Business news from Ukraine

Business news from Ukraine

INGO RAISES PREMIUM COLLECTION IN UKRAINE

INGO Insurance Company (Kyiv) in January-June 2021 collected more than UAH 966 million in insurance premiums, which is 26% more than in the same period in 2020.
According to the company, in the first half of this year, more than UAH 416.5 million were paid to customers, more than 92,000 insurance events were settled.
The formed insurance reserves of INGO as of June 30, 2021 amounted to more than UAH 1.226 billion, which is 13% more than on the same date a year earlier, the cost of highly liquid assets – UAH 1.929 billion.
The actual solvency margin is UAH 687.1 million, which exceeds the norm by UAH 390.3 million.
The company’s net worth is UAH 32.950 million (more by 5%), the charter capital is UAH 305.543 million.
INGO Insurance Company has more than 25 years of experience in the market. Since 2017, its main shareholder has been DCH business group of Oleksandr Yaroslavsky.
The company has 28 licenses for various types of compulsory and voluntary insurance, and provides insurance services to corporate and retail clients.
INGO is a full member of the Motor (Transport) Insurance Bureau of Ukraine (MTIBU), a member of the American Chamber of Commerce, the European Business Association and the International Chamber of Commerce.

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UKRAINE INCREASES COKE OUTPUT

Ukrainian coke plants in January-July of this year increased the production of metallurgical coke with a 6% moisture content by 2% compared to the same period last year, to 5.749 million tonnes.
The Ukrkoks association of coke and chemical enterprises (Dnipro) told Interfax-Ukraine that in July 826,000 tonnes of coke were produced.
The director general of Ukrkoks, Anatoliy Starovoit, told Interfax-Ukraine that the enterprises continue to work at the request of metallurgical plants, satisfying them with coke in full, taking into account imports.
According to him, coke chemical plants are provided with coking coal for production programs.
According to Ukrkoks, in 2020 coke plants reduced the production of metallurgical coke with a 6% moisture content by 3.9% compared to 2019, to 9.66 million tonnes. The enterprises were supplied with 27.2% of domestic coal and concentrate and 72.8% of imports. In general, 3.618 million tonnes of raw coal and concentrate of domestic production were supplied to the coke plants over the year, some 9.675 million tonnes were imported. In general, 13.293 million tonnes of coal were supplied to the plants, including 5.202 million tonnes imported from the Russian Federation, 3.523 million tonnes from the United States and Canada, 873,300 tonnes from Kazakhstan, and 76,000 tonnes from Poland.

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51,000 CORONAVIRUS VACCINATIONS MADE IN UKRAINE PER DAY

During the day on August 8, some 51,445 people were vaccinated against coronavirus in Ukraine, while 30,988 Ukrainians received the first vaccination, another 20,457 completed the immunization process, having received both doses of the vaccine, the press service of the Ministry of Health reports on the Telegram channel on Monday.
“Some 277 mobile teams, 816 vaccination points, 340 vaccination centers worked during the day,” the message says.
The information says that since the beginning of the vaccination campaign in Ukraine, 4,137,073 people have been vaccinated, of which 4,137,071 people received one dose, 2,401,647 people received two doses and are fully immunized.
“A total of 6,538,718 vaccinations were carried out,” the Ministry of Health said.

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UKRAINIAN STARTUP FUND TO FINANCE 10 STARTUPS

The supervisory board of the Ukrainian Startup Fund (USF), based on the results of 28 Pitch Day, has identified 10 more startups that will receive grants totaling $250,000, the fund’s press service said last week.
In total, teams of 13 projects participated in the pitching. Following the meeting of the Fund’s supervisory board, it was decided to finance seven of them at the pre-seed stage (they will receive a grant of $25,000): Agrotop UA (Kyiv) – a comprehensive expert and analytical information system for agribusiness management; Clasee (Kyiv) – a knowledge sharing platform for personalized learning; MySat UA (Kyiv) – a STEM building set and model of a real satellite, which can be built without special knowledge; Sugarrr (Kyiv) – a mobile application for analyzing the body of a person suffering from diabetes; LuLL world (Kyiv) – mobile, orthopedic and resonance therapeutic hammocks; Deputy (Kyiv) is a digital platform for automating the work of deputies, the tool for collecting, analyzing and understanding the problems of residents; Zeely (Kyiv) – a platform for free website creation and business promotion directly from your smartphone using artificial intelligence; Smart ION (Kyiv) – an ecosystem of smart modules for light control; SolidERP (Kharkiv) – a ERP system for modern service companies; Insolar-T (Kharkiv) – a SaaS platform for improving energy efficiency, the remote-EEaaS-based AI product.
The press service said that the projects are evaluated according to a number of criteria, namely: team, market, appropriateness of financing, idea and development strategy.
The Ukrainian Startup Fund is a government-financed fund created at the initiative of the Cabinet of Ministers. Its purpose is to provide financing to technology companies in the early stages of development (pre-seed and seed).

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GAS TRANSIT THROUGH UKRAINE’S GTS DECREASES BY 14%

Transit of natural gas through the gas transmission system (GTS) of Ukraine in January-July 2021 amounted to 25.616 billion cubic meters, which is 14.1% less than in the same period in 2020 (29.82 billion cubic meters), according to the data of Gas Transmission System Operator of Ukraine (GTSOU).
In particular, in January, transit amounted to 3.863 billion cubic meters (124.6 million cubic meters per day), in February – 2.907 billion cubic meters (103.8 million cubic meters per day), in March – 3.694 billion cubic meters (119.2 million cubic meters per day), in April – 3.718 billion cubic meters (123.9 million cubic meters per day), in May – 3.86 billion cubic meters (124.5 million cubic meters per day), in June – 3.723 billion cubic meters (124.1 million cubic meters per day), in July – 3.851 billion cubic meters (124.2 million cubic meters per day).
According to the press service of the company, in particular, 23.3 billion cubic meters of gas were transported by transit in the western directions (Slovakia – 15.8 billion cubic meters, Hungary – 5.3 billion cubic meters, Poland – 2.2 billion cubic meters), in the south – 2.3 billion cubic meters (Moldova – 1.9 billion cubic meters, Romania – 400 million cubic meters).
GTSOU notes that in July Gazprom used all previously booked capacities, but showed no interest in additional transit capacities, despite the record growth in prices in European gas markets, as well as low volumes in European storage facilities and the planned stop of Yamal-Europe routes and Nord Stream 1.
According to GTSOU Director General Serhiy Makogon, Gazprom is emptying its UGS facilities in Europe in order to compensate Europeans for the lost gas volumes, and at the same time not to increase additional transit through Ukraine.

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GERMAN CHANCELLOR ANGELA MERKEL TO VISIT UKRAINE

German Chancellor Angela Merkel will visit Ukraine on August 22, spokesperson of the Ukrainian President Serhiy Nykyforov has said.
“The Federal Chancellor of Germany, Mrs. Angela Merkel, intends to visit Ukraine on August 22. The topics of the talks: security, bilateral relations and other topical issues,” Nykyforov said on Facebook.

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