was made by the Kyiv Defense Council. It will come into force on September 1.

“Representatives of the National Restaurant Association of Ukraine addressed the city authorities with this request. The decision to restrict the operation of establishments until 22:00 was made when the curfew in the capital began at 23:00. Now it starts at 00:00. During a meeting with the city authorities, where they justified the feasibility of such a decision, entrepreneurs emphasized that extending the opening hours of establishments would help improve the economic situation in the capital, create additional jobs, and increase revenues from taxes, fees, and payments to budgets of all levels,” Klitschko wrote.

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State enterprise “Forests of Ukraine” increased budget contributions by a third

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.

VUSO Insurance Company increased collection of insurance premiums by 79%, payments by 99%

From January 1 to June 30, 2023, VUSO Insurance Company (VUSO, Kyiv) received insurance premiums of UAH 1.188 billion, which is 79% more than in the same period in 2022.

According to the insurer’s press release, the largest revenues were for voluntary health insurance and exceeded the figures for the same period last year by 3.2 times – up to UAH 197.2 million, for the Green Card – by half, up to UAH 126.9 million, hull insurance – by 80.5%, up to UAH 301.8 million, MTPL – by 32.4%, up to UAH 159.5 million.

The total amount of travel insurance premiums for this period amounted to UAH 34.8 million.

The company also reports that in the first half of the year it paid UAH 438.7 million (+99%), including UAH 102.7 million (up 4.7 times) for voluntary health insurance, UAH 79 million (twice as much) for Green Card, UAH 78.1 million (+77.43%) for MTPL, and UAH 118.3 million (+31.7%) for hull insurance.

At the same time, the IC emphasized that along with its main activities, it actively provides volunteer support for Ukrainian defenders, purchasing the necessary equipment and vehicles to perform combat missions.

During the reporting period, there were changes in the company’s activities: at the end of March 2023, during the general meeting of VUSO and UASK ASKA, it was decided to join the insurance company ASKA to VUSO and continue to work under a single brand.

VUSO is a Ukrainian company established in 2001. It holds 50 licenses (30 for voluntary and 17 for compulsory insurance).

The company specializes in motor, health, and travel insurance for both corporate clients and individuals. It is a member of the MTIBU, the Nuclear Pool, a participant in the Direct Settlement project, and a member of the National Association of Insurers of Ukraine.

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Ukrainian barley will be exported by 60% by road and rail through Romania

Ukrainian barley in the season-2023 will be 60% exported by road and rail through border crossing points with Romania, the analytical cooperative “Pusk”, established within the framework of the All-Ukrainian Agrarian Rada (UAR), reported.

According to the report, such a decision is explained by the rising cost of freight, as well as the threat of Russian attacks on the infrastructure of the Danube ports.

“Farmers are trying to export barley on their own for the most part. (…) Traders are not too interested in barley trade yet. Rising freight costs create powerful constraints. There is a demand for Ukrainian barley, but the grain is too expensive: for liquidity in river ports the price tag should be 110-$120/ton on terms of CPT, but farmers will not supply at such a low price”, – analysts explained.

According to their information, market participants are afraid of repeated Russian attacks on the infrastructure of the Danube ports. Besides, it is more profitable for agrarians to take barley to the borders than to Reni, particularly to Chop, where the price is $140/ton. Even farmers from the central regions have started to be interested in auto-delivery of barley to Romania – logistics is cheaper, experts added.

They also noted the activity of barley processors on the barley market. Their purchase prices are now 4500-5200 UAH/ton.

“In the first week of September, the conditional prices for barley can grow to $195-202/ton on the basis of DAP Constanta, to $142-147/ton – on the basis of SRT river ports”, – predicted in VAR.

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