Mining and Metallurgical Group “Metinvest” allocated 10 million UAH for the purchase of three medical vehicles for Krivoy Rog, the press service of the company said.
According to the company’s press release, Metinvest together with Kryvyi Rih military administration takes responsibility for provision of food products to vulnerable groups of population, welfare of displaced people and support of medical sphere. Financial support directed by Metinvest to the needs of the city already amounts to UAH 30 mln, the last tranche helped to increase the ambulance fleet.
At the same time, there are over 70 thousand internally displaced people in Kryvyi Rih. At the same time, doctors in the city’s hospitals save the lives of citizens and wounded defenders around the clock, and the issue of increasing the number of ambulances is especially urgent in order to get patients to the operating room in time.
“Metinvest’s help in acquiring an additional number of ambulances will significantly strengthen the mobility of the service,” said Konstantin Murashko, head of the health department of the executive committee of the Krivoy Rog City Council, who is quoted by the press service.
The press release reminds that since the beginning of full-scale war, Metinvest has established regular delivery of aid to Krivoy Rog hospitals. In total, in cooperation with Rinat Akhmetov’s Foundation there were purchases of medical devices, medical equipment and expendable materials for hospitals in Krivoy Rog to the amount of UAH 52 mln.
“Metinvest is a vertically integrated group of mining and metallurgical companies. The group’s enterprises are mainly located in Donetsk, Luhansk, Zaporizhzhya and Dnipropetrovsk regions.
The major shareholders of the holding are SCM Group (71.24%) and Vadim Novinsky’s Smart Holding (23.76%) that manage it jointly.
Metinvest Holding LLC is the management company of Metinvest Group.
The National Bank of Ukraine’s net sales of dollars this week decreased to $295.0mn from $393.9mn a week earlier.
According to the National Bank on its website, it bought $31.5 million from November 7 to 11, which is markedly more than the usual volume of purchases during the war ($7-8 million), while it sold $326.5 million, compared to $410.2 million a week earlier.
On the cash market, the hryvnia weakened by about 0.2 UAH per week, to about UAH 40.55/$1. However, the spread between the buying and selling rates remains narrow.
In October, the volume of interventions of the National Bank amounted to $2.03 billion, compared to $2.75 billion in September, $1.33 billion in August and $1.2 billion in July, and remains much less than in June ($3.96 billion) and May ($3.4 billion).
In total, since the beginning of the year to November 11 inclusive, the NBU bought $3 billion 210.8 million and EUR111.0 million in the market, while it sold $22 billion 244.8 million and EUR1 billion 789.1 million.
Since the beginning of the war the purchase of currency reached $2 billion 553.9 million and EUR111.0 million, while the sale reached $19 billion 474.6 million and EUR1 billion 789.1 million.
Ukraine’s international reserves as of November 1, 2022, according to the NBU, amounted to $25 billion 244.2 million (in equivalent), which is 5.5% more than at the beginning of October.
DTEK Energy Holding within the framework of Rinat Akhmetov’s Steel Front initiative in February-September this year supplied Ukrainian military and medics with over UAH 250 million worth of free electricity.
“Overall, medical and military institutions in Kyiv, Dnipropetrovsk and Donetsk regions received 45.15 million kWh of electricity. This allowed the state budget to save 250 million UAH and direct these funds to the urgent needs of the defense,” the holding said in a release on Friday.
According to it, more than 100 state and municipal medical institutions, as well as military and security agencies are provided with free electricity.
In particular, electricity is provided to Dnipropetrovsk Regional Clinical Hospital named after I.I. Mechnikov, Dnipropetrovsk Regional Children’s Clinical Hospital, Kyiv City Clinical Hospital № 8, and others.
DTEK’s press service clarified to Energoreform that supplies of free electricity continue.
The company noted that since the beginning of the war, SCM businesses, which includes DTEK, have sent more than UAH 3 billion to help Ukraine and Ukrainians, including as part of the Rinat Akhmetov Steel Front military initiative, in particular, over 150,000 bulletproof vests, over two thousand drones and radios, 700 cars, 0.5 million liters of fuel and others were made and transferred.
International agricultural research company Corteva Agriscience in the three quarters of 2022 increased sales of seeds and plant protection products (PPP) on the Ukrainian market by 6.5% compared to the same period last year, while its profit increased by 5%.
