Microsoft will provide Ukraine’s critical infrastructure and other state-important sectors with $100 million in technological assistance by the end of 2023, Microsoft Vice President Brad Smith said during a meeting with Deputy Prime Minister Mikhail Fedorov on Thursday.
“Thanks to technical assistance, government agencies, critical infrastructure and other sectors in Ukraine will continue to use digital infrastructure for free and work in the Microsoft cloud. The company will also help with the curation and implementation of Ukraine’s digital sectors, such as cyber, litigation, customs, medicine and education,” according to the message of the Ministry of Digital Development in the Telegram channel.
Fedorov noted that Microsoft was one of the first companies to suspend all new sales of products and services in Russia in early March.
“During this time, Ukraine has received more than $400 million in support. In addition to free services, Microsoft supports Ukraine in the field of cyber, donates humanitarian aid and cooperates with the Ukrainian government to document the war crimes of the Russian invaders,” the Deputy Prime Minister said.
The insurance company “Knyazha Vienna Insurance Group” (Kyiv) in January-September 2022 collected UAH 866.8 million of insurance payments, which is 10.62% more than in the same period a year earlier, according to the website of the Standard-Rating rating agency “, which confirmed the financial strength/credit rating of the company at the level of “uaAA +” for the first 9 months.
Receipts from individuals increased by 17.66% to UAH 638.029 million, and from reinsurers – by 55.13% to UAH 771 thousand. At the end of nine months of 2022, the share of individuals in the company’s gross premiums was 73.61%, and the share of reinsurers was 0.09%.
Insurance payments sent to reinsurers for 9 months of 2022 compared to the same period in 2021 increased by 39.28% to UAH 289.784 million. Thus, the coefficient of participation of reinsurance companies in insurance premiums increased by 6.88 percentage points. up to 33.43%.
Net premiums increased by 0.25% to UAH 576.970 million, while earned premiums increased by 13.50% to UAH 586.665 million.
The volume of insurance payments and indemnities for the nine months of 2022 compared to the same period in 2021 decreased by 3.46% to UAH 285.393 million. Thus, the level of payments decreased by 4.80 p.p. up to 32.93%.
The financial result from operating activities for the nine months of 2022 compared to the same period in 2021 increased by 81.15% and amounted to UAH 44.649 million, while net profit increased by 39.19% to UAH 68.087 million.
•The company’s assets as of September 30, 2022 increased by 18.40% to UAH 1.758 billion, equity increased by 17.53% to UAH 417.131 million, liabilities increased by 18.67% to UAH 1.341 billion, cash and equivalents increased 2.43 times to UAH 180.370 million.
At the same time, the RA notes that as of the reporting date, the insurer made financial investments in the amount of UAH 639.752 million, which consisted of government bonds (UAH 537.984 million), as well as deposits in banks with a high credit rating (UAH 101.768 million).
PJSC “IC “Kniazha Viena Insurance Group” is a part of the National Financial Group “Vienna Insurance Group Ukraine” (the main shareholder of which is Vienna Insurance Group AG Wiener Versicherung Gruppe (Austria). The group also includes PJSC “IC “Ukrainian Insurance Group” – 100% , PJSC “SK “Kniazha LIFE Vienna Insurance Group” – 97.8%, LLC “USG Consulting” – 50.7%, LLC “VIG Services of Ukraine” – 78.7%, LLC “Assistant Company” Ukrainian Help Service ” – 100%
At its meeting on November 2, the Swiss Federal Council adopted an action plan to mitigate the impact of the coming winter on the people of Ukraine. Switzerland is providing CHF 100 million in aid, in particular for projects financing the urgent rehabilitation of Ukraine’s energy infrastructure, the press service of the Council has reported.
“Around 18 million people in Ukraine – some 40 per cent of the population – are dependent on aid due to the war. With the onset of winter, this number may rise to 24 million. Over 30 per cent of Ukraine’s energy infrastructure has been damaged. The targeted attacks have left many places without access to drinking water, as well as disrupting power and telecommunications. Ukraine requires additional aid from the international community to deal with this emergency,” the Council said.
In this regard, the Federal Council adopted the Winter Aid Action Plan to support the people of Ukraine. In addition to its existing humanitarian undertaking in Ukraine and the region, including projects to support the urgent rehabilitation of energy infrastructure and alleviate the precarious humanitarian situation. Switzerland is helping Ukrainian energy companies purchase energy sources and spare parts, contributing to the repair of rail fastening systems (for the transport of heavy goods such as grain) and providing humanitarian support to help those worst affected by the war in Ukraine to prepare for winter (replacing windows, providing insulation and food, etc.). Efforts are also under way to determine if Switzerland can supply further relief goods such as generators, pumps or water treatment installations.
