Head of the European Commission Ursula von der Leyen has confirmed the allocation of EUR 18 billion to Ukraine in 2023.
“Last night we were able to agree on 18 billion euros for the year, 1.5 billion every month is a constant flow of funds into the budget,” she said on Tuesday, speaking at the conference “Solidarity with the Ukrainian people,” which is being held on Tuesday in Paris, chaired by French President Emmanuel Macron.
On December 12, companies related to the managers of Kernel agro-industrial group bought Eurobonds of the holding with a total par value of $12.4 mln at a price of 45-46% of the nominal value, Kernel said in a statement on the Warsaw Stock Exchange on Monday evening.
According to it, there were four transactions with Eurobonds maturing in 2024 and a coupon of 6.5% per annum: par value of $2.4 million at 45.75% of par value, par value of $2.5 million (at 46%), par value of $5 million (at 45%), par value of $2.5 million (at 45.55%).
It is specified in the message that deals were made at over-the-counter market.
As earlier reported, in the middle of November the companies, related to “Kernel” management, purchased Eurobonds of the holding with a total par value of $29,43 mln at a price of 45-48% of the nominal value.
According to the annual report of “Kernel” in the middle of this year in the market were eurobonds of the company with maturity in 2024 and the nominal value of $297,314 million with maturity in 2027 and $297,724 million.
“Kernel was the world’s number one producer and exporter of sunflower oil before the war (about 7% of world production) and the largest producer and seller of bottled sunflower oil in Ukraine. In addition, the company was engaged in cultivation of other agricultural products and their realization.
The largest co-owner of Kernel, through Namsen Ltd. is Ukrainian businessman Andrei Verevskyi, with a 39.3% stake.
In FY2022 (July-2021 – June-2022), the holding posted net loss of $41 mln against $506 mln net profit in the previous FY. Its revenue decreased by 5% – to $5.332 bln, while EBITDA decreased 3.7 times – to $220 mln.
Insurers of Ukraine from December 13 will be able to make insurance payments under reinsurance contracts entered into with non-residents, the website of the National Bank of Ukraine informs.
In particular, this applies to payments on the basis of: contracts concluded before February 24, 2022 for documents issued before May 31, 2022, contracts concluded from February 24 to May 31, 2022, if their terms provide coverage for military risks.
At the same time there are clear requirements for the implementation of the relevant operations. Firstly, the non-resident reinsurer concluded a contract of reinsurance should have the financial strength rating, which is not lower than “A3” (Moody’s Investors Service), “A-” (Standard & Poor’s ), “A-” (Fitch Ratings), “A-” (A.M. Best) by the classification of international rating agencies.
Secondly, a Ukrainian insurance company, which carries out reinsurance, should meet a number of requirements, among which: no decision of the NBU on the recognition of the ownership structure of the insurer is not transparent; no decision of the NBU on recognizing the business reputation of the insurer, its owners, managers or key persons as insolvent; compliance with the solvency and capital adequacy ratio and the risk ratio of operations by the insurer.
The NBU notes that in order to obtain confirmation of compliance requirements for further transfer to the servicing bank, the insurer must apply to the NBU.
“Providing the ability to pay foreign currency payments under contracts with non-resident reinsurers will ensure that insurers comply with obligations to clients and international partners arising as of May 31, 2022. This is important to maintain the continuity of the insurance market of the country,” – noted in the message.
The NBU has also settled the issue of payment to non-residents of insurance payments under contracts of reinsurance of aviation risks in respect of aircraft, including those in the lease or leasing, clarified the rules for the implementation of transfers to non-resident reinsurers under international contracts of insurance “Green Card”.
The respective amendments were introduced by NBU regulation No.242 dated December 9, 2022 “On Amendments to the resolution of the Board of the National Bank of Ukraine No.18 dated February 24, 2022”, which shall become effective on December 13, 2022.
Ukraine has invited French utility services operator Suez to join the country’s infrastructure rehabilitation projects.
According to the Ministry of Economy, First Vice Prime Minister Yulia Sviridenko during the meeting with the leadership of the French company discussed opportunities for Suez to participate in the restoration and construction of water supply and wastewater treatment plants, construction of waste treatment plants, as well as restoration of ecological state of lands, water resources and environmental protection.
According to the press service of the Ministry of Economy, the French company is interested in cooperation including within the framework of state-private partnership mechanism.
“Russian aggression has led to significant destruction of Ukraine’s civil infrastructure. There are big problems with water supply in the liberated territories, in the regions where active hostilities took place. This is especially true for the south and east of Ukraine. The amount of work is extremely large, but we will restore everything and hope for Suez’s participation in this work,” Sviridenko noted.
According to her, Ukraine is also interested in the experience and capabilities of the company in the field of waste management.
“Ukraine will develop a green economy on the key principles of the EU. And we strive to ensure that the most advanced technologies existing in the world will be implemented in our country”, – she added.
The Supervisory Board of Alfa Insurance on December 8 terminated the powers of first deputy head of the board Olga Levchenko and board member, deputy sales head Viktor Grek due to early termination of their employment contracts, the insurer said in information posted in the NCSFM database.
It is also specified that Olga Levchenko held this position since May 2019, Viktor Grek since December 2017.
At the same time it is noted that the supervisory board appointed Dmitry Panibratenok to the position of a member of the Board.
As reported, the National Bank of Ukraine on December 5, 2022 applied to PrJSC IC “Alfa Insurance” a measure of influence in the form of temporary suspension of licenses to provide financial services due to non-compliance of the company with the requirements of the Regulations on licensing and registration of financial service providers and the conditions of their activities (…), namely the requirements for business reputation of financial service providers.
Later, the Motor (Transport) Insurance Bureau of Ukraine stated on its website that due to the temporary suspension of a license of IC “Alfa Insurance” for compulsory insurance of civil liability of owners of motor vehicles (MTPL), it lost the right to sign new contracts.
As Ukrainian News earlier reported, IC Alfa Strakhovanije was founded in 2000. It offers a universal portfolio of services, including comprehensive programs to protect the interests of business and a wide range of insurance products for individuals.
Ukrzaliznytsia reported significant delays on a number of trains due to difficult weather conditions near the Polish, Hungarian and Slovak borders.
According to a report in UZ’s Telegram Channel on Monday evening, the biggest delays were recorded for trains:
– No. 716/715 Peremyshl-Kiev (+8:35 hours);
– №706/705 Peremyshl-Kiev (+3:51 hours);
– #32/31 Peremyshl-Zaporizhzhya (+1:20);
– No. 45/46 Kharkiv-Uzhgorod (+ 1:18);
– #90/89 Peremyshl-Kiev (+1:01).
Trains of the Hungarian formation “Zakhon-Chop” and Slovak formation “Kosice-Mukachevo” run with delays within 30 minutes.