According to the company representatives during the online event devoted to the results of its work for the nine months of this year, the global revenue of Corteva from sales of seeds and pesticides for this period increased by 16% up to more than $ 14 billion, mainly due to an increase in sales in the segment of innovative technologies.
“The main factors of success in Ukraine were the solid work of the Corteva team, which resumed its activities on March 7 after the full-scale invasion of Russia, and the direct work with Ukrainian agricultural producers, in particular through direct sales of Pioneer brand products, which allowed the company to increase its market share in the seeds segment. This was also due to early sales in the season, which began in September 2021,” – stated in a press release of the agricultural company.
According to it, Ukrainian agricultural producers in the unprecedentedly difficult conditions of the war with Russia need help from major international companies, which is extremely important and should be focused precisely on protecting the interests of Ukraine.
“Adhering to the highest value of safety of human life, Corteva withdrew from the russian and belarusian markets, despite the significant financial losses associated with this decision. We were unable to continue operations in the aggressor country and reorganized the commercial division in Eastern Europe, which is now centered in Ukraine,” Corteva’s Eastern Europe head Sergey Kharin said during an online meeting.
Corteva also specified that since the beginning of the year it has invested $390 thousand in the construction of a mobile corn receiving line and an underground LPG terminal at its seed plant in Stasi, Poltava region, which allows for stable production. To save energy, the company introduced a flexible work schedule with reduced energy consumption during peak hours, shifting some of the work shifts to nighttime, and using industrial diesel generators.
“Although there has been some reduction in corn acreage on our partners’ fields due to military operations, we have been able to achieve a 15% increase in yields of Pioneer seed hybrids through the implementation of precision farming technology on the fields and additional investments. We expect that by the end of the year export of seeds produced at our plant to the EU countries will increase up to 16 times comparing to the last year,” – said the Director of Corteva Agriscience production complex in Ukraine Oleksiy Turchynov.
Besides, since the beginning of the Russian aggression, the company has been actively helping Ukrainian charitable foundations, public organizations and hospitals. During the war Corteva has financed local initiatives to the tune of over 50 million hryvnias.
Corteva Agriscience is a global agricultural company. It offers agricultural producers comprehensive solutions to maximize crop yields and profitability. It has over 150 research facilities and more than 65 active substances in its portfolio.
Its representative office in Ukraine includes a central office in Kiev, a research center in Lyubartsy village (Kiev region) and a seed production complex opened in 2013 in Stasi village (Poltava region). Investments in the plant over five years amounted to more than $56 mln.
In April 2022, the company decided to leave the Russian market due to full-scale armed aggression.
The National Bank of Ukraine canceled the licenses of six insurers: IC Mega-Garant JSC, IC Benefit ALC, IC Kastodi ALC, PA Europolis PJSC, IC Arma PJSC, IC Dobrobut i protection” and temporarily stopped the licenses for insurance activities of PJSC “IC “Universal policy”.
As stated in the message of the NBU on Friday, July 29, 2022, measures were applied to Mega-Garant, and on September 17, to ODO IC Benefit in the form of a temporary suspension of licenses, as insurers did not comply with mandatory monetary standards.
“The violations were not eliminated within the prescribed period, and the financial condition of Mega-Garant and Benefit remained critically unsatisfactory,” the regulator said.
With regard to Custody, Europolis, Arma, Dobrobut and Zashchita, the NBU explained the cancellation of licenses by establishing the facts of risky activities carried out by insurers.
“Thus, the facts of committing by insurance companies two or more violations of mandatory criteria and norms for capital adequacy and solvency, liquidity, profitability, asset quality and riskiness of operations have been established,” the regulator said.
It is specified that the decisions of the NBU Board in relation to these six were adopted on November 10 and entered into force on November 11.
As for the “Universal Policy”, as indicated by the National Bank, according to the results of the analysis of the statements for 9 months of 2022, it was found that the insurer violates the mandatory solvency and capital adequacy ratio.
“The insurer has a deadline for eliminating violations until December 12, 2022. This decision was made by the Committee for Supervision and Regulation of Non-Banking Financial Services Markets on November 11,” the regulator said in a statement.
The NBU also announced that it imposed a fine on ALC “IC” Arsenal Life “in connection with the establishment of the fact that the insurer carried out unlicensed activities based on the results of an unscheduled inspection.