The Federal Council will submit a request to Parliament for a supplementary credit of CHF 76 million to cover these lines of action.
The Verkhovna Rada adopted the law “On the State Budget of Ukraine for 2023”, said MP Yaroslav Zheleznyak (Voice faction). “Parliament adopted the State Budget for 2023 in the second reading and in general,” he wrote in the Telegram channel on Thursday. According to Zheleznyak, 295 people’s deputies supported the budget for the next year, 35 abstained, and no one voted against.
The votes were distributed as follows: the Servant of the People faction – 211, the Voice – 10, the Platform For Life and Peace groups – 18, For the Future – 15, Trust – 16, Restoration of Ukraine – 15 , non-fractional – 10.
The factions “European Solidarity” and “Fatherland” did not give a single vote in support of the state budget.
“Now we hope that international partners will appreciate our punctuality and fully finance the pledged … deficit of $ 38 billion,” Zheleznyak wrote.
As reported, on November 2, the Parliamentary Budget Committee positively assessed the government’s finalization of the draft state budget of Ukraine for 2023, noted its agreement with the International Monetary Fund and recommended that the Verkhovna Rada adopt it in the second reading and as a whole.
The Committee proposed to increase spending on covering the activities of the Verkhovna Rada by UAH 120 million, on parliamentary control over the observance of constitutional human rights and freedoms – by UAH 96.56 million, on financing the statutory activities of political parties – by UAH 519.39 million, on events related to with the privatization of state property – by UAH 38.5 million.
In addition, it was proposed to additionally allocate UAH 62.76 million to the Specialized Anti-Corruption Prosecutor’s Office and UAH 16.38 million to the National Corruption Prevention Agency, all of this by reducing the Reserve Fund.
The Budget Committee recalled that in the draft state budget finalized for the second reading, revenues were increased by UAH 50.1 billion (or 3.9%), incl. for the general fund – by UAH 26.5 billion; expenses – by UAH 66.8 billion (or 2.7%), incl. for the general fund – by UAH 43.2 billion.
In addition, the deficit in the general fund was expanded by UAH 16.7 billion (or 1.3%) due to the same additional attraction of external financing – up to UAH 1 trillion 442.9 billion in total. “Thus, it is proposed to set the limit of the state budget deficit at the level of 20.6% of the forecast GDP (increased by 0.6 percentage points compared to the draft law submitted for the first reading),” the committee said, noting the significant risks of not receiving such loans.
As the deputies pointed out, the maximum amount of public debt at the end of 2023 was increased to UAH 6 trillion 422.7 billion, which is 102.3% of the forecast GDP (+2.2 percentage points to the bill submitted for the first reading).
When preparing the draft state budget for 2023 for the second reading, the forecast GDP growth was reduced to 3.2% from 4.6% and inflation to 28% from 30%. As a result, the revised forecast of nominal GDP is UAH 6 trillion 279.3 billion instead of UAH 6 trillion 399 billion.
“At the same time, the explanatory note to the finalized bill notes that more optimistic expectations of financial support from international partners, which will help support the balance of payments, led to an adjustment in the assumptions regarding the hryvnia exchange rate against the US dollar at the end of 2023 – UAH 45.8 / $1 (previous forecast – UAH 50 / $1), while its average annual value remains unchanged (forecast – UAH 42.2 / $1),” the committee said.
He added that the forecast of funds transferred by the NBU has been increased by UAH 51.6 billion and it is envisaged that such funds will be credited 50% each to the general and special funds, while in the bill submitted for the first reading – in full to the special fund. This growth made it possible to additionally allocate UAH 16.1 billion to the Fund for the Elimination of the Consequences of Armed Aggression, increased to UAH 35.5 billion.
Among the main changes for the second reading, the committee singled out an increase in pension spending by UAH 38.9 billion; production and broadcasting of television and radio programs for state needs – by UAH 1.4 billion; the judiciary – by UAH 1.3 billion (including the State Judicial Administration – by UAH 1.1 billion, the Supreme Court – by UAH 245.4 million, the High Council of Justice – by UAH 25.5 million), as well as increase in transfers to local budgets – by UAH 2.519 billion, mainly for social and economic development.
In total, revenues in the draft state budget-2023 finalized by the government for the second reading amount to UAH 1 trillion 329.3 billion, incl. for the general fund – UAH 1 trillion 173.1 billion, expenses – UAH 2 trillion 580.7 billion, incl. for the general fund – UAH 2 trillion 296.5 billion, the maximum deficit – UAH 1 trillion 296.5 billion, incl. for the general fund – UAH 1 trillion 124.6 billion.
The living wage is UAH 2589, the minimum wage is UAH 6700.
The General Meeting of Shareholders of PJSC “Ukrainian joint-stock insurance company ASKA” (Zaporozhye) decided to terminate its activities by joining PJSC “Insurance company” VUSO “(Kyiv), according to the company’s information published in the information database of the NSMCC .
It is also specified that PJSC “UASK ASKA” is terminated as a legal entity. PJSC “IC” VUSO “according to the deed of transfer accepts the property, rights and obligations of the company and becomes the legal successor of “UASK ASKA”.
Common and preferred shares of PrJSC “UASK ASKA” are converted into common shares of PrJSC “IC “VUSO”. The placement of shares is carried out by converting shares of “UASK ASKA” into issued shares of PrJSC “IC “VUSO” for this purpose, and their distribution among the shareholders of PrJSC ” UASK ASKA” in the manner and according to the share conversion ratio specified in the Accession Agreement. The share conversion ratio is 1.0 (one).
As reported, the Antimonopoly Committee of Ukraine at a meeting on August 4, 2022 decided to grant Altituda Closed Non-Diversified Venture Corporate Investment Fund JSC (Kyiv) permission to purchase shares of PJSC Ukrainian Joint-Stock Insurance Company ASKA (Zaporozhye), which will ensure an excess of 50 % of votes in the supreme management body of the company.
Earlier, ZNVKF Altituda announced its intention to acquire 99.592891% of UASK ASKA. It was also specified that at present this fund does not own ASKA shares and has no affiliates. In general, we are talking about the purchase of 18 million 662.091 thousand common shares and 20.03 thousand preferred shares of ASKA.
As reported, at the end of November 2021, the investment company SCM Renata Akhmetova announced that preliminary agreements had been reached on the sale of UJSIC ASKA to shareholders of IC VUSO. On December 22, the National Bank approved Altitude’s purchase of 99.593% of ASKA shares, as well as 62.2156% of shares of PJSC ASKO-Donbas Severny Insurance Company (Druzhkovka, Donetsk region), in which 62.4699% belonged to ASKA.
UASK “ASKA” – the first private insurance company that appeared in independent Ukraine, has been operating for more than 30 years. It was included in the portfolio of the international investment company SCM. On December 22, 2021, the NBU decided to cancel 34 of its insurance licenses based on the application submitted by the company, except for the license for compulsory civil liability insurance of land vehicle owners (OSAGO).
IC “VUSO” was founded in 2001. Currently owns 50 licenses: 34 – for voluntary and 16 – for compulsory types of insurance, represented in all regions of Ukraine.
The Company is a member of MTIBU and UFS, a member of the Direct Loss Settlement Agreement and a member of the Nuclear Insurance Pool. The majority shareholder of the company is JSC “Closed Non-Diversified Venture Corporate Investment Fund “Altituda” (Kyiv).
Another seven ships with 290 thousand tons of agricultural products for countries, Asia and Europe left the Ukrainian ports of Chornomorsk, Odessa and Pivdenny on Thursday, the Ministry of Infrastructure of Ukraine reports.
“In particular, among them are Esentepe with 29,000 tons of sunflower seeds for Oman and Key Knight with 67,000 tons of corn for China,” the agency said on its Facebook page.
In total, since the launch of the first vessel with Ukrainian food, 10 million tons of agricultural products have been exported, and the number of ships that left Ukrainian ports for the countries of Asia, Europe and Africa with food has reached 430.
As reported, in Istanbul on July 22, with the participation of the UN, Ukraine, Turkey and Russia, two documents were signed on the creation, first, for a period of 120 days, of a corridor for the export of grain from three Ukrainian ports: Chernomorskaya, Odessa and Yuzhny. Ukraine set as its goal to export 3 million tons of agricultural products per month as part of the initiative.
After Russia announced on October 29 that it was withdrawing from the “grain initiative” because of an alleged Ukrainian attack on ships in Sevastopol, exports were interrupted for several days, but on October 2 the barriers were finally lifted.
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