The decision on the “Universal Policy” comes into force on November 12, on “Arsenal Life” – on November 14.
The insurance portfolio of PJSC IC Universalny Polis is formed by insurance of medical expenses (48.9%), property insurance and financial risks (28.7%). For 9 months of 2022, the insurer collected UAH 50.1 million of insurance payments, of them UAH 42.9 million – from reinsurers, and paid UAH 24.3 million of insurance payments.
IC “Mega-Garant” is included in the banking group of Megabank, which was withdrawn from the market, carried out activities in the non-life segment, including with OSGPO. In the first half of 2022, the insurer collected UAH 50.6 million of insurance payments (of which more than 80% are accounted for by OSGPO) and paid out UAH 9.2 million of insurance claims. The company ranked 21st among the largest companies operating in the OSGPO market, and has a 1.5% market share in terms of insurance premiums for this type of insurance.
ALC “IC” Benefit “formed a portfolio by insuring financial risks, cargo and luggage, land transport. For 9 months of 2022, the insurer collected UAH 1.8 million of insurance payments and paid out UAH 407 thousand of insurance claims.
ALC “IC “Custodi” operated in the non-life segment. The insurance portfolio was formed mainly due to the receipt of insurance premiums from legal entities (59%) and reinsurers (36%). In the structure of premiums for 9 months of 2022, property risks insurance prevailed ( 32%), cargo and luggage insurance (26%), financial risk insurance (24%) The level of payments for 9 months of 2022 was 0.02%: UAH 284 million of insurance payments were collected, of which UAH 101.8 million were from reinsurers , and paid 46 thousand UAH of insurance compensation.
PJSC “PA “Europolis” operated in the non-life segment. The insurance portfolio was formed mainly due to the receipt of insurance premiums from legal entities (76%) and reinsurers (18%). In the structure of premiums for 9 months of 2022, medical expenses insurance prevailed ( 29%), CASCO insurance (26%), cargo and luggage/cargo luggage insurance (25%) The level of payments for 9 months of 2022 was 7%: UAH 8.3 million of insurance payments were collected, of which from reinsurers – 1.5 million UAH, and paid 612 thousand UAH of insurance compensation.
PJSC IC “Arma” carried out activities in the non-life segment. The insurance portfolio was formed due to the receipt of insurance premiums from legal entities (82%), domestic reinsurance (18%), by types of railway transport insurance (52.5%), cargo and luggage insurance (14.0%), property insurance (12 .6%), CASCO (9.1%). For 9 months of 2022, the insurer collected UAH 79.1 million of insurance payments, of which UAH 13.9 million from reinsurers, and paid UAH 458.7 thousand of insurance claims.
ALC “IC “Dobrobut and Protection” carried out activities in the non-life segment. The largest volume of payments in the portfolio falls on property risks insurance (55%) and third party liability insurance (22%). For 9 months of 2022, the insurer collected 202, UAH 5 million of insurance payments, of which from reinsurers – UAH 130.4 million and paid UAH 109.6 thousand of insurance payments
Gold prices are rising in trading on Friday, continuing to rise after rising to the highest since August the day before.
Market is supported by hopes for a possible slowdown in the pace of tightening of monetary policy by the U.S. Federal Reserve (Fed) in December, which put pressure on the dynamics of the dollar, writes MarketWatch.
Prices of December contracts for gold on the New York Mercantile Exchange (NYMEX) rose by 0.46% to $ 1761.7 per troy ounce by 16:39 kcd. Gold is near its highest level since August.
The ICE U.S. Dollar index, which tracks the dollar’s performance against six major world currencies, is down about 1% in trading. The day before it was down 2 percent.
As it became known on Thursday, consumer prices (CPI) in the United States rose by 7.7% in October against the same month last year after an increase of 8.2% in September. Thus, inflation slowed to its lowest since January and was well below market forecasts.
The data may affect the policy of the U.S. Federal Reserve (Fed), which is aggressively raising interest rates in an attempt to curb inflation.
At the same time, prices for other precious metals showed no unified dynamics on Friday.
Silver for December delivery was down 1 percent at $21.5 an ounce.
Palladium prices rose 2.7% to $2007.5 an ounce and platinum fell 0.5% to $1049.3 an ounce.
